MGMT Final Review
Disadvantages of electronic Communication
-Digital may not be able to solve complex problems. -There can be the inability to pick up subtle, nonverbal, or inflectional clues. -Electronic messages may be seen by those for whom they are not intended.
Advantages of electronic communication
-More information is shared. -There is speed and efficiency in delivering routine messages to large numbers of people. -Digital saves paper, postage, meetings, travel budgets, and conference calls.
More likely to succeed as an entrepreneur if :
1. Commitment and determination 2. Leadership 3. Opportunity Obsession 4. Tolerance of risk, ambiguity, and uncertainty 5. Creativity, self-reliance, and ability to adapt 6. Motivation to excel
Factors contributing to unethical behavior
1. excessive emphasis on short-term revenues over long-term considerations. 2. Failure to establish written code of ethics. 3. A desire for simple, quick fix solutions to ethical problems. 4. An unwillingness to take an ethical stand that imposes financial costs. 5. Consideration of ethics solely as a legal issue or a public relations tool 6. Lack of clear procedures for handling ethical problems 7. Responding to the demands of shareholders at the expense of other constituents
Decision-making process
1. identify and diagnose the problem 2. generate alternative solutions 3. evaluate alternatives 4. make the choice 5. implement the decision 6. evaluate the decision
Change management process
1.Establishing a sense of urgency 2.Creating the guiding coalition 3.Developing a vision and strategy 4.Communicating the change vision 5.Empowering broad-based action 6.Generating short-term wins 7.Consolidating gains and producing more change 8.Anchoring new approaches in the culture
Techniques for building cohesiveness
1.Recruit members with similar attitudes, values, and backgrounds 2.Maintain high entrance and socialization standards 3.Keep the team small 4.Help the team succeed, and publicize it successes. 5.Be a participative leader 6.Present a challenge from the outside team 7.Tie rewards to team performance
proactive approach
A ____ to developing and managing a diverse workforce has become a fundamental business requirement.
wholly owned subsidiary
A _____ is an independent company owned by the parent corporation-is the most costly method of serving an overseas market.
real team
A _____ is formed of people with complementary skills who trust one another and are committed to a purpose, common performance goals, and a common approach for which they hold themselves accountable.
participative
A ______ leadership style is more appropriate for people who have internal locus control because these individuals prefer to have more influence over their own work (and lives).
performance gap
A ________ is the difference between actual performance and the performance that should or could exist. Is a gateway to the unfreezing process.
becomes a team
A group generally ____ when team members commit to a purpose, pursue goals, and hold themselves accountable to one another.
intrinsic
A person derives an ____ reward directly from performing the job itself.
ethical issue
An __________ is a situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally wrong or right.
standardization and formalization
An important assumption underlying both _____ is that the rules and procedures should apply to most(if not all) situations.
strengths
An organization's ___________ might include skilled management, positive cash flow, and well-known and highly regarded brands.
Lean manufacturing
Another organizing approach, _______, strives for the highest possible productivity and total quality, cost-effectively, by eliminating unnecessary steps in the production process and continually striving for improvement.
control
Any process that directs the activities of individuals toward the achievement of organizational goals
world class
Being __________ requires applying the best and latest knowledge and ideas and having the ability to operate at the highest standards of any place anywhere.
Supply Chain Management
By ______________ , also known as extended enterprise, we mean the managing of the entire network of facilities and people that obtain raw materials from outside the organization, transfer them into products, and distribute them to customers.
mass production
Companies with higher volumes and lower varieties than a job shop use large batch, or _____, technologies.
diverse workforce
Effectively managing a ____ requires overcoming challenges such as unexamined assumptions, lower cohesiveness and communication problems.
Survivor's syndrome
Employees who retain their jobs after downsizing often experience heavier workloads and loss of organizational commitment and become risk-averse, which are usually symptoms of ____.
Communication process
Encode, transition, decode
Joint venture
Establishing a _______ with a company in another country has been a popular means of entering a new market
opportunities
Examples of ___________ are a new technology that could make the supply chain more efficient , and an underserved market niche.
franchising
In ______, the company sells limited rights to use its brand name in return for a lump-sum payment and a share of the franchisee's profits.
two-way
In ________ communication , information flows in two directions-the receiver provides feedback , and the sender is receptive to the feedback.
one-way
In _________ communication, information flows in only one direction-from the sender to the receiver, without the feedback loop
Decentralized
In ___________ organizations, more decisions are made at lower levels.
