GB 370 FINAL TERMS
ERG theory
Compresses Maslow's five need categories into three: existence, relatedness, and growth.
contingency planning
determination of alternative courses of action to be taken is an intended plan is unexpectedly disrupted or rendered inappropriate
competing values framework
developed by kim cameron and robert quinn this model is used for diagnosing an org cultural effectiveness and examining its fit within the environment
Sun Tzu
developed subdivisions, various rankings of authority, and the use of color as coordinations between units
Henry Gantt
developed the Gantt chart to measure and plan work - allowed for process of control
Max Weber
developed the idea that orgs should be formalized and legalistic in their operations
han dynasty outcome
development of beauarcracy
motivation two major compionents
direction and intensity
devils advocate
discourages groupthink
operating income
earnings before interest and taxes
who helped to pioneer the ideas of specialization of labor, span of control, and heiarchy of demand?
egyptians
values statement
either reaffirms or states outright the organizations values that might not be evident in the mission or vision statements
form I9
eleigabilty to work in US
agile manifesto
emphasized principeles of collaboration, self org, self direction, and regular reflection on how to work more effeciecntly and respond in real time to customer feedback
Hierarchy Culture
emphasizes efficiency, process and cost control, organizational improvement, technical expertise,
form w4
employee filing status and witholdings
Which of the following about high LMX is true
employees with this type of relationships generally perform better
general ledger
engine that runs your businesses accounting system day to day, summary of all transactions made
intraprenuers
entrepreneurs who apply their creativity, vision, and risk taking within a large corp rather than staring their own company
stages a business goes through
entreprenuersip, survival and early success, sustained success, renewal/decline
Simple, unstable environment
environements have a small number of external elements, elements are dissimilar and change rapidly
complex unstable enviornments
environments have a large number of external elements, elements are dissimilar and change rapidly
complex-stable environments
environments that have a large number of external elements, and element are dissimilar but change slowely
simple stable environmetns
environments that have a small number of external elements elements are similar and change slowly
Porter's Five Forces
evaluates the interconnected relationships between various actors in an industry including competing firms, their suppliers, and their customers, by examining the five forces: 1- industry rivalry 2- threat of new entrants 3- threat of substitutes 4- supplier power 5- buyer power
convergent thinking
evaluating potential answers to a problem
what can be a profitable growth strat for small biz
expanding into global markets
contingency schol
explained there were no universal laws in management, due to a wide variety of variables that influence relationships and create unique situations, and that each situation required a different response.
first mover advantage
exploiting an opportunity before any other firm does, does not mean you will win
renewal/decline formal system
extensive formal system
competitive environment
factors and situations both inside the firm and outside the firm that have the potential to impact its operations and successes.
christianity
faith based on the life, teachings, death, and resurrection of Jesus
t/f - it is free for a company to accept credit cards
false
t/f - jobs are required to provide retirement plans, health plans, and dental plans
false
t/f - organic org structure has one way communiction
false
t/f: Decentralized companies give more authority to a higher level employee, resulting in a sense of empowerment
false
t/f: it is a good idea for new businesses to use a checkbook and receipts system
false
main industry in adhocracy
fast paced indutries
asians are the __ growing minortiy
fastest
All of the following are reasons people resist change except ...
fear of success
motion studies
film studies of work
contact line of credit
finance labor and material costs involved in carrying out contracts
balance sheet
financial statement that provides snapshot of financial position
Henri Fayol administrative theory was
first general statement on management theory
t/f: which results in better employee and overall productivity
flat organizations
Market Culture
focuses on delivering value, competing, delivering shareholder value, goal achievement, driving and delivering results, speedy decisions, hard driving through barriers, directive, commanding, and getting things done.
clan culture
focuses on relationships, team building, commitment, empowering human development, engagement, mentoring, and coaching
clan culture
focuses on relationships, team building, commitment, empowering human development, engagement, mentoring, and coaching.
expatriate
foreign employee who moves and works in another country for an extended period of time.
