| Terms |
Definitions |
|
Harrington Emerson
|
Improved efficiency
|
|
neglect
|
Allowing conditions to worsen
|
|
services
|
intangible products (i.e. products that acn't be held in your hand) such as education, health care, insurance, recreation, and travel and tourism
|
|
grafting
|
the process of acquireding individuals units, or firms to bring in useful knowledge
|
|
Stakeholders
|
persons or group with legitimate interests in procedural and/or substantive aspects of corporate activity
|
|
tactical planning
|
process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done
|
|
Unites firms in completely unrelated industries in order to diversify business operations and investments
a) Conglomerate Merger
b) Horizontal Merger
c) Merger
d) Vertical Merger
|
Conglomerate Merger
|
|
WSJ 2/26
|
-wanted honest constructive feedback from boss
-wasting time on Ebay- boss said nothing
-too kind in the short run is really being too heartless in the long run
-paradox
|
|
standardization
|
how limited the allowable actions is
|
|
authority
|
The power to hold people accountable for their actions and to make decisions concerning the use of organizational resources.
|
|
business ethics
|
the application of ethical standards to business behavior
|
|
Agency-Principals duties
|
Duty to compensate
Duty to reimburse and duty to indemnify
Duty to cooperate
|
|
strike
|
union strategy in which workers refuse to go to work
|
|
Social learning
|
theory uses modeling or vicarious learning to acquire behavior through observing and imitating others by means of perception and attribution
|
|
SWTO
a) Strengths, Weaknesses, Threats, Opportunities
b) Strengths, Wrongs, Treats, Opportunities
c) Strong, Weak, Threat, Opportunity
d) Strong, Weakness, Treats, Opportunities
|
Strengths, Weaknesses, Threats, Opportunities
|
|
Path-Goal theory
|
leadership theory that says the leader's job is to assist followers in attaining their goals and to provide direction or support needed to ensure that their goals are compatible with the goals of the group or organzation
|
|
"You cannot give...
|
...what you do not have."
|
|
Intuition
|
Ability to make sound decisions based on one's past experience and immediate feelings about info at hand
|
|
Open Door Policy
|
Supervisors and managers understand that part of their jobs is to solve workplace problems through open-door options, and the company prohibits retaliation against any employee who is trying to resolve a workplace problem through the open-door procedure.
|
|
job design
|
The process by which maangers decide how to divide tasks into specific jobs.
|
|
Full understanding of entrepreneurship can be gained only through careful consideration of:
|
macro and micro approaches
|
|
Freud's Personality structure
|
Id: energy constantly striving to satisfy basic drives; pleasure principle
Ego: seeks to gratify the Id in realistic ways; Reality principle
Super Ego: voice of conscience that focuses on how we ought to behave
|
|
bargaining zone
|
range of options between the initial and final offer that each party will consider before negotiations dissolve or reach an impasse
|
|
Workflow interdependencies
|
occur when people or units are required to cooperate to meet challenging goals
|
|
HIERARCHY OF AUTHORITY
|
chain of command, specifying the relative authority of each manager
|
|
Visionary leadership
|
able to create and articulate a realistic, credible, and attractive vision of the future
|
|
What does management do?
|
reduces uncertainty and stabilizes, controls complexity, maintain the status quo
|
|
Synergy
|
The creation of the whole that is greater than the sum of its parts
|
|
Reorder Point
|
Reorder point = lead time * demand
|
|
task variety
|
The number of new problems a manager experiences in performing his/her job.
|
|
Philosophy (Rand)
|
study of existence, of man, and of mans relationship to existence
|
|
what are earmarks?
|
fund provided by Congress that specify a recipient of location, or are so specific that only one recipient can qualify
|
|
unemployment rate
|
number of civilians at least 16 years old who are unemployed and tried to find a job within the prior four weeks
|
|
Advantages a firm expects to achieve over its competitors through skill resource deployment
|
Define competitive advantage
|
|
Organization development (OD)
|
The planned process of improving an organization by developing its structures, systems and processes to improve effectiveness and achieving desired goals.
|
|
job involvement
|
a persons sense of involvement in an organization
|
|
Mean Squared Error(MSE)
|
A measure of forecast accuracy which is analogous to a sample variance in basic statistics (positives and negatives don't offset)
|
|
How does goal setting work?
|
Goals direct attention – direct one’s attention and effort toward goal relevant activities and away from goal-irrelevant activitiesGoals regulate effort – motivate us to actGoals increase persistence – difficult goal that is important to an individual is a constant reminder to keep exerting effort in the appropriate directionGoals foster the development and application of task strategies and action plans – encourage people to develop strategies and action plans that enable them to achieve their goals
|
|
Behavioral Management Theory: Mary Follett
|
Said that scientific management was ignoring the human side of work.
