Management Exam 2
what is a dynamic network
(modular or virtual corporation) its composed of temporary arrangements that can be assembled and reassembled to meet a changing competitive environment
what are the 4 key drivers of a firm's long term success which are outlined by a strategy map?
1. The skills of its people and their ability to grow and learn 2. the effectiveness of its internal processes 3. the firm's ability to deliver value to customers 4. the firm's ability to grow its financial assets
what are the 3 steps to managing valuable resources
1. accumulate the right resources 2. combine the resources to give the organization unique capabilities 3. managers must leverage or exploit their resources
plans should outline what 3 things
1. alternative actions to attain goals 2. resource needed to reach the goals 3. potential obstacles that may develop
what are the 6 ways in which firms ensure they are true learning organizations?
1. by engaging in disciplined and detailed thinking 2. constantly searching for new knowledge 3. valuing and rewarding people who benefit the organization 4. reviewing successes and failures carefully to find lessons and develop deeper understanding 5. benchmarking 6. sharing ideas throughout the organization
automotive firms operate in 1. (simple/intermediate/complex) environments and require a 2. (High/middle/low) degree of differentiation
1. complex 2. high
what are two ways in which managers can reduce the need for information
1. creating slack resources 2. creating self contained tasks
what are the 4 stages of benchmarking
1. decide what to measure and what metrics to use 2. collect and validate data 3. assess initial findings to see if extra data is needed 4. analyze results and make recommendations to stakeholders
what are the 5 steps in effective delegation
1. define the goal succinctly 2. select the person for the task 3. ask for the subordinate's views about suggested approaches 4. give the subordinate the resources to perform the assignment 5. review progress at appropriate intervals
what are the 4 steps to strategy implementation
1. define the strategic tasks 2. assess organization's capabilities 3. develop an implementing agenda 4. implement
what are the 3 roles a broker serves to aid network integration and coordination
1. designer role 2. process engineering role 3. nurturing role
what are the ways in which a company can integrate green practices with strategy
1. develop and market green products 2. emphasize green attributes in their marketing 3. acquire other companies with sustainability in mind
what are the 6 forms of horizontal relationships
1. direct contact (mutual adjustment) 2. liaison roles 3. task forces 4. permanent interdepartmental decision-making groups 5. product, program, or project managers 6. matrix organizations
What are the 6 primary advantages of functional departmentalization
1. economies of scale 2. people have greater opportunity 3. better maintained performance standards 4. technical specialists are free of admin work 5. more effective environmental monitoring 6. simple communication and decision making
what are the key production and organizational concepts that JIT represents
1. elimination of waste 2. perfect quality 3. reduced cycle times 4. employee involvement 5. value added manufacturing 6. discovery of problems and prevention of reoccurance
what are the 5 steps/components of the strategic management process
1. establishing mission, values, and goals 2.analyzing internal and external SWOT 3. SWOT analysis and strategy formulation 4. strategy implementation 5. strategic control
what are the 7 danger signs of unethical behavior at your organization
1. excessive emphasis on short term revenues 2. no written code of ethics 3. desire for quick fix solutions 4. unwillingness to take an ethical stand that imposes financial costs 5. consideration of ethics solely as a legal issue or PR tool 6. lack of clear procedures for handling ethical problems 7. responding to shareholder demands at the expense of other constituencies
what are 5 major components of an internal resource analysis
1. financial analysis 2. marketing audit 3. operations analysis 4. other resource analyses 5. HR assessment
what are the 4 support activities of a value chain?
1. firm infrastructure 2. HR management 3. tech development 4. procurement
what are three major workplace strategies which can help attract and retain millenial employees?
1. flexible work arrangements 2. involvement in decision making 3. different types of recognition
what are the 4 main advantages of product departmentalization
1. focus on product lines 2. product managers have autonomy and control 3. product managers are strategic 4. product managers receive broader training
what are the 3 basic approaches to departmentalization
1. functional 2. divisional 3. matrix
in what two scenarios does a company typically pursue a concentration strategy
1. industry growth potential is high 2. the company has a narrow range of compatencies
fast food companies operate in 1. (simple/intermediate/complex) environments and require a 2. (High/middle/low) degree of differentiation
1. intermediate 2. middle
what are the two ways in which a firm can increase information processing capabilities?
