Term
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Definition
| collection of people working together to achieve a common purpose |
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| organizations perform and create ___________ |
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Definition
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| organizations are open systems that transform resource inputs into outputs in the form of ________ and ________ |
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| anything that will eventually earn value for a cooperation...intellectual capital, raw materials |
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| management activities include |
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Definition
planning
organizing
leading
controlling |
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Definition
| specify the goals to be achieved and decide the appropriate actions to take to achieve those goals. |
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| assemble and coordinate resources needed to to achieve goals |
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| stimulate individuals to high performance individually and in groups through direction, motivation, and communication |
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| monitor progress and implement changes necessary ensure that goals are met |
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Definition
strategic
operational
tactical |
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Definition
| top level, senior execs of an organization responsible for overall management who develop long term strategies for the survival, growth and effectiveness of the company |
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Definition
| frontline managers, supervise the day to day operations of the business and the hourly employees |
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Definition
| mid level, responsible for translating the general goals and plans developed by strategic managers into specific objectives and actions |
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Definition
| not a manager, directly involved in the day to day operations and may assume self management functions if organization allows |
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| directive management view |
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Definition
| ideas are pushed downward, what can employees do for the managers, top to bottom movement on the management pyramid |
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| supportive management view |
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Definition
| inverted pyramid, what can managers do for employees, information flows upward from employees to managers, managers say let me help you... |
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Definition
line
staff
functional
general
administrators |
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Definition
| managers are responsible for work activities that directly affect organizations output |
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Definition
| use technical expertise to advise and support the efforts of line workers |
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Definition
| responsible for a single area of activity |
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| responsible for more complex units that include many functional areas |
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Definition
| work in public and non profit organizations |
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Definition
| things you know, think, psychomotor skills |
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Definition
| what you show, feel, illustrate |
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Definition
| good at singular tasks you can complete and told to do |
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Definition
| can see how one little job is part of the whole company |
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| know a little about alot, lots of skills necessary |
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Definition
| read reports, analyze numbers, present bullet points, interact with people |
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Definition
| grapevine/rumor mill, coffe room, parking lots, unplanned interaction where you can acquire more information |
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Definition
| relations with people and sources of information (inside and outside of company) |
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Definition
| being a source of information |
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Definition
| all the shit youre good at |
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Definition
| the ability to think analytically and achieve integrative problem solving |
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Definition
| the ability to work well in cooperation with other persons |
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| the ability to apply expertise and perform a special task with proficiency |
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Definition
| measures the quantity and quality of outputs relative to the cost of inputs |
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Definition
| an output measure or task or goal accomplishment |
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| an input measure of resource cost associated with goal accomplishment |
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Definition
| is the collective brainpower or shared knowledge of a workforce that can be used to create value |
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| intelligence capital equation |
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Definition
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| resources and intangible resource advantage theory |
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Definition
| seperates similar companies |
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Definition
| the process of setting objectives and determining how to best accomplish them |
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Definition
| identify the specific results or desired outcomes that one intends to achieve |
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Definition
| look 3 or more years into the future |
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Definition
| 1 year or less, most people are comfortable with short term plans |
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| planning enables people/organizations to orient towards: |
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Definition
prioriting
results
change
resource utilization |
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Definition
specify
benchmark
anticipate
options
measure |
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Definition
| set broad, comprehensive, and longer term action directions for the entire organizations |
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Definition
| clarifies purpose of the organization and what it hopes to be in the future |
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Definition
| states plans and visions to company and customers |
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Definition
| help to implement all or parts of the strategic plan |
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Definition
| indicate how different operations within the organization will help accomplish the overall strategy |
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| functional plans include... |
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Definition
production plans
financial plans
facilities plans
marketing plans
human resource plans
logistics plans |
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Definition
| identify short term activities to implement strategic plans |
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Definition
| standing plans that communicate guidelines for decisions |
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| rules that describe actions to be taken in specific situations |
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| plans that commit resources to projects or activities |
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Definition
| allocate resources as if each budget were brand new (gives transparency and doesn't allow for loopholes) |
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Definition
| assumptions about what will happen in the future |
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Definition
| assumptions about the future that use expert opinions |
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| assumptions about the future that use math and statistics |
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Definition
| use of external comparisons to evaluate and identify possible future actions |
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Definition
specific
measurable
acceptable/attainable
realistic/challenging
timely/timed |
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Definition
| an analysis of the organization as a series of activities, each which adds or removes value to or from products and or services |
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Definition
| shit an organization does that make it better or more appealing (academics at mizzou) |
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| value reducing activities |
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Definition
| shit an organization does that make it worse and less attractive (parking at mizzou) |
