MGMT 3 Flashcards

Terms Definitions
Features
Quality Dimension--important special characteristics
Flexibility
Quality Dimension--meeting operating specifications over some period of time
Integrated CLDifferentiation Strategy
Business-Level Strategy

Involves engaging in primary and support activities that allow a firm to simultaneously pursue low cost and differentiation.
Perceived quality
Product Quality Dimension--Subjective assessment of characteristics product image
Outsourcing
The purchase of a value-creating activity from an external supplier.

Firms that engage in this increase their flexibility, mitigate risks, and reduce their capital investments.
Industry Environment
Set of factors that directly influences a firm and its competitive actions and competitive responses:
-threat of new entrants
-the power of suppliers
-the power of buyers
-the threat of product substitutes
-the intensity of rivalry among competitors
Fast-market Cycle
Markets in which the firm's capabilities that contribute to competitive advantages aren't shielded from imitation and where imitation is often rapid and inexpensive.
External Environmental Analysis
Performed to increase understanding of the general environment, to cope with often ambiguous and incomplete environmental data.

Four Parts:
1. Scanning
2. Monitoring
3. Forecasting
4. Assessing
Market Commonality
Concerned with the number of markets with which the firm and a competitor are jointly involved and the degree of importance of the individual markets to each.
Corporate relatedness
Firms create value through the related linked diversification strategy.
Flexible Manufacturing System 40;FMS41;
A computer-controlled process used to produce a variety of products in moderate, flexible quantities with a minimum of manual intervention.

Derived from modularization of the manufacturing process.
Corporate-level Strategy
Specifies actions a firm takes to gain a competitive advantage by selecting and managing a group of different businesses competing in different product markets.
extrinsic feedback
external
environmental factors
competitiveeconomicpoliticallegal and regulatorytechnologicalsociocultural
Control types


Output control
Financial measures of performance
Organizational goals
Operating budgets
Behavioral controls
Direct supervision
Management by objectives
Rules and standard operating procedures
Organizational or clan/cultural controls
Values
Norms
Socialization
mergers and acquisitions
combining firms, buying
character
the percetion that the authority adheres to a set of values and principles that the trustor finds acceptable
Management
the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources
Groups
Two or more freely interacting individuals who share collective norms, share collective goals, and have a common identity

Formal – established to do something productive for the organization and is headed by a leader

Informal – group formed by people seeking friendship and has no officially appointed leader, although a leader may emerge from the membership
 
 
personality
the set of characteristics that underlie a relatively stable pattern of behavior in response to ideas, objects, or people in the environment
retailing
all activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use
star
high market growth and strong relative position, IPod
Operational plans
plans developed at the organization’s lower levels that specify action.
defensive stance
 
