PRINCIPLES OF MGMT FINAL

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Franchising

A firm pays a fee for rights to use another company's name and operating methods

Cultural intelligence

Ability to adapt to new cultures and work well in situations of cultural diversity

Importing

Acquiring products abroad and selling them in domestic markets

Noise

Anything that interferes with the communication process

Multicultural organization

Based on pluralism and operates with inclusivity and respect for diversity

Managing diversity

Building an inclusive work environment that allows everyone to reach his or her potential

Channel richness

Capacity of a communication channel to effectively carry information

Absence of prejudice and discrimination

Characteristic of a multicultural organization

Informal network integration

Characteristic of a multicultural organization

Minimum intergroup conflict

Characteristic of a multicultural organization

Pluralism

Characteristic of a multicultural organization

Structural integration

Characteristic of a multicultural organization

Openness

Characteristic of open book management

Transparency

Characteristic of open book management

Context

Characteristic of people with high cultural intelligence

Time and space

Characteristic of people with high cultural intelligence

First mover advantage

Comes from being first to exploit a niche or enter a market

Insufficient financing

Common reason for small business failures

Lack of experience

Common reason for small business failures

Lack of expertise

Common reason for small business failures

International business

Conducts commercial transactions across national boundaries

Adjusting to a new culture

Confusion, small victories, honeymoon, irritation and anger, reality

Synergy

Creation of a whole greater than the sum of its individual parts

Insourcing

Creation of domestic jobs by foreign employers

Power distance

Degree to which a society accepts unequal distribution of power

Individualism-collectivism

Degree to which a society emphasizes individuals and their self-interests

Time orientation

Degree to which a society emphasizes short-term or long-term goals

Uncertainty avoidance

Degree to which a society tolerates risk and uncertainty

Masculinity-femininity

Degree to which a society values assertiveness and materialism

Low context culture

Emphasize communication via spoken or written words

Sweatshops

Employ workers at very low wages, for long hours, and in poor working conditions

High-quality richness

Face-to-face meeting and conversations

Child labor

Full-time employment of children for work otherwise done by adults

Organizational subcultures

Groupings of people based on shared demographic and job identities

Self-managing teams

Have the authority to make decisions about how they share and complete their work

Information filtering

Intentional distortion of information to make it more favorable to the recipient

Substantive conflict

Involves disagreements over things such as goals, tasks, and resources

Succession problem

Issue of who will run the business when the current head leaves

Birth stage

Life-cycle stage of the small business life cycle

Breakthrough stage

Life-cycle stage of the small business life cycle

Maturity stage

Life-cycle stage of the small business life cycle

Active listening

Listen for message content, listen for feelings, respond to feelings, note all cues, paraphrase, and restate

Exporting

Local products are sold abroad

Open book management

Managers provide employees with essential financial information about their employers

Employee involvement teams

Meets on a regular basis to help achieve continuous improvement

Low-quality richness

Newsletters, bulletins, blogs

Efficient communication

Occurs at minimum cost to the sender

Formal team

Officially recognized and supported by the organization (e.g. departments, work units, teams, or divisions)

Licensing

One firm pays a fee for the rights to make or sell another company's products

Adjourning

One of the five stages of team development

Forming

One of the five stages of team development

Norming

One of the five stages of team development

Performing

One of the five stages of team development

Storming

One of the five stages of team development

Member composition

One of the four key inputs that are the foundation of team effectiveness

Nature of the task

One of the four key inputs that are the foundation of team effectiveness

Resources and support in the organization

One of the four key inputs that are the foundation of team effectiveness

Team size

One of the four key inputs that are the foundation of team effectiveness

Act as a positive role model

One of the seven ways leaders build teams with the right norms

Control results by performance reviews and regular feedback

One of the seven ways leaders build teams with the right norms

Hold regular meetings to discuss progress and ways of improving

One of the seven ways leaders build teams with the right norms

Reinforce the desired behaviors with rewards

One of the seven ways leaders build teams with the right norms

Train and orient new members to adopt desired behaviors

One of the seven ways leaders build teams with the right norms

Use team decision-making methods to reach agreement

One of the seven ways leaders build teams with the right norms

Member satisfaction

One of the three key output goals for effective teams

Task performance

One of the three key output goals for effective teams

Team viability

One of the three key output goals for effective teams

Cross-functional team

Operates with members who come from different functional units of an organization

Family business

Owned and financially controlled by family members

Communication channel

Pathway used to carry a message

Flexibility