Principals of management final vt

SMART goals

A goal that is Specific, Measurable, Attainable, Results oriented, and has Target dates

glass ceiling

A metaphor alluding to the invisible barriers that prevent minorities and women from being promoted to top corporate positions.

masculinity

A national culture attribute that describes the extent to which the culture favors traditional masculine work roles of achievement, power, and control. Societal values are characterized by assertiveness and materialism.

change agent

A person inside or outside the organization who can be a catalyst in helping deal with old problems in new ways

decentralized authority

An organization structure in which decision-making authority is delegated to lower-level managers more familiar with local conditions than headquarters management could be.

Selection

Choosing from among qualified applicants to hire into an organization

programmed conflict

Conflict designed to elicit different opinions without inciting people's personal feelings

power distance

Degree to which societies accept the idea that inequalities in the power and well-being of their citizens are due to differences in individuals' physical and intellectual capabilities and heritage

adverse impact

Effect an organization has when it uses an employment practice or procedure that results in unfavorable outcomes to a protected class over another group of people

Goal Setting Theory

Employee-motivation approach that employees can be motivated by goals that are specific and challenging but achievable

Paraphrasing

Form of communication that occurs when people restate in their words the crux of what they heard or read

EEOC (Equal Employment Opportunity Commission)

INDEPENDENT agency created in 1964-works to eliminate employment discrimination based on race, color, religion, gender, disability, age or other criteria unrelated to job performance.

Equity Theory

In the area of employee motivation, the focus on how employees perceive how fairly they think they are being treated compared with others

core self-evaluation

Represents a broad personality trait comprising four positive individual traits: (1) self-efficacy, (2) self-esteem, (3) locus of control, and (4) emotional stability

Diversification

Strategy by which a company operates several businesses in order to spread the risk

categorical thinking bias

Tendency of decision makers to classify people or information based on observed or inferred characteristics

Reinforcement Theory

The belief that behavior reinforced by positive consequences tends to be repeated, whereas behavior reinforced by negative consequences tends not to be repeated

Job Characteristics Model

The job design model that consists of five core job characteristics that affect three critical psychological states of an employee that in turn affect work outcomes—the employee's motivation, performance, and satisfaction

VRIO Framework

The resource-based framework that focuses on the value (V), rarity (R), imitability (I), and organizational (O) aspects of resources and capabilities.

Expectancy Theory

Theory that suggests that people are motivated by two things: (1) how much they want something and (2) how likely they think they are to get it

sunk-cost bias (fallacy)

Way of thinking in which managers add up all the money already spent on a project and conclude it is too costly to simply abandon it

escalation of commitment bias

When decision makers increase their commitment to a project despite negative information about it

management by exception

a control principle that states that managers should be informed of a situation only if data show a significant deviation from standards

Management by Objectives (MBO)

a four-step process in which (1) managers and employees jointly set objectives for the employee, (2) managers develop action plans, (3) managers and employees periodically review the employee's performance, and (4) the manager makes a performance appraisal and rewards the employee according to results

vision

a long-term goal describing "what" an organization wants to become. It is a clear sense of the future and the actions needed to get there

Abilene Paradox

a paradox in which a group of people collectively decide on a course of action that is counter to the preferences of any of the individuals in the group

devil's advocate

a person who has the job of criticizing ideas to ensure that their downsides are fully explored

theory y

a positive view of human nature and assumes individuals are generally good, creative and able to assume responsibility and excursive self control in there job

Bench-marking

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

Mission Statement

a statement of the organization's purpose - what it wants to accomplish in the larger environment

Heuristic

a strategies that simplify the process of making decisions.

confirmation bias

a tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence

trading bloc

aka economic community, a group of nations within a geographical region that have agreed to remove trade barriers with one another

SWOT analysis

aka. Situational analysis. a search for the Strengths, Weaknesses, Opportunities, and Threats affecting the organization

organizational culture

aka. corporate culture. system of shared beliefs and values that develops within an organization and guides the behavior of its members

whistle-blower

an employee who reports organizational misconduct to the public

Bona Fide Occupational Qualification (BFOQ)

an exception in employment law that permits sex, age, religion, and the like to be used when making employment decisions, but only if they are "reasonably necessary to the normal operation of that particular business." BFOQs are strictly monitored by the Equal Employment Opportunity Commission

centralized authority

an organization structure in which decision-making authority is maintained at the top level of management

process loss

any aspect of group interaction that inhibits good problem solving

theory x

assumes people dislike work, have little attention, and are unwilling to take responsibility; ridged carrot and stick approach

implicit bias

attitudes or beliefs that affect our understanding, actions, and decisions in an unconscious manner

law of effect

behavior that is followed by consequences satisfying to the organization will be repeated and behaviors that are followed by unpleasant consequences will be discouraged

functional conflict

conflict that benefits the main purposes of the organization and serves its interests

hawthorne effect

employees work harder if they receive added attention, if they think managers care about there welfare and if superiors pay special attention to them.

