Management Final

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  1. Definition of management
    getting work done through others
  2. Definition of Efficiency
    getting work done with a minimum of expense, effort, or waste
  3. Definition of Effectiveness
    accomplishing tasks that help fulfill organizational objectives
  4. 4 functions of managements + definitions
    • Planning--determining organizational goals and a means of achieving them
    • Organizing--deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom
    • Leading--inspiring and motivating workers to work hard to achieve organizational goals
    • Controlling--monitoring progress towards goal achievement and taking corrective action when needed
  5. 4 factors facing managers in the new competitive landscape
    • Globalization
    • Technology
    • Importance of Knowledge
    • Collaboration across organizational boundaries
  6. Definition of Competitive Advantage
    a condition or circumstance that puts a company in a favorable or superior business position
  7. Management Agreement
    Managers are expected to set the example for their department or organization and to exemplify behavior they expect from subordinates
  8. Fred Taylor--Scientific Management
    • 1) Develop a science for every man's method of work
    • 2) Selectively train and teach this man
    • 3) Cooperate with the man to make sure the work is good
    • 4) Equal division of labor between manager and workers
  9. Frank and Lillian Gilbreth & Motion Studies
    breaking each task or job into separate motions and then eliminating those that are unnecessary or repetitive
  10. Max Weber and Bureaucracy
    “the exercise of control on the basis of knowledge”
  11. Henri Fayol's 5 functions--what else is he known for?
    planning, organizing, coordinating, commanding, and controlling; his 14 principles of management
  12. Mary Parker Follett & conflict
    Conflict – “the appearance of difference, difference of opinions, of interests”--resolved with domination, compromise, or integrative conflict resolution
  13. Hawthorne Studies + Attitudes
    Workers not just extensions of machines, and financial incentives weren’t necessarily the most important for motivating workers.
  14. Inputs/Outputs
    • Inputs--raw materials, information, etc.
    • Outputs--products and services
  15. 3 Aspects of the Internal/External Environment
    Internal, General (Macro), Specific (Competitive/Task)
  16. Definition of threats, opportunities, strengths, weaknesses
    • Strengths: characteristics of the business or project that give it an advantage over others.
    • Weaknesses: characteristics that place the business or project at a disadvantage relative to others
    • Opportunities: elements that the project could exploit to its advantage
    • Threats: elements in the environment that could cause trouble for the business or project
  17. Porter's 5 forces of the competitive environment
    • 1) Threat of entry for competitors
    • 2) Bargaining Power of buyers
    • 3) Bargaining Power of Suppliers
    • 4) Threat of Substitutes
    • 5) Intensity of Rivalry
  18. Barriers to entry
    Economies of scale, brand loyalty
  19. Barriers to exit
    fixed cost of closing down; an unwillingness to reduce capacity due to hope that demand will rebound; legislation preventing exit
  20. Definition of organizational culture
    values, beliefs, and attitudes shared by members of the organization
  21. 3 levels of organizational culture (1 visible; 2 invisible)
    • Seen--surface level; artifacts, behaviors
    • Heard--Expressed values and beliefs; what people say and how decisions are made and explained
    • Believed--unconscious assumptions and beliefs; rarely discussed
  22. Difference between shared, espoused, and enacted values
    • Espoused--Represent the explicitly stated values and norms that are preferred by an organization;
    • Enacted values--Represent the values and norms that actually are exhibited or converted into employee behavior
    • Shared--espoused and enacted values
  23. Keys to an organizational culture that fosters success
    Adaptability, Employee involvement, clear vision, consistency
  24. 4 methods to change or strengthen a culture
    Behavioral addition or substitution; visible artifacts; selective hiring; keep it culturally consistent
  25. 4 strategies to merge organizational cultures
    Assimilation, Deculturation, Integration, Separation
  26. Benefits of planning
    intensified effort, persistence, direction, and creation of task strategies
  27. Pitfalls of planning
    False sense of certainty, detachment of planners, can impede change
  28. Management by Objectives
    • (1) discuss possible goals;
    • (2) select goals that are challenging, attainable, and consistent with the company’s overall goals;
    • (3) develop tactical plans that lead to the accomplishment of tactical goals; and
    • (4) meet regularly to review progress
    • toward accomplishment of goals
  29. Characteristics of SMART goals
    Specific, Measurable, Attainable, Relevant, Timely
  30. Scenario Planning benefits and traps
    • Benefits--being prepared, etc.
    • Traps--unfocused, too small in scope, remaining unflexible,
  31. Programmed vs. Non-programmed decisions
    • programmed--problem is common, with a consistent solution based on rules, etc.
    • non-programmed--problem is rare, requires creativity
  32. Definition of the 3 models of decision making
    • Rational model--thorough, step-by-step
    • Bounded rationality model--there are limits to rationale;
    • Garbage Can model--disconnects problems from solutions
  33. Definition of satisfice
    searching through available alternatives until an acceptable threshold is reached
  34. Definition of heuristics
    experience-based techniques that look for effective but not necessarily optimal solutions
  35. Definition of cognitive biases
    Cognitive biases are decision making mistakes that we are all prone to making & have been repeatedly verified in research.
  36. Benefits of participation in decision making
    leaves one less responsible; more "polar"; generates alternative solutions; leads to higher commitment;
  37. Pitfalls of group decision making
    groupthink; takes too much time; satisficing may occur
  38. Difference between cognitive and affective conflict
    • C-type--intellectual, discussion-based conflict
    • A-type--emotional, stupid
  39. Definition of strategy
    An action managers take to attain a goal of an organization
  40. Components of superior performance
    high profitability + growth in profits over time
  41. Definition of competitive advantage
    advantage attained when a firm outperforms its rivals
  42. Components of competitive advantage
    ability to lower cost relative to rivals; ability to differentiate product offerings; distinctive competencies (valuable, rare, imperfectly imitable, non-substitutable)
  43. Definition of corporate level strategy
    Strategy concerned with deciding which industries a firms should compete in and how the firm should enter or exit industries
  44. Definition of vertical integration
    Moving upstream into businesses that supply inputs to a firm’s core business or downstream into businesses that use the outputs of the firm’s core business.
