MGMT Final Review

Disadvantages of electronic Communication

-Digital may not be able to solve complex problems. -There can be the inability to pick up subtle, nonverbal, or inflectional clues. -Electronic messages may be seen by those for whom they are not intended.

Advantages of electronic communication

-More information is shared. -There is speed and efficiency in delivering routine messages to large numbers of people. -Digital saves paper, postage, meetings, travel budgets, and conference calls.

More likely to succeed as an entrepreneur if :

1. Commitment and determination 2. Leadership 3. Opportunity Obsession 4. Tolerance of risk, ambiguity, and uncertainty 5. Creativity, self-reliance, and ability to adapt 6. Motivation to excel

Factors contributing to unethical behavior

1. excessive emphasis on short-term revenues over long-term considerations. 2. Failure to establish written code of ethics. 3. A desire for simple, quick fix solutions to ethical problems. 4. An unwillingness to take an ethical stand that imposes financial costs. 5. Consideration of ethics solely as a legal issue or a public relations tool 6. Lack of clear procedures for handling ethical problems 7. Responding to the demands of shareholders at the expense of other constituents

Decision-making process

1. identify and diagnose the problem 2. generate alternative solutions 3. evaluate alternatives 4. make the choice 5. implement the decision 6. evaluate the decision

Change management process

1.Establishing a sense of urgency 2.Creating the guiding coalition 3.Developing a vision and strategy 4.Communicating the change vision 5.Empowering broad-based action 6.Generating short-term wins 7.Consolidating gains and producing more change 8.Anchoring new approaches in the culture

Techniques for building cohesiveness

1.Recruit members with similar attitudes, values, and backgrounds 2.Maintain high entrance and socialization standards 3.Keep the team small 4.Help the team succeed, and publicize it successes. 5.Be a participative leader 6.Present a challenge from the outside team 7.Tie rewards to team performance

proactive approach

A ____ to developing and managing a diverse workforce has become a fundamental business requirement.

wholly owned subsidiary

A _____ is an independent company owned by the parent corporation-is the most costly method of serving an overseas market.

real team

A _____ is formed of people with complementary skills who trust one another and are committed to a purpose, common performance goals, and a common approach for which they hold themselves accountable.

participative

A ______ leadership style is more appropriate for people who have internal locus control because these individuals prefer to have more influence over their own work (and lives).

performance gap

A ________ is the difference between actual performance and the performance that should or could exist. Is a gateway to the unfreezing process.

becomes a team

A group generally ____ when team members commit to a purpose, pursue goals, and hold themselves accountable to one another.

intrinsic

A person derives an ____ reward directly from performing the job itself.

ethical issue

An __________ is a situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally wrong or right.

standardization and formalization

An important assumption underlying both _____ is that the rules and procedures should apply to most(if not all) situations.

strengths

An organization's ___________ might include skilled management, positive cash flow, and well-known and highly regarded brands.

Lean manufacturing

Another organizing approach, _______, strives for the highest possible productivity and total quality, cost-effectively, by eliminating unnecessary steps in the production process and continually striving for improvement.

control

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

world class

Being __________ requires applying the best and latest knowledge and ideas and having the ability to operate at the highest standards of any place anywhere.

Supply Chain Management

By ______________ , also known as extended enterprise, we mean the managing of the entire network of facilities and people that obtain raw materials from outside the organization, transfer them into products, and distribute them to customers.

mass production

Companies with higher volumes and lower varieties than a job shop use large batch, or _____, technologies.

diverse workforce

Effectively managing a ____ requires overcoming challenges such as unexamined assumptions, lower cohesiveness and communication problems.

Survivor's syndrome

Employees who retain their jobs after downsizing often experience heavier workloads and loss of organizational commitment and become risk-averse, which are usually symptoms of ____.

Communication process

Encode, transition, decode

Joint venture

Establishing a _______ with a company in another country has been a popular means of entering a new market

opportunities

Examples of ___________ are a new technology that could make the supply chain more efficient , and an underserved market niche.

franchising

In ______, the company sells limited rights to use its brand name in return for a lump-sum payment and a share of the franchisee's profits.

two-way

In ________ communication , information flows in two directions-the receiver provides feedback , and the sender is receptive to the feedback.

one-way

In _________ communication, information flows in only one direction-from the sender to the receiver, without the feedback loop

Decentralized

In ___________ organizations, more decisions are made at lower levels.