espoused values

explicitly stated values and norms preferred by an organization

media richness

indicates how well a particular medium conveys information and promotes learning

personal conflict

interpersonal opposition based on personal dislike, disagreement, or differing styles

Scientific Management

management approach that emphasizes the scientific study of work methods to improve the productivity of individual workers

cascading goals

objectives are structured in a unified hierarchy, becoming more specific at lower levels of the organization

referent power

power deriving from one's personal attraction

personalized power

power directed at helping oneself

socialized power

power directed at helping others

expert power

power that is based on the special knowledge, skills, and expertise that a leader possesses

enacted values

represent the values and norms actually exhibited in the organization

Desparate Treatment

results when employees from protected groups are intentionally treated differently.

right-to-work laws

statutes that prohibit employees from being required to join a union as a condition of employment

Jargon

terminology specific to a particular profession or group

emotional intelligence

the ability to cope, to empathize with others, and to be self-motivated

explicit bias

the attitudes or beliefs that affect our understanding, actions, and decisions in a conscious manner

self-serving bias

the attributional tendency to make more personal responsibility for success than failure

overconfidence bias

the bias in which people's subjective confidence in their decision making is greater than their objective accuracy

contigency planning / scenario planning / scenario analysis

the creation of alternative hypotheticals but equally likely future conditions

Individualism/Collectivism

the degree to which a person believes that people should be self-sufficient and that loyalty to one's self is more important than loyalty to team or company

uncertainty avoidance

the degree to which societies are willing to tolerate uncertainty and risk

Accountability

the expectation that managers must report and justify work results to the managers above them.

Groupthink

the mode of thinking that occurs when the desire for harmony in a decision-making group overrides a realistic appraisal of alternatives

free trade

the movement of goods and services among nations without political or economic barriers

responsibility

the obligation one has to preform the assigned tasks.

extrinsic rewards

the payoff, such as money, a person receives from others for performing a particular task

self-fulfilling prophecy

the phenomenon in which people's expectations of themselves or others lead them to behave in ways that make those expectations come true

legitimate power

the power a person receives as a result of his or her position in the formal hierarchy of an organization

Synergy

the power that results from the combination of two or more organizations

Recruiting

the process of locating and attracting qualified applicants for jobs open in the organization

authority

the right to preform or command; also the rights inherent in a managerial position to make decisions, give orders, and utilize resources

Intrinsic Rewards

the satisfactions, such as the feeling of accomplishment, that a person receives in the process of performing a particular action

rational decision making model

the style of decision making that explains how managers should make decisions; it assumes that managers will make logical decisions that are the optimal means of furthering the organizations best interests.

Corporate Governance

the system of governing a company so that the interests of corporate owners and other stakeholders are protected

framing bias

the tendency of decision makers to be influenced by the way a situation or problem is presented to them

hindsight bias

the tendency of people to view events as being more predictable than they really are

Stereotyping

the tendency to attribute to an individual the characteristics one believes are typical of the group to which that individual belongs

representative bias

the tendency to generalize from a small sample or a single event

Horn affect

the tendency to let our perceptions of one negative trait influence our perceptions of other negative traits

halo affect

the tendency to let our perceptions of one positive trait influence our perceptions of other positive traits

anchoring and adjustment bias

the tendency to make decisions based on an initial figure

Communication

the transfer of information and understanding from one person to another

Globalization

the trend of the world economy towards becoming a more interdepend system

trade protectionism

the use of government regulations to limit the import of goods and services

differentiation strategy

to offer products or services that are of unique and superior value compared with those of competitors but to target a wide market

Outsourcing

using suppliers outside the company to provide goods and services.

Availablity bias

we tend to rely on the most recent information we have or only consider the immediate examples that come to mind on a topic, which may not represent all the information very accurately