Total, BUS 1101 Mega Set, Business 1101 second 2 set of quiz questions, Business Administration - Principles of Management, Management Quiz Questions, Chapter 7 Introduction to Business, Management Chapter 6, OB, Principles of Management, Management....
Recruiting, selecting, and retaining only those who fit in with a company's culture
ASA Framework
Absenteeism
Absenteeism refers to unscheduled absences from work. Such absences are costly to companies because of their unpredictable nature, affecting a manager's ability to Control the firm's or department's budget. Work-life balance is another common reason for absences. Some absenteeism is unavoidable and is related to health reasons.
Satisficing
Accepting the first alternative that meets minimum criteria.
Ethical decision making process
Access situation Consider the stakeholders POV Consider all possibilities Pay attention to how it makes you feel Make a decision Monitor outcomes
Mindguard
According to groupthink theory, is a member of a group who serves as an informational filter, providing limited information to the group and consciously or subconsciously utilizing a variety of strategies to control dissent and to direct the decision-making process toward a specific, limited range of possibilities.
At Intel the key historic decision to abandon memory chips and concentrate upon microprocessors was the result of which of the following?:
Acknowledged by top management
Which of the following is the first stage in the recruitment process?
Acknowledgment of a job opening
Define: Autonomy and Entrepreneurship
Actions that foster innovation and nurture customer and product champions.
Managers face these kinds of issues all the time. Ethical dilemmas can arise from a variety of areas, such as the following:
Advertising (desire to present your product or service in the best light) Sourcing of raw materials (does the company buy from a supplier who may be underpaying their people or damaging the environment?) Privacy (should the company monitor private e-mails that employees write on company time? or the Web sites they visit during work hours?) Safety (employee and community) Pay scales (relation of the pay of top executives to the rest of the company) Product pricing policies (variable pricing, discounts) Communication (with stockholders, announcements of plant closings, etc.)
Check My Work (1 remaining) If a city is considering building a new city office complex, it may appoint a(n) _____________ to research possible locations for the offices within the city, then to present their findings to the city manager for review and presentation to the city council. The committee would be disbanded after its assignment has been completed.
Advisory Committee
Agreeableness
Agreeableness is the degree to which a person is affable, tolerant, trusting, sensitive, kind and warm.
Employee Performance Plan
Agreed-upon set of foals and objectives
Goals and objectives serve to accomplish all of the following EXCEPT:
Align goals with objectives
Goals and objectives serve to accomplish all of the following EXCEPT:
Align goals with objectives.
Stakeholders
All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address
Stakeholders
All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address.
Define: Initiative
Allowing everyone in the organization the right to make plans and carry them out in order to make employees more enthusiastic and encourage them to work harder.
SWOT analysis (strengths, weaknesses, opportunities,threats)
An assessment of strengths, weaknesses, opportunities, and threats. The strategy should leverage strengths to take advantage of opportunities and mitigate threats, while the downside consequences of weaknesses are minimized or managed. Four questions it should ask What can we do? What do we want to do? What might we do? What do others expect us to do?
Intangible asset (net)
An asset that cannot be physically touched, or is not physical in nature. Can be shown on a balance sheet. Can be goodwill, trademarks, licenses, copyrights, formulas, and franchises. Net means the value of intangible assets minus amortization.
Attitude
An attitude refers to our opinions, beliefs, and feelings about aspects of our environment.
Define: Unity of Command
An employee should receive orders from one boss to avoid conflicting instructions.
Time Bound / Tangible
An objective should be grounded within a time frame. With no time frame tied to it, there's no sense of urgency. If you want to lose 10 pounds, when do you want to lose it by? "Someday" won't work. But if you anchor it within a time frame, "by May 1st," then you've set your unconscious mind into motion to begin working on the objective. SMART goals can also be used to help balance work and life; for example, you might commit to leaving work (a specific action) by 6 p.m. at least three days a week (a specific time period that is realistic and measurable). [4] T can also stand for Tangible. An objective is tangible when you can experience it with one of the senses—that is, taste, touch, smell, sight, or hearing. When your objective is tangible, you have a better chance of making it specific and measurable and thus attainable. The objective of climbing the mountain is both grounded in a time frame—six months from now—and tangible, in that you will either experience climbing the mountain successfully or not.
Boundaryless organization
An organization that eliminates traditional barriers between departments as well as barriers between the organization and the external environment
Modular organization
An organization where all the nonessential functions are outsourced
SWOT asks what 4 questions?
Andrews's original conception of the strategy model that preceded the SWOT asked four basic questions about a company and its environment: (1) What can we do? (2) What do we want to do? (3) What might we do? and (4) What do others expect us to do?
Process loss
Any aspect of group interaction that inhibits group functioning.
Operational Decisions
Are decisions that employees make each day to run the organization.
Non programmed decisions
Are unique decisions that require a custom made solution.
Situational Leadership Therory
Argues that leaders must use different leadership styles depending on their follower's development level. Employee readiness defined as a combination of their competence and commitment levels is the key factor determining the proper leadership style. to be effective leaders must use the right style of behaviors at the right time during their development.
Intuitive decision-making model
Arriving at decisions without conscious reasoning. The model argues that in a given situation, experts making decisions scan the environment for cues to recognize patterns.
4 types of Creativity
As summarized in the figure, their research suggests that there are four types of creativity: (1) investment (external orientation with high control), (2) imagination (external orientation with flexibility emphasis), (3) improvement (internal orientation with high control), and (4) incubation (internal orientation with flexibility emphasis).
Steps in an Ethical Decision-Making Process
Assess the situation. What are you being asked to do? Is it illegal? Is it unethical? Who might be harmed? Identify the stakeholders and consider the situation from their point of view. For example, consider the point of view of the company's employees, top management, stockholders, customers, suppliers, and community. Consider the alternatives you have available to you and how they affect the stakeholders: consequences duties, rights, and principles implications for personal integrity and character How does the action make you feel about yourself? How would you feel if your actions were reported tomorrow in the Wall Street Journal (or your daily newspaper)? How would you explain your actions to your mother or to your 10-year-old child? Make a decision. This might involve going to your boss or to a neutral third party (such as an ombudsman or ethics committee). Know your values and your limits. If the company does nothing to rectify the situation, do you want to continue working for the company? Monitor outcomes. How did the decision work out? How did it turn out for all concerned? If you had it to do over again, what would you do differently? [5]
Current assets
Assets that are cash or can be readily converted to cash in the short term, such as accounts receivable or inventory.
Fixed assets
Assets that are not easily converted to cash in the short term; that is, they are assets that only change over the long term. Land, buildings, equipment, vehicles, furniture, and fixtures are some examples. They show less accumulated depreciation
Delegation assigns work and power to other workers as required by the centralization or decentralization of authority within the organization. What is the last step in the delegation process?
Assign accountability
operational planning
Assumes the existence of goals in objectives and specifies ways to achieve them.
Understand where goals and objectives fit in employee development.
At some point in the year, the supervisor should hold a formal discussion with each staff member to review individual activities to date and to modify the goals and objectives that employee is accountable for. This agreed-upon set of goals and objectives is sometimes called an employee performance plan. If major concerns arise, the performance plan can be modified or the employees can receive development in areas in which they may be weak. This also is a time for the employee to provide formal feedback to the supervisor on the coaching, on the planning, and on how the process seems to be working. The section concluded with a range of best practices for the performance evaluation process, including the revision of goals and objectives when the needs of the organization change.
Self-Effacement Bias
At the same time, other people have the opposing extreme, which may be labeled as self-effacement bias, or modesty bias. This is the tendency to underestimate performance and capabilities and see events in a way that portrays them in a more negative light. Individuals with low self-esteem are more prone to making this error.
Organizational culture is maintained through a process known as...
Attraction-selection-attrition (ASA)
Attractiveness and Profitability
Attractiveness and Profitability Using Porter's analysis firms are likely to generate higher profits if the industry is difficult to enter, there is limited rivalry, buyers are relatively weak, suppliers are relatively weak, there are few substitutes. Profits are likely to be low if the industry is easy to enter, there is a high degree of rivalry between firms within the industry, buyers are strong, suppliers are strong, it is easy to switch to alternatives.
Define: Simultaneous Loose-Tight Properties
Autonomy in shop-floor activities plus centralized values.
Understand why people resist change.
Disrupted Habits People often resist change for the simple reason that change disrupts our habits. When many individuals hop into their cars for the daily commute to work, little thought is given to their driving because the activity has become routine over time. Personality Some people are more resistant to change than others. Recall that one of the Big Five personality traits is Openness to Experience; people who rank high on this trait will tend to accept change readily Feelings of Uncertainty Change inevitably brings feelings of uncertainty. Fear of Failure People also resist change when they feel that their performance may be affected under the new system. Personal Impact of Change It would be too simplistic to argue that people resist all change, regardless of its form Perceived Loss of Power One other reason people may resist change is that change may affect their power and influence in the organization. Imagine that your company moved to a more team-based structure, turning supervisors into team leaders. In the old structure, supervisors were in charge of hiring and firing all those reporting to them. Under the new system, this power is given to the team. Summary: People resist change because change disrupts habits, conflicts with certain personality types, causes a fear of failure, can have potentially negative effects, can result in a potential for loss of power, and, when done too frequently, can exhaust employees.
Seven reasons why people resist change
Disrupted habits, personality, feelings of uncertainty, fear of failure, personal impact of change, prevalence of change, perceived loss of power,
Diversification
Diversification exists when an organization participates in multiple businesses that are in some way distinct from each other, as Taco Bell is from Pizza Hut, for instance. Just as with a portfolio of stock, the purpose of diversification is to spread out risk and opportunities over a larger set of businesses
Which of the following statements regarding overcoming resistance to your proposals is INCORRECT?
Do not listen to naysayers.
Environmental scanning is the act of analyzing the critical external contingencies facing an organization in terms of:
Economic conditions, competitors, and customers
Authentic leadership approach
Effective leaders who stay true to themselves. They derive their strength from their own past experiences. A key characteristic is that they are self aware.
Countries with low collectivism:
Emphasize individual achievement
Countries with low institutional collectivism:
Emphasize individual achievement
In countries with low institutional collectivism:
Emphasize individual achievement
In countries with low institutional collectivism:
Emphasize individual achievement.
Employee Engagement
Employee engagement is a concept that is generally viewed as managing discretionary effort; that is, when employees have choices, they will act in a way that furthers their organization's interests. Engaged employees are dedicated, passionate, and absorbed in their work.
Define: Discipline
Employees must obey the rules if the company is too run smoothly. If they don't they might quickly find themselves looking for a new job.
How managers approach each P-O-L-C dimension is affected by
Employees' personalities, attitudes, and work behaviors.
Allowing individuals to work on their own, with little supervision is called:
Empowerment
In the contemporary view of organizations, top managers support and serve other managers and employees through a process called ____________
Empowerment
Allowing individuals to work on their own, with little supervision is called:
Empowerment.
Refreezing
Ensuring that change becomes permanent and the new habits, rules, or procedures become the norm.
Controlling
Ensuring that performance does not deviate from standards. Controlling consists of three steps 1. Establishing performance standards,2 comparing actual performance against standards, and 3 taking corrective action when necessary.
Four decisions roles managers play
Entrepreneur, disturbance handler, resource allocator, negotiator
Organizational change is often a response to changes in the
Environment
According to Fayol, orderliness refers to:
Environment, materials and policies
According to Fayol, orderliness refers to:
Environment, materials and policies.
According to Fayol, orderliness refers to:
Environment, materials, and policies
Measurable
Establish concrete criteria for measuring progress toward the attainment of each objective you set. When you measure your progress, you stay on track, reach your target dates, and experience the exhilaration of achievement that spurs you on to continued effort required to reach your objective. To determine whether your objective is measurable, ask questions such as: How much? How many? How will I know when it is accomplished? Notice that the specific version of the "get in shape" objective includes metrics of time and distance.
Integrating Ethics into Managerial Decision Making
Ethics implies making a choice between decision-making rules. For instance, when choosing between two suppliers, do you choose the cheapest (decision rule 1) or the highest quality (decision rule 2).
Self-development, individual initiative and organizational loyalty are:
Examples of organizational citizenship behaviors
Self-development, individual initiative, and organizational loyalty are:
Examples of organizational citizenship behaviors
Self-development, individual initiative and organizational loyalty are:
Examples of organizational citizenship behaviors.
Change
Executing the planned changes
A way to test ideas in small steps is:
Experimentation.
Experimentation
Experimentation. Experiments are a way to test ideas in small steps. Experiments let companies hunt for and test new knowledge, such as new ways of recycling waste or of structuring an incentive program.
Learning and Growth
Explore the effectiveness of management in terms of measures of employee satisfactions and retention and information system performance
External Analysis tools
External Analysis Tools Two primary tools to examine the external environment are PESTEL and industry analysis. PESTEL is an acronym that stands for Political, Economic, Sociocultural, Technological, Environmental, and Legal environments. The PESTEL framework directs managers to collect information about, and analyze, each environmental dimension to identify the broad range of threats and opportunities facing the organization. Industry analysis, in contrast, maps out the different relationships that the organization might have with suppliers, customers, and competitors. Whereas PESTEL provides you with a good sense of the broader macro-environment, industry analysis informs you about the organization's competitive environment and the key industry-level factors that seem to influence performance.
5 big personality traits
Extroversion Emotional stability Agreeableness Conscientiousness Openness to experience
Extroversion
Extroversion refers to the degree to which a person is outgoing, sociable, talkative and enjoys socializing.
T/F A group is a cohesive coalition of people working together to achieve an agenda
F
T/F According to Peters and Waterman, productivity through people means treating rank-and-file employees as a source of productivity.
F
T/F After the change is implemented, the long-term success of a change effort depends on the extent to which the change becomes part of the company's strategy.
F
T/F Biased visual perception may not necessarily lead to the wrong inferences about the people and objects around us.
F
T/F Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche.
F
T/F Goals and objectives are a not a basis for reward systems.
F
T/F Having role ambiguity and experiencing conflicting role demands are related to higher job performance.
F
T/F Health related absenteeism is costly, and it would be affective to institute organizational policies penalizing it.
F
T/F Impressions may be defined as the process by which individuals detect and interpret environmental stimuli.
F
T/F In jobs with high complexity, it is not critical to have high "g".
F
T/F It is not only the top managers who set goals and objectives for the entire organization.
F
T/F Mission and vision statements are designed to provide a statement of justification for existence to an organization.
F
T/F Monitor, disseminator, and spokesperson are the three decisional managerial roles in an organization.
F
T/F Studies show that our personality does not have lasting consequences for us.
F
T/F Teamwork is a common theme of organizational citizenship behavior.
F
T/F The three informational roles assumed by a manager are primarily concerned with providing information outside the organization.
F
T/F Triple bottom line refers to the measurement of economic, social, and organizational performance.
F
T/F When a scorecard is disseminated, strategy becomes a tool specifically for top management.
F
Companies that have a stable culture quick to take action, not suited to changing and dynamic environment, public sector institutions EXCEPT
Fair, supportive, and respectful toward individual rights.
Define: Equity
Fairness, dignity, and respect should pervade the organization. Bosses must treat employees well.
A functional structure works best for organizations that offer wide variety of products lines.
False
A group is a cohesive coalition of people working together to achieve an agenda
False
A group is a cohesive coalition of people working together to achieve an agenda.
False
A group is a cohesive coalition of people working together to achieve an agenda:
False
A group is a cohesive coalition of people working together to achieve an agend~
False
A mission statement does not provide insights into the company culture.
False
A vision captures the key elements of the organization's past and present.
False
According to Peters and Waterman, productivity through people means treating rank-and-file employees as a source of productivity.
False
After the change is implemented, the long-term success of a change effort depends on the extent to which the change becomes part of the company's strategy
False
After the change is implemented, the long-term success of a change effort depends on the extent to which the change becomes part of the company's strategy.
False
As we moved from a manufacturing society to a service-based and knowledge-based one, the kind of analysis to devise efficient motion and tools became more relevant.
False
Biased visual perception may not necessarily lead to the wrong inferences about the people and objects around us.
False
Companies that have stable cultures value fairness, supportiveness, and respect toward individual rights.
False
Companies use social networking systems internally to help their employees identify new ideas.
False
Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors.
False
Creativity and passion can influence the organization's strategy. Select one: True False
False
Decisions can be made more quickly in centralized companies
False
Decisions made about the structure of an organization are generally referred to as operational planning decisions.
False
Design and emergence strategies involve specific levels of the organization.
False
Division of labor can improve coordination between different tasks and the people who perform them.
False
Employees with more complete information are no more committed to the change effort than those who have less than complete information.
False
Empowerment is the process of authorizing an individual to think, behave, take action, and control work and decision making in an organization.
False
Ethics implies deciding on a course of action when clear decision rules are available.
False
Executives across the world believe that business has a responsibility to address issues like environmental concerns only so far as the law requires.
False
Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche.
False
Functional structures tend to be effective when an organization has a large number of products and services requiring special attention
False
Goals and objectives are a not a basis for reward systems.
False
Goals are typically not set for the organization but for the stakeholders outside the organization.
False
Having role ambiguity and experiencing conflicting role demands are related to higher job performance.
False
Health related absenteeism is costly, and it would be affective to institute organizational policies penalizing it.
False
Historic financial goals and objectives, even though financial outcomes are wide ranging in scope, are also purely historic.
False
Horizontal linkages refer to unofficial relationships such as personal friendships, rivalries, and politics.
False
Horizontal linkages tie supervisors and subordinates together.
False
Impressions may be defined as the process by which individuals detect and interpret environmental stimuli.
False
In centralized companies, many important decisions are made at lower levels of the hierarchy.
False
In jobs with high complexity, it is not critical to have high "g".
False
In order for the change effort to be successful, it is important to communicate the need for change to the stockholders.
False
It is important to note that the concept of strategy is relevant to only large, public companies like GE.
False
It is not only the top managers who set goals and objectives for the entire organization.
False
Job design and job analysis are processes aimed at the same purpose.
False
Leadership is defined as when, where, and how to use formal sources of authority and power, such as position or ownership.
False
Mission and vision both relate to an organization's purpose and are typically communicated orally.
False
Mission and vision both relate to an organization's purpose and are typically communicated orally. Select one: True False
False
Mission and vision statements are designed to provide a statement of justification for existence to an organization.
False
Mission and vision statements are designed to provide a statement of justification for existence to an organization. Select one: True False
False
Monitor, disseminator, and spokesperson are the three decisional managerial roles in an organization.
False
Multidivisional structures create cross-functional teams that each work on a different project.
False
Not all organizations need strategies to survive and thrive
False
Not all organizations need strategies to survive and thrive.
False
One-on-one communication in a virtual organization is preferable because it keeps everyone up to speed and promotes learning across the organization.
False
Organizational citizenship behaviors are individual behaviors that are beneficial to the organization and are recognized by the formal reward system of the organization.
False
Organizational commitment is the unemotional attachment people have toward the company they work for.
False
Organizational design is used to match the form of the organization as closely as possible to the vision of the organization. Select one: True False
False
Organizations and social movements alike are using wikis to help people find others with the skills and talents to solve pressing problems.
False
Organizations that successfully align human resources management with mission and vision accomplishment do so by integrating SHRM into the organizing process.
False
Organizations that successfully align human resources management with mission and vision accomplishment do so by integrating SHRM into the organizing process. Select one: True False
False
People do not welcome change whether it is favorable or not to them.
False
Planning is the function of management that involves setting objectives and determining a course of action for achieving these objectives.
False
Principles of division of labor and specialization are used to design individual jobs to most effectively incorporate job enrichment.
False
Research shows that fitting in with a company culture is a strong predictor of job performance.
False
Resistance to change is never a positive force for an organization.
False
Simple organizational structures rely on formal systems of division of labor.
False
Stakeholder analysis may also enable managers to identify other parties that might support well-formulated strategies.
False
Stakeholder analysis may also enable managers to identify other parties that might support well-formulated strategies. Select one: True False
False
Stereotypes are generalizations based on an individual characteristics
False
Strategic management process is the coordinated means by which an organization chooses its mission and vision.
False
Strategic planning generally includes just the top managers and includes formulation of objectives.
False
Strategy encourages actions that support the culture of the organization.
False
Strategy encourages actions that support the culture of the organization. Select one: True False
False
Studies show that our personality does not have lasting consequences for us.
False
Success and progress in achieving goals and objectives will be indicated by how well the vision and mission are achieved.
False
Sweden and New Zealand are high assertive countries.
False
T or F Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors.
False
T or F Design and emergence strategies involve specific levels of the organization.
False
T or F Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche.
False
T or F It is important to note that the concept of strategy is relevant to only large, public companies like GE.
False
T or F Not all organizations need strategies to survive and thrive.
False
T or F Strategic management process is the coordinated means by which an organization chooses its mission and vision.
False
T or F Strategy formulation is essentially the aim of the organizing, leading, and controlling components of the POLC framework.
False
T or F Two or more firms competing for differentiation may engage in price wars that drive profits to very low levels.
False
T or F: Not all organizations need strategies to survive and thrive.
False
T/F Biased visual perception may not necessarily lead to inaccurate inferences about the people and objects around us.
False
T/F Ethics implies deciding on a course of action when clear decision rules are available.
False
T/F Leadership involves the use of power and authority, while Management involves the use of non-coercive influence.
False
T/F Nominal Group Technique (NGT) requires extensive preparation and supplies.
False
T/F Not all organizations need strategies to survive and thrive
False
T/F Only supervisors are affected by the principles of management.
False
T/F Operating in global markets is a new concept for business organizations.
False
T/F Organizational commitment is the unemotional attachment people have toward the company they work for.
False
T/F Stereotypes are generalizations based on an individual characteristic.
False
T/F Strategic management process is the coordinated means by which an organization chooses its mission and vision.
False
T/F Studies show that our personality does not have lasting consequences for us.
False
T/F The best vision statements create harmony with regard to the status quo.
False
Teamwork is a common theme of organizational citizenship behavior.
False
The low cost of computers compared to phones puts them in the hands of more people around the world
False
The main challenge with fact-based objectives is that many firms find future opportunities in markets where there is an existing set of customers.
False
The role of goals and objectives are achieved only in the planning stage
False
The role of goals and objectives are achieved only in the planning stage.
False
The three informational roles assumed by a manager are primarily concerned with providing information outside the organization.
False
There are two decisional managerial roles in an organization.
False
There is usually a strong relationship between good person/organization fit and high job performance.
False
True or False: A mission statement does not provide insights into the company culture.
False
True or False: Aggressive companies tend to value corporate social responsibility
False
True or False: Southwest Airlines prides itself for hiring employees based on specific job-related skills, rather than on personality and attitude.
False
True or false: After the change is implemented, the long-term success of a change effort depends on the extent to which the change becomes part of the company's strategy
False
True or false: Cost leaders must maintain their marketing or face the possible entry of more cost effective competitors
False
True or false: Decentralized companies give more authority to a higher level employee, resulting in a sense of empowerment
False
True or false: Decisions can be made more quickly in centralized companies
False
True or false: Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche.
False
True or false: Firms utilizing a competitive scope strategy can taylor advertising and promotional efforts to a particular market niche
False
True or false: Formalized structures are those in which there are a few rules and regulations
False
True or false: In centralized companies, many important decisions are made at lower levels of the hierarchy
False
True or false: In centralized companies, most important decisions are made at lower levels of the hierarchy
False
True or false: Mission and vision both relate to an organizations purpose and are typically communicated orally.
False
True or false: Stereotypes are generalizations based on an individual characteristic
False
True or false: Strategic management process is the coordinated means by which an organization chooses its mission and vision
False
True or false: Strategy formulation is essentially the aim of organizing, cleaning, and controlling components of the POLC framework.
False
True or false: Sweden and New Zealand are high assertive countries.
False
True or false: Two or more firms competing for differentiation may engage in price wars that drive profits to very low
False
True or false: a group is a cohesive coalition of people working together to achieve an agenda:
False
True or false: according to Peters and Waterman, productivity through people means treating rank-and-file employees as a source of productivity.
False
True or false: biased visual perception may not necessarily lead to the wrong inferences about the people and objects around us.
False
True or false: cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors.
False
True or false: creativity and passion can influence the organization's strategy
False
True or false: decisions made about the structure of an organization are generally referred to as operational planning decisions.
False
True or false: design an emergency strategies involves specific levels of the organization
False
True or false: general managers set specific goals for their own departments and see that the goals are met.
False
True or false: having role ambiguity and experiencing conflicting role demands are related to higher job performance.
False
True or false: health related absenteeism is costly, and it would be affective to institute organizational policies penalizing it.
False
True or false: impressions may be defined as the process by which individuals detect and interpret environmental stimuli.