ØA company does everything required of it legally but no more
job enlargement
an alternative to job specialization that involves giving the employee more tasks to perform
self-efficacy
an individuals beliefs about her or his capabilities to performa a task
technology
the method by which a company transforms inputs into outputs
corporate governance
the system of governing an organization so the interests of corporate owners are protected
T or F: Federal guidelines suggest that employees make reasonable accommodations for employees' religious practices.
True
Franchising
Form of licensing where a company allows a foreign company to pay it a fee and a share in the profit of in return for using the first comapny's brand name and a package of materials and services.
Examples of Strains
• Physiological: illness, high blood pressure, back pain, stomach aches• Psychological: depression, anxiety, anger, hostility, irritability, inability to think clearly, forgetfulness• Behavioral: grinding teeth, overly critical and bossy, excessive smoking, compulsive gum chewing
abusive supervision
the sustained display of hostile verbal and nonverbal behaviors, excluding phsical contact
team states
specific types of feelings and thoughts that coalesce in the minds of team members as a consequence of their experience working together
advise, consult, support rather than make the product
staff positions
Strategic goals
broad statements of where the organization wants to be in the future; they pertain to the organization as a whole rather than to specific divisions of departments.
Small-Batch Technology
often the least complex technology, goods are custom-made to customer specifications in small quantities
independent contractors
are hired on temporary contracts and are not part of the organizations official workforce
New forms of organization:Downsizing
Planned elimination of jobsStudy: Downsizers generate lower returns on assets than stable employers.Upsizers have increased stock returns*Don't shrink your way to prosperity, instead the best way to prosperity is to grow your business.
psychological withdrawal
consists of actions that provide a mental escape from the work environment
strategic management process
1. establishment of the mission, vision and goals2. analysis of external opport. and threats3. analysis of internal strengths and weaknesses4. SWOT analysis and strategy formulation5. strategy implementation6. strategic control
ceremony
a planned activity at a special event that is conducted for the benefit of an audience
similarity-attraction approach
according to this theory, people tend to be more attracted to others who are perceived as more similar. People also tend to avoid interaction with those who are perceived to be dissimilar to reduce the likelihood of having uncomfortable disagreements.
department store
a retail organization that carries a wide variety of product lines--each line is operated as a separate department managed by specialist buyers or merchandisers
Strength
the degree to which the body is capable of exerting force.
bcg matrix, high market growth, weak relative position
question mark
Tactical plans
plans designed to help execute major strategic plans and to accomplish a specific part of the company’s strategy.
What is Organizing?
Deciding how to best group organizatonal activities and resources?
Relationship between culture and business
Business affects our cultural environment, just as cultures affect business.Culture = System of values, beliefs, customs, attitudes manners and rituals. Business must understand the cultural environment of the country that it is doing business in, as well as its home country:
Quality of worklife (QWL)
Giving workers opportunity to make decisions about the design of their jobs and workplaces.Two ways of looking at QWL:1. Set of objective organizational conditions and practices.2. Employee perceptions of safety and the ability to grow and develop
Consistency culture
a culture that values and rewards a methodical, rational, orderly way of doing things
Advantages to Balanced Scorecard
Ties org's vision, mission, and strategy more clearly to its goals and objectives; moves beyond financial measurement
Moral Right's Approach
Guided by respect for the fundamental rights of human beings.
Staging
What will be our speed and sequence of moves? Speed of expansion, sequence of initiatives
mission statement
how to create high levels of goal interdependence
levels of strategy
corporate level strategy - pertains to the organization as a whole. strategic actions relate to new business acquisitions, additions or divestment of units, plans, or product lines, and join ventures.
What is Coordination?
The process of linking the activites of the various departments of the organization
Team leaders/ supervisors
formally in charge of teams or work units
What are soft money donations?
-or the unlimited donations to parties, think tanks, and other groups, became extensive.
trademark and serivemark duration
ten years
can be extended
can lose it in 2 years if dont use it
can be inefinite
register in last 6 mo. for another 10 years
conventional distribution channel
a channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, even at the expense of profits for the system as a whole
organizational communication barriers
pertain to the organization as a whole and include the problem of status and power differences. Low-power employees are reluctant to communicate with high-power managers. Differences across departments needs and goals can interfere. Lack of formal channels and also hurt communication.
What is cafeteria benefit plans?
flexible plans that provide basic converage and allow employess to choose the additional benefits they want up to the cost limit set by the organization.
Negotiating Order Paper (2 Requirements)
1.) Sign the instrument (indorse). 2.) Deliver to party.
1. autonomy 2. innovativeness 3. risk taking 4. proactiveness 5. competitive aggressiveness
5 dimensions of entrepreneurial orientation
What is the task group?
Those working together to complete a job or task.
What are task forces?
They are used with multiple units when coordination is complex, requiring more than one individual and the need for coordination is acute.
Specially Manufactured Goods (an Exception to UCC Statute of Frauds)
A contract for goods to be a.) specially manufactured for a particular buyer when b.) the goods are not suitable for resale in the ordinary course of business and c.) the seller has began production. // If these things are present, contract is enforceable.
What is a bilateral contract?
Is one in which both parties promise to perform certain things.
three things that occur in an uncertain environment
1. increased differences occur among departments
2. organization needs increased coordination to keep departments working together
3. organization must adapt to change
list two types of transactions that would receive different accounting treatment using a) strict cash-basis accountingb) a modified cash basis
although similar to the strict cash basis, the modified cash basis of accounting requires that expenditures for captial items be charged against income over all the periods to be benefited. this is done through conventional accounting methods, such as depreciation and amortization. under the strict cash basis, expenditures would be recognized as expenses in the period in which the corresponding cash disbursements are made
Who are the principles in the employer-employee relationship?
-    Principals are the employer in the employer-employee relationship
What is the Just in Time method?
An inventory system that has necessary materials arriving as soon as they are needed so that the production process is not interrupted.
Are slander and libel different or the same as defamation?
Slander is oral or spoken defamation and a libel is a writing defamation.
What are some things you shouldn't do with advertising?
wing it, fire old cutomers, advertise where your customers aren't, forget about measuring results
____ 8. Shadow Band, Inc. purchased merchandise from Drum Music Company on June 5, 2012. The goods were shipped the same day. The merchandise's selling price was $15,000. The credit terms were 1/10, n/30. The shipping terms were FOB shipping point.
b.The date the merchandise is sold.
Capabilities
Value chain functions