1. investing in information systems 2. creating horizontal relationships between units to foster coordination
what are the two reasons why the optimal span of control maximizes effectiveness
1. it is narrow enough to permit managers to keep control over direct reports 2. not so narrow that it leads to over control and an excessive number of managers overseeing a small number of people
under which 3 circumstances do resources provide a competitive advantage?
1. its instrumental in creating customer value 2. if they are rare and difficult to imitate 3. if they are not equally available to all competitors
what 2 basic ethical ideals underpin the caux principles
1. kyosei 2. human dignity
what are the 2 basic contrasting views that describe principles that guide managerial responsibility
1. managers act as agents for shareholders and, as such, are obligated to maximize the present value of the firm (the wealth of nations by adam smith) 2. managers should be motivated by principled moral reasoning
making ethical decisions takes moral ________ moral _______ and moral ________ (describe each)
1. moral awareness (realizing the issue has ethical implications) 2. moral judgement (knowing what actions are morally defensible) 3. moral character (the strength and persistence to act in accordance with your ethics despite the challenges)
a thorough situational analysis includes what 3 things?
1. past events 2. current conditions 3. future trends
what are the 4 responsibilities in the pyramid of global corporate social responsibility and performance
1. philanthropic responsibility 2. ethical responsibility 3. legal responsibility 4. economic responsibility
what are the 3 stages of kohlberg's model described
1. preconventional (make decisions based on reward and punishment and immediate self interest) 2. conventional (conform to the expectations of ethical behavior held by groups or institutions) 3. principled (see beyond authority, laws, and norms and follow self chosen ethical principles)
to cope with high uncertainty and heavy information demands, managers can use which two strategies?
1. reducing the need for information 2. increasing information processing capability
what are the 5 primary staff departments?
1. research 2. legal 3. accounting 4. PR 5. HR
what are the 5 primary reasons companies decide to "go green"
1. satisfy customer demand 2. react to competitors actions 3. meet requests from customers or suppliers 4. to comply with legal requirements 5. to create a competitive advantage
what are the 3 major sets of duties a board of directors performs?
1. selecting, assessing, rewarding, and perhaps replacing the CEO 2. determining the firm's strategic direction and reviewing financial performance 3. ensuring ethical, socially responsible, and legal conduct
cement companies operate in 1. (simple/intermediate/complex) environments and require a 2. (High/middle/low) degree of differentiation
1. simple 2. low
What are the 6 steps in the formal planning process
1. situational analysis 2. alternative goals and plans 3. goal and plan evaluation 4. goal and plan selection 5. implementation 6. monitor and control
what 2 categories do resources fall into
1. tangible assets (real estate, production facilities, raw materials) 2. intangible assets (company reputation, culture, technical knowledge, patents, etc.)
who are the 2 parties which the CEO is personally accountable to for the organization's performance
1. the board of directors 2. the owners
What are the 3 components of a strategic triangle
1. the company itself 2. the competition 3. the customer
what are the 2 fundamental sources of risk in modern society
1. the excessive production of hazards 2. ecologically unsustainable consumption of natural resources
Courage plays a role in what 3 things in regards to ethics? 1. the moral awareness _____ 2. the moral judgement ________ 3. the moral character _________
1. the moral awareness involved in identifying an act as unethical 2. the moral judgement to consider the repercussions fully 3. the moral character to take the ethical action
what 2 things does LCA quantify
1. the total use of resources 2. the releases into the air, water, and land
why does a company typically pursue vertical integration
1. to reduce costs associated with suppliers/distributors 2. the reduce uncertainties associated with unpredictable business relationships
what are the 5 primary ethical systems
1. universalism 2. egoism 3. utilitarianism 4. relativism 5. virtue ethics
Effective strategies answer which 5 questions?