False
True or false: in jobs with high complexity, it is not critical to have high "G ".
False
True or false: it is important to note that the concept of strategy is relevant to only large, public companies like GE
False
True or false: mission and vision both relate to an organizations purpose and are typically communicated orally.
False
True or false: mission and vision statements are designed to provide a statement of justification for existence to an organization.
False
True or false: not all organizations need strategies to survive and thrive.
False
True or false: one on one communication in a virtual organization is preferable because it keeps everyone up to speed and promotes learning across the organization.
False
True or false: organizational commitment is the unemotional attachment people have toward the company they work for.
False
True or false: organizational design is used to match the form of the organization as closely as possible to the vision of the organization.
False
True or false: organizations and social movements alike are using wikis to help people find others with the skills and talents to solve pressing problems.
False
True or false: organizations and social movements or like are using wiki's to help people find others with the skills and talents to solve pressing problems
False
True or false: organizations that successfully align human resources management with mission and vision accomplishment do so by integrating SHRM into the organizing process.
False
True or false: organizations that successfully align human resources management with the mission and vision accomplishment do so by integrating SHRM into the organizing process.
False
True or false: research reveals a consistent link between personality and absenteeism
False
True or false: research reveals a consistent link between personality and absenteeism.
False
True or false: research shows that fitting in with a company culture is a strong predictor of job performance.
False
True or false: stakeholder analysis may also enable managers to identify other parties that might support well formulated strategies.
False
True or false: strategy encourage his actions that support the culture of the organization.
False
True or false: strategy encourages actions that support the culture of the organization.
False
True or false: studies show that our personality does not have lasting consequences for us.
False
True or false: teamwork is a common theme of organizational citizenship behavior.
False
True or false: the low cost of computers compared to phones puts them in the hands of more people around the world.
False
True or false: the role of goals in objectives are achieved only in the planning stage.
False
True or false: the three informational roles assumed by a manager or primarily concerned with providing information outside the organization.
False
True or false: triple bottom line refers to the measurement of business performance along economic, social, and organizational dimensions.
False
True or false: when a scorecard is disseminated, strategy becomes a tool specifically for top management
False
Two or more firms competing for differentiation may engage in price wars that drive profits to very low levels.
False
Using a multidivisional structure violates the unity of command principle.
False
Vertical linkages are of great importance when close coordination is needed across different segments of an organization.
False
Vertical linkages are often called committees, task forces, or teams.
False
When a scorecard is disseminated, strategy becomes a tool specifically for top management.
False
When people fit their jobs, they experience higher levels of stress.
False
A collection of people is a group and not necessarily a team.
False.
A group is a cohesive coalition of people working together to achieve an agenda.
False.
A mission statement does not provide insights into the company culture.
False.
According to Peters and Waterman, productivity through people means treating rank-and-file employees as a source of productivity.
False.
After the change is implemented, the long-term success of a change effort depends on the extent to which the change becomes part of the company's strategy.
False.
Aggressive cultures tend to value corporate social responsibility.
False.
Biased visual perception may not necessarily lead to the wrong inferences about the people and objects around us.
False.
Companies that have stable cultures value fairness, supportiveness, and respect toward individual rights.
False.
Cost leaders must maintain their marketing or face the possible entry of more cost-effective competitors.
False.
Creativity and passion can influence the organization's strategy.
False.
Decentralized companies give more authority to a higher-level employee, resulting in a sense of empowerment.
False.
Decisions can be made more quickly in centralized companies.
False.
Decisions made about the structure of an organization are generally referred to as operational planning decisions.
False.
Firms utilizing a competitive scope strategy can tailor advertising and promotional efforts to a particular market niche.
False.
Formalized structures are those in which there are few rules and regulations.
False.
Formalized structures are those in which there are few written rules and regulations.
False.
Functional structures tend to be effective when an organization has a large number of products and services requiring special attention.
False.
General managers set specific goals for their own departments and see that the goals are met.
False.
Goals and objectives are a not a basis for reward systems.
False.
Goals are typically not set for the organization but for the stakeholders outside the organization.
False.
Having role ambiguity and experiencing conflicting role demands are related to higher job performance.
False.
Health related absenteeism is costly, and it would be affective to institute organizational policies penalizing it.
False.
Historic financial goals and objectives, even though financial outcomes are wide ranging in scope, are also purely historic.
False.
Impressions may be defined as the process by which individuals detect and interpret environmental stimuli.
False.
In centralized companies, many important decisions are made at lower levels of the hierarchy.
False.
In jobs with high complexity, it is not critical to have high "g".
False.
In order for the change effort to be successful, it is important to communicate the need for change to the stockholders.
False.
Industry characteristics and demands act as a force to create similarities among organizational cultures.
False.
It is important to note that the concept of strategy is relevant to only large, public companies like GE.
False.
Mission and vision both relate to an organization's purpose and are typically communicated orally.
False.
Monitor, disseminator, and spokesperson are the three decisional managerial roles in an organization.
False.
Not all organizations need strategies to survive and thrive.
False.
One-on-one communication in a virtual organization is preferable because it keeps everyone up to speed and promotes learning across the organization.
False.
Organizational design is used to match the form of the organization as closely as possible to the vision of the organization.
False.
Organizations and social movements alike are using wikis to help people find others with the skills and talents to solve pressing problems.
False.
Organizations that successfully align human resources management with mission and vision accomplishment do so by integrating SHRM into the organizing process.
False.
Research reveals a consistent link between personality and absenteeism.
False.
Research shows that fitting in with a company culture is a strong predictor of job performance.
False.
Since there have been tremendous changes in the environment faced by managers, the functions of planning, organizing, leading and controlling are not considered essential functions by many organizations today.
False.
Southwest Airlines prides itself for hiring employees based on specific job-related skills, rather than on personality and attitude.
False.
Stakeholder analysis may also enable managers to identify other parties that might support well-formulated strategies.
False.
Strategic management process is the coordinated means by which an organization chooses its mission and vision.
False.
Strategy encourages actions that support the culture of the organization.
False.
Studies show that our personality does not have lasting consequences for us.
False.
Success and progress in achieving goals and objectives will be indicated by how well the vision and mission are achieved.
False.
Sweden and New Zealand are high assertive countries.
False.
Teamwork is a common theme of organizational citizenship behavior.
False.
The low cost of computers compared to phones puts them in the hands of more people around the world.
False.
The role of goals and objectives are achieved only in the planning stage.
False.
The three informational roles assumed by a manager are primarily concerned with providing information outside the organization.
False.
There are two decisional managerial roles in an organization.
False.
Triple bottom line refers to the measurement of business performance along economic, social, and organizational dimensions.
False.
Two or more firms competing for differentiation may engage in price wars that drive profits to very low levels.
False.
When a scorecard is disseminated, strategy becomes a tool specifically for top management.
False.
n jobs with high complexity, it is not critical to have high "g".
False.
Communicate the purpose of the organization to stakeholders
First, mission and vision provide a vehicle for communicating an organization's purpose and values to all key stakeholders. Stakeholders are those key parties who have some influence over the organization or stake in its future.
innovative cultures
Flexible, adaptable, and experiment with new ideas
Qualitative Approach
Focuses on describing a phenomenon in a deep comprehensive manner. This is generally done in interviews, open-ended questions, or focus groups. In most cases, a small number of participants participate in this type of research, because to carry out such a research endeavor requires many resources and much time. Interviews can vary from being highly structured and guided by open-ended questions, or be less structured and take the form of a conversational interview. Because of the investment in this type of research and the relatively few number of participants, findings from qualitative research cannot be generalized to the whole population. However, such a research serves as a spring board for larger studies an deeper understanding that can inform theory, practice, and specific situations.
factors of culture
Founder's values, preferences, industry demands
The Balanced Scorecard
Framework designed to translate an organization's mission and vision statements and overall business strategy into specific, quantifiable goals and objectives and to monitor the organization's performance in terms of achieving these goals. Uses leading and lagging indicators
PESTEL (political, economic, sociocultural, technological, environmental, legal environments)
Framework directs you to collect information about and analyze each environmental dimension to identify the broad range of threats and opportunities facing the organization. Provides with a good sense of the broader macro-environment. Organization's competitive environment and key industry level factors that influence performance.
Contributed to Scientific efficiency and cost control
Fredrick Taylor
Sovereign Wealth Funds (SWFs)
Funds controlled by governments holding investment stakes in foreign companies.
Which of the following statements related to the unfreezing stage of planned change is INCORRECT?
Get everyone on board as soon as the change is initiated.
All of the following statements regarding performance evaluations are true EXCEPT:
Giving performance issues ultimately decreases morale
Which of the following is an internal factor influencing forecasting?
Global expansion plans
Open ended statement
Goal
A manager must understand the compatibility of individual and group performance with respect to:
Goals and incentives
A manager must understand the compatibility of individual and group performance with respect to:
Goals and incentives.
See how goals and objectives fit in the P-O-L-C framework.
Goals and objectives are an essential part of planning. They also have implications for all the aspects of organizing, leading, and controlling. Broadly speaking, goals and objectives serve to: Gauge and report performance Improve performance Align effort Manage accountabilities thus goals are typically set for the organization as a whole and set the stage for a hierarchy of increasingly specific and narrowly set goals and objectives.
See how goals and objectives are part of an effective employee performance evaluation process.
Goals and objectives are critical components of effective performance evaluations because evaluation forms need to have a set of measurable goals and objectives spelled out for each area. Some of these, such as attendance, are more easy to describe and quantify than others, such as knowledge. Research suggests that individual and organizational performance increase 16% when an evaluation system based on specific goals and objectives is implemented. Performance evaluation is a tool that helps managers align individual performance with organizational goals and objectives. You saw that the tool is most effective when evaluation includes well-developed goals and objectives that are developed with the needs of both the organization and employee in mind
In planning, how do strategy and goal/objectives work together?
Goals and objectives are indicators of how well a strategy is working.
What Are Goals and Objectives?
Goals are outcome statements that define what an organization is trying to accomplish. Goals are a reflection of major actions of the organization, and provide rallying points for managers. In contrast to goals, objectives are very precise, time-based, measurable actions that support the completion of a goal. Objectives typically must (1) be related directly to the goal; (2) be clear, concise, and understandable; (3) be stated in terms of results; (4) begin with an action verb; (5) specify a date for accomplishment; and (6) be measurable. For example, while Walmart may hold a 20% revenue growth goal, one specific objective to achieve that goal might be to "open 20 new stores in the next six months." Without specific objectives, the general goal cannot be accomplished.
Key Takeaway
Goals are typically outcome statements, while objectives are very precise, time-based, and measurable actions that support the completion of goals. Goals and objectives are an essential element in planning and are a key referent point in many aspects of organizing, leading, and controlling. Broadly speaking, within the P-O-L-C framework, goals and objectives serve to (1) gauge and report performance, (2) improve performance, (3) align effort and, (4) manage accountabilities.
Compliance
Going along with proposed changes with little enthusiasm
Good management requires:
Good leaders and leadership
Keynesian economic theory
Government policy of increasing spending could stimulate the economy in a recession
fiscal policy
Government policy that attempts to manage the economy by controlling taxing and spending. (government taxes and spending)
When a manager gives an employee the power to accomplish an assigned job or task that might include ordering supplies, spend money on behalf of the organization, or hiring and firing employees, the manager has to that employee.
Granted Authority
The ________ is a designation given to an informal method of communication within an organization. By launching news of pending changes, it can be used by the organization for its own benefit
Grapevine
Forming-Storming-Norming- Performing Model
Group behavior in a variety of settings, of group evolution. Forming Storming-Group members begin to explore their power and influence and they often stake out their territory by differentiating themselves from the other group members rather than seeking common ground. Norming-The stage in which participants find it easy to establish their own ground rules (or norms) and define their operating procedures and goals. Performing- The stage in which participants are not only getting the work done, but they also pay greater attention to how they are doing it. Adjourning-Groups end or restructure in an organization.
Define: Esprit De Corps
Harmony and Team Spirit across the organization builds morale and trust. (softball team, grow closer)
Contributed to administrative management, Created the 14 principles
Henri Fayol
Company structures which are hierarchical and decisions are made only by top managers represent:
High on power distance dimensions
Company structures which are hierarchical, and decisions are made only by top managers represent:
High on power distance dimensions
Company structures which are hierarchical and decisions are made only by top managers represent:
High on power distance dimensions.
Company structures which are hierarchical and decisions are made only by top managers represent:
High-on power distance dimensions
The following are all included in Proctor and Gamble's Code of Ethics EXCEPT:
Honesty
Corporate Social Responsibility (CSR)
How companies manage their business processes to produce an overall positive effect on society
Flexibility
How different the ideas are from one another. If decision makers are able to generate several unique solutions to a problem, they are high on flexibility
Conscientiousness is the one personality trait that uniformly predicts:
How highly performance oriented a person will be
Conscientiousness is the one personality trait that uniformly predicts:
How highly performance oriented a person will be.
Conscientiousness is one personality trait that uniformly predicts:
How highly performance-oriented a person will be
organizational structure
How individual and team work within an organization are coordinated.
False consensus error
How we as human beings overestimate how similar we are to other people.
false consensus error
How we overestimate how similar we are to other human beings.
Exit interviews are often conducted by:
Human resources representative
Exit interviews are often conducted by:
Human resources representative.
Managers are responsible for getting activities completed efficiently and achieving the firm's goals by utilizing:
Human, financial, and material resources
Managers are responsible for getting activities completed efficiently and achieving the firm's goals by utilizing:
Human, financial, and material resources.
What is a Visual learner?
If you notice that you retain more information by reading and seeing diagrams and flow charts, you may be a visual learner.
Corporate Social Responsibility (CSR) involves:
Improving society and the company's own interest
Divisional Structures
In organizations using divisional structures, departments represent the unique products, services, customers, or geographic locations the company is serving. Thus each unique product or service the company is producing will have its own department. Within each department, functions such as marketing, manufacturing, and other roles are replicated. In these structures, employees act like generalists as opposed to specialists. Instead of performing specialized tasks, employees will be in charge of performing many different tasks in the service of the product.
Financial performance
Includes assessments of measures such as operating costs and return-on-investment
corporate responsibility
Includes everything from hiring minority workers to making safe products, minimizing pollution, using energy wisely, and providing a safe work environment.
Top 5 Challenge Trends
Increasing Concern for the Environment Greater Personalization and Customization Faster Pace of Innovation Increasing Complexity Increasing Competition for Talent
Values statement
Increasingly, organizations also add a values statement that either reaffirms or states outright the organization's values that might not be evident in the mission or vision statements.
Organizational citizenship behaviors can be understood as:
Individual behaviors that are beneficial to the organization and not recognized by the formal reward system.
Define: In Role Performance
Individual-level performance draws upon those things you have to do in your job, or in-role performance,
5 dimensions of National Culture
Individualism vs. collectivism Power Distance Achievement Oriented Uncertainty Avoidance Long term orientation
Stakeholders
Individuals and organizations who are actively involved in the organization, or whose interests maybe positively or negatively affected as a result of what the organization does.
Managers
Individuals in an organization who direct the activities of others
What is a group created by the members themselves to accomplish goals that may or may not be relevant to an organization?
Informal Group
An organization is a formal structure consisting of interrelated positions. What is the name given to a group created within that organization to accomplish goals that may or may not be relevant to the organization?
Informal group
KPMG's 2008 Report on U.S. Firm CSR practices found the top drivers for CSR include which of the following?
Innovation and Learning
KPMG's 2008 Report on U.S. Firm CSR practices found the top drivers for CSR include which of the following?
Innovation and learning.
insider training
Insiders using private company information to further their own fortunes or those of their family and friends.
Institutional Collectivism
Institutional collectivism refers to the extent to which people act predominantly as a member of a lifelong group or organization
What are the differences between Intended and Realized strategy?
Intended strategy is strategy as conceived by the top management team. Even here, rationality is limited and the intended strategy is the result of a process of negotiation, bargaining, and compromise, involving many individuals and groups within the organization. However, realized strategy—the actual strategy that is implemented—is only partly related to that which was intended (Mintzberg suggests only 10%-30% of intended strategies actually become a reality).
Rather than actual behaviors, attitudes are more strongly related to:
Intentions
Rather than to actual behaviors, attitudes are more strongly related to:
Intentions
Group decision support systems (GDSS)
Interactive computer based systems that are able to combine communication and decision technologies to help groups make better decisions. Improves the output of group collaborative work through higher information sharing.
Define: Subordination of individual interest
Interests of one person should never take precedence over what is best for the company.
tactical planning
Intermediate range planning that is designed to develop relatively concrete and specific means to implement the strategic plan.
tactical planning
Intermediate-range planning that is designed to develop relatively concrete and specific means to implement the strategic plan.
Internal Analysis
Internal Analysis By exploiting internal resources and capabilities and meeting the demanding standards of global competition, firms create value for customers. Value is measured by a product's performance characteristics and by its attributes for which customers are willing to pay. Those particular bundles of resources and capabilities that provide unique advantages to the firm are considered core competencies.
What are two tools for internal analysis? Describe them:
Internal Analysis Tools Internal analysis tools help identify an organization's strengths and weaknesses. Two tools for internal analysis are the value chain and VRIO tools. The value chain dissects the organization and then identifies areas of unique strength or weakness. Value chain functions are also called capabilities. VRIO—which stands for Value, Rarity, Imitability, and Organization—is a framework that suggests that a capability, or a resource, such as a patent or a desirable location, is likely to yield a competitive advantage to an organization when it can be shown that it is valuable, rare, difficult to imitate, and supported by the organization
SCAMPER
Is a checklist tool that helps you to think of changes you can make to an existing marketplace to create a new one: a new product, a new service, or both.
Employee Engagement
Is a concept that is generally viewed as managing discretionary effort; when employees have choices, they will act in a way that furthers their organization's interests. An engaged employee is fully involved in, and enthusiastic about their work.
POLC
Is a framework in business that has 4 components: P-O-L-C Planning a)Vision and mission b)Strategizing c)Goals and objectives Organizing a)Organization design b)culture c)social networks Leading a)Leadership b)Decision making c)communication d)Groups/Teams e)Motivation Controlling a)Systems/Processes b)Strategic Human Resources
Leader-Member Exchange Theory (LMX)
Is a theory that proposes that the type of relationship leaders have with their followers is the key to understanding how leaders influence employees.
The term social movement refers to a type of group that:
Is focused on specific political or social issues
The term social movement refers to a type of group that:
Is focused on specific political or social issues.
Creativity
Is the power or ability to invent. Creativity in business is the essence of innovation and progress.
Strategy Implementation
Is the translation of chosen strategy into organizational action so as to achieve strategic goals and objectives.Manner in which an organizational should develop utilize, and amalgamate organizational structure, control systems, and culture to follow strategies that lead to competitive advantage and better performance.
Sales or revenue
Is where the retail price of the product is expressed in terms of dollars times the number of units sold. This can be product units or service units. Sales can be expressed in one category as total sales or can be broken out into more than one type of sales category.
OhmyNews is a popular newspaper that:
Is written by 60,000 citizen reporters
OhmyNews is a popular newspaper that:
Is written by 60,000 citizen reporters.
Some companies maintain a physical presence on Facebook because:
It allows consumers to chime in about their passions
Some companies maintain a physical presence on Facebook because:
It allows consumers to chime in about their passions.
Organizational structure is a valuable tool in achieving coordination, it specifies reporting relationships, it delineates formal communication channels, it describes how separate actions of individuals are linked together EXCEPT:
It doesn't determine performance reward systems
Straddling strategies as an approach to strategic management is not recommended for which reason:
It is an indication that the firm's managers have not made necessary choices about the business and its strategy
Virtual companies present special leadership challenges because:
It's essential for leaders to keep people informed of what they are supposed to be doing and what other arms of the organization are doing.
A stakeholder group composed of the CEO and members of the top management team is considered an important stakeholder group for all of the following reasons EXCEPT:
It's power and influence in the organization
A stakeholder group composed of the CEO and members of the top management team is considered an important stakeholder group for all of the following reasons EXCEPT:
Its power and influence in the organization
A stakeholder group composed of the CEO and members of the top management team is considered an important stakeholder group for all of the following reasons EXCEPT:
Its power and influence in the organization.
Safty, informed, choose, to be heard
JFK basics rights to customers
When employers are concerned that their employees may become bored with performing the same tasks repetitively, they use ______________ to systematically shift employees to other jobs to give them opportunities to perform new tasks.
Job Rotation
What is the name given to the assignment of distinct tasks within an organization to different people so each person become extremely proficient at performing that single task?
Job Specilization
_____ is a formal system developed to determine what tasks people actually perform in their jobs.
Job analysis
Job Performance
Job performance refers to the degree to which an employee successfully fulfills the factors included in the job description.
Feelings people have about their current job
Job satisfaction
At work, two job attitudes that have the greatest potential to influence how we behave are:
Job satisfaction and job commitment
At work, two job attitudes that have the greatest potential to influence how we behave are:
Job satisfaction and organizational commitment.
Job Satisfaction
Job satisfaction refers to the feelings people have toward their job. If the number of studies conducted on job satisfaction is an indicator, job satisfaction is probably the most important job attitude.
Understand the evolution of performance measurement systems.
KEY TAKEAWAY The way that goals and objectives are managed in the P-O-L-C process has evolved over time. While organizations can have very simple performance measurement systems, these systems typically track multiple goals and objectives. The management by objectives (MBO) approach is perhaps one of the earliest systematic approaches to working with goals and objectives. The Balanced Scorecard is aimed at tying goals and objectives to vision, mission, and strategy by branching out beyond purely financial goals and objectives.
Personal Netoworks
Kindred spirits outside your organization who can help you with personal advancement. Exchange important referrals and needed outside information; develop professional skills through coaching and mentoring.
Examples of business strategy include all the following EXCEPT:
Know the business needs to compete in order to be effective
Examples of business strategy include all the following EXCEPT:
Know the business needs to compete in order to be effective.
Working with people from different countries can be a challenge because of:
Language issues and different cultural norms
Working with people from different countries can be a challenge because of
Language issues and different cultural norms.
Reward system at Nucor
Large percentage based on performance
Lateral Thinking
Lateral thinking is a term coined by Edward DeBono in his book The Use of Lateral Thinking (1967), and it refers to changing patterns and perceptions; it is about ideas that may not be obtainable by using only traditional, step-by-step, programmed logic. [4] Lateral thinking draws on the right side of our brains.
Leadership
Leadership is defined as the social and informal sources of influence that you use to inspire action taken by others. Leadership involves actions taken to mobilize others to want to work toward a common goal.
The principles of management are drawn from a number of academic fields, principally the fields of:
Leadership, entrepreneurship, and strategy.
Motivating employees is a managerial function of:
Leading
The communication step of the mission and vision statements development process is analogous to which step in the principles of management framework:
Leading
The communication step of the mission and vision statements development process is analogous to which steps in the principles of management framework:
Leading
leading
Leading involves influencing others toward the attainment of organizational objectives. Leading and leadership are nearly synonymous with the notions of mission and vision. We might describe a very purposeful person as being "on a mission."
Motivating employees is a managerial function of:
Leading.
The communication step of the mission and vision statements development process is analogous to which step in the principles of management framework:
Leading.
Define: Auditory Learner
Learn by listening to others, such as in lectures, conversations, and videos
Learning From Others
Learning from others. Recognizing that good ideas come from anywhere, not just inside the company, learning organizations network with other companies in a continual search for good ideas to adapt and adopt.
Learning from past experience
Learning from past experience. It's essential for companies to review projects and products to learn what worked and what didn't. Boeing, for example, systematically gathered hundreds of "lessons learned" from previous airplane models, such as the 737 and 747, which it applied to the 757s and 767s, making those the most successful, error-free launches in Boeing's history.
Active management by exception
Leaving employees then coming to the rescue if anything goes wrong. Leaving employees to do their job without interference but proactively predicting potential problems and preventing them from occurring.