—Mission analysis 



—Analyze team’s task, challenges and available resources
Validity
the relationship between an applicant's score on a selection device and his or her future job performance
value
customer's subjective assessment of benefits relative to costs in determining worht of product
Stakeholders
are the persons, groups, and institutions directly affected by an organization's performance
communal cultures
organizations with friendly employees who all think alike
brainstorming
involves the face-to-face meeting of team members in which each offers as many ideas possible about some focal problem or issue
FTAA
proposed agreement to establish free trade zone throughout western hemisphere-remove nontariff barriers-reduce tariffs to zero-standardize financial markets-establish process for handling trade disputes
perception
the process of selecting organizing, storing, and retrieving information about the environment
grouping organization units according to product or service
product structure
Quality
Conformance to requirements set by customers
*Deming was founder of quality movement
relativism
reject the notion of universal moral rules
middle managers
The middle managers, the largest group, are responsible for implementing the policies and plans developed by top managers and for supervising and coordinating the activities of lower-level managers.
labor market
Geographical area within which forces of supple interact with forces of demand and therby determine the price of labor.
Global outsourcing
engaging in the international division of labor so as to obtain the cheapest sources of labor and supplies regardless of country; also called global sourcing
Recruitment
All activities managers engage in to develop a pool of qualified candidates for open positions
 
External – look outside organization



Advantage: large applicant pool, attract people with KSAs needed, bring newcomers with fresh perspective

Disadvantage: high cost/ time consuming, lack knowledge of inner workings, performance uncertainty
Internal – existing employees seeking lateral moves (job changes that entail no major changes in responsibility or authority levels) or promotions



Advantages: familiar with organization, know their KSAs, boost morale and motivation, less time consuming and costly

Disadvantages: limited pool, set in organization’s ways, no new ideas
Application form
a device for collecting information about an applicant's education, previous job experience, and other background characteristics
global segment
__ includes relevant new global markets, existing markets that are changing, important international political events, and critical cultural and institutional characteristics of global markets
Bounded Rationality
Limitations (bounds) by ability to process information
 
