Management Exam 1
mechanistic structure
An organizational structure in which authority is centralized, tasks and rules are clearly specified, and employees are closely supervised. -stable, low uncertainty narrow span of control
economic sanctions
Boycotts, embargoes, and other economic measures that one country uses to pressure another country into changing its policies. trade restrictions, denial of exports or imports
what are the types of heuristics?
Confirmation bias: subconsciously decide before investigating why it was right Overconfidence bias: the tendency for a person to overestimate their abilities. Anchoring Bias: influenced by first information received
What re the different organizational structures?
Functional: divides the organization based on specialized functional areas such as production, marketing, and sales for the purpose of management. -headquarters, then departments underneath Matrix: role conflict, because two bosses, project manager/division manager, and general manager geographic structure: CEO, then divisions, then president with geographical and functional split divisional org. structure: president then down Network team structure: diff teams Virtual structure: online, several diff projects
What is a Gantt Chart?
Henry gantt- indicates which tasks must be completed at which times in order to complete a project or task
Different manager roles
Informational- Monitor Disseminator Spokesperson Interpersonal- Figurehead Leader Liaison Decisional- Entrepreneur Disturbance Handler Resource Allocator Negotiator
Three environments
Internal: owners, managers, workers Task: suppliers, manufacturers, customers Macro: external
How do we help workers make ethical decisions?
Laws set the baseline, normative, personal, social, and professional ethics -use an ethical decision tree
Nokia Questions from HW
Mobile phone manufacturer- nokia lost relevance by not partnering with andriod failure to capitalize on the flip-phone trend
What is ethics?
Moral principles or values that defines right and wrong for a person or group
Types of aptitude quiz, name and define: managerial skills, leaders need
Technical: knowledgeable Conceptual: innovative Human: empathetic Human skill is being able to work with people, technical skill is knowledge in a given activity or subject, and conceptual skill is the ability to work with new ideas
Enron case question
The Enron scandal was a series of events involving dubious accounting practices that resulted in the bankruptcy of the energy, commodities, and services company Enron Corporation and the dissolution of the accounting firm Arthur Andersen
What is a vision statement?
The Vision Statement provides a concise description of the goals of the project which help the team stay focused on what is important from the organization point of view.
What organization oversees international trade?
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations
What are the components of Macro environment
The macro-environment is made up of six different forces they are: EXTERNAL Economic environment. Political environment. Demographic environment. Social-cultural environment. Technological environment. Ecological environment.
Utilitarianism
The theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people.
What affects a trade agreement?
Trade barriers- government imposed regulations that increase the cost and restrict the # of imported goods tariffs- direct tax on imported goods, EU aircraft tariff example nontariff barriers- nontax methods of increasing cost, Huawei example, because it's blacklisted
Natural disasters and human induced problems
Weather, extreme storms, pollution, health, food, stress
Difference between utilitarianism and universalism
While the Universalist approach emphasizes consistency at all times through its universalizability underpinning, the Utilitarian approach supports flexibility and thus, different decisions are based on the needs and circumstances at hand
Corporate Social Responsibility (CSR)
a business's concern for society's welfare -sell a good product and give back to the community in some way, ex) toms. -no trade off between being social responsible and economic performance
Expatriot
a person who lives outside their native country USA citizen that lives in a different country
What is an ethical dilemma?
a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal
What is a mission statement?
a statement of the organization's purpose - what it wants to accomplish in the larger environment
What is a trade agreement?
an intergovernmental agreement designed to manage and promote trade activities for a specific region -WTO deals with global rules of trade between regions
organic structure
an organizational form that emphasizes flexibility -unstable, high uncertainty environment
What should I do vs, not do for an important decision?
be aware of the role emotions play in decision making. John Bargh said our emotional states change what are gut tells us-emotions cloud judgement -need to use logic and emotion to make an effective decision -Use subconscious and conscious thought to make a decision often best, conscious thought should come first.
Sustainability
economic development that generates wealth and meets the needs of current generation while preserving the environment for the needs of future generations ex) tesla, gardening,
servant leadership
focuses on providing increased service to others—meeting the goals of both followers and the organization—rather than to oneself.
What is the FDI?
foreign direct investment -allows the transfer of technology—particularly in the form of new varieties of capital inputs—that cannot be achieved through financial investments or trade in goods and services. FDI can also promote competition in the domestic input market.
Economic forces
globalization supply chain currency and exchange employement and wage rates lending policies of financial institutions
what are the Positive and negatives of team decision making
group think: pitfall, pressure for members to agree w each other Critical thinking: advantage, defining the problem
Reparation
if you come back to work in US after moving
What is environmental scanning & monitoring?
inflation, economic indicators
Sociocultural forces
influences and trends originating in a country's, a society's, or a culture's human relationships and values that may affect an organization -DEMOGRAPHIC TRENDS -lifestyle changes availability skills attitudes toward work gender issues
Technological forces
information technology and the internet new production forces new innovations that are disruptive How technology is sold
What is a programmed vs a nonprogrammed decision
programmed: low involvement decisions, less time invested in making the decision, technique,choosing first acceptable solution-satisficing, saves time Nonprogrammed: high involvement decision, more complex decision, what can success look like?
What are heuristics?
simplified principles used to make decisions; rules of thumb -impact decision making
What is emotional intelligence? what are the parts of it?
the ability to perceive, understand, manage, and use emotions -self-awareness,understand your biases -self regulations, empathy, social skills
What is creativity?
the ability to produce new and valuable ideas
cultural intelligence
the ability to understand and respond appropriately to different cultural contexts and situations
Universalism
the ethical system stating that all people should uphold certain values that society needs to function
Define globalization
the process by which businesses or other organizations develop international influence or start operating on an international scale.
What is company culture?
values beliefs and attitudes shared by organizational members
Government and political forces
- government legislation - international law - wars - local regulations - taxation - trade union activities pay transparency laws tariff wars california EV laws
Reflective vs. Reactive Decision
1) reflective- logical, rational- process information 2) Reactive system- quick, gut instinct, act without weighing all options
6 step model to how you should make a decision
1. Identify problem 2. generating alternative solutions 3. evaluate them 4. select a solution 5. implementing 6. evaluating the solution
Chapter 1
10 questions
Chapter 6
10 questions
Chapter 2
11 questions
Chapter 3
3 questions
What are the different functions of management?
4 functions: 1) planning- defining performance goals and plans to obtain them 2) organizing- assigning tasks and allocating resources 3) leading- using influence to motivate employees 4)controlling- monitoring employee activities
Chapter 4
7 questions
Chapter 5
9 questions
What is a strategic alliance?
A long-term partnership between two or more companies established to help each company build competitive market advantages. Makes going international easier
difference between mission and vision
A mission statement defines the organization's business, its objectives, and how it will reach these objectives. A vision statement details where the organization aspires to go.
Hawthorne Studies
A series of studies during the 1920s and 1930s that provided new insights into individual and group behavior -elton mayo hawthorne studies- helped understan the effect of group social interactions, employee satisfaction, and attitudes on individual and group performance. The hawthorne effect is modifying behavior when being watched
