FINAL Principle of Management

how to build/enhance relationships with virtual teams

A virtual team is a group made up of geographically or organizationally dispersed members who are linked primarily through advanced information and Telecommuncations technologies. Don't assume ever Don't limit your conversation to professional topics Make time for face-to-face virtual meetings Validate people when they do or say something good Follow/check in

what are the cognitive biases that effect manager s

Being influenced by initial impressions. Anchoring bias: occurs when we allow initial impressions, statistics, and estimates to act as anchors to our subsequent thoughts and judgments. Justifying past decisions. Many managers fall into the trap of making choices that justify their past decisions, even if those decisions no longer seem valid. For example, when a manager continues to pour money into a failing project, hoping to turn things around. This is sometimes referred to as the sunk cost effect. Seeing what you want to see. People frequently look for information that supports their existing instinct or point of view. Confirmation bias- occurs when a manager puts too much value on evidence that is consistent with a favored belief or viewpoint and discounts evidence that contradicts it. Perpetuating the status quo- managers may base decisions on what has worked in the past and may fail to explore new options. Being influenced by emotions. Being Overconfident

Extra info administrative Model

Bounded rationality: means that people have limits, or boundaries, or how rational they can be Satisficing: means that decions makers choose the first solution alternative that satisfies minimal decisions criteria. (Time crunch) Intuition: represents a quick apprehension of a decision situation based on experience but without conscious thought. (Not irrational b/c it based off years of practice) Quasirationality: means combining intuitive and analytical though

ceremony

Ceremony: a planned activity at a special event that is conducted for the benefit of an audience. Managers hold ceremonies to provide dramatic examples of company values. Ceremonies are special occasions that reinforce valued accomplishments, create a bond among people by allowing them to share an important event and anoint and celebrate heroes. Example, NBA chose southwest airlines as the league's official airline, southwest launched another specialty plane the "slam dunk one" colored blue and orange with a large basketball painted on the nose of the plane

why do communication errors even occur

Communication errors can occur from a lot of things. Like no feedback or the channel used to communicate wasn't the right one to use, etc. When there is an error in communication it can get rumors started/ negative things. From lack of listening or asking questions. Even non-verbal communication can send someone the wrong message.

what is culture and why is it important

Culture is the set of key values, beliefs, understandings, and norms shared by members. The concept of culture helps managers understand the hidden, complex aspects of organizational life. Culture is a shared values and assumptions about how things are done within the organization. It is important because this pattern is learned by members as they cope with external and internal problems and taught to new members as the correct way to perceive, think, and feel

why should companies even consider being ethical

Ethics is the code of moral principles and values that governs the behaviors of a person or group with respect to what is right or wrong. Ethics set standards as to what is good or bad conduct and decions making. An ethical issue is present in a situation when the actions of a person or organization may harm or benefit others. Companies should consider being ethical because business ethics enhances the law by outlining acceptable behaviors beyond government control. Corporations establish business ethics to promote integrity among their employees and gain trust from key stakeholders, such as investors and consumers.

what are the types of teams

Functional Team: is composed of a manager and his or her subordinates in the formal chain of command. Sometimes called a command team, the functional team in some cases may include three or four levels of hierarchy within a functional department. The cross-functional team is composed of employees from about the same hierarchal level but from different areas of expertise A Task force is a group of employees from different departments who deal with a specific activity and exist as a team only until the task is completed Special purpose team: another type of cross functional team is a special -purpose team, is created outside the formal organization structure to undertake a project of special importance or creativity. Self-managed teams: typically consist of 5 to 20 multiskilled workers who Roate jobs to produce an entire product or service or at least one complete aspect or portion of a product or service. These types of teams are related to the trend toward bosslessness.

types of sexual harassment

Generalized Inappropriate/offensive Solicitation with promise of reward Coercion with the threat of punishment Sexual crimes and misdemeanors

globalization

Globalization: refers to the extent to which trade and investments, information, social and cultural ideas, and political cooperation flow between countries. This also refers to the mutual dependence of the countries across the world, facilitated by free trade and removal of trade barriers

Cons' / limitations to planning

Goals and plans can create too much pressure to achieve targets Goals can create a false sense of certainty Goals and plans may cause rigidity in a turbulent environment Goals and plans can get in the way of intuition and creativity

Pro's to planning

Goals and plans provide a source of motivation and commitment Goals and plans guide resource allocation Goals and plans are guides to action Goals and plans set a standard of performance

characteristics important for leaders

Honest, competent, forward looking, inspiring, intelligent

Are interviews a useful tool? do we use them a-lot?

