MGT 301 Test 1
Technical Skill
The understanding and proficiency in the performance of specific tasks.
Consistency Culture
Values and rewards a methodical, rational, orderly way or doing things.
Market Entry Strategies
Various tactics that managers use to enter foreign markets.
Task Envirnoment
includes the sectors that conduct day-to-day transactions with the organization and directly influence its basic operations and performance.
Supply Chain Management
refers to managing the sequence of suppliers and purchasers, coving all stages of processing from obtaining raw materials to distributing finished goods to customers.
Social Forces
Aspects of a society that guide and influence relationships among people, such as their values, needs, and standards of behavior.
Classical Perspective
Beginning in the late nineteenth century, this perspective took a rational, scientific approach to management and sought to turn organizations into efficient operating machines.
Adaptability Culture
Characterized by values that support the company's ability to interpret and translate signals for the environment into new behavior responses.
Controlling
Concerned with monitoring employees' activities, keeping the organization on track toward meeting its goals and making corrections as necessary.
Organizational Envrinoment
Consisting of both general and task environments, includes all elements existing outside the boundary of the organization that have the potential to effect the organization.
Economic Development
Countries that are classified as either developed countries or less-developed countries.
Involvement Culture
Culture that places high value on meeting the needs of employees and values cooperation and equality.
Cultural Leaders
Define and articulate important values that are tied to a clear and compelling mission, which they communicate widely and uphold through their actions.
Performance
Defined as the organization's ability to attain its goals by using resources in a efficient and effective manner.
Behavioral Sciences Approach
Draws from psychology, sociology, and other social sciences, to develop theories about human behavior and interaction in an organizational setting.
Chester Barnard
Emphasized the theory that employees have free will and thus can choose whether to follow management's orders.
Humanistic Perspective
Emphasized understanding human behavior, needs, and attitudes in the workplace.
Mary Parker Follett
Emphasized worker participation and empowerment, shared goals, and facilitating rather than controlling employees.
Strategic Issues
Events and focuses that alter on organization's ability to achieve its goals. As environmental turbulence increases, strategic issues emerge more frequently.
Fredrick Winslow Taylor
Father of Scientific Management.
Henri Fayol
Father of the Administrative Principles Approach. Outlined 14 general principles of management, several of which are part of management philosophy today.
Max Weber
Father of the Bureaucratic Organization Apporach
Hero
Figure who exemplifies the deeds, character, and attributes of a strong culture.
Administrative Principles Approach
Focus on the total organization rather than the individual worker and delineates the management functions of planning, organizing, commanding, coordinating, and controlling.
Total Quality Management
Focuses on managing the total organization to deliver quality to customers. The four manor components are: employment involvement, focus on the customer, benchmarking, and continuous improvement.
Organizing
Involves assigning tasks, grouping tasks into departments, and allocating resources.
W. Edwards Deming
Known as the father of the quality movement
Boundary-Spanning Roles
Link to and coordinate the organizations with key elements in the external environments.
Horizontal Management
Management jobs across an organization, such as advertising, sales, finance, human resource, manufacturing, and accounting.
Vertical Management
Management structure that is generally set up in a hierarchy.
High Performance Culture
Managers emphasize both values and business results.
International Management
Managing business operations in more than one country.
Exporting
Market strategy in which a company maintains production facilities within its home country and transfers products for sales in foreign countries.
System Thinking
Means looking not just at discrete parts of an organizational situations, but also at the continually changing interactions among the parts. Because of this, they can get a better handle on managing in complex environments.
Leading
Means using influence to motivate employees to achieve the organization's goals.
Story
Narrative based on true events and is repeated frequently and shared among organizational employees.
Merger
Occurs when two or more organizations combine to become one.
Global Outsourcing
Often referred to as offshoring, means engaging the international division of labor so as to obtain the cheapest sources of labor and supplies, regardless of country.
Top Managers
One who is at the apex of the organizational hierarchy and is responsible for the entire organization.
Functional Manager
One who is responsible for a department that performs a single functional task, such as finance or marketing.
Project Managers
One who is responsible for a temporary work project that involves people from various functions and levels of the organization.
General Managers
One who is responsible for several departments that perform different functions, such as a manager of a Macy's department store or a Ford automobile factory.
Middle Managers
One who work at the middle level of the organization and are responsible for major divisions or departments.
Social Media Programs
Online community pages that enable managers to interact electronically with employees, customers, partners, and other stakeholders.
Competitors
Organizations within the same industry or type of business that vie for the same set of customers.
Customers
Part of the task environment. and include people and organizations that acquire goods or services from the organization.
Subsystems
Parts of a system that depends on one another for their functioning.
Ceremonies
Planned activities at special events, to reinforce company values.
Core Management Functions
Planning, Organizing, Leading, Controlling, Staffing
Common Failures of Skills
Poor communication, failure to listen, poor interpersonal skills, treating employees as instruments, Failure to clarify direction and performance expectations.
Bottom of the Pyramid Concept
Proposes that corporations can alleviate poverty and other social ill's, as well as make significant profits, by selling to the world's poor.