  45. Difference between related and unrelated diversification
    entering a field with distinct similarities vs. entering an entirely different field
  46. 2 general positioning strategies (i.e., competitive themes)
    • Cost leadership strategy--This strategy involves the firm winning market share by appealing to cost-conscious or price-sensitive customers.
    • Differentiation strategy--Differentiate the products in some way in order to compete successfully.
  47. Examples of broad low cost, broad differentiation, focused low cost, and focused differentiation strategies
    • Broad low cost--Wal-mart, K-mart
    • Broad differentiation--Sears, Macy's
    • Focused low cost--Costco, Dollar Tree
    • Focused differentiation--Abercrombie, Gap
  48. Definition of strategic fit
    expresses the degree to which an organization is matching its resources and capabilities with the opportunities in the external environment
  49. Difference between missions and visions
    • Mission--ends, not means; should imply effort and activity
    • Vision--should provide a worthwhile target
  50. Definition of values and goals
    • Values--should provide the reasons for actions
    • Goals--provide a means by which to accomplish the mission
  51. Definition of division of labor and specialization
  52. 3 dimensions of designing structure
  53. 5 types of departmentalization
  54. Pros and Cons of functional vs. divisional departmentalization
  55. 2 components of vertical differentiation
  56. Definition of delegation and 3 transfers involved
  57. Adv. and disadv. of centralization
  58. 2 types of hierarchies
  59. Definition of span of control
  60. Definition of delayering
  61. Definition of standardization and formalization
  62. Definition of knowledge networks
  63. Definition of teams
  64. Definition of social loafing
  65. Reasons why groups/teams fail
  66. 5 types of teams based on the autonomy continuum
  67. 4 team design features
  68. 4 team processes
  69. 5 stages of team development
  70. Definition of team norms
  71. Definition of team cohesiveness
  72. Definition of team trust (3 types)
  73. Definition of team effectiveness
  74. Importance of Team Diversity
  75. Reasons why strategic human resources can create competitive advantages
  76. Components of a job analysis
  77. Definitions of 3 types of interviews
  78. Definition of selection
  79. Types of selection tests
  80. 2 purposes of performance appraisal
  81. Definition and implications of downsizing
  82. Difference between functional and dysfunctional turnover
  83. Definition of organizational diversity
  84. Definition of the glass ceiling
  85. Definition of sexual harassment
  86. 2 types of sexual harassment
  87. Difference between diversity management and affirmative action
  88. Ways diversity can lead to a competitive advantage
  89. Definition of surface level and deep level diversity
  90. Definition of each of the big 5 personality traits
  91. Definition of motivation
  92. Definition of ability, role perceptions, situational factors, and motivation as it relates to the MARS model and job performance
  93. Definition of needs
  94. Maslow's Hierarchy of Needs and its implications
  95. McClelland's 3 Learned needs and its implications
  96. Two types of rewards
  97. Definition of expectancy theory and its components (i.e., events and beliefs)
  98. Reinforcement theory and the 4 processes involved, i.e., positive and negative reinforcement, punishment, and extinction
  99. Definition of goal setting theory
  100. Definition of leadership
  101. Importance of vision for good leadership
  102. Differences/similarities between managers and leaders
  103. 5 sources of power for leaders
  104. 5 general perspectives of leadership discussed
  105. Components of the Power/Influence Perspective
  106. Examples of traits in the trait perspective
  107. Two dominant behaviors of the behavioral perspective and which impacts satisfaction/performance (i.e., define initiating structure and consideration)
  108. Definitions and components of the 3 major contingency perspectives (Fiedler, Path-Goal, and Substitutes)
  109. Conditions under which task or people oriented leaders are more effective according to Fiedler
  110. Definition of the 4 leadership style that can be used according to Path-Goal theory
  111. 3 functions of the leader according to Path-Goal theory
  112. 2 types of Visionary leadership
  113. 2 charismatic styles of leadership
  114. Definition of transformational leadership and transactional leadership
  115. 4 skills of transformational leaders (4 'i's)
  116. Definition of control and steps in the control process
  117. 3 basic control methods
  118. Types of financial controls
  119. 3 ways to measure quality
  120. Ways to make control systems more effective
  121. Definition of power and countervailing power
  122. 5 different sources of power
  123. 3 components of hierarchical power
  124. 2 channel formations for information control
  125. Definition of reciprocity
  126. 7 attributes that are sources of personal power
  127. 4 contingencies of power
  128. Definition of influence tactics
  129. 7 different influence tactics and their descriptions
  130. 3 consequences of influence tactics
  131. Definition of conflict and 5 styles to deal with it
  132. Definition of negotiation
  133. 3 factors that influence negotiation effectiveness
  134. 3 reasons that concessions are important during negotiation
  135. 5 reasons why communication is an important skill
  136. Definition of semantics
  137. Definition of perception
  138. Definition of attribution theory
  139. Definition of defensive bias
  140. External vs. internal attributions
  141. Definition of the self-serving bias
  142. Definition of noise/types
  143. Types of formal communication channels
  144. Types of informal communication channels
  145. Definition of coaching
  146. Aspects of nonverbal communication
  147. Questions used to understand an audience
  148. Tips for developing listening skills
  149. Active listening techniques
  150. Methods used to communicate in an organization
  151. 2 types of feedback
  152. Definition of organizational silence
Card Set
Management Final
Management god-dammit!
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