MANAGEMENT

6-4a FIVE INDUSTRY FORCES 1. threat of new entrants

- 5 things determine an industries overall attractiveness and potential for long term profitability. the stronger these forces the less attractive becomes to industry investors-> harder to be profitable. 1. is a measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry. if easy then competition increases and price and profits will fall. - Profit friendly for hospitals= threat of new entrance is low and revenue entrance is low. -lawn mowing profit unfriendly.

BCG MATRIX& a. separates business into 4 categories 1. stars 2. question marks 3. cash cows 4. dogs

- Is a portfolio strategy that managers use to categorize their corporations businesses by growth rate and relative market share, which helps then decide how to invest corporate funds. 1. are companies that have a large share of a fast growing market. high potential growth 2. are companies that have a small share of a fast growing market. bringing in money but don't put a lot of investment into it 3. are companies that have a large share of a slow-growing market. small levels of investment. 4. are companies that have a small share of a slow growing market. not a lot of potential.

6-4c ADAPTIVE STRATEGIES 1. defenders

- choose an industry strategy that is best suited to changes in the organizations external environment. 1.seek moderate, steady growth by offering a limited range of products and services to a well-defined set of customers. defend there position by doing their best and holding on to customers ex: newspaper v. new one

added from slides 5. exploitation

- have to be able to exploit the full potential of your resources. ex: E TOYS

3. bargaining power of buyers

- is a measure of the influence that customers have on the firms prices. - if company sells popular products to multiple buyers then co has more power v.v. - hospital: profit unfriendly. insurance companies have bargaining power -lawn mowing: profit unfriendly-> most people want the service but don't need it. can switch to a lower price.

1-4b INFORMATIONAL ROLES a. subroles b. monitor role c. disseminator role d. spokesperson

- obtaining and sharing information a. monitor, disseminator, and spokesperson b. managers scan their environment for information, actively contact others for information and because of their personal contacts, receive a great deal of unsolicited information. - also monitor by reading newspaper, competitors moves, customer and tech changes. c. managers share the information they have collected with their subordinates and others in the company. d. share information with people outside their companies and departments. ex; meetings with shareholders.

1-4c DECISIONAL ROLES a. 4 subroles b. entrepreneur role c. disturbance handler role d. resource allocator e. negotiator

- obtaining and sharing information to both inside and outside company helps make good decisions. a. entrepreneur, disturbance handler, resources allocator, and negotiator b. managers adapt themselves, their subordinates, and their units to change. c. managers respond to pressures and problems so severe that they demande immediate attention and action. ex: one free month for inconvenience. d. managers decide who will get what resources and how many resources they will get. e. managers negotiate schedules, projects, goals, outcomes, resources, and employee raises.

SWOT - a firm shouldn't judge - competitive advantage often lies in identifying - use information to evaluate companies

- opportunities just with financial measures - i. a fit between the firms strengths and upcoming opp.: internal strengths that matches with external weaknesses. ii. a weakness that must be dealt with to allow the firm to pursue an upcoming opportunity. -i. businese source complete; do as much research about companies.

6-4b POSITIONING STRATEGY 1. cost leadership 2. differentiation

- protects company from negative effects of industry wide competition and create SCA 1. means producing a product or service of acceptable quality at consistently lower production costs than competitors so that the firm can offer the product or service at the lowest price in the industry. ex: walmart 2. means making your product or service sufficiently different from competitors offerings that customers are willing to pay a premium price for the extra value or performance that it provides. MAINTAIN QLTY ex: nordstrom

11. How the managers job is changing a. importance of customers -managing customer relationships: b. innovation

- responsibility of all employees - essential for survival ex: we are a service economy and customers want it their way. burger king. b. doing things differently, exploring new territory, taking risks - requires culture and management support -ex: environment changes all the time so innovation can last for a long time or very little time.

continued - skills based diversity training - also used are DIVERSITY AUDITS - DIVERSITY PAIRING

- teaches employees the practical skills they need for managing a diverse work force, skills such as flexibility and adaptability, negotiation, problem solving and conflict resolution. - are formal assessments that measure employee and management attitudes, investigate the extent to which people are advantaged or disadvantaged with respect to hiring and promotions and review companies diversity related policies and procedure. - people of different cultural backgrounds, sexes, or races/ethnicities are paired for mentoring. a special kind of mentoring. - top managers experience what it is like to be a minority.

