MGMT 310 My set

Internal Audit

1. Assesses what the company has done for itself 2. What it has done for its customers or other recipients of its goods or services

Leading Change

1. Establishing a Sense of Urgency 2. Creating a Guiding Coalition 3. Developing a Vision & Strategy 4. Communicating the Change Vision 5. Empowering Broad-Based Action 6. Generating Short-Term Wins 7. Consolidating Gains & Producing More Change 8. Anchoring New Approaches in the Culture

Stages of Group Development

1. Forming 2. Storming 3. Norming 4. Performing 5. Adjourning

External Audit

1. Investigates other organizations for possible merger or acquisition. 2. Determines the soundness of a company that will be used as a major supplier. 3. Discovers the strengths and weaknesses of a competitor to maintain or better exploit competitive advantage

3 Criteria for Building Team Effectiveness

1. Productive output of the team meets or exceeds standards of quantity and quality 2. Team members realize satisfaction of their personal needs 3. Team members remain committed to working together again

Group

A collection of people who interact to undertake a task but do not necessarily perform as a unit or achieve significant performance improvements

Collective Efficacy

A group's perception of its ability to successfully perform well "We can do this" "This is a good group"

Job rotation

A job enrichment strategy that involves moving employees from one job to another

Current ratio

A liquidity ratio that indicates the extent to which short term assets can decline and still be adequate to pay short-term liabilities

Product champion

A manager who takes "ownership" of a project and provides the leadership and vision that take a product from the idea stage to the final customer.

Principle of exception

A managerial principle stating that control is enhanced by concentrating on the exceptions to or significant deviations from the expected result or standard.

Feedback Control

A mechanism for gathering information about performance deficiencies after they occur

Technical innovator

A person who develops a new technology or has the key skills to install and operate the technology.

Benchmarking

A process by which a company compares its performance with that of high-performing organizations

Team

A small number of people with complementary skills who are committed to a common purpose, a set of performance goals, and an approach for which they hold themselves mutually accountable

Force-field analysis

A technique for determining which forces drive a proposed change and which forces restrain it.

Equity Theory

A theory that states that people will be motivated when they perceive that they are being treated fairly.

Competing (CHS)

Achieve goals at the expense of another "This is what I want and I am going to fight for it"

Executive champion

An executive who supports a new technology and protects the product champion of the innovation.

Task specialist

An individual who has more advanced job related skills and abilities than other group members possess

Control

Any process that directs the activities of individuals toward the achievement of organizational goals

Avoiding (CHS)

Avoid and hope it goes away "I don't think there is a problem"

Accommodating (CHS)

Cave in to please another "If its important to you, I can go along with it"

Horizontal Communication

Communication that flows among managers and workers who are at the same organizational level

Downward Communication

Communication that flows from higher to lower levels in an organization

Upward Communication

Communication that flows from lower to higher levels in an organization

Boundless Organization

Company allows info to be flowed through company as freely as possible

Clan control

Control based on the norms, values, shared goals, and trust among group members.

Market control

Control based on the use of pricing mechanisms and economic information to regulate activities within organizations

Feedforward Control

Control that allows managers to anticipate problems before they arise

Concurrent Control

Control that takes place while a work activity is in progress

Chief Information Officer (CIO)

Coordinate the technological efforts of the various business units and identify ways that technology can support the company's strategy

Filtering Communication

Distorting/withholding information due to a previous negative experience with the receiver.

ERG Theory

Existence- Corresponds to Maslow's physiological/safety needs. Relatedness- Corresponds to Maslow's social needs Growth- Corresponds to Maslow's esteem/self-actualization needs Needs are not ordered and dependent upon the context

Standard

Expected performance for a given goal: a target that establishes a desired performance level, motivates performance, and serves as a benchmark against which actual performance is assessed.

Reinforcement schedules

Fixed ratio Variable ratio Fixed interval Variable interval

Strategy

Focused on customers, continually fine-tuned based on marketplace changes, and clearly communicated to employees

Execution

Good people, with decision making authority on the front lines, doing quality work and cutting costs

Traditional workgroups

Groups that have no managerial responsibilities

Emotional Disconnects

Happen when the Sender or the Receiver is upset, whether about the subject at hand or about some unrelated incident that may have happened earlier

Job enrichment

Increasing the number of tasks in a particular job and giving workers the authority and control to make meaningful decisions about their work

Team maintenance specialist

Individual who develops and maintains team harmony

Grapevine Communication

Informal communication system through which messages are passed in an organization, especially rumors and myths The social network of informal communications Provides people with information Helps them solve problems Teaches them how to do their work successfully

Horizontal stretch goals

Inspires people to take on different responsibilities

Conflict

Is a process where one party perceives another party has negatively influenced, or is about to negatively influence, something the first party cares about.

