Term
| How does talent influence working in the new economy? |
|
Definition
| the knowledge of the workers mind is a critical asset to employers and adds to the intellectual capital of an organization |
|
|
Term
| How does diversity influence working in the new economy? |
|
Definition
| a divers and multicultural workforce challenges and offers opportunities to employers |
|
|
Term
| How does globalization influence working the new economy? |
|
Definition
| boundaries of world business have largely disappeared |
|
|
Term
| How does technology influence working in the new economy? |
|
Definition
| increasing demand for knowledge workers with the skills to fully use technology |
|
|
Term
| define intellectual capital |
|
Definition
| the collective brainpower or shared knowledge of a workforce can be used to create value |
|
|
Term
| define workforce diversity |
|
Definition
| reflects differences with respect to gender, age, race ethnicity, religion, sexual orientation, and able-bodiedness |
|
|
Term
|
Definition
| the worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy |
|
|
Term
| How do organizations operate as open systems? |
|
Definition
1. interrelated parts that function together to achieve a common purpose
2. interact with their environment
3. transform resource input into product outputs
4. environmental feedback tells organizations how well it is meeting the needs of customers and society |
|
|
Term
| explain productivity as a measure of organizational performance |
|
Definition
| an overall measure of the quantity and quality of work performance with resource utilization taken into account |
|
|
Term
| difference between performance effectiveness and performance efficiency |
|
Definition
effectiveness: an output measure of task or goal accomplished
efficiency: an input measure of the resource costs associated with goal accomplishment |
|
|
Term
| list several ways in which organizations are changing today |
|
Definition
| belief in human capital, demise of command and control, emphasis on teamwork, technology, embrace of networking, new workforce expectations, concern for work-life balance, focus on speed |
|
|
Term
|
Definition
| responsible for performance of an organization as a whole or for one of its larger parts |
|
|
Term
|
Definition
| in charge of relatively large departments or divisions |
|
|
Term
| describe team leaders or supervisors |
|
Definition
| in charge of a small work group of non-managerial workers |
|
|
Term
| describe type of manager: line manager |
|
Definition
| responsible for work activities that directly affect organizations outputs |
|
|
Term
| describe type of manager: staff manager |
|
Definition
| use technical expertise to advise and support the efforts of workers |
|
|
Term
| describe type of manager: functional manager |
|
Definition
| responsible for a single area of activity |
|
|
Term
| describe type of manager: general manager |
|
Definition
| responsible for more complex units that include many functional areas |
|
|
Term
| describe type of manager: administrator |
|
Definition
| work in public and nonprofit organizations |
|
|
Term
|
Definition
the requirement of one person to answer to a higher authority for relevant performance results
- effective managers fulfill performance accountability by helping others to achieve high performance outcomes and experience satisfaction in their work - improves quality of work life |
|
|
Term
| explain the role of managers in the upside-down pyramid view of organizations |
|
Definition
each individual is a value-added worker
a managers job is to support workers efforts
the best managers are know for helping and supporting |
|
|
Term
| define management function: planning |
|
Definition
| process of setting objectives and determining what actions should be taken to accomplish them |
|
|
Term
| define management function: organizing |
|
Definition
| process of assigning tasks, allocating resources, arranging the coordinated activities of individuals and groups to implement plans |
|
|
Term
| define management function: leading |
|
Definition
| process of arousing peoples enthusiasm to work hard and direct their efforts to fulfill plans and accomplish objectives |
|
|
Term
| define management function: controlling |
|
Definition
| the process of measuring work performance, comparing results to objectives and taking corrective action as needed |
|
|
Term
explain Mitzberg's view of what managers do:
Interpersonal roles |
|
Definition
| involve interactions with persons inside and outside the work unit |
|
|
Term
explain Mitzberg's view of what managers do:
informational roles |
|
Definition
| involve going, receiving and analyzing of information |
|
|
Term
explain Mitzberg's view of what managers do:
decisional roles |
|
Definition
| involve using information to make decisions in order to solve problems or address opportunities |
|
|
Term
explain Kotter's points on how managers use agendas and networks to fulfill their work responsibilities:
agenda setting |
|
Definition
development of action priorities for one's job
include goals and plans that span long and short time frames |
|
|
Term
explain Kotter's points on how managers use agendas and networks to fulfill their work responsibilities:
