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