15. continued THE BIG FIVE MODEL AKA OCEAN TEST!!!** 1. extraversion i. contrast-> INTROVERTS 2. Emotional stability i. contrast-> Emotionally unstable

- why people are the way they are. 1. is the degree to which someone is active, assertive, gregarious, sociable, talkative, and energized by others. i. less active, prefer to be alone, and are shy, quiet, reserved. 2. or neuroticism; is the degree to which someone in not angry, depressed, anxious, emotional, insecure, or excitable. - they work well with stress and great problem solvers. calm/enthusiastic i. difficult to handle the most basic demands of their jobs under only moderately stressful sitchs, and become distraught doubting and anxious.

1-5 EXAM->

-> JOB SATISFACTION OF EMPLOYEES IS THE SECRET TO MANAGEMENT.

1-4a INTERPERSONAL ROLES a. fulfilling this involves 3 subroles: b. figurehead role c. leader role d. liaison role

-people intensive a. figurehead, leader and liaison b. managers perform ceremonial duties like greeting company visitors, speaking at the opening of a new facility, or representing the company at a community luncheon to support local charities. c. managers motivate and encourage workers to accomplish organizational objectives. ex: all expense paid vacay to cancun for achieving goals. d. managers deal with people outside their units.

BUSINESS AND SOCIETY CH 3 73-83

...

1-6 MISTAKES MANAGERS MAKE?? 1. insensitive to others 2. cold 3. betrays what? 4. overly 5. specific performance 6. overmanaging 7. unable to 8. unable to think 9. unable to adapt 10. overdependent on

1. abrasive, intimidating, bullying style 2. aloof, arrogant 3. trust 4 ambitious; thinking of next job, playing politics. 5. problems with the business 6. unable to delegate or build a team 7 staff effectively 8 strategically 9 to boss with different style 10. advocate or mentor

1. valuable resources a. increase efficiency b. increase effectiveness

1. allow companies to improve their efficiency and effectiveness. a. outputs/inputs: information systems reduces employees required or increases the number of calls each employee can answer. b. enable new capability; opening a new regional campus enables outreach to a new market of students.

continued.. a. the shift from surface level to deeper level diversity can accomplish 2 things

1. coming to know and understand each other better can result in reduced prejudice and conflict 2.stronger SOCIAL INTEGRATION: is the degree to which group members are psychologically attracted to working with each other to accomplish a common objective.

continued on learning and effectiveness paradigm a. four benefits 1. values 2. makes a distinction between

1. common ground - internalize the differences among employees so that it learns and grows because of them. 2. individual and group differences: treat them as individuals, and know that all want something different/ differences within groups.

10. WHAT DO MANAGERS DO? a. Luthans 4 categories 1. traditional management 2. communications 3. HR management 4. Networking

1. decision making, planning, organizing, controlling; 2. exchanging information, processing paperwork; ex: btw manager and employees 3. motivating, disciplining, managing conflict, staffing, training. ex: support functions. 4. socializing, politicking, interaction with others. ex: playing golf, lunch with someone,

7. attitudes 3 work related attitudes 1. job involvement 2. organizational commitment 3. perceived organizational support

1. how active/ involved you are in a job. AND how important job performance is yo your self worth: high then you want to become more, low you only want the money 2. how closely you identify with organizational goals. AND how important staying at the organization is to you. ex: know the company, do care what they do or just want job 3. how much you believe that the organization cares about you and values your work. ex:high-stay longer, more productive; low- don't care.

BUSINESS AND SOCIETY READING CH 3 64-73

...

2. threat of substitute products or services

2. is a measure of the ease with which customers can find substitutes for an industries products or services. - easy then competition increases and profit and prices fall if its easy to find substitute items. - hospital= profit friendly, can't do a lot of things at home that you could in hospitals. -lawn mowing profit unfriendly you can do it yourself.

cont. 3. less likely to encounter 4. focuses on bringing

3. the conflict, backlash, and divisiveness sometimes associated with diversity programs that focus only on group differences. 4. different talents, and perspectives together to make the best organizational decisions and to produce innovative, competitive products and services.

12. myers brig! a. test question b. the big 5 model is..