Interviews are a useful tool; we use them a lot. Interviews give managers the ability to meet the applicant and see if they are a good fit.

what are some dysfunctions of teams

Lack of trust Fear of conflict Lack of commitment Avoidance of accountability Intention to results

Locus of Control

Locus of control refers to how people perceive that cause of life event- whether they place primary responsibilities within themselves (internal) or outside forces (external)

change perception

May increase the status attached to job artificially or distort other perceived rewards to bring into balance.

Know NAFTA

North American Free Trade Agreement: which went into effect January 1,1994 merged the United States, Canda, and Mexico into a single market. Intended to spur growth and investments, increase exports, and expand jobs in all three nations, NAFTA broke down tariffs and trade restrictions over 15-year period in several key areas. Thus by 2008, virtually all U.S. industrial exports into Canda and Mexico were duty free.

feedback

Occurs when the employee responds w/ a return message. You need this. Without feedback the communication cycle is incomplete.

outsourcing

Organizations have a couple of ways to become involved internationally. One is to seek cheaper resources, such as materials or labor, offshore which is called offshoring or global outsourcing. These are the three approaches that companies often use to engage in the international arena, either to acquire resources or to enter new markets. Exporting Partnerships

soft position power

Personal soft power: Personal power most often comes from internal sources such as individual special knowledge or personal characteristics. expert power, referent power

self-confidence

Refers to general assurance in one's own ideas, judgements, and capabilities

ritual

Ritual: are pre-planned events or varying formality, social, public, and have both manifest and latent purposes

slogan

Slogan: a phrase or sentence that succinctly expresses a key corporate value. Many companies use slogans or sayings to convey special meaning to employees. For Example, Disney uses the slogan "The happiest Place on Earth". Or Ritz-Carlton "we are ladies and gentlemen serving Ladies and Gentlemen" to demonstrate its cultural commitment to take care of both employees and customers.

what are some characteristics of strategic conversation

Strategic conversation: refers to people talking across boundaries and hierarchical levels about the team or organizations vision, critical, strategic themes and the values that help achieve important goals. Strategic Conversation Characteristics: open communication climate, asking questions, listening, feedback

types of interviews

Structured interviews: use a set of standardized questions that are asked of every applicant so comparisons can easily be made Nondirective interview: the interviewer asks broad, open-ended questions and permits the applicant to talk freely Panel interviews: the candidate meets with several interviewers who take turns asking questions Extreme interviewing: test jobs candidates' ability to handle problems, cope with change, think on their feet, and work well with others.

symbol

Symbol: is an object, act, or event that conveys meaning to others. For example, amazon has many symbols that convey frugality, one of the company's core values. Like the "Door Desk". This became such a symbol of frugality for amazon that they give out "door desk "awards.

what are some characteristics of cohesive teams

Team cohesiveness is defined as the extent to which members are attracted to the team and motivated to remain in it. Members of a highly cohesive teams are committed to team activities, attend meetings, and are happy when the teams succeed. Team interaction Shared goals Personal attraction to the team

what is the point of an ethics committee

The Ethics committee is a group of executives (and sometimes lower-level employees as well) appointed to oversee company ethics. The committee provides rulings on questionable ethical issues and assumes responsibility for discipline wrongdoers. An expert on the topic of ethics said "management is responsible for creating and sustaining conditions in which people are likely to behave themselves.

what is the bottom-up-approach

The bottom-up approach is under exploration. There are three innovation strategies for new products and Technolgies. Exploration, Cooperating, and Innovation Rules that all lead to new products, services, and technologies. Therefore, the bottom-up approach is to encourage creativity and innovation by creating organizational characteristics such as open communication, a playful culture, and freedom to take risks and make mistakes. The bottom-up approach involves encouraging the flow of ideas from lower levels and making sure that they get heard and acted upon by top executives.

normative/classical Model

The classical model of decision making is normative, which means that it defines how a decision maker should make decision. It does not describe how managers make decisions so much as it provides guidelines on how to reach an ideal outcome for the organization. The ideal, rational approach of the classical model is often unattainable by real people in real organizations, but the model has value because it helps decision makers be more rational and not rely entirely on personal preference in making decisions. Classical Model: decision making is based on rational economic assumptions and managers beliefs about what ideal decions making should be.

4 assumptions with Classical Model

The decision maker operates to accomplish goals that are unknown and agreed on. Problems are precisely formulated and defined. The decions maker strives for conditions of certainty and tries to gather complete information. All alternatives and the potential results for each are calculated. Criteria for evaluating alternatives are known. The decision maker selects the alternative that will maximize the economic return to the organization. The decision maker is rational and uses logic to assign values, order preferences, evaluate alternatives, and make the decisions that will maximize the attainment of organizational goals.

decoding

The employee decodes the symbols to interpret the meaning of the message

hard position power

The traditional managers power comes from organization legitimate power, reward power, coercive power

The difference between a leader and a manger

They reflect two different sets of qualities within a single individual. Management organizes the production and supplies fish to people. Leadership motivates people to fish.

