MGMT 2301 Test 2 Objectives

Describe four characteristics common to all organizations, and distinguish between line and staff positions

(1) Coordination of effort, (2) common goal or purpose, (3) division of labor, and (4) hierarchy of authority. Line managers are in formal chain of comman while staff personnel provide support.

Describe the four steps in the strategic management process

(1) Formulation of a grand strategy, (2) formulation of strategic plans, (3) implementation of strategic plans, (4) strategic control

List and explain the four basic steps in the creative problem-solving process

(1) identifying the problem, (2) generating alternative solutions, (3) selecting a solution, (4) implementing and evaluating the solution

Describe a business organization in terms of the open-system model, and explain the term learning organizaiton

A business is dependent on its environment, and is made up of interdependent technical and managerial subsystems. Learning organizations are organizations capable of turning new ideas into improve performance.

Describe how causes of problems can be tracked down with fishbone diagrams

A concise explanation of the problem forms the head of a fishbone diagram. Potential causes are symbolized as the bones extending from the head. Explanations for the cause extend from each bone.

Explain what a condition of risk is and how managers can respond

A condition of risk is incomplete but reliable information that can be responded to by calculating objective or subjective probabilities

Explain the need for a contingency approach in decision making

Accountability is lost in a group setting and group performance does not necessarily beat individual performance. Therefor, having a contingency-approach for group decisions is advisable.

Identify and explain the major contribution to business ecosystems model makes to strategic thinking

Businesses need to be able to cooperate as well as compete. In some situations, working together accomplishes more for everybody.

Describe how highly centralized and highly decentralized organizations defer

Centralized organizations give decision making power to top-ranking executives. Decentralized organizations spread decision making power out between all levels.

Identify seven basic internet business model and discuss the strategic significance of social media

Commission, advertising, markup, production, referral, subscription, and fee-for-service are the seven basic internet business models. Social media is an extremely open communication platform, so companies have to respond quickly to things that threaten their reputation

Explain the concept of synergy and identify four kinds of synergy

Synergy is taking two or more things and combining them to create a greater whole. There is market synergy, cost synergy, technological synergy, and management synergy

Identify and describe five of the ten mental locks potentially inhibiting creativity

1) Looking for a single, "right" answer 2) Strictly following the rules 3) Avoiding failure 4) Over-specialization 5) Saying "I'm not creative"

What are the four practical lessons from business ethics research

(1) 48 percent of workers report engaging in illegal or unethical activity (2) perceived pressure from superiors erodes ethics (3) employees desire clear ethical guidelines (4) good people can rationalize doing bad things

Explain the concept of contingency organization design and distinguish between mechanistic and organic organizations

Contingency design is structuring an organization to meet situational demands. Organic, or flexible, organizations do best when there are unstable conditions. Mechanistic organizations do best in stable conditions.

Define the term corporate social responsibility and identify the four levels of Carroll's global corporate social responsibility pyramid

Corporate Social Responsibility is the idea that corporations have a responsibility to society, not just to making a profit. Carroll's four levels are: economic, legal, ethical, and philanthropic.

Define delegation, and list at least five barriers to delegation

Delegation is when responsibilities are spread out between managers. Five barriers are lack of confidence, lack of trust in others, fear of competition, reluctance to depend on others, and poor role models who do not delegate

Define enlightened self-interest and describe the four strategies regarding social responsibility

Enlightened self-interest is the realization that helping others will ultimately help yourself. The reaction strategy involves denying responsibility. The defense strategy involves actively fighting additional responsibility. The accommodation strategy involves providing assistance when pressured. The proaction strategy involves actively giving back without forced motivation.

Describe the three types of forecasts

Event outcome: What will be the result of an event Event timing: When will this event happen Time series: What will happen over this period of time

Define and discuss the three decision traps: framing, escalation of commitment, and over-confidence

Framing: When people let labels and frames of reference sway their interpretations Escalation of Commitment: When people get locked into losing situations for a fear or quitting and looking bad Over-confidence:Feeling to sure of one's ability to complete a task

Describe the five basic departmentalization formats

Functional departmentalization, product-service, geographic location, customer classifcation, and work flow process departmentalization.

Describe the time dimension of organizational effectiveness

In the near term, effect organizations efficiently accomplish their purposes and satisfy stakeholders. In the midterm, they adapt and develop. Long term, they survive.

Explain the difference between instrumental and terminal values, and explain their relationship to business ethics

Instrumental values involve desired behavior, while terminal values involve desired end-states. Values serve as the core of one's belief and conduct.

Discuss what management can do to improve ethics

Managers can encourage ethics in the following four ways: conducting ethical training, using ethical advocates in high-level decision making, enforce a code of ethics, and create an open climate for dissent

Explain how the traditional pyramid organization is being reshaped

New organizations are characterized by fewer layers, use of teams, and manageably small subunits.

Explain the cultural significance of stories and describe at least three characteristics of organizational cultures

Organizational culture is the "glue" that binds people in an organization together. They can be described as emotionally charged, historically based, dynamic, and inherently ambiguous.

Explain the purpose of a SWOT analysis

SWOT analysis helps identify an organizations key capabilities and niche in the marketplace

Identify and describe four of the ten general ethical principles

Self-interest: Actions done to help one's self Government Requirements: What the law requires Utilitarian benefits: What helps society and others Economic efficiency: How much money and resources are used for one action

Define the term strategic management and explain its relation to strategic planning, implementation, and control

Strategic management is ensuring a competitively superior fit between the organization and its environment. Strategic management effortlessly merges strategic planning, implementation, and control.

Identify the difference between the classic economic model and the socioeconomic model, and the for and against arguments for CSR

The classic economic model has businesses acting purely out of profit motive. The socioeconomic model has businesses act out of a drive for profit and a desire to give back to society. People argue for CSR because businesses have the motivation and resources to improve society and avoid government regulation. People argue against CSR because businesses are unelected officials with no formal obligation, who already have enough power anyway.

Describe Porter's model of generic competitive strategies

The four generic competitive strategies are (1) cost leadership, (2) differentiation, (3) focused differentiation, (4) cost focus

What are the two types of knowledge in knowledge management, and discuss why programmed and nonprogrammed decisions require different decision making procedures

There is tacit knowledge (personal, intuitive, undocumented) and explicit knowledge (documented and sharable). Programmed decisions are clear-cut and routinely encountered, while nonprogrammed decisions require creative thinking and a knowledge system using tacit and explicit knowledge to develop.

Specify at least five sources of decision complexity for modern managers

multiple criteria, intangibles, risk and uncertainty, long-term implications, interdisciplinary input, pooled decision making, value judgments, and unintended consequences