1. where will we be active 2. how will we get there 3. how will we win the market 4. how fast will we move and in what sequence will we make changes 5. how will we obtain financial returns
about what fraction of employees in large companies have observed misconduct in the workplace
1/2
between 2008 to 2012, the average span of control at large companies increased from 7 to _______.
12
Marriott is pursuing a goal to reduce water consumption by _______% per occupied hotel room
20%
By 2025, approximately how many people may be living in areas of the world with scarce water resources
3.5 billion
At six sigma, a product is defect free what % of the time?
99.999996 (fewer than 3.4 mistakes per one million)
what is a SWOT analysis
A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy.
what is ISO 9001 (8 parts)
A list of good quality management pracitice requirements. 1. customer focus 2. leadership 3. involvment of people 4. process approach 5. system approach to management 6. continual improvement 7. factual approach to decision making 8. mutually beneficial supplier relationships
Name some of the current ethical issues in business
CEO pay, climate, globalization, healthcare, obesity, online privacy, social media, and wages
what is diseconomies of scale
Difficulty of efficiently controlling a firm's operations when it becomes too big
T/F: Social responsible firms are always more successful financially than socially irresponsible firms
False
what does ISO stand for
International Organization for Standardization
what is a vertical integration strategy
It involves the acquisition or development of new businesses that produce parts or components of the organization's product.
in the BCG matrix, what is a cash cow (give an example)
Low growth, strong competitive position businesses ex. turbines and jet engines
what are the 6 primary activities of a value chain
R&D, inbound logistics, operations, outbound logistics, marketing and sales, and service
What are the 5 ways in which I's can become We's?
Relationship Metrics Differences Control Management
CSR actions often consider the ____________.
Triple Bottom line
T/F: companies in dynamic and complex environments are more likely to develop a high degree of differentiation than one in a simple, stable environment
True
T/F: functional departmentalization is common in both large and small companies
True
T/F: in logistics, depending on the product, duplication and inefficiency in distribution can cost far more than making the product itself
True
T/F: managers at all levels may be involved in developing and contributing to the strategic plan
True
T/F: profitability need not suffer and may even be positively affected by ecocentric philosophies and practices
True
T/F: sustainability is fully compatible with the natural ecosystems that generate and preserve life
True
T/F: the sarbanes oxley act required public companies periodically to disclose whether they have adopted a code of ethics for senior financial leaders
True
T/F: today, even fierce competitors are working together at unprecedented levels to achieve their strategic goals
True
True or False: a core competence typically refers to a set of skills or expertise in some activity rather than physical or financial assets
True
True or false: Most of use think we are good decision makers, ethical and unbiased. However, most people have unconscious biases that favor themselves and their own group
True
True or false: often, vision statements are not strictly financial because financial targets alone may not motivate all organization members
True
True or false: when corporations behave badly, its often not the top executives who suffer most
True
what kind of approach does a fully sustainable production model apply?
a circular borrow-use-return approach
what is a network organization
a collection of independent mostly single function firms that collaborate on a good or service
what is a differentiation strategy
a company attempts to be unique in its industry or market segment along some dimensions (other than costs) that customers value
what is concurrent engineering
a design approach in which all relevant functions cooperate jointly and continually in a maximum effort aimed at producing high quality products that meet customers needs
what is a mechanistic organization
a form of organization that seeks to maximize internal efficiency
what does deming's 14 points of quality emphasize
a holistic approach to management that demands intimate understanding of the process (the delicate interaction of materials, machines, and people that determines productivity, quality, and competitive advantage
what is a matrix organization
a hybrid organization composed of dual reporting relationships in which some employees have two superiors (a functional and a divisional manager)
what is another name for small batch operations along with an example
a job shop exp. a small custom metalworking company
what is customer relationship management
a multifaceted process focusing on creating two-way exchanges with customers to foster intimate knowledge of their needs, wants, and buying patterns
what is a strategy?