Most common appraisal error
Leniency, and managers often realize they are committing this error
A firm's tangible resource includes which of the following?
a. Knowledge b. Capacity for innovation c. Organizational routines d. Production equipment D
Superiority in competitive advantage refers to all of the following factors EXCEPT:
a. Low cost b. Customer service c. Product quality d. Unique style A
The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and earn above-average returns includes all of the following EXCEPT:
a. Low entry barriers b. Supplier and buyers with strong bargaining positions c. Strong competitive threats from product substitutes d. Relatively moderate rivalry D
Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns includes which of the following?
a. Low entry barriers b. Suppliers and buyers with little bargaining power c. Strong competitive threats from product substitutes d. Moderate to high rivalry B
Companies may deal with work/balance reasons for absences by giving employees all of the following EXCEPT:
a. More flexibility in work hours b. More training programs to improve time management Correct c. Getting rid of sick leave altogether d. Have a singe paid time off policy Feedback
The four categories of stakeholders of a firm are: Select one: a. Organizational, capital market, product market and social b. Organizational capital market, employee market and environmental market c. Capital market, product market, employee market and social market d. Product market, social market, employee market and environmental market
a. Organizational, capital market, product market and social
A mission statement serves an important function for organizations as part of the POLC function: Select one: a. Planning b. Organizing c. Leading d. Controlling
a. Planning
Mission and vision development are analogous to which step in the principles of management framework: Select one: a. Planning b. Organizing c. Leading d. Controlling
a. Planning
Strategy formulation is an essential component of the POLC framework: Select one: a. Planning b. Organizing c. Leading d. Controlling
a. Planning
Strategy formulation is an essential component of the POLC framework:
a. Planning b. Organizing c. Leading d. Controlling A
Strategy formulation is an essential component of the POLC framework:
a. Planning Correct b. Organizing c. Leading d. Controlling
The intensity of industry competition and an industry's profit potential are a function of which of the following forces of competition?
a. Power of stockholders b. Power or employees c. Gobal economic conditions d. Threats posed by new entrants D
According to the principles of visionary leadership, the essentials for successful revolution include all EXCEPT: Select one: a. Physical systems b. Cultural systems c. Organizational systems d. Behavioral systems
b. Cultural systems
Why are employees today in the transportation and shipping industry required to know advanced math? Select one: a. They're called upon to do mathematical models of networks b. They're called upon to figure out warehousing c. They're called upon to deliver products to other countries d. They're no longer called knuckle-dragging box pushers
a. They're called upon to do mathematical models of networks
The purpose of diversification is:
a. To capture more consumers b. To satisfy the mission and vision c. To build a portfolio of businesses much like a portfolio of stock d. To spread out risk and opportunities over a larger set of businesses D
Firms with clearly communicated, widely understood and collectively shared mission and vision have been shown:
a. To create and advance technology b. Embrace diversity c. Perform better than those without them Correct d. Employ a smarter workforce Feedback
How we perceive others will shape our behavior, which in turn: Select one: a. Will shape the behavior of the person we are interacting with b. Will lead to undue success or failure c. May lead to wrong inferences about objects in our environment d. Will lead to generalizations
a. Will shape the behavior of the person we are interacting with
A general manager is someone who is responsible for managing: Select one: a. an identifiable revenue-producing unit. b. a sub-group of a particular function or team comprised of members from different parts of the organization. c. a function that creates indirect inputs, such as finance and accounting. d. an area such as accounting and marketing.
a. an identifiable revenue-producing unit.
Organizational design decisions are made about: Select one: a. the structure of an organization. b. the strategies of an organization. c. the environment of an organization. d. the various roles in an organization.
a. the structure of an organization
The most negative reaction to a proposed change attempt is
active resistance.
An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The task presents a challenge to the engineering skills of the organization. The fact that the task presents a challenge to the organization reflects the _____ dimension of a goal.
aggressive
Capitalism
all or most of the land, factories, and stores are owned by individuals, not the government, and operated for profit. the US, England, Australia and Canada use this
Communism
an economic an political system where the government makes almost all the decisions and owns all of the major factors of production
Socialism
an economic system basses on the premise that some basic businesses (utilities) should be owned by the government in order to more evenly distribute profits to the people
Database
an electronic storage file for information
A general manager is someone who is responsible for managing:
an identifiable revenue-producing unit.
manager
an individual who achieves goals through other people
nonprofit organization
an organization who's goals do not include making a personal profit for its owners or organizers
Capabilities
an organization's skills and abilities in doing the work activities needed in its business
Strategic Planning
analysing competitive opportunities as well as strengths and weaknesses of the organization and positioning the organization to compete effectively
buisness
any activity that seeks to provide goods and services to others while operating at a profit
business
any activity that seeks to provide goods and services to others while operating at a profit
Self enhancement bias
any people suffer from self-enhancement bias, in which individuals tend to overestimate performance and capabilities and see themselves in a more positive light than do others.
team-oriented cultures
are collaborative and emphasize cooperation among employees
Principles of Management Definition
are the activities that "plan, organize, and control the operations of the basic elements of [people], materials, machines, methods, money and markets, providing direction and coordination, and giving leadership to human efforts, so as to achieve the sought objectives of the enterprise.
Which of the following is NOT a stage of Lewin's model of planned change?
assess
Three Levels of Organizational Culture
assumptions, values, artifacts
Ethnocentricity
attitude that your own culture is superior to other cultures
5 Forces
The likelihood of new entry is a function of the extent to which barriers to entry exist. Evidence suggests that companies often find it difficult to identify new competitors. Identifying new entrants is important because they can threaten the market share of existing competitors. The stronger the power of buyers in an industry, the more likely it is that they will be able to force down prices and reduce the profits of firms that provide the product. Firms seek to maximize the return on their invested capital. The stronger the power of suppliers in an industry, the more difficult it is for firms within that sector to make a profit because suppliers can determine the terms and conditions on which business is conducted. This measures the ease with which buyers can switch to another product that does the same thing, such as using aluminum cans rather than glass or plastic bottles to package a beverage. The ease of switching depends on what costs would be involved (e.g., while it may be easy to sell Coke or Pepsi in bottles or cans, transferring all your data to a new database system and retraining staff could be expensive) and how similar customers perceive the alternatives to be. This measures the degree of competition between existing firms. The higher the degree of rivalry, the more difficult it is for existing firms to generate high profits. The most prominent factors that experience shows to affect the intensity of firms' rivalries are (1) numerous competitors, (2) slow industry growth, (3) high fixed costs, (4) lack of differentiation, (5) high strategic stakes and (6) high exit barriers.
Define: Line of Authority
The line of authority goes from the top of management to the lowest level employees.
Financial control
The management of a firm's costs and expenses to control them in relation to budgeted amounts.
Organizational design
The matching of organizational forms such as structure, reporting relationships, and information technology, with the organization's strategy
Principles of Management
The means by which you actually manage, that is, get things done through others
Strategy Implementation
The methods by which strategies are operationalized or executed within the organization; it focuses on the process through which strategies are achieved.
Active resistance
The most negative reaction to a proposed change attempt
Organizational change
The movement of an organization from one state of affairs to another
Diversification
The number of different businesses that an organization is engaged in and the extent to which these businesses are related to one another. There are three major diversification strategies: 1.Concentric diversification- where the new business produces products that are technically similar to the company's current product but that appeal to a new consumer group 2.Horizontal diversification- where the new business produces products that are totally unrelated to the company's current product but that appeal to the same consumer group. 3. Conglomerate diversification- where the new business produces products that are totally unrelated to the company's current product and that appeal to an entirely new consumer group.
Hindsight bias
The opposite of overconfidence bias as it occurs, when a person looking at the past, judges that a mistake that was made should have been recognized as a mistake at the time.
The Nature vs. Nurture debate is focused on:
The origin of personality
Organizational control
The process by which an organization influences its subunits and members to behave in ways that lead that lead to the attainment of organizational goals and objectives.
Strategic control
The process by which an organization tracks the strategy as it is being implemented, detecting any problem areas or potential problem areas that might suggest that the strategy is incorrect, and making any necessary adjustments
Strategic Planning
The process of analyzing competitive opportunities and threats, as well as the strengths and weaknesses of the organization, and then determining how to position the organization to compete effectively in its environment.
Strategy Formulation
The process of developing the the strategy. there are two processes that are continually performed throughout strategy formulation: environmental scanning and implementation. The following strategy formulation must be taken in order: 1. Vision and mission formulation (core ideology and envisioned future-it is the force that binds the organization together and consists or "core values" and "core purpose". 3.Strategy design involves four elements: Indentify the LOBs (major lines of your organization's business or activities. Critical success indicators (CSIs) are a way to measure progress towards the organization's mission. Indicators include: target deadline,return on investment, profit margins, customer loyalty and employee retention. Finally, you will need to figure out what type of organizational culture must be developed to achieve the organization's goals. 4.Performance audit analysis, which is a close look at the company's "strengths", "weaknesses", external "opportunities" and "threats(SWOT analysis)
Empowerment Definition
The process of enabling or authorizing an individual to think, behave, take action, and control work and decision making in autonomous ways.
Empowerment
The process of enabling or authorizing an individual to think, take action, and control work and decision making in autonomous ways
Job design
The process of putting together various elements to for my job, bearing in mind organizational and individual work requirements
Onboarding (aka Organizational socialization process)
The process through which new employees learn the attitudes, knowledge, skills and behaviors required to function effectively within an organization.
Onboarding
The process through which new employees learn the attitudes, knowledge, skills, and behaviors required to function effectively within an organization.
Psychological Contract
The psychological contract is the unspoken, informal understanding that an employee will contribute certain things to the organization (e.g., work ability and a willing attitude) and will receive certain things in return (e.g., reasonable pay and benefits).
Self-actualization
The quality of "becoming all you are capable of becoming".
Quantitative Approach
The quantitative approach to gathering information focuses on describing a phenomenon across a larger number or participants thereby providing the possibility of summarizing characteristics across groups or relationships. This approach surveys a larger number of individuals and applies statistical techniques to recognize overall patterns in the relations of processes. Importantly, the use of surveys can be done across groups. For example, the same survey can be used with a group of mentors that is receiving training(often called the intervention or experimental groups) and a group of mentors who does not receive such a training (control group). It is then possible to compare these two groups on outcomes of interest, and determine what influence the training had. It is also relatively easy to survey people a number of times, thereby allowing the conclusion that a certain features (like matching) influence specific outcomes (well-being or achievement later in life).
Stakeholder Analysis
The range of techniques or tools used to identify and to understand the needs and expectations of major interests inside and outside the organization environment. It also enables organizations to better formulate, implement, and monitor their strategies, and this is why stakeholder analysis is a critical factor in the ultimate implementation of a strategy.
Entrepreneurship
The recognition of opportunities (needs, wants, problems, and challenges) and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures.
VRIO Framework
The resource-based framework that focuses on the value (V), rarity (R), imitability (I), and organizational (O) aspects of resources and capabilities.
Social capital
The resources available in and through personal and business networks
The performance plan will include a section that identifies all of the following EXCEPT:
The reward or promotion objectives.
Imagination
The second type of creativity, imagination, is characterized by new ideas and breakthroughs: Apple's stylish design of Macintosh computers and then game-changing breakthroughs with its iPod and iPhone are examples of this type of creativity.
Corporate Strategy
The set of strategic alternatives that an organization chooses from as it manages its operations simultaneously across several industries and several markets.
The values and assumptions that shape the organization influence how employees interact, Employee beliefs and perceptions regarding what is right and appropriate behavior, the choices employees make EXCEPT:
The stakeholders involved in the organization
The values and assumptions that shape the organization's culture can be uncovered by observing all of the following EXCEPT:
The stakeholders involved in the organization.
Economics
The study of how society employs resources to produce goods and services for consumption among various groups and individuals.
national debt
The sum of government deficits over time.
Anchoring
The tendency for individuals to rely too heavily on a single piece of information.
Social Loafing
The tendency of individuals to put in less effort when working in a group context.
Social loafing
The tendency of individuals to put in less effort when working in a group context.
Framing bias
The tendency of the decision makers to be influenced by the way that a situation or problem is presented.
Self-enhancement bias
The tendency to overestimate our performance and capabilities and to see ourselves in a more positive light than others see us.
Self-effacement bias
The tendency to underestimate our performance, capabilities, and see events in a way that puts ourselves in a more negative light.
Punctuated equilibrium
The theory that change within groups occurs in rapid, radical spurts rather than gradually over time.
Gauge-Discover-Reflect
The three essential components are (1) gauge—take stock of your knowledge and capabilities about a topic; (2) discover—learn enough about a topic so that you can set specific development goals that you can apply and practice, and later gauge again your progress toward your set goals; and (3) reflect—step back and look at the ways you have achieved your goals, take the opportunity to set new ones, and chronicle this experience and thought process in a daily journal.
Which of the following is used by executives when mapping out the vertical linkages in an organizational structure?
The unity of command principle
Artifacts
The visible and tangible elements of culture
How are shareholders affected by a firm's strategies?
Their wealth increases or decreases with firm's actions
How are shareholders affected by a firm's strategies?
Their wealth increases or decreases with the firm's actions.
path-goal theory of leadership
Theory stating that a leader's main job is to motivate employees with the belief that (1) their effort will lead to high performance(2)their high performance will be rewarded (3)the rewards they will receive are valuable to them.
Networking
There are three types of networks that make managers successful that can provide support, feedback and resources to get things done.
Two Aspects of Strategizing
There are two aspects of strategizing for most organizations. The first, corporate strategy, answers strategy questions related to "What business or businesses should we be in?" and "How does our business X help us compete in business Y, and vice versa?" Corporate strategy considers an organization to be a portfolio of businesses, resources, capabilities, or activities. The logic behind corporate strategy involves the concepts of synergy and diversification. Synergy exists when the interaction of two or more activities, such as those in a business, create a combined effect greater than the sum of their individual effects.
Two Types of Diversification
There are two major diversification types. Related diversification occurs when a firm operates multiple businesses within the same industry. For example, Estée Lauder engages in multiple cosmetics-related businesses. In contrast, unrelated diversification occurs when a firm engages in businesses in different industries that lack similarities between each other.
Why are employees today in the transportation and shipping industry required to know advanced math?
They are called upon to do mathematical models of networks
Which of the following is true about horizontal linkages?
They are of great importance when close coordination is needed across different segments of an organization.
Which of the following best describes informal linkages?
They refer to unofficial relationships such as personal friendships, rivalries, and politics.
Which of the following statements about functional structures is accurate?
They tend to create highly-skilled specialists.
Which of the following best describes vertical linkages?
They tie supervisors and subordinates together.
Which of the following statements about matrix structures is accurate?
They violate the unity of command principle.
Why are employees today in the transportation and shipping industry required to know advanced math?
They're called upon to do mathematical models of networks
Why are employees today in the transportation and shipping industry required to know advanced math?
They're called upon to do mathematical models of networks.
Programmed thinking
Thinking that relies on logical or structured ways of creating a new product or service (often called left-brained thinking)
develop the measurable goals and objectives by which to gauge the success of the organization's strategy.
Third, mission and vision provide a high-level guide, and the strategy provides a specific guide, to the goals and objectives showing success or failure of the strategy and satisfaction of the larger set of objectives stated in the mission.
Transactional leaders
Those leaders who ensure that employees demonstrate the right behaviors because the leader provides resources in exchange.
transformational leaders
Those leaders who lead employees by aligning employee goals with the leaders goals.
participative leaders
Those leaders who make sure that employees involved in making important decisions
Supportive leaders
Those leaders who provide emotional support to employees.
Directive leaders
Those leaders who provide specific directions to their employees.
achievement-oriented leaders
Those leaders who set goals for employees and encourage them to reach their goals.
Organic structures
Those structures that are flexible and decentralized with low levels of formalization where communication lines are more fluid and flexible
Mechanistic structures
Those structures that resemble a bureaucracy and are highly formalized and centralized
Define: Extra-role Performance or Organizational Citizenship behaviors
Those things that add value but are not part of a formal job description. These "extras" are called extra-role performance, or organizational citizenship behaviors (OCBs).
Formal leaders
Those who hold a position of authority and may utilize the power that comes from their position, as well as their personal power to influence others.
Informal leaders
Those without a formal position of authority within the organization but demonstrate leadership by influencing those around them through personal forms of power.
The intensity of industry competition and an industry's profit potential are a function of the following forces of competition?
Threats posed by new entrants
The intensity of industry competition and an industry's profit potential are a function of which of the following forces of competition?
Threats posed by new entrants
The intensity of industry competition and industries profit potential or a function of which of the following forces of competition?
Threats posed by new entrants
The intensity of industry competition and an industry's profit potential are a function of which of the following forces of competition?
Threats posed by new entrants.
Strategy as Trade-Offs
Three of the most widely read books on competitive analysis in the 1980s were Michael Porter's Competitive Strategy, Competitive Advantage, and Competitive Advantage of Nations. [2] In his various books, Porter developed three generic strategies that, he argues, can be used singly or in combination to create a defendable position and to outperform competitors, whether they are within an industry or across nations. The strategies are (1) overall cost leadership, (2) differentiation, and (3) focus on a particular market niche.
The Gilbreths are most famous for:
Time and motion studies
The Gilbreths or most famous for:
Time and motion studies
The Gilbreths are most famous for:
Time and motion studies.
Fredrick Taylor is most famous for
Time studies
The purpose of assembling a team is:
To accomplish bigger goals than any that would be possible for the individual working alone
The purpose of assembling a team is:
To accomplish bigger goals than any that would be possible for the individual working alone.
The purpose of assembling a team is:
To accomplish bigger goals that would not be possible for the individual working alone.
Realistic
To be realistic, an objective must represent an objective toward which you are both willing and able to work. An objective can be both high and realistic; you are the only one who can decide just how high your objective should be. But be sure that every objective represents substantial progress. A high objective is frequently easier to reach than a low one because a low objective exerts low motivational force. Some of the hardest jobs you ever accomplished actually seem easy simply because they were a labor of love.
Human resources management alignment means:
To integrate decisions about people with decisions about the results of an organization
Human resources management alignment means:
To integrate decisions about people with decisions about the results of an organization.
Firms with clearly communicated, widely understood, and collectively shared mission and vision has been shown:
To perform better than those without them
What is a managers primary challenge?
To solve problems creatively
The purpose of diversification is:
To spread out risk and opportunities over a larger set of businesses
One key stakeholder group comprises the CEO and the members of the top-management team. These are key managers, and they might be owners as well. This group is important for at least three reasons:
Top managers influence as either originator or steward of the organization's mission and vision. Top managers are responsible for formulating a strategy that realizes the mission and vision. Top managers play a key role in strategy implementation.
Transferring Knowledge
Transferring knowledge. Sharing knowledge quickly throughout the organization is the way to make everyone a smart, contributing member.
Define: Productivity through People
Treating rank-and-file employees as a source of quality.
A functional structure tends to create highly-skilled specialists.
True
A risk-averse individual is generally a poor fit for a high-tech firm in a dynamic environment.
True
A well-formulated vision that is embraced by employees can give an organization an edge over its rivals.
True
By the end of 2008, 60% of the world's population was using mobile phones.
True
Competition among employers and countries for the best and brightest puts pressure on firms to invest in present and future leadership capabilities.
True
Consciously creating an environment where passion is both encouraged and developed starts at the top through the communication of mission and vision.
True
Consciously creating an environment where passion is both encouraged and developed starts at the top through the communication of mission and vision. Select one: True False
True
Cost leadership is a low-cost, broad-based market strategy
True
Countries where uncertainty avoidance is high are Brazil and Switzerland
True
Countries where uncertainty avoidance is high are Brazil and Switzerland.
True
Countries with low institutional collectivism emphasize individual achievement and rewards.
True
Creating a structure that effectively coordinates a firm's activities increases the firm's likelihood of being successful.
True
Culture and reputation costs are intangible costs associated with any form of control.
True
Customers, employees, and investors are the stakeholders most often emphasized in the mission statements. Select one: True False
True
Division of labor can improve efficiency.
True
Early views of management were heavily oriented toward efficiency, at the expense of attention to the manager-as-leader.
True
Economic performance of a firm is a function of its success in producing benefits for its owners in particular, accomplished through product innovation and the efficient use of resources to produce some form of profit.
True
Effective controlling techniques are budget and performance audits.
True
Employees' behavior may be more strongly affected by what is expected of them, as opposed to how they want to behave or their personalities. (True or False) يتأثر سلوك الموظفين بشدة بما هو متوقع او مطلوب منهم ، على عكس الطريقة التي يريدون التصرف بها أو على عكس شخصياتهم.
True
Employers are either a manager or a subordinate to a manager, and usually, they are both (True or False)
True
Everyone employed in an organization is affected by management principles (True or False)
True
Financial outcomes are often short-term in nature, so they omit other key factors that might be very important to the longer-term viability of the organization.
True
Functional areas, like accounting and marketing, will need to have goals and objectives that help show how those functions are contributing to the organization's goals and objectives.
True
Gilbreth photographed the motion of workers to improve productivity in performing a job.
True
Global trends affect both the style and the substance of management.
True
Goals and objectives provide a form of control since they create a feedback opportunity regarding how well or how poorly the organization is executing its strategy.
True
Good vision statements need to create some dissonance with the status quo of an organization.
True
Good vision statements need to create some dissonance with the status quo of an organization. Select one: True False
True
Horizontal linkages are relationships between equals in an organization.
True
In MBO systems, goals and objectives are written down for each level of the organization.
True
In decentralized companies, decisions are made and problems are solved at lower levels by employees who are closer to the problem in question.
True
In some countries, it is considered rude to say "no".
True
Independent consultants are managers since they get most things done through others—those others just happen to be their clients (True or False)
True
Industry characteristics and demands act as a force to create similarities among organizational cultures.
True
Informal linkages do not appear in organizational charts.
True
Job attitudes are more related to citizenship behavior than they are to job performance.
True
Kaplan and Norton's Balanced Scorecard, Accenture's Performance Prism, and Skandia's Intellectual Capital Navigator are examples of boilerplate versions of financial measurement.
True
Lateral thinking can generate completely new concepts and ideas, and brilliant improvements to existing systems.
True
Lateral thinking can generate completely new concepts and ideas, and brilliant improvements to existing systems. Select one: True False
True
Leaders of an organization set the moral tone of the organization.
True
Management is both art and science (True or False)
True
Managers do not spend all their time managing (True or False)
True
Matrix structures rely heavily on horizontal relationships.
True
Mission and vision play a prominent role in the planning facet of the P-O-L-C framework.
True
Mission and vision play a prominent role in the planning facet of the P-O-L-C framework. Select one: True False
True
Multidivisional structures tend to be more costly to operate than functional structures.
True
One approach to focusing is to service either industrial buyers or consumers, but not both.
True
One of the key litmus tests for the setting of goals, objectives, and measures is whether or not they are linked in some way to the key factors driving an organization's success or competitive advantage.
True
Organizational change can be either radical or incremental.
True
Organizational culture will act as a self-defending organism where intrusive elements are kept out.
True
Person/job fit and person/organization fit are positively related to job satisfaction.
True
Planning is the function of management that involves setting objectives and determining a course of action for achieving these objectives.
True
Recruitment is defined as a process that provides the organization with a pool of qualified candidates.
True
Research indicates that flat organizations provide greater need satisfaction for employees, and greater levels of self actualization
True
Research indicates that flat organizations provide greater need satisfaction for employees, and greater levels of self-actualization.
True
Setting organizational goals that are easy to reach encourages employees to work just hard enough to reach the goals.
True
Sportsmanship is a common theme of organizational citizenship behavior.
True
Strategic decision making in a simple structure tends to be highly centralized.
True
Strategy formulation is essentially the aim of the organizing, leading, and controlling components of the POLC framework.
True
Strategy is a pattern of resource allocation choices and organizational arrangements that result from managerial decision making.
True
Surveys indicate that resistance to change is one of the top two reasons why change efforts within organizations fail.
True
T or F Cost leadership is a low-cost, broad-based market strategy.
True
T or F One approach to focusing is to service either industrial buyers or consumers, but not both.
True
T or F Strategy is a pattern of resource allocation choices and organizational arrangements that result from managerial decision making.
True
T/F 5 dimensions of national culture is a framework created by Geert Hofstede.
True
T/F A cost-focus strategy is a low-cost, narrowly focused market strategy
True
T/F A firm that possesses a valuable and rare resource will not gain a competitive advantage unless it can actually put that resource to effective use.
True
T/F Customers, employees, and investors are the stakeholders most often emphasized in the mission statement.
True
T/F Job attitudes are more related to citizenship behaviors than they are to job performance.
True
T/F Leaders of an organization set the moral tone of the organization.
True
T/F Managers develop mission and vision statements not only to clarify the organization's larger purpose, but also to meet or exceed the needs of its fey stakeholders.
True
T/F Managing Diversity is a major challenge facing organizations today.
True
T/F Mission and vision communicates the organization's values and purpose.
True
T/F One approach to focusing is to service either industrial buyers or consumers, but not both.
True
T/F Planning is a function of management that involves setting objectives and determining a course of action for achieving these objectives.
True
T/F Reducing waste and pollution is a key indicator of performance.
True
T/F To be effective at leading, managers must first understand their employees' personalities, values, attitudes, and emotions.
True
Tactical planning in an organization is usually an intermediate-range plan designed to develop specific means to implement the strategic plan.
True
The ability to work in groups is an example of a candidate's competence.