____ are the official organization of the business and are typically hierarchical in nature
formal structures
Mary Parket Folett
found a way to utilize the tenants of the human relations movement to solve some of the issues with scientific management *resolving conflict without compromise or dominance
another word for external environment
general environment
executive managers
generally, a TEAM of individuals a the highest level of management within an organization
defined as development of an integrated global economy
globalization
main industry in heiarchy culture
gov agencies
Small Business Administration (SBA)
gov agency that speaks on behalf of small biz,
small business investment company (SBIC)
government regulated investment company that borrows money from the SBA to invest in or lend to a small business
who built forerunners of the modern corporation and guilds
greeks and romans
small business administration (SBA) does not make --- but provides alone guarantee to entrepreneurs, promising the bank a return if you are unable to
DIRECT loans
boundary conditions
Define the degree of discretion that is available to employees for self-directed action.
resource based view
Demonstrates how a diverse workforce can create a sustainable competitive advantage for organizations.
delphi groups
group process using written responses to a series of questionnaires instead of physical bringing individualist make a decision
identity groups
groups in society based on these individual differences
to gain a competitive advantage, a company's ___ __ must be difficult to copy and imitate
hR practices
quid pro quo
harassment that refers to exchange of rewards for sexual favors/ punishments for refusal
franchise benefits
have a customer base with reduced risk, but you have limitations
___ 2 fastest growing minortity
hispanics
__ highest labor participation rate
hispantics
centralization
hoe to manage flows of resources and info
internal dimension of organizations
how an orgs culture affects and influences its strategy
w2
how much each employee earned and how much fica was withheld
Which of the following is not one of the four processes that bind short term activity to long term objectives?
human resources
divisional structure
ideal for org that has products/ services specific to unique market segments
business interruption coverage
if natural disaster puts business out of order - pays for income loss while property coverage pays for rebuilding
appeal to tradition fallacy
if we have always done it a particular way, that is the best way
buyer power
in the relationship between the firm and its customers, buyers with high power can negotiate product price features, while buyers with low power cannot.
Nebechadnezzar outcome
incentives
demographics
income, education, age, and ethnic and racial composition of a population.
valence
index of how much an individual values a particular outcome
DHL Global Connected Index
index tracking the flow of capital, information, trade, and human resources and representing the degree of globalization.
schema theory
individuals encore information about others based on their demographic characteristics - patterns
what economic shift created the need for managers
industrial revolution
barriers to entry
industry factors (such as high star-up) that can prevent new firms from sucessfully launching new operations in that industry
emerging market multinationals
influential companies from emerging markets that are competing head-on with established multi-nationals and are rewriting the rules of competition by using new business models
For the balanced scorecard, which of the following does not fall under the section on learning and growth
information systems performance
open system
interacts with the environment to gain resources
exporting
international entry mode where a company sends a product to an international market and fills in the order like a domestic order
decisional entrepreneurial role
intitate projects that lead to improvements, delegate idea-generation responsibilities and decide what ideas to act on
Which of the following is not one of the four types of financial ratio that can enable you to compare trends in your business's financial performance
inventory ratios
Foreign Direct Investment (FDI)
involves a company funding buildings in another country with ownership in the company
bill of lading
issued to the exporter by the common carrier of the merchandise, says what is in the container
some of the first multinational corporations have their genesis during the
italian renessance
fixed assets
items for long term use (5+ years) - expensed over a period of time
Fredrick Winslow Taylor
known as the father of scientific management
stars
large shares in rapidly growing markets
cash cows
large shares of mature markets
legal factors pestel
laws impacting businesses such as those governing contracts and intellectual property rights and illegal activities, such as online piracy.
What 2 professionals are needed for a new business?