a pattern of actions or resource allocations designed to achieve the goals of the organization
Rawls maintained that only what kind of person can make a truly ethical decision
a person ignorant of his own identity
what is a broker
a person who assembles and coordinates participants in a network
what is specialization
a process in which different individuals and units perform different tasks
what is a life cycle analysis
a process of analyzing all inputs and outputs through the entire "cradle-to-grave" life of a product, to determine total environmental impact
what is a situational analysis
a process planners use to gather, interpret, and summarize all information relevant to the planning issue under consideration
what is a continuous process
a process that is highly automated and has a continuous production flow
what Is an ethical issue
a situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrong
what is a concentration strategy
a strategy employed for an organization that operates a single business and competes in a single industry
what is a conglomerate diversification strategy
a strategy of expansion into unrelated businesses from their current industry
what is a low cost strategy
a strategy which attempts to be efficient and offer standard, no frills products (walmart)
what is the unity of command principle
a structure in which each worker reports to one boss, who in turn reports to one boss
what is rightsizing
a successful effort to achieve an appropriate size at which the company performs most effectively
what is a compliance based ethics program
a system designed by corporate counsel to prevent, detect, and punish legal violations
what is a strategic control system
a system that helps managers evaluate the organization's progress with its strategy and when discrepancies exist, identify corrective actions
what is just in time
a system that manufactures and subassemblies components in very small lots and delivers them to the next stage in the process just as they are needed
What is a goal
a target or end that management desires to reach
what is a strategy map
a tool for communicating strategic goals and helping employees understand the parts they will play in helping to achieve them
what is a core capability
a unique skill and/or knowledge an organization possesses that gives it an edge over competitors
what are plans
actions or means the managers intend to use to achieve organizational goals
what are the philanthropic responsibilities of a business
additional behaviors and activities that society finds desirable and that the values of the business support
name the primary industrial pollution risks
air pollution, smog, global warming, ozone depletion, hazardous products, acid rain
What is the Sarbanes-Oxley Act of 2002?
an act passed into law by congress to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence
what is a transcendant education
an education with 5 higher goals that balance self interest with responsibility to others
what is lean manufacturing
an operation that strives for the highest productivity and total quality, cost effectively, by eliminating unnecessary steps in the production process and continually striving for improvement
what is a centralized organization
an organization in which high level executives make most decisions and pass them down to lower levels for implementation
what is a decentralized organization
an organization in which lower level managers make important decisions
what is a learning organization
an organization skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights
what is an ambidextrous organization
an organization that is simultaneously good at exploitation and exploration
what is a mission
an organization's basic purpose and scope of operations
what is an organic structure
an organizational form that emphasizes flexibility
beyond just changing an organization's structure, in order for it to become flexible, managers must......
attend to the norms, values, and attitudes that shape how people within the organization behave
what are the 2 reasons behind why some of the world's worst environmental problems are in china
because of its rapid industrialization and its huge population/size
why are online companies able to move faster than brick and mortar companies
because they have the ability to scale exponentially
what does egoism define acceptable behavior as
behavior which maximizes benefits for the individual
large firms are best for ______ and _______.
buying and selling
how are members of a network held together
by contracts that stipulate expected results
what are ordinary capabilities
capabilities pertaining to basic administrative and operational functions
what must the product, functional, or divisional manager must learn to do in the matrix form?
collaborate and manage conflicts constructively
what should a company do first: -commit to excellence and leadership in capabilities and strengthen them OR -commit to winning market share for specific products
commit to excellence and leadership in capabilities and strengthen them
what is internal benchmarking
comparing different internal units against one another to disseminate the company's best practices throughout the organization
A competitor analysis analyzes what 3 things
competitor profile, competitor strategies/goals/strengths/weaknesses, and competitor advantages
what is total quality management
comprehensive approach dedicated to continuous quality improvement, training, and customer satisfaction
describe the japanese concept "kaizen"
continuous improvement
what is stewardship
contributing to the long term welfare of others
the institutions that create environmental and technological risks (gov. and corporations) are responsible for ______ and _______ the risks
controlling and managing
Successful organizations use their strengths to do what better than competitors?
