MGMT 100 Exam 2
lotus notes
-CIO at Alpha Corporation believed that Lotus Notes was the "killer app" that would revolutionize how his consultants collaborated. -Believed that the key to successful implementation was achieving 'critical mass' through quick rollout. -Spent little time on training expecting consultants to learn how to use software on their own or clients time. The Lotus Notes project failed. Why? Consultants didn't feel comfortable billing clients for time used to learn software and didn't want to use their own time to do so. Consultants were concerned about how information they shared would be used. Consultants did not want to share their expertise with other consultants with whom they were competing with for promotion!
contingency plan,
A _______ _______ is an alternative course of action when things go wrong (or not as planned). Good ______ _______ will contain "trigger points" for ACTIVATING PRESELECTED ALTERNATIVES: -If 'A' happens, then implement Plan 2 -If 'B' happens, then implement Plan 3
perspectives, own, anchoring
Avoiding Critical Thinking Errors in General: -Always view a problem from different ______. -Think about the problem on your _____ before consulting others. -Be open minded. -Be careful to avoid _______ advisors and others from whom you solicit counsel. -Be particularly wary of anchors in negotiations. Think through your own position to avoid being anchored by the other party's initial positions.
mental models, limitations
Bounded Rationality: FULLY EVALUATING the info we have is DIFFICULT Our _____ _____ can IMPEDE our evaluation of the info. When making decisions we need to: -Decide WHAT and HOW MUCH info we need -How much time we will spend evaluating the info -How to MANAGE the ______ on info.
implementation, expectations, communication
Budgets: -Compel strategic planning, and processes for _________ -Establish a set of _________ for managers -Motivate both managers and employees -Promote intra- and inter-group ______
intertwined rule org mission
Bureaucratic Control Systems: Bureaucratic rules often become _______ with org culture / norms Rules can be effective but also: -Stifle innovation and dissent -Slow-down decision-making -Reduce efficiency Knowledge of ______ = power Rules become more important than actual _____ _____
financial, budget
Controlling expenses is critical to LONG TERM VIABILITY and PROBABILITY. _______ controls: controls used to plan how MONEY will be earned and spent, track financial activities, and provide guidelines to manage expenditures. _________: a document that outlines WHEN and HOW money will be spent and by whom.
confirming evidence
Critical Thinking Error: ____ _____: Selecting or believing only that which SUPPORTS your PREEXISTING VIEWS. How to avoid: seek out views that challenge yours, disconfirming evidence. Example: an HR manager who believes that a job applicant is highly intelligent may pay attention to only the information that is consistent with that belief.
framing
Critical Thinking Errors: ________: Being overly influenced by HOW a problem is EXPLAINED OR SEEN. How to avoid: Don't automatically accept the initial frame. Try to frame the problem neutrally. Example: Would you accept a 50/50 chance of either losing $300 or winning $500?
anchoring
Critical Thinking Errors: ________: overemphasizing/overreliance on information that is FIRST received. How to AVOID: Seek out multiple perspectives, multiple lines of analysis. Example: A CIO choosing which new IT system to purchase uses the first system evaluated as the point of comparison for all others.
status quo
Critical thinking errors: ____ _____: favoring decisions that PERPETUATE the existing condition. How to avoid: question the value of the current condition. Example: Disney fired John Lasseter (who started Pixar) because he was interested in computer animation and Disney had always animated by hand.
information, evaluation, emotional, choosing
Decision making involves: -Collecting _______ -_______the information -Incorporating _____ responses to choices -Evaluating alternatives -Reacting and responding to risk and uncertainty -Making a judgment / _______ a course of action
closest, knowledge
Follett: SHIFT POWER to where it is NEEDED. -Power should reside with those ______ to the problem. -______ & ability should trump seniority or location on the org hierarchy. -"Power with" vs. "Power over" people.
select, accordance, divide
Four principles of Scientific Management: 1)Develop a science for EACH element of work. 2)Scientifically _______ and train all workers. 3)Ensure all work is being done in ________ with the scientific method. 4)_______ work between managers and workers. -Managers scientifically plan work. -Workers execute work.
action, priority, advantage, change
Good Planning Makes us: _____-oriented, keeping a results-oriented sense of direction. ______-oriented, making sure we pay attention to the most important things. _______- oriented, ensuring our resources are used to our best advantage. ________- oriented, anticipating problems and opportunities so that they can be effectively dealt with.