lawyer and accountant
conventional mindset
leaders assume most people are inclined to resisted change and need to be managed to encourage others to change
abundance based change
leaders assume that employees will change if they can be inspired to aim for greater degree of excellence in their work
types of power
legitimate power • coercive power • expert power • referent power • reward power
unsecured loan
lender is confident on biz and that the loan will be repaid on time
international franchising
licensing of complete business model - franchise pays royalty
llc
limited liability company, separate assets, liability protection
borrowing from a 401K
loan has to be repaid in 60 days if you loose your job
kotters change force is long or short term
long
CDC/504 loan program
long term, fixed rates for financing fixed assests
Which of the following is not one of the top 5 local challenge trends
lower innovation
interpersonal liaison role
maintain and manage info links inside and outside the org
Italian Renaissance
major leap of knowledge and learning that had economic and business implications
nominal groups
management by objective (MBO)
john florio outcome
managemnent to english language
inclusioni is ___ and ___ diversity
managing and valuing
which two competing value frameworks are externally focused
market and adhocracy
main industry in market culture
marketing and sales
Carl G. Bath
mathematician, developed a slide rule for determining how much steel to cut
which structure results in confusion to employees reporting to two bosses>
matrix because it combines vertical and horizontal
who proposed the five elements of buerarcracy
max weber
a consulting firm (in other words, a company that helps other businesses solve complex problems).
mckinsey
path lengths
measure of distance, avg number of links separating two nodes in a network
hueristics
mental shortcuts that allow a decision maker to reach a good decision quickly. strategies developed based on prior experience, saves time
Which of the following is considered a second string funding option that can have interest as high as 50%?
merchant cash advancw
must establish this if you want to accept credit cards
merchant status
nominal group technique
method of facilitating a group of people to produce a large number of ideas in a short amount of time
High-rigor cross-cultural training
methods of training where participants are much more actively engaged in the training process and can learn some tactict aspects of cross-cultural differences
survival and early success formal system extent
minimal formal system
entrepreneurship formal system extent
minimal to nonexistent
Fair Labor Standards Act
minimum wage & overtime
sba has special programs for what three groups
minorities, women, vets
Uppsala model of internationalization
model that argues that as firms learn more about a specific market, they become more committed by investing more resources into that market.
GLOBE project
more recent cultural project involving 170 researchers who collected data on 17000 managers from 62 countries around the world
Frank and Lillian Gilbreth contribution
motion studies
interpersonal leader role
motivate, train, counsel, communicate, and direct subordinates
immigration
movement of people from their home country to other countries, will continue to grow worldwide
gross earnings
net sales (after removing / allowances) minus costs of production
another word for domain
niche
traditional business model are failing through ____
nonadaption
fast follower
not a first mover, watch people use product then come out with better one\
environmental complexity
number of elements in the environment
sustained competitive advantage
occurs when a distinctive competence cannot be easily duplicated, what remains after all attempts at a strategic imitations cease
venture captial
one of the more popular forms of equity financing used to finance high risk, high return for businesses
employee handbook
one of the most important resources HR can provide to an org to mitigate risk
biz write offs have to be __ and __
ordinary and necessary
one of the most important internal dimension of an orgs effectiveness
org culture
through put
org subsystems and processes transform inputs through education manufacturing processes, etc
limited partnership
partnership in which only one partner is required to be a general partner
General Partnership
partnership in which partners share equally in both responsibility and liability
informational disseminator role
pass information to other in org
positive/appreciative mindset
people inclined to accept cahnge
social cognitive theory
people use categorization to simplify and cope with large amounts of info ex -stereotypes
Choose the correct equation that accurately describes performance
performance = motivation X ability X environment
interim loans
periodic payments to the contractors building new facilities - mortgage on building will be used to pay off loan
economic factors in pestel
pestel category that examines a firms external situation with respect to the natural environment, including pollution, natural resource availability and preservation, and alternative energy
___ has better results than letters when it comes to late payments
phone calls
Maslow's Hierarchy of Needs
phychological, security, belongingness, esteem, self actualization
types of organizational resources
physical, human, informational, financial
hajj
pilgrimage to mecca one in lifetime
Nebuchadnezzar
pioneer of development of incentives in that he gave greater rewards to workers that were productive
management is the process of
planning, organizing, directing, and controlling the activities of employees in combination with other resources to achieve organizational goals
five functions of management
planning, organizing, staffing, leading, controlling (directing) - created by henri fayol
Hofstede's Cultural Dimensions
power distance, individualism, masculinity, uncertainty avoidance, long-term orientation, IBM 4 main dimensions 1- power distance - degrees of acceptance of authority 2- individualism - degree to which society focuses on the individual compared to the group 3- uncertainty avoidance - degree to which people in society are comfortable with uncertainty 4- masculinity - degree to which society emphasizes masculine qualities
interpersonal figurehead role
preform formal duties like greeting visitors and signing docs
7a loan program
primary and most flexible, low interest rates, long repayment terms
basic unit of advertising
print ad
what allowed for the spread of ideas throughout europe?