Political Model

Useful for making nonprogrammed decisions when conditions are uncertain, information is limited, and their manager conflicts about what goals to pursue or what course of action to take. A coalition is an informal alliance among managers who support a specific goal Coalition building is the process of forming alliance among managers Closely resembles the real environment

what is a goal

a desired future circumstance or condition that the organization attempts to realize. Goals are important because organizations exist for a purpose, and goals define and state that purpose

what are cognitive biases

a limitation in objective thinking that is caused by the tendency for the human brain to perceive information through a filter of personal experience and preferences.

encoding

a manager who wants to communicate encodes a thought or idea by selecting symbols with which to compose a message.

noise

a message can be over the phone, nonverbal or verbal. The noise in which you make to relay a message.

agreeableness

a person can have a good relationship with others understanding and trusting good natured, like-able, cooperative, forgiving

tactical goals

after strategic goals are formulated, the next step is to define tactical goals, which are the results that major Divsion's and departments within the organization intend to achieve. These goals apply to middle management and describe what major subunits must do for the organization to achieve its overall goals.

what is disruptive technology

an innovation that significantly alters the way that consumers, industries or businesses operate. A disruptive technology sweeps away the system or habits it replaces because it has attributes that are recognizably superior. Example, Netflix to blockbuster. Blockbuster saw Netflix as a threat. Smartphones to digital camera business.

glass ceiling

an invisible barrier that exists for women and minorities that limits their upward mobility in organizations. They can look up through the ceiling and see top management, but prevailing attitudes and stereotypes are invisible obstacles to their own advancement.

mission

at the top of the goal hierarchy is the mission the organization reason for existence. The mission describes the organizations values, aspirations and reason for being. A well-defined mission is the basis for the development of all subsequent goals and plans.

openness

broad range of interests, willingness to try new things, consider innovative ideas

what are some other names for outsourcing

can also be called global outsourcing, and offshoring. This means engaging in the international division of labor so that work activities can be done in countries with the cheapest sources of labor and supplies.

what are some countries to which companies outsource

china and India

What is the different between a joint venture and a merger

companies may also become involved in merges or joint vergers to reduce environmental uncertainty.

measure set targets and standards; appraise performance and develop people recognize the value of employees and develop this critical organizational asset

controlling

The Big 5 five personality traits

extroversion, agreeableness, conscientiousness, emotional stability(neutrocism), openness

external locus of control

feel like a pawn of their own fate

leave the job

find a new job, find a more favorable balance of rewards.

conscientiousness

focused on few goals, behaving in responsible ways, dependable, persistent, achievement orientated.

innovative decisions making are innovative techniques that can help managers watch out for and avoid mistakes caused by cognitive biases

groupthink and brainstorming

goal difficulty

hard goals are more motivating than easy ones. Easy goals provide little change for employees

what kinds of power do leaders utilize

hard position power and soft position power

characteristics important for followers

honest, competent, dependable, cooperative, loyal

self-management

how to mange your many big and small commitments effectively so that you can get them accomplished. Clarity of mind: clear mind, put all other thoughts in a system outside your mind Clarity of objectives: clear on what exactly needs to be done. Decide the steps needed to take action. An organized system: keep reminders in a well-organized system

change work effort

increase or decrease his or her inputs in organizations

Joint Venture

involves strategic alliance or program by two or more organizations. This typically occurs when a project is too complex, expensive, or uncertain for one firm to handle alone. For example, Sikorsky aircraft and lock head Martin, teamed up to bid on a new contract for fleet or marine helicopters. although these two companies have competed in the past, they joined together to be more completive again rivals such as boeing.

self efficiency

is an individual's strong belief that he or she can successfully accomplish a specific task

what is channel richness

is the amount of information that can be transmitted Durning a communication episode. These are influenced by 3 characteristics. The ability to handle multiple cues simultaneously Ability to facilitate rapid, two-way feedback Ability to establish a personal focus

Organizational effectiveness

is the degree to which the organization achieves a state goal of succeeds in accomplishing what it tries to do. This further means providing a product or service that customers value

channel

is the medium by which the message is sent

Internationalization

is the practice of designing products, services and internal operations to facilitate expansion into international markets. This also represents a process of developing products and services, to bring about expansion into the foreign market

what is a top-down approach

is where an executive decisions maker or other top person makes the decisions of how something should be done, this approach is disseminated under their authority to lower levels in the hierarchy, who are, to a greater or lesser extent bound by them.

administrative Model

it is descriptive, meaning that it describes how managers make decisions in complex situations.

