MGT 351 Final

When the tasks and authority associated with various positions in the organization are clearly specified, it creates a scenario where

employees can be held strictly accountable for their actions

Strategic Leadership

- Ability of a CEO and top managers to convey a compelling vision of what the want the organization to achieve to their subordinates

Managing the change process

- Access the situation, is there need for change - decide if/how you want to change - implement - evaluate

Core Values

- Beliefs, traits, behavioral norms and practices - Establishes tone at the top

Behavioral Control

- Direct supervision - Management by objective - Bureaucratic control - Clan control

Three types of control

- Feedforward control - Concurrent control - Feedback control

3 Components of output controls

- Financial Measures - Corp/division/function goals - operating budget

Five Competitive Forces

- Rivalry - Threat of New Entry - Suppliers - Buyers - Substitutes

matrix structure

- an organizational structure that simultaneously groups people and resources by function and product - combines departmentalization at functional and product labels

Entrepreneurial mindset

- human-oriented - purpose-oriented - learning-oriented - team-oriented - task-oriented

Product team structure

- no dual reporting relationship - Functional team members permanently assigned to cross functional team

simple structure

- not elaborate - Low degree of departmentalization - wide spread of control - authority centralized to a single person - little formalization

Billy Jean was angry that her supervisor told her she had to change the way she performed the job to increase her efficiency. However, the supervisor's position gave him the _______ to change Billy Jean's work behavior.

Authority

Decentralization

Degree to which decision-making authority is given to lower levels in an organization's hierarchy.

Organizational Creativity

a decision makers ability to discover original and novel ideas that lead to feasible alternative courses of actionentr

Differentiator

a unique characteristic that distinguishes your business from others

Mission Statement

Defines: - scope and purpose of the company - who we are - what we do - why we are here - what makes us different

Centralization

Degree to which decision-making authority is restricted to higher levels of management in an organization.

Control systems

Dornal target setting monitoring evaluation and feedback systems that provide managers with info

Because Nadia wants to decrease the costs of her business, she uses _______ by choosing to buy inputs in bulk and manufacture products in large quantities.

Economies of scale

In an organization, rules are

Formal, written instructions to achieve specific goals

What is strategy?

Gameplan for the continuation of business

Two divisions of a company decide to consolidate manufacturing facilities to maximize supplier discounts, optimize inventory management, and reduce fixed costs. This is an example of

synergy

According to the SWOT analysis, an opportunity for a company would be the ability to

take over a bankrupt competitor

Societies with low power distance have been defined by Hofstede as those in which

the government uses taxation and social welfare programs to reduce inequality

In a stage-gate development funnel model,

new product ideas are encouraged at stage 1

Hypercompetition

permanent, ongoing, intense competition brought about in an industry by advancing technology or changing customer tastes

The Republic of Somalina has been losing capital to other countries steadily over the last five years. What is likely to happen as a result?

the standard of living will fall

The general environment includes

the wide-ranging global, technological, sociocultural, and political forces that affect organizations.

During a SWOT analysis, Sweet Treats identifies a growing number of local businesses now offering bakery items to customers. This finding would be characterized as a(n)

threat

Entrepreneur

an individual who notices opportunities and decides how to mobilize the resources necessary to produce new and improved goods and services

Riya is assigned to a new project and has ownership for key project stages from planning, through development, to delivery. Riya is considered a _______ member of the project team.

core

_______ is the process by which managers decide how to divide tasks into a specific division of labor.

job design

Enrique noticed that Corey, an automotive technician at his repair shop, seemed bored. Corey was repeatedly performing oil changes, so Enrique gave him the additional duty of repairing tires. This is an example of

job enlargement

Adam Smith advocated _______ to produce products more quickly.

job specialization

Increasing materials turnover and reducing holding costs are key contributors to cost savings achieved by using a

just-in-time inventory strategy

When an organization is competing in a stable market environment with resources readily available,

less coordination and communication are needed among functions

Contract Book

- Organizational commitment to a new product or service

Divisional structures

- Product structure - Geographic structure - market structure

Job simplification

- process of reducing the number of tasks that each worker performs

Financial measures of performance

- profit ratios - liquidity ratios - leverage ratios - activitiy ratios

J.R Hackman and G.R Oldham's job characteristics model

- skill variety - task identity - task significance - autonomy - feedback

Formulation

- the development of a set of corporate, business, and functional strategies that allow an organization to accomplish its mission and achieve its goals

Four Qualities of An Effective Plan (Fayol)

- unity - continuity - accuracy - flexibility

Product development plan

-A plan that specifies all of the relevant information that managers need in order to decide whether to proceed with a full-blown product development effort (finds flaws)

What's the point of strategy?