printing press
org design
process of setting up org structures to address the needs of an org and account for the complexity involved in accomplishing business objectives
Which of the following about professional employer organizations is false?
professional employee organizations and temporary help companies provide the same service
adhocracy culture
profile of an organization emphasizes creating, innovating, visioning the future, managing change, risk-taking, rule-breaking, experimentation, entrepreneurship, and uncertainty.
leader ember exchange (LMX)
proposes that the type of relationship leaders have with their employees is the key to understanding how leaders influence employees; in group vs out group, scapegoating
replacement cost insurance provides
protection from inflation
- Which of the following is not a basic employee benefit required by law
provide a retirement plan
commercial finance group
provides finance solutions to small and midsize companies
builders line program
provides financing for small contractors or develops to construct property to be sold to a 3rd party
best strategy for effective an fair performance managemetn
real time communication and documentation of issues
appeal to emotion fallacy
redirects the argument from logic to emotin
overall cost leadership
reduce manufacturing and other costs
Which is the best way to address perceived inequity
reduce one's own inputs or increase one's own outputs
depreciatoin
reduction in value of a fixed asset over its expected life
power distance
refers to the degree to which societies accept power differences and authority in society
justification surpression model
Explains under what conditions individuals act on their predjudices
FICA
FICA social security and medicare tax
cultural intelligence
refers to the individuals capabilities to function and manage effectively in culturally diverse settings
SHRM strategic human resources management
reflects the aim of integrating the organization's human capital (people) into the mission and vision
islam
religion whose essence is described in the Qur'an as the submission to the will of Allah
hinduism
represented by all those who honor the ancient scriptures the Vedas
clusters
representing countries that share similar characteristics
decisional negotiator role
represents in contracts
revenue streams
represents the cash a company generates from each customer segment
secured loan
required collateral but has lower interest rates than unsecured loan , used for real estate purchases and loans longer than 12 months
form 1099
required if you pay an IC moer than 600 a year
elton mayo
researched, theorized, and developed human relations theory based on an experiment at the Hawthorne plant on how to manage workers and improve production *nonmonetary incentives*
- What does OSHA have domain over?
safety of employees (occupational safety and health admin)
span of control
scope of work someone is accountable for
mallows hierarchy of needs
security, belongingness, esteem, self actualization
informational monitor role
seek and receive information from a variety of sources
4 parts of emotional intelligence
self awareness, self regulation, social skills, empathy
#1 form of financing used by most business startups
self financing
value chain
sequence of activities that firms preform to turn inputs (parts/supplies) into outputs (goods/services)
line of credit loan
short term, most useful for small businesses for inventory and operating costs
business model concept must be what three things
simple, relevant, and understandable
cash method of accounting
simple, used commonly, track cash flow
Which of the following is not one of the many types of venture capital?
small business loan
dogs
small market shares, no growth prospects
8a Business development program
socially and economically disadvantaged companies allow to enter the federal procurement market and economic mainstream
what are the five elements of buerarcracy
specialization, command and control, span of control, centralization, and formalization
organizational development
specialized field that focuses on how to design and manage change
local content requirements
specific fraction of a good must be produced domestically
mechanistic org structures are stable or unstable
stable
environmental change
stable vs unstable
romans outcome
standardization
According to Fielder, which of the following is not one of the three conditions creating situational favorableness
strategic position
unity of command
stresses each worker should only have one supervisor
accounts payable
sub ledger used to track purchases and assets from suppliers
cognitive diverse hypothesis
suggests that multiple perspectives stemming from cultural differences between group and org members result in creative problem soling and innovation
we can track the development of management from its development under the ___
sumerians
who provided the concepts of writing and record keeping that allowed urban economies to develop which allowed for small biz to develop
sumerians
decisional disturbance handler role
take corrective actions when conflict arises
Chester Barnard argued what
that the executive purpose was to gain resources from members within the org by ensuring they preform their jobs and that cooperation exists between various groups within the org
what saw a reemergence of trade?
