Management Exam 2 Flashcards

Terms Definitions
synergy
working together
Performance Measurement Problems
Deficiency
Unreliability
Invalidity
cognitive dissonance
conflict within oneself
Prejudice
bias resulting from stereotyping
- 360 Appraisal
includes superiors, subordinates, peers, and customers
360 Feedback
*includes superiors, subordinates, peers, and even customers in the appraisal process
manipulation
covert attempts to influence change
anchoring
giving disproportionate amount of weight to the first info one hears
long-term forecast
forecast that predicts revenues, costs, and expenses for a period longer than 1 year and sometimes as far as 5 or 10 years into the future
system
a collection of interrelated parts working together for a purpose


Functions of Management:
Organizing
Building a dynamic organization
Policy
Broad guidelines for making decisions and taking action in specific circumstances
planning
th emanagement function concerned with defining goals for future organizational performance and deciding on the tasks and resource use needed to attain them
strategy
where an organization wants to gocapability and competence
SARRBANES-OXLEY
External Audit RegulationThe New York Stock Exchange:Companies listed on the Exchange (NASDAQ, too) are required to follow rules, imposed by the exchange, on publicly held companies.
what is volume?
# of units billed
customers
are NOT important stakeholder elements in the task environment
role
___ relativism - makes a distinction between our private lives and public roles
insider trading
an unethical activity in which insiders use private company info to further their own fortunes or those of their family and friends
individual self-controls
comprise the guiding mechanisms that operate consciously and unconsciously within each person
core competency
special strength that gives an organization a competitive advantage
climate
the mood or atmosphere of an organization (only temporary)
political model
closely resembles the real environment in which most managers and decision makers operatedecisions are complexdisagreement and conflict over problems and solutions are normal
True or False: Societies in which inequalities between citizens are allowed to grow over time have low power distance.
False
CHARISMA
is desirable but not necessary for peak leadership performance
proactive creativity
discovering problems because you want to be creative
trend analysis
hypothetical extension of a past series of events into the future
Horizontal Merger
Owning all products w/in a category
Managers can use the grapevine for ____________
feedback
what are the 3 levels of mgmt?
strategic
tactical
operational
cost
the price paid to acquire, produce, accomplish, or maintain anything:
capital budget
a budget that highlights a firm's spending plans for major asset purchases that often require large sums of money
Communicatio
the evoking of a shared or common meaning in another person
emotional intelligence
the ability to manage ourselves and our relationships effectively
norming
stage of group where rules of behavior are established, you must follow these to be trusted
programmed decisions
situations that occur often enough to enable decision rules to be developed
Raw Data
useful information such as letters and numbers combined to make data
MEDIATION
Process where a third party has high control over the intervention + resolution process (using tools like reasoning, persuasion, alternative solutions), but parties make final decision that resolves the conflict
Transformational Leadership
Inspire and excite followers to high levels of performance, rely on personal attributes instead of their official position to manage followers
high context culture
people rely heavily on situational cues for meanings when communicating with other
Today, the US exports more to ____ than it does to Britain, France, Germany, and Italy combinedChinaJaanMexicoSouth Korea
Mexico
Naive Relativism
belief that all moral decisions are deeply personal and that individuals have the right to run their own lives, adherents of moral relativism argue that each person should be allowed to interpret situations and act on his or her own moral values
Derived from top management and is delegated down the chain of command?
Position Power
Need Theory
A group of theories about work motivation that focuses on employees' needs as the sources of motivation.
Robert Houses beliefs/study
Path goal leadership - leader shows the path and reward to followers in hopes to motivate them
TEAMS - Cohesiveness
The degree to which members are attracted to and motivated to remain part of the team
job migration
the shifting of jobs from one country to another. occurs when global outsourcing shifts from one country to another
Middle Level Managers
Located in the middle of the organizational hierarchy, reports to the top level managers
True or False: A tax that a country imposes on imported goods is called a tariff.
True
STRATEGIES FOR MERGING ORGANIZATIONAL CULTURES
ASSIMILATION: Acquired company adapts to/embraces/firm’s culture (hospital merger) DECULTURATION: Firm imposes culture on unwilling company (hostile takeover) INTEGRATION: Combining two cultures into a new culture (Robinson’s-May) SEPARATION: Merging companies remain fairly distinct in culture (GM, Saab)
group decision making advantages
1) greater pool of knowledge2) different perspectives3) intellectual stimulation4) better understanding of decision rationale5) deeper commitment to the decision
what is in the best interest and benefit to an individual
self interest
Locus of Control
extent to which people believe they are in control of destiny vs. believing what happens is beyond their control.individual basedhigh Internal locus of control- feel like you have control to make things happen in your life and with they don't you take responsibility.high External locus of control- blame outside forces for what happens in your life.taught these things by how you were raised by parents.
First moversSecond moversThird movers
-first to take action

-imitate first movers

-tend to be poor performers
Three types of org. commitment
Affective - emotional, person wants tooContinuance- cost, needs to stayNormative - obligation, feel like u owe it
Describe an example of disparate impact on the basis of sex (gender). 