True
The best strategies, corporate and business, are based on a thorough SWOT analysis.
True
The degree to which a stakeholder is affected by a firm's decisions is sometimes correlated with their power and influence over the decision.
True
The degree to which a stakeholder is affected by a firm's decisions is sometimes correlated with their power and influence over the decision. Select one: True False
True
The larger the organization, the more managers are needed (True or False)
True
The line manager often called a product, or service manager (True or False)
True
The manager should be directed and controlled by the objectives of performance rather than by his/her boss.
True
The most effective goals are those that are specific, measurable, aggressive, realistic, and time-bound.
True
The step of employee orientation, if conducted efficiently, can help reduce turnover rates.
True
The use of online social networking principles can open the door to outside collaborations.
True
The way that the firm is organized can affect goals and objectives in a number of ways.
True
Those employees who feel they can perform well under a new system will be more committed to change.
True
Triple bottom line refers to the measurement of business performance along economic, social, and organizational dimensions.
True
True or False: An observer may find out about a company's culture by examining its rules and policies.
True
True or False: Companies with detail-oriented culture give a competitive advantage to companies in the hospitality industry by helping them differentiate themselves from others.
True
True or False: Identifying a set of values that might be used to describe an organization's culture helps us identify, measure, and manage culture more efficiently.
True
True or False: Industry characteristics and demands act as a force to create similarities among organizational cultures.
True
True or False: Leaders are instrumental in creating and changing an organization's culture.
True
True or False: Organizational culture will act as a self-defending organism where intrusive elements are kept out:
True
True or False: Starbucks is an example of a people-oriented culture
True
True or false: Cost leadership is a low-cost, broad based market strategy.
True
True or false: In MBO systems, goals and objectives are written down for each level of the organization.
True
True or false: In a matrix structure, product managers have control and say over product-related matters, while department managers have authority over matters related to company policy
True
True or false: In an example of a matrix structure at a software development company, business analyst, developers, and testers each report to a functional department manager and to a project manager simultaneously
True
True or false: In decentralized companies, decisions are made and problems are solved at lower levels by employees who are closer to the problem in question
True
True or false: Kaplan and Norton's Balanced Scorecard, Accenture's Performance Prism, and Skandia's Capital Navigator are examples of boilerplate versions of financial measurement
True
True or false: Mechanistic structures limit individual autonomy and self determination which will likely lead to lower levels of intrinsic motivation on the job
True
True or false: One approach to focusing is to service either industrial buyers or consumers, but not both
True
True or false: Research indicates that flat organizations provide greater need satisfaction for employees, and greater levels of self actualization
True
True or false: Some employees are more comfortable in a centralized organization where their manager confidently gives instructions and makes decisions
True
True or false: The best strategies, corporate and business, or based on a thorough SWOT analysis
True
True or false: When a company has a diverse product line, each product will have unique demand, deeming divisional structure is more useful
True
True or false: by the end of 2008, 60% of the world's s population was using mobile phones.
True
True or false: competition among employers and countries for the best and brightest puts pressure on farms to invest in present and future leadership capabilities
True
True or false: consciously creating an environment where passion is both encouraged and developed starts at the top to the communication of mission and vision.
True
True or false: countries were uncertainty avoidance is high are Brazil and Switzerland.
True
True or false: countries with low institutional collectivism emphasize individual achievement and awards.
True
True or false: customers, employees, and investors are the stakeholders most often emphasized in the mission statements.
True
True or false: good vision statements need to create some distance with the status quo of an organization.
True
True or false: in order to effectively manage organizational behavior, it is helpful to have an understanding of different employees' personality.
True
True or false: in some countries, it is considered rude to say "no."
True
True or false: job attitudes are more related to citizenship behavior than they are to job performance.
True
True or false: lateral thinking can generate completely new concepts and ideas, and brilliant improvements to existing systems.
True
True or false: many nations have signed the Kyoto protocol on climate change and pledged to begin the long process of reducing greenhouse gas emissions.
True
True or false: mission and vision play a prominent role in the planning facet of the POLC framework.
True
True or false: strategy is a pattern of resource allocation choices and organizational arrangements that result from managerial decision making.
True
True or false: the degree to which a stakeholder is affected by a firm's decisions is sometimes correlated with their power and influence over the decision.
True
True or false: the use of online social networking principles can open the door to outside collaborations.
True
True or false: the way that a firm is organized can affect goals and objectives in a number of ways.
True
True or false: under the psychological contract, an employee may believe that if he or she works hard and receives favorable performance evaluations, he or she will receive an annual bonus.
True
True or false: wikis let people contribute to a project anytime.
True
Under the psychological contract, an employee may believe that if he or she works hard and receives favorable performance evaluations, he or she will receive an annual bonus.
True
While goals may sometimes be general, the objectives and the metrics that gauge them should be specific.
True
Wikis let people contribute to a project anytime
True
Winning the war for talent means attracting the right workers who will be enthusiastic about their work.
True
An observer may find out about a company's culture by examining its rules and policies.
True.
By the end of 2008, 60% of the world's population was using mobile phones.
True.
Companies with detail-oriented culture give a competitive advantage to companies in the hospitality industry by helping them differentiate themselves from others.
True.
Consciously creating an environment where passion is both encouraged and developed starts at the top through the communication of mission and vision.
True.
Cost leadership is a low-cost, broad-based market strategy.
True.
Countries where uncertainty avoidance is high are Brazil and Switzerland
True.
Countries where uncertainty avoidance is high are Brazil and Switzerland.
True.
Creativity and passion can influence the organization's strategy.
True.
Customers, employees, and investors are the stakeholders most often emphasized in the mission statements.
True.
Goals and objectives provide a form of control since they create a feedback opportunity regarding how well or how poorly the organization is executing its strategy.
True.
Good vision statements need to create some dissonance with the status quo of an organization.
True.
Identifying a set of values that might be used to describe an organization's culture helps us identify, measure, and manage culture more effectively.
True.
In MBO systems, goals and objectives are written down for each level of the organization.
True.
In a matrix structure, product managers have control and say over product related matters, while department managers have authority over matters related to company policy.
True.
In an example of a matrix structure at a software development company, business analysts, developers, and testers each report to a functional department manager and to a project manager simultaneously.
True.
In decentralized companies, decisions are made and problems are solved at lower levels by employees who are closer to the problem in question.
True.
In order to effectively manage organizational behavior, it is helpful to have an understanding of different employees' personality.
True.
In some countries, it is considered rude to say "no".
True.
Job attitudes are more related to citizenship behavior than they are to job performance.
True.
Kaplan and Norton's Balanced Scorecard, Accenture's Performance Prism, and Skandia's Intellectual Capital Navigator are examples of boilerplate versions of financial measurement.
True.
Lateral thinking can generate completely new concepts and ideas, and brilliant improvements to existing systems.
True.
Leaders are instrumental in creating and changing an organization's culture.
True.
Many nations have signed the Kyoto Protocol on climate change and pledged to begin the long process of reducing greenhouse gas emissions.
True.
Mechanistic structures limit individual autonomy and self determination which will likely lead to lower levels of intrinsic motivation on the job.
True.
Mission and vision play a prominent role in the planning facet of the P-O-L-C framework.
True.
One approach to focusing is to service either industrial buyers or consumers, but not both.
True.
Organizational culture will act as a self-defending organism where intrusive elements are kept out.
True.
Some employees are more comfortable in a centralized organization where their manager confidently gives instructions and makes decisions.
True.
Starbucks is an example of a people-oriented culture.
True.
Strategy is a coherent plan of action, articulated in clear goals and objectives for a long-term purpose of an organization.
True.
Strategy is a pattern of resource allocation choices and organizational arrangements that result from managerial decision making.
True.
Tactical planning in an organization is usually an intermediate-range plan designed to develop specific means to implement the strategic plan.
True.
The best strategies, corporate and business, are based on a thorough SWOT analysis.
True.
The degree to which a stakeholder is affected by a firm's decisions is sometimes correlated with their power and influence over the decision.
True.
The manager should be directed and controlled by the objectives of performance rather than by his/her boss.
True.
The use of online social networking principles can open the door to outside collaborations.
True.
The way that the firm is organized can affect goals and objectives in a number of ways.
True.
Under the psychological contract, an employee may believe that if he or she works hard and receives favorable performance evaluations, he or she will receive an annual bonus.
True.
When a company has a diverse product line, each product will have unique demands, deeming divisional structures more useful.
True.
Wikis let people contribute to a project anytime.
True.
Turnover
Turnover refers to an employee's leaving an organization. Employee turnover has potentially harmful consequences, such as poor customer service and poor company-wide performance. When employees leave, their jobs still need to be performed by someone, so companies spend time recruiting, hiring, and training new employees, all the while suffering from lower productivity. Yet not all turnover is bad. Performance Level - Work Attitude - Personality These are major reasons people might leave a job or be asked to leave.
Relationships at Work
Two strong predictors of our happiness at work and commitment to the company are our relationships with coworkers and managers. The people we interact with, how friendly they are, whether we are socially accepted in our work group, and whether we are treated with respect by them are important to our happiness at work.
People in high power distance societies expect:
Unequal power distribution and greater stratification
People in high-power distance societies expect:
Unequal power distribution and greater stratification
People in high power distance societies expect:
Unequal power distrobution
Hierarchy in an organization is necessary for:
Unity of command
SMART
Using SMART Criteria These portions of the scorecard get more specific in terms of which measurable short-term personal results you want to achieve. What are the most important changes you want to tackle in your career? Similarly, you will want to answer how you can measure your personal results. What values do you have to obtain, and what are your specific targets? For personal objectives and performance measures to be most effective, you might try seeing how they measure up to SMART criteria. These characteristics—specific, measurable, aggressive yet attainable, realistic, and time bound—yield the acronym SMART. Here is how to tell if your objectives, measures, and targets are SMART.
See how to evaluate resources, capabilities, and core competencies using VRIO analysis.
VRIO Analysis Given that almost anything a firm possesses can be considered a resource or capability, how should you attempt to narrow down the ones that are core competencies, and explain why firm performance differs? To lead to a sustainable competitive advantage, a resource or capability should be valuable, rare, inimitable (including nonsubstitutable), and organized. This VRIO framework is the foundation for internal analysis. [19] VRIO is an acronym for valuable, rare, inimitable, and organization.
The Starbucks mission statement describes guiding principles and the organization's:
Values
Values
Values are the beliefs of an individual or group, and in this case the organization, in which they are emotionally invested.
Values
Values refer to people's stable life goals, reflecting what is most important to them. Values are established throughout one's life as a result of accumulating life experiences, and values tend to be relatively stable.
See how you can add staging, pacing, and vehicles to the strategy.
Vehicles The first three facets of the strategy diamond—arenas, differentiators, and economic logic—might be considered the traditional facets of strategizing in that they cover the basics: (1) external environment, (2) internal organizational characteristics, and (3) some fit between them that has positive performance consequences. The fourth facet of the strategy diamond is called vehicles. If arenas and differentiators show where you want to go, then vehicles communicate how the strategy will get you there. Staging and Pacing Staging and pacing constitute the fifth and final facet of the strategy diamond. Staging and pacing reflect the sequence and speed of strategic moves. This powerful facet of strategizing helps you think about timing and next steps, instead of creating a strategy that is a static, monolithic plan
Which of the following is a basic building block of an organizational structure?
Vertical linkage
_____ show the lines of responsibility through which a supervisor delegates authority to subordinates, oversees their activities, evaluates their performance, and guides them toward improvement when necessary.
Vertical linkages
Objectives
Very precise, time-based, measurable actions that support the completion of a goal. Must (1) be related directly to the goal (2) be clear, concise, and understandable (3) be stated in terms of results (4) begin with an action verb (5) specify a date for accomplishment (6) be measurable
Time horizon, from long to short
Vision & Mission, Strategic Goals & Objectives, Operating Goals & Objectives
Visual perception
Visual Perception Our visual perception definitely goes beyond the physical information available to us; this phenomenon is commonly referred to as "optical illusions." Artists and designers of everything from apparel to cars to home interiors make use of optical illusions to enhance the look of the product.
People in societies where uncertainty avoidance is high want:
Want strict rules, laws and policies
People in societies where uncertainty avoidance is high:
Want strict rules, laws and policies.
People in societies where uncertainty avoidance is high want:
Want strict rules, laws, and policies
Faster Pace of Innovation
We all want the next new thing, and we want it now. New models, new products, and new variations—companies are speeding new products to market in response to customer demands.
Goals and objectives are difficult to set because:
We might not know what they should cover
Goals and objectives are difficult to set because:
We might not know what they should cover. We lay out too many of them with the hope that at least we are covering all the bases.
What is Strategic management?
What Is Strategic Management? Strategic management reflects what a firm is doing to achieve its mission and vision as seen by its achievement of specific goals and objectives. The strategic management process "is the process by which a firm manages the formulation and implementation of its strategy." [1] The strategic management process is "the coordinated means by which an organization achieves its goals and objectives."
Strategic management
What an organization does to achieve its mission and vision
Strategic Management
What an organization does to achieve its mission and vision.
Have you ever wondered how you could be happier at work and how greater work satisfaction could improve your overall effectiveness? Here are some ideas that may help you achieve a great sense of peace for yourself as well as when you are working with a negative coworker.
Leverage your Big Five traits. Your personality is a big part of your happiness. Which of the Big Five positive traits are you strongest on? Be aware of them and look for opportunities to express them at work. Are you high on Neuroticism? If so, work to overcome this challenge: If you choose to find the negative side of everything, you will. Find a job and company that fit you well. Good fit with the job and company are important to your happiness. This starts with knowing yourself, your chosen career, and the particular job in question: What do you want from the job? What do you enjoy doing? Get accurate information about the job and the company. Ask detailed questions about what life is like in this company. Do your research. Read about the company; use your social network to understand the company's culture. Develop good relationships at work. Make friends. Try to get a mentor if your company does not have a formal mentoring program. Approach a person you admire and attempt to build a relationship with this person. An experienced mentor can be a great help in navigating life at a company. Your social network can help you weather the bad days and provide you with emotional and instrumental support during your time at a company as well as afterward. Pay is important, but job characteristics matter more to your job satisfaction. So don't sacrifice the job itself for a bit more money. When choosing a job, look at the level of challenge and the potential of the job to make you feel engaged. Be proactive in managing organizational life. If the job is stressful, cope with it by effective time management and having a good social network, as well as being proactive in getting to the source of stress. If you don't have enough direction, ask for it! Know when to leave. If the job makes you unhappy over an extended period of time and there is little hope of solving the problems, it may be time to look elsewhere.
Current liabilities
Liabilities coming due in the short term, usually the coming year. Accounts payable , employement, income and sales taxes, federal and state unemployment insureance.
Long-term debt
Liabilities may be bank notes or loans made to purchase the business's fixed asset structure. Long-term debt/liabilities come due in a time period of more than one year.
Someone who works at Procter & Gamble who is responsible for the production, marketing, and profitability of the Tide detergent product line is called a:
Line Manager
Someone who works at Procter & Gamble who is responsible for the production, marketing, and profitability of the Tide detergent product line is called a:
Line Manager.
What is the name given to a management structure in which the line managers are provided with specialists? Please select the most specific answer.
Line and staff structure
A useful personal mission and vision statement should include all of the following EXCEPT:
What career you would like to take
A useful personal mission and vision statement should include all of the following EXCEPT:
What career you would like to take.
Work Behaviors
What people do at work (we focus on observable behaviors)
Strategy formulation answers the question:
What should be our strategy?
Strategy formulation answers the question:
What should our strategy be?
Licensing
When a firm (licensor) provides the right to manufacture its product or use its trademark to a foreign company (licensee) for a fee (royalty).
See the components of microenvironment analysis that support industry analysis.
Microenvironment refers primarily to an organization's industry and the markets related to it. An industry is a group of firms producing products that are close substitutes. In the course of competition, these firms influence one another. Typically, industries include a rich mix of competitive strategies that companies use in pursuing strategic competitiveness and above-average returns. In part, these strategies are chosen because of the influence of an industry's characteristics. Accordingly, the industry microenvironment consists of stakeholder groups that a firm has regular dealings with. The way these relationships develop can affect the costs, quality, and overall success of a business.
Understand the need for a balance between strategic design and emergence.
Mintzberg's advocacy of strategy making as an iterative process involving experimentation and feedback is not necessarily an argument against the rational, systematic design of strategy. The critical issues are, first, determining the balance of design and emergence and, second, how to guide the process of emergence. The strategic planning systems of most companies involve a combination of design and emergence. Thus headquarters sets guidelines in the form of vision and mission statements, business principles, performance targets, and capital expenditure budgets. However, within the strategic plans that are decided, divisional and business unit managers have considerable freedom to adjust, adapt, and experiment.
A firm's values are often described in the:
Mission and vision statements
A firm's values are often described in the:
Mission and vision statements.
A _______ communicates the organization's reason for being, and how it aims to serve its key stakeholders.
Mission statement
The final step in the ethical decision making process is:
Monitor outcomes
The final step in the ethical decision-making process is:
Monitor outcomes.
Which of the following statements regarding performance and organizational change is INCORRECT?
More successful firms find it easier to change than those performing poorly.
In the English language, how many words describing personality have been identified?
More than 15.000 Words
Companies may deal with work/balance reasons for absences by giving employees all of the following EXCEPT:
More training programs to improve time management
Companies may deal with work/balance reasons for absences by giving employees all of the following EXCEPT:
More training programs to improve time management.
How did Netflix use social networking principles to improve efficiency?
Netflix improved algorithms that match movie lovers to titles they enjoy
How did Netflix use social networking principles to improve efficiency?
Netflix improved algorithms that match movie lovers to titles they enjoy.
Which one of the following Big Five personality traits is also referred to as "negative affect"?
Neuroticism
Which one of the following big five personality traits is also referred to as "Negative affect?"
Neuroticism
Which one of the following big five personality traits is also referred to as "negative affect"?
Neuroticism
Neuroticism
Neuroticism refers to the degree to which a person is Irritable, temperamental and moody.
Which one of the following Big Five personality traits is also referred to as "negative affect"?
Neuroticism.
The success of the culture change effort may be increased by developing...
New rituals, symbols, and stories
Method for aiding groups to produce ideas quickly
Nominal Group Technique (NGT)
All of the following describe Lateral EXCEPT:
Not necessary for creativity but helpful.
Stress
Not surprisingly, the amount of stress present in a job is related to employee satisfaction and commitment. Stressors range from environmental ones (noise, heat, inadequate ventilation) to interpersonal ones (organizational politics, conflicts with coworkers) to organizational ones (pressure to avoid making mistakes, worrying about the security of the job). Some jobs, such as intensive care unit nurse and military fighter pilot, are inherently very stressful.
Most profitable steel company in the industry, 130 profitable quarters, employees are expected to act like owners of the company, lowest employee turnover rate in industry
Nucor Corporation
Behavior that is not within the job description, but is necessary for organizational success
OCB -Organizational Citizenship Behavior
End results of planning (specific)
Objective
Define: Unity of Direction
One boss, one plan
stereotypes
One of the factors biasing our perception is stereotypes. Stereotypes are generalizations based on a group characteristic. For example, believing that women are more cooperative than men or that men are more assertive than women are stereotypes.
Describe Lewin's three-stage model of planned change.
One of the most useful frameworks in this area is the three-stage model of planned change developed in the 1950s by psychologist Kurt Lewin. [1] This model assumes that change will encounter resistance. Therefore, executing change without prior preparation is likely to lead to failure. Instead, organizations should start with unfreezing, or making sure that organizational members are ready for and receptive to change. This is followed by change, or executing the planned changes. Finally, refreezing involves ensuring that change becomes permanent and the new habits, rules, or procedures become the norm.
Michael Porter
One of the most well-known frameworks used to analyze industries is Michael Porter's five forces. Porter's model attempts to analyze the attractiveness of an industry by considering five forces within a market. According to Porter, the likelihood of firms making profits in a given industry depends on five factors: (1) barriers to entry and the threat of potential new entrants, (2) buyer power, (3) supplier power, (4) threat from substitutes, and (5) rivalry among industry competitors
Greater Personalization and Customization
One size no longer fits all, and that means tailoring products and services to meet specific customer preferences.
Learning organization
One where acquiring knowledge and changing behavior as a result of the newly acquired knowledge is part of an organization's design
Teams that experience unforeseen changes in their tasks do well if they are populated with people high in:
Openness
Openness
Openness is the degree to which someone is Curious, Original, Intellectual, Creative and Open to new ideas.
Big Five Personality Traits are السمات الشخصية الخمس الكبرى هي
Openness, الانفتاح على افكار جديدة او الفضول او الابداع Conscientiousness, الضمير الحي أو جودة العمل الجاد والحذر Extraversion, ودود ومستعد لمقابلة اشخاص جدد واجتماعي Agreeableness, التوافقية و الموافقة Neuroticism. العصبية والقلق وسرعة الانفعال
Teams that experience unforeseen changes in their tasks do well if they are populated with people high in:
Openness.
Operational Planning
Operational planning generally assumes the existence of organization-wide or subunit goals and objectives and specifies ways to achieve them.
Define: Order
Orderliness refers to the environment and materials as well as policies and rules.
Organization citizenship behaviors
Organizational Citizenship Behaviors While job performance refers to the performance of duties listed in one's job description, organizational citizenship behaviors involve performing behaviors that are more discretionary. Organizational citizenship behaviors (OCB) are voluntary behaviors employees perform to help others and benefit the organization.
Culture manifests itself in some visible aspects of the organization EXCEPT
Organizational Structure
Which of the following statements regarding change is INCORRECT?
Organizational change takes only a few forms.
_______ are voluntary behaviors employees perform to help others and benefit the organization.
Organizational citizenship behaviors
Collection of feelings or beliefs that people have about their organization as a whole
Organizational commitment
Organizational Commitment
Organizational commitment is the emotional attachment people have toward the company they work for. A highly committed employee is one who accepts and believes in the company's values, is willing to put out effort to meet the company's goals, and has a strong desire to remain with the company.
Informal set of values and norms that controls the way propel in an organization interact
Organizational culture
Organization Culture
Organizational culture is the workplace environment formulated from the interaction of the employees in the workplace. Organizational culture is defined by all the life experiences, strengths, weaknesses, education, upbringing, and other attributes of the employees.
Organizational culture is defined by all of the following EXCEPT:
Organizational mission and vision statements
Organizational culture is defined by all of the following EXCEPT:
Organizational mission and vision statements.
Summary - chap 1.4
Organizational performance can be viewed along three dimensions—financial, social, and environmental—collectively referred to as the triple bottom line, where the latter two dimensions are included in the definition of CSR. While there remains debate about whether organizations should consider environmental and social impacts when making business decisions, there is increasing pressure to include such CSR activities in what constitutes good principles of management. This pressure is based on arguments that range from CSR helps attract and retain the best and brightest employees, to showing that the firm is being responsive to market demands, to observations about how some environmental and social needs represent great entrepreneurial business opportunities in and of themselves.
Which of the following is the solution to the challenge created by division of labor- figuring out how to coordinate different tasks and the people who perform them?
Organizational structure
Organizational Structure
Organizational structure refers to how work is coordinated between individuals and teams within an organization. To achieve organizational goals and objectives, individual work needs to be coordinated and managed. Structure is a valuable tool in achieving coordination, as it specifies reporting relationships (who reports to whom), describes formal communication channels, and explains how separate actions of individuals are linked together. Organizations can function within a number of different structures, each possessing distinct advantages and disadvantages. Although any structure that is not properly managed will have challenges, certain organizational structures are better equipped for particular environments and tasks.
The four categories of stakeholders of a firm are:
Organizational, capital market, product market and social
The four categories of stakeholders of a firm are:
Organizational, capital market, product market and social.
The four categories of stakeholders of a firm are:
Organizational, capital market, product market, and social
The four categories of stakeholders of a firm are:
Organizational, capital market, product market, and social.
Define: Stability of Tenure
Organizations do best when tenure is high and turnover is low. People need time to learn their jobs and stability promotes loyalty.
Matrix organizations
Organizations that cross a traditional functional structure with a product structure. Specifically, employees reporting to department managers are also pooled together to form project or product teams
Flat structures
Organizations with few layers, often with large numbers of employees reporting to a single manager
Tall structures
Organizations with several layers of management between front-line employees and the top level
The content of the mission and vision statements process is analogous to which step in the principles of management framework:
Organizing
____________ is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives.
Organizing
Managers need to consider the individual and the situation when making:
Organizing decisions about the job
Managers need to consider the individual in the situation when making:
Organizing decisions about the job
Managers need to consider the individual in the situation with making:
Organizing decisions about the job
Managers need to consider the individual and the situation when making:
Organizing decisions about the job.
