MGMT 300 Pt 1

five approaches to organization/departmentalization

- functional/vertical - divisional - matrix - team - virtual network

outsourcing

A decision by a corporation to turn over much of the responsibility for production to independent suppliers.

virtual networks

A style of organization that is essentially leaderless and facilitated by the Internet

What is the word-for-word definition of management?

Management is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources

This approach to management says that some managers believe that employees do not want to work, while others believe that employees are self-motivated, and they will work happily if given the opportunity to do so

Theory X/Theory Y

Management by Objectives (MBO)

a program that encompasses specific goals, participatively set, for an explicit time period, with feedback on goal progress

What components make up an organization?

a structured group and a shared goal

_____ is involved when your manager reviews your performance and evaluates your outcomes.

accountability

The unity of command principle was developed as a part of which theory?

administrative management

matrix structure

an organization combines functional and divisional chains of command in a grid so that there are two command structures-vertical and horizontal

operations management

attempts to make production of goods or services more efficient, using forecasting, inventory modeling, linear and nonlinear programming, quelling theory, scheduling, simulation, and break even analysis

This approach to management gathers information from disciplines such as economics, psychology, sociology, and anthropology to understand human behavior and the best ways to motivate people

behavioral sciences approach

coalitions manaagement

building an alliance of people who support managers and influence efforts toward achieving goals

Analytical style of decision making

careful decision makers who like lots of information and alternative choices

The trend recently has been for organizations to adopt more _____ structures, in which employees lower in the hierarchy have more decision-making authority

decentralized

conceptual style of decision making

decision makers who rely on intuition and have a long-term perspective

divisional structure (M-form/multidivisional form or decentralized form)

divide organizations so that people from many different functions are grouped together to focus on a single product/service

Which structure is a duplication of effort and cross-group coordination problems?

divisional

Suppose that you are the CEO of a new (virtual reality) VR gaming design company. Your company has plenty of money — an angel investor has seen to that. Your biggest worry right now is to develop a new game that will be much more successful than Minecraft, a popular existing VR game. Your biggest concern right now is with (efficiency or effectiveness)

effectiveness

efficiency vs effectiveness

efficiency: refers to the amount of resources needed to meet a goal effectiveness: if the organization matches the performance goals it sets for itself

The term _____ means that workers are committed to their company and they believe in the work that they are doing.

employee engagement

cross functional teams

employees from about the same hierarchical level, but from different work areas, who come together to accomplish a task

What are "quants"?

financial managers who base their decisions on complex quantitative analysis

Management by means (MBM)

focuses attention on the methods and processes used to achieve goals

permanent teams

groups of employees who are organized in a way similar to a formal department

functional structure (U-form or unitary structure)

groups people into different departments based on the type of work they do

What are the number one and number two causes of management failure?

lack of interpersonal skills and lack of communication skills

Demetrius has a weekly meeting with his sales staff to review their performance and offer suggestions and strategies for their upcoming sales appointments. Demetrius is __________ his employees to help them achieve their goals.

leading

While describing the company's new reorganization, the CEO uses _____ to encourage employees and explain how it will benefit the company.

leading

Key performance indicators (KPIs)

measurements that define and measure the progress of an organization toward achieving its objectives

When managers meet to discuss _____, topics on the agenda include how tasks will be assigned, reporting relationships, and how to coordinate effort across departments.

organization structure

Julia uses _____ to determine how many focus groups will need to be conducted in order to accomplish the company's research goals.

planning

What are the four key management activities?

planning, organizing, leading, controlling

In this type of organization, the company focuses more on bringing producers and consumers together than it does on producing a good or a service

platform-based organization

5 tasks of a manager's job

setting goals, organizing, communicating and motivating, measuring performance, and developing people

technical skills

skills that involve the ability to perform tasks in a specific discipline or department

level of goals and plans

strategic, tactical, operational

SWOT

strengths, weaknesses, opportunities, threats

If you are looking at the organization chart of a _____, you see more hierarchical levels and managers with relatively narrow spans of control.

tall structure

conceptual skills

the ability to analyze and diagnose a situation and to distinguish between cause and effect

team based structure

the entire organization is made up of horizontal teams that coordinate their work and work directly with customers to accomplish the organization's goals

T or F: Effective organizing includes making sure teams are optimally designed

true

T or F: The controlling function should be practiced regularly

true

directive style of decision making

used by people who prefer simple, clear-cut solutions to problems

operations research

uses mathematical modeling and other quantitative techniques to solve managerial problems

team structure

uses permanent and temporary cross-functional teams to improve lateral relations

behavioral style of decision making

work well with others, avoid conflict, want to keep everyone happy, difficult time saying no