Management 312 Final Exam Study Guide
Alan Turning
- 1912 - 1954 - father of artificial intelligence
data mining
- a class of information analysis based on databases that looks for hidden patterns in a collection of data which can be used to predict future behavior - classification - cluster analytics - association - visualization
business analytics
- a collection of tools for manipulating, mining, and analyzing data in the data warehouse - the tools that help users transform data into knowledge (ex: queries, data/text mining tools, etc.)
characteristics of intelligent agents
- adaptability - autonomy - collaborative behavior - humanlike interface - mobility - reactivity
interfacing
- between a human and a computer - accepting human language as input - carrying out the corresponding command - generating the necessary output
artificial intelligence (AI)
- consists of related technologies that try to simulate and reproduce human thought behavior, including thinking, speaking, feeling, and reasoning. - apply computers to areas that require knowledge, perception, reasoning, understanding, and cognitive abilities - is beyond calculation - powerful calculations, find patterns out of data - generates and displays knowledge and facts - machine learning
architecture of BI/A, four major components:
- data warehouse - business analytics - business performance management (BPM) - a user interface
categories of NLP
- interface to database - machine translation (google translation) - text scanning and intelligent indexing programs for summarizing large amounts of text - generating text for automated production of standard documents - speech systems for voice interaction with computers
Business Intelligence/Analytics
- is an umbrella term that combines architectures, tools, database, analytic tools, applications, and mythologies for making business decisions - is a content-free expression, so it means different things to different people
turing test
- test the degree to which a machines intelligence level is close to that of a human being - a test of a machine's ability to demonstrate intelligence
knowledge acquisition
- using the computer to read large amounts of text and understand the information well enough to summarize important points and some information so the system can respond to inquires about the content
big data is characterized by three V's:
- volume: business have increasingly huge amounts of data - variety: data are in many formats - numeric, log file, location data, text, etc. - velocity: real time, speed the data is constantly coming in
natural language processing (NLP)
- was developed so users could communicate with computers in human language - question and answer - complexity of human language
GIS for Transnational Structure
-A higher level of standardization and uniformity for global efficiency -universal data directories -standard databases -However, must maintain local responsiveness
GIS for Global Structure
-Highly centralized information system -Extensive communication network necessary -Integration needed to manage production, marketing, and HR is difficult (McDonald's, GM, KFC, etc.)
GIS for International Structure
-Info system personnel are regularly exchanged among locations -Encourages a cooperative culture in geographically dispersed personnel
effective communicator
-intended message is accurately understood by other people
Obstacles of Using GIS
-lack of standardization (e.g. time zone, taxes, language, and work habits) -Cultural differences (cultural competence) -Diverse Regulatory Practices -Pour telecommunication infrastructures -Lack of skilled analysts and programmers
sender
-person wanting to share information
result of group think
-reduction in alternative ideas -limiting of other information
communication
-transfer of information from one person to another
BI helps:
-transform data to information (and knowledge) to decisions and finally to action
Esteem Needs
...
Physiological Needs
...
Safety Needs
...
Self-Actualization Needs
...
Two-Factory Theory
...
Elements of a Domain name
.com, .gov, etc.
dependent demand
Demand that depends upon decisions made by internal operations managers
DMZ
Demilitarized Zone- an area of the network that is separate from the organization's LAN (local area network)
1969
Department of Defense project called Advanced Research Projects Agency Network (ARPANET)
Which of the following does NOT apply to practice standard 500-2, which provides that the financial planning practitioner shall select appropriate products and services that are consistent with the client's _________.
Desires
Natural Language Processing (NLP)
Developed so users could communicate with computers in human language -Question and answer -Complexity of Human Language *Human language is complex - it is hard for a computer to judge the sentiment of things (tweet example)
Differentiation
Distinguishing the offerings of an organization in a way that the customer perceives as adding value.
Distributed processing
Distributed among several locations Main advantage is fault tolerance and organizational growth Main disadvantage security and privacy troubles and harder to manage
Allocating E & P to Distributions - If positive balance in both current and accumulated E & P
Distributions made first from current E & P and then from accumulated
Qualified Dividends - How to qualify for lower rates (2 ways)
Dividends must be paid by domestic or certain qualified foreign corps., paid on stock held > 60 days during 121 period beginning 60 days before ex-dividend date,
Need for Achievment
Drive to excel and succeed
Establishing credibility
Employees will have more confidence in the managers leadership abilities if the manager demonstrates consistent ability to make well informed, sound decisions. This is in reference to which key point for practicing persuasion?
Compressed Workweek
Employees work longer hours per day but fewer days per week
VR Terms: Interaction
Enabling users to act on objects in a VR environment
Experience Differentiation
Engaging a customer with a product through imaginative use of the five senses, so the customer experiences the product.
Fitness Standards
Ensure specific character and fitness standards as to an individual's conduct before certification.
Rules of Conduct
Establish expected high standards and also describe the level of professionalism required. The Rules of Conduct govern all those who have the right to use the CFP marks, whether or not those marks are actually used.
Practice Standards
Establish the level of professional practice expected of certificants engaged in financial planning. The practice standards are mandatory for all certificants whose services include financial planning or material elements of financial planning.
The CFP board is a certification and standard-setting organization that
Establishes and enforces education requirements for CFP certificants, Establishes and enforces examination requirements for CFP certificants, and Establishes and enforces ethics requirements for CFP certificants.
Speed ¬ Why is speed important to businesses?
Everything you need to know to conduct business is easily accessible. The speed at which you access pertinent information may not produce success but it will no longer prevent success.
Taxable dividends - excess distribution over basis is__________
Excess distribution over basis is gain
Stock Dividends - Treatment
Excluded from income if distribution paid on common stock
Secondary industry sources
Existing data available; often repackaged primary source data; is available to your competitors and can become outdated rather quickly (can be costly)
Discuss the hearing process and forms of discipline under the disciplinary Rules and Procedures.
Explain
Discuss the investigative process under the Disciplinary Rules and Procedures
Explain
Discuss the purpose of the publication of anonymous case histories.
Explain
Discuss what are the Disciplinary Rules and Procedures
Explain
What is the code of Ethics and Professional Responsibility (Code of Ethics)?
Explain
The internet is owned and regulated by the US Govt, specifically the DOD
FALSE
Raw data
Facts and figures
Upwards
Financial and accounting information flow which way in the formal communication channels?
Strategic Control
Focuses on how effectively the organizations strategies are succeeding in helping the organization meet its goals
Operations Control
Focuses on the process the organization uses to transform resources into products or services
VR Terms: Immersion
Giving users the feeling of being part of an environment
Superordinate Goals
Higher-level goals taking priority over specific individual or group goals
HTTP
Hypertext transfer protocol which is used to transfer web pages
Why is prediction important to businesses? Can BI predict perfectly?
In addition to describing where your organization is, business intelligence systems can describe where your organization has been and potentially where it is going. With enough of the right kinds of information these systems can even predict how decisions will impact both your organization and the environment surrounding your organization
Outcome/input (O/I)
In equity theory, an employee's perception of how the rewards received from an organization compare with the employee's contribution to that organization.
Open Communication
In this environment people know where they stand and what rules they need to play by
Performance Feedback
Information about the quality or quantity of past performance that indicates whether progress is being made toward the accomplishment of a goal.
2 Types of Activities by NLP
Interfacing: Accepting human language as input, carrying out the corresponding command, generating the necessary output Knowledge Acquisition: Using the computer to read large amounts of text and understand the information well enough to : summarize important points and store info so the system can respond to inquiries about the content
Product Life Stages
Introduction, Growth, Maturity, and Decline.
Rose is employed as a loan officer at a bank. Rose recently sat down and visited with her financial planner Julie, a CFP professional. Rose was in need of cash and borrowed $15,000 from Kulie. Based on Rule 3.7 of the CFP rules of Conduct (A certificant shall not lend money to a client.), which of the following statements is accurate?
Jile is in violation of the rule.
Downwards
Job instructions and rationale flow which way in the formal communication channels?
Hierarchy of Needs Theory
Lower-order (external): physiological, safety Higher-order (internal): social, esteem, self-actualization
Quick Response Codes (QR)
Matrix barcode, black modules arranged in a square pattern on a white background -High Storage Capacity -Small printout size -Dirt and dust resistance -Readable from any direction -You can create AR code (e.g. Use Google URL shortener) for any webpage
virtual team
Members interact by computer network to collaborate on projects
Calculating E & P - 179 expense
Must be deducted over 5 years, increase E & P by 80% in year 1, decrease E & P by 20% in years 2-5
Volatile
Must have power to function
1987
National Science Foundation Networks (NSFNET) signifies birth of the internet
Strengths
Natural talents and abilities that have been supported and reinforced with learned knowledge and skills
Allocating E & P to Distributions - if accumulated E & P is positive and current E & P is a deficit
Net both at date of distribution, if balance is zero or less distribution is return of capital, is balance is positive distribution is dividend to extent of balance
Extranets
Networks that allow companies to exchange information and conduct transactions with outsiders by providing them direct, web-based access to authorized parts of a company's intranet or information system.
Treatment of distributions in excess of E & P
Nontaxable to extend of shareholders basis, Ex. return of capital
Secondary Memory
Nonvolatile, holds data when the computer is off or during the course of a program's operation. It also serves as archival storage
Read-Only Memory (ROM)
Nonvolatile; data can not be written to ROM
Three Time Estimates in PERT
Optimistic Time: Time an activity will take if everything goes as planned. In estimating this value, there should be only a small probability that the activity time will be less than a. Pessimistic Time: Time an activity will take assuming very unfavorable conditions. In estimating this value, there should also be only a small probability that the activity time will be more than b. Most Likely Time: most realistic estimate of the time required to complete an activity.
Requirements of GIS
Overall, a GIS must be capable of supporting complex global decisions
Elements of Search Engine Optimization
Page title, content, keywords, links, and inbound links. Keywords help with search engines when describing the company. Inbound links help bc they can be within other websites helping people to see your website
Arithmetic Logic Unit (ALU)
Performs arithmetic operations (+,-,*,/) as well as comparison or relational operations (<,>,=);the latter are used to comparative numbers
PESTEL Analysis
Political Economic Social Technological Environmental Legal
4 stages in the creative process
Preparation (looking at a problem from a variety of perspectives) Incubation (letting the problem lie in the subconscious for some time) Illumination (discovery of a solution) Verification (bring the idea to an outcome)
Bob, a CFP professional, has developed a comprehensive financial plan ofr his client, Sue. Based on the CFP board PRactice Standards which of the following should Bob do next?
Present the financial plan to Sue
Objectivity
Principle 2. Requires intellectual honesty and impartiality.
Competence
Principle 3. Requires attaining and maintaining an adequate level of knowledge and skill, and application of that knowledge and skill in providing services to clients.
Confidentiality
Principle 5. Ensuring that information is accessible only to those authorized to have access.
Professionalism
Principle 6. Requires behaving with dignity and courtesy to clients, fellow professionals, and others in business-related activities.
Upwards
Problems and exceptions flow which way in the formal communication channels?
Accounting Audits
Procedures used to verify accounting reports and statements
The Fiedler contingency model
Proposed that effective group performance depended upon the proper match between the leaders style of interacting with his followers, and the degree to which the situation allowed the leader to control and influence.
Equity Theory
Proposes that employees perceive what they get from a job situation (outcomes) in relation to what they put in (inputs) and then compare their inputs-outcomes ratio with the inputs-outcomes ratios of relevant others.
Goal-Setting Theory
Proposes that setting goals that are accepted, specific, and challenging yet achievable will result in higher performance than having no or easy goals.
3 rules of creativity
Quantity over quality Capture every idea, no matter how outlandish it may seem Piggyback on ideas and create new combinations/modifications
Operational- Automation
Reduces costs and increases the speed of performance of activities; process of computerizing manual tasks making them more efficient and effective. Dramatically lowering operational costs
Improvement can be achieved in 2 ways:
Reducing inputs while keeping output constant or increasing output while keeping inputs constant. Both represent an improvement in productivity.
Extinction
Reinforcement in which a positive consequence is no longer allowed to follow a previously reinforced behavior, thus weakening the behavior.
Negative reinforcement
Reinforcement that strengthens behavior by withholding an unpleasant consequence when employees perform specific behavior.
Positive Reinforcement
Reinforcement that strengthens behaviors by following behaviors with desirable consequences.
Punishment
Reinforcement that weakens behavior by following behaviors with undesirable consequences.
Schedule of reinforcement
Rules that specify which behaviors will be reinforced, which consequences will follow those behaviors, and the schedule by which those consequences will be delivered.
Stock Attribution - Estates/Trusts
Same as Partnerships
Extranet
Secure Network -Uses the internet and web technologies to connect intranets of business partners (related companies, users, organizations)
Input Devices
Send data and information to the computer. Examples include keyboards and mouses
Constructive Dividends - Examples
Shareholder use of corp. property at reduced cost, bargain sale to shareholder, bargain rental of corp. property, low interest rates to shareholders, unreasonable compensation, payments by corp. to satisfy shareholders obligation
E-Commerce Life Cycle
Sharing Information, ordering, payment, fulfillment, and service/support Better than brick and mortar bc ordering and payment are made a lot easier
Crashing
Shortening activity time in a network to reduce time on the critical path so total completion time is reduced.
Computer Literacy
Skill in using productivity software, such as word processors, spreadsheets, database management systems, and presentation software, as well as having a basic knowledge of hardware and software, the Internet, and collaboration tools and technologies
Radio Frequency Identification (RFID) Tag
Small electronic device consisting of a small chip and an antenna -Provides a unique identification for the card or the object carrying the tag -Do not have to be in contact with the scanner to be read -Can be read from a distance of about 20 feet
OLAP ¬ Online Analysis Processing
Software that allows users to explore data from a number of perspectives. Top¬down processing that creates intelligence through the known or understood relationships between organizational variables.
Virtual private network (VPN)
Software that securely encrypts data sent by employees outside the company network, decrypts the data when they arrive within the company computer network, and does the same when data are sent back to employees outside the network.
Anonymous Case Hisotires
Summary of the relevant events in certain cases of misconduct, accompanied by an explanation of any disciplinary penalty, action by CFP board and other information.
The Fiedler model was based on the premise
That a certain leadership style would be more effective in different types of situations.
planned order release
The amount of an item that is planned to be ordered in a period
planned order receipt
The amount that is planned to arrive at the beginning of a period
1. The ability to handle multiple cues simultaneously 2. The ability to facilitate rapid, two-way feedback 3. The ability to establish a personal focus for the communication
The capacity of an information channel is influenced by three characteristics. What are they?
Situation Model
The characteristics of followers in determining appropriate leadership behavior. Willingness and ability a subordinate demonstrates while preforming a specific task
Feedforward Control
The control process used before operations begin, including policies, procedures, and rules designed to ensure that planned activities are carried out properly
Concurrent Control
The control process used while plans are being carried out, including directing, monitoring, and fine-tuning activities as they are performed
Retrieval cost
The cost of accessing already-stored and processed information.
Lazier-faire leadership style
The leader style in which the leader generally gives he group complete freedom to make decisions and complete the work in whatever way it sees fit.
Expectancy
The perceived relationship between performance and rewards.
Instrumentality
The perceived relationship between performance and rewards.
Needs
The physical or psychological requirements that must be met to ensure survival and well-being.
Business
The practice of making one's living by engaging in commerce. As with analytics, business happens on a continuum ranging from person¬to-person to nation¬to¬nation. Wherever goods or services of value are transferred between parties, business happens.
Unsupervised data mining
The process when the user simply tells the data mining software to uncover whatever patterns and relationships it can find in a data set.
Supervised data mining
The process when the user tells the data mining software to look and test for specific patterns and relationships in a data set.
Mission
The purpose or rationale for an organization's existence.
Productivity
The ratio of outputs (goods and services) divided by one or more inputs (such as labor, capital, or management).
Service Sector
The segment of the economy that includes trade, financial, lodging, education, legal, medical, and other professional occupations.
Empowerment
The sharing of decisions, information, and responsibility with others.
First-mover advantage
The strategic advantage that companies earn by being the first to use new information technology to substantially lower costs or to make a product or service different from that of competitors.
Market
The sum of all customers who need a product/service, have the ability to pay for this, AND are willing to pay for it
Goal-setting Theory
The theory that people will be motivated to the extent to which they accept specific, challenging goals and receive feedback that indicates their progress toward goal achievement.
Expectancy Theory
The theory that people will be motivated to the extent to which they believe that their efforts will lead to good performance, that good performance will be rewarded, and that they will be offered attractive rewards.
Critical Success Factors ¬ How do we identify critical success factors in organizations?
The things that an organization must excel at to be successful in its market space
Productivity Variables
The three factors critical to productivity improvement -labor(10%), capital(38%), and management(52%).
Data encryption
The transformation of data into complex, scrambled digital codes that can be unencrypted only by authorized users who possess unique decryption keys.
Bureaucratic Control
The use of rules, regulations, and authority to guide performance
Data Visualization
The use of visual representation to explore, make sense of, and communicate data.
What is the difference between Intranets and Extranets
The user of the system
Assets
The values of the various items the corporation owns
Job Design
The way into which tasks can be combined to form complete jobs.
Web Applications
Tourism and Travel (Expedia), Publishing (Centage), Real Estate (Zillow), Employment (Monster), Financial Institutions (banking), Software Distribution, Healthcare (WebMD), Politics, etc
Processing information
Transforming raw data into meaningful information.