the Italian renessacne
strategic objectives
the big-picture goals for the company : what the company will do to try to fulfill its mission
corporate strategy
the broadest level of strategy, concerned with decisions about growing, maintaining, or shrinking very large companies, focuses on multi-level business corporations
nine resilience lens
the capacity of a company or other org to adapt and prosper in the face of high impact, low prob risks
bounded rationality
the concept when we make decisions, we cannot be fully rational because we do not have all the possible information or the cognitive processing ability to make fully informed, completely rational decisons
what brought new knowledge from the muslim and chinese societies as well as a rediscovery of trade throughout europe?
the crusades and various travelers
formalization
the degree of definition in the roles that exist throughout an org
functional structure
the earliest and most used organizational designs
risk propensity
the extent to which a decision maker is willing to gamble when making a decision
What did Adam Smith propose?
the ideas of division of labor, specialization, and coordination within a corporation
glass ceilign
the lack of advancement opportunities awarded to qualified women
first-line management
the level of management directly directly managing non managerial employees
middle management
the managers in an organization at a level just below senior administration
macro environment
the middle layer of elements in a firms external environment, primarily concerned with a firms industry situation.
key partnerships
the network of suppliers and partners that make the business model work
organic organizational structures
the opposite of a functional org form that works best in unstable, complex changing environements
Accrual Method of Accounting
the practice of recording economic activity when recognized rather than waiting until realized
domain
the purpose of the org from which strategies, org capabilities, resources, and management systems are mobilized to support the enterprises purpose
strategic managment
the set of activities that firm managers undertake to put their firms in the best possible position to compete successfully in the marketplace.
human captial
the skills, knowledge and experience by an individual or group that add value to an organizatioin
confirmation bias
the tendency to pay attention only to information that supports one's values and beliefs while discounting or ignoring information that doesn't
Society for Human Resource Management (SHRM)
the worlds largest HR professional society
modern management is based on ___
theory
Despite potential benefits, the disadvantages of a matrix structure include which of the following ?
there is potential for interpersonal conflict with team members as well as with leaders
emerging markets
those markets in countries that present tremendous potential for multinationals
what constraint makes us rely on heuristics rather than engage in deep processing
time constraints
primary strategy of auto insurance
to increase your deductible then your premiums will decrease accordingly
Fayol focused on __ managers while Weber focused on __ managers
top, middle
save money on insurance through obtaining it through a __ or __
trade group or association
low-rigor cross cultural training
training where individuals are exposed to critical information to help them understand the realities of a different culture but are not actively engaged in their learning.
hidden diverstiy
traits that are deep-level but may be concealed/revealed at the discretion of the individuals who posses them (sexual orientation, hidden diaabilti, mixed, etc)
informational spokesperson role
transmit info to others outside the org
t/f: non profits still have to pay employment taxes
true
international strategic alliances
two or more companies from different countries enter into an agreement to conduct joint business activities
letter of credit
typically used in international trade
focus of the GLOBE Framework
understand how national cultures have preferences for different leadership styles. clusters society that share similar characteristics
lewis change model
unfree, move, refreeze
What is the rule of continuity for general partnerships?
unless the partnership makes certain provisions, the business dissolves
organic org structures are stable or unstable
unstable
venture capital
Financing obtained from venture capitalists, investment firms that specialize in financing small, high-growth companies and receive an ownership interest and a voice in management in return for their money.
Accounts Receivable
used to track who owes and how much it is due
access-and-legitimacy perspective
Focuses on the benefits that a diverse workforce can bring to a business that wishes to operate within a diverse set of markets or with culturally diverse clients.