create value by meeting customer requirements better than the competition
repackaging creates _______ and costs ________
creates waste and costs time
Delegating responsibility and authority ___________'s decision making
decentralizes
what is perhaps the most fundamental process of management
delegation
what is a functional organization
departmentalization around specialized groups according to business function and required skills (marketing, production, HR, etc.)
what is a divisional organization
departmentalization that groups units around products, customers or geographic regions
what are staff departments
departments that provide specialized expertise to support line departments
What are the 5 aspects of a network organization
designers, distributors, producers, suppliers, and broker/dealers
what do ethics committees do
develop policies, evaluate actions, and investigate violations
the more differentiated the organization is, the more (easy or difficult) integration is?
difficult
what are the primary disadvantages of the product structure
difficulty coordinating across product lines and lack of in depth functional expertise
some maintain that which kind of sustainability is now the key driver of innovation?
ecological
what is sustainable growth
economic growth and development that meets present needs without harming the needs of future generations
what is the triple bottom line
economic, social, and environmental performance
Strategic managers usually establish goals that reflect both ________ and ___________
effectiveness and efficiency
what are the 5 higher goals of a transcendant education
empathy, generativity, mutuality, civil aspiration, and intolerance of inhumanity
Small firms are the best for unleashing ____ and ______
energy and speed
Effective delegation leverages the manager's _________ and _______ as well as those of his or her subordinates
energy and talent
what is coordination by standardization
establishing common routines and procedures that apply uniformly to everyone
what are the caux principles
ethical principles est. by international executives in Caux Switzerland with collaboration of business leaders from Japan, Europe, and the US
what are integrity based ethics programs
ethics programs designed to instill in people a personal responsibility for ethical behavior
alliances enable companies to move ______ and more ________
faster and more efficiently
describe empathy
feeling your decisions as potential victims might feel them, to gain wisdom
______ ________ authority is generally the primary means of running and organization
formal position
who are functional strategies typically developed by
functional managers (with the input and approval or executives responsible for business strategy)
Internal analysis gives strategic decision makers an inventory of the organizations _________, __________, _________, and ____________.
functions, skills, resources, and performance level
what do ethics communication systems do
give employees a means of reporting problems or getting guidance
who are stakeholders
groups and individuals who affect and are affected by the achievement of the organization's mission, goals, and strategies
in the BCG matrix, what is a star (give an example)
high growth, strong competitive position businesses ex. energy, healthcare, transportation
in the BCG matrix, what is a question mark (give an example)
high growth, weak competitive position businesses ex. wind farms
what are dynamic capabilities
higher-level strategic capabilities (compared to ordinary ones) that aid rapid adaptation
what must the two boss managers or employees in the matrix learn to do?
how to be responsible for two superiors
what is marketing and sales
identifying the customer requirements and getting customers to purchase the product
Even the best plans are useless if they are not ____________ properly
implemented
Dynamic networks are suitable when much of the work can be done ____________ by _________.
independently by experts
can ethics codes be general or must they be tailored to each company's philosophy?
individual and tailored
An industry and market analysis analyzes what 3 things
industry profile, industry growth, and industry forces
what does research and development focus on
innovation and new products
what are resources
inputs to production that can be accumulated over time to enhance the performance of a firm
the board's membership usually includes some of the company's top executives, called ______ directors
inside
the more highly differentiated your firm, the greater need for _______ among the different units
integration
what is a common example of a slack resource
inventory
what do ethics officers or ombudpersons do
investigate allegations and provide education
Managers can treat corporate social responsibility as they would treat all _________ decisions
investment
what is relativism
it bases ethical behavior on the opinions and behaviors of other relevant people
what is a corporate strategy
it identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources among those businesses
what is coordination by mutual adjustment
it involves discussions to figure out jointly how to approach problems and devise solutions that are agreeable to everyone
what is strategic management
it involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies.