Functional
In a ____ organization, jobs (and departments) are specialized and grouped according to business functions and the skills they acquire: production, marketing, human resources.
Centralized
In a __________ organization important decisions usually are made at the top.
Moving
In the _______ is to institute the change, begins with establishing a vision of the desired future.
unfreezing
In the ________ stage, management realizes that its current practices are no longer appropriate and the company must break out of its present mold by doing things differently.
Licensing
International ____________ is an arrangement by which a licensee in another country buys the rights to manufacture a company's product in its own country for a negotiated fee
beyond
Leadership goes ____ those functions by inspiring people to accomplish a great vision.
structuring
Management requires ____ the organization, staffing it with capable people, and monitoring results
demographics
Managers must consider workforce ____ in formulating their human resource strategies.
nonprogrammed
Managers typically face ______ decisions : new, novel, complex decisions having no certain outcomes.
diversity
Managing ___ means moving beyond legislated mandates to embrace a proactive business philosophy that values differences positively.
the United States, Canada, and Mexico
NAFTA combined the economies of _____ into one of the world's largest trading blocs.
Discount the future
Often decision makers _______________. That is , in their evaluation of alternatives, they weigh short-term costs and benefits more heavily than long-term costs and benefits.
Force-field analysis
One technique to managing the change process,_________, identifies the specific forces that keep people from changing plus the different forces that drive people toward change.
climate
Organizational ______ consists of the patterns of attitudes and behavior that shape people's experience of an organization.
decision
Participative leadership, or _____ style.
appraisal
Performance ____, the assessment of employees' job performance.
risks
Successful entrepreneurs take very careful , calculated __________
audit
Technology ________; Process of clarifying the key technologies on which an organization depends and identifies which technologies are most important
Trait approach
The ____ is the oldest leadership perspective; it focuses on individual leaders and attempts to determine the personal characteristics(traits) that great leaders share.
Americans with Disabilities Act
The _____ defines a disability as a physical or mental impairment that substantially limits one or more major life activities.
second
The _____ element of the HR planning process is to choose and implement specific human resources activities, such as recruitment, training, and performance appraisals.
adoption
The _____ of new technology over time follows an S-shaped pattern
mission and vision
The ______ drive the second component of the strategic management process: analyzing the external environment.
mission
The ________ is a clear and concise expression of the basic purpose of the organization. It describes what the organization does, for whom it does it, its basic good or service and its values.
challenge for organizations
The __________ is not just to produce innovative new products but to create a culture that is innovative and that builds a sustainable business.
richness
The amount of information a medium conveys is called media ________.
planning, organizing, leading, controlling
The four functions of management are: _____
commitment
The key element of effective teamwork is ________ to a common purpose.
reward
The leader who has ____ power influences others because she controls valued rewards; people comply with the leader's wishes in order to receive those rewards.
expert power
The leader who has _____ power has certain expertise or knowledge; people comply because they believe in, can learn from, or can otherwise gain from that expertise.
coercive
The leader with _____ power has control over punishments; people comply to avoid these punishments.
referent
The leader with _____ power has personal characteristics that appeal to others; people comply because of admiration, personal liking, a desire for approval, or a desire to be like the leader.
legitamate
The leader with _____ power has the right, or authority, to tell others what to do; employees are obligated to comply.
principal of exception
The managerial _______________states that control is enhanced by concentrating on the exceptions to-that is, significant deviations from the expected result or standard.
McClelland
The most important needs for managers, according to ____ , are the needs for achievement, affiliation, and power.
achievement
The need for _______ is characterized by a strong orientation toward accomplishment and an obsession with success and goal attainment.
affiliation
The need for ________ reflects a strong desire to interact with and be liked by other people.
Downsizing
The planned elimination of positions or jobs
efficient
To be ________ is to achieve goals with minimal waste of resources- that is, to make the best possible use of money, time, materials, and people.
effective
To be _________ is to achieve organizational goals.
dispassionate
Transactional leadership is ____ ; it does not excite, transform, empower, or inspire people to focus on the interests of the group or organization.
high-performance
Ways to build ___ teams include establishing a common purpose, setting measurable goals, and making sure everyone works hard and contributes in meaningful ways.
stereotype
When individuals' interests, values, and cultures act as filters to distort, block, or select what they see and interpret, they tend to _____ their different colleagues
declining
Young workers are ___ in numbers and the fastest-growing age group will be workers who are 55 and older
First
___ in the HR planning process , is to ensure that the right number and types of people are available, HR managers need to know the organization's business plans.