ICT, social space
How is "virtual work" different? -Depends on ____ -Requires a _____ _____ where people connect -Typically geographically distributed
ICT at Work: _______ Highly efficient channel for communication. Drawbacks: -Leading contributor to information overload. -A lot of e-mail is inappropriate/unnecessary. -Contributes to poor communication practices. -Often doesn't include right or necessary info. Difficult to interpret.
innovation efficiency
In Bureaucratic Control Systems Criticism Rules can be effective but also: -Stifle ______ and dissent -Slow-down decision-making -Reduce _____
efficiency well-being
Legacy of "Taylorism" Criticisms: +focuses on ______ at the cost of employee ______-______. +may not be well-suited to non-manufacturing industries. Still has a big influence on modern management methods.
systemic intuitive
Managers use both ____ and _____ Thinking: _____ thinking: approaches problems in a RATIONAL and ANALYTICAL manner. ______ thinking: approaches problems in a FLEXIBLE and SPONTANEOUS manner.
social media policies
Many orgs have ______ _____ _____ help prevent problems before they occur by: -Stating what is appropriate use of social media during work. -Prohibiting the posting of confidential/proprietary info. -Prohibiting anonymous posting. -Telling employees to respect copyright concerns. -Identifying who can represent the company in social media spaces. -Consequences for violations.
baseline benchmarking
Measure Performance: Get a ______ for how the organization is doing on the defined metrics/standards. _________ is important because organizations need a point of comparison. Benchmarks allow you to see whether the org is improving/worsening.
public military
Notorious Bureaucratic Organizations: _____ schools Emphasis on rules over student needs, effectiveness Department of Motor Vehicles Compliance with bureaucratic process over efficiency. _____ Bureaucratic inefficiency leads to combat ineffectiveness, costs lives.
customer relationship management
Part of controlling service _____ _____ _____(CRM): a CUSTOMER-CENTRIC APPROACH to business with the aim of customer "intimacy," a friendly brand image, or both. Includes capturing and analyzing customer data.
forecasting, contingency, scenario, benchmarking, participatory, goal
Planning Tools & Techniques F_______ C______ Planning S______ Planning B_______ P_______ Planning G____ Setting
mission vision, subgoals
Planning during UNCERTAINTY Life is fluid and plans need to be ADAPTABLE. Best approach: (1) link plan to overall ____ / _____ (2) include multiple discrete ____
feedback, forward, concurrent
Provide feedback ________: information about performance is gathered and shared after the fact. Feed-________: potential issues or problems anticipated and addressed prior to occurring. ________: collecting real-time information to reduce "lag-time" between performance assessment and corrective action.
focus, action
Reasons for Planning: Planning improves _______ and ______ orientation. -Helps us avoid the complacency trap (inaction as a result of current success or failure) When we plan we: -Focus on what matters -We look to the FUTURE rather than the now.
coordination, control
Reasons for Planning: Planning improves ________ and _________. -LINKS people and subsystems in a hierarchy of objectives (lower-level objectives help accomplish higher-level ones). Allows us FOLLOW-THROUGH and CONTROL activity
management
Reasons for Planning: Planning improves time ______ by focusing our ATTENTION. Improving time management: -Set PRIORITIES for what really needs to get done. -Work on most important things FIRST -Leave details for later or delegate them to others. -Say "NO" to requests that divert from priorities. -Control SCHEDULE -Stick with chosen priorities.