ON SLIDES a. is descriptive. b. prescriptive

1-5 WHAT COMPANIES LOOK FOR IN MANAGERS a. management skills b. technical skills - which manager(s) best for this skill?

a. conceptual, human, technical skills. b. are the specialized procedures, techniques, and knowledge required to get the job done. - team leaders and lower level managers because they manage the workers who produce products or serve customers. Need to be able to train new employees too. -ex: waitress, know how restaurant works, how to deal with customers, know how things work,learning the language of the environment,

CH 10: MANAGING TEAMS 1. a. work teams

a. consist of a small number of people with complementary skills who hold themselves mutually accountable for pursuing a common purpose, achieving performance goals, and improving interdependent work processes.

5. 12-2 SURFACE LEVEL DIVERSITY a. surface level diversity b. deep level diversity

a. consists of differences that are immediately observable, typically unchangeable, and easy to measure. - persons age, sex, race, or physical capabilities. b. consists of differences that are communicated through verbal and nonverbal behaviors and are learned only through extended interaction with others. -ex: personality differences, attitudes, beliefs, and values. deeper more complex knowledge of workers.

4. 1-2a PLANNING a. planning b, encourages people to c. most important though

a. involves determining organizational goals and a means for achieving them. b. work harder, to work hard for extended periods, to engage in behaviors directly related to goal accomplishment, and to think of better ways to do their jobs. c. companies who plan have LARGER profits and FASTER growth than companies who don't plan.

continued DONT USE TEAMS WHEN... a. everything opposite of above

above

2. EFFECTIVE MANAGEMENT 1. High productivity -------------------- 2. high job satisfaction 3. low absenteeism 4. low turnover 5. organizational citizenship behaviors

1. if just focus on this you won't get efficiency and effectiveness. the people who work for you need to have personal satisfaction. 2. employees need be satisfied. 3. people need to show up and they need to know the expectations. Setting expectations on attendance and work is a little harder today with telecommunications. 4. people have to stay. Someone walks out the door and you have to replace them. You won't be as productive if you have turnover. it takes you a long time to get really good at the job. Therefore the productivity isn't that high at first. Long process to replace that person and reteach them all the skills. 5. peoples willingness to go above and beyond their job description.

9. MANAGERIAL ROLE 1-4 (test don't need to know the differences between subroles, just be able to identify someone who has a interpersonal, informational, or decisional role) - roles

1. interpersonal roles 2. informational roles 3. decisional roles

CH 12; Managing individuals and a diverse work force 1. Diversity:

1. is a variety of demographic cultural, and personal differences among people-including employees, customers, suppliers etc.

8. 12-4c DIVERSITY TRAINING AND PRACTICES 2 types of diversity training programs. 1. AWARENESS TRAINING - ITA test

1. is designed to raise employees awareness of diversity issues, and to get employees to challenge underlying assumptions or stereotypes they may have about others. - implicit association test: measure peoples negative and positive thoughts with race, gender, ethnicity etc.

3. 1-2 THE FOUR FUNCTIONS OF MANAGEMENT**** a. In order to be successful managers need to perform 4 managerial functions

1. planning 2. organizing 3 leading 4. controlling

1-8 COMPETITIVE ADVANTAGE THROUGH PEOPLE (EXAM, recognize practices that led success to companies) 1. employment security 2. selective hiring 3. self managed teams and decentralization 4. high wages contingent on organizational performance 5. training and skill development 6 reduction of status differences 7. sharing info.

1. ultimate form of commitment to employees, they can increase productivity without fear of loss job 2. aggressively recruit and selectively screen applicants to make sure to get best ones if they have security 3. look at book 4. high wages needed to attract and retain talented workers, shareholders 5. competitive advantage is based on its people must invest in the training and skill development of its people. 6. treat everyone as equal. improved communications 7. if employees are to make decisions about the long term health of the companies then this is essential.

cont 2. stability strategy 3. retrenchment strategy

2. is to continue doing what the company has been doing, just doing it better. - usually after periods of explosive growth or external environment doesnt change much 3. to turn around very poor company performance by shrinking the size or scope of the business or if a company is in multiple businesses by closing or shutting down different lines of the business. - first they make major cuts; lay offs, close divisions, entire lines of products etc. - after reducing the second step is RECOVERY: consists of the strategic actions that a company takes to return to a growth strategy. - supposed to be short term. turn around -> recovery to growth.