-Attract and please customers -Compete successfully -Grow the business -Conduct operations -Achieve targeted objectives -Be a good corporate citizen -Shape how business is conducted

Mintzberg typology

-decisional roles -interpersonal roles -informational roles

Four Functions of Management

1. Planning 2. Organizing 3. Leading 4. Controlling

A management team considers the organization's strengths and weaknesses as well as opportunities and threats in its current marketplace. The team is performing a _______ analysis.

SWOT

value chain management

coordinated series/sequence of functional activities to transform inputs into the finished goods/services customers value and want to buy

Northeast Woodworking is a small business run by skilled workers who produce customized and hand-manufactured furniture. This company engages in _______ production.

crafts

Administrative management is the study of how to

create an organizational structure that leads to high efficiency and effectiveness.

Norms are

informal codes of conduct among employees in a particular company

A large, multidomestic organization recently adopted a geographic structure, with numerous divisions. What mechanism would best increase communication and coordination between divisions in this complex structure?

integrating roles

_______ is the combination of skills, knowledge, machines, and computers that are used to produce and distribute goods and services.

technology

Why might an organization choose a divisional structure?

to create smaller, more manageable units within the organization

Planning Levels

corporate, business, functional

SWOT analysis

strengths, weaknesses, opportunities, threats

Levels of Management

- First line managers - Middle Managers - Top (senior) managers

Benefits of having Learning Organization

- Maximizes potential for organizational learning - Allows for personal mastery - individuals develop a desire for learning that continues throughout their work

Challenge to initiating

- Not enough time - no help - not relevant - disconnect between values and actions

4 Approaches to social responsibility

- Obstructionist - Defensive - Accommodative - Proactive

Six-sigma

A technique used to improve quality by systematically improving how value chain activities are performed and then using statistical methods to measure the improvement.

The first step of strategy implementation is

Allocating responsibility for implementation to the appropriate individuals or groups

functional structure

An organizational structure composed of all the departments that an organization requires to produce its goods or services.

When an organization is centralized,

Authority is concentrated at the top of the managerial hierarchy.

Current ratio

Can't calculate for grocery stores, assets vs liabilities

Candlestone operates in a task environment with a high barrier to entry, which means

Candlestone has many competitors and faces challenges from them frequently

Managers who accept the assumptions of Theory X

Counteract workers' natural tendencies to avoid work

According to Fayol, _______ refers to the chain of command extending from the top to the bottom of an organization.

Line of authority

Quick ratio

More liquid assets, not inventory, how can i get cash fast

Learning organization

Organization in which managers maximize individuals or groups abilities to think and behave creatively

Lewin's force field theory

People have resistance to change when they are at the top and at the bottom

Due to changing _______ forces, Constantine's oil company benefited greatly from decreased regulation of his industry.

Political and legal

Organizational architecture

The combination of the organizational structure of a company, its control systems, its incentive systems, its organizational culture, and its human-capital strategy.

Organizational design

The process by which managers make specific organizing choices that result in a particular kind of organizational structure.

strategic intent

concentration of the full force of company resources and competitive actions on a significant and ambitious objective

_______ is a corporate-level strategy that emphasizes reinvesting a company's profits in strengthening its competitive position in its current industry.

concentration on a single industry

Bridgette is not a manager but is expected to make important decisions about how to leverage organizational resources. When she needs another perspective, Bridgette consults with her manager. This demonstrates

decentralized authority

Job specialization refers to the process by which

division of labor occurs as different workers gain expertise in tasks

Dahlia works for a large company in the petroleum industry. It is a centralized organization with many levels of authority. What best describes the company's organizational culture?

emphasis is placed on obeying authority

A furniture company uses an online system to record and monitor orders and, based on trends, redirects production resources to optimize efficiency. This is an example of using _______ to reduce costs.

flexible manufacturing

Total Quality Management (TQM)

focuses on improving the quality of an organizations product

Miranda suggests to her company that they should introduce self-managed teams in order to

increase workforce efficiency

job enlargement

increasing the number of different tasks in a given job by changing the division of labor

job enrichment

increasing the number of tasks in a particular job and giving workers the authority and control to make meaningful decisions about their work

Lumen, a manufacturer of theatre lighting, strives to improve the longevity and brightness of its lights by continuously changing designs and trying different combinations of component parts during manufacturing. This is an example of

incremental product innovation

A(n) _______ organizational culture focuses on driving employees to meet immediate business needs without investing in ongoing employee development and long-term job satisfaction.

inert

To maintain profits while offering the best industry pricing to customers, a furniture company decides to order materials in larger quantities to realize larger discounts on materials. The company is employing a _______ strategy.

low-cost

Sally works on a production line. Her manager moves several of her coworkers around to achieve the right worker-task specialization and to link people and tasks by the speed of the production line. If successful, the manager will

lower costs

For successful total quality management (TQM)

managers in every function must cooperate.