Physical layer
Transports the bits over a network
Taxable Dividends - Treatment and taxation of distributions from E & P
Treated as dividends, taxed as ordinary income or dividend income
Social Facilitation Effect
Working harder in a group than when working alone
Downward and upward
_______ and ________ communications are the primary forms of communication used in most traditional, vertically organized companies
Face-to-face
_______ communication permits direct experience, multiple information cues, immediate feedback, and personal focus
Asking questions
__________ builds critical thinking skills
IP address
a 4 byte destination address
internet
a collection of million of computers and networks, decentralized, no one owns or runs the internet
Variation
a deviation in the form, condition, or appearance of a product from the quality standard for that product
Make-to-order operation
a manufacturing operation that does not start processing or assembling products until a customer order is received
gross material requirements plan
a schedule that shows the total demand for an item and 1. when it must be ordered from suppliers or 2. when production must be started to meet its demand by a particular date .
ISO 14000
a series of international standards for managing, monitoring, and minimizing an organization's harmful effects on the environment
psychological contract
a set of perceptions of what employees owe their employers and what their employers owe them
expectancy theory
a theory proposing that people will behave based on their previewed likelihood that their effort will lead to a certain outcome and on how highly they value that outcome
equity theory
a theory stating that people assess how fairly they have been treated according to two key factors: outcomes and inputs
Kanban
a ticket-based JIT system that indicates when to reorder inventory
master production schedule
a timetable that specifies what is to be made and when.
Complex Instruction Set Computer Chips (CISC)
a type of CPU that can recognize as many as 100 or more instructions, enough to carry out most computations directly
Telecommuting
a work arrangement in which employees work at home & are linked to the workplace by computer
Scenario - Malcolm Bagget Malcolm Bagget has been working as a production employee for the last three years. His firm is currently undergoing a change in structure with a new management group and the production department is being restructured. Each production employee will be assigned to a small six-member production team. Malcolm is looking forward to the extensive cross training that has been promised and is looking forward to enjoying more power and discretion than he has had in the past. In addition to skill training, Malcolm is receiving management training in team building. One of Malcolm's co-workers, Danny Newcomber, is great at reducing tension by telling jokes and in other ways drawing off emotions when the group atmosphere is tense. Additionally, Danny can be counted on to energize by stimulating the team into action when the interest drops. Danny is demonstrating which of these?!
a. The task specialist role b. The task and socioemotional role c. The socioemotional role d. The participator role e. None of these@
Scenario - Malcolm Bagget Malcolm Bagget has been working as a production employee for the last three years. His firm is currently undergoing a change in structure with a new management group and the production department is being restructured. Each production employee will be assigned to a small six-member production team. Malcolm is looking forward to the extensive cross training that has been promised and is looking forward to enjoying more power and discretion than he has had in the past. In addition to skill training, Malcolm is receiving management training in team building. When Malcolm's team encounters the establishment of order and cohesion with the leader helping to clarify team roles and values, then his team is in the developmental stage of team development of _____.!
a. forming b. storming c. norming d. performing e. adjourning@
E business
activities a company performs for selling and buying products and services using computers and communication technologies
punishment
administering an aversive consequence
Stock Dividends - Basis of stock received if nontaxable and not identical
allocate basis of old stock between old and new shares based on relative FV
bandwith
amount of data that can transferred from one point to another in a certain time period, usually one second
production oder quantity
an economic oder quantity technique applied to production orders.
Finish goods inventory
an end item ready to be sold, but still an asset on the company's books.
Serial entrepreneurship
an entrepreneur who starts one business and then moves on to start another, often the new business builds on the expertise from the prior venture
Grapevine
an informal, person-to-person communication network that is not officially sanctioned by the organization
Consultation
an interactive process of helping others solve existing or potential problems by identifying and analyzing issues, developing strategies to address problems, and preventing future problems from occurring
economic order quantity model
an inventory control technique that minimizes the total of ordering and holding cost.
Dependent demand system
an inventory system in which the level of inventory depends on the number of finished units to be produced
Independent demand system
an inventory system in which the level of one kind of inventory does not depend on another
Network organization
an organization that uses its own employees to do some work activities & network e suppliers to provide other needed product components or work processes
Boundaryless organization
an organization whose design is not defined by or limited to the horizontal, vertical, or external boundaries
stock exchange
an organization whose members can buy and sell (exchange) securities for companies and individual investors
Continuous improvement
an organization's ongoing commitment to constantly assess and improve the processes and procedures used to create products and services
Customer focus
an organizational goal to concentrate on meeting customers' needs at all levels of the organization
Customer satisfacttion
an organizational goal to provide products or services that meet or exceed customers' expectations
Stock Dividends - Basis of stock received if nontaxable and identical
basis = cost of old shares/number of total shares
Secondary Cache
cache memory contained on an external circuit
Non volatile
does not need power to function
domain name system (DNS)
domain names are converted into IP addresses
Search Engine
google, bing, etc. -Information system that enables users to retrieve data from the web by using search terms 3 Step Process: 1) Crawling the Web 2) Indexing 3) Searching
Authorization
granting authenticated users approved access to data, software, and systems.
World Wide Web (WWW)
graphical interface to the largely text based internet in 1989
Listening
grasping both facts and feelings to interpret a message's genuine meaning
¬ What are two negative aspects of BI implementations? Why?
i. It's creepy ¬ very few aspects of our lives take place "offline" which means there is a digital trail that follows us wherever we go. This digital trail doesn't dissipate. It may not be used and only a few entities may have access to it, but it's there waiting to be sold to some organization or mined by the current owner. Ultimately, organizations need to be aware that employees may not want their boss (or anyone else) to have access to the employee's digital life. ii. It's hard ¬ "Hard" encompasses all the ways an organization would use the term. BI solutions take enormous effort, time and capital¬¬human and financial¬¬and these barriers are simply too high for most organizations
Decentralized Network
individuals can communicate freely with other team members.
Search Engine
information system that enables users to retrieve data from the web by using search terms google, bing, ask
Innovation
introduction of something new or different and the means by which entrepreneurs "exploit change as an opportunity for a different business or a different service"
The Samsung Galaxy S Note tablet is the first to be comparable to the (BLANK) , the most successful table currently on the market?
ipad
The situational theory
is a contingency theory that focuses on followers' readiness.
The University of Iowa Studies discussed
leadership styles Laissez-faire Democratic Autocratic
appreciative style
listening to be amused
mobile network
network operating on a radio frequency, consisting of radio cells served by a base station
Corporate entrepreneurship
occurs inside of an existing organization
stereotype
oversimplified belief about a group of people
An email sent from your computer is received by another computer by using ________ technology
packet switching
which of the following is not a logic of the client/server architecture?
packeting logic
dividends
part of a firm's profits that the firm may distribute to stockholders as either cash payments or additional shares of stock
Work-in-process inventory
partially finished goods consisting of assembled component parts
just in time partnership
partnership of suppliers and purchasers that remove waste and drive down costs for mutual benefits.
medium
pathway by which the message travel
predictive patterns
patterns that help identify database elements that are different
paraphrasing
people restate in their words what they heard
C2B
people selling products or services to businesses
Arithmetic Logic Unit (ALU) (2nd part of the CPU)
performs all arithmetic operations (addition and subtraction) and all logic operations (such as sorting and comparing numbers)
Intelligent Agents
performs specific tasks on behalf of the users and mimics repetitive human behaviors
economic part period
period of time the ratio of setup cost to holding cost is equal.
linguistic style
person characteristic speaking patterns
Personal Communication Channels
personal networks, grapevine, and written communication are the three ________________
types of inventory
raw material inventory, work in process inventory, maintenance/repair/operating, finished goods inventory.
feedback
receiver expresses its reaction to the message
Fiedler's term position power
refers to the degree of influence. A leader has power-based activities
negative reinforcement
removing or withholding an undesirable consequence
Opportunity
requires the intersection of a viable idea with a customer with an unmet need
Service recovery
restoring customer satisfaction to strongly dissatisfied customers
Examples of Sender and Receiver devices
smartphones, mobile phones, pdas, tvs, personal computers
Roles
socially determined expectations of how individuals should behave in a specific position.
intelligent agents
software capable of reasoning and following rule-based processes; they are becoming more popular, especially in e-commerce
virtual private network (VPN)
software that securely encrypts data sent by employees outside the company network, decrypts the data when they arrive within the company computer network, and does the same when data are sent back to employees outside the network
Early leadership research
sought characteristics that might differentiate leaders from non leaders
Flash Memory
special type of rewritable read-only memory that is compact and portable
investment bankers
specialists who assist in the issue and sale of new securities
<p></p>
starts and ends a paragraph
<body></body>
starts and ends the body of your webpage
preferred stock
stock that gives its owners preference in the payment of dividends and an earlier claim on assets than common stockholders if the company is forced out of business and its assets sold
data warehouse
stores huge amounts of data that have been prepared for data mining analysis by being cleaned of errors and redundancy
Key Performance Indicators ¬ How do key performance indicators related to critical success factors?
strategic objective whose performance is measured against a goal
Leadership is
the process of influencing a group toward the achievement of goals
empowerment
the process of sharing power with employees, thereby enhancing their confidence in their ability to perform their jobs and their belief that they are influential contributors to the organization
supervised data mining
the process when the user tells the data mining software to look and test for specific patterns and relationships in a data set
Internal service quality
the quality of treatment employees receive from management and other divisions of a company
Bus Width
the size of the internal electric pathway along which signals are sent from one part of the computer to another. A wider bus can move more data, hence faster processing
Clock Speed
the speed of the internal clock of a CPU that sets the pace at which operations proceed within the computer's internal processing circuity
first-mover advantage
the strategic advantage that companies earn by being the first in an industry to use new information technology to substantially lower costs or to differentiate a product or service from that of competitors
cohesiveness
the tendency of a group or team to stick together.
what are UTP and STP
they are a wired transmission media
identity theft
thieves hijack your name and identity and use your good credit rating to get cash or buy things
cTLD
top level domain name that is belongs to a country code
gTLD
top level domain name that is organizational
brick and mortor
traditional commerce
merchant
transfers the old retail model to the e-commerce world by using the medium of the internet
sequence patterns
when two or more database elements occur together in a significant pattern, but one of the elements precedes the other
association or affinity patterns
when two or more database elements tend to occur together in a significant way
order amount
when you oder a certain amount of something for something.
Action teams
work to accomplish tasks that require people with (1) specialized training and (2) a high degree of coordination, as on a baseball team, with specialized athletes acting in coordination.
Project teams
work to do creative problem solving, often by applying the specialized knowledge of members of a cross-functional team, which is staffed with specialists pursuing a common objective.
Under the CFP Boards rules of Conduct, violations of the rules of conduct may subject a certificant or registrant to discipline. Which of the following is true with respect to any such violations? 1. Discipline extends to the rights of registrants and certificants to use the CFP marks. 2. The rules are designed to be a basis for legal liability to any third party. 3. The CFP board has the exclusive right to ensure that certificants and registrants meet and continue to meet the CFP Board's initial and ongoing certification requirements
1 and 3. 1. Discipline extends to the rights of registrants and certificants to use the CFP marks. 3. The CFP board has the exclusive right to ensure that certificants and registrants meet and continue to meet the CFP Board's initial and ongoing certification requirements
Neural Network Features
1) Learning and adjusting to new circumstances on their own 2) Lending themselves to massive parallel processing 3) Functioning without complete or well structured info 4) Coping with huge volumes of info with many dependent variables 5) Analyzing non-linear relationships
3 Values Obtained from improving processes
1) Operational- Automation 2) Managerial- Streamlining 3) Strategic- Re-engineering
3 Values Obtained from improving processes
1) Operational- Automation 2) Managerial- Streamlining 3) Strategic- Reengineering
Life of an IP packet
1. Click on the link 2. Info is then sent to a mail room where it is labeled packaged and sent on its way 3. Label is then stamped, possible a proxy 4. Then it is placed on a LAN 5. Address is read by the router 6. The router sorts and send info to the correct places 7. The sent to proxy interface and URL is checked, if good it is sent to the internet 8. Before entering the internet it is sent through a firewall, if clean it is picked up on bandwidth and to the internet 9. Passes through one more firewall then sent to a web server 10. Recycled and used again
External Collaboration
1. Open Innovation 2. Strategic Partnerships
Five Needs
1. Physiological--food, water, shelter 2. safety or security--protection 3. social--friendship 4. ego-independence, freedom 5. self-actualization--realizing ones full potential
5 Phases of the Information Life Cycle
1. Planning 2. Requirements 3. Design 4. Implementation 5. Maintenance
Which of the following are true with respect to the Practice Standards? 1. Each pracite standard is a statement regarding one of the steps in the financial planning process or investments planning process. 2. Includes monitoring responsibilities after a financial plan is implemented. 3. The scope of the engagement does not have to be in writing.
3 Only 3. The scope of the engagement does not have to be in writing.
Under-reward
A form of inequity in which you are getting fewer outcomes relative to inputs that your referent is getting.
Over-reward
A form of inequity in which you are getting more outcomes relative to inputs than your referent.
Corporate portal
A hybrid of executive information systems and intranets that allows managers and employees to use a web browser to gain access to customized company information and to complete specialized transactions.
Activity-Based Costing (ABC)
A method of cost accounting designed to identify streams of activity and then to allocate costs across particular business processes according to the amount of time employees devote to particular activities
Behavior Modification
A method of shaping actions by the use of positive reinforcement.
Intranet
A network within an organization that uses internet protocols and technologies for collecting, storing, and disseminating useful information that supports business activities -For internal Use by employees
Virus
A program or piece of code that, without your knowledge, attaches itself to other programs on your computer and can trigger anything from a harmless flashing message to the reformatting of your hard drive to a systemwide network shutdown.
Critical Path Method (CPM)
A project management technique that uses only one time factor per activity.
Firewall
A protective hardware or software device that sits between the computers in an internal organizational network and outside networks, such as the internet.
Avoidance
A reaction to conflict that involves ignoring the problem by doing nothing at all, or deemphasizing the disagreement
Balance Sheet
A report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity
Positive Reinforcement
A reward given to motivate a person or group which is usually stated verbally or with "pats on the back" and words of encouragement.
Extrinsic Reward
A reward that is tangible, visible to others, and given to employees contingent on the performance of specific tasks or behaviors.
Intermittent Reinforcement Schedule
A schedule in which consequences are delivered after a specified or average time has elapsed or after a specified or average number of behaviors has occurred.
Continuous Reinforcement Schedule
A schedule that requires a consequence to be administered following every instance of a behavior.
Operating System (OS)
A set of programs for controlling and managing computer hardware and software. Provides an interface between a computer and the user and increases computer efficiency by helping users share computer resources a d by performing repetitive tasks for users.
Core Competencies
A set of skills, talents, and capabilities in which a firm is particularly strong.
Response
A set of values related to rapid, flexible, and reliable performance. Sustainable advantage.
Neutralizer
A situational variable that counteracts a leadership style and prevents the leader from displaying certain behaviors
Substitute
A situational variable that makes a leadership style redundant or unnecessary
Knowledge Society
A society in which much of the labor force has migrated from manual work to work based on knowledge.
Transformational Leader
A special ability to bring about innovation and change by creating an inspiring vision, shaping values, building relationships, and providing meaning for followers
Transnational Strategy
A strategy that combines the benefits of global scale efficiencies with the benefits of local responsiveness.
During which stage of team development should the team leader help clarify team roles, norms, and values?
A. Adjourning B. Storming C. Forming D. Performing E. Norming
Carmen's group found itself unable to handle a conflict. The group decides to bring in an outside consultant to discuss the conflict with both sides and work toward a resolution. The group is using:
A. BATNA. B. a bargaining zone. C. mediation. D. integrative negotiation. E. distributive negotiation.
_____ are goals that cannot be attained by a single party.
A. Conflict goals B. Mission-driven goals C. Superordinate goals D. Competitive goals E. Extraordinary goals
_____ means that the first behaviors that occur in a team often set a precedent for later team expectations.
A. Critical events B. Primacy C. Carryover behaviors D. Explicit statements E. Recency
Which of the following brings norms into the team from outside?!
A. Critical events B. Primacy C. Carryover behaviors D. Explicit statements E. Recency@
Which of the following behaviors is NOT consistent with the socioemotional role?
A. Encourage B. Energize C. Harmonize D. Compromise E. Follow
Which of these is consistent with the role of the socioemotional role?
A. Encourage B. Follow C. Compromise D. All of these E. Both encourage and follow
Which of the following is a formal team composed of a manager and his or her subordinates?
A. Functional team B. Horizontal team C. Self-managed team D. Special-purpose team E. Social team
Sally is a member of a work team at Beauty-R-Us Corporation. She often proposes new solutions to team problems. This is an example of which task specialist role?
A. Harmonize B. Seek information C. Initiation D. Reduce tension E. Compromise
Which of the following is more common in large teams?
A. Member satisfaction B. The development of subgroups C. Agreement D. Commitment E. All of these
Which of the following is a component of a team?
A. People in a team do not have to have regular interaction. B. Four or more people are required to form a team. C. A performance goal is shared between team members. D. Teams tend to be small groups, usually with less than 10 people. E. Each member tends to set his/her own goals for the team.
Which of the five stages of team development is marked by conflict and disagreement?
A. Performing B. Norming C. Storming D. Forming E. Reforming
Which of the following is NOT a characteristic of team structure and context influence cohesiveness?
A. Personal attraction to the team B. Productivity expectations C. Shared goals D. Team interaction E. All of these are components
The tendency for people to be so committed to a cohesive team that they are reluctant to express contrary opinions refers to _____.!
A. Public praise B. Social facilitation C. Community motivation D. Social performance E. Societal inspiration
_____ refers to the tendency for the presence of others to enhance one's motivation and performance.
A. Public praise B. Social facilitation C. Community motivation D. Social performance E. Societal inspiration
Which of the following behaviors is consistent with the socioemotional role?!
A. Reduce tension B. Give opinions C. Seek information D. Summarize E. Energize@
Which of the following statements is true?