2. Rare resources

2. resources that are not controlled or possessed by many competing firms, are necessary to sustain a competitive advantage. - resources/capabilities shared by lots of firms in an industry cannot create SCA ex: Apple v. Android. Applications that go through processes

2. prospectors 3. analyzers 4. reactors

2. seek fast growth by searching for newmarket opportunities, encouraging risk taking, and being the first to bring innovative new products to market. fast, flexible, look at crumbs 3.are a blend of the defender and prospector strategies. always a step behind.imitators 4. do not follow a consistent strategy. - anticipating and preparing for external opportunities and threats, reactors tend to react to changes in their external environment after they occur, - we will copy the strategy of our competitor.

3. focus

3. a company uses either cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segments. - niche, try to focus on something no one else does ex: resale shops.

3. Imperfectly imitable resources - ways imitation can be avoided:

3. are those resources that are impossible or extremely costly or difficult to duplicate. -a. unique historical conditions=enron b. causal ambiguity=apple * others cannot duplicate SCA because they do not understand why it is successful. ex: steve jobs around c. social complexity= SW airlines - trust, teamwork, informal relationships. HR great-private-its hard to copy.

continued 3. Agreeableness i. contrast-> disagreeable 4. Conscientiousness

3. is the degree to which someone is cooperative, polite, flexible, forgiving, good natured, tolerant and trusting. i. hard to work with and distrusting. 4. is the degree to which someone is organized, hardworking, responsible, persevering, thorough, and achievement oriented. - engage in positive behaviors like helping new employees, coworkers, supervisors and less likely to engage in negative behaviors. MORE PEOPLE LIKE THIS,

4. bargaining power of suppliers

4. is a measure of the influence that suppliers of parts, materials, and services to firms in an industry have on the prices of these inputs. - a lot of suppliers that hold a product you want then you have BP. parts you buy are more specialized then supplier has BP, but if your business can buy parts from anywhere then you have BP to get it at the lowest price. - hospital: profit unfriendly, you have to have the latest technology. no one wants old stuff. -lawn mowing: profit friendly. supplies are generic.

4. Nonsubstitutable resources a. the question of substitutability a no equivalent resources

4. meaning that no other resources can replace them and produce similar value or competitive advantage. a. exist that can be used to implement the same strategies ex: a superiro marketing straregy for a recognized brand name or a superirio techincal support group for an intelligent diagnostic dosftware paige, ex: google music v. appl itunes

5. character of rivalry

5. is a measure of the intensity of competitive behavior among companies in an industry. -industry attractiveness and profitability decrease when its cutthroat. - hospital: profit friendly. no intense rivalries in ausitn -lawnmowing:

continued 5. Openness to Experience

5. is the degree to which someone is curious, broadminded, and open to new ideas, things, and experiences, spontaneous, high tolerance for ambiguity(vagueness).

contd 6. solicit negative 7. set high 8. treat every employee

6. as well as positive feedback: use series of measurements to see if progress is being made. 7. but realistic goals: positive work environment where no one is advantaged or disadvantaged. 8. as an irreplaceable asset

8. cognitive dissonance: a. dissonance created by: b. dissonance is uncomfortable-> c. works only with strongly held

8. assumes attitudes drive behaviors a.dissonance is created when the is an inconsistency: inconsistency between attitudes,AND between attitudes and behaviors. b. people will try to reduce it. c. attitudes- weak attitudes don't drive behavior.

6-4 INDUSTRY LEVEL STRATEGIES

HOW SHOULD WE COMPETE IN THIS INDUSTRY - Corporate level is about growth - industry level is about individual

EXTERNAL ANALYSIS STEEP

Social: social trends matter, people spend a lot of time connected to the internet. reach customers this way. technological: PC-laptops. created pop for some while threats for others. economic: something cyclical, countercyclical, non cyclical business ecological: sustainability. political: govnt tells us what to do.

6-3 CORPORATE LEVEL STRATEGY a. corporate level strategy

WHAT BUSINESS ARE WE IN OR SHOULD WE BE IN? a. is the overall organizational strategy that addresses the question above...