support activities
value chain activities that a firm preforms to sustain itself, do not directly create a product or service but are necessary to support the firms existence such as accounting and human resources
world trading system• used to be called__ now __
GATT (general agreement on tariffs and trade) , two
difference vs vision and mission statement
vision is what it hopes to accomplish, mission is how it plans to accomplish
business-level strategy
ways that single-product firms organize their activities to succeed against rivals, at this level include cost leadership and differentiation, focuses on a single product or product line
Which of the following statements about perception is true
we do not solely respond to stimuli in our environment
pooled interdependence
when units operate with little interaction
global strategy
where all operations and activities are managed fairly similarly worldwide
main industry in clan culture
HR
CAPLine
with a fixed line of credit you borrow a flat amount and pay it back over a particular period
IRA (Individual Retirement Account)
withdrawal as long as you replace within 60 days, no interest - not a loan
roth ira
withdrawals are tax and penalty free as long as money has been in the account for more than 5 years - taxed when you put the money in
short -term vs long term
within a year , over a year
the basic business insurance package consists of what four fundamental coverages
workers comp, general liability, auto, property / casualty
zone of indifference
workers would comply with orders if they were indifferent to them. * don't have to agree with orders, have to be indifferent in order to follow
globalization
worldwide phenomenon whereby the countries of the world are becoming more interconnected and where trade barriers are disappearing
Sumerians outcome
writing and trade
hammarabi outcome
written commands and controls
genetic fallacy
you cant trust something because of its origin, stereotypes
who created the 14 and 5 principles of management?
Henri Fayol
socio-cultural environment forces
Include different generations' values, beliefs, attitudes and habits and lifestyles
angel investors
Individual investors or groups of experienced investors who provide financing for start-up businesses by investing their own funds.
cultural paradox
Insights from an understanding of culture may not necessarily coincide with reality in that culture
culture change
Involves reshaping and reimagining the core identity of the organization.
extrinsic motivation
Occurs when a person performs a given behavior to acquire something that will satisfy a lower-order need.
decisional role
One of the three major roles that a manager assumes in the organization. Managers make decisions, and take advantage of opportunities. This role involves decision making; entrepreneur, disturbance handler, resource allocator and negotiator.
emergent or bottom up approach
Organizations exist as socially constructed systems in which people are constantly making sense of and enacting an organizational reality as they interact with others in a system.
sociocultural factors
PESTEL category that identifies trends, facts, and changes in society's composition, tastes, and behaviors, including demographics.
question marks / problem children
Products in a BCG matrix that compete in high market growth industries, but have low market share. They consume lots of cash but do not generate much profit, if any.
equity theory
States that human motivation is affected by the outcomes people receive for their inputs, compared to the outcomes and inputs of other people.
human resources compliance
The HR role to ensure adherence to laws and regulations that govern the employment relationship.
C Corporation
The most common type of corporation, which is a legal business entity that offers limited liability to all of its owners, who are called stockholders
cost accounting
The process of allocating all costs associated with generating a sale, both direct & indirect
Sole Proprietorship
The simplest form of business, in which the owner is the business. The owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business.
escalation of commitment
The tendency of decision makers to remain committed to poor decision, even when doing so leads to increasingly negative outcomes. "staying the course"
contingency theory of leadership
The theory that leadership effectiveness depends both on how task-oriented or relationship-oriented the leader is, and on the amount of control and influence the leader has over the group
employee life cycle
The various stages of engagement of an employee—attraction, recruitment, onboarding, development, retention, separation.
interpersonal role
This role involves human interactions; figurehead, leader and liaison. Inside and outside work units. one of three major managerial roles
informational role
This role involves the sharing and analyzing of information; monitor, disseminator and spokesperson. one of the three major managerial roles
what is a good strategy for managing competitive advantages
VRIO
what war used the merit rating system
WW1 to identify poor performers
suppression of dissent
When a group member exerts his or her power to prevent others from voicing their thoughts or opinions.
horizontal org structures
a "flatter" org structure often found in matrix orgs where individuals relish the breath and development that their team offers
vision statement
a broad expression of what a business's founders want that business to accomplish.