Functional

In a ____ organization, jobs (and departments) are specialized and grouped according to business functions and the skills they acquire: production, marketing, human resources.

Centralized

In a __________ organization important decisions usually are made at the top.

Moving

In the _______ is to institute the change, begins with establishing a vision of the desired future.

unfreezing

In the ________ stage, management realizes that its current practices are no longer appropriate and the company must break out of its present mold by doing things differently.

Licensing

International ____________ is an arrangement by which a licensee in another country buys the rights to manufacture a company's product in its own country for a negotiated fee

beyond

Leadership goes ____ those functions by inspiring people to accomplish a great vision.

structuring

Management requires ____ the organization, staffing it with capable people, and monitoring results

demographics

Managers must consider workforce ____ in formulating their human resource strategies.

nonprogrammed

Managers typically face ______ decisions : new, novel, complex decisions having no certain outcomes.

diversity

Managing ___ means moving beyond legislated mandates to embrace a proactive business philosophy that values differences positively.

the United States, Canada, and Mexico

NAFTA combined the economies of _____ into one of the world's largest trading blocs.

Discount the future

Often decision makers _______________. That is , in their evaluation of alternatives, they weigh short-term costs and benefits more heavily than long-term costs and benefits.

Force-field analysis

One technique to managing the change process,_________, identifies the specific forces that keep people from changing plus the different forces that drive people toward change.

climate

Organizational ______ consists of the patterns of attitudes and behavior that shape people's experience of an organization.

decision

Participative leadership, or _____ style.

appraisal

Performance ____, the assessment of employees' job performance.

risks

Successful entrepreneurs take very careful , calculated __________

audit

Technology ________; Process of clarifying the key technologies on which an organization depends and identifies which technologies are most important

Trait approach

The ____ is the oldest leadership perspective; it focuses on individual leaders and attempts to determine the personal characteristics(traits) that great leaders share.

Americans with Disabilities Act

The _____ defines a disability as a physical or mental impairment that substantially limits one or more major life activities.

second

The _____ element of the HR planning process is to choose and implement specific human resources activities, such as recruitment, training, and performance appraisals.

adoption

The _____ of new technology over time follows an S-shaped pattern

mission and vision

The ______ drive the second component of the strategic management process: analyzing the external environment.

mission

The ________ is a clear and concise expression of the basic purpose of the organization. It describes what the organization does, for whom it does it, its basic good or service and its values.

challenge for organizations

The __________ is not just to produce innovative new products but to create a culture that is innovative and that builds a sustainable business.

richness

The amount of information a medium conveys is called media ________.

planning, organizing, leading, controlling

The four functions of management are: _____

commitment

The key element of effective teamwork is ________ to a common purpose.

reward

The leader who has ____ power influences others because she controls valued rewards; people comply with the leader's wishes in order to receive those rewards.

expert power

The leader who has _____ power has certain expertise or knowledge; people comply because they believe in, can learn from, or can otherwise gain from that expertise.

coercive

The leader with _____ power has control over punishments; people comply to avoid these punishments.

referent

The leader with _____ power has personal characteristics that appeal to others; people comply because of admiration, personal liking, a desire for approval, or a desire to be like the leader.

legitamate

The leader with _____ power has the right, or authority, to tell others what to do; employees are obligated to comply.

principal of exception

The managerial _______________states that control is enhanced by concentrating on the exceptions to-that is, significant deviations from the expected result or standard.

McClelland

The most important needs for managers, according to ____ , are the needs for achievement, affiliation, and power.

achievement

The need for _______ is characterized by a strong orientation toward accomplishment and an obsession with success and goal attainment.

affiliation

The need for ________ reflects a strong desire to interact with and be liked by other people.

Downsizing

The planned elimination of positions or jobs

efficient

To be ________ is to achieve goals with minimal waste of resources- that is, to make the best possible use of money, time, materials, and people.

effective

To be _________ is to achieve organizational goals.

dispassionate

Transactional leadership is ____ ; it does not excite, transform, empower, or inspire people to focus on the interests of the group or organization.

high-performance

Ways to build ___ teams include establishing a common purpose, setting measurable goals, and making sure everyone works hard and contributes in meaningful ways.

stereotype

When individuals' interests, values, and cultures act as filters to distort, block, or select what they see and interpret, they tend to _____ their different colleagues

declining

Young workers are ___ in numbers and the fastest-growing age group will be workers who are 55 and older

First

___ in the HR planning process , is to ensure that the right number and types of people are available, HR managers need to know the organization's business plans.