6-2a STRATEGY MAKING PROCESS a. steps

a. 1- assess need for strategic change(Where we want to be rather than where we are) 2- conduct switch analysis 3-choose strategic alternatives

6-1 SUSTAINABLE COMPETITIVE ADVANTAGE a. resources must be:

a. 1. valuable: makes either the company more efficient or effective 2. rare 3. imperfectly imitable 4. nonsubsitutable 5. exploitable

8. 1-3 KINDS OF MANAGERS ( know these for exam, scenario for naming which manager is it) 1-3a. TOP MANAGERS a. positions b. their responsibilities

a. CEO, COO, CIO, CFO, VP, corporate heads. (chief blank officer) b. 1.) they are responsible for creating a context for change: move fast enough to bring significant change. Has to think about future.vision 2.) develop employees commitment to and ownership of companies performance/ employee buy-in. 3.) create a positive organizational culture through language and action. 4.) monitoring their business environment: customer needs, competitor moves and long term business, economics, and social trends. - change, commitment, culture, and environment. PLAN PLAN PLAN!

6-2b SITUATIONAL ANALYSIS&& a. situational analysis INTERNAL ANALYSIS - distinctive competence -core capabilities: EXTERNAL ANALYSIS - strategic group

a. SWOT analysis, for strengths, weaknesses, opportunities and threats. OT-> external and SW-> internal(remote and industry environment) - is something that a company can make do, or perform, better than its competitors. (assessing internal)(tangible) - are the less visible, internal decision-making routines, problem solving processes, and organizational cultures that determine how efficiently inputs can be turned into outputs. (internal)(intangible) - is a group of other companies within an industry against which top managers compare, evaluate, and benchmark their companies strategic threats and opportunities(external)

6-3a PORTFOLIO STRATEGY& a. def b. companies can grow through:

a. a corporate level strategy that minimizes risk by diversifying investment among various businesses or product lines. b. acquisitions: other companies to buy. -and unrelated diversification (president powers buys race horse for UT, unrelated) creating or acquiring companies in completely unrelated businesses. ex:3M

7. SPECIAL KINDS OF TEAMS (EXAM-> JUST CROSS FUNCTIONAL) a. cross functional teams - why we care about them? b. virtual teams c. project teams

a. are intentionally composed of employees from different functional areas of the organization. (help share info through organization) - members have different functional backgrounds, education, and experience, cross functional teams usually attack problems from multiple perspectives and generate more ideas and solutions which are important when trying to innovate or solve problems creatively. - require managers to coordinate. c. are created to complete specific, one time projects or tasks within a limited period of time.

1-3d TEAM LEADERS a. team leaders b. responsibilities

a. are primarily responsible for facilitating team activities toward accomplishing goals. b. 1.) not responsible for team performance. 2.) help team members plan and schedule work, learn to solve problems, and work effectively with each other. 3.) foster good relationships between team members. 4.) managing external relationships: act as the bridge between teams to solve problems. 5.) GUIDANCE

CH 6; ORGANIZATIONAL STRATEGY 6-1 sustainable competitive advantage a. resources b. competitive advantage c. sustainable competitive advantage

a. assets, capabilities, process, employee time, information, controlled by an organization - to improve organizational effectiveness and efficiency. b. organization using its resources by providing greater value for customers than competitors can c. when other companies cannot duplicate the value a firm is providing to customers.

4. WHEN TO USE TEAMS use teams when... a. there is a b. the job can't be done unless c. rewards can be provided for d. ample

a. clear, engaging reason or purpose. ex: some companies use them because they are popular but there has to be a purpose. b. people work together: interdependent on one another, each has a task to a common goal and sharing that information. c. teamwork and team performance: rewards for team performance not individual performance. d. resources are available; giver the team what it needs to be successful

4. 12-1b diversity makes good business sense a. diversity makes good business sense: b. cost savings c. driving growth

a. cost savings, attracting and retaining talent and driving business growth. b. by reducing turnover, decreasing absenteeism and avoiding expensive lawsuits. ex: diversity programs that address the needs of female workers can reduce substantial cost of absenteeism. c. diversity helps with this by improving the understanding of the marketplace.

6-2a ASSESSING THE NEED FOR STRATEGIC CHANGE A. means. b. reinforce c. difficult due to d. top managers often slow to e. COMPETITIVE INERTIA: f. be aware of g. strategic dissonance

a. determine whether it needs to change its strategy to sustain competitive advantage. b. company goals and mission c. uncertainty in business d. recognize need for strategic change-> e. a reluctance to change strategies or competitive practices that have been successful in the past. f. strategic dissonance g. is a discrepancy between a companies intended strategy and the strategic action managers take when actually implementing that strategy.