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Definition
| path of finished good from manufacturer to customer |
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| traditional distribution model |
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Definition
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| modern distribution model |
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Definition
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Definition
| use of internet as delivery vehicle; cut guys out of the picture; leads to less control over business |
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Definition
| reintroducing intermediaries that were previously left out |
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Definition
| paths reaching back to company's suppliers of parts and subassemblies for it's finished goods and or services, and paths reaching forward to company's receivers of finished goods (distribution chain) |
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Term
| today a goal of business is to move towards globalization to promote _______ |
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Definition
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| in a ______ _________ the success of one company is directly related to the success of another |
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Definition
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Term
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Definition
| the movement of parts, subassemblies, and finished goods within a supply chain involving handling and transportation |
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Term
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Definition
trucking
shipping facilities
docks
information accessability
warehouse shit
movement of information with technology
RFID radio frequency identification |
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Term
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Definition
| ordering/making/delivering the exact amount of goods required at exactly the right time they are needed in order to reduce inventory, save costs, and improve quality |
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Term
| according to the criminal Tim Waid, inventory is ______ and can be described as ________ _______ __________ |
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Definition
| evil, dollars held hostage |
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Definition
cost
tastes change
shrinkage (lost/damage/stolen)
needs building and managers and shit
must be insured
depreciates |
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Definition
no change in taste/demand
demand is extremely high
margin of cost is extremly high |
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Definition
| the amount of time from order placement until receipt for the customer. Organizations must transform inputs into outputs during order fulfillment |
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Definition
| idle time + travel time + process time = cycle time |
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Definition
| amount of time product/service sits without anything happening to it |
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Definition
| amount of time the product/service spends going from process to process |
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Definition
| amount of time the product is being worked on |
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Definition
reduce non value adding activities
streamline/compress process time
improve ratio of process time/cycle time
reduce cycle time |
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Term
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Definition
| relates to reliability, what you want, trade off with price |
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| statistical process control |
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Definition
| using ratios and shit to figure out if you are being productive, effective, efficient |
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Term
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Definition
| product does not vary much, machines do one single thing |
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Term
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Definition
| each product becomes cheaper to make as each product is made (mass production) |
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Definition
| applying economies of scale to slight product variation |
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Term
| in mass production, the number of ________ is greater than the number of _________ |
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Definition
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Term
| mass production attributes |
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Definition
# of machines > # of people
specialization
low cost
centralization (rigid control structure) |
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Term
| advantages of mass production include... |
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Definition
removal of non value work
catalogue know how
fewer errors |
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| disadvantages of mass production |
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Definition
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Definition
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Term
| customization is also known as ______ _______ ___________ |
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Definition
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Term
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Definition
| making a few of many different things |
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| attributes of customization |
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Definition
# of people > # of machines
variation
increases cost
decentralization (less rigid control) |
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Term
| advantages of customization |
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Definition
decrease capital outlay
flexibility |
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| disadvantages of customization |
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Definition
non value work (more travel/idle time)
non catalogue know how
more errors |
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Term
| standard production is _________ than custom production |
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Definition
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Term
| push approach to management |
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Definition
| directive, management is a science, standardization, Ideals and procedures are pushed down from managers to lower levels of the pyramid |
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| pull approach to management |
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Definition
| supportive management, management is an art, managers pull information from employees and customers in lower levels up to the top of the pyramid |
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Definition
| making alot of many different things |
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Definition
| specific processes or tasks performed by a subunit of the production facility or outside vendor |
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| examples of a module (subassembly) |
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Definition
subway sandwich
white/black iphone
f150 with short/long bed |
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Definition
| company focuses on core competency work, sends out other work |
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Definition
| company seeks low cost manufacturing sites over seas |
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Definition
| company offers value added activity to business partner inside |
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Definition
| shift back to stateside production |
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Definition
| all of the background conditions in the external environment of the organization |
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Term
| macroenvironment includes... |
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Definition
economic health of the company
legal political issues
socio cultural issues
technological issues
natural environment |
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Term
| specific (task) environment |
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Definition
| actual organizations, groups, and persons with whom an organization interacts and conducts business |
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Term
| important stakeholders to the specific (task) environment include... |
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Definition
customers
suppliers
competitors
regulators
owners |
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Term
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Definition
1. customer service
2. quality
3. low price
4. speed |
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Term
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Definition
1. proprietory information
2. relation based partnership, not transaction based,
3. value adding relationships |
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Term
| regulators want to know... |
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Definition
how are you successful?