critical thinking
a disciplined process of evaluating the quality of information, especially by identifying logical fallacies in arguements
equity
a form of business financing consisting of funds raised through the sale of stock (ownership) in a busnienss
business plan
a formal written statement that describes in detail the idea for a new business and how it will be carried out - includes a general description for the company, qualification of the owner, description of the product/service, analysis of the market, and a financial plan
focus strategy
a generic business-level competitive strategy that firms use in combination with either a cost-leadership or differential strategy in order to target a smaller demographic or geographic market with specialized products or services
cost leadership strategy
a generic business-level strategy in which a firm tightly controls costs throughout its value chain activities in order to offer customers low-priced goods and services at a profit, saves money by offering low priced goods
differentiation strategy
a generic business-level strategy in which firms add value to their products and services in order to attract customers willing to pay a higher price
complex adaptive systems
a model that views organizations as constantly developing and adapting to their environment
coalitions
a positive or negative political force in decision making which constitute of an informal alliance of individuals or groups formed to achieve a goal
maximizing shareholder wealth
a rationalization for placing the importance of short-term profits over the needs of other who will be affected by a decsion
model minority myth
a reflection of perceptions targeting asians that contract successful stereotypes of men with rebellious stereotypes of women
PESTEL Analysis
a strategic analysis tool that examines several distinct categories in macro environment Political Economic Sociocultural Technological Environmental Legal
org structure
a system of accomplishing and connecting the activities that occur within a work org
BCG matrix
a tool used to evaluate the various business unites in a corporation
sustain success formal system
basic, maturing, developing formal system
mechanistic org structures
best suited for environments that range from stable and simple to low-moderate uncertainty and have a "formal" pyramid structure
__ face the most discrim
blacks
integration
both parties state their preferences to reach an agreement
Joan Woodward
british scholar 1950-1960. argued that contingencies such as technology play a role in how much training workers should recieve.
administrative policies
bureaucratic riles that are designed to make it difficult for imports to enter a country
vertical integration
buying something that makes what goes into something else (who makes the stuff that goes into soap)
group level change
centers on the relationships between people and focuses on helping people work more effectively together
CDC
certified development company, nonprofit
satisficing
choosing the first acceptable solution to minimize time spent on a decison for the overall best solution
which two competing value frameworks are internally focused>
clan and heirarchy
globalization
combination of external forces shaping an orgs environment
local strategy
companies operations are adapted to fit some specific companies
born globals
companies that operate internationally from the day they were created
3 categories of resilience:
- Structural resilience - Integrative resilience - Transformative resilience
non sequitur fallacy
conclusion isn't logical, isn't the only logical conclusion
shahada
confession - believing and professing in islam
McKinsey 7S Model
-shared values -structure -strategy -style -staff -skills -systems A popular depiction of internal org dimenstions
transpacific partnership
-worlds largest free trade agreement - america withdrew, everyone went ahead - didnt work
2 most significant assets when running a business
1 cash and 2 level of control
process conflict
conflict about the best way to do something, conflict that is task oriented and constructive, and not focused on the individuals involved
cognitive dissonance
conflict individuals experience among their own attitudes
business lenders
consider management ability and character
pitch deck
consider version of business plan
liscencing
contractual agreement where in exchange for a royalty/fee a company gives the right to another company to use a trademark, etc *specific asset
two of themes critical human resource management processes within an organization
1- talent development 2- secession plannihgn
6 opportunities a company reaps through diversity
cost, resource acquisition, system flex, marketing, problem solving, creativity
adhocracy culture
creates an environment of innovating, visioning the future, accepting of managing charge, and risk taking, rule-breaking, experimentation, entrepreneurship, and uncertainty
lenders base loans on what 4 cs
credit, character, capacity, collateral
three types of change
cultural, structural, technological
9 building blocks of business model canvas
customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key actives, key partnerships, and cost structure
4 main areas of business
customers, offer, infrastructure, and financial viability
Family and Medical Leave Act
12 wks unpaid leave
industrial revolution
1760-1900 saw the emergence of the modern factory
baby boomer gen
1946-1964
partnership
2+ people. same basic properties as sole proprietorship
The Code of Hammurabi
282 laws that regulated conduct on a wide variety of behaviors, including business dealing, personnel behavior, interpersonal relations, and a wide variety of other outcomes
invoices should be sent at least ___ days before payment is expected
3
age discrimination employment act protect ___
40+
max employees a small biz can have
500
prayer
5x day while facing mecca
Worker Adjustment and Retraining Notification Act (WARN)
60 days notice for layoff notice for companies with over 100 employees
most widely used model of change kotters
8 steps
80/20 rule
80 % of your business comes from 20 % of your customer base
National Labor Relations Act
A 1935 law, also known as the Wagner Act, that guarantees workers the right of collective bargaining sets down rules to protect unions and organizers, and created the National Labor Relations Board to regulate labor-managment relations. *unionization
access discrimination
A catchall term that describes when people are denied employment opportunities because of their identity group or personal characteristics such as sex, race, or age.