Organizing
Organizing is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives.
Organizing
Organizing is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives. The organizing facet of the P-O-L-C framework typically includes subjects such as organization design, staffing, and organizational culture.
Job design and enrichment is an aspect of:
Organizing process
Job design and enrichment is an aspect of:
Organizing process.
The content of the mission and vision statements process is analogous to which step in the principles of management framework:
Organizing.
Goals
Outcome statements that define what an organization is trying to accomplish. Without specific objectives, the general goal cannot be accomplished
It is more common to see rewards tied to performance indicators as opposed to seniority or loyallty in companies whose cultures are
Outcome-oriented
It is more common to see rewards tied to performance indicators as opposed to seniority or loyalty in companies whose cultures are:
Outcome-oriented
It is more common to see rewards tied to performance indicators as opposed to seniority or loyalty in companies whose cultures are:
Outcome-oriented.
3 generic ways to compete
Overall low cost Differentiation Focusing
Cost Leadership, Differentiation, and Scope
Overall lower cost or cost leadership refers to the strategy where a firm's competitive advantage is based on the bet that it can develop, manufacture, and distribute products more efficiently than competitors.
Owner's equity
Owner's equity refers to the amount of money the owner has invested in the firm. This amount is determined by subtracting current liabilities and long-term debt from total assets. The remaining capital/ owner's equity is what the owner would have left in the event of liquidation, or the dollar amount of the total assets that the owner can claim after all creditors are paid."
Central American Free Trade Agreement (CAFTA)
Passed in 2005, created a free-trade zone with Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras and Nicaragua.
Passion About the Vision
Passion about the Vision Passion can help the entire business thrive. While there is little academic research on the relationship between passion and vision, studies suggest that fostering engagement, a concept related to passion, in employees has a significant effect on the corporate bottom line. Gallup, for instance, has been on the forefront of measuring the effect of what it calls employee engagement
Passion
Passion in business refers to an intense, driving, or overmastering feeling or conviction. Passion is also associated with intense emotion compelling action.
Organizational stakeholders
People and teams who should be consulted as a strategy is developed or who will play some part in its implementation: high level managers and frontline workers.
The penetration of mobile phones is changing the way we do business because:
People are more connected and able to share more information
The penetration of mobile phones is changing the way we do business because:
People are more connected and able to share more information.
Strategic Network
People outside your control who will enable you to reach key organizational objectives. Figure our future priorities and challenges; get stakeholder support for them.
Proactive personality
People who identify opportunities, show initiative, take action, and persevere until meaningful change occurs refers to a person's inclination to fix what is wrong, change things, and use initiative to solve problems.
Operational Network
People you need to accomplish your assigned, routine tasks. Get your work done and get it done efficiently.
The 3 components of the perception process are:
Perceiver, target, situation
Perception
Perception may be defined as the process by which individuals detect and interpret environmental stimuli. What makes human perception so interesting is that we do not solely respond to the stimuli in our environment.
Firms with clearly communicated, widely understood and collectively shared mission and vision have been shown:
Perform better than those without them
Firms with clearly communicated, widely understood and collectively shared mission and vision have been shown:
Perform better than those without them.
Culture, or shared values within the organization, may be related to ...
Performance
Person-Job fit
Person-job fit is the degree to which a person's knowledge, skills, abilities, and other characteristics match the job's demands. (Human resources professionals often use the abbreviation KSAO to refer to these four categories of attributes.)
Person-Organization fit
Person-organization fit refers to the degree to which a person's personality, values, goals, and other characteristics match those of the organization.
Personal Staging and Pacing
Personal Staging and Pacing You can think of personal staging and pacing as the implications of your strategy for your own Outlook calendar. Personal staging and pacing answers questions such as the following: What sequence of events does my strategy require? What are the financial requirements and consequences of each event? What is my deadline for the first event? Is the deadline flexible? Can I manage the pacing of the achievement of each event? How will timing affect achievement of my personal growth and development strategy? Do some events provide an opportunity to reconsider or adjust my strategy?
Nature + Nurture=
Personality
Personality
Personality encompasses a person's relatively stable feelings, thoughts, and behavioral patterns. Each of us has a unique personality that differentiates us from other people, and understanding someone's personality gives us clues about how that person is likely to act and feel in a variety of situations
When engaging in job design or enrichment, a manager should consider:
Personality in relation to work behavior
Contributed to productivity through people, customer relations, lean management
Peter Drucker
Who wrote these 9 principles of management that are embodied in excellent organizations?
Peter Drucker
A mission statement serves an important function for organizations as part of the POLC function:
Planning
Goals and Objectives are an essential part of ....
Planning
Mission and vision development are analogous to which principles of management framework
Planning
Mission and vision development are analogous to which step in the principles of management framework:
Planning
Strategy formulation is an essential component of the POLC framework:
Planning
The content of the mission and vision statements process is analogous to which step in the principles of management framework:
Planning
P-O-L-C what does it stand for?
Planning Organizing Leading Controlling
Selective perception is particularly important during the:
Planning Process
Planning and strategy formulation
Planning and strategy formulation, sometimes called business planning or strategic planning, have much in common, since formulation helps determine what the firm should do.
Environmental planning is a:
Planning process
Environmental scanning is a:
Planning process
Selective perception is particularly important during the:
Planning process
Selective perception is particularly important during the:
Planning process.
The 4 functions of Management are:
Planning, Leading, Organizing, and Controlling
A mission statement serves an important function for organizations as part of the POLC function:
Planning.
Mission and vision development are analogous to which step in the principles of management framework:
Planning.
Strategy formulation is an essential component of the POLC framework:
Planning.
Effective controlling requires the existence of ______, since they provide the necessary performance standards or objectives.
Plans
People in societies where assertiveness is low:
Prefer harmony in relationships
People, in societies where assertiveness is low:
Prefer harmony in relationships
People, in societies where assertiveness is low: Select one: a. Prefer harmony in relationships b. Want to be rewarded for the best ideas c. Are encouraged to compete among themselves d. Take risks more often
Prefer harmony in relationships
People in societies were assertiveness is low:
Prefer harmony in relationships.
People, in societies where assertiveness is low:
Prefer harmony in relationships.
For a differentiation strategy to be effective, the product difference should NOT be based on:
Price
In a differentiation strategy, the product difference may be based on product design, method or distribution, and broad market group of consumers EXCEPT for:
Price
Organizational justice can be classified into three categories:
Procedural, distributive and interactional
Organizational justice can be classified into three categories:
Procedural, distributive and interactional.
Organizational justice can be classified into three categories:
Procedural, distributive, and interactional
Outcome controls
Processes that are generally preferable when just one or two performance measures (say,return on investment or return on assets) are good gauges of a business's health. Are effective when there's little external interference between managerial decision making and business performance.
Concurrent controls
Processes that entail monitoring and adjusting ongoing activities. Can prevent problems from becoming worse. It's a real time control because it deals with the present.
Feedback controls
Processes that involve the gathering of information about a completed activity, evaluating that information, and taking steps to improve the similar activities in the future. Permit managers to use information on past performance to bring future performance in line with planned objectives.
Nonfinancial controls
Processes that track aspects of the organization that aren't immediately financial in nature but are expected to lead to positive financial performance outcomes.
A firm's tangible resource includes which of the following?
Production equipment
A firm's tangible resources include which of the following?
Production equipment
A firms tangible resources include which of the following?
Production equipment
Programmed thinking
Programmed thinking, often called left-brained thinking, relies on logical or structured ways of creating a new product or service. In terms of mission and vision, this means a logical and deliberate process is used to develop the vision statement.
The GLOBE project describes a project that includes all EXCEPT:
Proposed and validated a theory of relationship between culture and government
The GLOBE project describes a project that includes all EXCEPT:
Proposed and validated a theory of relationship between culture and government.
What does Quality Control ensure?
Quality control ensures that the organization delivers on its promises
The following are tips which allow one to more accurately gauge the culture of a company EXCEPT
Read the mission and value statement.
The different aspects of strategy as distinguished by Mintzberg include which of the following?
Realized.
_____ is defined as a process that provides the organization with a pool of qualified job candidates from which to choose.
Recruitment
Organizational Design
Reflect and support the strategy, offer a set of decision guidelines for appropriate actions, and guide members in terms of their support for the strategy.
Laggin indicators
Reflect the performance is in a decline
Corporate Social Performance (CSP)
Reflects the measure of an organization's commitment to individuals, communities, and the natural environment
The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and earn above average returns includes all of the following EXCEPT:
Relatively moderate rivalry
The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and earn above-average returns includes all of the following EXCEPT:
Relatively moderate rivalry
The industry characteristics that make it very difficult for firms to achieve strategic competitiveness and earn above-average returns includes all of the following EXCEPT:
Relatively moderate rivalry.
Self-fulfilling prophecy
When an established stereotype causes one to behave in a certain way, which leads the other party to behave in a way that makes the stereotype come true.
Understand the basics of general environment analysis.
When appraising the external environment of the organization, managers often start with its general environment. The general environment is composed of dimensions in the broader society that influence an industry and the firms within it. [1] We group these dimensions into six segments that compose the acronym PESTEL (political, economic, social, technical or technological, environmental, and legal). Although the degree of impact varies, these environmental segments affect each industry and its firms. The challenge to the firm is to evaluate those elements in each segment that are of the greatest importance. Resulting from these efforts should be a recognition of environmental changes, trends, opportunities, and threats.
Divisional structures
When departments represent the unique products, services, customers, or geographic locations the company is serving
Escalation of commitment (sunk costs fallacy)
When individuals continues on a failing course of action after information reveals this maybe a poor path to follow. The continuation is often based on the idea that one has already invested in this course of action.
Overconfidence bias
When individuals overestimate their ability to predict future events.
Identify the external forces creating change on the part of organizations.
When it comes to organizational change, one of the biggest obstacles is resistance to change. People resist change because change disrupts habits, conflicts with certain personality types, causes a fear of failure, can have potentially negative effects, can result in a potential for loss of power, and, when done too frequently, can exhaust employees. (does this answer question?)
individual consideration
When leaders challenge organizational norms and status quo and encourage employees to think creatively and work harder.
Inspirational motivation
When leaders come up with a vision that is inspiring to others.
Laissez-faire decision making
When leaders leave employees alone to make the decision. The leader provides minimum guidance and involvement in the decision.
Authoritarian decision making
When leaders make the decision alone without necessarily involving employees in the decision making process.
Corporate Social Responsibility (CSR)
When organizations consider the interest of society by taking responsibility for the effect of their activities on customers, suppliers, employees, shareholders, communities, and the environment in all aspects of their operations
Functional managers
Responsible for the efficiency and effectiveness of a specific area such as accounting or marketing.
contingent rewards
Rewarding employees for their accomplishments.
Scamper
SCAMPER is a checklist tool that helps you to think of changes you can make to an existing marketplace to create a new one—a new product, a new service, or both. You can use these changes either as direct suggestions or as starting points for lateral thinking. This, in turn, can inspire a new vision statement.
Which of the following are creativity tools:
SCAMPER.
SWOT Analysis
SWOT analysis, which stands for strengths, weaknesses, opportunities, and threats, is a tool to help organizations understand internal strengths and weaknesses and external opportunities of the environment. SWOT was developed by Ken Andrews of Harvard Business School in the early 1970s.
Internal strengths and weaknesses of firm and the environmental opportunities and threats facing a firm
SWOT-strenghts, weaknesses, opportunities, and threats
Which of the following is considered an intangible resources?
Scientific capabilities
Which of the following is considered an intangible resources?
Scientific capabilities.
invisible hand
When self-directed gain leads to social and economic benefits for the whole community.
state capitalism
When the state, rather than private owners, run some businesses.
trade surplus
When the value of a country's exports is more than that of its imports. (favorable)
inform strategy development
Second, mission and vision create a target for strategy development. That is, one criterion of a good strategy is how well it helps the firm achieve its mission and vision.
The screening out of info that which we are uncomfortable with or that contradicts our beliefs
Selective Perception
Focusing on some aspects of the environment and ignoring other elements is called:
Selective attention
Focusing on some aspects of the environment and ignoring other elements is called:
Selective attention.
Focusing on some aspect of the environment and ignoring other elements is called:
Selective perception
The extent to which a person believes that he or she's is a worthwhile and deserving individual
Self-Esteem
Persons belief about his or her ability to perform a particular behavior successfully
Self-efficacy
Self-Efficacy
Self-efficacy is a belief that one can perform a specific task successfully.
Self Esteem
Self-esteem is the degree to which a person has overall positive feelings about himself or herself.
The extent to which people try to control the way they present themselves to others
Self-monitoring
strategic Decisions
Set the course of organizations. Implemented by Top Management Teams, CEO's, and Board Directors
Counterculture
Shared values and beliefs that are in direct opposition to the values of the broader organizational culture.
Define: Centralization
Should a company be centralized (run by management) or decentralized (run more so by employees)
Humane Orientation
Should you reward people for being fair, altruistic, generous, and kind to others? In countries such as Malaysia, this practice is more prevalent and encouraged than in low-humane-orientation countries such as Germany.
_____ organizational structures do not rely on formal systems of division of labor.
Simple
Which of the following is a disadvantage of using a functional structure?
Slow execution of strategic changes
Social Monitoring
Social Monitoring refers to the extent of which a person can alter his or her appearance and actions in social situations.
Social Networking
Social networking refers to systems that allow members of a specific site to learn about other members' skills, talents, knowledge, or preferences. Companies use these systems internally to help identify experts.
Triple bottom line refers to the measurement of business performance along:
Social, economic and environmental dimensions.
(SHRM)
Society for Human Resource Management
General Manager (GM)
Someone who is responsible for managing a clearly identifiable revenue-producing unit, such as a store, business unit, or product line.
The number of persons reporting to one manager is referred to as the __________ and after years of research, it has been determined that there is no perfect ratio of subordinates to managers.
Span of Management
Define: Specialization/Division of Labor
Specializing in a limited set of activities it allows you to be more efficient and increase output.
Tactical planning is designed to develop:
Specific action steps to implement the strategic plan.
Diversification
Spreading out investments to reduce risk
Stakeholder analysis
Stakeholder analysis refers to the range of techniques or tools used to identify and understand the needs and expectations of major interests inside and outside the organization environment.
Groups that have an interest in how the company operates
Stakeholders
___________ are those parties who have some influence over the organization or stake in its future.
Stakeholders
Stakeholders
Stakeholders are individuals or groups who have an interest in an organization's ability to deliver intended results and maintain the viability of its products and services. A number of factors impact the degree to which various stakeholders may influence an organization. Influence reflects a stakeholder's relative power over and within an organization; importance indicates the degree to which the organization cannot be considered successful if a stakeholder's needs, expectations, and issues are not addressed.
What kind of expertise do supply chain masters need at Intel?
Statistics, risk management and modeling
What kind of expertise do supply chain masters need at Intel?
Statistics, risk management and modeling.
What kind of expertise do supply chain masters need at Intel?
Statistics, risk management, and modeling
Define: Stick to the Knitting
Stay with what you do well and the businesses you know best.
Define: Close to the Customer
Staying close to the customer to understand and anticipate customer needs and wants.
Stakeholder - 3 step analysis
Step 1: Determining Influences on Mission, Vision, and Strategy Formulation. Step 2: Determining the Effects of Key Decisions on the Stakeholder. Step 3: Determining Stakeholders' Power and Influence over Decisions. The third step of a stakeholder analysis is to determine the degree to which a stakeholder group can exercise power and influence over the decisions the firm makes
Believing that women are more cooperative than men, or men are more assertive than women, are examples of:
Stereotyping
The process of categorizing or labeling people on the basis if a single attribute or characteristic
Stereotyping
Believing that women are more cooperative than men, or men are more assertive than women, are examples of:
Stereotyping.
Researchers did not find a relationship between organizational cultures and company performance with respect to the following indicators:
Stock conditions
Researchers did not find a relationship between organizational cultures and company performance with respect to the following indicators.
Stock conditions.
________ is essentially about understanding choices organizations make in order to achieve specific goals and objectives to fulfill a firm's mission and vision.
Strategic Management
The process of utilizing the firm's resources and capabilities to best prepare the firm for future endeavors
Strategic Management (SM)
While there are different schools of thought about how strategy comes about, researchers generally agree the common characteristic across successful organizations is:
Strategic focus
Key Takeaway
Strategic focus seems to be a common element in the strategies across successful firms. Two prevalent views of strategy where focus is a key component are strategy as trade-offs and strategy as discipline. Michael Porter identifies three flavors of strategy: (1) cost leadership, (2) differentiation, or (3) focus of cost leadership or differentiation on a particular market niche. Firms can straddle these strategies, but such straddling is likely to dilute strategic focus.
Strategic Human Resources Management
Strategic human resources management (SHRM) reflects the aim of integrating the organization's human capital—its people—into the mission and vision.
Strategic Planning
Strategic planning involves analyzing competitive opportunities and threats, as well as the strengths and weaknesses of the organization, and then determining how to position the organization to compete effectively in their environment.
The _______ is how the firm aims to realize it mission and vision.
Strategy
Strategy Implementation
Strategy implementation tells managers how they should go about putting the desired strategy into action. The concept of strategy is relevant to all types of organizations, from large, public companies like GE, to not-for-profit organizations, to religious organizations, to political parties.
Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns high entry barriers, suppliers and buyers with little bargaining power, and moderate rivalry EXCEPT:
Strong competitive threats from product substitutes
Forms of organizational change
Structure, procedures, technology, culture
Functional structures
Structures in which jobs are grouped based on similarity in functions
Cultures that emerge within different departments, branches, or geographic locations are called
Subcultures
"The interests of one person should never take precedence over what is best for the company as a whole" is an example of which of Fayol's principles of management:
Subordination of individual interest
The interest of one person should never take precedence over what is best for the company as a whole" is an explanation of which of Fayol's principles of management:
Subordination of individual interest
"The interests of one person should never take precedence over what is best for the company as a whole" is an explanation of which of Fayol's principles of management:
Subordination of individual interest.
Scamper Checklist -
Substitute, Combine, Adapt, Modify, Put to other uses, Eliminate, Rearrange
economic performance
Success or failure in achieving economic policy objectives
Selective Perception
When we pay selective attention to parts of the environment while ignoring other parts. The personal filtering of what we see and hear to suit our own needs.this process is unconscious. "We simply are bombarded with too much stimuli every day to pay equal attention to everything so we pick and choose according to our own needs
Aggressive Yet Attainable
When you identify objectives that are most important to you, you begin to figure out ways you can make them come true. You develop the attitudes, abilities, skills, and financial capacity to reach them. You begin seeing previously overlooked opportunities to bring yourself closer to the achievement of your goals and objectives.
Corporate strategy vs Business strategy
Whereas corporate strategy looks at an organization as a portfolio, business strategy focuses on how a given business needs to compete to be effective. All organizations need strategies to survive and thrive.
A firm's strategy includes capture how the vision and mission will be achieved, communicates how vision and mission will be achieved, and determines which goals and objectives show that the organization is on the right path to achieving them Except the following
Which system and processes are used to implement the goals and objectives.
Which of the following is NOT one of the areas you should think about when having your own performance reviewed:
Who should conduct the review
A _____ span of management exists when a manager directly supervises a very large number of subordinate employees. A _____ span of management exists when a manager directly supervises only a few subordinates.
Wide;Narrow
How we perceive others will shape our behavior, which in turn:
Will shape the behavior of the person we are interacting with
Future Orientation
Will your employees favor activities that involve planning and investing in the future for long-term payoff? Future orientation is defined as one's expectations and the degree to which one is thoughtful about the future
Define: Remuneration
Workers should be paid fairly for their jobs. (shouldn't require tips)
Which of the following is an example of a competency-based job analysis?
Working with data analysis tools
Controlling consists of the following steps EXCEPT:
Write a mission and vision statement.
Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above average returns include which of the following?
Suppliers and buyers with little bargaining power
Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns includes which of the following?
Suppliers and buyers with little bargaining power
Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns includes which of the following?
Suppliers and buyers with little bargaining power.
Characteristics of MBO includes which of the following?
Systematic and organized approach
Characteristics of MBO includes which of the following?
Systematic and organized approach.
Systematic Problem solving
Systematic problem solving. The company must have a consistent method for solving problems, using data and statistical tools rather than assumptions.
Knowledge management systems
Systems for managing knowledge in organizations, supporting creation, capture, storage, and dissemination of information.
T/F Companies with detail-oriented culture give a competitive advantage to companies in the hospitality industry by helping them differentiate themselves from others
T
T/F Financial outcomes are often short-term in nature, so they omit other key factors that might be very important to the longer-term viability of the organization.
T
T/F In a matrix structure, product managers have control and say over product related matters, while department managers have authority over matters related to company policy.
T
T/F In decentralized companies, decisions are made and problems are solved at lower levels by employees who are closer to the problem in question.
T
T/F In order to effectively manage organizational behavior, it is helpful to have an understanding of different employees' personality.
T
T/F In some countries, it is considered rude to say "no".
T
T/F Industry characteristics and demands act as a force to create similarities among organizational cultures.
T
T/F Job attitudes are more related to citizenship behavior than they are to job performance.
T
T/F Kaplan and Norton's Balanced Scorecard, Accenture's Performance Prism, and Skandia's Intellectual Capital Navigator are examples of boilerplate versions of financial measurement.
T
T/F Leaders are instrumental in creating and changing an organization's culture.
T
T/F Many nations have signed the Kyoto Protocol on climate change and pledged to begin the long process of reducing greenhouse gas emissions.
T
T/F One approach to focusing is to service either industrial buyers or consumers, but not both.
T
T/F Planning is the function of management that involves setting objectives and determining a course of action for achieving these objectives.
T
T/F Research indicates that flat organizations provide greater need satisfaction for employees, and greater levels of self-actualization.
T
T/F Some employees are more comfortable in a centralized organization where their manager confidently gives instructions and makes decisions.
T
T/F Strategy formulation is essentially the aim of the organizing, leading, and controlling components of the POLC framework.
T
T/F The degree to which a stakeholder is affected by a firm's decisions is sometimes correlated with their power and influence over the decision.
T
T/F The manager should be directed and controlled by the objectives of performance rather than by his/her boss.
T
T/F The use of online social networking principles can open the door to outside collaborations.
T
T/F The way that the firm is organized can affect goals and objectives in a number of ways.
T
T/F Wikis let people contribute to a project anytime.
T
Tactical planning
Tactical planning is intermediate-range (one to three years) planning that is designed to develop relatively concrete and specific means to implement the strategic plan. Middle-level managers often engage in tactical planning.
If a company has a major problem, what type of committee might it create to investigate the problem?
Task Force
Which of the following is a difference between task-based and competency-based job analyses?
Task-based job analysis is suited for lower-level job positions while competency-based analysis might be more appropriate for specific, higher-level positions.
Tariffs
Taxes on imported goods making them more expensive
The scientific approach to management is sometimes referred to as:
Taylorism
One MBO criticism is:
That it seemed disconnected from a firm's strategy
One MBO criticism is:
That it seemed disconnected from a firm's strategy.
Experts from GreenBiz.com say the Balanced Scorecard opportunities are used in CSR because of all of the following EXCEPT:
The Balanced Scorecard is a focused set of key financial indicators.
5 Big Traits
The Big Five dimensions of Openness, Conscientiousness, Extraversion, Agreeableness, and Neuroticism can be remembered using the acronym OCEAN.
foreign subsidiary
a company owned in a foreign country by another company, called the parent company
sustainable competitive advantage
a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate
Embargo
a complete ban on the import or export of a certain product, or the stopping of all trade with a particular country
counter trading
a complex form of bartering in which several countries may be involved, each trading goods for goods or services for services
Consensus
a decision-making rule that groups may use when the goal is to gain support for an idea or plan of action. This decision-making rule is inclusive, participatory, cooperative, and democratic. If concern exists, the proposal is modified to accommodate them. This decision making is inclusive, participatory, cooperative, and democratic. Consensus leads to better accuracy, and it helps members feel greater satisfaction with decisions and have acceptance.
Be able to describe the Balanced Scorecard.
a framework designed to translate an organization's mission and vision statements and overall business strategy into specific, quantifiable goals and objectives and to monitor the organization's performance in terms of achieving these goals. Developed by Robert Kaplan and David Norton in 1992, gained worldwide popularity since the 1996 release of their book The Balanced Scorecard: Translating Strategy into Action.
vision statement
a future-oriented declaration of the organization's purpose and aspirations.