what are the 2 main shortcomings of the functional form
it is highly differentiated and creates barriers to coordination across functions
what is inbound logistics
it receives and stores raw materials and distributes them to operations
what is utilitarianism
it seeks the greatest good for the greatest number of people
what is operations
it transforms raw materials into final product
what is tactical planning
it translates broad strategic goals and plans that are relevant to a particular unit in the organization (I.e. marketing or HR)
is planning static or does it work repetitively in a cycle?
it works repetitively in a cycle
what is six sigma quality
its a set of statistical tools to identify and eliminate virtually all causes of defects, standardizing the process to reach the lowest predictable level of any cause of customer dissatisfaction
What aspect of the matrix structure does the network display
its balance and felxibility
What aspect of the product structure does the network display
its market responsivness
What aspect of the functional structure does the network display
its technical specialization
differentiation is created through ______ and ________.
job specialization and division of labor
an HR analysis analyzes what?
labor issues
what 3 things are unethical actions influenced by
laws, individual virtue, and work environment of a company
what is six sigma mixed with lean manufacturing called
lean six sigma
describe generativity
learning how to give as well as take, to others in the present as well as to future generations
a political and regulatory analysis analyzes which 2 things
legislation/regulatory activities and political activity
what does kyosei mean
living and working together for the common good, allowing cooperation and mutual prosperity
in the BCG matrix, what is a dog (give an example)
low growth, weak competitive position businesses ex. NBC universal or GE capital
a macroeconomic analysis analyzes what?
macroeconomic conditions
what are strategic goals
major targets or end results relating to the long term survival, value, and growth of the organization
what is strategic planning
making decisions about the organization's long-term goals and strategies
What is the managerial level, level of detail, and time horizon of operational planning?
managerial level: low level of detail: high time horizon: short (less than 1 year)
What is the managerial level, level of detail, and time horizon of tactical planning?
managerial level: middle level of detail: medium time horizon: medium (1-2 years)
What is the managerial level, level of detail, and time horizon of strategic planning?
managerial level: top level of detail: low time horizon: Long (3-7 years)
what are flexible factories
manufacturing plants that serve customers needing fast turnaround on relatively small orders (produce one product at a time)
differentiation is high when an organization has many _______ and many kinds of ________
many subunits and many kinds of specialists
a firm that is large offers what kind of power?
market power
what is another name for large batch operations along with an example
mass production exp. GM, ford, chrysler, chipotle
what are the ethical responsibilities of a business
meeting other social expectations, not written as law
An important assumption underlying both standardization and formalization is that the rules and procedures should apply to __________ situations
most if not all
what is a concentric diversification strategy
moving into a new but related business
Staff units are typically more focused on what?
moving toward new roles providing strategic support and expert advice
what are scenarios
narratives that describe a particular set of future conditions
what is service
offering customer support after an item has been bought
what is an ethical leader
one who is both a moral person and a moral manager influencing others to behave ethically
In setting a strategy, managers try to match the organization's skills and resources to the ___________ in the external market
opportunities
what tends to be the org. structure in a small batch org.
organic
what are 6 conditions that support lean manufacturing
people are broadly trained, informal and horizontal communication, equipment is general purpose, work organized in teams that produce a similar group of products, long term and cooperative supplier relationships, product development is concurrent
what kinds of people may possess considerable informal authority?
people with particular expertise, experience, or personal qualities
the difference between an opportunity and a threat depends in part on how a company does what?
positions itself strategically
what must the top executive who leads the matrix must learn to balance?
power and emphasis between the product and functional requirements
what are some of the reasons for the resurgence of the matrix organization structure
pressures to consolidate costs and be faster to market and creating needs for better coordination across functions or even countries if the firm is global
what are universal values
principles so fundamental to human existence that they are important in all societies
in the product organization, all functions that contribute to a product are organized under one _________________
product manager
what 3 things does lean manufacturing emphasize?
quality, speed and flexibility
what is the key to managing today's matrix
realizing that it is a process
advocates of CSR argue that organizations have a wider range of ________________ that __________...