income statement
A financial statement showing the revenue and expenses for a fiscal period.
networked team structure
A form of the horizontal organization.
s corp
A legal entity that offers limited liability with single taxation., shareholders limited
9-box
A matrix tool used to evaluate an organization's talent pool based on performance and potential factors.
appreciative inquiry model
A model specifically designed as an abundance-based, bottom-up, positive approach.
covert discrimination (interpersonal)
An interpersonal form of discrimination that manifests in ways that are not visible or readily identifiable.
intrinsic motivation
Arises out of performing a behavior in and of itself, because it is interesting or "fun" to do.
MVP (minimum viable product)
Bare minimum product that can be released. The simplest possible offering, in terms of product functionality and operational capabilities needed to deliver the product's functionality, required to rigorously disprove a business model hypothesis
decisional resources allocator role
decides who receives resources, manages schedules and budgets, and sets priorities
three major roles a manager assumes in an organization
decisional role, informational role, and interpersonal role
Modern Bureaucracy
decisions should be made on a formal basis, rather than what a bureaucrat felt was correct. Weber stressed that knowledge, not birth circumstances, should be the basis of hiring and promotion.
Which of followings not one of the top 5 global solution trends?
decreasing collaboration
corporate culture
defines how motivating employees belifefs, behaviors, relationships, and the way they work creates a culture that is based on values that the org believes in
customer segments
defines the different groups of people/ orgs an enterprise aims to reach and serve
charismatic type
degree to which a leader can motivate and inspire others
autonomous type
degree to which leader reflects independent and individualistic leadership
participative type
degree to which leaders involve others in decision making
self-protective type
degree to which the leader is self-centered and using face-saving approach
humane-oriented type
degree to which the leader shows compassion and generosity
individualism
degree which a society focuses on the relationship of the individual to the group.
channels
describes how a company communicates with and reaches its customer segments to deliver a value prop
value propostions
describes the bundle of products and services that create value for a specific customer segment *solves a customer problem or satisfies a customer need*
key resources
describes the most important ASSETS required to make a business model work
key activities
describes the most important things a company must DO to make business model work
business model
describes the rationale of how an org creates and delivers and captures value
customer relationships
describes the types of relationships a company establishes with specific customer segments
latent needs
Cannot be inferred from a person's behavior at a given time, yet the person may still possess those needs.
war for talent
Coined by McKinsey & Company in 1997, it refers to the increasing competition for recruiting and retaining talented employees.
divisional structure
an organizational structure characterized by functional departments grouped under a division head.
matrix structure
an organizational structure close in approach to organic systems that attempt to respond to environmental uncertainty, complexity, and instability
VRIO
analytical tool that evaluates a firms resources and capabilities to determine if it can or cannot support an advantage for the firm in a competitive environment - Value, Rarity, Imitability, Organization
earth angels
anyone who invests their money in an entrepreneurial company, not motivated solely by profit
hedonism
assumes that people are motivated to satisfy mainly their own needs - seek pleasure avoid pain
false cause fallacy
assuming because two things are related - 1 caused the other
ad hominem fallacy
attack the man, redirects from the arguments itself to attack the person making the arguement
italians outcome
accounting, corporations, multinational corporations
4 drivers for motivation
acquire, bond, comprehend, defend
cost structure
all costs incurred to create a business model
zakat
almsgiving, donating income
SMART framework
an acronym for the characteristics of good goals: specific, measurable, achievable, relevant, and time-bound.
Which form of justice refers to the degree to which the outputs received from organizations are fair
distributive justice
deep level diversity
diversity beyond appearance (attitudes, values, and beliefs)
__ helps prevent group think
diverstiy
ancient greeks outcome
division of labor
ancient egyptians outcome
division of labor, coordination, span of control
fasting
during ramadam