-proposed radical ideas such as:
1. workers know the most about their jobs & should be involved in analyzing them.
2. Authority should go w/ knowledge...whether it is up or down.
3. Knowledge & expertise and not managers' formal authority should decide who would lead at any moment.
4. Power should be fluid
-Her work was ignored
|
|
Parts of the planning cycle
|
1: Formulate plans
2: carry out plans
3: compare preliminary and final results with plans
4: take corrective action (improve future plans: back to 1; correct deviation in plans being carried out: back to 2)
|
|
MX- Security (Insecure leaders are dangerous)
|
Insecure leaders are dangerous-to themselves, their followers and the organizations they lead-because a leadership position amplifies personal flaws.
|
|
Strategies for sale or transfer of ownership to insiders
|
Succession, leveraged buyout, employee stock ownership plans
|
|
Herzberg's view of satisfaction and disastisfaction
|
Opposite of satisfaction is no satisfaction
opposite of dissatisfaction is no dissastisfaction
|
|
a management scheduling tool that shows relationships of activities and events to determine the completion of a project
|
Pert (program evaluation and review technique)
|
|
"If what you did yesterday still looks big to you...
|
...you haven't done much today."
|
|
List the six steps in decision making.
|
1. Recognize the need for a decision
2. Generate alternatives
3. Assess alternatives
4. Choose among alternatives
5. Implement the chosen alternative
6. Learn from feedback
|
|
MX- Responsability (It took me fifteen years)
|
it took me fifteen years, of working for a large organization, to realize that in our society you work eight hours for survival, and if you work only eight ours, all you do is survive....Everything over eight hours is an investment in your future. No one can do the minimum and reach his maximum potential.
|
|
How to build trust
|
CommunicationSupportRespectFairnessPredictabilityCompetence
|
|
Extinction
|
Weakens behaviorWeakening of a behavior by ignoring it or making sure it is not reinforced
|
|
CONTINGENCY THEORY
|
managers design organizational structures to fit the factors or circumstances that are affecting the company the most and causing them the most uncertainty
|
|
What are power and influence
|
•Interdependence
•Legitimacy
•Obedience
|
|
incubators
|
centers that offer new businesses low-cost offices with basic business services
|
|
BRAINSTORMING
|
group problem solving technique to generate and debate a wide variety of alternatives from which to make a decision
|
|
Task focused examples
|
autocratic, production orientated, initiating structure
|
|
exit
|
Behavior directed toward leaving the organization
|
|
espoused values
|
explicitly stated values and norms preferred by an organization
|
|
Benefits of IPOs
|
New equity capital, liquidity, prestige and recognition, personal wealth and market provides continuing valuation of worth
|
|
Gantt chart
|
bar graphs showing production managers what projects are being worked on and what stage they are in at given time
|
|
collective bargaining
|
process whereby union and management representatives form a labor management agreement, or contract for workers
|
|
Channel richness
|
the capacity of a communication channel to convey information effectively.
|
|
CROSS-FUNCTIONAL TEAM
|
group of managers brought together from different departments to perform organizational tasks
|
|
Formal groups
|
work groups defined by an organization's structure and have designated work assignments and specific tasks directed at acccomplishing organizational goals
|
|
Diversity training
|
Attempts to develop sensitivity among employees about the unique challenges facing women and minorities and strives to create a more harmonious working environment.
|
|
Controlling
|
ensuring that things go well by monitoring performance and taking corrective action as neccessar
|
|
combination strategy
|
the simultaneous pursuit by an organization of two or more of growth , stability, and retrenchment strategies
|
|
Bill of Rights
|
first 10 amendments to the constitution guarenteeing many liberties directly yo indiviudal citizens.