A. Self-managed teams are empowered with decision-making authority. B. Self-managed teams still rely heavily on their manager. C. Self-managed teams have little access to resources. D. Self-managed teams will eventually develop into problem-solving teams. E. None of these
Which of the following is NOT one of the four key strategies for achieving a win-win solution through negotiation?
A. Separate the people from the problem B. Focus on interests C. Generate many alternatives for mutual gain D. Insist that results be based on objective standards E. Keep the demands at the center
Fred, a software engineer, is in charge of scrutinizing electronic communication patterns as part of his role within a virtual team at work. Fred's role fulfills which virtual team practice?
A. Using technology to build relationships B. Shaping culture through technology C. Monitoring progress and rewards D. Administering rewards E. Using global teams to develop technology
Which of the following teams are created outside the formal organization structure to undertake a project of special importance or creativity?
A. Vertical B. Command C. Special-purpose D. Cross-functional E. Functional
Team _____ occurs when individuals and departments rely on other individuals and departments for information or resources to accomplish their work.
A. accountability B. cohesiveness C. control D. interdependence E. independence
InfoTech's new product team has a norm of backing up each of their computer's hard drives at the end of each working day. This norm developed because one day a computer virus infected the team's computer network and destroyed many important computer files. The cause of this norm was clearly:!
A. an explicit statement. B. carryover behaviors. C. primacy. D. a critical event. E. none of these.@
Effective virtual team leaders use technology to build relationships through all of the following ways EXCEPT:
A. bring attention to and appreciate divers skills and opinions. B. scrutinize electronic communication patterns. C. use technology to enhance communication and trust. D. ensure timely responses online. E. manage online socialization.
In the context of work team effectiveness, _____ pertains to the team's ability to meet the personal needs of its members.
A. cohesiveness B. satisfaction C. commitment D. leadership E. norms
All the following are conflict handling styles discussed in your text EXCEPT:
A. competing style. B. assertive style. C. avoiding style. D. accommodating style. E. compromising style.
Once a month, the top managers at George's Greenhouse make a point of meeting with the work teams in their respective divisions in order to communicate to them the organization's priorities, goals, and needs. This is an example of top management attempting to influence team norms through:
A. explicit statements. B. primacy. C. carryover behaviors. D. critical events. E. all of these.
During the _____ stage of team development, the major emphasis is on task accomplishment.
A. forming B. performing C. achieving D. norming E. storming
Kristen, in her role as team leader, has recently switched her style from one of clarifying team roles to one of emphasizing task accomplishment. Her change was driven by a desire to keep pace with her team, which has evolved from the _____ stage to the _____ stage of team development.
A. forming, storming B. storming, performing C. performing, adjourning D. norming, performing E. storming, reforming
Randy is a team leader at Welldrilling.net. His team is made up of fifteen co-workers. Recently, he has noticed a tendency for some team members to participate much less than others. They seem uninterested and content to let others do the work. This is called:
A. free riding. B. reduced commitment. C. power realignment. D. the costs of coordination. E. self-directed team.
The competing style of conflict resolution is based on a _____ degree of assertiveness and a _____ degree of cooperativeness.
A. high, high B. high, low C. low, high D. low, low E. low, medium
Tamika is a manager at Sleeveless Clothes, Inc. Recently, she was assigned a work team. She is in charge of the team and it consists of the subordinates under her authority. This is an example of a _____ team.
A. horizontal B. functionall C. self-managed D. special-purpose E. social
All of the following are common dysfunctions of teams EXCEPT:
A. lack of trust. B. avoidance of accountability. C. fear of conflict. D. lack of commitment. E. results orientation.
The _____ the team interacts, the _____ cohesive the team.
A. less, more B. more, more C. more, less D. all of these E. none of these
Sylvia is a member of a team that uses e-mail, instant messaging, and blogging to communicate. Although she sees members of her team on breaks and at lunch, Sylvia does not interact with them face-to-face in a professional setting. Sylvia's team can best be described as a:
A. project team. B. global team. C. focus group. D. virtual team. E. self-directed team.
Josh is a manager at On-The-Go Cars. He recently has read quite a bit of literature on the benefits of work teams. He is particularly interested in forming a vertical team. There are twenty-eight employees in his department. Josh should:
A. recruit more employees for his department; twenty-eight is too small for a work team. B. form one team of twenty-eight employees. C. divide the group into four teams of seven employees each. D. forget the team idea; he has too many employees and he shouldn't divide his work group. E. do his job and not worry about teams.
Nancy belongs to a horizontal team in her organization. She was selected on the basis of her title, not her expertise. The type of horizontal team she belongs to is likely a(n):
A. self-managed work team. B. task force. C. cross-functional team. D. committee. E. ad-hoc committee.
Key Success Factors
Activities or factors that are key to achieving competitive advantage.
Operations Management
Activities that relate to the creation of goods and services through the transformation of inputs to outputs.
Turing Test
Alan Turing -Father of AI -Test of a machine's ability to demonstrate intelligence
VR Terms: Full-Body Immersion
Allowing users to move around freely
Decision support system (DSS)
An information system that helps managers understand specific kids of problems and potential solutions and analyze the impact of different decisions options using "what if" scenarios.
Fixed Interval Reinforcement
An intermittent schedule in which consequences follow a behavior only after a fixed time has elapsed.
Profit and Loss Statement
An itemized financial statement of the income and expenses of a company's operations
The CFP Board's Practice Standards are intended to:
Assure that the practice of Financial planning by CFP certificants and registrants are based on established norms of practice. Enhance the value of the financial planning process, and Advance professionalism and financial planning
Preliminary Control
Attempts to monitor the quality or quantity of financial, physical, human, and information resources before they actually become part of the system
What are two basic leadership behaviors that are important for leadership?
Attention to task and attention to people
Two-factor authentication
Authentication based on what users know, such as a password and what they have in their possession, such as a secure ID card or key.
Who uses Business Intelligence? What is the top¬down approach to BI? What is the bottom up approach? Which approach is better?
BI tools can be used throughout the organization, and it will be up to the leaders of the business to decide which type of approach best fits their needs. Typically, top¬down approaches are used in vertical organizations with multiple layers of management. Bottom¬up approaches are more common in flatter organizations where employees need higher levels of autonomy. Still, no one approach is better than another.
Bottom¬up
But, changes in the business fabric of the United States has pushed business out of the traditional vertical organizations that are typical of the manufacturing sector where control is centralized with management and into more horizontally dispersed organizations typical of the services sector where control is spread across users of varying degrees of responsibility. The bottom¬up approach assumes workers throughout the organization need BI tools to get "better" at their job...however "better" is defined.
Example of a Genetic Algorithm is....
CFO choosing top 5 projects that generate the most net income or UPS choosing the fastest, most economical route
Standards of Professional Conduct
CFP Board standards comprised of five different categories: Cod of Ethics and PRofessional Responsibility ("Code of Ethics"); Rules of Conduct; Financial Planning Practice Standards ("Practice Standards"); Disciplinary Rules and PRocedures ("Disciplinary Rules"); and Candidate Fitness Standards.
Presumption List
CFP Board's list of conduct that is presumed to be unacceptable and will bar an individual from becoming certified unless that individual petitions the commision for reconsideration.
Example of Operational-Autonomation
Calculating Payroll
Output Device
Capable of representing information from a computer. The form of this output might be visual, audio, or digital; examples include printers, display monitors, and plotters
Reinforcement Contingencies
Cause-and-effect relationships between the performance of specific behaviors and specific consequences.
CAVE
Cave automatic virtual environment -Virtual environment consisting of a cube-shaped room in which the walls are rear-projection screens -Uses holographic devices that create, capture, and display images in true 3D form
Example of strategic reengineering
Changing way of travel (driving to flying)
According to practice standard 200-1 Determining a clients personal and Financial goals, needs and priories, which of the following ate necessary inputs to determine a client's goals?
Cli4ent's attitude, Values, and expectations.
Powtoon sells ___________-___________ software for creating animated presentations and videos.
Cloud based
Relationship-oriented Leaders
Considered to perform better in situations of intermediate favorability
Data
Consists of raw facts and is a component of an information system
Artificial Intelligence (AI)
Consists of related technologies that try to simulate and reproduce human thought behavior, including thinking, speaking, feeling, and reasoning *Applies computers to areas that require knowledge, perceptions, reasoning, understanding, and cognitive abilities *Beyond calculation
Feedback Control
Control that focuses on the use of information about previous results to correct deviations from the acceptable standard
Network layer
Controls direction of messages
Transport layer
Controls movement of data
What are the 4 "W's"
Why Who When What
WiFi
Wireless Fidelity -Broadband wireless technology -Information can be transmitted over short distances -In the form of radio waves -Connect: -- Computers, mobile phones, smart phones, MP3 players, PDAs, and Game Consoles -- WiFi Hotspots
self managed team
Workers are trained to do all or most of the jobs in a work unit, have no direct supervisor, and do their own day-to-day supervision
Definition of The Internet
Worldwide collection of millions of computers and networks -Derived from the term 'internetworking' -Growing too fast to measure
Horizontal
_______ communication is people continuously sharing information across departments and levels
executive information system (EIS)
a data processing system that uses internal and external data sources to provide the information needed to monitor and analyze organizational performance
Storage Area Network (SAN)
a dedicated high-speed network consisting of both hardware and software used to connect and manage shared storage devices, such as disk arrays, tape libraries, and optical storage devices
material requirements planning
a dependent demand technique that uses a bill of material, inventory, expected receipts, and a master production schedule to determined material requirements.
Which of the following is not a principle in the Code of Ethics? a. frugality b. Integrity c. Competence d. Fairness
a. frugality
Scenario - Malcolm Bagget Malcolm Bagget has been working as a production employee for the last three years. His firm is currently undergoing a change in structure with a new management group and the production department is being restructured. Each production employee will be assigned to a small six-member production team. Malcolm is looking forward to the extensive cross training that has been promised and is looking forward to enjoying more power and discretion than he has had in the past. In addition to skill training, Malcolm is receiving management training in team building. Malcolm has developed strong task skills and has normally taken the role of task specialist. His task specialist behaviors will include all of the following EXCEPT:!
a. initiating. b. summarizing. c. compromising. d. energizing. e. all of these are included as task specialist behaviors.@
Protocol
agreed-on methods and rules that electronic devices use to exchange information
Matrix Structure
an organizational structure that assigns specialists
Production teams
are responsible for performing day-to-day operations.
two-factor authentication
authentication based on what users know, such as a password and what they have in their possession, such as a secure ID card or key
Average aggregate inventory
average overall inventory during a particular time period
rich medium
best for non routine situations & to avoid oversimplification
modems
connects a user to the internet
3 step process for search engines
crawling the web indexing searching
user interface example
dashboard
data management logic
data management and storage operation
dark data
data that belongs to organizations, but it is sitting there unused
hypermedia
documents can include embedded references to audio, text, images, video and other documents
subscription
e-commerce sites sell digital products or service to customers
reports/bulletins
fifth in the hierarchy and the lowest in richness
vertical communication
flow of messaged up and down the hierarchy within the organization
Trait Theory
ignores the interactions of leaders and their group members as well as the situational factors.
media richness
indicates how well a particular medium conveys information and promotes learning
inventory costs
insurance and taxes present in many states on inventory
quality of work life (QWL) programs
programs designed to create a workplace that enhances employee well-being
user interface
provides a comprehensive graphical/pictorial view of corporate performance measures, trends and exceptions
intrinsic reward
reward a worker derives directly from performing the job itself
privacy
right of people not to reveal information about themselves
telephone
second in the hierarchy because the human voice can carry a tremendous amount of emotional information
stocks
shares of ownership in a company
Open Communication
sharing all types of information throughout the organization and across functional and hierarchical boundaries
Routine messages
simple and straightforward messages. They convey data or statistics or simply put into words what managers already agree on and understand
Expected Activity Time
t=(a+4m+b)/6
Inventory turnover
the number of times per year that a company sells, or "turns over," its average inventory
interest
the payment the issuer of the bond makes to the bondholders for use of the borrowed money
instrumentality
the perceived likelihood that performance will be followed by a particular outcome
Trend Analysis
the practice of collecting information and attempting to spot a pattern, or trend, in the information
Job Sharing
the practice of having two or more people split a full time job "part time" "adjunct"
Moore's law
the prediction that about every two years, computer processing power would double and its costs would drop by 50 percent
electronic communication
third in hierarchy because this lacks both visual and verbal cues and don't allow for interaction or feedback, messages can be misunderstood
how are most of the computer networks in the US connected to those in other continents
through physical cables laid on the sea bed
inventor of the WWW
tim berners-lee
manufacturing cycle time
time between arrival of raw materials and the shipping of finished products.
through out time
time required to move orders through the production process, from receipt to delivery.
Reviews of the major studies undertaken
to test the overall validity of Fiedler's model have shown considerable evidence to support the model.
searching
websites that are ranked in order of relevance to your search term- use of algorithm
Partnership
"A relationship of individuals, or groups marked by mutual cooperation and responsibility"
Stakeholders
"Persons who may or may not directly benefit from being involved in a potential program and who may also "have a stake in the programs outcome and often the ability to influence that outcome"
Offshore Outsourcing
"outsourcing" a particular service to a foreign company, sending x-rays oversea to be examined
ARPANET
1969
Which event signifies the birth of the internet?
1987 NSFNET
____ percent of storefronts with local channels are on Foursquare?
93%
Reinforcement Theory
A behavioral construct where individuals may be rewarded or punished based on the consequences of their behavior.
Extinction
A behavioral method that involves withholding praise or a positive reward.
Avoidance Learning
A benefits theory, also called negative reinforcement, which postulates that behavior that is strengthened by removal of negative statements or actions.
The main role of Microsoft Access is to create ________?
A database
Multinational Corportation
A firm that has extensive involvement in international business, owning or controlling facilities in more than one country.
Pragmatic Solver
A follower who has qualities of all four follower styes, depending on which fits the prevalent situation
Conformist
A follower who participates actively in the organization but does not use critical thinking skills
Cluster Chain
A group of people that disseminate information within their group of cluster.
Work Breakdown Structure
A hierarchical description of a project into more and more detailed components.
According to Hersey and Blanchard
A high task-low relationship situation call for the telling leadership style.
Computer
A machine that accepts data as input, processes data without human intervention by using stored instructions, and outputs information
Principle of Exception
A managerial principle stating that control is enhanced by concentrating on the exceptions to or significant deviations from the expected result or standard
Intrinsic Reward
A natural reward associated with performing a task or activity for its own sake.
Activity on Arrow (AOA)
A network diagram in which arrows designate activities.
Activity on Node (AON)
A network diagram in which nodes designate activities.
Centralized Network
A network that makes for a faster decision that involves fewer people.
Stock Attribution - Partnerships
A partner is deemed to own the stock owned by a partnership to the extent of the partners interest in the partnership. Stock owned by a partner is deemed to be owned in full by a partnership.
Internal Audit
A periodic assessment of a company's own planning, organizing, leading and controlling processes
Multinational Corporation (MNC)
A private organization with assets and operations in at least one country other than its own country
Financial Statement
A profile of some aspect of an organizations financial circumstances
Program evaluation and review technique (PERT)
A project management technique that employs three time estimates for each activity.
Income Statement
A summary of financial performance over a period of time
Communication Network
A system of resources used as a channel for groups of people to connect to each other, such as the internet.
Gainsharing Program
A system that allows employees to share in any cost savings made by the firm.
Equity Theory
A system that holds that individuals are more motivated if they perceive they are being treated as fairly as their fellow workers or those in other firms.
Scanlon Plan
A system that recognizes and rewards individuals for collaboration, leadership, education, and training given to another individual or group cohesively.
ERG Theory of Motivation
A system that sets out three categories of human needs relating to organizational behaviors: Existent needs, Relatedness needs, Growth needs.
Control Standard
A target against which subsequent performance will be compared
Mediator
A third party who intervenes to help others manage their conflict
Bar code
A visual pattern that represents numerical data by varying the thickness and pattern of vertical bars.
Amber is a member of a work team at Buchanon Dance, Inc. She often attempts to help disagreeing parties reach agreement. This is an example of which socioemotional role behavior?
A. Compromise B. Follow C. Reduce tension D. Harmonize E. Summarize
Shifting one's own opinions to maintain team harmony refers to which socio-emotional role?
A. Energizing B. Initiating ideas C. Encouraging D. Following E. Compromise
_____ increases team cohesiveness.
A. External competition B. Shared goals C. Team success D. All of these E. Shared goals and team success
During which stage of team development does team unity emerge?
A. Forming B. Storming C. Performing D. Norming E. Adjourning
Which of the following is a standard of conduct that is shared by team members and guides their behavior?!
A. Leadership B. Cohesiveness C. Norm D. Attitude E. None of these@
Which of the following statements is true?
A. Morale is higher in cohesive teams. B. Productivity is lower in cohesive teams. C. Satisfaction is lower in cohesive teams. D. Morale always suffers in cohesive teams. E. Absenteeism rates are substantially higher with cohesive teams.
_____ is the extent to which team members are attracted to the team and motivated to remain in it.
A. Norming B. Commitment C. Caring D. Cohesiveness E. Leadership.
Dale's work team is beginning to resolve its conflicts and consensus is developing on such things as members' roles. Dale's team is in which stage of team development?
A. Norming B. Forming C. Storming D. Performing E. Reforming
What is the ideal size of work teams?
A. Three B. Five C. Twelve D. Fifteen E. Twenty-three
Some team members are asked to play a dual role. These members:
A. engage in two sets of behaviors: initiation and energize. B. perform both role: task specialist and socioemotional. C. perform both roles: liaison and negotiator. D. engage in two sets of behavior: follow and compromise. E. do not do anything.
Darren and his team have just finished Project A, and are preparing to disband. Darren and his team are in the _____ stage of team development.
A. forming B. storming C. norming D. performing E. adjourning
Today, many virtual teams use _____ to facilitate regular collaboration and open information sharing.!