responsibilities that extend beyond the production of goods and services at a profit
when considering employment of a firm, what is a good first step to take when determining if the firm's purposes and values will be compatible to your own
reviewing the firm's statements of mission, vision, and goals
Goal achievement must be linked to the organization's __________ system
reward
what is a strategic alliance
s formal relationship created among independent organizations with the purpose of joint pursuit of mutual goals
what is exploration
seeking and creating new ways to meet future demands
What environment is the functional structure most appropriate in?
simple, stable environments
a social analysis analyzes which 2 things
social issues and social interest groups
describe intolerance of inhumanity
speaking out against unethical actions
CSR actions take into account who's expectations?
stakeholders
what are norms
standards of expected and acceptable behavior
what two processes does strategic management integrate into a single process
strategic planning and management
what is the difference between a strategic and operational budget
strategic: created and maintains long term effectiveness operational: tightly monitors and aims to achieve short term efficiencies
what is a functional strategy
strategies implemented by each functional area of the org. to support to overall business strategy
what is time based competition
strategies that reduce the total time needed to deliver the good or service
what are subunits
subdivisions of an organization
a technological analysis analyzes what?
technological factors
what is a large batch operation
technologies that produce goods and services in high volume
what are small batch operations
technologies that produce goods and services in low volume
what is whistleblowing
telling others, inside or outside the organization, of wrongdoing
what does universalism state
that people should uphold certain values, such as honesty, that society needs to function
who establishes the mission, vision, and major strategic goals of a company?
the CEO (with the input and approval of the board)
what industry did the matrix form originate in
the aerospace industry (TRW then NASA)
what is division of labor
the assignment of different tasks to different people or groups
what is delegation
the assignment of new or additional responsibilities to a subordinate
what is a hierarchy
the authority levels of the organizational pyramid
what is kohlberg's model of moral development
the classification of people based on their moral level of judgement
What two environments do opportunities and threats arise in
the competitive and macro-environment
Effective strategic management depends on accurate and thorough evaluation of what 2 environments
the competitive environment and the macroenvironment
what is the goal of ecocentric management
the creation of sustainable economic development and improvement of quality of life worldwide for all organizational stakeholders
describe the paradigm shift taking place in corporate environmental management
the deliberate incorporation of environmental values into competitive strategies and into the design and manufacturing of products
what is a business portfolio
the diversified businesses of an organization
the egoism principle is similar to which concept created by adam smith?
the invisible hand
what is a core capability
the knowledge, expertise, or skill that underlies a companies ability to be a leader in providing a range of goods or services
what is authority
the legitimate right to make decisions and tell other people what to do
Ideally, what level does decision making occur at
the level of the people who are most directly affected and have the most relevant knowledge about the work
what is a strategic vision
the long term direction and strategic intent of a comapny
What does tactical planning focus on
the major actions a unit must take to fulfill its part of the strategic plan
what is a business strategy
the major actions by which a business competes in a particular market or industry
what does business ethics comprise
the moral principles and standards that guide behavior in the world of business
what are logistics
the movement of the right goods in the right amount to the right place at the right time
what is span of control
the number of subordinates who report directly to an executive or supervisor
what is corporate social responsibility
the obligation toward society assumed by business
what is differentiation
the organization is composed of many units that work on different kinds of tasks using different skills and work methods
what are carbon footprints
the output of carbon dioxide and other greenhouse gases
what is virtue ethics
the perspective that what is moral comes from what a mature person with good moral character would deem right
what is downsizing
the planned elimination of jobs or positions
In the 1960's and 1970's, what 2 environments became more important to US corporations
the political and the social environment
what is formalization
the presence of rules and regulations governing how people in the organization interact
what is moral philosophy
the principles, rules, and values people use in deciding what is right or wrong
describe integration and coordination
the procedures that link the parts of the organization to achieve the organization's overall mission
what is operational planning
the process of identifying the specific procedures and processes required at lower levels of the organization
what is an ethical climate of an organization
the processes by which decisions are evaluated and made on the basis of right and wrong
what is mass customization
the production of varied, individually customized products at the low cost of standardized, mass produced products
What is an organization chart
the reporting structure and division of labor in an organization
what is corporate governance
the role of a corporation's executive staff and BOD in ensuring that the firm's activities meet the goals of the firm's stakeholders
Which two organozations imposed new, tighter corporate governance rules
the sarbanes oxley act as well as the SEC
what is a value chain
the sequence of activities that flow from raw materials to the delivery of a good or service, with additional value created at each step
what is accountability
the subordinate's manager has the right to expect the subordinate to perform the job and the right to take corrective action if the subordinate fails to do so.