intranet, extranet
Some Technological Terms: internet - a global network of networks. ________ - an network internal to an organization. _______ - a secure network that spans multiple organizations.
traditional information
Technology's Impact on the World: ICT provide a means to bypass ______ _______ "gatekeepers" -Blogs, twitter, forums instead of nightly news -Trends can go global "overnight" -Mobile ICT has users to bypass the "last mile problem"
performance
The Hawthorne Effect: the phenomenon in which subjects in behavioral studies CHANGE their ______ IN RESPONSE to being _______. Major contribution: drew attention to issues such as: -Job satisfaction -Motivational influences -Resistance to change -Norms -Participation -Leadership
human relations people
The Hawthorne Studies Part of the _____ _____movement: -a scientific movement AWAY from workplace efficiency towards focusing on _____, interpersonal relationships, and group behavior.
objectives, stand, premises, plan, evaluate
The Planning Process: 1. Define your _______. 2. Determine where you ______ in terms of your objectives. 3. Develop _______ regarding future conditions (alternate scenarios of what may happen). 4. Make a _____. 5. Implement the plan and ______ results. The Planning process applied Get an 'A' in MGMT 100 I currently have an 88% in the class. Class gets harder, easier, more or less time demands I need to average 94% on remaining work. I will study 1 hour every night, outline chapters, ask 1 question every class. I scored a 98% on the last two quizzes
magic bullet theory
The ______ ______ ______ of ICT Main Tenants: Three main tenants -ICT-- CHANGE USER BEHAVIOR, goals, motivations and beliefs. -ICT -- ALWAYS WORK; so designers only need to worry about performance and aesthetics rather than design impacts. -ICT provide INCREASED PROFITS How it Fails: -Users can and do resist ICT implementation. -Users can and do use new ICT in unintended ways. -Users may not use the system at all.
bounded rationality
To be RATIONAL is to make reasoned, informed decisions. _____ ______: all decisions are made under CONDITIONS AND CONSTRAINT that limit rationality. -Info will never be complete or completely accurate. -We cannot always evaluate the info we get. -It is impossible to evaluate all info or all possible choices. -We are not purely rational. -Time limits are ability to engage rational decision-making processes.
short, long, strategic, operational, function
Types of Plans used by Managers: -______-range (< 1 year) & _____-range plans (>=3 years) -3 more types of Managerial Plans _______: long term directions ______: ways to implement strategic plan ______(tactical): identifies how different parts of the org will contribute to realization of strategic goals.
technological determinism
Understanding ICT & Work ______ _______: technology determines HUMAN BEHAVIOR, is value NEUTRAL, and technological advance occurs on its own. A very common view, particularly in the U.S. Many managers succumb to this view in the belief that ICT is a "MAGIC BULLET" that will cure whatever organizational ills there are.
technological determinism, sociotechnical
View of ICT _______ ______ -Technology is neutral -Technology is self-determining __________ View -Technology is both the hardware and the social context within which it is designed, implemented and used. -Consequences of technology are often unanticipated
peer production
Web 2.0: The evolution in web technologies A shift in thinking about how people use the web. -Instead of passive, isolated, asynchronous the web should be collaborative, user-driven and social. Web 2.0 is user-driven and interactive -______ _____: the working together of individuals to produce content and services. -Blogs -Microblogs -Wikis -Youtube -Social Networking -Tagging
financial, service
What should orgs control? _________ performance -Accounting -Finances ______ -Customer Relations Quality
behavior, resources
Why do we care about Organizational Controls? -ALL ORGANIZATIONS, to some extent, want to CONTROL what happens within the organization. -Organizations need to: +Control employee _____ +The use of org ______ & finances +Customer experience +Quality Control Process: an org's system for establishing standards, monitoring and measuring performance, and taking corrective action.