motivate and communicate teamwork via decisions on pay, promotions, etc, and though communication

leading

self-awareness

means being aware of the internal aspects of one's nature, such as personality traits, beliefs, emotions, and perceptions and appreciating how your patterns affect other people.

goal acceptance

means that employees must buy into it. Believe in it

what are managers using to crease efficiency and also enhance effectiveness?

mobile apps, for example SQAURE the credit card machine attached to a phone.( star nutrition)

organize and dive work into manageable activities and select people to accomplish tasks

organizing

extroversion

outgoing, sociable, assertive, comfortable with interpersonal relationships

internal locus of control

people feel control of their own fate

Feedback

people get information about how well they are doing in progressing toward goal achievement.

what are the P's of the Triple Bottom Line

people, planet, and profit

emotional stability (neoutrocism)

person is calm, enthusiastic, and self-confident

other sources of power

personal effort, network of relationships, information

1. set objective, establish goals for group and decide what must be done to achieve them

planning

What are the functions of mangers

planning, organizing, leading and controlling

Goal Setting Theory

proposes that managers can increase motivation and enhance performance by setting specific, challenging goals, and then help people track their progress toward goal achievement by providing timely feedback. Goal setting increases motivation because it enables people to focus their energies on the right direction.

manager qualities focuses on the organizational

rational, maintains stability, assign tasks, organizes, analyzes, position power

what is a triple bottom line

refers to measuring an organizations social performance, its environmental performance, and its finical performance

goal specificity

refers to the degree to which goals are concrete and unambiguous

Organizational Efficiency

refers to the number of resources used to achieve an organizational goal. It is based on how much raw material, money, and people are necessary for producing a given volume of output. Efficacy can also be defined as the number of resources used to produce a product or service.

groupthink

refers to the tendency of people in groups to suppress contrary opinions. When people slip into a group thinking their desire for harmony outweighs concern over decision quality. Don't want disharmony group and group think does that. No one wants to be that one person to go against everyone even though it could be the better idea.

what is the difference between effectiveness and efficiency

so its the mangers reasonability to coordinate resources in and effective an efficient manner to accomplish the organizations goals

strategic goals

sometimes called official goals, are broad statements describing where the organization wants to be in the future. These goals pertain to the organization as a whole rather than to specific divisions or departments. Example, spirit airlines switched from a strategic goal focused on growth to oner focused on operational reliability and customer service. For example, Spirit has goals for increasing staff, improving pricing transparency, improving on-time performance and decreasing the number of customer complaints.

which team is best for creative endeavors

specialpurposeteam

The kinds of goals

strategic, tactical, operational

what are the dimensions of a general environment

technological, natural, sociocultural, economic, legal/political, international

leadership

the ability to influence people toward the attainment of goals. Many types of leadership can be effective.

operational goals

the results from departments, work groups, and individuals are the operational goals. They are precise and measurable. For example, process 150 sales applications each week, or achieve 90% of deliverers on time.

message

the tangible formulation of thought or idea sent to the employee

what is important about the sociocultural dimension

this dimensions of the general environment represents the demographic characteristics, norms, customs, and values of the general population. Important sociocultural characteristics are geographical distribution and population density, age and education levels

how to deal with Inequity

this is apart of the equity theory: focuses on the individuals' perceptions of how fairly they are treated compared with others. This is how you reduce perceived inequity.

Merger

this occurs when two or more organizations combine to become one. For example, charter communications acquired timer warner cable and bright house networks in 2016 to form the second-largest cable company in the united states, and Ab InBev bought SABmiller to create a 104 billion beverage company.

incremental innovation/technologies

to a series of small improvements made to a company's existing products or services. Example, Gillette constantly upgrade its razor, adding new features, like extra blades, heated razors. Another example apple to its iPhone always offering upgrades. Apple watches are always making updates to those and new features. Same with Air pods.

change outcome

underpaid person may request a salary increase or bigger office

Brainstorming

uses a face-to-face interactive group to spontaneously suggest as many ideas as possible for solving a problem.

what is the point of planning

usually incorporates both ideas, it means determining the organization's goals and defining the means for achieving them Some managers believe that planning is necessary to accomplish anything, whereas others think planning limits personal and organizational performance. Both opinions have merit because planning can have both advantages and disadvantages.

leader qualities focus on people

visionary, promotes change, defines purpose, nurtures innovation, personal power

Do mangers have cognitive biases that can lead to bad decisions

yes

vision

your vision is where you want to be and what you want to achieve in life. Your goals offer a roadmap to your visions. If you don't clearly envision your end destination, you cannot make your roadmap. Setting a vision is the most effective strategy for setting goals b/c it gives your goal direction.