Inflation
a general rise in the prices of goods and services over time
monopolistic competition
a large number of sellers selling similar products that buyers perceive as different, EX: pop
Warren Bennis?
a new theory of leadership that addressed the need for leaders to have vision and to communicate that vision. More than just a manager, an effective leader was defined as someone with the ability to influence and motivate others not only to perform work tasks but also to support the organization's values and meet the organization's goals.
entrepreneur
a person who risks time and minded to start and manage a business
Personality encompasses
a person's relatively stable feelings, thoughts, and behavioral patterns. مشاعر الشخص المستقرة نسبيًا ،أفكار،وأنماط سلوكية.
federal reserve bank (FED)
a semi private organization not under the direct control of the government, but has members a-pointed by the president
Depression
a severe recession, usually accompanied by deflation
Mission Statement
a statement of the organization's purpose - what it wants to accomplish in the larger environment
Be able to describe management by objectives.
a systematic and organized approach that aims to increase organizational performance by aligning the subordinate objectives throughout the organization with the overall goals set by management. Ideally, employees get strong input to identify their objectives, time lines for completion, and so on. MBO includes ongoing tracking and feedback in the process to reach objectives.
social audit
a systematic evaluation of an organization's progress toward implementing socially responsible and responsive programs
social movement
a type of group action that is focused on specific political or social issues; examples include the civil rights movement, the feminist movement, and the Occupy Wall Street movement.
Many companies that are not virtual use the principles of a virtual organization as
a way to structure the work of distributed teams
The Nominal Group Technique
The Nominal Group Technique (NGT) is a method of facilitating a group of people to produce a large number of ideas in a relatively short time. [6] In addition to using NGT to develop a mission and vision statement, it can be useful to generate numerous creative ideas, to ensure everyone is heard, when there is concern that some people may not be vocal, to build consensus, when there is controversy or conflict.
The Strategy Diamond
The Strategy Diamond The strategy diamond was developed by strategy researchers Don Hambrick and Jim Fredrickson as a framework for checking and communicating a strategy. [1] In critiquing the field of strategy, these researchers noted that "after more than 30 years of hard thinking about strategy, consultants and scholars have provided executives with an abundance of frameworks for analyzing strategic situations....Missing, however, has been any guidance as to what the product of these tools should be—or what actually constitutes a strategy." [2]
Define: Managing Ambiguity and Paradox
The ability of managers to hold two opposing ideas in mind at the same time and still be able to function effectively.
Which of the following statements holds true for the "realistic" aspect of a goal?
The achievement of the goal is feasible.
environmental scanning
The act of analyzing the critical external contingencies facing an organization in terms of economic conditions, competitors, and customers.
Leadership
The act of influencing others toward a goal
Sarbanes-Oxley Act
The act sought to reform corporate governance practices in large U.S. public companies. The purpose of the rules is to "define a code of ethics as a codification of standards that is reasonably necessary to deter wrongdoing and to promote honest and ethical conduct," including the ethical handling of actual or apparent conflicts of interest, compliance with laws, and accountability to adhere to the code.
Feedforward controls (proactivity)
The active monitoring of problems in a way that provides their timely prevention, rather than after the fact reaction.
Measures
The actual metrics used to gauge performance on objectives. Without measures, the accomplishment of goals and objectives is difficult to ascertain
Management
The art of getting things done through the efforts of other people.
Define: Simple Form, Lean Staff
The best companies have very minimal, lean headquarters staff.
strategy
The central, integrated, externally-oriented concept of how an organization will achieve its objectives
Key Takeaway
The changing environment of organizations creates the need for newer forms of organizing. Matrix structures are a cross between functional and product-based divisional structures. They facilitate information flow and reduce response time to customers but have challenges because each employee reports to multiple managers. Boundaryless organizations blur the boundaries between departments or the boundaries between the focal organization and others in the environment. These organizations may take the form of a modular organization, strategic alliance, or self-managing teams. Learning organizations institutionalize experimentation and benchmarking.
Cost of goods sold/ cost of sales
The cost of goods sold/sales portion of the income statement shows the cost of products purchased for resale, or the direct labor cost (service person wages) for service businesses. Cost of goods sold/sales also may include additional categories, such as freight charges cost or subcontract labor costs. These costs also may be expressed in one category as total cost of goods sold/sales or can be broken out to match the sales categories.Breaking out sales and cost of goods sold/sales into separate categories can have an advantage over combining all sales and costs into one category. When you break out sales, you can see how much each product you have sold costs and the gross profit for each product. This type of analysis enables you to make inventory and sales decisions about each product individually.
Cohesion
The degree of camaraderie in a group
Esteem Needs
The desire to be respected by one's peers, feeling important, and being appreciated.
accounting profit
The difference between an organizations revenues and its cost in a given period of time
balance of payments
The difference between money coming into a country (from exports) and money leaving the country (for imports) plus money flows
economic profit
The difference between revenue and the opportunity cost of all resources used to produce the items sold
Behavioral controls
The direct evaluation of managerial and employee decision making, not of the results of managerial decisions.
Filtering
The distortion or withholding of information to manage a person's reactions.
Formalization
The extent to which policies, procedures, job descriptions, and rules are written and explicitly articulated
Henry Fayol
The father of the principles of management
Identifying Stakeholders
The first step in stakeholder analysis is identifying major stakeholder groups. As you can imagine, the groups of stakeholders who will, either directly or indirectly, be affected by or have an effect on a firm's strategy and its execution can run the gamut from employees, to customers, to competitors, to the government. Ultimately, we will want to take these stakeholders and plot them on a chart, similar to that shown in Figure 4.18 "Stakeholder Mapping".
Incubation
The fourth type of creativity is referred to as incubation. Incubation is a very deliberate approach that concerns a vision of sustainability—that is, leaving a legacy. This type of creativity is more complex because it involves teamwork, empowerment, and collective action.
Organizing
The function of management that involves developing an organizational structure an organizational structure and allocating human resources to ensure the accomplishment of objectives.
Planning
The function of management that involves setting objectives and determining a course of action for achieving those objectives
Which of the following statements holds true for the "specific" aspect of a goal?
The goal is explicit rather than vague.
Which of the following statements holds true for the "aggressive" aspect of a goal?
The goal presents a significant challenge to the organization.
Which of the following statements holds true for the "measurable" aspect of a goal?
The goal that is achieved is quantifiable.
Gross profit
The gross profit portion of the income/P&L statement tells the difference between what you sold the product or service for and what the product or service cost you. The goal of any business is to sell enough units of product or service to be able to subtract the cost and have a high enough gross profit to cover operating expenses, plus yield a net income that is a reasonable return on investment. The key to operating a profitable business is to maximize gross profit.
Synergy
The interaction of two or more activities, creating a combined effect greater than the sum of their individual efforts.
Social networks are often referred to as:
The invisible organization.
Describe how organizations may embrace continuous change.
The learning organization is an example of a company embracing continuous change. By setting up a dynamic feedback loop, learning can become a regular part of daily operations. If an employee implements a new method or technology that seems to be successful, a learning organization is in a good position to adopt it. By constantly being aware of how employee actions and outcomes affect others as well as overall company productivity, the inevitable small changes throughout organizations can be rapidly absorbed and tailored for daily operations. When an organization understands that change does indeed occur constantly, it will be in a better position to make use of good changes and intervene if a change seems detrimental.. Sum: According to emerging contemporary views, it can also be seen as a continuous process that affirms the organic, ever-evolving nature of an organization.
When engaging in job design or enrichment, a manager should consider:
a. Autonomy in relations to employee personality b. Freedom relative to employee personality c. Personality in relation to work behavior Correct d. Personality in relation to job design
Common arguments against corporate social responsibility argue that:
a. CSR detracts from the fundamental economic role of businesses. Correct b. CSR does not achieve a triple bottom line. c. there is no positive relationship between CSR and shareholder returns. d. there are no financial benefits of social or environmental initiatives.
A firm's strategy includes which of the following:
a. Captures how vision and mission will be achieved b. Communicates to stakeholders the hierarchical corporate structure. c. Sets specific operating procedures to be followed by front line managers. d. Establoshes systems and processes used to implement the goals and objectives A
A firm's strategy includes which of the following:
a. Captures how vision and mission will be achieved Correct b. Communicates to stakeholders the hierarchical corporate structure. c. Sets specific operating procedures to be followed by front line managers. d. Establishes systems and processes used to implement the goals and objectives
At Intel the key historic decision to abandon memory chips and concentrate upon microprocessors was the result of which of the following?:
a. Centralized decisions b. Acknowledged by top management c. Extensive market research d. Top-down process B
A firm's values are often described in the:
a. Company's handbook b. Company's brochure c. Mission and vision statements Correct d. Policy and procedure manuals Feedback
The major diversification strategy through which products are produced that are technically similar to the company's current products but appeal to a new consumer group is:
a. Concentric diversification b. Hierarchical diversification c. Conglomerate diversification d. Horizontal diversification A
In countries with low institutional collectivism:
a. Emphasize individual achievement Correct b. Reward groups rather than individuals c. Tolerate diversity of ideas d. Encourage hierarchical decision-making I
Value Chain
take the organization apart and identify the important constituent parts
Of the three essential components of the gauge-discover-reflect process, gauging involves:
taking stock of your knowledge and capabilities about a topic.
All of the following factors are important when unfreezing for planned change EXCEPT
taking things slowly; do not suggest a crisis is imminent
goods
tangible products like computers, food, cars
A _____ analysis focuses on the duties of the job.
task-based
Organizational citizenship behaviors can be divided into seven common themes, which include helping behavior, sportsmanship, self development EXEPT
team work.
Duncan Solutions, a growing electronics firm, has recently installed an automatic service to respond to customer queries that can be resolved with minimal troubleshooting information. This system, which uses interactive voice response, has enabled them to significantly reduce the number of customer support employees they require. This reduced manpower requirement depicts the role of _____ as an external factor that impacts forecasting in the company.
technology
Strategic Implementation
tells managers how they should go about putting the desired strategy into action
Free-Market Economies
the MARKET largely determines what goods and services are produced, who gets them and how the economy grows
VRIO (value, rare, inimitable, organization)
the VRIO framework suggests that a capability or resource, such as a patent or great location, is likely to yield a competitive advantage to an organization when it can be shoe that it is valuable, rare, difficult to imitate, and supported by the organization. Helps you understand whether those strengths will give it a competitive advantage.(internal analysis tool)
standard of living
the amount of goods and services people can buy with the money they have
profit
the amount of money a business earns above and beyond what it spends for salaries and other expenses
Productivity
the amount of output you generate given the amount of input. (ex: the hours you work)
Management Definition
the art of getting things done through the efforts of other people
values
the beliefs of an individual or group in which they are emotionally invested.
e-commerce
the buying and selling if goods online
Foreign Direct Investment (FDI)
the buying of permanent property and businesses in foreign nations
risk
the chance an entrepreneur takes of losing time and money on a business that my not prove profitable
Corporate Social Responsibility (CSR)
the concern businesses have for the welfare of society
Centralization
the degree to which decision making is concentrated at upper levels of the organization
corporate philanthropy
the dimension of social responsibility that includes charitable donations
Functional managers are responsible for
the efficiency and effectiveness of an area, such as accounting or marketing.
Uncertainty avoidance
the extent to which members of a society attempt to cope with anxiety by minimizing uncertainty. Should you establish rules, procedures, and social norms to help your employees deal with uncertainty?
Power distance
the extent to which the less powerful members of institutions and organizations expect and accept that power is distributed unequally. Should you distribute decision-making power equally among the group?
quality of life
the general well-being of a society. including political freedom, natural environment, education, healthcare, Safty, amount of leisure and rewards that add to personal satisfaction
command economy
the government largely determines what goods and services are produced, who gets them and how the economy grows
Values
the ideas, beliefs, and attitudes about what is important that help guide the way you live
Actors
the individuals, groups, organizations, or supraorganizations that comprise the network
Brain Drain
the loss of highly educated and skilled workers to other countries
monatary policy
the management of the money supply and interest rates by the federal reserve. (fed's control on interest rates and money supply)
free trade
the movement of goods and services among nations without political or economic barriers
climate change
the movement of the temperature of the planet up or down over time
Fluency
the number of ideas a person is able to generate.
identity theft
the obtaining of individuals' personal information, such as Social Security and credit card numbers, for illegal purposes
Intended Strategy
the outcome of a rational and structured top-down strategic plan
unemployment rate
the percentage of civilians at least 16-years-old who are employed and tried to find a job within the prior four months
business cycle
the periodic rises and falls that occur in economies over time
A project manager has the responsibility for
the planning, execution, and closing of any project.
corporate policy
the position a firm takes on social and political issues
Principle of reciprocity
the principle that actors in a network are more likely to reciprocate favors.
Principle of exchange
the principle that network exchange is more likely when you have access to unique resources
Planning
the process of anticipating future events and determining strategies to achieve organizational objectives in the future
Empowerment
the process of enabling an individual to think, behave, take action, and control work and decision making in autonomous ways
Perception
the process of organizing and interpreting sensory information, enabling us to recognize meaningful objects and events
demand
the quantity of a product people are willing to buy at different prices
supply
the quantity of a product that will be offered to the market by a supplier at various prices for a specified period
The performance plan will include a section that identifies all of the following EXCEPT:
the reward or promotion objectives
strategy formulation
the set o processes involved in creating or determining the strategies of the organization; it focuses on the content of strategies
The values and assumptions that shape the organization's culture can be uncovered by observing all of the following EXCEPT:
the stakeholders involved in the organization
ethics
the standards of moral behavior. behaviors that are accepted. y society as right vs wrong
Demography
the statistical study of the population, density, and characteristics like, age, race, gender. and income
Realized Strategy
the strategy that actually takes place
Organizational design decisions are made about:
the structure of an organization.
Organizational design decisions are made about
the structure of the organization
Resources and Development
the study of how to increase resources and create conditions that will make better use of them
revenue
the total amount of money a business takes in during a given period by selling goods and services
balance of trade
the total value of a nation's exports compared to its imports measured over a particular period
trade protectionism
the use of government regulations to limit the import of goods and services
Value Chain (also called capabilities)
the value chain asks you, in effect, to take the organization apart and identify the important constituent parts. Sometimes these parts take the form of functions, like marketing or manufacturing.
exchange rate
the value of one nation's currency relative to the currencies of other countries
An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The fact that the company has a set target date to complete the task reflects the _____ dimension of a goal.
time-bound
Gross Domestic Product (GDP)
total value of final goods and services produced in a country in a given year. involves both domestic and foreign companies
Greening
trend toward saving energy and producing products that cause less harm to the environment
True or False: An observer may find out about a company's culture by examining its rules and policies
true
True or False: Good vision statements need to create some dissonance with the status quo of an organization
true
True or False: In order to effectively manage organizational behavior, it is helpful to have and understanding of different employees' personality
true
True or False: Industry characteristics and demands act as a force to create similarities among organizational cultures
true
True or False: Job attitudes are more related to citizenship behavior than they are to job performance
true
True or False: Leaders are instrumental in creating and changing an organization's culture.
true
True or False: an observer may find out about a company's culture by examining its rules and policies
true
True or False: countries with low institutional collectivism emphasize individual achievement and awards
true
True or False: organizational culture will act as a self-defending organism where intrusive elements are kept out
true
True or False: strategy is a coherent plan of action, indicated in clear goals and objectives for a long-term purpose of an organization
true
True or False: the degree to which a stakeholder is affected by a firm's decisions is sometimes correlated with their power and influence over the decision
true
True or False: when a company has a diverse product line, each product will have unique demands, deeming divisional structures more useful
true
Recession
two or more consecutive quarters of decline in the GDP
Making sure that organizational members are ready for and receptive to change is what step of the Lewin model?
unfreeze
What is the first step in Lewin's model of planned change?
unfreeze
People-oriented cultures
value fairness, supportiveness, and respecting individual rights
operational planning
very specific, short-term planning that applies tactical plans to daily, weekly, and monthly operations
An organization's _____ describes what the organization hopes to become in the future.
vision
Skyway manufactures fighter jets. It aims to be the top aircraft manufacturing company in the world. This is an example of the _____ of the company.
vision
CSR (Corporate Social Responsibility)
voluntary actions taken by a company to address the ethical, social, and environmental impacts of its business operations and the concerns of its stakeholders
Leadership Styles
ways in which people express their leadership
Corprate Strategy
what business or businesses should we be in, How does being in one business help us compete in our other businesses
recovery
when an economy stabilizes and starts to grow
Findings of person/organization fit studies indicate
when people fit their organization, they are more committed to the organization.
All of the following statements regarding resistance to change are correct EXCEPT
when people react negatively to change, they experience negative emotions, but are no more likely to leave the firm than they would be in a firm that was not undergoing organizational change.
Disinflation
when the inflation rate starts to decline
trade deficit
when the value of a country exports is less than that of its imports (unfavorable)
Decision Paralysis
where more and more time is spent on gathering information and thinking about it, but no decisions are actually made.
All of the statements regarding workplace demographics and their impact on change are correct EXCEPT an older workforce
will likely cause flexible work hours and job sharing to diminish as older people like the structure of set hours of work.
Define: kinesthetic learner.
you have a preference for actually doing things and learning from trial and error, you may be a kinesthetic learner.
core inflation
CPI minus food and energy costs
Common arguments against corporate social responsibility argue that:
CSR detracts from the fundamental economic role of businesses
Common arguments against corporate social responsibility argue that:
CSR detracts from the fundamental economic role of businesses.
Understand the nature of corporate social responsibility.
CSR is about how companies manage their business processes to produce an overall positive effect on society. This growth has raised questions—how to define the concept and how to integrate it into the larger body of an organization's goals and objectives. The Dow Jones Sustainability Index created a commonly accepted definition of CSR: "a business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental and social developments." Specifically, the Dow Jones Sustainability Index looks at competence in five areas: Strategy: Integrating long-term economic, environmental, and social aspects in their business strategies while maintaining global competitiveness and brand reputation. Financial: Meeting shareholders' demands for sound financial returns, long-term economic growth, open communication, and transparent financial accounting. Customer and Product: Fostering loyalty by investing in customer relationship management, and product and service innovation that focuses on technologies and systems, which use financial, natural, and social resources in an efficient, effective, and economic manner over the long term. Governance and Stakeholder: Setting the highest standards of corporate governance and stakeholder engagement, including corporate codes of conduct and public reporting. Human: Managing human resources to maintain workforce capabilities and employee satisfaction through best-in-class organizational learning and knowledge management practices and remuneration and benefit programs.
Straddling Positions or Stuck in the Middle?
Can forms of competitive advantage be combined? That is, can a firm straddle strategies so that it is simultaneously the low-cost leader and a differentiator? Porter asserts that a successful strategy requires a firm to stake out a market position aggressively and that different strategies involve distinctly different approaches to competing and operating the business. Some research suggests that straddling strategies is a recipe for below-average profitability compared to the industry. Porter also argues that straddling strategies is an indication that the firm's managers have not made necessary choices about the business and its strategy. A straddling strategy may be especially dangerous for narrow scope firms that have been successful in the past, but then start neglecting their focus.
A firm's strategy includes which of the following:
Captures how vision and mission will be achieved
A firms strategy includes which of the following:
Captures how vision and mission will be achieved
A firm's strategy includes which of the following:
Captures how vision and mission will be achieved.
Explain the roles of formalization, centralization, levels in the hierarchy, and departmentalization in employee attitudes and behaviors.
Centralization is the degree to which decision-making authority is concentrated at higher levels in an organization. In centralized companies, many important decisions are made at higher levels of the hierarchy, whereas in decentralized companies, decisions are made and problems are solved at lower levels by employees who are closer to the problem in question. Decentralized companies give more authority to lower-level employees, resulting in a sense of empowerment. Formalization is the extent to which an organization's policies, procedures, job descriptions, and rules are written and explicitly articulated. Formalized structures are those in which there are many written rules and regulations. These structures control employee behavior using written rules, so that employees have little autonomy to decide on a case-by-case basis. Another important element of a company's structure is the number of levels it has in its hierarchy. In general, tall structures have several layers of management between frontline employees and the top level, while flat structures consist of only a few layers. In tall structures, the number of employees reporting to each manager tends to be smaller, resulting in greater opportunities for managers to supervise and monitor employee activities. In contrast, flat structures involve a larger number of employees reporting to each manager. In such a structure, managers will be relatively unable to provide close supervision, leading to greater levels of freedom of action for each employee. Organizational structures differ in terms of departmentalization, which is broadly categorized as either functional or divisional. Organizations using functional structures group jobs based on similarity in functions. Such structures may have departments such as marketing, manufacturing, finance, accounting, human resources, and information technology.
Four aspects of organizational structure
Centralization, formalization, hierarchical levels, departmentalization
Companies, the military, the government, and nonprofit organizations can operate because they have determined the levels of authority and reporting structure for their organizations. What is the name given to this line of authority?
Chain Of Command
Personality is a modest predictor of actual job performance, but a much better predictor of:
Citizen behaviors
Personality is a modest predictor of actual job performance, but a much better predictor of:
Citizenship behaviors
Personality is a modest predictor of actual job performance, but a much better predictor of:
Citizenship behaviors.
A Balanced Scorecard relies on which of the following processes to bind short-term activities to long-term activities?
Communicating and Linking
A Balanced Scorecard relies on which of the following processes to bind short-term activities to long-term activities?:
Communicating and linking.
Firms rely on bottom up innovation process is to communicate a strategy because of all of the following EXCEPT:
Communicating upward means that the support of the people needed to implement the strategy is accomplished
Firms rely on bottom-up innovation processes to communicate a strategy because of all of the following EXCEPT:
Communicating upward means that the support of the people needed to implement the strategy is accomplished
Jargon
Companies often have their own acronyms and buzzwords that are clear to them. Jargon is the language of specialized terms used by a group or profession. Every profession, trade, and organization has its own specialized terms.
Microeconomics
Concentrates on the behavior of people and organizations in markets for particular products or services.
Macroeconomics
Concentrates on the operation of a nation's economy as a whole.
The major diversification strategy through which products are produced that are technically similar to the companies current products but appeal to a new consumer group is:
Concentric diversification
The major diversification strategy through which products are produced that are technically similar to the company's current products but appeal to a new consumer group is:
Concentric diversification
The major diversification strategy through which products are produced that are technically similar to the company's current products but appeal to a new consumer group is:
Concentric diversification.
The best trait that predicts a person's work performance is:
Conscientiousness
Conscientiousness
Conscientiousness refers to the degree to which a person is organized, systematic, punctual, achievement oriented and dependable.
Performance Evaluation
Constructive process to acknowledge an employee's performance
Just as companies are outsourcing specific jobs, so social movements can:
Contract out tasks like lobbying and fundraising
The monitoring step of the mission and vision statement development process is analogous to which step of the principles of management framework?
Controlling
The monitoring step of the mission and vision statements development process is analogous to which step of the principles of management framework?
Controlling
Controlling
Controlling involves ensuring that performance does not deviate from standards. Controlling consists of three steps, which include (1) establishing performance standards, (2) comparing actual performance against standards, and (3) taking corrective action when necessary.
The monitoring step of the mission and vision statements development process is analogous to which step of the principles of management framework?
Controlling.
____________ refers to the traditions, heroes, informal methods of interacting, giving of recognition and other values of a firm and can be strong and used to bind members of the organization like a family, or weak so that connections remain on a professional-only level.
Cooperate culture
Teamwork
Cooperative effort by the members of a group or team to achieve a common goal
Understand resources, capabilities, and core competencies.
Core competencies are resources and capabilities that serve as a source of a firm's competitive advantage over rivals. Core competencies distinguish a company competitively and reflect its personality. Core competencies emerge over time through an organizational process of accumulating and learning how to deploy different resources and capabilities Resources Broad in scope, resources cover a spectrum of individual, social, and organizational assets. [7] Typically, resources alone do not yield a competitive advantage. [8] Instead, core competencies that yield a competitive advantage are often created through the unique bundling of several resources. [9] For example, Amazon.com has combined service and distribution resources to develop its competitive advantages. The firm started as an online bookseller, directly shipping orders to customers. It quickly grew large and established a distribution network through which it could ship "millions of different items to millions of different customers." Capabilities are the firm's capacity to deploy resources that have been purposely integrated to achieve a desired end state. [11] Capabilities emerge over time through complex interactions among tangible and intangible resources. Capabilities can be tangible, like a business process that is automated, but most of them tend to be tacit and intangible. Critical to forming competitive advantages, capabilities are often based on developing, carrying, and exchanging information and knowledge through the firm's human capital.
The inner rites, rituals, heroes, and values of a firm are known as:
Corporate culture
Corporate social responsibility
Corporate social responsibility (CSR) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities, and the environment in all aspects of their operations.
Gender Egalitarianism
Countries with low gender egalitarianism are male dominated.