hybrid worker
Works BOTH at the office and out of the office. -This type of work, whether formally acknowledged is increasingly common. -One of the reasons for the productivity paradox: though technologies have become smarter and faster, our productivity is relatively stagnant. -Companies are designing workspaces to accommodate hybrid work
normative control
____ ____: SHARING and EMBEDDING an organization's values and beliefs so that they act as a GUIDE for employee behavior. Org IDENTITY and culture play a big role here. Rules tend to be LESS formal, explicitly articulated.
goal setting, stretch goals
_____ _____ Great goals are: -Specific -Timely -Measurable -Challenging -Attainable ______ ______: performance targets that we have to work extra hard or "stretch" to reach.
decision making
_____ _____ is making a CHOICE among possible alternatives "A cognitive, emotional, and neuropsychological process...that results in making a judgment or choosing from alternatives."
Social Media / Networking
_____ _____/______ Often serve as the ORGANIZATIONAL "GRAPEVINE" - a place where gossip occurs. Can be a place where organizations communicate to customers. Risk of organizational members posting inappropriate information on sites.
halo effect
_____ _____: when we are POSITIVELY BIASED towards something or someone based on a previous positive experience.
participatory planning
_____ ______: including the PEOPLE EFFECTED by plans and/or the people who will have to implement them in the planning process. -Increases understanding of the plans -Increases commitment to the plans -Can product better plans
critical thinking
_____ _______ Definition: the DISCIPLINED intellectual PROCESS of evaluating situations or ideas and making appropriate judgments or taking certain actions. Goal is to objectively (as possible) EVALUATE SOMETHING and draw a CONCLUSION.
programmed
______ Decisions: decisions that are ROUTINE in nature and occur with some FREQUENCY. -Applies a solution from past experience to a routine problem. -Tend to be easier to make -Organizations spend lots of energy trying to make most decisions be programmed decisions.
Objective Control
______ _____: Focus is on objectively measuring performance 2 types: 1)output control 2)behavior control
six sigma
______ ______ A management strategy that employs quality management methods in a SPECIFIC SEQUENCE to reduce costs and increase profits. Very popular in MANUFACTURING. Very detailed, incremental.
Business Process Reengineering
______ ______ ________(BPR) - a management approach that utilizes IT and MANAGEMENT SCIENCE to redesign business processes and increase EFFICIENCY. -Focuses on a fundamental rethinking of how the business does things. -Often leads to downsizing, reorganization.
control process
______ ______: an org's system for establishing standards, monitoring and measuring performance, and taking corrective action.
accounting controls, cash flow, balance sheet, profit loss
______ _______: document what an organization owes and is owed; assets and liabilities. Accounting Tool -______ _____ analysis: an analysis of the money coming in to, and going out of, the organization (either currently or in the future). -____ _____: snapshot of company assets and liabilities at a point in time. -_____ and _____ statement: itemizes revenues and expenses.
productivity paradox
______ _______: though technologies have become smarter and faster, our productivity is relatively stagnant.
scenario planning
______ ________: identification of ALTERNATIVE FUTURE SCENARIOS (what-if's) and plans for each. For example, an oil company may develop plans for the following scenarios: -War in the Middle East -Environmental disaster -Natural disaster -Embargo
non programmed
______ decisions: decisions that are NOT ROUTINE and/or involve UNIQUE information or circumstances. -Applies to a specific solution that has been crafted to address a unique problem. -Take more time to evaluate. -More DIFFICULT to make.
satisficing
______: choosing an alternative that is adequate but not perfect. "The least-worst option."
schemas
______: conceptual maps of the environment that allow us to process and categorize information. -Another way of thinking about ___''___ is by thinking of them as "MENTAL MODELS" or understandings of situations based on past experience and knowledge. -Our ___''____can sometimes lead us to misunderstand the situation.
texting
_______ (IM & SMS) Can be effective for short, quick communications. Drawbacks: -Often incomplete. -Use acronyms / codes that may not be understood (OMG!). -Interrupt work. -Difficult to convey emotion, other contextual signals. Emoticons are typically inappropriate in most businesses.
lean management
_______ ______ Organizes manufacturing and logistics to maximize EFFICIENCY and ELIMINATE WASTE by reducing variation in every process. Goals -Improve quality -Eliminate waste -Reduce time -Reduce total costs
total quality management
_______ ______ ________ (TQM) A quality control philosophy that attempts to REDUCE DEFICIENCIES and VARIATION through standardization, employee involvement in decision making, and continuous improvement. Big in the manufacturing sector.