-        Ex. Dothard v. Rawlinson 433 US 321 (1977) minimum height of 5’2 and weight of 120 lbs… discriminatory towards women
which statement sheet is most similar to your check book balance?
the cash flow statement
THIRD PARTY CONFLICT RESOLUTION
Attempts by neutral party to resolve conflict
2 basic behaviors which leaders engage in for effective leadership
assistance in performing tasksestablishing interpersonal relations which support task performance- concern for people
Evaluation used for: HOME HEALTH AGENCY
(OASIS)Outcome and Assessment Information Set
Who is William H. Leffingwell?
The Father of Office Management, published a book called Scientific Office Management, published in 1917.
What is the basis of protections against employment discrimination


- Protections against employment discrimination are strictly statutory
Discretionary Power
People with any or all of the 5 types of power.
 
 Power lies solely on the powerholding person
Ex: Police officer control
 
**Out of our hands.
Outside Directors (Non-Management Directors)
may be executives of other firms but are not employees of the board's corporation.
Two types of programmed conflict
Devils advocacy - Assign a critic that is rotatedDialect method - Set up a debate
On the breakeven analysis graph, where is the breakeven point?
where gross margin crosses total expenses
The role of the board of directors in strategic management is to carry out three basic task:
MonitorEvaluate and InfluenceInitiate and determine
Are utilities a variable expense?
no, they are fixed because they do not vary with sales
When should a 'deal' be purchased?
when the turnover is at least 3, and the return on investment is at least 35%
What are the implications of Fiedler's contingency theory for managers?
1) Anybody can be a leader if they find the right situation2) If your work group isn’t performing well, the situation is at fault (you’re in a bad match; no effective and ineffective leaders; only effective and ineffective situations because Fielder says the situation is the only thing that can change, you can’t change your leadership style)3) If your work group isn’t performing well, the situation needs to change; change the situation to fit your style- Leadership Training Program = leader match (as soon as you see it being offered, you run away from it)
blue
driven by relationships
bookkeeping
recording of business transactions
entrepreneurship
idea championsnew venture teamsskunkworksnew venture fund
Skunkworks
Highly independent, often secretive group within the organization focused on developing breakthrough products or ideas
Decentralization may help an organization respond effectively to local conditions, but may eventually harm the organization's performance.
True
ability
Possessing the intellectual knowledge, physical skills, and other personal attributes required to accomplish the job
Leading
Management function that involves working with and through people to accomplish organizational goals
management
_______ is the process of accomplishing tasks through others
self-actualization needs
desire for personal growth, self-fulfillment, and the realization of the individual's full potential (top need priority)
ways to influence others
1) leadership2) power
Task environment
sectors that conduct daily transactions with the organization directly impact the organizations basic operationsincludes: customers, competitors, suppliers, and labor market
Groups
2+ freely interacting people with shared norms and goals and common identity.
Productivity of ideas does not increase as the size of the group increases.
 
Effective Followers


active, responsible, autonomous in their behavior and critical in their thinking without being insubordinate or disrespectful
self-leaders who don't need supervision, most valuable
self-managed and self-responsible
committed
invest their time in competence
courageous
what are federal regulations
laws and rules
organizing
the process of designing jobs, grouping jobs into manageable units, establishing patterns of authority among jobs and groups of jobs
programmed decision characteristics

vs

non programmed
automatic reorder of inventory
repititious

novel, unique, creative problem solving, commercialization of product
desperate
reckless or dangerous because of despair or urgency:
financial managers
managers who make recommendations to top executives regarding strategies for improving the financial strength of a firm
Reinforcement
the attempt to develop or strengthen desirable behavior by either bestowing positive consequences or witholding negative consequences