Suppliers
Provide the raw materials the organization uses to produce its outputs.
Inter-organizational Partnerships
Reduce boundaries and increase collaboration with other organizations.
Infrastructure
Refers to a country's physical facilities, such as highways, utilities, and airports, that support economic activities.
Quants
Refers to financial managers and others who base their decisions on complex quantitative analysis, under the assumption that using the quantitative perspective can accurately predict how the market works to reap huge benefits.
Efficiency
Refers to the amount of resources used to achieve an organizational goal.
Globalization
Refers to the extent to which trade and investments, information, ideas, and political cooperation flow between countries.
Political Forces
Relate to the influence of a political and legal institutions on people and organizations.
International Dimension
Represents events originating in foreign countries, as well as opportunities for US companies in other countries.
Economic Dimension
Represents the general economic health of the country or region in which the organization operates.
Labor Markets
Represents the people available for hire by the organization.
Human Relations Movement
Stress the satisfaction of employees' basic needs as the key to increased productivity.
Bureaucratic Organization Approach
Subfield of the classical perspective. Emphasizes management on a impersonal, rational basis through elements such as clearly defined authority and responsibility, formal record keeping, and separation of management and ownership.
Global Mindset
Succeeding on a global level require managers at all levels to this. The ability to appreciate and influence individuals, groups, organizations, and systems that represent different social, cultural, political, institutional, intellectual, and psychological characteristics.
Slogan
Succinctly expresses a key corporate value.
Human Resources Perspective
Suggests that jobs should be designed to meets people's higher level needs by allowing employees to use their full potential.
Customer Relationship Management (CRM)
Systems use information technology to keep in close touch with customers, collect and manage large amounts of customer data, and provide superior customer value.
Contingency View
Tell managers that what works in one organizational situation might not work in others. Managers can identify important contingencies that help guide their decision regarding the organization.
Management
The attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources.
Conceptual Skills
The cognitive ability to see the organization as a whole system and the relationships among its parts
Effectiveness
The degree to which the organization achieves a stated goal, or succeeds in accomplishing what it tries to do.
Culture
The key set of values, beliefs, understanding, and norms shared by members of an organizations.
Planning
The management function concerned with defining goals for future performance and how to attain them.
Human Skill
The managers ability to work with and through other people and to work effectively as a group member.
Synergy
The notion that the whole is greater than a sum of its parts. The organization must be managed as a whole.
Greenfield Venture
A company builds a subsidiary from scratch in a foreign country.
Licensing
A company in one country makes certain recourses available to companies in other countries to participate in the production and sale of its products abroad.
Political Risk
A company's risk of loss of assets, earning power, or managerial control due to politically based events or actions by host governments.
Wholly Owned Foreign Affiliate
A foreign subsidiary over which an organization has complete control.
Franchising
A form of licensing in which a company provides it foreign franchisees with a complete package of materials and services.
Direct Investing
A market entry strategy in which the organization is directly involved in managing its production facilities in a foreign country.
Achievement Culture
A results-oriented culture that values competitiveness, personal initiative, and achievement.
System
A set of interrelated parts that function as a whole to achieve a common purpose. An organization is an example of this.
Organization
A social entity that is goal directed and deliberately structured.
Joint Venture
A strategic alliance or program by two or more organizations.
Scientific Management
A subfield of the classical perspective that emphasizes scientifically determined changes in management practices as the solution to improving labor productivity. Considered one of the most significant innovations influencing modern management.
Economic Forces
Affect the availability, production, and distribution of a society's resources.
Management Science
Also referred to quantitative perspective. Uses math, statistical techniques, and computer technology to facilitate management decision making, particularly for complex problems.
Symbol
An object, act, or event that conveys meaning to others.
Joint Ventrue
An organization shares costs and risks with another firm in a foreign country to build a factory, develop new products, or set up a sales and distribution network.
Multinational Corporation (MNC)
An organization that receives more than 25% of its total sales revenues from operations outside the parent company's home country and has a number of distinctive managerial characteristics.
Staffing
Having the right person, in the right place, at the right time.
Hawthorne Studies
Important in shaping ideas concerning how managers should treat workers.
Natural Dimension
Includes all elements that occur naturally on Earth, including plants, animals, rocks, and natural resources such as air, water, and climate.
Sociocultural Dimension
Includes demographic characteristics, norms, customs, and values of a population within which the organization operates.
Internal Envirnoment
Includes elements within the organization's boundaries, such as employees, management, and corporate culture.
Legal-Political Dimension
Includes government regulation at the local, state, and federal levels, as well as political activities designed to influence company behavior.
Organizational Ecosystem
Includes organizations in all the sectors of the task and general environments that provide the resource and information transaction, flows, and linkage necessary for an organization to thrive.
Technological Dimension
Includes scientific and technological advances in society.
General Environment
Indirectly influences all organizations within an industry and includes five dimensions. The dimensions are: Technological, Sociocultural, Economic, Legal-political, Internal, and natrual