A. hand-written messages B. face-to-face communication C. brainstorming D. e-mail E. wikis@
The avoiding style of conflict resolution is based on a _____ degree of assertiveness and a _____ degree of cooperativeness.
A. high, high B. high, low C. low, high D. low, low E. low, medium
Members of _____ teams remain in separate locations around the world and conduct their work electronically.
A. intercultural B. international C. multinational D. virtual global E. distance
Managing team _____ is the most important skill required for effective team management.
A. norms B. cohesiveness C. conflict D. membership E. none of these
Allocating E & P to Distributions - if current E & P is positive and accumulated E & P has deficit
Accumulated E & P NOT netted against current E & P, distribution is deemed to be taxable dividend to extent of positive current E & P
Low Cost
Achieving maximum value, as perceived by the customer.
Project Manager
All necessary activities are finished in proper sequence and on time, the project comes in within budget, the project meets its quality goals, and the people assigned to the project receive the motivation, direction, and information needed to do their jobs.
Decentralized Control
An approach to organizational control based on informal and organic structural arrangements
Grapevine
An informal line of communication where information is passed from one person to another.
Control
Any process that directs the activities of individuals toward the achievement of organizational goals
OSI Model (7 layers)
Application Layer Presentation Layer Session Layer Transport Layer Network Layer Data Link Layer Physical Layer
Application layer
Applications access network services
Business Model
Basically outlines how you plan to make money Describes the rationale of how a business creates, delivers, and captures value
Stock Dividends - Basis and holding period of stock if taxable
Basis of stock is FMV, holding period starts day of receipt
Why is Business Intelligence Important? What are four benefit of business intelligence systems?
Business intelligence is important because it allows you to conduct business intelligently. More specifically, it allows you to respond to relevant information more quickly, it more accurately describes your current environment, it allows for deeper understanding of your organization and it makes prediction possible.
Five Forces Model
Buyer power, supplier power, threat of substitute products or services, threat of new entrants, and rivalry among existing competitors (SEE DIAGRAM PG.14)
Level 4: Effective Leader
Catalyzes commitment to and vigorous pursuit of a clear and compelling vision, stimulating higher performance standards
Horizontal
Change initiatives and improvements flow which way in the formal communication channels?
2 Dimensions of GIS
Control & Coordination
Which of the following is NOT a category of natural language processing systems? A. Interface to databases B. Machine Translation C. Text scanning and intelligent indexing programs D. Robots
D. Robots
What does a DNS do?
DNS- Domain Name System -converts domain names to IP addresses
Presentation layer
Data representation, encryption and decryption
4 Major Components of an Information System
Data, Database, Process, Information
Roles
Different sets of expectations for how different individuals should behave
Hypermedia (WWW)
Documents can include embedded references to audio, text, images, video, and other documents
Strategic-Reengineering
Dramatic change and rapid improvement; the analysis and redesign of work flow within and between enterprises
2 Driving Forces of GIS
E-Business & growth of the Internet
Earliest Finish Time Rule
EF=ES + Activity Time
Decentralized processing
Each user, department, or division has its own computer Main advantage is it is more responsive to the user Main disadvantage lack coordination among organizational units, high cost, and duplication
Starting and Ending Times
Earliest Start (ES): Earliest time at which an activity can start, assuming all predecessors have been completed. Earliest Finish (EF): Earliest time at which an activity can be finished. Latest Start (LS): Latest time at which an activity can start so as to not delay the completion time of the entire project. Latest Finish (LF): Latest time by which an activity has to finish so as to not delay the completion time of the entire project.
Services
Economic activities that typically produce an intangible product such as education, entertainment, lodging, government, financial and health services.
Authority-Compliance
Efficiency in operations results from arranging conditions of work in such a way that human elements interfere to a minimum degree
Computer
Electronic device operating under the control of instructions stored in its own memory that can accept, manipulate, and store data
Hypertext (WWW)
Embedded references in hypermedia documents *Links users can click to follow a particular thread
Steps in the Control Process
Establishing standards Measure performance Compare performance against standards Determine need for corrective action
Standard
Expected performance for a given goal: a target that establishes a desired performance level, motivates performance, and serves as a benchmark against which actual performance is assessed
Define the Candidate Fitness Standards and the "always bar list."
Explain
Define the Financial Planning Practice Standards and the various series that form the standards.
Explain
Define the five forms of discipline by the Commission
Explain
Discuss the difference between a CFP certificant and registrant?
Explain
What areas of ethics are included in the standards of professional conduct?
Explain
What is the function of the Certified Financial Board of Standards, Inc. (CFP Board)?
Explain
4G network means that data transfer speed is 4 Gigabytes
FALSE
Private companies cannot have internet backbones
FALSE
Definition of the web (WWW)
Graphical interface to the largely text-based internet in 1989
University of Iowa behavioral studies
Group members' satisfaction levels were generally higher under a democratic leader than under an autocratic one
Autonomous Work Groups
Groups that control decisions about and execution of a complete range of tasks
Strategy
How an organization expects to achieve its missions and goals.
Why do we need a domain name?
Identifies a computer or network address on the internet
Job Enrichment
Increasing responsibility and autonomy (depth) in a job.
Stock Attribution - Family
Individual is deemed to own stock owned by spouse, children, grandchildren, and parents (not grandparents or siblings)
IEEE
Institute of Electrical and Electronics Engineers
Horizontal
Interdepartmental coordination flow which way in the formal communication channels?
Three Examples of Popular web browsers on the market
Internet Explorer (IE), Mozilla Firefox, Chrome, Safari, etc.
problem solving team
Knowledgeable workers who meet as a temporary team to solve a specific problem and then disband
among the 3 types of networks which one is fastest?
LAN
what are the 3 types of networks?
LAN MAN WAN
lot for lot
Lot sizing technique that generates exactly what is required to meet the plan
Nonroutine messages
Managers should communicate these messages through rich channels
Session layer
Manages connections between the computers
Levels of Control
Operations financial structural strategic
Qualifications to qualify as a "not essentially equivalent redemption"
Ownership after redemption must be less than 80% of ownership before redemption, must own less than 50% of all voting stock
Predictive patterns
Patterns that help identify database elements that are different.
Revocation
Permanent revocation of a certificant's or registrant's right to use the marks.
Planning
Phase 1: designers must define the problem
Key resources
Physical, human, capital, and/or intellectual What key resources do our value propositions require? What about our distribution channels, customer relationships, and revenue streams?
Management involves three phases
Planning: This phase includes goal setting, defining the project, and team organization. Scheduling: This phase relates people, money, and supplies to specific activities and relates activities to each other. Controlling: Here the firm monitors resources, costs, quality, and budgets. It also revises or changes plans and shifts resources to meet time and cost demands.
Cache RAM
Resides on the processor. Because memory access from main RAM storage takes several clock cycles, cache RAM stores recently accessed memory so the processor is not waiting for the memory transfer
GIS: Transborder Data Flow (TDF)
Restricts type of data that can be captured and transmitted -Comprises national laws and international agreements on privacy protection and data security
Instant Messaging
Service for communicating with others via a private chat room on the internet -Windows messenger, yahoo!, Google chat
2 types of wires
Shielded twisted pair (STP) and Unshielded twisted pair (UTP)
Business Process
Standardized set of activities that accomplish a specific task
Suspension
Temporary suspension of a certificant's or registrant's right to use the marks for a term of up to five years for those individuals the Commission deems susceptible to rehabilitation.
Listening
The active effort to understand, learn, and obtain information from others.
Acquisition cost
The cost of obtaining data that you don't have.
Storage cost
The cost of physically or electronically archiving information for later use and retrieval.
Communication cost
The cost of transmitting information from one place to another.
Processing cost
The cost of turning raw data into usable information.
Competitive Advantage
The creation of a unique advantage over competitors.
Production
The creation of goods and services.
Cohesiveness
The degree to which a group is attractive to its members, members are motivated to remain in the group, and members influence one another
Motivation
The set of forces that initiates, directs, and makes people persist in their efforts to accomplish a goal.
Constructive Dividends - Treatment
Treated as ordinary dividend
Apple's Siri system is a natural language processing (NLP) system. True or False
True
Information
Useful data that can influence people's choices and behavior.
Components of a VR System
Visual and aural systems -Manual control for navigation (data glove) -Central coordinating processor and software system -Walker
Quality Circles
Voluntary groups of people drawn from various production teams who make suggestions about quality
Application Service Providers (ASPs)
A new business model -Provides access to software or services for a fee -Software as a service (SaaS), also known as "on demand software" -- Model for ASPs to deliver software to users for a fee -- Software might be temporary or long term -- Users don't need to be concerned with new software versions and compatibility problems -- Users can also save all application data on the ASP's server & software & data are portable EX.) Google, Microsoft Salesforce, Netsuite, Basecamp, Mint
Alienated Follower
A person who is an independent, critical thinker but is passive in the organization
Budget
A plan expressed in numerical terms
Controller
A position in the organizations that helps line managers with their control activities
Maslow's Hierarchy of Needs
A psychological theory that suggests that people are motivated by a number of needs, which are displayed in order. They are physiological needs, safety needs, love/belongingness needs, esteem needs, and self-actualization needs.
Letter of Admonition
A publishable written reproach of the certificate's or registrant's behavior.
Team
A small number of people with complementary skills who are committed to a common purpose, set of performance goals, and approach for which they hold themselves mutually accountable
multicommunicating
"use of technology to participate In several interactions at one time"
Computer-Aided Systems Engineering
(CASE) tools: automate parts of the application development process Similar to CAD tools used by architects
Crash Cost per Period
(Crash cost-Normal Cost)/(Normal time-Crash time) Cost cannot be negative, subtract higher from lower.
Domain Name Service
(DNS)- translates internet host and domain names to IP addresses, automatically converts what we type into the web bar into IP addresses of web servers hosting the sites
Components of GIS
*Global Database: Designing and implementing is a technical challenge *Information-Sharing Technologies: Large vs. small companies- custom applications or outsourcing
Operational & Strategic Requirements (GIS)
*Operational Requirements: Providing support for day to day services, global data access, consolidated global reporting, communication between headquarters and subsidiaries, management of short-term foreign exchange risks *Strategic Requirements: Providing support for long-term goals, strategic planning support, management of global tax risks
why BI/A?
- Big data - we have a lot of dark data
examples of NLP
- Dragon Speech Recognition Software Human Communication - social media listening: sentiment analysis - At&T Natural Voices Wizard Speech - Apple Siri
two types of activities by NLP
- Interfacing - Knowledge acquisition
Genetic Algorithims
- Mimic evolutionary survival of the fittest processes to generate solutions to a problem - finds the combination of inputs that gives the best outputs - solves optimization problems
business performance management (BPM)
- for monitoring and analyzing performance - based on balanced scorecard methodology - a framework for defining , implementing, and managing an enterprise's business strategy by linking objectives with factual measures - dashboards/scorecards
compared to conventional bar codes, QR codes have the following features:
- high storage capacity - small printout size - dirt and dust resistance - readable from any direction - compatible with the Japanese character set
difference in artificial intelligence system and a regular information system
- information systems are concerned with capturing, storing, retrieving, and working with data. help decision makers by providing timely, relevant, accurate, and integrated information. - AI technologies are concerned with generating and displaying knowledge and facts. try to discover "rules of thumb" that enable computers to perform tasks usually handled by humans
Neural Networks
- mimics how the human brain learns and functions - categorizes information into one or the other category - analyzes huge amounts to establish patterns where the logic and rules are UNKNOWN - solves classification problems
visualization tools
- ranging from multidimensional cue presentation to virtual reality, are integrate parts of BI systems - tableau
advantages of a robot
- they do not fall in love with coworkers, get insulted, or call in sick - they are consistent - they can be used in environments that are hazardous to humans, such as working with radioactive materials - they do not spy for competitors, ask for a raise, or lobby for longer break
BI's major objective is:
- to enable easy access to data (and models) - to enable manipulation of these data - to provide business mangers and analysts with the availability to conduct analysis
International Structure
-Operates much lie a multinational corporation -However, subsidiaries depend on headquarters more for process and production decisions
4 options for recovery
-Parallel Conversion: When both systems are ran at the same time -Phased-in-phased-out conversion: Put one system to use while slowly taking the other out -Plunge conversion: going directly into the new system -Pilot conversion: implementing the system in certain whole departments to see how it runs
Transnational Structure
-Parent and all subsidiaries work together in designing policies, procedures, and logistics -Usually focuses on optimizing supply sources and using advantages available in subsidiary locations
Personal Agents
-Perform specific tasks for a user -such as: remembering info for filling out Web forms, completing e-mail addresses after the first few characters are typed
Multinational Structure
-Production, sales, and marketing are decentralized -Financial management remains the parent company's responsibility
efficient communicator
-a person that can transfer information accurately but quickly
small team ADV
-better morale -better interaction
small team DISADV
-fewer resources -possibly less innovation -unfair work distribution
why norms are enforced
-help the group survive -clarify role expectations -help individuals avoid embarassing situations -emphasize the group's important values
Artificial Neural Networks
-learn and are capable of performing tasks that are difficult with conventional computers: filtering spam email -used for poorly structured problems -uses patterns: not the if-then-else rules -creates a model based on input and output
large team ADV
-more resources -more division of labor
Social Needs
...
social media
65% of managers expect to use ________ more to communicate with employees
Redundant Array of Independent Disks (RAID)
A collection of disk drives used for fault tolerance and improved performance, typically in large network systems
Server
A computer and all the software for managing network resources and offering services to a network
Effective follower
A critical, independent thinker who actively participates in the organization
Executive information system (EIS)
A data processing system that uses internal and external data sources to provide the information needed to monitor and analyze organizational performance.
Ohio State Studies
A leader who was high in consideration helped group members with personal problems, was friendly and approachable, and treated all group members as equals
Bus
A link between devices connected to the computer. It can be parallel or serial, internal (local) or external
SWOT Analysis
A method of determining internal strengths and weaknesses and external opportunities and threats.
Which of the following is not a form of discipline under the Disciplinary Rules?
A monetary fine
Network Attached Storage (NAS)
A network-conneccted computer dedicated to providing file-based data storage services to other network devices
Always Bar List
CFP Boards list of unacceptable conduct that will ALWAYS bar an individual from becoming certified.
Centralized Network
Can be effective for large teams because it limits the number of people involved in decision making
Routine messages
Can be efficiently communicated through channels lower in richness
Scheduling Feasibility
Can it be completed on time, if not: loss of customers could force a business to close
Property Dividends (effect on corps E & P) - Distributions of cash or property deficit rule
Cannot generate or add to deficit in E & P
Intangible
Cant qualify into dollar amounts
Candor
Communicating with ________ means being direct, honest, and clear about what employees need to do to meet objectives, while also expressing respect for others and not making people feel slighted, controlled, or exploited.
Stock Options
Company stocks given to employees as additional compensation or incentives, usually at a discounted price for limited time.
Which of the following is not specifically addressed in the CFP Board's Standards of Professional Conduct?
Comparing rates of return for exchange traded funds.
Jill is a prospective client, recently approached Mike, a CFP professional with significant estate planning needs. Mike does not feel like he can adequately fulfill all of Jill's needs so he refers jill to a colleague who specializes in estate planning. According to the CFP code of Ethics, what principle did Mike Most clearly demonstrate?
Competence
Structural Control
Concerned with how the elements of the organizations structure are serving their intended purposes
Legal Feasibility
Concerned with legal issues
Financial Control
Concerned with the organizations financial resources
Body Language
Consists of a person's facial expression and body movements that express communication and emotion without the use of words.
Information
Consists of facts that have been analyzed by the process component and is an output of an information system
Advantages of PERT
Especially useful when scheduling and controlling large projects, straightforward concept and not mathematically complex, graphical networks help highlight relationships among project activities, critical path and slack time analyses help pinpoint activities that need to be closely watched, project documentation and graphs point out who is responsible for various activities, applicable to a wide set of projects, and useful in monitoring not only schedules buts costs as well.
Connect emotionally
Establish an emotional connection with others and balance your competence and credibility with warmth and understanding. This is in reference to which key point for practicing persuasion?
Impoverished Management
Exertion of minimum effort to get required work done is appropriate to sustain organization membership
Discuss the Rules of Conduct and the six categories within the rules.
Explain 1. Defining the relationship with a prospective client or clients; 2. Information disclosed to prospective clients and client; 3. Prospective client and clients information and property; 4. Obligations to prospective clients and client; 5. Obligation to employers; 6. Obligation to CFP Board.
Face-to-face
First in the hierarchy order and highest in richness
Transaction Processing Systems (TPS)
Focus on data collection and processing; the major reason for using them is cost reduction
Customer segments
For whom are we creating value? Who are our most important customers? Divides market into groups based on similar characteristics As they increase in size, it becomes more difficult to satisfy them with the same product
Discussion Groups
Formed for people to exchange opinions and ideas on a specific topic -Group members post messages or articles that others in the group can read (LinkedIn Discussion Groups)
Slack Time
Free time for an activity. Also referred to as free float or free slack.
HTML
Hypertext Markup Language -Language used to create web pages
Biometrics
Identifying users by unique, measurable body features, such as fingerprint recognition or iris scanning.
Property Dividends (effect on corp.) - Liability in excess of basis
If liability is in excess of basis, FV cannot be less than liability, Amt. realized is greater of FV or amount of liability
Stock Dividends - Effect on E & P
If nontaxable E & P is not reduced, if taxable treat as any other taxable property distribution
Downwards
Implementation of goals and strategies flow which way in the formal communication channels?
6 reasons domestic business operations decide to change to some form of international operation
Improve the supply chain, reduce costs (labor, taxes, tariffs), improve operations, understand markets, improve products, and attract and retain global talent.
Referents
In equity theory, others with whom people compare themselves to determine if they have been treated fairly.