continued a. learning and effectiveness paradigm - consistent with achieving ORGANIZATIONAL PLURALITY

a. focuses on integrating deep-level diversity differences such as personality, attitudes, beliefs, and values, into the actual work of the organization. - Is a work environment where 1. all members are empowered to contribute in a way that maximizes the benefits to the organization, customers and themselves and 2. the individuality of each member is respected by not segmenting or polarizing people on the basis of their membership in a particular group.

continued a. access and legitimacy paradigm b, similar to what? c. benefit-> establishes d. limitation

a. focuses on the acceptance and celebration of differences to ensure that the diversity within the company matches the diversity found among primary stakeholders such as customers, suppliers and local communities. b. business growth; diverse workforce that attracts a broader customer base. c. clear business reason for diversity. d. focuses on surface level; may feel exploited for being assigned to work with people of same outside of co.

CH 1; Management 1-1 Management is... a. definition b. efficiency c. effectiveness

a. getting work done through others. b. getting work done with a minimum of effort, waste, or expense. -ex: UPS, fewer left turns, keys, walking 2.5 seconds per pace. Faster ways to deliver packages. c. accomplishing tasks that help fulfill organizational objectives. ex: customer service and satisfaction. -ex: JFK airport as set times for airplanes to leave their terminals and take off. saves fuel and more comfortable for passengers. - efficiency alone is not enough to ensure success, effectiveness should also be strived for too.

6-3b GRAND STRATEGIES a. broad strategic plans used to - grand strategues 1. growth strategy

a. help an organization achieve its strategic goals. -> helps guide small businesses or subunits in what business they should be in. 1. is to increase profits, revenues, market share, or the number of places (stores, offices, locations) in which the company does business. - internally by acquisition or expanding business.

1-3c FIRST LINE MANAGERS a. first line managers b. responsibility

a. hold positions like office manager, shift supervisor, or department manager. b.1.) manage the performance of entry-level employees who are directly responsible for producing companies goods and services. - DONT SUPERVISE OTHER MANAGERS 2.) monitoring, teaching, and short term planning. rewarding. 3.) make detailed schedules and operating plans based on middle managements intermediate range plans.

1-3b MIDDLE MANAGERS a. middle managers b. responsibilities

a. hold positions like plant manager, regional manager, or divisional manager. b. 1.) setting OBJECTIVES consistent with top managements goals 2.) planning and implementing strategies to meet those objectives. 3.)plan and allocate RESOURCES to meet objectives. 4.) coordinate and link groups, departments, and divisions within a company. 5.) monitor and manage performance of the subunits and individual managers who report to them. 6.) implementing the changes or strategies generated by top management.->they are closer to the people who best solve those problems.

6. 1-2c LEADING a. leading

a. involves inspiring and motivating workers to work hard to achieve organizational goals. -ex: Fords come back

5. 1-2b ORGANIZING a. organizing

a. is deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom in the company. ex: combination of united airlines and continental. What organizing factors to keep from each to reduce annual expenses. boarding, computer systems, routing plans etc.

7. 1-2d CONTROLLING a. controlling b. basic control process involves

a. is monitoring progress toward goal achievement and taking corrective action when progress isn't being made. b. setting standards to achieve goals, comparing actual performance to those standards, and then making changes to return performance to those standards. - ex: walmart, identify problem and then solve it.

14. 12-3 DEEP LEVEL DIVERSITY a. disposition b. personality

a. is the tendency to respond to situations and events in a predetermined manner. b. is the relatively stable set of behaviors, attitudes, and emotions displayed over time that makes people different from each other.

10.SURFACE LEVEL DIVERSITY 12-2a AGE a. age discrimination b. reasons c. cost more or less? d. how to reduce age discrimination/

a. is treating people differently because of their age. b. can't adapt to change, learn new technology, get sick more. etc. c. both, the cost more with being their longer, pension plans, and vacay time. less beaus they make better judgments, show up on time, care more of qlty of work, less likely to quit or be absent. d. 1. AD is much more pervasive then they think. -> baby boomers. 2. monitor the extent to which older workers need training. 3. younger and older workers interact

7. 12-4b DIVERSITY PRINCIPLES(one Q ON EXAM) a. hows principles help? principles. 1. carefully and faithfully 2. treat group differences as 3. find some 4. tailor 5. maintain

a. managing company diversity programs. 1. follow and enforce federal and state laws regarding equal opportunity employment. 2. important but not special. 3. common ground: share commonalities 4. opportunities to individuals, not groups: based on individual SW not group. 5. high standards: hiring and promotion standards are fair to all.