Corporate governance
_______ ______: the LAWS, PROCESSES, POLICIES, REGULATIONS, and CUSTOMS that are used to control, administer, and direct an organization. Typically described in official, legally binding, CONTRACTS. Involves management, board of directors (or trustees), and select stakeholders.
scientific management
_______ _______: organizing work for maximum efficiency. Even right down to the tools that were being used! -ENGINEERING BASED approach to management Four principles: 1)Develop a science for each element of work. 2)Scientifically select and train all workers. 3)Ensure all work is being done in accordance with the scientific method. 4)Divide work between managers and workers. -Managers scientifically plan work. -Workers execute work.
forecasting, qualitative, quantitative
_______: predicting the future. Can be _______: relies on the opinions of experts. Can be ________: relies on mathematical models and statistical analysis of historical data and surveys.
Sociotechnical Systems Theory
________ _________ ______ Definition: ICT are _______ _______ - ensembles of both MATERIAL (physical) technologies and the SOCIAL CONTEXTS in which they are designed, deployed, and used. Two main principles: 1)The impact of ICT on organizational performance is determined by both technological and social factors. 2)Exclusive focus on the technological or the social products suboptimal results.
standards metrics, quantitative, qualitative
________ and ______: define quality and efficiency criteria. Logic: If the correct standards and metrics are created, and then exceed, organization should meet its GOALS. Can be q_______ (numbers) or q_______ (descriptive) Example: Store #4011 will exceed last year's annual sales volume by 10% (quantitative). Example: Customers will be treated is a courteous and respectful manner (qualitative). NOTE: qualitative standards/metrics are often assessed quantitatively!
systemic
________ decision making: The 8 Step Model: 1.Identify the problem 2.Establish the decision criteria 3. Allocate weights to the decision criteria 4. List alternatives 5. Analyze alternatives 6.Choose an alternative 7.Implement the decision 8. Evaluate the decisions
Information & communications technologies
_________ & ______ ______ (ICT): hardware and software used for electronic communication. Examples: -Smartphones -Laptop computers -Social networking websites -SMS messaging -Microblogs (e.g., Twitter) -Fax machines -E-mail
benchmarking
_________: the use of EXTERNAL COMPARISONS to gain insights for planning. "How are we doing compared to others?" Example: -Best Buy might benchmark on the following dimensions: +Sales/square foot compared to sector average +% of customer who enter store that buy +Profit margin vs. competitors
telecommuting
_________: working outside the firm's offices via digital technologies. Many of today's jobs do not require physical co-location because the work centers around ideas. ~32% of Americans telecommute But only ~12% of employers encourage it. Why?
stereotypes
__________: OVERSIMPLIFIED ideas or beliefs that are rigid and difficult to change. -When we believe ____''____ we have a hard time reconciling contrary data.
mechanization, informaticization
____________ -Contributed to the shift from an agrarian/rural economy to an urban/economy -Machinery allowed farms to get bigger yet employ fewer farm laborers. "____________" -ICT have contributed to globalization and increased competitiveness in the market -Labor market has moved from manufacturing to service
how
compare performance to standards: Analyze _____ the org is performing against standards. +The clearer the standard, the easier to measure.
bureaucratic
control systems: _________ Control Systems Use RULES, STANDARDS, and HIERARCHICAL authority to achieve desired outcomes. Highly STRUCTURES, top-down decision-making Emphasis is on: -roles over individuals -rules over judgment
sunk costs
critical thinking error: ______ ______: making choices that JUSTIFY previous decisions that were FLAWED How to avoid: Know when to quit; don't be afraid to admit failure. Example: Having spent $100M developing a new product line that is unpopular; the company spends another $100M to try and make it popular.