o   Rescission


-Means the contract is set aside
 
-  Happens when there has been misrepresentation in the formation of a contract  
3 psychological states
1) experienced meaningfulness 2) responsibility3) knowledge
Technical skills:
the job-specific knowledge needed to perform well in a specialized field
justice approach
the ethical concept that moral decisions must be based on standards of equity, fairness, and impartiality
Knowledge Mngmt
Inc. the sharing of knowledge/info throughout an org.
~Tacit/Explicit knowledge.
Authority
The rights inherent in a managerial position to tell people what to do and to expect them to do it
Selection
asses the skill, abilities, and other attributes of candidates for a job to match candidates with the job requirement
COST MINIMIZATION
THE ORGANIZATION'S PURSUIT OF TIGHTLY CONTROLLED COSTS
Barriers to Effective Listening
Formulating/ rehearsing responses, questions, or rebuttals while listening. turn this off it leads to a situation where you can paraphrase and restate. ok to pause and ask for a moment to think.being critical of the appreance, mannerisms, attitude etc. of the speaker. focus on message not the personselective perception- listening only for facts, hear only what we want to hear.inappropriate feedback- emotional or premature comments, argumentativeness, being minimally responsive.
The theory that managers' attitudes toward and expectations and treatment of employees largely determine their performance?
Pygmalion Effect
Market positioning
selecting a specific pattern of concentration
2a
type __ thinking - the market through consumers will dictate the ethical behavior of businesses
Accounts receivable
assets within a budget- payments oewd to program (consultation fees
constitutions law
o Constitutions are unlike statutes in that they cannot be added to, amended, or repealed with the same ease as can statutes. Law of the people and are changed only by lengthier and more demanding procedures, such as ballot propositions
o Tend to protect general rights, such as speech, religion, and property
o Provide a framework for all other forms of laws
o Statute’s boundaries are formed by constitutionally protected rights
extrinsic cues
payoff a person receives from others for performing a particular task
Total quality management (TQM)
comprehensive approach-led by top management and supported throughout the organization-dedicated to continuous quality improvement, training, and customer satisfaction
strategy implementation
the stage of strategic management that involves the use of managerial and organizational tools to direct resources towards achieving strategic outcomes
4) Diversity
~More diversity in networks = wider range of info.
- more effort to maintain
uncertainty
a situation in which a decision maker has neither certainty nor reasonable probability estimates available
current employee needs
1) job analysis2) job description3) job specification
Habit
people get sued to doing things one way
How to improve reception
Company hotlines:call and leave annonymous commentsSurvey feedback: info gathered from questionnairesInformal meetings with top exec.: directly "hear" employeesGainsharing
leadership situational theories
propose that leader styles should match the situation at hand
Mutual interdependence
moves are not made in a vacuum
Harvest stategies
sell stocks (maybe less taxes), sell assets, close doors and liquidate, merge, IPO, buy shell..?
Type II error
Failure to report a relationship when one exists. Often occurs with designs with small n,
Ethics
o Behavior beyond the law o A basic question for ethics is “is this fair?” Philosophy- referred to as → Normative standards
•Ethical standards that are generally accepted rules of conduct that govern society
•Generally accepted as standards and norms for behavior that are beyond laws and legal rights
leadership member relations
reflects the extent to which the leader has the support of the work group
A quantity discount is also known as a what?
deal
Maslows Five levels of needs
1. Physical
2. Safety
3. Social
4. Esteem
5. Self Actualization 
Normative Decision Theory
Helps leaders and managers know when to have employees participate in the decision-making process, determines the most appropriate decision making strategy to use, recognizes the benefits of authoritative, democratic, and consultative styles, 5 forms of decision making
adverse impact
practice that is applied the same to all groups but has a differential effect on certain groups
one way communication
a process in which information flows in only one direction - from the sender to the receiver, with no feedback loop
describe equal employement opportunity legislation
prohibits employment or advancing discrimination a
Moral cases for diversity
All Americans should be treated equally or fairly in all aspects of life
impoverished style
goal is to stay out of trouble and make sure they cant be held accountable for mistakes - low concern for people and low concern for production
 
(managerial grid) 
Job Analysis
studies exactly what is done in a job (description) and why (specifications)
Path goal theory
the situation will decide the form of leadership, rewards are givendissective,supportive,participative,achievement oriented
three principles of effective strategy
1) unique and valuable position2) trade-offs in competing3) fit among activities
What are some sources of recruiting?
current employees, referrals from current employees, former employees, etc. also customers
define the term "prospectus"
well thought out plans to insure completeness
Five keys to effective supervirosy communiction
1. Expressive speaking 2. Emphatic listening 3. Persuasive leadership 4. sensitivity to feelings 5. informative management
A supplier's bargaining position is especially strong when:
A supplier's bargaining position is especially strong when:
EQUAL PAY FOR EQUAL WORKTEST
File a claim: Prove same job CLASSIFICATION:1.equal skill/experience2. equal effort-mental/physical3. equal responsibility-supervision/accountability4. Similar working conditions- Dangers/exposuresEmployer can refute w/any reason other than GENDER
- Workers couldn't stop the line
- Managers were responsible for keeping the line moving
implications of Maslow's hierarchy of needs
1) once needs are fulfilled, adding more effort for the needs are less effective2) give employees a chance to fulfill their higher-level needs (not just paycheck)
HR Issues in Today's Workplace
-working as member of project teams is trend-temporary employees-automation of HR tasks-technology and telecommuting-downsizing-work-life balance
3 types of team interdependence
Pooled - People work on own and then piece togetherSequential - Pass task along ex assembly lineComprehensive - People coord and comm whole time
In the normative pyramid of CRS, list from top to bottom.
Disc, ethical, legal, economic

why is this bad?
In the normative pyramid of CRS, list from top to bottom.
this says that money and profit are your main goal, more important that lega/ethical
- Impression management- In America, being decisive and consistent is desirable
- People have a need for closure. ex) "When will our grades be posted?"
what is the verification step of the creative process
is the idea a good idea or is it crazy
/ 141
Term:
Definition:
Definition:

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