2. 10-1a The advantages of teams: Teams improve: a. customer satisfaction b. product and service c. product development speed and efficiency d. employee job satisfaction e. employee involvement in decision making

a. meet needs for specific customers. ex: hiring people for holiday season. b. quality: take responsibility for the quality; ex: reviews-> fix it with other departments. c. intradepartmental teams work together. d. cross training: team members are taught how to do all or most of the job performed from other team members.-> function normally even when someone quits and increases their skills. e. diverse perspectives because each possesses different knowledge..

u shaped relationship between diversification and risk a. unrelated diversification b. related diversification

a. most risk. b. which the different business units share similar products, manufacturing, marketing, technology, or cultures. best approach. complement core capabilities that are already in corporate portfolio.ex mcdonalds and chipotle

13. 12-2d MENTAL OR PHYSICAL DISABILITES a. disability discrimination b. disability c. sensory disabilities d. what creates this disparity e. reduce?

a. occurs when people are treated differently because of their disabilities. b. is a mental or physical impairment that substantially limits one or more major life activities. c. higher employment rates. d. nothing, if the company accommodates for disabilities, they do just as great of a job. e. 1. accomodate. doesnt need to be expensive. assistive technology. 2. recruit qualified workers with disabilities.

12. 12-2c RACE/ETHNICITY a. racial and ethnic discrimination b. disparities are due to c. what can help reduce?

a. occurs when people are treated differently because of their race or ethnicity. b. preexisting differences in trainign, education and skills. c. 1. compare hiring rates. 2. if numbers show racial/ethnic disparities employ private firm to test hiring system. 3. eliminate unclear selection and promotion criteria: specific criteria eligible to get the job done. 4. train managers and others who make hiring and promotion decisions.

11.12-2b sex discrimination a. sex discrimnation b. associated with GLASS CEILING c. women choose careers why? d. what can help to reduce?

a. occurs when people are treated differently because of their sex. b. the invisible barrier that prevents women and minorities from advancing to the top jobs in organizations. c. give them greater sense of accomplishment, more control of their work schedule, easier movement in and out. d. 1. mentoring, female executive with senior executives from whom they can seek advice/support from. 2. make sure male dominated social activites don't unintentionally exclude women. 3. go to person other than supervisor that women can go to if they think they are being discriminated.

contd a. diversification

a. one of the standard strategies for stock market investors is this, which is owning stocks in a variety of companies in different industries.

11. attribution theory; ON EXAM erros/biases a. fundamental attribution error b. self serving bias

a. overestimate the influence of internal factors and -typically applied to our judgement of others: its their fault when we judge, when we judge we cut ourselves out. b. attribue successes to internal factor, - blame failures on external factors, -typically applied to self judgment: too hard on others, too easy on self.

9. locus of control and locus of responsibility a. locus of control b. responsibility

a. personality aspect that is highly tied to success - external: believe nothing is their fault -internal: believe they are in control of their destinies. b. low: helplessness, you know someone who will fix it. high: outcome oriented, understand I can make changes in myself to do better. - you want to be high control(internal) and high responsibility.

SLIDES a. strategy b. business model

a. plan for achieving goals. - how firm will compete -how firm will attract/satisfy its customers * decisions/ actions that determine organizations performance b. design for how a company plans to profit from its strategies. ex:UTSA V. UT

6-2c step 3: choosing strategic alternatives a. risk avoiding b. risk seeking - strategic refrerence points

a. protects an existing competitive advantage. b. extend or create a sustainable competitive advantage. - interpreting environmental information, looking through he glasses. - are the targets that managers use to measure whether their firm has developed the core competencies that it needs to achieve a sustainable competitive advantage. *if above reference points and have competitive advantage, any change to external environment is seen as a threat. if below then external changes are seen as opportunities to do better/more.

3. 12-1a diversity is not affirmative action a. affirmative action - differences

a. refers to purposeful steps taken by an organization to create employment opportunities for minorities and women. - its a policy for actively creating diversity, but diversity can exist even if org don't take purposeful steps to create it. - AA is required by law for private employers with 50 or more employees, whereas diversity is not. - AA programs and diversity programs have different purposes: AA is to compensate for past discrimination.