Inputs
In equity theory, the contributions employees make to the organization.
Outcomes
In equity theory, the rewards employees receive for their contributions to the organization.
What does an MNC's environment consist of?
Includes many variations in different forces *Legal (intellectual property, patent & trademark laws, etc.) *Cultural (language, ethical issues, religious beliefs, etc.) *Economic (currency, tax structure, interest rates, monetary policies, etc.) *Political (gov't type & stability, policies toward MNCs, etc.)
Property Dividends (effect on corps E & P) - Excess of FV over basis of property distributed
Increases E & P
Reasons for EIS's
Increases productivity Convert info into other formats Spot trends and report exceptions
Multi-factor Productivity
Indicates the ratio of many or all resources (inputs) to the goods and services produced (outputs).
Single Factor Productivity
Indicates the ratio of one resource (input) to the goods and services produced (outputs).
Financial Budget
Indicates where the organization expects to get its cash for the coming time period and how it plans to use it
Team Maintenance Specialist
Individual who develops and maintains team harmony
Downwards
Indoctrinations flow which way in the formal communication channels?
Executive Information Systems
Interactive info systems that give executives easy access to internal and external data -Include: "drill down" features, digital dashboard -Ease of use: EIS should focus on simplicity -Require access to both internal and external data: so execs can spot trends, forecast, and conduct dif analyses -Should also collect data related to an organizations "critical success factors"
Categories of NLP
Interface to databases, machine translation, text scanning and intelligent indexing programs for summarizing large amounts of text, generating text for automated production of standard documents, speech systems for voice interaction with computers
Global Organizations
International, Global, Multinational, and Transnational Have not fully achieved transnational Multinational is 3 or more countries and international is in 2 countries Multinational focuses on financial aspects International focuses on processes and structure
Secure sockets layer (SSL) encryption
Internet browser-based encryption that provides secure off-site web access to some data and programs.
3 major types of networks
LAN: local area network MAN: metropolitan area network WAN: wide area network
Calculating Slack
LS-ES OR LF-EF
Latest Start Time Rule
LS=LF-Activity Time
Sector
Large segment of the economy within which a large group of companies can be categorized
In the Ohio State studies
Leader behavior is defined as the extent to which a leader had job relationships characterized by mutual trust and respect for group members ideas and feelings.
Balance Sheet
List of assets and liabilities of an organization at a specific point in time
Open Communication
Managers can build this environment by breaking down conventional hierarchical and department boundaries that may be barriers to communication
Collaboration
A style of dealing with conflict emphasizing both cooperation and assertiveness in order to maximize both parties' satisfaction
Accommodation
A style of dealing with conflict involving cooperation on behalf of the other party but not being assertive about one's own interests
Compromise
A style of dealing with conflict involving moderate attention to both parties' concerns
Competing
A style of dealing with conflict involving strong focus on one's own goals and little or no concern for the other person's goals
Electronic Communication
A system that includes emails, Skype, Videoconferencing, blogs, instant messaging, texting, and social networking.
Parading
A team strategy that entails simultaneously emphasizing internal team building and achieving external visibility
Probing
A team strategy that requires team members to interact frequently with outsiders, diagnose their needs, and experiment with solutions
Start-up venture
A temporary organization designed to search for a repeatable and scalable business model The intent of the founder is to DISRUPT the market with a scalable and impactful business model
Expectancy Theory
A theory that holds that individuals are more likely to be motivated and perform well if they expect to receive desired rewards.
Reward System
A theory that provides prizes, incentives for tasks and jobs well done, and special recognition.
Equity Theory
A theory that states that people will be motivated when they perceive that they are being treated fairly.
Theory of Comparative Advantage
A theory which states that countries benefit from specializing in and exporting goods and services in which they have relative advantage, and they benefit from importing goods and services in which they have a relative disadvantage.
Two-Factor Theory of Motivation
A theory, also known as "motivation-hygiene theory" or "dual theory," which is based on job satisfaction and the extent to which attitudes influence outcomes.
Build goals on common ground
Managers should describe the benefits that employees will experience by embracing a new policy or fulfilling a request. If a manager cant find common advantages, this is typically a sign that goals and plans need to be adjusted. This is in reference to which key point for practicing persuasion?
methods
Managers use different ________ to communicate
Leadership Grid
Measures the leader's concern for people and concern for production to categorize the leader in one of five different leadership styles
Operational Feasibility
Measures: How well the proposed solution will work, how internal and external customers will react
cross functional team
Members composed of people from different departments, such as sales and production, pursuing a common objective
top management team
Members consist of the CEO, president, and top department heads and work to help the organization achieve its mission and goals
work team
Members engage in collective work requiring coordinated effort; purpose of team is advice, production, project, or action (see text discussion)
Business Analytics Applications
MicroStrategy, IBM Cognos, SAP Business Objects, Oracle Business Intelligence, Tableau, Teradata
Postaction Control
Monitors the outputs or results of the organizations after the transformation process is complete
Branches of AI
Natural Language processing (NLP), Artificial Neural Networks (ANNs), Expert Systems, Case-Based Reasoning, intelligent agents, fuzzy logic, genetic algorithms
A(n) _____ is a person who benefits from team membership but does not make a proportionate contribution to the team's work.
A. "yes" man B. social worker C. work surfer D. free rider E. groupthink
Which of the following refers to a formal team composed of employees from about the same hierarchical level but from different areas of expertise?
A. A special-purpose team B. A cross-functional team C. A self-managed team D. A vertical team E. A diagonal team
_____ is a role in which the individual provides support for team members' emotional needs.
A. A task specialist role B. A dual role C. A nonparticipator role D. A socioemotional role E. None of these
Which of the following refers to a unit of two or more people who interact and coordinate their work to accomplish a specific objective?!
A. An organization B. A team C. A committee D. A council E. Leadership@
_____ is a collaborative approach to negotiation that is based on a win-win assumption, whereby the parties want to come up with a creative solution that benefits both sides of the conflict.
A. BATNA B. A bargaining zone C. Mediation D. Integrative negotiation E. Distributive negotiation
A competitive and adversarial negotiation approach in which each party strives to get as much as it can, usually at the expense of the other party, is called:
A. BATNA. B. a bargaining zone. C. mediation. D. integrative negotiation. E. distributive negotiation.
Which of the following is the first stage of team development?
A. Forming B. Storming C. Norming D. Performing E. Reforming
Michael's team has evolved to the storming stage of team development. As team leader, what should Michael be emphasizing?
A. Lots of informal interaction B. Participation by all team members C. Task accomplishment D. Goal achievement E. Disbanding team
Jessica has just been appointed leader of a new work team in her organization. She is wondering what to do at her first meeting with the group. Which of the following would you suggest?
A. She should waste little time; get the team focused on the task. B. She should help the team clarify roles and responsibilities. C. She should allow time for team members to become acquainted with one another; allow for informal social interaction. D. She should let someone else worry about this since she is the leader. E. She should propose to disband the team.
Which of the following does NOT pertain to teams?
A. Teams have a designated strong leader B. Teams have individual and mutual accountability C. Specific team vision or purpose D. Collective work products E. All of these pertain to teams
Herman is a team leader at CyberChasers. He usually tries to resolve conflict by referring the problem to a third party, such as his boss. This style of conflict resolution is known as:
A. arbitration. B. mediation. C. bargaining. D. superordinate goals. E. negotiation.
The LHX quality task force has a strong leader in Josh Clark. Josh runs efficient meetings, where he leads discussion and decision-making. In the end, tasks are delegated to members for subsequent follow-up. The LHX task force can best be characterized as a(n) _____.
A. club B. team C. group D. organization E. none of these
Andrea is team leader of the focus group at her organization. In the past, the group was plagued by lack of cooperation and disrespect. Today, she told team members that if anyone tried to undermine another member, that person would be kicked off the team. This is an example of a(n):
A. critical event. B. explicit statement. C. experiential carryover. D. implied norm. E. accommodation.
During the _____ stage, the team leader should encourage participation by each team member.
A. forming B. storming C. norming D. adjourning E. performing
The accommodating style of conflict resolution is based on a _____ degree of assertiveness and a _____ degree of cooperativeness.
A. high, high B. high, low C. low, high D. low, low E. low, medium
The collaborating style of conflict resolution is based on a _____ degree of assertiveness and a _____ degree of cooperativeness.
A. high, high B. high, low C. low, high D. low, low E. low, medium
Common types of formal teams are:
A. vertical and diagonal. B. horizontal and diagonal. C. vertical and horizontal. D. horizontal and lateral. E. lateral and diagonal.
A _____ is a group of employees from different departments formed to deal with a specific activity and existing only until the task is completed.
A. vertical team B. command team C. special purpose team D. task force E. functional group
A task force is sometimes called a(n):
A. vertical team. B. cross-functional team. C. command team. D. special-purpose team. E. executive team.
Calculating E & P - ADS
ADS is required, if ADS is higher than MACRS reduce E & P, if MACRS is higher than ADS increase E & P
Listening
About 75% of effective communication
Decentralized Network
Network where members process information equally among themselves until all agree on a decision
Does a person, an organization, or a nation own the internet?
No one actually owns or runs the internet
Community-based practice
Occupational therapy practice in the community as a setting or a location. Occurs in homes, schools, on playgrounds, in day care centers, at work sites, and at senior centers, among other locations.
Code of Ethics
One of the Standards of Professional Conduct. They are organized into seven different principles ("Principles") that certificants and registrants are expected to enact into their professional activities.
One of the most widely used services on the internet *SMTP (Simple Messaging Transfer Protocol) *POP (Post Office Protocol)
Which of the following definitions best defines a fiduciary under the CFP Board's Standards of Professional Conduct?
One who acts in utmost good faith, in a manner he or she reasonably believes to be in the best interest of the client.
Middle-of-the-Road-Management
Adequate organization performance is possible through balancing the necessity to get out work with maintaining morale of people at satisfactory level
Advantages and Disadvantages of Outsourcing
Advantages: Cost savings, gaining outside expertise, improving operations and services, maintaining a focus on core competencies, and accessing outside technology. Disadvantages: Increased logistics and inventory costs, loss of control, potential creation of future competition, negative impact on employees, and risks may not manifest themselves for years.
Why is description important for businesses?
All organizations have a sense of where they stand in the competitive environment but the accuracy of that perception will depend on the degree to which organizations integrate data collection and analysis system across functional boundaries.
Centralized processing
All processing done at one computer Main advantage is the tight control over operations and applications Main disadvantage is the lack of responsiveness to the users needs if they are distant from one another
Which of the following is true with respect to forms of discipline?
All revocations issued by the commission are permanent.
Allocating E & P to Distributions - if distributions exceed current E & P
Allocate current and accumulated E & P to each distribution on pro rata basis, apply accumulated E & P in chronological order
VR Terms: Networked Communication
Allowing users in different locations to interact and manipulate the same world at the same time
CPU Case
Also known as a computer chassis or tower. It is the enclosure containing the computer's main components
Audit
An independent appraisal of an organizations accounting, financial, and operational systems
Valence
An individual opinion of the value of outcomes.
Task Specialist
An individual who has more advanced job-related skills and abilities that other group members possess
Certificant
An individual who is currently certified by the CFP board.
Registrant
An individual who, through not currently certified, has been certified by CFP Board in the past and has an entitlement, direct or indirect, to potentially use the CFP marks. This includes individuals who have relinquished their certification and who are eligible for reinstatement without being required to pass the current CFP certification examination.
Expert system
An information system that contains the specialized knowledge and decision rules used by experts and experienced decision makers so that nonexperts can draw on this knowledge base to make decisions.
Variable Ratio Reinforcement Schedule
An intermittent schedule in which consequences are delivered following a different number of behaviors, sometimes more and sometimes less, that vary around a specified average number of behaviors.
Fixed Ratio Reinforcement Schedule
An intermittent schedule in which consequences are delivered following a specific number of behaviors.
Variable Interval Reinforcement Schedule
An intermittent schedule in which the time between a behavior and the following consequences varies around a specified average.
Management Information System (MIS)
An organized integration of hardware and software technologies, data, processes, and human elements designed to produce timely, integrated, relevant, accurate, and useful information for decision-making purposes
Private Censure
An unpublished written reproach mailed by the Commission to a censored certificant or registrant.
Strategic Development Process
Analyze the Environment: Identify strengths, weaknesses, opportunities, and threats. Understand the environment, customers, industry, and competitors. Determine the Corporate Missions: State the reason for the firm's existence and identify the value it wishes to create. Form a Strategy: Build a competitive advantage, such as low price, design or volume flexibility, quality, quick delivery, dependability, after-sale services, or broad product lines.
As-Is Process Model
As-Is Process Model: 1) Customer approaches counter 2) Order Burger 3) Want fries? Yes/ No 4) Want Drink? Yes/ No 5) Customer Pays Cashier
trust and openness
Asking questions builds _______ ________between managers and employees
Allocating E & P to Distributions - when tax years of corporations and shareholders are not same
Assume that current E & P is able to cover all distributions until parties can show otherwise
Theory Y
Assumes that workers can exercise self-direction, desire responsibility, and like to work.
Theory X
Assumes that workers have little ambition, dislike work, avoid responsibility, and require close supervision.
Self-Mnaged Teams
Autonomous work groups in which workers are trained to do all or most of the jobs in a unit, have no immediate supervisor, and make decisions previously made by first-line supervisors
Piece-rate Incentives
Awards and prizes given at a specific rate as accomplishments occurs, rather than all at one time.
Top¬down
Business Intelligence tools are targeted at the management layers of business. The idea is that BI tools offer measurement→ measurement offers control→ managers control
What is Business Intelligence
Business intelligence is the process by which organizations transform raw data into information for the purpose of engaging in commerce.
Example of business process
Processing a customer's order
Limitations of PERT
Project activities have to be clearly defined, independent, and stable in their relationships, precedence relationships must be specified and networked together, time estimates tend to be subjective and are subject to fudging by managers who fear the dangers of being overly optimistic or not pessimistic enough, there is the inherent danger of placing too much emphasis on the longest, or critical, path. Near critical paths needs to be monitored closely as well.
Oral Communication
Provides verbal discussions, ideas, and processes, either one or one or as a group.
Tangible Benefits
Quantified in terms of monetary value
Level 3: Competent Manager
Organizes people and resources toward the effective and efficient pursuit of predetermined objectives
Cloud Computing
Platform incorporating many recent technologies under one platform (including SaaS model, Web 2.0, grid computers, and utility computing) -Nearly all tech vendors are involved in Cloud Computing EX.) Editing word document on an iPhone, same advantages and disadvantages as distributed computing, big data and super computer
Integrity
Principle 1. Demands honesty and candor which must not be subordinated to personal gain and advantage.
Fairness
Principle 4. Requires impartiality, intellectual honesty and disclosure of material conflicts of interest.
Diligence
Principle 7. Requires the provision of services in a reasonably prompt and thorough manner, including their proper planning or, and supervision of, the rendering of professional services.
Intranets
Private company networks that allow employees to easily access, share, and publish information using internet software.
Downwards
Procedures and practices flow which way in the formal communication channels?
What is data? What is information? How does data become information, and information become intelligence?
The ability to acquire information and apply knowledge and skills. Intelligence is more than just the ability to acquire information. Information gathering is not a good in and of itself. Instead, intelligence is the ability to use that information for some good purpose or toward some productive outcome. Data are facts and figures. Information is data in context. Intelligence is information in use.
Stockholders' Equity
The amount accruing to the corporation's owners
Valence
The attractiveness or desirability of a reward or outcome.
Ration Analysis
The calculation of one or more financial ratios to assess some aspect of the organizations financial health
Critical Path
The computed longest time path(s) through a network.
Goal Difficulty
The extent to which a goal is hard or challenging to accomplish.
Consideration
The extent to which a leader is sensitive to subordinates, respects their ideas and feelings, and establishes mutual trust
Initiating structure
The extent to which a leader is task oriented and directs subordinates work activities toward goal accomplishment
Goal Specificity
The extent to which goals are detailed, exact, and unambiguous.
Goal Acceptance
The extent to which people consciously understand and agree to goals.
Motherboard
The main circuit board containing connectors for attaching additional boards. It usually contains the CPU, basic input/ output system, memory, storage, interfaces, serial and parallel ports, expansion slots, and all the controllers for standard peripheral devices such as the display monitor, disk drive, and keyboard
Distributive Justice
The perceived degree to which outcomes and rewards are fairly distributed or allocated.
Procedural Justice
The perceived fairness of the process used to make reward allocation decisions.
Moore's law
The prediction that about every two years, computer processing power would double and its cost would drop by 50 percent.
target level
The probability of meeting all demand for an item
Reinforcement
The process of changing behavior by changing the consequences that follow behavior.
Data mining
The process of discovering unknown patterns and relationships in large amounts of data.
Protecting information
The process of ensuring that data are reliably and consistently retrievable in a usable format for authorized users, but no one else.
Budgeting
The process of investigating what is being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences; also called budgetary controlling
Analytics
The process of turning raw data into useful information. A sense¬making process Analytics exists on a spectrum from simple observation to complex mathematical methods, but at its heart it is an attempt to understand the convergent or divergent properties of data.
Control
The regulation of organizational activities in such a way as to facilitate goal attainment
Contingency Approach
The relationship between leadership styles and specific situations
Outcomes
The results of a process or undertaking.
Task Force
The team of representatives from different departments, analysts, advisers and top management Internal Users: Employees usign regularly External Users: Customers, contractors, suppliers, etc.
Reinforcement Theory
The theory that behavior is a function of its consequences, that behaviors followed by positive consequences will occur more frequently, and that behaviors followed by negative consequences, or not followed by positive consequences, will occur less frequently.