what are ethics
the system of rules that govern our ordering of values
what is technology
the systematic application of scientific knowledge to a new product, process, or service
what are ethical decisions guided by?
the underlying values of the individual
what is computer integrated manufacturing
the use of computer aided design and computer aided manufacturing to sequence and optimize a number of production processes
what is human dignity
the value of each person as an end and not a means to the fulfillment of others' purposes
what is integration
the work of the differentiated units in a company are coordinated into an overall product
managers remain responsible and accountable for their own actions as well as the actions of ___________
their subordinates
what does ISO do
they set a wide variety of exacting standards for parts, materials, and products, as well as org. practices and processes
describe civil aspiration
thinking not just in terms of dont's(steal, kills, etc.), but also in terms of positive contributions
what are the two primary aims of ethics
to identify both the rules that should govern people's behavior and the goods that are worth seeking
why do companies typically pursue a conglomerate diversification strategy
to minimize risks due to market fluctuations within one industry
what are the legal responsibilities of a business
to obey local, state, federal, and relevant international laws
what are the economic responsibilities of business
to produce goods and services that society wants at a price that perpetuates the business and satisfies its obligations to investors
what is the goal of reengineering
to revolutionize key organizational systems and processes by seeing it from the customer's perspective of how they would potentially want the company to operate
why do companies typically pursue a concentric diversification strategy
to take advantage of their strengths in one business to take advantage of another
what is the goal of benchmarking
to understand the best practices of other firms thoroughly and undertake actions to achieve lower cost and better performance
T/F: almost any advantage is temporary because eventually, all competitors will strive to catch up
true
T/F: any job activity that links different work units performs and integrative function
true
T/F: it is quite common for someone to have more responsibility than authority
true
T/F: most environmental cleanup efforts focus on big cities rather than rural areas
true
T/F: network organizations reduce costs and risk
true
T/F: the owner and managers of a small business may need the expertise of a board of directors as much as or more than a large company does
true
T/F: today, most boards have more outside than inside directors
true
what are line departments
units that deal directly with the organization's primary goods and services
what environment is most appropriate for the product structure>
unstable ones where firms must be able to change rapidly and adapt
what is exploitation
using what the firm knows in order to efficiently and quickly perform as needed
When resources are _____ ______ _______ and ______ they comprise a company's core capabilities
valuable, rare, inimitable, and organized
what are outbound logistics
warehousing the product and handling its distribution
what are contingency plans
what if plans. They include actions that should be taken if initial plans do not work or if events demand a sudden change.
what is responsibility
when a person is supposed to carry out an assigned task
describe the concept of astroturfing
when bloggers are paid to write positive comments about a company
Traditionally, when have companies downsized?
when product demand falls and seems unlikely to rebound in the short run
What is departmentalization?
when tasks subdivide into smaller units or departments
When is JIT not the most efficient choice
when the costs of delivery exceed the costs of storage
When do executives pay most attention to their companies code of ethics?
when they feel that stakeholders try to influence them to do so, to promote a positive image
what is coordination by plan
where interdependent units are required to meet deadlines and objectives that contribute to a common goal
what is a high involvement organization
where top leaders ensure that there is consensus about the direction which the business is headed
many believe that a 21st century education must help students think about responsibilities beyond ________ and _________.
Self interest and profitability