6. TEAM AUTONOMY CONTINUUM a. which teams have more autonomy? b. self managing teams c.self designing teams

a. self designing teams b. are different from semiautonomous work groups in that team members manage and control all of the major tasks directly related to production of a product or service without first getting approval from management. c. have all characteristics of self-managing teams but, they can also control and change the design of the teams themselves, the tasks they do, and how and when they do them and the membership of the teams.

LUTHANS allocation of activities by time a. average managers b. successful managers c. effective managers

a. split everything equally from above categories. b. more time networking, and communicating secondly. faster promotion c. more communicating= work quality/qnty and employee satisfaction. effective managers while communicating with people in your department you look at those people who want your job-> then you hand them some communication activities to some who be possible manager one day-> so you can spend more time networking-> successful manager!

10. how we perceive people a. attribution theory: - internally -externally

a. tendency to judge observed behavior - caused behavior=under your control -due to outside factors, not your fault * we tend to make judgments even without no data.

6. ATTITUDES a. cognitive components b. affective component c. behavioral component

a. the beliefs, opinions, knowledge or information held by a person. b. the emotional/feeling part of attitude c. the intention to behave in a certain way. ex: if its sleeting i won't hold class from now on

5. AUTONOMY a. definition: - closely related to - key

a. the degree to which workers have the discretion, freedom, and independence to decide how and when to accomplish their job. - closely aligned with motivation - key thing that helps it that it builds job satisfaction.

9. personality a. personaliy b. personality determinants

a. the unique combination of psychological characteristics (measurable traits) that affect how a person reacts and interacts with others. b. heredity: can see personality traits like through my family - environment: what you have lived in - situation: only child or youngest?

2. diversity makes good **business sense a. decreases in b. helps companies c. helps companies d. drives e. produces

a. turnover and absenteeism b. avoid expensive lawsuits c. attract and retain talented workers and diverse customers d. business growth e. higher quality problem solving.

6. MANAGING DIVERSITY 12-4a DIVERSITY PARADIGMS a. the discrimination and fairness paradigm b. benefit c. limitation

a. which is the most common method of approaching diversity, focuses on equal opportunity, fair treatment, recruitment of minorities, and strict compliance with the equal employment opportunity laws. - success is measured by how well companies achieve recruitment etc. b. brings fairer treatment and increases demographic diversity c. remains focused on surface level diversity.

3. DISADVANTAGES OF TEAMS (EXAM SOCIAL LOAFING AND GROUPTHINK{1 Q ON TAHT}) a. initially high turnover b. social loafing-> c. groupthink-> d. dominant cliques.

b. occurs when workers withhold their efforts and fail to perform their share of the work. - as a team increases in size, it adds less productivity. Thats why teachers want students to do peer reviews. They go into the background and do little to no work. c. members of highly cohesive groups feel intense pressure not to disagree with each other so that the group can approve a proposed solution.

contd c. importance of sustainability

c. achieve business goals, max long term shareholder value AND -achieve eco, environmental and social goals.

1-5 continued c. human skills -which level(s) of management? - what they do?

c. can be summarized as the ability to work well with others. - all levels;mostly top management though since they spend most of their time with people while lower is more technical - encourage other to express their feeling and thoughts, are sensitive to others needs and viewpoints, and are good listeners and communicators. -ex: being able to work well with others.

1-5 cont. d. conceptual skills - which level(s) of management?

d. are the ability to see the organization as a whole, to understand how the different parts of the company affect each other, and to recognize how the company fits into or it affected by its external environment such as local community, social and eco forces, customers, and the competition. - increases as it moves up the management hierarchy - ex: taking your skills and applying it to another. multi tasking.

a. either want

neuroticism to be low and emotional stability to be high or v.v. no one wants to be around someone who's hard to predict.

in order

traditional work: 2 or more people work together to achieve a shared goal. employee involvement: meet on co. time on a weekly or monthly basis to provide advice or make suggestions to management concerning specific issues semi autonomous work: not only provide advice and suggestions to management but also have the authority to make decisions an solve problems related to the major task required to produce P/S. self managing self designing

contd EXTERNAL ANALYSIS(look) environmental scanning. - core firms -secondary firms - risk tolerance drives

when scanning the environment for threats and opportunities they categorize companies in core, secondary and transient firms. - are the central companies in a strategic group. - are firms that use strategies related to but somewhat different from those of core firms. - perspective/interpretation of environment: looking through the glasses.