Study Guide Chapter 5, 6, 8, 9

Principle of motion economy

(Developed by Frank and Lillian Gilbreth) Means that every job can be broken down into a series of elementary motions.

Leaders must

-Communicate a vision and rally others around that vision -Establish corporate values -Promote corporate ethics -Embrace change -Stress accountability and responsibility

Ouchi's Theory J (Japanese)

-Lifetime employment -Consensual decision making -Collective responsability

Ouchi's Theory Z (Modified American)

-Long-term employment -collective decision making -individual responsability

Theory X

-People dislike to work, must be forced, controlled, directed. -Primary motivators are fear and punishments.

Theory Y(millenials)

-People like to work -People are motivated by a variety of rewards (time off, money, recognition)

Ouchi's Theory A (American)

-Short-term employment -individual decision making -individual responsability

Maslow's hierarchy of needs

-self-actualization -esteem needs -social needs -safety needs -physiological needs

Small-businesses job opportunities

67% of the nation's new jobs are in small businesses.

Job Enlargement

A job enrichment strategy that combines a series of tasks.

Job rotation

A job enrichment strategy that moving employees from one job to another.

Entrepreneurship

Accepting the risk of starting and running a business.

Types of leadership

Autocratic , participative, and free-rein

Computer-aided design (CAD) Computer-aided manufacturing(CAM)

Both refer to the use computers to design or manufacture the products. And 'computer-integrated manufacturing (CIM) is the result of both.

Goals

Broad, long-term accomplishments a company wishes to achieve.

Job titles and abbreviations

CEO (Chief executive officer) COO (Chief operating officer) CFO (Chief financial officer CIO (Chief information officer)

Incubators

Centers that offer new businessess low-cost offices with basic business services.

Decision-making

Choosing between two or more alternatives.

Brainstorming

Coming-up with as many solutions as possible in a short period of time.

Reasons for the growth of small businesses

Computer technology, corporate downsizing, social attitudes, newer tax laws.

Leadership

Creating a vision for others to follow, establishing corporate values and ethics to improve effectiveness and efficiency.

Intrapreneurs

Creative people who work as entrepreneurs within a company.

Organizing

Designing the structure of the organization and creating conditions in which everyone and everything work together.

Victor Vroom's Expectancy theory

Employees expectations can affect motivation. 1.Can I accomplish the task? 2.If I do, whats my reward? 3.Is the reward worth the effort?

Micropreneurs and Home-based businesses

Entrepreneurs willing to accept the risk on businesses that remain small.

Challenges from working from home

Getting new customers, managing time, keeping up work and family, abiding by city ordinances, managing risk.

An entrepreneurial team

Group of experienced people from different areas of business.

Frederick Taylor

His goal was to increase productivity to benefit the company and the worker as well. He thought the solution was to study the best way to perform each task and teach people those methods. He became the father of scientific management.

Service Corps of Retired Executives

Important source of information for small-businesses. More than 10,000 volunteers who counsel owners at no cost.

Planning

Includes anticipating management and determining the best strategies to achieve goals and objectives.

Knowledge management

Keeping the right information in a accesible place and letting know everybody about it.

"How can I learn to run my own business"

Learn from others, get some experience, and take over a successful firm.

Problem-solving

Less formal than decision making and it used for quicker action to solve everyday issues.

PMI

Listing all the pluses and minuses for the solution. The main idea is to make sure the pluses exceed the minuses.

Enterprise resource planning (ERP)

Newer version of MRP, combines finance, human resources, and order fulfillment.

Reasons why people take the risk

Opportunity, profit, independence, and challenge.

Venture capitalists

People that invest in new businesses in exchange for partial ownership.

A Market

People with unsatisfied wants and needs who have the resources and willingness to buy.

Transparency

Presentation of a company's facts in a clear way for all stakeholders.

The Assembly Process

Puts together components to make a product.

Staffing

Recruiting, hiring, motivating, and retaining the best candidates out there to accomplish the company's objectives.

Entrepreneurs

Seek achievement more than power.