Web 2.0
The trend of web applications that are more interactive than traditional web applications -Collaboration or e-collaboration is one of its key components -EX.: Blogs, Wikis, Social Networking Sites, RSS Feeds, Podcasts, etc.)
Knowledge
The understanding that one gains from information.
Three-needs Theory
There are three major acquired needs that are major motives in work.
The turing test is used to test a systems ability to exhibit intelligence. True or False?
True
Newsgroups
Typically more general and can cover any topic -Allow people to get together for fun or for business purposes
Optical Discs
Use laser beams to access and store data. Examples include CD-ROMs, WORM discs, and DVDs
Pull Technology
User states a need before getting information -Entering a URL in a web browser to go to a certain website
Digital Dashboards
Visual display of important information that is consolidated and arranged on a single screen so that information can be digested in a single glance and easily explored.
Random Access Memory (RAM)
Volatile memory, in which data can be read from and written to; it is called read-write memory
continuous improvment team
Volunteers of workers and supervisors who meet intermittently to discuss workplace and quality-related problems; formerly called quality circle
Property Dividends - Liabilities Assumed Rule/Basis of distributed property
Reduce amount distributed by liabilities assumed by shareholder, basis of distributed property = FV
Screening Control
Relies heavily on feedback processes during the transformation process
2 Dimensions of GIS: Control
Requires centralized architecture for data, requires standard formats for reports, requires defined behaviors for different processes, requires performance- tracking system
Example of an Intelligent Agent is...
Roomba, the automatic vacuum cleaner, performs physical functions (avoid hitting furniture) that humans accomplish through eyes
Calculating E & P
See Pg. 19-7 in textbook
Target markets
Segments that a business will aim its product and marketing efforts toward Attempts to find those most likely to buy the product
Norms
Shared beliefs about how people should think and behave
Virtual Worlds
Simulated environment designed for users to interact via avatars -Avatar- 2D or 3D graphical representation of a person in the virtual world/ used in chat rooms and online games -Strategy Analytics predicts that 640 million people worldwide will inhabit virtual worlds by 2015 EX.) Active worlds, Club Penguin, EGO, Entropia Universe, Habbo, Runescape, Second Life
1. Use "I statements". 2. Stick to facts rather than judgments. 3. Be clear, specific, and direct in your requests.
Some valuable techniques for communicating with candor include
Expectancy Theory
States that an individual tends to act in a certain way based on the expectation that the act will be followed by a given outcome and on the attractiveness of that outcome to the individual.
3 Types of Decisions
Structured Semi-Structured Unstructured
Customer relationships
What type of relationships do our customer segments expect us to establish and maintain with them? Which ones have we established and how costly are they?
Revenue streams
What value are customers really willing to pay? What/how do they currently pay? How would they prefer to pay? Basically, how will you generate cash?
Value propositions
What value do we deliver? What customer problem are we helping to solve and what needs are we satisfying? "Of all the choices, why you?"
AI Supports Decision Making Analyses
What-Is analysis, What-if Analysis, Why, What does it mean, what should be done, when should it be done?
DSS Capabilities
What-if analysis Goal-seeking Sensitivity analysis Exception reporting analysis
Data clusters
When three or more database elements occur together( i.e., cluster) in a significant way.
Electronic data interchange (EDI)
When two companies convert their purchase and ordering information to a standardized format to enable the direct electronic transmission of that information from one company's computer system to the other company's computer system.
Sequence patterns
When two or more database elements occur together in a significant pattern, but one of the elements precedes the other.
Association or affinity patterns
When two or more database elements tend to occur together in a significant way.
Channels
Where will the consumer purchase the product/service? Which avenues are the most efficient?
Feedback Loop
Whether organizations employ BI from a top¬down or bottom¬up perspective, a feedback loop is necessary for the generation actual intelligence specific to that organization.
secure sockets layer (SSL) encryption
internet browser-based encryption that provides secure off-site web access to some data and programs
IP
internet protocol- responsible for moving packet of data from node to node
social media
internet-based and mobile technologies used generate interactive dialogue with members of a network
decoding
interpreting and making sense of the message
Control Unit (1st part of the CPU)
interprets software instructions and literally tells the other hardware devices what to do, based on the software instructions
Motivators
intrinsic (psychological) factors that create job satisfaction.
Corporate infusion
introduction of new services or programs from outside of a business in an effort to make them permanent features of the corporate entity
part period balancing
inventory ordering technique that balances setup and holding costs by changing the lot size to reflect requirements of the next lot size in the future.
Organizational conversations
involve a give-and-take exchange of information.
B2B
involves electronic transactions between businesses
storming
is characterized by the emergence of individual personalities and roles and conflicts within the group.
Operating Budget
is concerned with planned operations within the organization
dysfunctional conflict
is conflict that hinders the organization's performance or threatens its interests.
Personality conflict
is defined as interpersonal opposition based on personal dislike, disagreement, or differing styles.
Outsourcing
is domestic, like human resources being overseas
Fiedler's dimension termed leader member relations
is the degree of confidence, trust, and respect subordinates had for their leader
forming
is the process of getting oriented and getting acquainted.
human language is complex:
it is hard for a computer to judge to sentiments of a tweet
kanban
jap term for card, which has come to mean signal, a kanban system moves parts through production via a pull from a signal.
institutional investors
large organizations (such as pension funds, mutual funds, and insurance companies) that invest their own funds or the funds of others
Reduced Instruction Set Computer Chips (RISC)
limit the number of instructions the CPU can execute to increase processing speed
raw material inventory
materials that are usually purchased but have yet to enter the manufacturing process.
performing
members concentrate on solving problems and completing the assigned task.
adjourning
members prepare for disbandment.
nonverbal communication
messages sent outside of written or spoken word
click and brick
mixes traditional commerce and e-commerce
broadband
multiple pieces of data are sent simultaneously to increase transmission rate
NIC
network interface card physical link between a network and a workstation
wireless network
network using wireless instead of wired technology
extranets
networks that allow companies to exchange information and conduct transactions with outsiders by providing them direct, web-based access to authorized parts of a company's intranet or information system
robots
one of the most successful applications of artificial intelligence. they perform well at simple repetitive tasks and can be used to free workers from tedious or hazardous jobs
receiver
person whom intended message is for
intranets
private company networks that allow employees to easily access, share, and publish information using internet software
Needs assessment
process by which problems, needs, gaps, and issues are identified for the purpose of developing strategies, or programs to address the concerns of a community or population
active listening
process of actively decoding and interpreting verbal messages
work in process inventory
products or components that are no longer raw materials but have yet to become finished products.
dashboards
provide a comprehensive visual view of corporation perforce measures (Key performance indicators, KPIs), trends and exceptions from multiple business areas, it provides an at-glance view of the health of an organization
Memory Sticks
provide nonvolatile memory for a range of portable devices including computers, digital cameras, MP3 players (removable)
advantages of ERP
provides integration of the supply chain, production, and administrative process. 2. Creates commonality of databases. 3. Can incorporate improved, reengineered, best processes.
buying stock on margin
purchasing stocks by borrowing some of the purchase cost from the brokerage firm
virtual organization
pure digital
Volatility
refers to a device's ability to function with or without power
Data Link layer
reliable connection that controls the communication link
net material requirement
result of adjusting gross requirements for inventory on hand and schedule receipts.
extrinsic reward
reward given to a person by the boss, the company, or some other person
protocols
rules that govern data communication, including error detection and message length
level schedules
scheduling products so that each day's production meets the demand for that day.
Extranet
secure network that uses web and internet to connect intranets of business partners so communication between organizations and consumers is possible
components of a data communication system
sender receiver devices modem or routers communication medium (channel)
what are the 3 basic components of data communication
sender/receiver devices modems or routers communication medium (channel)
Redundant communications
sending the same message using different channels
value chain
series of activities designed to meet business needs by adding value or cost in each phase of the process
semantics
study of the meaning of words
security
system of safeguards for protecting information technology against disasters, system failures, and unauthorized access that result in damage or loss
ratio frequency identification (RFID) tags
tags containing minuscule microchips that transmit information via radio waves and can be used to track the number and location of the objects into which the tags have been inserted
stretch goals
targets that are particularly demanding, sometimes even thought to be impossible
Centralized Network
team members must communicate through one individual to solve problems or make decisions
wagner within procedure
technique for lot size computation that assumes a finite horizon beyond which there are no additional net requirements to arrive at an ordering strategy.
contingent workforce
temporary, freelance or contract workers whose employment is contingent upon demand for their services
Jargon
terminology specific to particular profession or group
Research on leadership made it clear
that predicting leadership success involved something more complex than isolating a few leader traits or preferable behaviors
Personal Networking
the acquisition and cultivation of personal relationships that cross departmental, hierarchical, and even organizational boundaries
Central Processing Unit (CPU)
the actual hardware that interprets and executes the program (software) instructions and coordinates hows other hardware devices work together
organizational behavior modification (OB Mod)
the application of reinforcement theory in organizational settings
Raw material inventory
the basic inputs in a manufacturing process
Chip Line Width
the distance between transistors on a chip. the shorter the chip line width the faster the chip since more transistors can be placed on a chip and the data and instructions travel short distances during processing.
maturity date
the exact date the issuer of a bond must pay the principal to the bondholder
Securities and Exchange Commission (SEC)
the federal agency that has responsibility for regulating the various stock exchanges
Finished goods inventory
the final outputs of manufacturing operations
Gigahertz (GHz)
the number of billions of CPU cycles per second
Megahertz (MHz)
the number of millions of CPU cycles per second
Stockout
the point when a company runs out of finished product
capital gains
the positive difference between the purchase price of a stock and its sale price
routing
the process of deciding which path that data takes
data mining
the process of discovering unknown patterns and relationships in large amounts of data
protecting information
the process of ensuring that data are reliably and consistently retrievable in a useable format for authorized users, but no one else
data encryption
the transformation of data into complex, scrambled digital codes that can be encrypted only by authorized users who possess unique decryption keys
knowledge
the understanding that one gains from information
valence
the value an outcome holds for the person contemplating it
processing information
transforming raw data into meaningful information
encoding
translating a message into symbols or language
Management by wandering around (MBWA)
used to describe a manager's literally wandering around his/her organization and talking with people across all lines of authority
information
useful data that can influence people's choices and behavior
Design Thinking
uses techniques and tools to define a problem, create and consider multiple options, refine these options through iteration, and then settle on a winning solution
procedural justice
using fair processes in decision making and making sure others know that the process was fair as possible
web services
using standardized protocols to describe data from one company in such a way that those data can automatically be read, understood, transcribed, and processed by different computer systems in another company
monitoring and surveillance agents
usually track and report on computer equipment and network systems to predict when a system crash or failure might occur
Team Management
Work accomplishment is from committed people; interdependence through a common stake in organization purse leads to relationship of trust and respect
Social Loafing
Working less hard and being less productive when in a group
What is WWW?
World Wide Web -Invented by Tim Berners-Lee
WiMAX
Worldwide Interoperability for Microwave Access -Broadband wireless technology -Based on IEEE 802.16 standards -Designed for wireless metro area networks -Theoretically has faster data transfer rates and a longer range than WiFi -Disadvantages: -- Interference from other wireless devices, High costs, and interceptions from weather conditions
Lifestyle Venture
a business venture in which the entrepreneur creates out of a desire for independence, financial freedom, and complete control
groupthink
a cohesive group's blind unwillingness to consider alternatives.
data warehouse
a collection of data from variety of sources used to support decision-making applications and generate business intelligence
Maslow's need hierarchy
a conception of human needs organizing needs into hierarchy of five major types
prospectus
a condensed version of economic and financial information that a company must file with the SEC before issuing stock; the prospectus must be sent to prospective investors
outcome
a consequence a person receives for his or her performance
cycle counting
a continuing reconciliation of inventory with inventory records.
bond
a corporate certificate indicating that a person has lent money to a firm (or a government)
formal group
a group established to do something productive for the organization and is headed by a leader
informal group
a group formed by people seeking friendship and has no officially appointed leader, although a leader may emerge from the membership.
Alderfer's ERG theory
a human needs theory postulating that people have three basic set of needs that can operate simultaneously
corporate portal
a hybrid of executive information systems and intranets that allows managers and employees to use a web browser to gain access to customized company information and to complete specialized transactions
law of effect
a law formulated by Edward Thorndike in 1911 stating that behavior that is followed by positive consequences will likely be repeated
bill of materials
a listing of the components, their descriptions, and the quantity of each required to make one unit of a product.
Quality
a product or service free of deficiencies, or the characteristics of a product or service that satisfy customer needs
quantity discount
a reduced price for items purchased in large quantities.
Flextime or flexible work hours
a scheduling system in which employees are required to work a specific number of hours a week but are free to vary those hours a week but are free to vary those hours within certain limits - core hours
ISO 9000
a series of five international standards, from ISO 9000 to ISO 9004, for achieving consistency in quality management and quality assurance in companies throughout the world
probabilistic demand
a statistical model applicable when product demand or any other variable isn't known but can be specified by means of a probability distribution.
Boundaryless structure
a structure is not defined by or limited to artificial horizontal, vertical or extended boundaries
Economic order quantity
a system of formulas that minimizes ordering and holding costs and helps determine how much and how often inventory should be ordered
bar code
a visual pattern that represents numerical data by varying the thickness and pattern of vertical bars
Cross-functional team
a work team composed of individuals from various functional specialties
stock splits
an action by a company that gives stockholders two or more shares of stock for each one they own
electronic scanner
an electronic device that converts pointed text and pictures into digital images
Portfolio entrepreneurship
an entrepreneur who owns a minority or majority stake in several ventures, often create a lot of churn in their portfolios as they seek out new business opportunities that link to their existing businesses
enterprise resource planning
an info system for identifying and planning the enterprise wide resources needed to take, make, ship, and account for customer orders.
expert system
an information system that contains the specialized knowledge and decision rules used by experts and experienced decision makers so that nonexperts can draw on this knowledge base to make decisions
decision support system (DSS)
an information system that helps managers understand specific kinds of problems and potential solutions and analyze the impact of different decision options using "what-if" scenarios
Total Quality Management
an integrated, principle-based, organization-wide strategy for improving product and service quality
mutual fund
an organization that buys stocks and bonds and then sells shares in those securities to the public
virtual organization
an organization that consists of a small core of full time employees & outside specialists temporarily hired as needed to work on projects
Learning organization
an organization that has developed the capacity to continuously learn, adapt & change
Which of the following is not part of the CFP Board's Standards of Professional Conduct? a. Code of Ethics b. Risk Management c. Rules of Conduct d. Candidate Fitness Standards
b. Risk Management
Idea
becomes viable only when it remains anchored in products/services that create/add value to customers and remains attractive, durable, and timely
Face-to-face communications
best for communicating with people who are exhibiting strong emotions
lean medium
best for routine situations & to avoid overloading
debenture bonds
bonds that are unsecured (i.e., not backed by any collateral such as equipment)
brokerage
bring sellers and buyers together on the web and collects commissions on transactions between these parties
C2C
business transactions between users
Ecommerce
buying and selling goods and services over the internet
diversification
buying several different investment alternatives to spread the risk of investing
Which of the following best describes the intent behind the principles of the CFP Board's Code of Ethics? a. To avoid getting sued by clients. b. To make more money as a financial planner. c. To establish the highest principles and standards that are aspirational in character and provide a source of guidance for certificants and registrants. d. To assist candidates in getting certified.
c. To establish the highest principles and standards that are aspirational in character and provide a source of guidance for certificants and registrants.
Primary Cache
cache memory that is built directly into the CPU's circuit
Application Software
can be commercial software or software developed in house and is used to perform a variety of tasks on a personal computer
WAN
can span several cities, states, or even countries, usually owned by several parties
job enrichment
changing a task to make it inherently more rewarding, motivating, and satisfying
job rotation
changing from one task to another to alleviate boredom
hygiene factors
characteristics of the workplace, such as company policies, working conditions, pay, and supervision, that can make people dissatified
Personal Communication Channels
coexist with formal channels within an organization but may skip hierarchical levels, cutting across vertical chains of command to connect virtually anyone in the organization
Teamwork
collaboration between managers and nonmanagers, across business functions, and between companies, customers, and suppliers
Strategic Partnerships
collaborative relationships between two or more organizations in which they combine their resources & capabilities for some business purpose
packet
collection of binary digits including message data and control characters for formatting and transmitting sent from computer to computer over a network
Data warehouse
collection of data from a variety of sources used to support decision¬making applications and generate business intelligence
exchange-traded funds (ETFs)
collection of stocks, bonds, and other investments that are traded on exchanges but are traded more like individual stocks than like mutual funds
non defensive communication
communication that is assertive, direct, and powerful
B2C
companies sell directly to consumers
Offshoring
company makes something overseas for lower cost
application logic
concerning the software processing requests for users
task role or task-oriented role
consists of behavior that concentrates on getting the team's tasks done.
Memory Cards
contain high capacity storage that holds data such as captured music, images or text files (non-removable)
just in time
continuous and forced problem solving via a focus on throughout and reduced inventory.
Indexing
copy found by spider is returned to the search engine and is stored in a data center- collection of web pages
Crawling the Web
copying what is on web pages and constantly rechecking to see if they have been updated (use spiders)
team
defined as a small group of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hold themselves mutually accountable
Trust
defined as reciprocal faith in others' intentions and behaviors
Group
defined as two or more freely interacting individuals who share collective norms, share collective goals, and have a common identity
informal communication channels
develop outside the formal structure and do not follow the chain of command
Just in time layout
distance reduction, increased flexibility, impact on employees and reduced space and inventory.
lean operations
eliminates waste through a focus on exactly what the customer wants.
Chart (Secondary Storage)
equipment designed to store large volumes of data for long term (CD, DVD, memory stick)
Chart (Input Devices)
equipment used to capture information and commands (mouse, keyboard)
Chart (Output Devices)
equipment used to see, hear, or accept results of information processing requests (monitor, printer)
stock certificates
evidence of stock ownership that specifies the name of the company, the number of shares it represents, and the type of stock being issued
advertising
extension of traditional advertising media
safety stock
extra stock to allow for uneven demand.