forecasting, estimating
critical thinking errors: _______ and _______: Being overly optimistic, overly cautious, or overly influenced by extreme examples. How to avoid: Assess whether memories are outliers/extremes or typical. Example: we overestimate the risk of flying because of the dramatic impression accidents leave on our memories.
negative
email mistakes: -Assuming that your reader understands your intended emotions. -Overstating emotions in e-mail to make sure the receiver gets the point. -Assuming all readers will interpret emotions expressed in an e-mail in the same way. -Failing to recognize that emotion can be magnified when interpreted and received in e-mail - especially ______ emotions.
functional plan
example of _____ ____ Marketing will develop an aggressive promotional plan linking smart phones to our other products. Legal/Finance will negotiate contracts for increased, high-impact shelf-space in retail outlets. Manufacturing will audit their manufacturing processes to identify areas where costs can be reduced.
strategic plan
example of _____ _____ We will increase profitability of our smart phone product line by 25%
operational plan
example of _____ ______ Profitability will be increased by 25% through the following steps: 10% increase in market-share. 15% decrease in manufacturing costs 5% increase in supply chain efficiency.
output control
in objective control: ____ ______: outcomes are MEASURED against clearly ARTICULATED MEASURES. -Example: sales quotas -Emphasis is on ends (results) rather than means (how results are achieved.
behavior control
in objective control: _____ _____: behavior controlled through RULES about relations and behaviors. -Examples: reporting rules -Reward for compliance, sanction for non-compliance
complacency trap
inaction as result of current success or failure
hierarchy objectives
lower-level objectives help accomplish higher-level ones
financial, facilitates, marketing, human resource, production
other types of plans: _____: deal with money to support operations. _________: deal with facilities development and work layouts. _________: deal with selling and distributing of goods. _______ _______: hiring, staffing, recruitment, placement of people. ________: methods and tech need to product goods
operations management
quality control: _________ _______: the TRANSFORMATION of materials, labor, ideas (inputs) into goods and services (outputs). -Total Quality Management -Six Sigma -Lean Management Goal: is to IMPROVE the QUALITY of firm performance.
identify problem
systemic decision making: The 8 Step Model: 1. _______ the _____ -Understand WHAT is happening and WHY. -Correctly __''___ the __''____ is -critical to making the CORRECT decision! -Emotions and lack of information can make this step very difficult.
decision criterion
systemic decision making: The 8 Step Model: 2. Establish _____ _____ Determine on WHAT BASIS the decision will be made. Often useful to phrase the criterion in the form of a question. -E.g., "What skill is most important for this position?"
allocate weights
systemic decision making: The 8 Step Model: 3. _____ _____ to decision criteria Not all criteria are VALUED EQUALLY. By weighting criteria we order them HIERARCHICALLY.
alternatives
systemic decision making: The 8 Step Model: 4. list _________ The ____''____ are listed and weighted giving, which allows us to do the next step.
analyze
systemic decision making: The 8 Step Model: 5. _______ alternatives Consider the alternatives. Do the weights need revising? Is there a criterion you missed?
choose
systemic decision making: The 8 Step Model: 6. _____ and alternative Pick the alternative that is the "best choice." Satisficing: choosing an alternative that is adequate but not perfect. "The least-worst option."
implementing evaluating
systemic decision making: The 8 Step Model: 7. _____& ______ ____''_____ the choice Did the choice produce the desired outcome? If not, do we need to make another choice?
understand why
take corrective action: Most important step: ________ ______ performance is substandard! Determine what needs to be done in to address substandard performance.
planning
the process of setting performance objectives and determining how to accomplish them "the cognitive, creative, and behavioral process of developing a sequence of activities intended to achieve a goal or desired future state"
programmed, non programmed
types of decisions: _____ decisions ___-______ decisions
