Management and Organizational Behavior: A Comprehensive Study, Quizzes of Introduction to Business Management

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TERM 1 Management DEFINITION 1 the pursuit of organizational goals efficiently and effectively TERM 2 Organizations DEFINITION 2 People who work together to achieve a specific purpose TERM 3 Efficiency DEFINITION 3 the means of attaining an organization's goals TERM 4 Effectiveness DEFINITION 4 the ends to achieve results, make the right decisions, and successfully carry them out TERM 5 Multiplier Effect DEFINITION 5 A manager's influence on an organization is multiplied far beyond the results that can be achieved by just one person (managers create value) TERM 6 4 Rewards of Studying Management DEFINITION 6 How to deal with organizations from the outside How to relate to your supervisors How to interact with coworkers How to manage yourself in the workplace TERM 7 3 Rewards of Practicing Management DEFINITION 7 You and your employees can experience a sense of accomplishment you can stretch your abilities and magnify your range you can build a catalog of successful products or services TERM 8 7 Challenges of Being Managers DEFINITION 8 Managing for competitive advantage (Staying ahead of rivals) Managing for Globalization Managing for Diversity Managing for IT Managing for Ethical Standards Managing for Sustainability Managing for Your Own Happiness & Life Goals TERM 9 4 Areas Organizations Must Stay Ahead in DEFINITION 9 Being Responsive to Customers Innovation Quality Efficiency TERM 10 4 Principle Functions of Management (Henri Fayol) DEFINITION 10 Planning Organizing Controlling Leading TERM 21 Stakeholder DEFINITION 21 The person whose interests are affected by an organizations activities TERM 22 Internal Stakeholders DEFINITION 22 Employees, owners, board of directors TERM 23 External Stakeholders DEFINITION 23 People or goups in the organizations external environment that are affected by it directly TERM 24 2 Environments of External Stakeholders DEFINITION 24 Task Environment General Environment TERM 25 11 Task Environments DEFINITION 25 Customers Competitors Suppliers Distributors Strategic Allies Employee Organizations Local Communities Financial Institutions Government Regulators Special-Interest Groups Mass Media TERM 26 6 General Environments DEFINITION 26 Economic Forces (trends, unemployment, inflation, etc) Technological Forces Sociocultural Forces Demographic Forces Political-legal Forces International Forces TERM 27 Ethical Dilemma DEFINITION 27 Situation in which you have to decide whether to purse a douse of action TERM 28 4 Approaches to Deciding Ethical Dilemmas DEFINITION 28 Utilitarian Approach Individual Approach Moral Rights Approach Justice Approach TERM 29 Utilitarian Approach DEFINITION 29 Guided by what will result in the greatest good for the greatest number of people TERM 30 Individual Approach DEFINITION 30 What will result in the individual's best long-term interests TERM 31 Moral Rights Approach DEFINITION 31 Respect for the fundamental rights of human beings TERM 32 Justice Approach DEFINITION 32 Respect for impartial standards of fairness and equity TERM 33 Ponzi Scheme DEFINITION 33 Using new cash from newer investors to pay off older ones TERM 34 Sarbanes-Oxley Reform Act DEFINITION 34 (2002) established requirements for proper financial record keeping for public companies and penalties of as much as 25 years TERM 35 4 Ways of Promoting Ethics DEFINITION 35 Create a strong ethical climate (employees perceptions on the workplace) Screening Prospective employees Instituting ethics codes and training programs Rewarding ethical behavior TERM 46 Vision Statement DEFINITION 46 What the organization should become (defining strategy and direction) TERM 47 3 Levels of Planning DEFINITION 47 Strategic Planning by top management (long-term goals) Tactical Planning by middle management (contributions in next 6-24 months) Operational Planning by first-line management (specific tasks within a year) TERM 48 Standing Plans DEFINITION 48 Developed for activities that occur repeatedly over a period of time TERM 49 3 Types of Standing Plans DEFINITION 49 Policy - outlines the general response to a problem Procedure - particular problems Rule - designates specific required action TERM 50 Single-Use Plans DEFINITION 50 Developed for activities that are not likely to be repeated TERM 51 2 Types of Single-Use Plans DEFINITION 51 Program - a range of projects or activities Project - less scope and complexity than a program TERM 52 SMART DEFINITION 52 SpecificMeasurableAttainableResult-orientedTarget dates TERM 53 4 Steps of MBO DEFINITION 53 Management by Objective: Managers and employees jointly set objectives for the employee Managers develop action plans Managers and employees periodically review the employee's performance Managers make a performance appraisal and reward the employee TERM 54 3 Musts for MBO to be Successful DEFINITION 54 Top Management must be committed Must be applied organization wide objectives must "Cascade" (unified hierarchy) --> more specific at lower levels TERM 55 4 Reasons for Planning DEFINITION 55 Provide Direction Set the standards to facilitate control minimize waste and redundancy reduce the negative impact of changes TERM 56 Criticisms of Formal Planning DEFINITION 56 May create rigidity, difficult to develop for dynamic environment, can't replace intuition TERM 57 Business Plan DEFINITION 57 a firm's goals, strategy for achieving them, and the standards for measuring success TERM 58 Strategy DEFINITION 58 A large-scale action plan that sets the direction for an organization "educated guess" TERM 59 Strategic Management DEFINITION 59 Process that involves managers from all parts of the organization in the formulation and the implementation of strategies and goals TERM 60 Strategic Planning DEFINITION 60 Determines long-term goals for the next 1-5 years TERM 71 Michael Porter's 5 Competitive Forces DEFINITION 71 Threats of New Entrants Bargaining Power of Suppliers Bargaining Power of Buyers Threats of Substitute Products or Services Rivalry Among Competitors TERM 72 Michael Porter's 4 Competitive Strategies DEFINITION 72 Cost-Leadership Differentiation Cost-focus Focused-DIfferentiation TERM 73 cost-leadership DEFINITION 73 keep costs lower than competitors with a wide market TERM 74 differentiation DEFINITION 74 offer unique products/services to a wide market TERM 75 cost-focus DEFINITION 75 keep costs lower than competitors with a narrow market TERM 76 focused-differentiation DEFINITION 76 off unique products/services to a narrow market TERM 77 Single-Product DEFINITION 77 A company makes and sells only one product within its marketbenefit-->focus risk---> vulnerability TERM 78 Diversification DEFINITION 78 Operating several businesses in order to avoid risk TERM 79 Unrelated Diversification DEFINITION 79 operating several businesses under one ownership that are not related to one another TERM 80 Related Diversification DEFINITION 80 An organization under one ownership operates separate businesses that are related to one another TERM 81 3 Benefits of Related Diversification DEFINITION 81 Reduced risk management efficiencies synergy (sum is greater than parts) TERM 82 3 Core Processes of Business DEFINITION 82 People Strategy Operations TERM 83 Adam Smith DEFINITION 83 Wealth of Nations (1776) Invisible Hand - society is best off when people can make choices that result in the best outcomes for each individual Division of Labor TERM 84 3 Benefits of High Productivity DEFINITION 84 Fosters economic growth increases individual wages without inflation lowers costs and makes firms more competitive TERM 85 Profit Equation DEFINITION 85 Z = Q * (P - Cv) - Cf TERM 96 Who was a part of the scientific management phase? DEFINITION 96 Frederick Taylor Frank and Lillian Gilbreth Henry Gantt TERM 97 Administrative Management DEFINITION 97 Concerned with managing the total organization TERM 98 Who was a part of the administrative management phase? DEFINITION 98 Henri Fayol Max Weber TERM 99 Henri Fayol DEFINITION 99 1st to identify the 4 major functions of management (planning,organizing, leading, controlling) TERM 100 Max Weber DEFINITION 100 Thought that bureaucracy is a rational, efficient, ideal organization based on principles of logic TERM 101 5 Positive Bureaucratic Features DEFINITION 101 A well-defined hierarchy Formal rules and procedures A clear division of labor impersonality careers based on merit TERM 102 Behavioral Perspective (3 Branches) DEFINITION 102 emphasized the importance of understanding human behavior and of motivating employees toward achievement Early Behaviorism Human Relations Movement Behavioral Science Approach TERM 103 Hugo Munsterberg DEFINITION 103 "father of industrial psychology"scientists can contribute in 3 ways: study jobs and determine which people are best suited to jobs identify the psychological conditions under which employees do their best work devise management strategies to influence employees to follow management's interests TERM 104 Mary Parker Follet and her 3 Important Ideas DEFINITION 104 believed in democratic organizations organizations should be operated as communities with managers and subordinates working in harmony conflicts should be resolved by having managers and workers talk over differences the work process should be under control of workers with the relevant knowledge TERM 105 Elton Mayo DEFINITION 105 The Hawthorne Effect--> would you perform better at your job if you thought your supervisor cared about you and paid more attention to you TERM 106 Who was a part of the Early Behaviorism Phase? DEFINITION 106 Hugo Munsterberg Mary Parker Follet Elton Mayo TERM 107 Human Relations Movement and who was apart of it DEFINITION 107 better human relations means higher worker productivity Abraham Maslow Douglas McGregor TERM 108 Abraham Maslow DEFINITION 108 Hierarchy of Human Needs:PhysiologicalSafetyLoveEsteemSelf-actualization TERM 109 Douglas McGregor DEFINITION 109 Theory X v Theory Y:X- pessimistic view of workersY- optimistic view of workers TERM 110 Quantitative Management DEFINITION 110 The application to management of quantitative techniques such as statistics and computer simulations TERM 121 W. Edwards Deming DEFINITION 121 quality from "constancy of purpose"85-15 Rule : when things go wrong there is an 85% the system is at fault and 15% chance the worker is at fault TERM 122 Joseph M. Juran DEFINITION 122 defined quality as "fitness for use" --> basically satisfy customer needs TERM 123 What two people are a part of TQM DEFINITION 123 W. Edwards Deming Joseph M. Juran TERM 124 4 Components of TQM DEFINITION 124 Make continuous improvements a priority get every employee involved listen to and learn form customers and employees use accurate standards to identify and eliminate problems (benchmarking) TERM 125 Learning Organization DEFINITION 125 a company that facilitates the learning of its members and continuously transforms itself. TERM 126 3 Parts of a Learning Org DEFINITION 126 creating and acquiring knowledge transferring knowledge modifying behavior TERM 127 Henry Gantt DEFINITION 127 linked manger's bonus to their employee's performance Gantt Chart -->shows which tasks must be completed at which time