Assumptions are that decision makers: -Will not seek out or have knowledge of all alternatives. -Will satisfice—choose first alternative encountered that satisfactorily solves problem—rather than maximize outcome of decision by considering all alternatives and choosing best
Influence on decision making
Escalation of commitment: an increased commitment to a previous decision despite evidence that it may have been wrong.
stress
defined as a psychological response to demands that possess certain stakes that tax or exceed a person's capacity or resources
Hearing sensitivity
the capability to hear and discriminate sounds that vary in terms of loudness and pitch.
Internal Recruiting
searching for job applicants from within an operation
guanxi
trust evolving created over perriod of time w/ recoprosity is expected, China
stereotping
the tendency to attribute to an individual the characteristics one believes are typical of the group to which that individual belongs
negative reinforcement
strengthens a behavior by making the avoidance of an undesirable consequence contingent on its occurrence
Ethical Principles
guides to moral behavior. They are basic rules of behavior – be honest, don’t lie, etc.
organizational design
the process of creating, selecting or changing the structure of an organization
baseball type org
interchangeable parts leading to high level of achievement ??changing environments
True or False: The Family Medical and Leave Act requires employees to provide 12 weeks of paid leave for medical and family reasons.
False
pay-for-performance
incentive pay that ties at least part of compensation to employee effort and performance
Leader-Member-Exchange- LXM Model
focuses on the quality of relationships between managers and subordinates as opposed to traits and behaviors. Leaders do not treat all employees the same way-it is based on their one-to-one relationship (dyadic relationship)
public relations (PR)
building good relations with the company's various publics by obtaining favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors, stories, and events
work teams
focus on the accomplishment of core operational level production and service tasks
Job Specification
qualification a person must have in order to get the job
tall org
multiple layers w/in chain of command, slower decision making, narrow span control
Network Structure
the organization has a central core that is linked to outside independent firms by computer connections, which are used to operate as if all were a single organization
strategic human resource planning
analyzes staffing needs and identifies action to fill those needs
Challenges to Rights
(1) How to handle conflicting rights. (2) What/Who confers rights – society, political power, God?
tardiness
the tendency to arrive at work late or leave work early
outcome interdependence
team members share in the rewards that the team earnn
wage and salary surveys
surveys that show what other organizations pay incumbents in jobs that match a sample of "key" jobs selected by the organization
referent power
exists when others have a desire to identify and be associated with a person
long-term orientation
a greater concern for the future and high value on thrift and perseverance
a goal that cannot be reached by a single party
mediation
What is Machiavellianism?
Behavior directed at gaining power and controlling the behavior of others. (E.G People with high Machiavellianism will lie to get to the end they want.)
Discharge by Novation
When parties to a contract BOTH agree with a 3rd party that the contractual rights and duties of one original party will be assumed by that third party. // This is a new contract.
Identify four activities limited partners can do under the RULPA without losing their limited liability.
- Identify four activities limited partners can do under the RULPA without losing their limited liability.    - 1. Being employed by the general partnership as an employee or a contractor    - 2. Consulting with or advising the general partner    -3. Acting as a surety or guarantor for the limited partnership    - 4. Voting on amendments, dissolution, sale of property, or assumption of debt
Form required for Assignment
No special form, only the types required by Statutes of Fraud must be in writing.
fundamental attributions error
argues that ppl have a tendency to judge others' behaviors as due to internal factors
OD can help managers solve three types of current problems
1. mergers/acquisitions
2. organizational decline/revitalization
3. conflict management
What is Self-Esteem?
The Extent to which a person believe sshe/he is a worthwhile individual.
Floating Lien Concept (Three Clauses)
The Secured Party will have security interest in the proceeds of the sale or disposition of the collateral and specified after-acquired property of the Debtor and that the same collateral will cover future advances to be made by the Secured Party. // 1.) Proceeds Clause. 2.) After-acquired Property Clause. 3.) Future Advances Clause.
The type of sexual harassment that occurs within an intimading, hostile, or offensive work environment.
M. Hostile work environment harassment
What is the historical perspective on management?
-Bureaucracy = key
-Management by control
-People are to be used and controled
-Internal focus
-Communication and technology used to control
What are some Inerpersonal Demands Stresses?
Assocaited with the relationships that confront people in organizations.
Office of Federal Contract Compliance Programs (OFCCP)
Tries to get a conciliation agreement. IF that dos not work, contractors may lose gov. contracts, gov may withold payments.
baxter v. US FORD MOTOR
ford motor said they had shadder proof glass and baxter bought the car over others becuase of its glass, glass shaddered, ford paid
now advertisements dont make promises
How would you evaluate organiztional strengths?
You would look at your organizationl strengths, common organizational strengths, distinctive competencies, and imiatation of distincitve competencies.
Partial Performance (Exception to UCC Statute of Frauds)
Payment for the goods or receipt and acceptance of goods by the buyer, to the extent of performance.
What do the initials UPA and RUPA stand for?
-    UPA stands for Uniform Partnership Act and RUPA stands for Revised Uniform Partnership Act
What are some Notes of Organization Development?
1) it's effectiveness varies 2) It focuses on updating employee skills on a continual basis 3) OD's goal is to minimize the magnitude of future changes.
Ordinarily, can one party to a contract demand more consideration once the contract is finalized?
The amount of consideration is left to the discretion of the parties, but one party cannot demand greater consideration once the contract is finalized.
Does mere regulation constitute a taking? In order to constitute a taking, how far must it go?
No. Rather, a taking must go so far as to deprive the landowner of any use of the property.
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