What are the six steps to the Cultural Change Process
Create a sense of urgency Change leaders and key personnel Role Model Train Change the reward system Create new stories and symbols
Which of the following statements regarding the second stage of planned change is INCORRECT?
Create big wins because people need to see that things are happening.
In the information age, what do social networks do best?
Create secure sites for employees to collaborate on projects
2 Creative tools
Creativity Tools In this section, we introduce two creativity tools: SCAMPER and the Nominal Group Technique.
Creativity
Creativity and passion are of particular relevance to mission and vision statements. A simple definition of creativity is the power or ability to invent. While creativity is often thought of as being largely an artistic attribute, creativity in business is critical to innovation and progress.
Unethical behavior stems from:
Cultural Differences, personal Differences, and Relativism
According to the principles of visionary leader ship, the essentials for successful revolution include all EXCEPT:
Cultural systems
According to the principles of visionary leadership, the essentials for successful revolution include all EXCEPT:
Cultural systems
According to the principles of visionary leadership, the essentials for successful revolution include all EXCEPT:
Cultural systems.
OCP Organizational culture profile.
Culture is represented by seven distinct values Innovative- are flexible adaptable exprimetn with new ideas. Flat hierarchy, titles and other status distinctions are downplayed. Risk taking is encouraged and failures celebrated as well as successes. Detail oriented-emphasize precision and attention to detail. companies have a competitive advantage to companies in the hospitality industry by helping them differentiate themselves from others. Aggressive- value competitiveness by outperforming competitors.They often fall short in corporate social responsibility. People use language such as "we kill our competition". Aggressive culture is cited as a reason for getting into new legal troubles before old ones are solved. Team oriented-are collaborative and emphasize cooperation among employees. Members ha more positive relationships with their coworkers and particularly with their managers. Outcome Oriented- those that emphasize achievement results and action. Emphasizing sales performance.Employees are trained mentored to sell company products effectively and they learn how much money their department made everyday. Hold employees as well as managers accountable for success and use systems that reward employee and group output. More common to see rewards tied to performance indicators as opposed to seniority or loyalty. Performance oriented culture tend to outperform companies that are lacking such a culture. Performance pressures lead to a culture where unethical behaviors become the norm, individuals see their peers as rivals ans short term results are rewarded, the resulting unhealthy work environment serves as a liability. People Oriented-value fairness supportiveness and respect individual rights.Greater emphasis on expectation of treating people w respect.Employee retention and lower turnover rate lower than the industry average. Stable-are predictable, rule-oriented an bureaucratic. These cultures prevent quick action as a result may be a misfit to a changing and dynamic environment.Kills good ideas in early stages and prevents companies from innovating.
outcome-oriented cultures
Cultures that emphasize achievement, results, and action as important values.
aggressive cultures
Cultures that value competitiveness and outperforming competitors.
Those stakeholders most often emphasized in mission statements are:
Customers and employees
Seven common themes of extra-role performance
(1) Helping Behavior, (2) Sportsmanship, (3) Organizational Loyalty, (4) Organizational Compliance, (5) Individual Initiative, (6) Civic Virtue, and (7) Self-Development.
Approached to Setting Goals:
(1) Management by Objectives (MBO) (2) Balanced Scorecard
Dow Jones Sustainability Index five areas:
(1) Strategy (2) Financial (3) Customer and Product (4) Governance and Stakeholder (5) Human
The Balanced Scorecard relies on four precesses to bind short-term activities to long-term objectives
(1) Translating the vision (2) Communication and linking (3) Business Planning (4) Feedback and Learning
Mission and vision statements play three critical roles:
(1) communicate the purpose of the organization to stakeholders, (2) inform strategy development, and (3) develop the measurable goals and objectives by which to gauge the success of the organization's strategy.
Balanced scorecard focuses on four types of measures
(1) customers (2) learning and growth (3) internal process (4) financial performance
three steps of controlling
(1) establishing performance standards, (2) comparing actual performance against standards, and (3) taking corrective action when necessary.
Goals and Objective serve 4 purposes
(1) gauge and report performance (2) improve performance (3) align effort (4) manage accountabilities
Three mistakes related to measuring
(1) many organizations emphasize historical financial goals and objectives, which may no longer be relevant (2) financial outcomes are often short-term in nature, may cause them to overlook long-term success (3) often not tied to strategy or the vision or the mission
Three areas to consider when reviewing performance
(1) preparation for the review (2) what to do if the review is negative (3) what you should ultimately take away from the review
MBO involved
(1) setting company-wide goals (2) determining team and department goals (3) setting individual-level goals (4) developing an action plan (5) reviewing performance and revising goals
If a company has very competent workers, a well-established set of standard operating procedures, and few expected problems, what type of management should it adopt?
(Line structure of management) WRONG
The Five steps in the decision making process
1 Problem Identification. 2 Immersion-where the decision maker thinks about the problem consciously and gathers information. 3 Incubation-the decision maker sets the problem aside and does not think about it for a while. 4 Illumination-the insight moment, when the solution to the problem becomes apparent. 5 Verification & application- when the decision maker consciously verifies the feasibility of the solution and implements the decision.
Two traditional control techniques
1) budget audits, 2) performance audits
Toyota mission statement
1. Honor the language and spirit of the law of every nation and undertake open and fair corporate activities to be a good corporate citizen of the world. 2. Respect the culture and customs of every nation and contribute to economic and social development through corporate activities in the communities. 3. Dedicate ourselves to providing clean and safe products and to enhancing the quality of life everywhere through all our activities. 4. Create and develop advanced technologies and provide outstanding products and services that fulfill the needs of customers worldwide. 5. Foster a corporate culture that enhances individual creativity and teamwork value, while honoring mutual trust and respect between labor and management. 6. Pursue growth in harmony with the global community through innovative management. 7. Work with business partners in research and creation to achieve stable, longterm growth and mutual benefits, while keeping ourselves open to new partnerships
starbucks mission statement
1. Provide a great work environment and treat each other with respect and dignity. 2. Embrace diversity as an essential component in the way we do business. 3. Apply the highest standards of excellence to the purchasing, roasting and fresh delivery of our coffee. 4. Develop enthusiastically satisfied customers all of the time. 5. Contribute positively to our communities and our environment. 6. Recognize that profitability is essential to our future success
5 topics of leading
1. leadership 2. decision making 3. communications 4. groups/teams 5. motivation
3 topics of organizing
1. organization design 2. culture 3. social networks
the 2 topics of controlling
1. systems/processes 2. strategic human resources
The 3 planning topics of principles of management.
1. vision and mission 2. strategy 3. goals and objectives
According to Mintzberg, the percent of intended strategy realized is:
10-30 percent
Fayol has how many principles?
14
Percentage of businesses that fail in the first year
50%
The number of people who participate in a nominal group technique (NGT) is generally:
6-10 participants
The number of people who participate in a nominal group technique is generally:
6-10 participants.
OhmyNews is a popular newspaper that:
60,000 citizen reporters
See how corporate social responsibility can be incorporated using the Balanced Scorecard.
?
Vision That Pervades the Organization
A broader definition of visionary leadership suggests that, if many or most of an organization's employees understand and identify with the mission and vision, efficiency will increase because the organization's members "on the front lines" will be making decisions fully aligned with the organization's goals.
Team
A cohesive coalition of people working together to achieve mutual goals.
The difference between group and team is:
A collection of people is a group and not necessarily a team
The difference between group and team is:
A collection of people is a group and not necessarily a team.
The difference between a group and a team is
A collection of people is not a team
Describe how the elements of organizational structure can be combined to create mechanistic and organic structures.
...
Southwest Airlines is known for closely following its mission statement: Southwest Airlines is dedicated to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit. We are committed to provide our Employees a stable work environment with equal opportunity for learning and personal growth. In keeping with this statement, the company has developed inner rites, rituals, heroes, and values including holding a Christmas party in a hanger in Dallas every year and flying in employees from throughout the United States to attend. Awards are given at the party, entertainment is provided by employees, and dinner is provided for everyone. What do these activities describe?
A communal corporate culture
multinational corporation
A company that manufactures and markets products in many different countries and has multinational stock ownership and management.
Sustainable competitive advantage
A competitive advantage that will exist after all attempts at strategic imitation have ceased.Setting apart from potential competitors. The hardest thing for an organization to do is to develop its competitive advantage into a sustainable advantage where the organization's strengths cannot be easily duplicated or imitated by other firms, nor made redundant or less valuable by changes in the external environment.
Strategic management process
A comprehensive and ongoing management process aimed at formulating and implementing effective strategies; it is a way of approaching business opportunities and challenges such that the firm achieves its vision and mission.(pattern of allocation choices and organizational arrangements that result from managerial decision making)
The supplies needed for nominal group technique includes all EXCEPT:
A computer
The supplies needed for nominal group technique includes all EXCEPT:
A computer.
Franchising
A contractual agreement whereby someone with a good idea for a business sells others the rights to use the name and sell a product/service in a given area.
absolute advantage
A country has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries.
comparative advantage
A country should sell the products it produces most efficiently and buy from other countries the products it cannot produce as efficiently.
Define: A Bias for Action
A culture of impatience with lethargy and inertia that otherwise leaves organizations unresponsive.
strong culture
A culture that is shared by organizational members.
Sociogram
A diagram of points and lines used to represent relations among network actors.
Differentiation
A differentiation strategy involves marketing a unique product to a broad-based market. Because this type of strategy involves a unique product, price is not the most significant factor because consumers may be willing to pay a higher price for a product they perceive as different.
focus strategy
A firm following the focus strategy concentrates on meeting the specialized needs of its customers. Products and services can be designed to meet the needs of buyers.
contract manufacturing
A foreign company produces private-label goods to which a domestic company then attaches its own brand name or trademark. A form of outsourcing.
Strategic alliances
A form of boundaryless design where two or more companies find an area of collaboration and combine their efforts to create a partnership that is beneficial for all parties
Organizational design
A formal, guided process for integrating the people, information, and technology of an organization.
Vision statement
A future-oriented declaration of the organization's purpose and aspirations.
General Agreement on Tariffs and Trade (GATT)
A global forum for reducing trade restrictions on goods, services, ideas and cultural problems.
What is a group?
A group is a collection of individuals
team
A group of people who work together to set goals, make decisions, solve problems, and put ideas into action.
Groupthink
A group pressure phenomenon that increases the risk of the group making flawed decisions by allowing reductions in mental efficiency, reality testing, and moral judgment.
Delphi Technique
A group process that uses written responses to a series of questionnaires instead of physically bringing individuals together to make a decision.
Collective efficacy
A groups perception of its ability to successfully perform well. Research shows that a group's collective efficacy is positively related to its performance.[12] In addition, this relationship is stronger when task interdependence (the degree an individual's task is linked to someone else's work) is high rather than low.
High-quality LMX relationship
A high-quality, trust-based relationship between a leader and a follower.
job enrichment
A job redesign technique that allows workers more control over how they perform their own tasks
Servant leadership
A leadership approach which defines the leader's role as serving the needs of others.The primary mission of this approach is to develop employees and help them reach their goals.
A Learning Organization
A learning organization is "an organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights." The following are the five building blocks of learning organizations:
Define learning organizations, and list the steps organizations can take to become learning organizations.
A learning organization is one whose design actively seeks to acquire knowledge and change behavior as a result of the newly acquired knowledge. In learning organizations, experimenting, learning new things, and reflecting on new knowledge are the norms. At the same time, there are many procedures and systems in place that facilitate learning at all organization levels. By setting up a structure where failure is tolerated and risk taking is encouraged, the company took a big step toward becoming a learning organization. Learning organizations are also good at learning from experience—their own or a competitor's. To learn from past mistakes, companies conduct a thorough analysis of them. Some companies choose to conduct formal retrospective meetings to analyze the challenges encountered and areas for improvement. To learn from others, these companies vigorously study competitors, market leaders in different industries, clients, and customers. By benchmarking against industry best practices, they constantly look for ways of improving their own operations. Learning organizations are also good at studying customer habits to generate ideas.
Budgeting
A list of all planned expenses and revenues. On the basis of this listing you can project a future one.
strategic alliance
A long-term partnership between two or more companies established to help each company build competitive market advantages.
Define: Hands-On, Value-Driven
A management philosophy that guides everyday practice and shows management's commitment.
Which of the following organizational structures relies heavily on horizontal relationships?
A matrix structure
Leading Indicator
A measure of performance that serves to predict where the firm is going, in terms of performance.
lagging Indicator
A measure of performance that show how well the firm has done historically
Pacing Indicator
A measure of performance that tells you in real-time that the organization is on track.
Gross Output (GO)
A measure of total sales volume at all stages of production
Mission Statement
A mission statement communicates the organization's reason for being, and how it aims to serve its key stakeholders. Customers, employees, and investors are the stakeholders most often emphasized, but other stakeholders like government or communities (i.e., in the form of social or environmental impact) can also be discussed.
Bounded rationality model
A model that recognizes the limitations of decision-making processes. According to this model, individuals knowingly limit their options to a manageable set and choose the best alternative without conducting an exhaustive search for alternatives.
joint venture
A partnership in which two or more companies join to undertake a major project.
Operational control
A process concerned with executing the strategy.
Brainstorming
A process of generating ideas that follows a set of guidelines, which includes no criticism of ideas during the process, the idea that no suggestion is too crazy, and building on other ideas (piggybacking). Quantity of ideas leads to better ideas
formal orientation program
A program used to indoctrinate new employees to the company culture, as well as introducing them to their new jobs and colleagues.
Common Market
A regional group of countries with a common external tariff, no internal tariffs and coordinated laws to facilitate exchange among members.
Idea quotas
A set number of ideas a group must reach before they are done with brainstorming. recommended to avoid process loss and maximize the effectiveness of brainstorming.
Subculture
A set of values unique to a limited cross section of the organization.
Subcultures
A set of values unique to a limited cross-section of the organization.
In which of the following organizational structures, an organizational chart is usually not needed?
A simple structure
Monopoly
A single producer that is able to dominate the market for a good or service without effective competition and set price
Low-quality LMX
A situation where the leader and the employee have lower levels of trust, liking, and respect toward each other.
Companies with an innovative culture are characterized by flat hierarchy, no use for titles, status distinctions tend to be downplayed EXECPT
A smaller organization
Specific
A specific objective has a much greater chance of being accomplished than a general one. To set a specific objective, you must answer the six "W" questions: Who: Who is involved? What: What do I want to accomplish? Where: Identify a location. When: Establish a time frame. Which: Identify requirements and constraints. Why: Specific reasons, purpose or benefits of accomplishing the objective
Mission statement
A statement of purpose, describing who the company is and what it does.
Lean
A system of non-financial controls used to improve product and service quality and decrease waste.
Organizational culture
A system of shared assumptions, values, and beliefs showing people what is appropriate and inappropriate behavior
What is a team?
A team is a cohesive coalition of people working together to achieve the team agenda (i.e., teamwork).
Lateral thinking
A thinking process that is about changing patterns and perceptions (often called right-brained thinking)
Mentor
A trusted person who provides an employee with advice and support regarding career-related matters
Wildstorming
A variation of brainstorming where the group focuses on ideas that are impossible and then imagines what would be needed to make them possible.
A Virtual Organization is?
A virtual organization is one in which employees work remotely—sometimes within the same city, but more often across a country and across national borders.
Vision Statement
A vision statement, in contrast, is a future-oriented declaration of the organization's purpose and aspirations.
Many companies that are not virtual use the principles of a virtual organization as:
A way to structure of the work of distributed teams
Many companies that are not virtual use the principles of a virtual organization as:
A way to structure the work of distributed teams
Many companies that are not virtual use the principles of a virtual organization as:
A way to structure the work of distributed teams.
Nominal Group Technique (NGT)
A widely used small group process technique whose purpose is to produce a large number or ideas in a relatively short period of time.A technique designed to help with group decision making by ensuring that all members participate fully.
Value statement
A written statement that reaffirms or states outright the organization's values that might not be evident in the mission or vision statements.
Self-development, individual initiative and organizational loyalty are: Select one: a. Necessary in current principles of behavior in organizations b. Examples of organizational citizenship behaviors c. In-role performance standards d. CSR standards for individual performance
b. Examples of organizational citizenship behaviors
A manager must understand the compatibility of individual and group performance with respect to: Select one: a. Goals and objectives b. Goals and incentives c. Objectives and strategy d. Incentives and strategy
b. Goals and incentives
The term social movement refers to a type of group that: Select one: a. Imitates corporations to improve employee morale in organizations b. Is focused on specific political or social issues c. Mimic society d. Performs activities outside the workplace
b. Is focused on specific political or social issues
The monitoring step of the mission and vision statements development process is analogous to which step of the principles of management framework? Select one: a. Planning b. Organizing c. Leading d. Controlling
b. Organizating
The content of the mission and vision statements process is analogous to which step in the principles of management framework: Select one: a. Planning b. Organizing c. Leading d. Controlling
b. Organizing
Environmental scanning is the act of analyzing the critical external contingencies facing an organization in terms of: Select one: a. economic conditions, employees capabilities, and stakeholders. b. economic conditions, competitors, and customers. c. competitors, and economic and financial capabilities. d. stakeholders, community conditions and customers.
b. economic conditions, competitors, and customers
Environmental scanning is the act of analyzing the critical external contingencies facing an organization in terms of: Select one: a. economic conditions, employees capabilities, and stakeholders. b. economic conditions, competitors, and customers. c. competitors, and economic and financial capabilities. d. stakeholders, community conditions and customers.
b. economic conditions, competitors, and customers.
Industry characteristics of an attractive industry, one where firms may achieve strategic competitiveness and earn above-average returns includes which of the following? Select one: a. Low entry barriers b. Suppliers and buyers with little bargaining power c. Strong competitive threats from product substitutes d. Moderate to high rivalry
b. suppliers and buyers with little bargaining power
Thomas Malthus
believed that if the rich people had most of the wealth and the poor people had most of the population then we would all run out of resources
Neo-Malthusians
believed that there are too many people in the world and the solution is radical birth control
When well-designed, organizational controls can provide benefits such as
better ability to manage uncertainty and complexity.
Importing
buying products from another country
Teams that experience unforeseen changes in their tasks do well if they are populated with people high in: Select one: a. Conscientiousness b. Agreeableness c. Originality d. Openness
d. Openness
The Gilbreths are most famous for: Select one: a. Standardization of work b. Times studies c. Productivity reports d. Time and motion studies
d. Time and motion studies
A useful personal mission and vision statement should include all of the following EXCEPT: Select one: a. What you wish to accomplish b. What you would like to contribute c. What qualities you would like to develop d. What career you would like to take
d. What career you would like to take
Organizing
deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom
Person/job fit is the
degree to which a person's skill, knowledge, abilities and other characteristics match the job demands.
Person/organization fit is the
degree to which a person's values, personality, goals and other characteristics match those of the organization.
A company that groups its activities according to the defined geographic area in which they are performed—whether that is a city block, nation, or continent—has
departmentalization by location
When a company looks to departmentalize by areas of business like Japan, America, and Australia it is exemplifying ______.
departmentalization by location
Revenue Teriff
designed to raise money for the government
The data gathered from forecasting helps the recruitment process by:
determining how many people must be hired.
Top managers are responsible for
developing the organization's strategy and being a steward for its vision and mission.
The danger in filling all vacant job positions with internal candidates is that it reduces the _____ in the organization's workforce.
diversity
Environmental Scanning is the act of analyzing the critical external contingencies facing an organization in term of:
economic conditions, competitors, and customers
Environmental scanning is the act of analyzing the critical external contingencies and trends facing an organization in terms of:
economic conditions, competitors, and customers.
Environmental scanning is the act of analyzing the critical external contingencies facing an organization in terms of:
economic conditions, competitors, and customers.
Stagflation
economy is slowing but prices are still going up
Sherri is creative, warm and caring. Person/job fit suggests one job she might be particularly effective at is
elementary school teacher.
Emergent Strategy
emergent strategy—the decisions that emerge from the complex processes in which individual managers interpret the intended strategy and adapt to changing external circumstances. [2] Thus the realized strategy is a consequence of deliberate and emerging factors.
detail-oriented cultures
emphasize precision and attention to detail
compliance-based ethics codes
emphasize preventing unlawful behavior by increasing control and penalizing wrongdoers
A type of recruitment strategy that involves a planned program to access potential candidates who are known to current employees is the _____.
employee referrals program
The last step in employee training and development is the step of ____ training.
external
In order for the change effort to be successful, it is important to communicate the need for change to the stockholders
false
True or False: A mission statement does not provide insights into the company culture
false
True or False: According to Peters and Waterman, productivity through people means treating rank-and-file employees as a source of productivity
false
True or False: Aggressive cultures tend to value corporate social responsibility
false
True or False: Companies that have stable cultures value fairness, supportiveness, and respect toward individual rights
false
True or False: Companies that have stable cultures value fairness, supportiveness, and respect towards individual rights.
false
True or False: Design and emergence strategies involve specific levels of the organization
false
True or False: Monitor, disseminator, and spokesperson are the three decisional managerial roles in an organization
false
True or False: One-on-one communication in a virtual organization is preferable because it keeps everyone up to speed and promotes learning across the organization
false
True or False: Organizations and social movements alike are using wikis to help people find others with the skills and talents to solve pressing problems
false
True or False: Since there have been tremendous changes in the environment faced by managers, the functions of planning, organizing, leading, and controlling are not considered essential functions by many organizations today
false
True or False: Southwest Airlines prides itself for hiring employees based on specific job-related skills, rather than on personality and attitude
false
True or False: The role of goals and objectives are achieved only in the planning stage
false
True or False: The three informational roles assumed by a manager are primarily concerned with providing information outside the organization
false
True or False: functional structures tend to be effective when an organization has a large number of products and services requiring special attention
false
True or False: impressions may be defined as the process by which individuals detect and interpret environmental stimuli.
false
True or False: in order for the change effort to be successful, it is important to communicate the need for change to the stockholders
false
True or False: it is not only the top managers who set goals for a long-term purpose of an organization
false
Adam Smith
father of modern economics. wrote the wealth of nations.thought that freedom is vital to any economies survival. thought that people will for harder is they are rewarded
People resist change for all of the following reasons EXCEPT
feelings of certainty.
oligopolistic competition
few sellers who are sensitive to each other's pricing/marketing strategies
Insourcing
foreign companies opening offices and factories in the United States
Line, line-and-staff, matrix, and network all refer to
forms of organizational structure
Because _____ structures are slow to execute change, they tend to work best for organizations that offer narrow and stable product lines.
functional
Conflicts within departments are relatively rare in organizations that follow a _____ structure because all the people in a particular department share the same background, training, and as such, they tend to get along with each other.
functional
General Mental Ability
general mental ability also known as cognitive ability or intelligence, and often abbreviated as "g." General mental ability can be divided into several components—reasoning abilities, verbal and numerical skills, and analytical skills—and it seems to be important across different situations. It seems that "g" starts influencing us early in our school days because it is strongly correlated with measures of academic success even in childhood. [1] In adult life, "g" is also correlated with different measures of job performance.
Empowerment
giving frontline workers the responsibility, authority, freedom, training, and equipment they need to respond quickly to customer requests
An organization's _____ describes the narrower aims that organizations pursue in an effort to serve their visions and missions.
goal
A manager must understand the compatibility of individual and group performance with respect to:
goals and incentives
Capita-market stakeholders
groups that affect the availability or cost of capital-shareholders, venture capitalist, banks, and other financial intemediaries.
World Trade Organization (WTO)
headquartered in Geneual, and independent entity of 159 member nations whose purpose is to oversee cross-border trade issues and global business practices
Matt Flannery
helps people in developing countries get small loans to start buisnesses
Business Strategy
how a company will compete in its marketplace
Managers are responsible for getting activities completed efficiently and achieving the firm's goals by utilizing:
human, financial, and material resources
SWOT analysis
identifying internal strengths (S) and weaknesses (W) and also examining external opportunities (O) and threats (T)
Improvement
improvement is a type of creativity that involves making an existing idea better. A great example of this is McDonald's Ray Kroc, who joined McDonald's as a franchise agent and then built it into the worldwide corporation it is today, utilizing the founding McDonald brothers' original idea of creating quality and cooking standards for preparing tasty burgers and fries.
The structure of an organization is usually represented:
in the chain of command
The Structure of an organization is usually represented:
in the chain of command (with an organizational chart)
The structure of an organization is usually represented:
in the chain of command.
corporate social initiatives
include enhanced forms of corporate philanthropy directly related to the companies competencies
Organizational citizenship behaviors can be understood as:
individual behaviors that are beneficial to the organization and not recognized by the formal reward system
Organizational citizenship behaviors can be understood as:
individual behaviors that are beneficial to the organization and not recognized by the formal reward system.
whistle blowers
insiders who report illegal or unethical behavior
Leading
inspiring and motivating workers to work hard to achieve organizational goals
Services
intangible products like education, healthcare and insurance
Investment
investment, is associated with speed—being first and being fast. It is also a form of creativity fostered from the desire to be highly competitive.