Normative controls should be used when

It is difficult to create good measures of work behavior and when the culture is strong.

Structure:

Making the organization easy to work in and easy to work with, characterized by cooperation and the exchange of information and knowledge throughout the organization

Written Communication Advantages

Message can be revised several times Permanent record that can be saved Message stays the same even if relayed through many people Receiver has more time to analyze the message

Hertzberg's Two-Factor Theory

Motivator factor: the factors that lead to satisfaction and the things that make employees work harder; examples like enjoying work and career progression Hygiene factor: the factors that can lead to dissatisfaction and a lack of motivation if they are absent; like salary, benefits, company policies, etc.

Punishment. (Reinforcement theory)

Negative behavior followed by negative consequences. Manager demotes employee

Extinction (Reinforcement theory)

Negative behavior followed by removal of positive consequences. Manager ignores the behavior

Return on investment (ROI)

Net profit after taxes divided by total assets A ratio of profit to capital used, or a rate of return from capital

Biased Language Communication

Offensive language likely reflective of stereotypes

Culture:

One that motivates, empowers people to innovate, rewards people appropriately, entails strong values, challenges people, and provides a satisfying work environment

Distributive Justice

Perceived fairness of the amount and allocation of rewards among individuals E.G.....Pay

Procedural Justice

Perceived fairness of the process used to determine the distribution of rewards E.G.........Performance Appraisals

Positive Reinforcement. (Reinforcement theory)

Positive behavior followed by positive consequences. Manager praises the employee

Negative Reinforcement (Reinforcement theory)

Positive behavior followed by removal of negative consequences Manager stops nagging employee

Reflection

Process by which a person states what he or she believes the other person is saying

Compromising (CHS)

Sacrifice part of each party's goals so neither wins or loses. "Maybe we can both agree to give a little"

Vertical stretch goals

Setting a goal of achieving 110% target achievement, would be a __________ stretch goal because it builds on current activities.

Jargon Communication

Special words or expressions that are used by a particular profession or group and are difficult for others to understand.

SMART goals

Specific Measurable Attainable Realistic Timely

Virtual Teams

Teams that are physically dispersed and communicate electronically more than face-to-face

Management Teams

Teams that coordinate and give direction to the subunits under their jurisdiction and integrate work among subunits

Work Teams

Teams that make or do things like manufacture, assemble, sell, or provide service

Parellel Teams

Teams that operate separately from the regular work structure, and exist temporarily

Project and development teams

Teams that work on long term projects but disband once the work is completed

Interactional Justice

The perceived degree to which an individual is treated with dignity, concern, and respect. Provides enough information for you to perform your job.

Selective Perception Communication

The phenomenon that people often pay the most attention to things they already agree with and interpret them according to their own predispositions.

Disruptive Innovation

The process by which a product, service, or business model takes root initially in simple applications at the bottom of a market and then moves "up market," eventually displacing established competitors

Budgeting

The process of investigating what is being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences • Also called budgetary controlling

Empowerment

The process of sharing power with employees, thereby enhancing their confidence in their ability to perform their jobs and their belief that they are influential contributors to the organization.

Organization development (OD)

The system-wide application of behavioral science knowledge to develop, improve, and reinforce the strategies, structures, and processes that lead to organizational effectiveness

Social Loafing

The tendency for people in a group to exert less effort when pooling their efforts toward attaining a common goal than when individually accountable

Expectancy Theory

The theory that people will be motivated to the extent to which they believe that their efforts will lead to good performance, that good performance will be rewarded, and that they will be offered attractive rewards

Norming

The third stage of team development, in which team members begin to settle into their roles, group cohesion grows, and positive team norms develop

Communication

The transmission of information and meaning from one party to another through the use of shared symbols

Bureaucratic control

The use of rules, regulations, and authority to guide performance

Written Communication Diadvantages

Time consuming Lack of feedback May not be read

Information Overload Communication

Too much information is given at one time.

Debt-equity ratio

Total Debt/Total Equity A leverage ratio that indicates the company's ability to meet its long-term financial obligations

To be effective, control systems must

Use multiple approaches to meet various employee needs.

Quality circles

Voluntary groups of people drawn from various production teams who make suggestions about quality

Collaborating (CHS)

Win-win for both parties "Lets look at the bigger picture and find out how we can both get what we want"

Semantics Communication

Words take on different meaning for different people

Transnational Teams

Work groups composed of multinational members whose activities span multiple countries

Maslow's Hierarchy of Needs

physiological, safety, love/belonging, esteem, self-actualization

Environmental Scanning

• Focuses on what can be done and what is being developed • Emphasizes identifying and monitoring the sources of new technologies for an industry