Continual improvement
___ is teaching people how to identify areas for improvement and rewarding them for making improvements.
Employment-at-will
___ is the legal concept that an employee may be terminated for any reason
mass customization
___ is the production of varied, individually customized products at the low cost of standardized, mass-produced products.
Expatriates
____ are parent-company nationals who are sent to work at a foreign subsidiary
Affirmative action
____ are special effort to recruit and hire qualified members of groups that have been discriminated against in the past.
Emotional intelligence
____ are the skills of understanding yourself, managing yourself, and dealing effectively with others.
outsourcing
____ contracting with an outside provider to produce one or more of an organization's goods or services
Maslow's
____ hierarchy of needs illustrates his conception of people satisfying their needs in a specified order, from bottom to top
the fourth phase
____ is Making the choice: important guiding concepts include maximizing, satisficing, and optimizing.
collaboration
____ is a style of dealing with conflict emphasizing both cooperation and assertiveness to maximize both parties' satisfaction.
Job analysis
____ is a tool for determining what is done on a given job and what should be done on that job. JOB Description and job specification
Immigration
____ is another important factor affecting the US population and labor force
Satisfying
____ is choosing the first option that is minimally acceptable or adequate
Standardization
____ is establishing common routines and procedures that apply uniformly to everyone
job description
____ is the job's specific and essential tasks, duties, and responsibilities.
Corporate social responsibility
____ is the obligation toward society assumed by business.
formalization
____ is the presence of rules and regulations governing how people in the organization interact
Task-motivated
____ leadership is leadership that places primary emphasis on completing a task.
Offshoring
____ moving work to other countries
extrinsic
____ rewards are given to people by the boss, the company, or some other person.
Reasons for failure
_____ : are misuse of funds and often fail to use formal control systems
Charismatic leaders
_____ are dominant and exceptionally self-confident, and have a strong conviction in the moral righteousness of their beliefs, and able to arouse a sense of excitement and adventure in followers.
Intrapreneurs
_____ are new venture creators working inside big companies; they are corporate entrepreneurs, using their company's resources to build a profitable line of business based on a fresh new idea.
programmed
_____ decisions have been encountered before. They have objectively correct answers and can be solved by using simple rules, policies, or numerical computations.
job specification
_____ describes the skills, knowledge, abilities, and other characteristics needed to preform the job
Strategic planning
_____ involves making decisions about the organization's long-term goals and strategies.
Total quality management
_____ is a comprehensive approach to improving product quality and thereby customer satisfaction.
business plan
_____ is a formal planning step that focuses on the entire venture and describes all the elements involved in starting it
Path-goal theory
_____ is a theory that concerns how leaders influence subordinates' perceptions of their work goals and the paths they follow toward attainment of those goals
Punishment
_____ is administering an aversive consequence
Sarbanes-Oxley Act
_____ is an act passed into law by Congress to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence
Innovation
_____ is the introduction of new goods or services; a change in method or technology; a positive, useful departure from previous ways of doing things.
Benchmarking
_____ is the process of comparing an organization's practices and technologies with those of other companies.
the third phase
_____ is to Evaluate alternatives: involves determining the value or adequacy of the alternatives that were generated.
the final phase
_____ is to Evaluate the decision : involves collecting information on how well the decision is working.
Transactional
_____ leaders view management as a series of transactions in which they use legitimate, reward, and coercive powers to give commands and exchange rewards for services rendered.
Relationship-motivated
_____ leadership is leadership that places primary emphasis on maintaining good interpersonal relationships.
Controlling
_____ monitors performance and implements necessary changes.
HR planning process
_____ occurs in three stages: planning, programming, and evaluating.
group think
_____ occurs when a tightly knit group is so cooperative that agreeing with one another's opinions and refraining from criticizing others ideas become norms
Third
_____, human resources activities are evaluated to determine whether they are producing the results needed to contribute to the organization's business plans.
SWOT Analysis
______ is a comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.
Maximizing
______ is achieving the best possible outcome.
noise
______ is anything that interferes with, distorts, or slows down the transmission of information
Strategic leadership
______ is behavior that gives purpose and meaning to organizations, envisioning and creating a positive future
Six sigma
______ is designed to reduce defects in all organizational processes-not just product defects but anything that may cause customer dissatisfaction.