|
|
Embedded Social Enterprise
|
Mission centric, social programs and activities one and the same, self financed through enterprise, normal non-profits
|
|
pay structure
|
the pay policy resulting from job structure and pay level decisions
|
|
revenue
|
value of what is received for goods sold, services rendered, and other financial sources
|
|
Stages of Industry Life Cycle-
|
Intro, Growth, Maturity, Decline
|
|
PRODUCT CHAMPION
|
manager who takes "ownership" of a project and provides the leadership and vision that take a product from the idea stage to the final customer
|
|
Peer ReviewCh4
|
used in big companies with employee disputes
|
|
Disseminator role
|
In this managerial role the manager need to constantly disseminate important information to employees
|
|
machiavellanism
|
degree to which a person is pragmatic, maintains emotional distance and believes ends justifies the means high mach = direct interaction with others, minimal rules and regulations low mach = rules and regulation
|
|
coercive power
|
ability of a manager to punish others
ex: verbaly criticizing, embarrassing, reduction in pay
|
|
Three sources of feedback
|
Others – peers, supervisors, lower level employees, and outsidersTask – ready source of objective feedbackOneself – self serving bias and other perceptual problems can contaminate this source
|
|
For something to be considered a result of creativity, it must be:
|
New and practical
|
|
Evaluation - Behavioral Anchor
|
Similar-to-me error: Rating error of giving a higher evaluation to people who seem similar to oneself.An unfortunate result of this type of error is possible discrimination
|
|
High-context cultures
|
use words to convey only a limited part of the message. The rest must be inferred or interpreted from the context.
|
|
Emotional intelligence
|
The ability to notice and to manage emotional cues and information
In favor: shown to be positively related to job performance at all levels
Against: is vague, can't be measured, and has questionable validity
|
|
Fiedler's Contingency Theory
|
Fit between the leader style and stiuation. Says that leaders are either task orienated or relationship orientated depending on leader's primary need gratification
|
|
Goal Setting
|
can set the wrong goals. Just know that 'doing your best" is not on the 6 ways to do goals right
|
|
affirmative action
|
the extent to which employers make an effor through their personnel practices to attract, retain and upgrade members of the portected classes of 1964 Civil Rights Act or persons with disabilities
|
|
The debt ratio:
|
is defined as total assets divided by total debt.
|
|
supply chain (or values chain)
|
sequence of linked activities that must be performed by various organizations to move goods from the sources of raw materials to ultimate consumers
|
|
Officers of CorporationCh20
|
are in charge of day-to-day running of corp and are appointed by directors, can conduct business on behalf of corp
|
|
What is Welfare Capitalism?
|
Companies hired a person was assigned to check up on employees to see if they were living right.
|
|
53. What is the master production schedule (MPS)? What are theinputs and outputs of the MPS?
|
MPS Definition: Time-phased plan specifying how many and when thefirm plans to build each end item (pg. 588)Inputs:(1) Aggregate production plan(2) Firm orders from known customers(3) Forecasts of demand from random customersOutputs: (1) the MRP, including Primary & Secondary reports (pg. 590)
|
|
Fiduciary Duties within CorporationsCh20
|
1) Due Care/Due Diligence - act in good faith when doing business on behalf of corp; 2) Loyalty - don't steal or compete with corp; 3) Business Judgment Rule - protects officers/directors by prohibiting a court from second guessing corp decision-makers unless showing a fiduciary breach
|
|
Leveraged Buyout (When managers become owners)
|
Managers borrow money to pay the owner an agreed upon price. New owners pledge their stock as collateral or lenders accept an equity position in the company to cover all/part of the funds
|
|
Obama Walks a Fine Line
|
Obama has to decide between letting GM go bankrupt or give them taxpayers dollars. On the right (repubs) they think that you should help them bc other jobs will fail. left (dems) says to let them fail.
Third Option- step back do nothing. Problem to this is that if we don't have someone in charge, we lose faith and fear will deepen the crisis
|
|
Decision making in response to threats
|
when events inside or outside the org are adversely affecting the org performance and mgr's are searching for ways to increase performance
|
|
List and describe the two basic forms of sexual harassment.
|
Quid pro quo: asks or forces an employee to perform sexual favors to keep a job, receive a promotion, receive a raise, obtain some other work-related opportunity, or avoid receiving negative consequences such as demotion or dismissal.
Hostile work environment: when organizational members are faced with an intimidating, hostile, or offensive work environment because of their sex.
|