Continual improvement

___ is teaching people how to identify areas for improvement and rewarding them for making improvements.

Employment-at-will

___ is the legal concept that an employee may be terminated for any reason

mass customization

___ is the production of varied, individually customized products at the low cost of standardized, mass-produced products.

Expatriates

____ are parent-company nationals who are sent to work at a foreign subsidiary

Affirmative action

____ are special effort to recruit and hire qualified members of groups that have been discriminated against in the past.

Emotional intelligence

____ are the skills of understanding yourself, managing yourself, and dealing effectively with others.

outsourcing

____ contracting with an outside provider to produce one or more of an organization's goods or services

Maslow's

____ hierarchy of needs illustrates his conception of people satisfying their needs in a specified order, from bottom to top

the fourth phase

____ is Making the choice: important guiding concepts include maximizing, satisficing, and optimizing.

collaboration

____ is a style of dealing with conflict emphasizing both cooperation and assertiveness to maximize both parties' satisfaction.

Job analysis

____ is a tool for determining what is done on a given job and what should be done on that job. JOB Description and job specification

Immigration

____ is another important factor affecting the US population and labor force

Satisfying

____ is choosing the first option that is minimally acceptable or adequate

Standardization

____ is establishing common routines and procedures that apply uniformly to everyone

job description

____ is the job's specific and essential tasks, duties, and responsibilities.

Corporate social responsibility

____ is the obligation toward society assumed by business.

formalization

____ is the presence of rules and regulations governing how people in the organization interact

Task-motivated

____ leadership is leadership that places primary emphasis on completing a task.

Offshoring

____ moving work to other countries

extrinsic

____ rewards are given to people by the boss, the company, or some other person.

Reasons for failure

_____ : are misuse of funds and often fail to use formal control systems

Charismatic leaders

_____ are dominant and exceptionally self-confident, and have a strong conviction in the moral righteousness of their beliefs, and able to arouse a sense of excitement and adventure in followers.

Intrapreneurs

_____ are new venture creators working inside big companies; they are corporate entrepreneurs, using their company's resources to build a profitable line of business based on a fresh new idea.

programmed

_____ decisions have been encountered before. They have objectively correct answers and can be solved by using simple rules, policies, or numerical computations.

job specification

_____ describes the skills, knowledge, abilities, and other characteristics needed to preform the job

Strategic planning

_____ involves making decisions about the organization's long-term goals and strategies.

Total quality management

_____ is a comprehensive approach to improving product quality and thereby customer satisfaction.

business plan

_____ is a formal planning step that focuses on the entire venture and describes all the elements involved in starting it

Path-goal theory

_____ is a theory that concerns how leaders influence subordinates' perceptions of their work goals and the paths they follow toward attainment of those goals

Punishment

_____ is administering an aversive consequence

Sarbanes-Oxley Act

_____ is an act passed into law by Congress to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence

Innovation

_____ is the introduction of new goods or services; a change in method or technology; a positive, useful departure from previous ways of doing things.

Benchmarking

_____ is the process of comparing an organization's practices and technologies with those of other companies.

the third phase

_____ is to Evaluate alternatives: involves determining the value or adequacy of the alternatives that were generated.

the final phase

_____ is to Evaluate the decision : involves collecting information on how well the decision is working.

Transactional

_____ leaders view management as a series of transactions in which they use legitimate, reward, and coercive powers to give commands and exchange rewards for services rendered.

Relationship-motivated

_____ leadership is leadership that places primary emphasis on maintaining good interpersonal relationships.

Controlling

_____ monitors performance and implements necessary changes.

HR planning process

_____ occurs in three stages: planning, programming, and evaluating.

group think

_____ occurs when a tightly knit group is so cooperative that agreeing with one another's opinions and refraining from criticizing others ideas become norms

Third

_____, human resources activities are evaluated to determine whether they are producing the results needed to contribute to the organization's business plans.

SWOT Analysis

______ is a comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.

Maximizing

______ is achieving the best possible outcome.

noise

______ is anything that interferes with, distorts, or slows down the transmission of information

Strategic leadership

______ is behavior that gives purpose and meaning to organizations, envisioning and creating a positive future

Six sigma

______ is designed to reduce defects in all organizational processes-not just product defects but anything that may cause customer dissatisfaction.