networking |
|
Definition
| process of building and maintaining positive relationships with people whose help may be needed to implement ones work agendas |
|
|
Term
| define managerial skill: skill |
|
Definition
| ability to translate knowledge into action that results in desired performance |
|
|
Term
| define managerial skill: technical skill |
|
Definition
| the ability to apply a special proficiency or expertise to perform particular tasks |
|
|
Term
| define managerial skill: human or interpersonal skill |
|
Definition
ability to work well in cooperation with others
- emotional intelligence is the ability to manage ourselves and relationships effectively |
|
|
Term
| define managerial skill: conceptual skill |
|
Definition
| ability to think critically and analytically to solve complex problems |
|
|
Term
| Explain Katz’s view of how these skills vary in importance across management levels |
|
Definition
o Top-Level Managers = More Conceptual Skills
o Middle-Level Managers = More Human Skills
o Lower-Level Managers = More Technical Skills |
|
|
Term
| define operations management |
|
Definition
| managing productive systems that transform resources into finished products, goods and services for customers |
|
|
Term
| state the productivity equation |
|
Definition
| productivity = output/input |
|
|
Term
| define competitive advantage |
|
Definition
| core competency that clearly sets an organization apart from competitors and gives it an advantage over them in the marketplace |
|
|
Term
describe alternative types of manufacturing and service technologies:
small-batch production |
|
Definition
| a variety of custom products are tailor made to order (ex: pimp my ride) |
|
|
Term
describe alternative types of manufacturing and service technologies:
mass production |
|
Definition
large number of uniform products are made in an assembly-line system
(ex: ipod) |
|
|
Term
describe alternative types of manufacturing and service technologies:
continuous- process production |
|
Definition
| a few products are made by continuously feeding raw materials through a highly automated production system with largely computerized controls |
|
|
Term
describe alternative types of manufacturing and service technologies:
intensive technology |
|
Definition
focuses the efforts of many people with special expertise on the needs of patients or clients
(ex: hospitals) |
|
|
Term
describe alternative types of manufacturing and service technologies:
mediating technology |
|
Definition
links together parties seeking a mutually beneficial exchange of values
(ex: real estate, insurance companies) |
|
|
Term
describe alternative types of manufacturing and service technologies:
long-linked technology |
|
Definition
functions like mass production, where a client is passed from point to point for various aspects of service delivery
(ex: dell) |
|
|
Term
| list several trends in manufacturing technologies |
|
Definition
| robotics, flexible manufacturing systems, mass customization, cellular layouts, computer-integrated manufacturing, lean production, design for disassembly, remanufacturing |
|
|
Term
|
Definition
| occurs when the result of a work task or activity makes a product or service worth more in terms of potential customer appeal than at the start |
|
|
Term
| describe the value chain for an organization |
|
Definition
| sequence of step-by-step activities resulting in finished goods or services with customer value |
|
|
Term
| explain supply chain management |
|
Definition
| strategic management of all operations relating to an organizations resource suppliers |
|
|
Term
| define economic order quality |
|
Definition
| inventory replenished with fixed quantity order when inventory falls to predetermined level |
|
|
Term
|
Definition
materials arrive at workstation or facility "just in time" for use
virtually eliminates carrying costs of inventories |
|
|
Term
| define break even point and analysis |
|
Definition
o Break-Even Point =
Fixed Costs / (Price – Variable Costs)
o Break-even analysis
• Determination of the point at which sales revenues are sufficient to cover costs.
o Used in evaluating:
• New products
• New program initiatives |
|
|
Term
| discuss importance of customer relationship management |
|
Definition
establishes and maintains high standards of customer service
uses latest technologies for intensive customer communication and collection of data regarding customer needs and desires |
|
|
Term
| describe internal customers of a firm |
|
Definition
| the persons and groups within an organization who depend on the results of others work to do their own jobs |
|
|
Term
| describe external customers of a firm |
|
Definition
| purchase the organizations goods or utilize its services |
|
|
Term
| explain ISO certification |
|
Definition
International standards organization certification
• Adopted by many countries as quality benchmark.
• Companies undergo rigorous audit to determine if ISO requirements are met.
• Focus is on customer service and product quality. |
|
|
Term
| define TQM and continuous improvement |
|
Definition
o Quality principles are an integral part of organization’s strategic objectives.
• Applying them to all aspects of operations.
• Committing to continuous improvement.