Personality Traits

Self-directed, self-nurturing, action-oriented, highly energetic, tolerant of uncertainty.

Enterprise zones also called empowerment zones or enterprise communities

Specific areas in the U.S to which governments attract private business investments by offering lower taxes and other support.

Objectives

Specific, short-term statements detailing how to achieve the company's goals.

Time-motion studies

Studies of the tasks performed in a job and the time needed for each.

Technical Skills

The ability to perform tasks in a specific discipline.

Production

The creation of finished goods and services using the factors of production: land, labor, capital, entrepreneurship, and knowledge.

Equity theory

The idea that employees try to maintain equity (fairness) between what they put and get out of the job.

Facility layout

The physical arrangements of resources (including people) in the production process.

Contingency Planning

The process of preparing alternative types of action to use if its primary plan don't work.

Facility location

The process of selecting a geographic location for a company.

Operational Planning

The process of setting work standards and schedules.

Management

The process used to accomplish organizational goals through planning, organizing, leading, and controlling people.

Abraham Maslow

Thinks that motivation comes from need. If a need is met, its no longer a motivator, so a higher-level need becomes the motivator.

Levels of management

Top Management (President) Middle Management (Division Heads) Supervisory Management (Supervisors) Nonsupervisory (Employees)

SWOT analysis

a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.

Job Enrichment

a strategy that motivates workers through the job itself by assigning work to specific individuals so they complete the task from beginning to end. Higher motivators are responsibility, achievement, and recognition. By Herber'z.

Policies- Strategies-

broad guidelines for action. find out the best way to use resources.

Hygiene Factor

cause dissatisfaction, but changing them will have little motivational effect.

Materials requirement planning (MRP)

computer-based operations management system that uses forecasts to make sure needed parts are available at the right time.

Production management

describes the activities that helped firms create goods.

Controlling

establishes clear standards to determine if the company is progressing toward its goals and objectives, rewarding people for doing good, and taking action for those who are not.

Human relation skills

include communication and motivation; managers are able to work through and with people.

A mision statement

includes the company's purpose, philosophy, long-term survival needs, customer needs, social responsability.

Elton Mayo and the Hawthorne Studies

inspired by frederick taylor's research. They concluded that employees work hard to stay in a group where the atmosphere is informal. Ex: you can talk freely, and even interact with the supervisors.

A Business Plan

is a detailed statement that describes the nature of the business, the target market, and the advantages over the competition.

Strategic Planning

is dony by top management and determines the major goals of the company and the policies, procedures, strategies, and resources.

Extrinsic reward

is given to you by someone else

Intrinsic reward

is the personal satisfaction you feel when you perform well.

Form Utility

is the value producers add to materials in the creation of finished goods and services.

Operations management

its used in both. Area in management that converts or transforms resources, including human ones like technical skills and innovation, into goods and services.

Conceptual Skills

let the manager picture the company as a whole and see the relationships among its various parts.

Leading

means creating a vision for the company and communicating, guiding, training, coaching, and motivating others.

Flexible manufacturing

means designing machines to do multiple tasks.

Empowering Workers

means giving employees the authority to make decisions without consulting.

Enabling

means giving workers the education and tools needed to make decisions.

Participative leadership

means involving managers and employees in making decisions.

Autocratic leadership

means making managerial decisions without consulting others.

Free-rein leadership

means managers establish objectives and employees are free to do whatever is appropriate to accomplish those objectives.

Douglas McGregor

observed manager's attitudes. Theory X and Theory Y

The Hawthorne Effect

refers to people's way to behave differently when they know they're being studied.

Goal-setting Theory by Peter Drucker

says setting ambitious but attainable goals motivate workers to improve performance.

Frederick Hezberg's

studied the important motivators for employees

Mass Customization

styling products to meet the customer's need.

Process manufacturing

the part that physically or chemically changes the material.

Tactical Planning

the process of detailed, short-term statements about what is to be done, who is to do it, and how.

Lean manufacturing

the production of goods using less of everything than in mass production.

The intrapreneurs idea

use a company's existing resources to launch new products and generate new profits.

Telecommuting

working from home via computer