Hygiene Factors
extrinsic (environmental) factors that create job dissatisfaction.
Formal Communication Channels
flow within the chain of command or task responsibility defined by the organization
external communication
flows between people inside and outside the organization
horizontal communication
flows within and between work units; main purpose is to coordinate
Operations Control
focuses on the processes the organization uses to transform resources into products or services
comprehensive style
focusing on the speaker's logic
formal communication channel
follow the chain of command and recognized as officials
motivation
forces that energize, direct, and sustain a persons efforts
MAN
handles data communication from multiple organizations in a city and sometimes from nearby cities
Intrapreneurship
harnessing the "resources within an organization to develop, improve, promote, extend, or enhance a new or existing program"
Leadership Studies
has only been studied since the early twentieth century. University of Pennsylvania was first.
FitBit is dedicated to helping people lead _______, more _____ lives.
healthier, active
shopping and information agents
help users navigate through the vast resources available on the Web and provide better results in finding information. these agents can navigate the Web much faster than humans and gather more consistent, detailed information. they can serve as search engines, site reminders, or personal surfing assistants
telepresence technology
high-definition videoconference system that simulates face-to-face interactions by users
junk bonds
high-risk, high-interest bonds
big data
high-volume, velocity and variety information assets that demand cost-effective, innovative form of information processing for enhanced insight and decision making
presentation logic
how data is returned to the client
HTML
hypertext markup language used to create web pages can be written in a simple .txt file
<a href>
inserts a hyperlink that you can click to get to another website
<img src="x">
inserts and image
MindMeister is a ________________ application.
Web based
Push Technology (Webcasting)
Web server delivers information to users who have signed up for this service -Supported by many web browsers -Also available from vendors -Delivers context to users automatically at set intervals or when a new event occurs -EX.) "A newer version of Adobe flash is available, would you like to install it?"
Cost structure
What are the most important costs inherent in our business model? Which key resources are most expensive?
functional conflict
which benefits the main purposes of the organization and serves its interests
extinction
withdrawing or failing to provide a reinforcing consequence
data-mining agents
work with a data warehouse, detecting trends and discovering new information and relationships among data item that were not readily apparent
Database
A collection of all relevant data organized in a series of integrated files
Trends in Networking
-Many are already used -- wireless technologies and grid computing -Newer but attracting a lot of attention -- WiMAX and Cloud Computing
3 types of processing configurations
1. centralized 2. decentralized 3. distributed
disadvantages of ERP
1. is very expensive to purchase, and even more costly to customize. 2. implementation may require major changes in the company and its processes. 3. is so complex that many companies can't adjust to it.
ohno's seven waste
1. overproduction 2. queues- ide time, storage, and waiting 3. transportation 4. inventory 5. motion 6. over-processing 7. defective product.
functions of inventory
1. to separate various parts of the production process. 2. to separate the firm from fluctuations in demand and provide a stock of goods that will provide a selection for customers. 3. to take advantage of quality discounts, because purchases in larger quantities may reduce the cost of goods of their delivery. 4. to health against inflation and upward price changes.
Birth Year of the Internet
1969 - Started as a US Dept. of Defense project called ARPANET
What event signifies the birth of the Internet?
1987 - National Science Foundation Network (NSFNET)
internet protocol address (IP address)
208.77.188.166 assigned by the internet corporation for assigned names and numbers
Servant Leader
A leader who serves others by working to fulfill followers' needs and goals as well as to achieve the organizations' larger mission
Bureaucratic Control
A form of organizational control characterized by formal and mechanistic structural arrangements
Gossip Chain
A format where several individuals spread information, which is sometimes false or misleading, through an organization.
Supply Chain
A global network of organizations and activities that supplies a firm with goods and services.
Activity Map
A graphical link of competitive advantage, KSFs, and supporting activities.
Charismatic Leader
A leader who has the ability to inspire and motivate people to transcend their expected performance, even to the point of personal sacrifice
Use multiple media to send important messages
By saying the same thing more than once via multiple channels, leaders add weight to the message and keep the issue at the top of the employees minds. This is in reference to which key point for practicing persuasion?
Level 2: Contributing Team Member
Contributes individual capabilities to the achievement of group objectives and works effectively with others in a group setting
Strategic Control
Control aimed at ensuring that the organization is maintaining an effective alignment with its environment and moving toward achieving its strategic goals
Clan Control
Control based on the norms, values, shared goals, and trust among group members
Market Control
Control based on the use of pricing mechanisms and economic information to regulate activities within organizations
Balanced Scorecard
Control system combining four sets of performance measures: financial, customer, business process, and learning and growth
Property Dividends (effect on corporation)
Corp is treated as if sold property for FV, recognize gain but not loss
The commission may make the following decisions regarding a petition for reconsideration by a candidate for certification:
Grant the petition after determining the conduct does not reflect adversely on the individual's fitness as a candidate for CFP certification, or adversely upon the profession or the CFP certification marks (and certification should be permitted). Deny the petition after determining the conduct does reflect adversely on the individual's fitness as a candidate for CFP certification, or adversely upon the profession or the CFP certification marks (and certification should be barred).
Property Dividends (effect on corps E & P) - Amount of reduction of E & P
Greater of FV or Basis less liabilities
Upwards
Grievances and disputes flow which way in the formal communication channels?
Semiautonomous Work Groups
Groups that make decisions about managing and carrying out major production activities but get outside support for quality control and maintenance
Open Communication
Helps people accept, understand, and commit to goals
two-factor theory
Herzbergs theory describing two factors affecting peoples work motivation and satisfaction
Open Communication
Higher productivity, better decision making, and lower turnover rates
EPIC
System described by the guest speaker Jessica that allows doctors and nurses from different hospitals and offices to view all of the patients medical records easily
IEEE 802.11g is an indication of your wireless network adapter
TRUE
the embedded references in hypermedia documents are called hypertext, which consist of links users can click to follow a particular thread
TRUE
Radio frequency identification (RFID) tags
Tags containing minuscule microchips that transmit information via radio waves and can be used to track the number and location of the objects into which the tags have been inserted.
Economic Feasibility
Tangible, intangible, Cost-effectiveness analysis: concept that a dollar today is worth more than a dollar a year from now
Current E & P
Taxable Income as adjusted
Work Teams
Teams that make or do things like manufacture, assemble, sell or provide service
Parallel Teams
Teams that operate separately from the regular work structure, and exist temporarily
Project and Development Teams
Teams that work on long-term projects but disband once the work is completed
Self-Designing Teams
Teams with the responsibilities of autonomous work groups, plus control over hiring, firing, and deciding what tasks members perform
How do you do Business Intelligence?
Technologically
Technical Feasibility
Technology to be used Is the technology in new system available or feasible to implement
Control Unit
Tells the computer what to do, such as instructing the computer which device to read or send output to
Why is organizational BI so difficult? What are three strategies for ensuring successful organizational implementation?
This is perhaps the most difficult aspect of any BI implementation. Defining the technological capabilities needed to implement a BI system is rather straight¬forward, but defining the organizational capabilities needed is significantly complex. Ideally, the motivation for implementation will be tied directly to a business need. This strategic impetus will continue to drive the project when process is dragged down by complications or difficulties. There is also a marketing (promotion) component to any implementation that is necessary to increase support from the top and bottom of an organization. This early support will increase the likelihood of use once the system is in place. The most important quality is patience. Just as humans acquire intelligence slowly over time, organizations learn to adapt to the new BI tools and the benefits they provide. As these systems mature, the become more valuable which implies a long¬term return on investment.
Establish credibility
This key point for practicing persuasion is based on knowledge, expertise, and interpersonal skills
Stakeholders
Those with a vested interest in an organization, including customers, distributors, suppliers, owners, lenders, employees, and community members.
Country Club Management
Thoughtful attention to the needs of people for satisfying relationships leads to a comfortable, friendly organization atmosphere and work tempo
Research by Fiedler uncovered
Three contingency dimensions that define the key situational factors for determining leader effectiveness.
To-Be Process Model
To-Be Process Model: 1) Customer approaches cashier 2) Orders a combo meal 3) Customer pays cashier
Data Mining
Tools used to discover patterns and relationships among data elements. Bottom¬up processing that explores data searching for unknown but potential relationships.
Accumulated E & P
Total of all prior years current E & P reduced by distributions from E & P
Outsourcing
Transferring a firm's activities that have traditionally been internal to external suppliers.
Uniform Resource locators (URLS)
identify a web page, the address of the document or site on the internet
biometrics
identifying users by unique, measurable body features, such as fingerprint recognition or iris scanning
Disk Drive
A peripheral device for recording, storing, and retrieving information
Fiedler assumed
A person's leadership style was Fixed.
International Strategy
A strategy in which global markets are penetrated using exports and licenses.
Global Strategy
A strategy in which operating decisions are centralized and headquarters coordinates the standardization and learning between facilities.
Multi domestic Strategy
A strategy in which operating decisions are decentralized to each country to enhance local responsiveness.
Written Communication
A system where the sender writes emails, reports, memos, letters, and other documents.
Goal
A target, objective, or result that someone tries to accomplish.
Gatekeeper
A team member who keeps abreast of current developments and provides the team with relevant information
Informing
A team strategy that entails making decisions with the team and then informing outsiders of its intentions
Work team effectiveness is based on three outcomes: productive output, capacity to adapt and learn, and _____.
A. cohesiveness B. satisfaction C. commitment D. leadership E. norms
A functional team is also referred to as a(n) _____.
A. command team B. task force C. special purpose team D. horizontal team E. interorganizational team
Wyatt has recently been appointed by his boss to a group that has been meeting since the company he works for was founded. The purpose of this group is to make budgetary decisions on an ongoing basis. Wyatt's group can best be defined as a _____.
A. committee B. global team C. focus group D. virtual team E. self-directed team
The _____ conflict resolution style is best when maintaining harmony is important.
A. competing style B. collaborating style C. accommodating style D. avoiding style E. comprising
Once some teams have evolved to the _____ stage of team development, task performance is no longer the top priority.
A. performing B. storming C. adjourning D. norming E. achieving
At FEI Industries, teams of product developers coordinate their work electronically at the North American, European, and Asian sites to coincide with peak operating hours at each location. Such teams are referred to as a _____.
A. project team B. committee C. focus group D. global team E. self-directed team
All of these behaviors are consistent with the role of a task specialist EXCEPT:
A. seek information. B. initiation. C. summarize. D. compromise. E. energize.
Cross-border work teams made up of members of different nationalities whose activities span multiple countries are called:
A. self-directed teams. B. project teams. C. multinational teams. D. long distance teams. E. global teams.
There are two types of roles that emerge in teams. They are the ____ role and the ____ role.
A. task specialist, socioeconomic B. generalists, socioeconomic C. task specialist, socioemotional D. generalists, socioemotional E. socioemotional, socioeconomic
Self-directed teams are _____ teams.
A. temporary B. permanent C. ad-hoc D. task force E. none of these
The forming stage of team development is characterized by:
A. the establishment of order and cohesion. B. cooperation. C. problem solving. D. orientation. E. conflict.
Self-directed teams consist of 5 to 20 _____ workers.
A. union B. non-union C. multiskilled D. low wage E. all of these
Carolyn is a member of a work team at Creepy Clown's Company. She and her teammates possess several different skills and are able to perform a major organizational task with little or no oversight from management. Carolyn is a member of a(n):
A. union. B. self-directed team. C. project team. D. special-purpose team. E. bureaucratic team.
Internal collaboration
1. Cross-functional team 2. Task force (or ad hoc committee)
Property Dividends - Effect on shareholder
Amount distributed = FV or property, taxed as dividend to extent of E & P, excess is treated as return of capital to extent of basis in stock with the remainder treated as a gain
Electronic scanner
An electronic device that converts printed text and pictures into digital images.
External Audit
An evaluation conducted by one organization, such as a CPA firm, on another
Management Audit
An evaluation of the effectiveness and efficiency of various systems within an organization
Motivation
An incentive or drive to complete a task, function, or idea.
Flexible Work Arrangements
1. Telecommuting 2. Compressed Workweek 3. Flextime 4. Job Sharing 5. Contingent Workforce
Decentralized Network
Best for complex, difficult work environments where teams need a free flow of communication in all directions
Coinbase uses a (Blank) security measure on all their accounts.
Bi-level application
Certified Financial Planner Board of Standards, Inc.
Board that maintains professional standards necessary for competency and ethics in the financial planning profession for those professionals who have been granted the right to use their designation.
Virtual Reality
-Computer-generated, 3D images to create the illusion of interaction in a real-world environment -Began with military fight simulations in the 1960s
2 components of an Expert system
-Forward chaining: series of "if-then-else", condition pairs are performed: if condition evaluated first, then corresponding then-else action -Backward chaining: starts with the goal-the "then" part, backtracks to find the right solution
Transactional Leader
Clarifies subordinates' roles and task requirements, initiates structure, provides rewards, and displays consideration for followers
QuickBooks is a _______ based software.
Cloud
symptoms of groupthink
-Invulnerability, inherent morality, and stereotyping of opposition. -Rationalization and self-censorship -Illusion of unanimity, peer pressure, and mindguards. -Groupthink versus "the wisdom of crowds."
GIS for Multinational Structure
-Low requirements for communication technology -Influenced by local hardware and software vendors -Each subsidiary operates on a different platform (Nestle, Tyco, etc.)
GIS: E-Business
-Major factor in the widespread use of global information systems -Builds on the advantages and structures of traditional business
GIS: Growth of the Internet
-Simplify Communication -Improve Business Relationships -Consumers can engage in comparison shopping more easily
10 Strategic OM Decisions
Design of goods and services, Managing quality, Process Strategy, Location Strategies, Layout Strategies, Human Resources, Supply-chain Management, Inventory Management, Scheduling, and Maintenance.
Traits
Distinguishing personal characteristics, such as intelligence, self-confidence, energy, and independence
What is the backbone of the internet? What is it made of?
Foundation network linked with fiber optic cables
Process
Generates the most useful type of information for decision-making, including transaction-processing reports and models for decision analysis
when you submit a key word to google it will search as many websites as possible to give you your results
FALSE
VR Terms: Telepresence
Giving users the feeling that they're in another location - like being there
Compared to traditional bar codes, QR codes have lower storage capacity. True or False?
False
QR codes can only be read from one direction. True or False?
False
GIS
Global Information System -Info. system that works across national borders -Facilitates communication between headquarters and subsidiaries in other countries -Incorporates all the technologies and applications found in a typical info system
Authentic Leadership
Individuals who know and understand themselves, who espouse and act consistent with higher order ethical values, and who empower and inspire others with their openness and authenticity
Assemble-to-order operation
a manufacturing operation that divides manufacturing processes into separate parts or modules that are combined to create semicustomized products
Open-Book Management
Involving employees in workplace decision by opening up the financial statements of the employer.
Motivation
Is the result of an interaction between the person and a situation; it is not a personal trait.
make-to-stock operation
a manufacturing operation that orders parts and assembles standardized products before receiving customer orders
Continuous-flow production
a manufacturing operation that produces goods at a continuous, rather than a discrete, rate
Batch production
a manufacturing operation that produces goods in large batches in standard lot sizes
QR (quick response) code
a matrix barcode consisting of black modules arranged in a square pattern on a white background
Productivity
a measure of performance that indicates how many inputs it takes to produce or create an output
Partial productivity
a measure of performance that indicates how much of a particular kind of input it takes to produce an output
abc analysis
a method for dividing on hand inventory into three classifications based on annual dollar volume.
goal-setting theory
a motivation theory stating that people have conscious goals that energize them and direct their thoughts and behaviors toward a particular end
NASDAQ
a nationwide electronic system that links dealers across the nation so that they can buy and sell securities electronically
router
a network connection device containing software that connects network systems and controls traffic flow between them
Intranet
a network used within an organization, uses protocols and technologies to collect store and disseminate data for business activities
Materials requirement planning
a production and inventory system that determines the production schedule, production batch sizes, and inventory needed to complete final products
virus
a program or piece of code that, without your knowledge, attaches itself to other programs on your computer and can trigger anything from a harmless flashing message to the reformatting of your hard drive to a systemwide network shutdown
firewall
a protective hardware or software device that sits between the computers in an internal organizational network and outside networks, such as the internet
stockbroker
a registered representative who works as a market intermediary to buy and sell securities for clients
sinking fund
a reserve account in which the issuer of a bond periodically retires some part of the bond principal prior to maturity so that enough capital will be accumulated by the maturity date to pay off the bond
Task force (or ad hoc committee)
a temporary committee or team forced
Barriers to Communication
Obstacles that interrupt the flow of conveying and receiving messages.
Gantt Chart
Planning charts used to schedule resources and allocate time.
Merit-based Rewards
Positive reinforcement based on specific accomplishments, with rewards given for achievement of specified measurements.
Disciplinary Rules
Provide detailed procedures followed by the CFP Board in enforcing the Code of Ethics, Rules of Conduct and Practice Standards.
Business Intelligence (BI)
Provides historical, current, and predictive views of business operations and environments and gives organizations a competitive advantage in the marketplace
Financial Plannign
Providing "material elements of the financial planning process" i.e., the process of determining whether and how an individual can meet life goals through the proper management of financial resources.
VR Terms: Simulation
Rendering 3D appearance
2 Dimensions of GIS: Coordination
Requires: Decentralized architecture for data, standardization within departments, ability to communicate these standards to other departments -Collaboration systems, -Technologies that support informal communication and socialization
Stock Attribution - Corporations
Stock owned by a corporation is deemed to be owned proportionally by any shareholder who owns 50% or more interest in the corporation.