• Striving to meet customers’ needs by doing things right the first time. |
|
|
Term
| explain how control charts and six sigmas programs are used in statistical quality control |
|
Definition
uses rigorous statistical analysis for checking processes, materials, products and services to ensure that they meet high standards
- takes random work samples
- measures quality in samples
- determines acceptability
- unacceptable quality results in corrective action
- "six sigma" common example of SQC |
|
|
Term
describe key elements in general work environment
general environment
legal-political
socio-cultural
technological
natural environment |
|
Definition
o The General environment — all of the background conditions in the external environment of the organization including:
• Economic – health of the economy
• Legal-political – norms, customs, social values
• Socio-cultural – philosophy/objectives of political party running the government
• Technological – development and availability og technology
• Natural environment – nature and conditions of environment |
|
|
Term
| describe the specific task environment |
|
Definition
actual organizations, groups, and persons with whom an organization interacts and conducts business
includes important stakeholders such as: customers, suppliers, competitors, regulators, investors/owners |
|
|
Term
| define sustainable business |
|
Definition
| both meets the needs of customers and protects the well-being of our natural environment |
|
|
Term
| define sustainable environment |
|
Definition
| creates new products and production methods that have reduced environmental impact |
|
|
Term
| define competitive advantage and give examples of how a business might achieve it |
|
Definition
a core competency that clearly sets an organization apart from competitors and gives it an advantage over them in the marketplace
companies achieve this in many ways: products, pricing, customer service, cost efficiency, quality, knowledge |
|
|
Term
| describe environmental uncertainty: |
|
Definition
lack of complete information regarding what exists and what developments may occur in the external environment
-degree of complexity
-rate of change |
|
|
Term
describe approaches to organizational effectiveness:
systems resource |
|
Definition
| focuses on resource acquisition |
|
|
Term
describe approaches to organizational effectiveness:
internal process |
|
Definition
| focuses on operations efficiency |
|
|
Term
describe approaches to organizational effectiveness:
goal approach |
|
Definition
| focuses on accomplishing key objectives |
|
|
Term
describe approaches to organizational effectiveness:
strategic constituencies |
|
Definition
| focuses on stakeholder impact |
|
|
Term
| define organizational culture |
|
Definition
| system of shared beliefs and values that develops within an organization and guides the behavior of its members |
|
|
Term
| describe strong cultures in organizations |
|
Definition
commit members to do things that are in the best interest of the organization
discourage dysfunctional work behavior
encourage functional work behavior |
|
|
Term
|
Definition
| the process through which new members learn the culture of an organization |
|
|
Term
| describe observable culture |
|
Definition
| what one sees and hears when walking around an organization |
|
|
Term
|
Definition
underlying assumptions and beliefs that influence behavior and contribute to the observable culture
core values are beliefs and values shared by organization members
commitment to core values is a key to long-term success |
|
|
Term
| describe workplace spirituality |
|
Definition
practices that create meaning and shared community among organizational members
ex: trust and respect, honesty and openness, growth, development, ethics and social responsibility |
|
|
Term
| describe symbolic leadership |
|
Definition
use symbols well to establish and maintain a desired organizational culture
behave in ways that espouse organizations values
ex: use language metaphors, highlight and dramatize core values and observable culture, use rites and rituals to glorify performance |
|
|
Term
| define multicultural organizations |
|
Definition
| operating with inclusion and respect for diversity |
|
|
Term
|
Definition
| involves pluralism and respect for diversity |
|
|
Term
| describe organizational subcultures |
|
Definition
| cultures based on shared work responsibilities and/or personal characteristics |
|
|
Term
| challenges faced by minorities and women: |
|
Definition
| glass ceiling, misunderstanding and lack of sensitivity, sexual harassment, pay discrimination, job discrimination |
|
|
Term
| define competitive advantage |
|
Definition
| ability to do something so well that one outperforms competitors |
|
|
Term
|
Definition
| comprehensive plan guiding resource allocation to achieve long term organizational goals |
|
|
Term
| define strategic management |
|
Definition
| process of formulating and implementing strategies |
|
|
Term
| describe strategy formula |
|
Definition
process of creating strategy
involves assessing existing strategies, organization, and environment to develop new strategies capable of delivering future competitive advantage |
|
|
Term
| describe strategy implementation |
|
Definition
process of allocating resources and putting strategies into action