Leading

______ is stimulating people to be high performers.

Bureaucratic control

______ is the use of rules, regulations, and formal authority to guide performance. It includes such items as budgets, statistical reports, and performance appraisals to regulate behavior and results.

the fifth phase

______ is to implement the decision: the chosen alternative must be implemented

Optimizing

______ means that you achieve the best possible balance among several goals.

Globalization

_______ also means that a company's talent can come from anywhere.

Contingency plans

_______ are "what if" plans. They include actions to be taken if initial plans do not work well or if events demand a sudden change.

Emerging Technologies

_______ are still under development and thus are unproved.

Organizing

_______ is assembling and coordinating the human, financial, physical , informational, and other resources to achieve goals.

Planning

_______ is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.

knowledge management

_______ is the set of practices aimed at discovering and harnessing an organization's intellectual resources-fully using the intellects of the organization's people

the second phase

_______ is to generate alternative solutions: links problem diagnosis to the development of alternative courses of action aimed at solving the problem.

Legal issue

_______ or a public relations tool.

Market control

_______ uses pricing mechanisms to regulate activities as though they were economic transactions.

Key technologies

________ have proved effective, and provide advantage because not everyone uses them. Provide a major competitive edge that prevents threats from new entrants.

Organizational development

________ is a systemwide application of behavioral science knowledge to develop, improve, and reinforce the strategies , structures, and processes that lead to organization effectiveness.

Environmental scanning

________ means both searching for useful information and interpreting what is important and what is not.

Base technologies

_________ are commonplace in the industry; everyone in the industry must have them. They provide little or no advantage.

threats

_________ could include the possibility that the competitor will enter the underserved niche if it is shown to be profitable.

Management audit

_________ is an evaluation of the effectiveness and efficiency of various systems within the organization, from social responsibility programs to accounting systems.

Management myopia

_________ is focusing on short-term earnings and profits at the expense of long-term strategic obligations.

first phase

_________ is to recognize that a problem exists and it must be solved. Diagnose the reason for the performance gap

Refreezing

_________ means strengthening the new behaviors that support the change. Involves implementing control systems that support the change.

Scanning

_________ uncovers what can be done and what is being developed. Places greater emphasis on identifying and monitoring the sources of new technologies for an industry

Risk

__________ exists when the probability of an action being successful is less than 100 percent and losses may occur.

opportunities and threats

___________ and __________ arise in the macroenvironment and competitive environment.

weaknesses

___________ might be lack of spare production capacity and the absence of reliable suppliers.

Clan control

________does not assume that the interest of the organization and individuals naturally diverge. Uses culture, shared values, beliefs, expectations, and trust.

Pacing technologies

_______have yet to prove their full value but have the potential to alter the rules of competition.

an advantage of managing a diverse workforce

ability to attract and retain motivated employees

Norming

group members agree on their shared goals, and norms and closer relationships develop

Forming

group members attempt to lay the ground rules for what types of behavior are acceptable

storming

hostilities and conflict arise, and people jockey for positions of power and status

perception

is the process of receiving and interpreting information

filtering

is the process of withholding, ignoring, or distorting information.

a challenge faced by organizations when managing a diverse workforce

lack of cohesiveness

culture

organizational ________ is the set of important assumptions about the organization and its goals and practices that members of the company share.

forming, storming, norming, performing

stages of team development

internal resources

strengths and weaknesses refer to ____________.

motivated

teamwork is _________ by tying rewards to team performance.

strategic vision

the __________ points to the future- it provides a perspective on where the organization is headed and what it can become.

performing

the group channels its energies into performing its tasks

needs assessment

training usually starts with a _________. An analysis identifying the jobs, people, and departments for which training is necessary.

performance appraisal asses three basic categories of employee performance

traits, behaviors, and results.

Matrix design - advantages

•Better linkage of employees to the company's goals and strategy •More information sharing •Communication is fostered •Greater responsiveness •Creative ideas from cross-functional work •Loyalty to the organization as a whole rather than to a function or division

SMART goals are:

•Specific •Measurable •Achievable •Results-based •Time-specific

Matrix Design Disadvantages

•Unclear responsibilities and competing priorities •Violation of the unity-of-command principle •Accountability difficult to define •Conflict and stress for employees who must manage a dual reporting role •Additional time required for meetings and other communications •Extensive collaboration needed but not always easy to reward