The home page for a pet daycare says it strives to "provide an affordable and safe home away from home where your pets are treated like family and our employees love them like their own." This excerpt is part of the business'

mission statement

Job design

process by which managers decide how to divide taks into specific jobs

_______ is the fundamental rethinking and radical redesign of business procedures to achieve dramatic improvements in cost, quality, service, and speed.

process reengineering

Superior Inc.'s company structure is designed to provide focus to each distinct industry the company serves. This is an example of a _______ structure.

product

A multidomestic company identifies a risk that regulations in some national markets will likely change over time. Such changes could impact product design and distribution in each market and have varying impacts on the company's financial success. What technique would best address the possible impacts of this risk when formulating strategic plans?

scenario planning

The control process

set standard, Measure actual performance, Compare with standard, Identify deviations, Analyze deviations, and Take corrective action

Examples of mores are

societal taboos which censure murder, theft, and incest

When situations occur repeatedly, organizations can develop _______ plans to outline policies, rules, and standard operating procedures (SOPs) on how to handle those situations.

standing

Planning

the process managers use to identify and select appropriate goals and courses of action for the organization

Hybrid Structure

structure of large organization that has many divisions and uses different structures

A company that continually improves management of its value chain in order to supply products with the quality, cost, and features desired in the market is demonstrating

superior responsiveness to customers

_______ is the performance gain caused by two or more departments coordinating their efforts.

synergy

_______ forces are outcomes of changes in the skills and equipment managers use to design, produce, or distribute goods and services.

technological

_______ is the set of values and the norms of behavior which are approved or sanctioned by a particular society.

the national culture

Hofstede's nurturing orientation values

warm personal friendships

Operating budget

Blueprint that states how managers intend to use organizational resources to achieve goals efficiently

In an inert organizational culture,

Poor working relationships frequently develop between the organization and its employees.

Organizational control

Process by which managers monitor and regulate how efficiently and effectively an organization and its members are performing towards org goals

To support a go/no-go decision, a _______ plan outlines the features, resource needs, timeline, and expected benefits associated with realizing a new project.

Product development

Advanco, which completes in a highly competitive, fluctuating market, uses a(n) _______ corporate-level plan so it can make midcourse corrections while keeping its long-term goals in mind.

Rolling

Organizational Learning

The process through which managers seek to improve employees' desire and ability to understand and manage the organization and its task environment.

What is an advantage of free-trade agreements?

They provide manufacturing organizations with opportunities to reduce production costs.

_______ is a technique that focuses all functions within an organization on improving the design, features, reliability, and after-sales support of products.

Total quality management

According to Hofstede, individualist societies

Value personal freedom, personal success, and self-expression

_______ are beliefs about what a society considers to be good, right, desirable, or beautiful.

Values

Each day, a computer engineer is faced with unexpected or unique problems that require him to take initiative and identify creative solutions not fully addressed in existing procedures. This environment could be characterized as having

a flexible organizational structure

Each month, a team of managers evaluates new and in-progress projects and determines which ones will receive the necessary functional resources to progress in the coming month. This process demonstrates

a stage-gate development funnel

To effectively implement total quality management, managers should

ask employees for suggestions about improvements

division of labor

degree in which activities in an organization are subdivided into separate jobs and assigned to individuals

_______ increases costs and forces companies to raise the prices of their products.

differentiation

The intermediate- and short-term plans created within a work group typically address the _______ goals and strategies of an organization.

functional

Each department within an organization should develop a _______ strategy to outline how the department will improve its ability to perform task-specific activities in ways that add value to the organization's goods and services.

functional-level

New product brief proposals

generated through brainstorming and other avenues

Freelance Services Co. has offices in different locations around the country. Each office is self-contained and caters to the needs of the specific region in which it is located. This is an example of a _______ structure.

geographic

To coordinate the activities of people, functions, and divisions and to allow them to work together effectively, managers must develop a clear

hierarchy of authority

Susie belongs to a society that values assertiveness, performance, competition, and results. Her society also encourages freedom of expression and personal success but makes few provisions for the welfare of the weak. According to Hofstede's model of national culture, what is true about her society?

it has an achievement orientation and is high on individualism

_______ refers to a series of functional activities needed to transform inputs into valuable finished goods or services.

value chain