Main Memory
Stores data and information and is usually volatile; its contents are lost when electrical power is turned off. It plays a major role in a computer's performance
Data warehouse
Stores huge amounts of data that have been prepared for data mining analysis by being cleaned of errors and redundancy.
Managerial-Streamlining
Streamlining improves business process efficiencies by simplifying or eliminating unnecessary steps; gets rids of bottlenecks (when resources reach full capacity and cannot handle additional demand) and redudencies
Industry
Sub-divisions of sectors consisting of a group of firms producing a similar product or service
Global Structure
Subsidiaries have little autonomy -Sometimes calles a franchiser -Extensive communication between headquarters and subsidiaries necessary -Heavy reliance on headquarters
Upwards
Suggestions for improvement flow which way in the formal communication channels?
Information Technologies
Support Information systems and use the internet, computer networks, database systems, POS systems, and radio-frequency-Identification (RFID) tags
Optical character recognition
The ability of software to convert digitized documents into ASCII text (American Standard Code for Information Interchange) that can be searched, read, and edited by word processing and other kids of software.
Communication
The act of transmitting information, thoughts, and processes through various channels.
Liabilities
The amounts a corporation owes to various creditors
Channel Richness
The capacity to convey as much information as possible during the communication process.
Job Sharing
Two or more people split a full-time job.
Information Literacy
Understanding the role of information in generating and using business intelligence
What is URL?
Uniform Resource Locators -Identifies a web page, the address of a document, or site on the internet -Suffix indicating the top level domain (TLD) it belongs to
Web services
Using standardized protocols to describe data from one company in such a way that those data can automatically be read, understood, transcribed, and processed by different computer systems in another company.
An example of Neural Network is...
Visa and other credit card companies use these to analyze large amounts of customer information to establish patterns where logic and rule rules are unknown. When these patterns are broken or have odd behavior fraud is detected
norming
conflicts are resolved, close relationships develop, and unity and harmony emerge.
LAN
connects workstations and peripheral devices that are in close proximity
maintenance role or relationship-oriented role
consists of behavior that fosters constructive relationships among team members.
4G
current generation of cellular networks
optical character recognition
the ability of software to convert digitized documents into ASCII text (American Standard Code for Information Interchange) that can be searched, read, and edited by word-processing software as well as other kinds of software
Chart (CPU)
the actual hardware that interprets and executes the software instructions and coordinates how all other hardware devices work together
Inventory
the amount and number of raw materials, parts, and finished products that a company has in its possession
Channel Richness
the amount of information that can be transmitted during a communication episode
inventory position
the amount of inventory on hand plus the amount of inventory on order
lead time
the amount of time that passes between the beginning and ending of a set of activities
Dow Jones Industrial Average (the Dow)
the average cost of 30 selected industrial stocks, used to give an indication of the direction (up or down) of the stock market over time
Component parts inventory
the basic parts used in manufacturing that are fabricated from raw materials
service level
the complement of the probability of a stockout.
Primary Storage
the computer's main memory, which consists of the Random Access Memory (RAM), and Read Only Memory (ROM), that is directly accessible to the CPU
Random Access Memory (RAM)
the computer's primary working memory in which program instructions and data are stored so that they can be accessed directly by the CPU
Chart (Primary Storage)
the computers main memory, which consists of the RAM, the cache memory, the ROM that is directly accessible to the CPU
Stockout cost
the cost incurred when a company runs out of a product, including transaction costs to replace inventory and the loss of customers' goodwill
Holding cost
the cost of keeping inventory until it is used or sold, including storage, insurance, taxes, obsolescence, and opportunity costs
Ordering cost
the costs associated with ordering inventory, including the cost of data entry, phone calls, obtaining bids, correcting mistakes, and determining when and how much inventory to order
Setup cost
the costs of downtime and lost efficiency that occur when a machine is changed or adjusted to produce a different kind of inventory
growth need strength
the degree to which individuals want personal and psychological development
Manufacturing flexability
the degree to which manufacturing operations can easily and quickly change the number, kind, and characteristics of products they produce
Need for Affliation
the desire for interpersonal relationships
initial public offering (IPO)
the first public offering of a corporation's stock
reorder point
the inventory level at which action is taken to replenish the stocked item.
common stock
the most basic form of ownership in a firm; it confers voting rights and the right to share in the firm's profits through dividends, if approved by the firm's board of directors
Need for Power
the need to influence the behaviors of others
unsupervised data mining
the process when the user simply tells the data mining software to uncover whatever patterns and relationships it can find in a data set
teleworking
the same as telecommuting but working anywhere. ex: client office, store..etc
TCP
transmission control protocol- responsible for verifying the correct delivery data from client to server
QR codes have higher storage capacity than traditional bar codes
true
empathetic style
tuning into the speaker's emotion
Nonroutine messages
typically are ambiguous, concern novel events, and involve great potential for misunderstanding
Unstructured
typically one-time decisions does not rely on standard operating procedure decision maker's intuition plays the most important role infor technology offers little support for these decisions
domain names
unique identifiers of computer or network addresses on the internet clemson.edu
grapevine
unofficial communication system of an informal organization
Magnetic Disk
used for random-access processing. Data can be accessed in any order regardless of its order on the surface
Personality clashes
when individual differences can't be resolved.
Ambiguous jurisdictions in groups
when job boundaries are unclear.
Time pressure
when people believe there aren't enough hours to do the work.
Communication failures
when people misperceive and misunderstand.
Inconsistent goals or reward systems within the group
when people pursue different objectives.
cooperating
when their efforts are systematically integrated to achieve a collective objective
Status differences in the group
when there are inconsistencies in power and influence.
data clusters
when three or more database elements occur together (cluster) in a significant way
electronic data interchange (EDI)
when two companies convert their purchase and ordering information to a standardized format to enable the direct electronic transmission of that information from one company's computer system to the other company's computer system
Competition for scarce resources
when two parties need the same things.
motivators
factors that make a job more motivating such as additional job responsibilities, opportunities for personal growth and recognition, and feelings of achievement
raw data
facts and figures
fiber optics is using light signal and thus it is a radiated medium
false- transmits lights signals through cables and thus belong to the conducted media category
IEEE 802.11
family for wireless network
IEEE 802.1
family of standards for network
toyota production system
focus on continuous improvement, respect for people, and standard work practices.
The degree to which the job assignments are
formalized and procedurized is task structure contingency dimension according to Fiedler.
Backbone of the internet
foundation is linked with fiber optic cables that can support very high bandwidth several private companies operate their own internet backbones
written letters and memos
fourth in the hierarchy because it can be personally focused but it conveys only written cues and is slower to provide feedback
mixed
generating revenue from more than one source
program tarding
giving instructions to computers to automatically sell if the price of a stock dips to a certain point to avoid potential losses
job enlargement
giving people additional tasks at the same time to alleviate boredom
authorization
granting authenticated users approved access to data, software, and systems
attenuation
loss of power in a signal as it travels from the sending device
MIRO
maintenance, repair, and operating materials.
authentication
making sure potential users are who they claim to be
Operations management
managing the daily production of goods and services
Job shops
manufacturing operations that handle custom orders or small batch jobs
Line-flow production
manufacturing processes that are preestablished, occur in a serial or linear manner, and are dedicated to making one type of product
Primary industry sources
new data containing first-hand information or original data on a topic; proprietary; customized
personal agents
perform specific tasks for a user such as remembering information for filling out Web forms or completing e-mail addresses after the fist few characters are typed
telecommuting
perform work that is usually done in an office away from the office
reinforcers
positive consequences that motivate behavior
Exception Reporting
process of automatically reporting any situation which is unusual or requires management action
lot sizing decision
process of, or techniques used in, determining lot size.
informediary
sites collect information on consumers and businesses and then sell this information to other companies for marketing purpose
Cache Memory
small unit or ultra fast memory that is used to store recently accessed or frequently accessed data so that CPU does not have to retrieve this data from slower memory circuits (RAM)
Connect emotionally
Learn to understand others emotions and needs and adjust your approach to match the audiences ability to receive your message. This is in reference to which key point for practicing persuasion?
Qualified Dividends - Corporation Treatment
Treated as ordinary dividend income, subject to DRD
Project Structure
an organizational structure in which employees continuously work on projects
Team Structure
an organizational structure in which the entire organization is made up of work teams
Multifactor productivity
an overall measure of performance that indicates how much labor, capital, materials, and energy it takes to produce an output
noise
any disturbance that interfere with the transmission of the message e
positive reinforcement
applying consequences that increase the likelihood that behavior that led to it.
Advice teams
are created to broaden the information base for managerial decisions.
External Audits
are financial appraisals conducted by experts who are not employees of the organization
Norms
are general guidelines or rules of behavior that most group or team members follow.
preventing group think
- allow criticism -allow other perspectives
Inter-Organizational Systems (IOS)
-To facilitate information exchange among business partners -Electronic Funds Transfer (EFT) -Electronic Data Interchange (EDI)
Benefits and costs of DSS
-increase in number of alternatives examined -fast response to unexpected situations -ability to make one-of-a-kind decisions -new insights and learning -improved communication -improved control over operations -cost savings from ability to make better decisions and analyze several scenarios in a short period -better decisions -more effective teamwork -time savings -better use of data resources
large team DISADV
-less interaction -lower morale -social loafing
Level 5: Level 5 Executive
Builds enduring greatness through a paradoxical blend of personal humility and professional will
Task-oriented Leaders
Considered to perform better in either highly favorable or highly unfavorable situations
Fiduciary
Defined by the CFP board as "one who acts in utmost good faith, in a manner he or she reasonably believes to be in the best interest of the client."
independent demand
Demand that cannot be directly derived from the demand for other products.
Horizontal
Intradepartmental problem solving flow which way in the formal communication channels?
Level 1: Highly Capable Individual
Makes productive contributions through talent, knowledge, skills, and good work habits
Authentication
Making sure potential users are who they claim to be.
purpose driven
Managers communicate __________ strategic conversations via multiple channels
Why is discovery important to businesses?
Most organizations don't know what they don't know. Others don't even know what they'd like to know. Business Intelligence implies a sort of soul searching that is simply impossible without information systems.
GIS and Organizational Structure (4 Structures)
Multinational, Global, International, Transnational
Calculating E & P - Installment method
No installment method, increase E & P by deferred gain in year of sale, reduce E & P by gain in subsequent years
Passive Follower
One who exhibits neither critical independent thinking or active participation
Downwards
Performance feedback flow which way in the formal communication channels?
Upwards
Performance reports flow which way in the formal communication channels?
Transfer Price
Price charged by one unit for a good or service provided to another unit within the organization
Magnetic Tape
Resembles a Cassette Tape and stores data sequentially
Central Processing Unit (CPU)
The 'heart' of a computer, divided into two components: the arithmetic logic unit (ALU) and the control unit
Can a company have its own internet backbone?
Yes
Questions
_______ stimulate the mind and give people a chance to make a difference
Under the CFP Board's Rules of Conduct, which of the following are a category of rules within the CFP Boards Rules of Conduct? a. Obligations to prospective clients and client b. Obligation to employers c. obligations to the profession d. all the above e. none of the above
d. All the above Obligations to prospective clients and client, Obligation to employers, Obligations to the profession
A leadership style: A leader who tends to involve employees in participation decision making
delegates authority encourages participation in deciding work methods uses feedback for coaching employees
Emerging practice
development and provision of a new type of occupational therapy service either in a traditional service context or in an environment where services have not traditionally been available or well established
Strategic Conversations
dialogue across boundaries and hierarchical levels about the team or organizations vision, critical strategic themes, and the values that help achieve important goals.
defensive communication
either aggressive, attacking, angry communication or passive, with drawing communication
hypertext
embedded references in hypermedia documents links users can click to follow a particular thread
expectancy
employees' perception of the likelihood that their efforts will enable them to attain their performance goals
Chart (Communication Devices)
equipment used to send information and receive it from one location to another (wireless modem)
over-the-counter (OTC) market
exchange that provides a means to trade stocks not listed on the national exchanges
What are two positive aspects of BI implementations? Why?
i. It's rich ¬ very few aspects of our lives take place "offline" which means there is a rich digital trail following behind all of your customers and competitors, actual and potential. This wealth of data gives businesses greater access to customer behavior than businesses in previous eras could have imagined. Proper use of these resources could create a competitive advantage among market rivals, or greater levels of customer service. Either way, it's a win for the organization. ii. It's powerful ¬ Data analytics isn't magic but it's pretty close. With enough relevant data points models can be created that predict almost any aggregate human action. As margins narrow, intelligence will be the most important resource to most organizations.
Small business
independently owned and operated, organized for profit, and not dominant in its field the intent of the owner is to be her/his own boss and secure a place in the local market.
Nonmonetary Budget
is simply a budget expressed in non financial terms,such as units of output, hours of direct labor, machine hours.
Read Only Memory (ROM)
is the portion of a computer's primary storage that does not lose its contents when it switches off power (nonvolatile); contains essential system programs that neither the user nor the computer can erase
Semistructured
not as defined by standard operating procedures structured aspect that benefits from info retrieval, analytical models, and info systems technology
Word Length
number of bits that can be processed by the CPU at one time (bits and bytes)
crowdsourcing
obtaining services, ideas, or content by soliciting contributions from a large group of people, especially the online community
Open Innovation
opening up the search for new ideas beyond the organizations boundaries & allowing innovations to easily transfer inward & outward
what is data communication?
is the electronic transfer of data from one location to another
3 levels of logic
presentation application data management
server
remote computer on the network that provides information or services in a response to client requests
data communication
the electronic transfer of data from one location to another
Geographic Information Systems
-Captures, stores, processes, and displays geographic information -uses spatial and nonspatial data -uses three geographic objects: Points, lines, areas
3 Components of DSS
-DSS engine manages and coordinates these major components 1. Database 2. Model base: mathematical and statistical models to analyze info 3. User interface: how users access the DSS
Fuzzy Logic
-Grey Area -allows a smooth, gradual transition btw human and computer vocabs -deals with variations in linguistic terms by using a degree of membership -designed to help computers simulate vagueness and uncertainty in common situations -works based on the degree of membership in a set
Decision Support Systems (DSS)
-Interactive info system -Consist of hardware, software, data, and models -Designed to assist decision makers in an organization
Prezi is ______, meaning you can present from your browser, desktop, and Apple devices.
Cloud based
Implementation
Phase 4: solution is transferred from paper to action, team configures system and procures components Task: acquire new equipment, hire new employees, train employees, systems physical layout, coding, testing, security measures, disaster recovery plan
Prototyping
Small scale version of the system is developed: large enough to illustrate benefits, allows user feedback Used for: gathering requirements, determine system requirements, technical feasibility, selling system to users and management
Request for Proposal
Written document with detailed specifications: request bids for equipment, supplies, vendors, etc. Prepared during the implementation phase -Advantage: all vendors get the same info and requirements -Disadvantage: time involved in writing and evaluating proposals
narrowband
voice-grade transmission channel capable of transmitting a max of 56,000 bps
Feasibility
Measure of how beneficial or practical an information system will be Five major dimensions: 1. Economic 2. Technical 3. Operational 4. Scheduling 5. Legal
Structured
well-defined operating tasks programmable tasks can be automated
Natural Language Processing
-Interfacing: accepting human language as input, carrying out the corresponding command, generating the necessary output -Knowledge acquisition: using the computer to read large amount of text and understand the info well enough to: summarize points and store info so the system can respond to inquiries abt the content
Roles in DSS
-Managerial designer: defines management issues in designing and using a DSS -Technical designer: focuses on how the DSS is implemented -Model builder: liaison btw users and designers
Group Support Systems
-computer and communication technologies to formulate, process, and implement a decision making task -helps overcome limitations of group interactions -reduce communication barriers -introduce order and efficiency into situations that are unsystematic and inefficient
Artificial Intelligence (AI)
-consists of related technologies that try to simulate human thought and behavior -included thinking, speaking, feeling, and reasoning -knowledge engineers try to discover "rules of thumb": enable computers to perform tasks usually handled by humans -capabilities of these have improved an attempt to close the gap btw artificial intelligence and human intelligence
Factors that can lead to a failed EIS
-culture isn't ready -resistance to the project -viewed as unimportant -loss of interest -objectives unclear -doesn't meet objectives -unjustified costs -too much time for development -system too complicated
Advantages of Expert Systems
-never become distracted, forgetful or tired -duplicate and preserve the expertise of scarce experts -preserve the expertise of employees who are retiring or leaving -create consistency in decision making -improve the decision-making skills of nonexperts
Expert systems
-one of the most successful AI-related technologies -mimic human expertise in a field to solve a problem in a well-defined area -consist of programs that mimic human thought behavior: in specific area that human experts have solved successfully -work with heuristic data
Robotics
-one of the most successful applications of AI -perform well at simple, repetitive tasks -currently used mainly on assembly lines in Japan and the US -some robots have limited vision
Case-Based Reasoning
-problem-solving technique -matches a new case with a previously solved case and its solution stored in a database -if no exact match: system can query the user for clarification or more info -if no match is found: human expert must solve problem
Requirements
Phase 2: analysts define the problem and generate alternatives for solving it First step: gathering requirements Team determines: what the new system should do, what data is needed for this process to happen
Design
Phase 3: analysts choose the most realistic solution with highest payoff Output of this phase: document with exact specifications for implementing system
Maintenance
Phase 5: Info system is operating, enhancements and mods have been developed and tested, hardware and software components have been added or replaced, team collects performance data and info to see if its meeting objectives
What is Adobe InDesign? Adobe InDesign is a ________________application produced by Adobe Systems
publishing desktop
Bots in e-commerce
software capable of reasoning and following rule-based processes web marketing: collect info abt customers preferences virtual catalogs: display product descriptions based on customers previous preferences
the client
software on the local computer and communicates with the remote server to request info or services