Dunbar's number
is the conceptual upper limit of 150 ties in a network if ties are to be effectively maintained.
Work Behaviors
job performance, organizational citizenship, absenteeism, turnover
At work, two job attitudes that have the greatest potential to influence how we behave are:
job satisfaction and job commitment
Examples of business strategy include all of the following EXCEPT:
know the business needs to compete in order to be effective
Strategy is the concept of how an organization will achieve its objectives; therefore strategic management is:
knowledge to help in the development and implementation of strategies.
The principles of management are drawn from a number of academic fields, principally the fields of:
leadership, entrepreneurship, and strategy
The principles of management are drawn from a number of academic fields, principally, the fields of:
leadership, management and strategy.
The principles of management are drawn from a number of academic fields, principally, the fields of:
leadership, management, and strategy
Motivating employees is a managerial function of
leading
line manager
leads a function that contributes directly to the products or services the organization creates
A line manager
leads a function that contributes directly to the products or services the organization creates.
A staff manager like finance and accounting manager
leads a function that creates indirect inputs.
Passive management by exception
leaving employees along but then coming to the rescue if anything goes wrong. Manager waits until something is wrong before interfering.
import quota
limits the number of products in certain categories a nation can import
Devaluation
lowers the value of a nation's currency relative to others
A difference between management and leadership can be defined in the following way?
management is getting things done; leadership is inspiring action taken by others.
A general manager is someone who is responsible for
managing a clearly identifiable revenue-producing unit, such as a store, business unit, or product line
perfect competition
many sellers in a market and none is large enough to dictate the price of a product
A _____ structure can help develop new managers by putting a person without managerial experience in charge of a relatively small project as a test to see if the person has a talent for leading others.
matrix
An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The progress of the project can be easily calculated and assessed. The fact that this project can be easily assessed reflects the _____ dimension of a goal.
measurable
Producer Price Index (PPI)
measures wholesale price levels in the economy
An organization's _____ describes the reasons for an organization's existence.
mission
statements from the organization that answer questions about who we are, what do we value, and where we're going.
mission and vision
A firm's values are often described in the:
mission and vision statements
Controlling
monitoring performance, comparing it with goals, and taking corrective action as needed
To be successful, empowerment requires:
motivated skilled workers, and managers focused on employee development and power sharing
A big advantage of a _____ structure is that it allows a firm to act quickly.
multidivisional
A list of tasks, duties, and responsibilities of a job resulting from the stage of job analysis is called a _____.
ob description
Balanced Scorecard breaks broad goals down into ....
objectives, measures, and tactical activities
loss
occurs when a business's expenses are more than its revenues
Teams that experience unforeseen changes in their tasks do well if they are populated with people high in:
openness
Organic Structures
organic structures are flexible and decentralized, with low levels of formalization. In organizations with an organic structure, communication lines are more fluid and flexible. Employee job descriptions are broader and employees are asked to perform duties based on the specific needs of the organization at the time as well as their own expertise levels. Organic structures tend to be related to higher levels of job satisfaction on the part of employees. These structures are conducive to entrepreneurial behavior and innovativeness.
When the management of a business want to show the relationships and positions within the business they create a(n)
organization chart
OCBs
organizational citizenship behaviors, include employee behaviors that are beneficial to the organization but are not formally required as part of an employee's job
Organizational design
organizational design is a formal, guided process for integrating the people, information, and technology of an organization.
The first step in an effective employee training is the stage of _____.
orientation
It is more common to see rewards tied to performance indicators as opposed to seniority or loyalty in companies whose cultures are:
outcome-oriented
Product-market stake-holders
parties with whom the firm shares its industry, including suppliers and customers.
Being disturbed by changes without voicing your opinion is
passive resistance.
Which of the following statements regarding reasons employees resist change is correct?
people resist change that negatively impacts their influence and power in the firm.
All of the following statements regarding reasons employees resist change are correct EXCEPT
people with a negative self-concept view change as an opportunity.
Triple Bottom Line
people, planet, profit
Firms with clearly communicated, widely understood and collectively shared mission and vision have shown
perform better than those without them
Leading effectively requires an understanding of employees'
personalities. values. attitudes.
Even though we treat personality as relatively stable, change occurs. على الرغم من أننا نتعامل مع الشخصية على أنها مستقرة نسبيًا ، إلا أن التغيير يحدث.
personality does change over long periods of time.
Technology
phones, computers and software programs that make businesses more effective, efficient and productive
Mission and vision development are analogous to which step in the principles of management framework:
planning
P-O-L-C Framework
planning, organizing, leading, controlling
POLC
planning, organizing, leading, controlling
Accounting
planning, recording, analyzing, and interpreting financial information
In the recruitment process, a protocol involves a:
predetermined systemic procedure for how applications and résumés will be processed.
stable cultures
predictable, rule-oriented, and bureaucratic
it's often the situation or circumstances that create the ethical pressures. A global study of business ethics, published by the American Management Association, found that the main reasons for a lapse of ethics are
pressure to meet unrealistic business objectives/deadlines, a desire to further one's career, a desire to protect one's livelihood. [1]
Deflation
prices are going down
efficiency
producing goods and services using the least amount if resources
Effectiveness
producing the desired result
Peter Drucker made the following contributions to the field of management:
productivity through people, lean management, and a focus on customer relations.
Foreign Corrupt Practices Act
prohibits questionable or dubious payments to foreign officials to secure business contracts
economic boom
rapid economic growth
North American Free Trade Agreement (NAFTA)
ratified in 1994, created a free-trade are among the US, Canada and Mexico
An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. It wants to do so by year 2020. The company has the required technology and the required finances to come up with such a car. Therefore the plan seems to be feasible. The fact that the plan is viable and practicable reflects the _____ dimension of a goal.
realistic
Strategic Management
reflects what the firm is doing to achieve its mission and vision, as seen by its achievements of specific goals and objectives
Ensuring that change becomes permanent and the new procedures become the norm is what stage of Lewin's model of planned change?
refreeze
A functional structure differs from a simple structure in that a functional structure:
relies on a formal system of division of labor.
Rituals
repetitive activities within an organization that have symbolic meaning
A job analysis largely involves:
research and study to review job responsibilities of current employees.
What Is Strategic Focus?
researchers generally agree that strategic focus is a common characteristic across successful organizations. Strategic focus is seen when an organization is very clear about its mission and vision and has a coherent, well-articulated strategy for achieving those.
Supervisory or team managers
responsible for coordinating a subgroup of a particular function or a team composed of members from different parts of the organization
An applicant-matching software program would suggest which of the following personality traits would provide the best person/organization fit with a Wall Street firm?
risk-taking
Dumping
selling products in a foreign country at lower prices than those charged in the producing country
Exporting
selling products to another country
Values
shared principles, standards, and goals
Counterculture
shared values and beliefs that are in direct opposition to the values of the broader organizational culture
Profit and loss statement (P&L)
shows the relation of income and expenses for a specific time interval. The income/P&L statement is expressed in a one-month format, January 1 through January 31, or a quarterly year-to-date format, January 1 through March 31. This financial statement is cumulative for a 12-month fiscal period, at which time it is closed out. A new cumulative record is started at the beginning of the new 12-month fiscal period. The P&L statement is divided into five major categories: (1) sales or revenue, (2) cost of goods sold/cost of sales, (3) gross profit, (4) operating expenses, and (5) net income. Let's look at each category in turn.
If a firm consisting of more than one person is following a _____ organizational structure, tasks tend to be distributed among them in an informal manner rather than each person developing a narrow area of specialization.
simple
Strategic decision making in a _____ organizational structure tends to be highly centralized, with the owner often making all the important decisions.
simple
Effective controlling requires the existence of plans,
since planning provides the necessary performance standards or objectives.
Triple bottom line refers to the measurement of business performance along:
social, economic and environmental dimensions.
Triple Bottom Line
social, environmental, economic, Or people, planet, profit
A manager's primary challenge is to
solve problems creatively
mixed economy
some allocations of resources is made by the market and some by the government
General Manager
someone who is responsible for managing a clearly identifiable revenue-producing unit, such as a store, business unit, or product line.
Jargon
special words or expressions that are used by a particular profession or group and are difficult for others to understand.
An automobile manufacturing company wants to be the first company in the world to launch a car that would require no human intervention to run on the road. The fact that the company has an explicit goal reflects the _____ dimension of a goal.
specific
Tactical planning is designed to develop:
specific action steps to implement the strategic plan
Tactical planning is designed to develop:
specific action steps to implement the strategic plan.
P-O-L-C Framework
stands for planning, organizing, leading, controlling
Researchers did not find a relationship between organizational cultures and company performance with respect to the following indicators
stock conditions
Researchers did not find a relationship between organizational cultures and company performance with respect to the following indicators:
stock conditions
Managers make things happen through
strategic and entrepreneurial leadership.
Three different types of planning used in the function of management are:
strategic, tactical, and operational
Three different types of planning used in the function of management are:
strategic, tactical, and operational.
With the scorecard and strategy map in hand, managers break broad goals down into
strategies.
Strategic Management Process
strategy analysis, strategy formulation, and strategy implementation
In planning, how do strategy and mission/vision work together?
strategy is how the firm aims to achieve its mission and vision.
SWOT
strengths, weaknesses, opportunities, threats
Management by Objectives
systematic and organized approach that aims to increase organizational performance by aligning the subordinate objectives throughout the organization with the overall goals set by management. Included ongoing tracking and feedback in the process to reach objectives.
A stakeholder group composed of the CEO and members of the top management team is considered an important stakeholder group for all of the following reasons EXCEPT: Select one: a. Its influence as either originator or steward of the organization's mission and vision b. Its responsibility for formulating a strategy that realizes the mission and vision c. Its power and influence in the organization d. Its ultimate role in strategy implementation
c. Its power and influence in the organization
The communication step of the mission and vision statements development process is analogous to which step in the principles of management framework: Select one: a. Planning b. Organizing c. Leading d. Controlling
c. Leading
Firms with clearly communicated, widely understood and collectively shared mission and vision have been shown: Select one: a. To create and advance technology b. Embrace diversity c. Perform better than those without them d. Employ a smarter workforce
c. Perform better than those without them
Human resources management alignment means: Select one: a. To integrate employees with goals, mission and vision b. To integrate HR with the culture of the organization c. To integrate decisions about people with decisions about the results of an organization d. Integrate management and employee performance goals
c. To integrate decisions about people with decisions about the results of an organization
personalities
characteristic patterns of thinking, feeling and acting
Work Attitudes
collections of feelings, beliefs, and thoughts about how to behave in one's job and organization
mission statement
communicates the organization's reason for being, and how it aims to serve its key stakeholders.
Differentiation
competitive advantage is based more on superior product or service. Superiority arises from factors other than low cost, such as customer service, product quality or unique style.
Three key managerial skills are:
conceptual, human, and technical
Social stakeholders
consist broadly of external groups and organizations that may be affected by or exercise influence over firm strategy and performance, such as unions, governments, and activist groups.
Emergent Strategy
consists of reactive strategy elements that emerge as changing conditions warrant
Outsourcing
contacting with other companies to do some of the firms functions, like production or accounting
Consumer Price Index (CPI)
contains the. months statistics that measure the pace of inflation and deflation
Controlling
controlling involves ensuring that performance does not deviate from standards. Controlling consists of three steps: (1) establishing performance standards, (2) comparing actual performance against standards, and (3) taking corrective action when necessary. Mission and vision are relevant to all three steps.
Supervisory or team managers are responsible for
coordinating a subgroup of a particular function or a team composed of members from different parts of the organization.
Floating exhange rate
currencies "float" in value according to the supply and demand for them in the global market currency
Those stakeholders most often emphasized in mission statements are:
customers and employees
The supplies needed for nominal group technique includes all EXCEPT: Select one: a. Flip chart b. Masking tape c. 3x5 cards for each participant d. A computer
d. A computer
Firms rely on bottom-up innovation processes to communicate a strategy because of all of the following EXCEPT: Select one: a. Communicating upward means that someone has championed the vision internally b. Top management sees the merits and feasibility of the strategy already c. Middle-level and division managers are empowered to take ownership and propose new strategies d. Communicating upward means that the support of the people needed to implement the strategy is accomplished
d. Communicating upward means that the support of the people needed to implement the strategy is accomplished
Firms rely on bottom-up innovation processes to communicate a strategy because of all of the following EXCEPT: Select one: a. Communicating upward means that someone has championed the vision internally b. Top management sees the merits and feasibility of the strategy already c. Middle-level and division managers are empowered to take ownership and propose new strategies d. Communicating upward means that the support of the people needed to implement the strategy is accomplished
d. Communicating upward means that the support of the people needed to implement the strategy is accomplished
Firms rely on bottom-up innovation processes to communicate a strategy because of the following, EXCEPT Select one: a. Communicating upward means that someone has championed the vision internally b. Top management sees the merits and feasibility of the strategy already c. Middle-level and division managers are empowered to take ownership and propose new strategies d. Communicating upward means that the support of the people needed to implement the strategy is accomplished
d. Communicating upward means that the support of the people needed to implement the strategy is accomplished
The monitoring step of the mission and vision statements development process is analogous to which step of the principles of management framework? Select one: a. Planning b. Organizing c. Leading d. Controlling
d. Controlling
According to Fayol, orderliness refers to: Select one: a. The environment b. Policies and the environment c. Materials and environment d. Environment, materials and policies
d. Environment, materials and policies
Conscientiousness is the one personality trait that uniformly predicts: Select one: a. How highly adaptable to change a person is b. How highly motivated a person is to learn a new skill c. How highly detailed a person will be d. How highly performance oriented a person will be
d. How highly performance oriented a person will be
Mechanistic Structures
Mechanistic structures are those that resemble a bureaucracy. These structures are highly formalized and centralized. Communication tends to follow formal channels and employees are given specific job descriptions delineating their roles and responsibilities. Mechanistic organizations are often rigid and resist change, making them unsuitable for innovativeness and taking quick action.
Among the top motivators driving corporations to engage in CSR include all of the following reasons EXCEPT:
Meeting or exceeding budget
Which of the following is true regarding mentorship as a step in employee training and development?
Mentorship works effectively when embedded in the company's culture.
In the corporate world, social networks are starting points for corporate innovation:
Bringing limitless arrangements of individuals inspired by opportunities or tasks
Objectives typically include which of the following?
Be clear, concise, and understandable
Objectives typically include which of the following:
Be clear, concise, and understandable.
Key Takeaway-
Because the business environment increasingly depends on collaboration across regional and national borders, a successful global manager needs to be culturally sensitive and have an understanding for how business is done in different cultures. In some countries, loyalty to the group is key. Other countries celebrate mavericks and rule breakers if they can get things done. Knowing how best to communicate with your coworkers and employees—whether to be direct or indirect, whether to follow strict protocol or be more causal, whom to involve in decisions—are all important considerations.
Top 5 Solution Trends
Becoming More Connected Becoming More Global Becoming More Mobile Rise of the Creative Class Increasing Collaboration
Task oriented leader behaviors (initiating structure)
Behaviors involving the roles of subordinates, providing them with instructions and behaving in was that will increase the performance of the group (also called initiating structure)
People oriented leader behaviors (consideration)
Behaviors that include showing concern for employee feeling and treating employees with respect ( also called consideration)
Passive resistance
Being disturbed by changes without necessarily voicing those opinions
Two companies well known for their strong CSR orientations are:
Ben & Jerry's and S.C. Johnson
Two companies well known for the strong CSR orientations are:
Ben & Jerry's and SC Johnson
Three companies well known for their strong CSR orientations are:
Ben & Jerry's, S.C. Johnson, and Target
Two firms with strong CSR orientations
Ben & Jerry's, SC Johnson
Which of the following is a process that was established with the purpose of helping internal candidates apply for a job vacancy in the same organization?
Bidding system
Goals are outcome statements that define what an organization is trying to accomplish:
Both pragmatically and organizationally
Goals are outcome statements that define what an organization is trying to accomplish:
Both programmatically and organizationally
Goals are outcome statements that define what an organization is trying to accomplish:
Both programmatically and organizationally.
Define boundaryless organizations.
Boundaryless organization is a term coined by Jack Welch during his tenure as CEO of GE; it refers to an organization that eliminates traditional barriers between departments as well as barriers between the organization and the external environment. Many different types of boundaryless organizations exist. One form is the modular organization, in which all nonessential functions are outsourced. The idea behind this format is to retain only the value-generating and strategic functions in-house, while the rest of the operations are outsourced to many suppliers. Strategic alliances constitute another form of boundaryless design. In this form, similar to a joint venture, two or more companies find an area of collaboration and combine their efforts to create a partnership that is beneficial for both parties. In the process, the traditional boundaries between two competitors may be broken. As an example, Starbucks formed a highly successful partnership with PepsiCo to market its Frappuccino cold drinks.
Crucial Conversations
Discussions where the stakes are high, opinions vary, and emotions run strong.
Two companies well known for their strong CSR orientations are: Select one: a. Proctor & Gamble and Craigslist b. Ben & Jerry's and Proctor & Gamble c. Ben & Jerry's and S.C. Johnson d. S.C. Johnson and Proctor & Gamble
C. Ben & Jerry's and S.C. Johnson
4 challenges facing organizations
Managing human resources Social responsibility/ethical behavior Managing workforce diversity Managing international/global operations
Which of the following statements regarding factors of change in the organization is INCORRECT?
Manufacturing jobs have been outsourced, but knowledge-based jobs are largely safe from such movement.
_____ structures provide flexibility, enhanced cooperation, and creativity, and they enable the company to respond quickly to changes in the environment by giving special attention to specific projects or problems.
Matrix
Explain what a matrix structure is and the challenges of working in a structure such as this
Matrix organizations have a design that combines a traditional functional structure with a product structure. Instead of completely switching from a product-based structure, a company may use a matrix structure to balance the benefits of product-based and traditional functional structures. Specifically, employees reporting to department managers are also pooled together to form project or product teams. As a result, each person reports to a department manager as well as a project or product manager. Despite these potential benefits, matrix structures are not without costs. In a matrix, each employee reports to two or more managers. In the movie Office Space, the matrix structure is parodied at the fictitious software firm Initech, where Peter Gibbons claims to have eight bosses. Although exaggerated in the film, this situation is ripe for conflict in matrix structures. Because multiple managers are in charge of guiding the behaviors of each employee, there may be power struggles or turf wars among managers.
Measures
Measures are the actual metrics used to gauge performance on objectives. For instance, the objective of improved financial performance can be measured using a number of metrics, ranging from improvement in total sales, profitability, efficiencies, or stock price.
Characteristics of the approach to setting and managing goals and objectives include which of the following?:
Measures should be based around the needs of customers, shareholders and other key stakeholders
Characteristics of the approach to setting and managing goals and objectives include which of the following?
Measures should be based around the needs of customers, shareholders, and other key stakeholders
Characteristics of the approach to setting and managing goals and objectives include which of the following?:
Measures should be linked to the capabilities of each employee.
Characteristics of the approach to setting and managing goals and objectives include fewer is better, measures should be linked to the factors needed for success and measures should be based around the needs of customers, shareholders and key stakeholders EXCEPT:
Measures should only include the present to ensure success
Leading indicators
Measures that might be examined to predict poor performance of the organization in the future
Tactical Decisions
Decisions about how things get done. Implemented by Managers.
free market
Decisions about what and how much to produce are made by the market.
organizational design
Decisions made about the structure of an organization
Which of the following statements regarding the final stage of planned change is INCORRECT?
Declare victory early in making the change and get into a routine.
Enthusiastic support
Defenders of the new way and those who actually encourage others to give support to the change effort
integrity-based ethics codes
Define the organization's guiding values, create an environment that supports ethically sound behavior and stress a shared accountability.
A store with different sections such as household appliances, bed and bath, clothing, tools, furniture, jewelry, perfume, and cosmetics will often assign employees to work exclusively within one of those sections. In doing so the management is engaging in
Departmentalization By Product
What is the advantage of departmentalization by customer?
Departmentalization by customer allows the firm to deal efficiently with unique customers or customer groups.
Departmentalization is the grouping together of work units or departments to create manageable units. What is the name given to departmentalization of a group of employees based on them all doing the same organizational activity?
Departmentalization by function
Rational decision-making model
Describes a series of steps that decision makers should consider if their goal is to maximize the quality of their outcomes.1. Identify the problem 2. Establish decision criteria 3 Weigh decision criteria 4 Generate alternatives 5 Evaluate the alternatives 6 Choose the best alternative 7 Implement the decision 8 Evaluate the decision.
Market Price (Equilibrium Price)
Determined by supply and demand, this is the negotiated price.
Ken Andrews?
Developed SWOT analysis
Tom Peters referred to "master paradox" as:
Developing a level of comfort with complexity and ambiguity
Differentiation strategy
Differentiation strategy refers to the strategy where competitive advantage is based on superior products or service. Superiority arises from factors other than low cost, such as customer service, product quality, or unique style. To put these strategies into context, you might think about Walmart as pursuing a cost-leadership strategy and Nordstrom as pursuing a differentiation strategy.
Using Porter's analysis, firms are likely to generate higher profits if the industry includes which of the following?
Difficult to enter
Using Porter's analysis, firms are likely to generate higher profits if the industry includes which of the following?
Difficult to enter.
Identify guidelines for overcoming resistance to change.
Listen to naysayers. You may think that your idea is great, but listening to those who resist may give you valuable ideas about why it may not work and how to design it more effectively. Is your change revolutionary? If you are trying to change dramatically the way things are done, you will find that resistance is greater. If your proposal involves incrementally making things better, you may have better luck. Involve those around you in planning the change. Instead of providing the solutions, make them part of the solution. If they admit that there is a problem and participate in planning a way out, you would have to do less convincing when it is time to implement the change. Assess your credibility. When trying to persuade people to change their ways, it helps if you have a history of suggesting implementable changes. Otherwise, you may be ignored or met with suspicion. This means you need to establish trust and a history of keeping promises over time before you propose a major change. Present data to your audience. Be prepared to defend the technical aspects of your ideas and provide evidence that your proposal is likely to work. Appeal to your audience's ideals. Frame your proposal around the big picture. Are you going to create happier clients? Is this going to lead to a better reputation for the company? Identify the long-term goals you are hoping to accomplish that people would be proud to be a part of. Understand the reasons for resistance. Is your audience resisting because they fear change? Does the change you propose mean more work for them? Does it affect them in a negative way? Understanding the consequences of your proposal for the parties involved may help you tailor your pitch to your audience.
Examples of business strategy includes all of the following EXCEPT:
Looking at the organization as a portfolio.
Customer
Looks at customer satisfaction and retention
Internal Processes
Looks at production and innovation, measuring performance in terms of maximizing profit from current products
Superiority in competitive advantage refers to all of the following factors EXCEPT:
Low Cost
Superiority in competitive advantage refers to all of the following factors EXCEPT:
Low cost
Superiority in competitive advantage refers to all of the following factors EXCEPT:
Low-cost
tool for improving performance by setting objectives, implementing plan, evaluate performance
MBO (management by objectives)
MBO
MBO is about setting goals and then breaking these down into more specific objectives or key results. MBO involves (1) setting company-wide goals derived from corporate strategy, (2) determining team- and department-level goals, (3) collaboratively setting individual-level goals that are aligned with corporate strategy, (4) developing an action plan, and (5) periodically reviewing performance and revising goals.
Democratic decision making
Making choices among alternative courses of action, including inaction
Unfreezing
Making sure that organizational members are ready for and receptive to change
Centralization refers to decision making by:
Management
Centralization refers to decision-making by:
Management
_______ often refers to "the act of getting things done through the efforts of other people"
Management
Two Key approaches to setting goals?
Management by objectives (MBO) is a goal-setting framework primarily used when managers and employees collaborate on setting goals. The Balanced Scorecard, in constrast, is used by top managers to make sense of multiple performance measures at the organizational level.
A difference between management and leadership can be defined in the following way:
Management is getting things done, and leadership is inspiring action taken by others.
Strategic human resources management
Management strategy that reflects the aim of tying the organizations human capital, it's people, into the mission and vision.
Centralization refers to decision-making by:
Management.
Define: Authority/Division of Labor
Managers must have the authority to issue and enforce commands.
Why should managers understand how visual perception may be biased?
Managers rely on their visual perception to form their opinions about people and objects around them.
The changing demographics are most important to which major challenge?
Managing diversity
Which of the following is clearly linked to gaining a competitive advantage?
Managing human resources