how do you do shit? |
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Definition
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Definition
| people/organizations with a direct relation to the business |
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Definition
| people/organizations who view the organization at a distance, not directly related in the day to day of the business |
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Term
| primary constituants include... |
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Definition
employees
customers
stakeholders
communities
suppliers |
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Term
| secondary constituants include |
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Definition
government
media
creditors
NGO's/Unions
education systems |
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Definition
| the one thing a company does best and continues to get better at it |
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Definition
| a core comptency that clearly sets an organization apart from competitors and gives it an advantage over them in the marketplace |
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| sustainable competitive advantage |
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Definition
| a competitive advantage/comptency that is difficult for competitors to imitate |
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Definition
| the first organization to employ a unique competitive advantage, attracting customers and keeps customers (like apple in the 80's...or like 'da U in da 80's') |
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Term
| competitive advantage can be linked to... |
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Definition
products
pricing
customer service
cost efficiency
quality
knowledge
speed
entry barriers
financial resources |
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Term
| environmental uncertainty |
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Definition
| a lack of complete information regarding what exists and what developements may occur in the external environment |
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| dimensions of environmental uncertainty |
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Definition
-degree of complexity
-rate of change |
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Definition
| simple vs. complex environmental uncertainty |
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Definition
| stable vs. dynamic environmental uncertainty |
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Definition
| a comprehensive action plan that identifies long term direction for an organization and guides resource utilization to accomplish organizational goals with sustainable competitive advantage |
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Definition
| focusing all organizational energies on a unifying and compelling goal |
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Term
| organizational effectiveness |
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Definition
| sustainable high performance in using resources to accomplish mission and objectives |
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Term
| levels of strategies include... |
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Definition
corporate
business
functional |
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Definition
| set long term direction for the total enterprise |
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Definition
| how a division or strategic business unit will compete in its product or service domain |
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Definition
| guides activities within one specific area of operations |
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Definition
| the reason for an organization's existance |
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| mission statements identify... |
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Definition
customers
products or services
location
philosophy |
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Term
| an important test of the mission statement of a company is how well is serves its __________ |
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Definition
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Definition
| narrow and short term goals to mission fulfillment, direct activities toward key and specific performance results |
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Definition
| examining of an organizations current position by looking at internal strengths and weaknesses compared to environmental opportunities and threats |
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Definition
| Strengths, weaknesses, opportunities, threats |
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Definition
| compares market growth rate for products and services to market share of products and services (dogs, cash cows, question marks, stars) |
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Definition
| seeks an increase in size and the expansion of current operations |
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Definition
| grow within the same business areas (pepsi pushing mountain dew) |
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Term
| diversification strategies |
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Definition
| grow by acquiring or investing in new and different business areas |
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Definition
| sticking to related product areas when diversifying (pepsi buying gatorade) |
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| unrelated diversification |
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Definition
| diversifying into completely unrelated fields (walt disney going from cartoons to theme parks) |
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Definition
| diversifying through buying related shit to your business, can also be buying within the supply chain (pepsi buying t-bell, scholastic buying a paper company) |
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Definition
| adjusting operations when an organization is in trouble |
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Definition
| everyone gets paid, protects firm from creditors while management re-orgainzes to restore solvency (blockbuster) |
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Definition
| organization is gone, goes under, liquidate and sell everything and have creditors line up for payment |
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Definition
| close business and sell assets to pay creditors |
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Definition
| decreasing size of operations to focus on what youre good at (starbucks) |
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Definition
| sells parts of organization to refocus on core business (pepsi selling t bell) |
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Definition
| fix specific performance problems |
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Definition
| providing product or service in a different way that provides value and customers are willing to pay more |
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Definition
| an organization being one thing to a few people |
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