all organizational and management systems must be mobilized to support and reinforce the accomplishment of strategies |
|
|
Term
| strategic management process: strategy formulation |
|
Definition
| process of crafting strategies to guide allocation of resources |
|
|
Term
| strategic management process: strategy implementation |
|
Definition
| putting strategies into action |
|
|
Term
| what is a mission statement? |
|
Definition
reason for an organizations existence
identify: customers, products/services, location, underlying philosophy |
|
|
Term
| list typical operating objectives |
|
Definition
| profitability, market share, human talent, financial health, cost efficiency, product quality, social responsibility, innovation |
|
|
Term
|
Definition
| special strength that gives an organization competitive advantage |
|
|
Term
|
Definition
| strengths, weaknesses, opportunities, threats |
|
|
Term
Explain how Porters five forces model can be used to assess the attractiveness of an industry:
industry competition |
|
Definition
| the intensity of rivalry among firms and their competitive behavior |
|
|
Term
Explain how Porters five forces model can be used to assess the attractiveness of an industry:
new entrants |
|
Definition
| threat of new competitors entering market |
|
|
Term
Explain how Porters five forces model can be used to assess the attractiveness of an industry:
substitutive products or services |
|
Definition
| threat of substitute products or services |
|
|
Term
Explain how Porters five forces model can be used to assess the attractiveness of an industry:
bargaining power of suppliers |
|
Definition
| ability of resource suppliers to influence the cost of products or services |
|
|
Term
Explain how Porters five forces model can be used to assess the attractiveness of an industry:
bargaining power of customers |
|
Definition
| ability of customers to influence the price they will pay for products or services |
|
|
Term
|
Definition
| seek an increase in size and the expansion of current operations |
|
|
Term
| types of growth strategies- concentration strategies |
|
Definition
| concentrate on one area of study |
|
|
Term
| restructuring and divestiture strategies |
|
Definition
readjusting operations when an organization is in trouble
ex: correcting weaknesses by making changes to current operations, liquidation, restructuring, downsizing or rightsizing, restructuring through divestiture |
|
|
Term
| define strategic alliance |
|
Definition
| two or more organizations partner to pursue an area of mutual interest |
|
|
Term
|
Definition
high shares/high growth business
preferred strategy - growth |
|
|
Term
|
Definition
high share/low growth businesses
preferred strategy - stability or modest growth |
|
|
Term
| BCG Matrix: question marks |
|
Definition
low share/high growth business
preferred strategy - growth for promising question marks and restructuring or divestiture for others |
|
|
Term
|
Definition
low share/low growth business
preferred strategy - retrenchment by divestiture |
|
|
Term
| List four competitive strategies in Porters model |
|
Definition
differentiation strategy
cost leadership strategy
focused differentiation strategy
focused cost leadership strategy |
|
|
Term
| define organizing as a management function |
|
Definition
| process of arranging people and other resources to work together to accomplish a goal |
|
|
Term
| describe formal structures |
|
Definition
| structure of the organization in its official state |
|
|
Term
| describe informal structure |
|
Definition
| made up of the unofficial but often critical working relationships between organization members |
|
|
Term
| potential advantages of informal structures |
|
Definition
helping people accomplish their work
overcoming limits of formal structure
gaining access to interpersonal networks
informal learning |
|
|
Term
| explain functional structures |
|
Definition
people with similar skills and performing similar tasks are grouped together into formal work units
members work in their functional areas of expertise |
|
|
Term
| explain divisional structures |
|
Definition
| group together people who work on the same product or process, serve similar customers and/or are located in the same area or geographical region |
|
|
Term
|
Definition
| combines functional and divisional structures to gain advantages and minimize disadvantages of each |
|
|
Term
| functional structure potential advantages |
|
Definition
economies of scale
task assignments consistent with expertise and training
high-quality technical problem solving
in depth training and skill development
clear cut paths within functions |
|
|
Term
| functional structure potential disadvantages |
|
Definition
difficulties in pinpointing responsibilities
functional chimney problem
sense of cooperation and common purpose break down
narrow view of performance objectives
excessive upward referral of decisions |
|
|
Term
| divisional structure potential advantages |
|
Definition
• More flexibility in responding to environmental changes.
• Improved coordination.
• Clear points of responsibility.
• Expertise focused on specific customers, products, and regions.
• Greater ease in restructuring |
|
|
Term
| divisional structure potential disadvantages |
|
Definition
• Duplication of resources and efforts across divisions.
• Competition and poor coordination across divisions.