Leading
______ is stimulating people to be high performers.
Bureaucratic control
______ is the use of rules, regulations, and formal authority to guide performance. It includes such items as budgets, statistical reports, and performance appraisals to regulate behavior and results.
the fifth phase
______ is to implement the decision: the chosen alternative must be implemented
Optimizing
______ means that you achieve the best possible balance among several goals.
Globalization
_______ also means that a company's talent can come from anywhere.
Contingency plans
_______ are "what if" plans. They include actions to be taken if initial plans do not work well or if events demand a sudden change.
Emerging Technologies
_______ are still under development and thus are unproved.
Organizing
_______ is assembling and coordinating the human, financial, physical , informational, and other resources to achieve goals.
Planning
_______ is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.
knowledge management
_______ is the set of practices aimed at discovering and harnessing an organization's intellectual resources-fully using the intellects of the organization's people
the second phase
_______ is to generate alternative solutions: links problem diagnosis to the development of alternative courses of action aimed at solving the problem.
Legal issue
_______ or a public relations tool.
Market control
_______ uses pricing mechanisms to regulate activities as though they were economic transactions.
Key technologies
________ have proved effective, and provide advantage because not everyone uses them. Provide a major competitive edge that prevents threats from new entrants.
Organizational development
________ is a systemwide application of behavioral science knowledge to develop, improve, and reinforce the strategies , structures, and processes that lead to organization effectiveness.
Environmental scanning
________ means both searching for useful information and interpreting what is important and what is not.
Base technologies
_________ are commonplace in the industry; everyone in the industry must have them. They provide little or no advantage.
threats
_________ could include the possibility that the competitor will enter the underserved niche if it is shown to be profitable.
Management audit
_________ is an evaluation of the effectiveness and efficiency of various systems within the organization, from social responsibility programs to accounting systems.
Management myopia
_________ is focusing on short-term earnings and profits at the expense of long-term strategic obligations.
first phase
_________ is to recognize that a problem exists and it must be solved. Diagnose the reason for the performance gap
Refreezing
_________ means strengthening the new behaviors that support the change. Involves implementing control systems that support the change.
Scanning
_________ uncovers what can be done and what is being developed. Places greater emphasis on identifying and monitoring the sources of new technologies for an industry
Risk
__________ exists when the probability of an action being successful is less than 100 percent and losses may occur.
opportunities and threats
___________ and __________ arise in the macroenvironment and competitive environment.
weaknesses
___________ might be lack of spare production capacity and the absence of reliable suppliers.
Clan control
________does not assume that the interest of the organization and individuals naturally diverge. Uses culture, shared values, beliefs, expectations, and trust.
Pacing technologies
_______have yet to prove their full value but have the potential to alter the rules of competition.
an advantage of managing a diverse workforce
ability to attract and retain motivated employees
Norming
group members agree on their shared goals, and norms and closer relationships develop
Forming
group members attempt to lay the ground rules for what types of behavior are acceptable
storming
hostilities and conflict arise, and people jockey for positions of power and status
perception
is the process of receiving and interpreting information
filtering
is the process of withholding, ignoring, or distorting information.
a challenge faced by organizations when managing a diverse workforce
lack of cohesiveness
culture
organizational ________ is the set of important assumptions about the organization and its goals and practices that members of the company share.
forming, storming, norming, performing
stages of team development
internal resources
strengths and weaknesses refer to ____________.
motivated
teamwork is _________ by tying rewards to team performance.
strategic vision
the __________ points to the future- it provides a perspective on where the organization is headed and what it can become.
performing
the group channels its energies into performing its tasks
needs assessment
training usually starts with a _________. An analysis identifying the jobs, people, and departments for which training is necessary.
performance appraisal asses three basic categories of employee performance
traits, behaviors, and results.
Matrix design - advantages
•Better linkage of employees to the company's goals and strategy •More information sharing •Communication is fostered •Greater responsiveness •Creative ideas from cross-functional work •Loyalty to the organization as a whole rather than to a function or division
SMART goals are:
•Specific •Measurable •Achievable •Results-based •Time-specific
Matrix Design Disadvantages
•Unclear responsibilities and competing priorities •Violation of the unity-of-command principle •Accountability difficult to define •Conflict and stress for employees who must manage a dual reporting role •Additional time required for meetings and other communications •Extensive collaboration needed but not always easy to reward