• Emphasis on divisional goals at expense of organizational goals. |
|
|
Term
| matrix structure potential advantages |
|
Definition
• Better cooperation across functions.
• Improved decision making.
• Increased flexibility in restructuring.
• Better customer service
• Better performance accountability.
• Improved strategic management |
|
|
Term
| matrix structure potential disadvantages |
|
Definition
• Two-boss system is susceptible to power struggles.
• Two-boss system can create task confusion and conflict in work priorities.
• Team meetings are time consuming.
• Team may develop “groupitis.”
• Increased costs due to adding team leers to structure. |
|
|
Term
| describe boundary-less organization |
|
Definition
eliminate internal boundaries among subsystems and external boundaries with the external environment
combination of team and network structures
absence of heirarchy, empowerment of team members, technology utilization, acceptance of impermanence |
|
|
Term
| define organizational design |
|
Definition
choosing and implementing structures that best arrange resources to serve the organizations mission
problem-solving activity that should be approached form a contingency perspective |
|
|
Term
| characteristics of mechanistic designs |
|
Definition
• Predictable goals
• Centralized authority
• Many rules and procedures
• Narrow spans of control
• Specialized tasks
• Few teams and task forces
• Formal and impersonal means of coordination |
|
|
Term
| characteristics of organic design |
|
Definition
• Adaptable goals
• Decentralized authority
• Few rules and procedures
• Wide spans of control
• Shared tasks
• Many teams and task forces
• Informal and personal means of coordination |
|
|
Term
|
Definition
| study of morality as it applies to business |
|
|
Term
| explain the theory of 5 rights as they apply to managers |
|
Definition
o Right 1
• The right to free, informed consent. (Treat people as they knowingly consent to be treated).
o Right 2
• The right to privacy (The right to act at will outside of work and control information about your private life).
o Right 3
• The right to freedom of conscience. (The right to reject orders that violate common accepted moral principles, if the individual really believes in them).
o Right 4
• The right to free speech (The right to criticize the ethics of others’ action so long as the criticism is conscientious, truthful, and does not violate others’ rights).
o Right 5
• The right to due process (The right to a fair and impartial hearing when the individual believes his or her rights were violated). |
|
|
Term
|
Definition
| do the consequences of actions produce the greatest good for the greatest number? |
|
|
Term
| distributive justice canon |
|
Definition
• a. treat people similarly who are similar in job-relevant ways
• b. treat people differently who differ in job-relevant ways
• c. differences in treatment should be in proportion to job-related differences |
|
|
Term
| consistent administration canon |
|
Definition
| rules should be clearly states and consistently and impartially enforced |
|
|
Term
|
Definition
| individual who commits an injustice is responsible for the costs of the victims suffering |
|
|
Term
| describe principle of double effect |
|
Definition
intent is to achieve the good effect
good effect is much greater than the bad effect |
|
|
Term
|
Definition
| set of rules and regulations that define boundaries |
|
|
Term
|
Definition
| act of making something out of nothing |
|
|
Term
|
Definition
| act of relating two or more previously unrelated phenomena |
|
|
Term
|
Definition
act of altering something that already exists so that it can:
perform its function better
perform a new function
perform in a different setting
be used by someone new |
|
|
Term
| explain 4 reasons for resistance to change |
|
Definition
o 1. Human Inertia
• Once we learn one way, we tend to keep doing it that way.
• Overcome by Encouragement
o 2. Timing
• Bad choices in timing, usually during other focus
• Overcome by using good timing
o 3. Surprise
• People are not given the time to deliberate change.
• Overcome by not surprising
o 4. Peer Pressure
• Can work for or against change.
• Overcome by using “bandwagon” |
|
|
Term
| explain 3 reasons for resistance to change |
|
Definition
o 1. Self-Interest
• Belief that the individual will ‘lose’ something.
• Overcome by Lobby/Persuasion
o 2. Misunderstanding
• Poor explanation for change, or not explained at all.
• Better Clever Explanation
o 3. Different Assessment
• People disagree on effects of change proposal.
• Track Effects/Publish Results |
|
|
Term
| explain Lewins 3 rules for changing a system |
|
Definition
o 1. Lewin’s Force Field Rule :
• It is better to reduce the forces restraining change than to increase the forces driving change.
o 2. Interrelated and Interdependent Parts
• You can never change just one part of a system.
o 3. Unpredictability
• Impact of changes are uncertain. |
|
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