1. Management
    Getting work done through others
  2. Effectiveness
    managers must strive for this, accomplishing tasks that help fulfill organizational objectives
  3. Efficiency
    getting work done with a minimum effort, expense or waste
  4. Five Managerial Functions to be Successful
    Planning organizing coordinating commanding and controlling
  5. Planning
    Determining organizational goals and a means for achieving them
  6. Organizing
    Deciding where decisions will be made, who will do what jobs and tasks and who will work for whom in the company
  7. Leading
    inspiring and motivating workers to work hard to achieve organizational goals
  8. Controlling
    Monitoring progress toward goal achievement and taking corrective action when progress isnt being made.
  9. Top Managers
    Hold positions like chief executive officer (CEO) COO CFO and CIO. they are responsible for the overall direction of the organization.
  10. Team Leaders
    Managers responsible for facilitating team activities toward accomplishing a goal
  11. figurehead role
    the interpersonal role managers play when they perform ceremonial duties. Examples: greeting company visitors, speaking at the opening of a new facility, or representing the company at a community luncheon.
  12. Leader Role
    Managers motivate and encourage workers to accomplish organizational objectives
  13. Liaison role
    managers deal with people outside their units
  14. Monitor Role
    Managers scan their environment for information, actively contact others for info, and because of their personal contacts receive a great deal of unsolicited information
  15. Disseminator role
    Managers share the information they have collected wth their subordinates and others in the community
  16. Entrepreneur Role
    Managers adapt them selves their subordinates and their units to change
  17. Resource allocator role
    Managers decide who will get what resources and in what amounts
  18. Negotiator Role
    managers negotiate schedules projects goals outcomes resources and employee raises
  19. What do Companys look for in managers"
    Human Skills, Technical Skills, Conceptual Skills, and Motivation to manage
  20. Conceptual Skills
    • include the ability to see the organization as a whole, to understand
    • how the different parts of the company affect each other, and to recognize how
    • the company fits into or is affected by elements of its external environment
    • such as the local community, social and economic forces, customers, and the
    • competition
  21. Motivation to Manage
    • an assessment of how motivated employees are to interact with superiors
    • participate in competitive situations, behave assertively toward others, tell
    • others what to do etc
  22. Competitive Advantage Through People
    • Employment Security
    • Selective hiring
    • self managed teams and decentralization
    • high wages contingent on organizational performance
    • training and skill development
    • reduction of status differences
    • sharing information
  23. Environmental change
    the rate at which a company's general and specific environments change. In a stable environment the rate of change is slow. in a dynamic environment the rate of change is fast
  24. Punctuated equilibrium Theory
    Companies go through long, simple periods of stability during which incremental changes occur, followed by short, comlex periods of dynamic, fundamental change, which end with a return to stability.
  25. Simple Environments/Complex Environments
    Have few environmental factors that affect organizations(milk organization). Complex have many environmental factors(Napster).
  26. Resource scarcity
    the abundance or shortage of critical resources in an organizations external environment.
  27. Uncertainty
    the extent to which managers can understand or predict the external chanes and trends affecting their business
  28. General Environment/Specific Environment
    • General- consists of the economy and the technological sociocultural and politcal trends that indirectly affect all organizations.
    • Specific- that is unique to that firms industry and directly affect the way it conducts day to day business.
  29. Technology
    The knowledge tools and techniques used to transform input into output
  30. Competitive Analysis
    a process for monitoring the competition that involves identifying competition anticipating their moves and determining their strengths and weaknesses
  31. Suppliers
    Companies that provide material, human, financial, and informational resources to other companies.
  32. Supplier Dependece/Buy Dependence
    • Supplier Dependence- the degree to which a company relies on a supplier because of the importance of the suppliers product to the company and the difficulty of finding other sources of that product.
    • Buyer Dependence- the degree to which a supplier relies on a buyer because of the importance of that buyer to the suppliers sales etc
  33. Opportunistic behavior
    one party in the relationship benefits at the expense of the other
  34. Relationship behavior
    mutually beneficial, long term exchanges between buyers and suppliers
  35. Industry Regulation
    Regulations and rules that govern the business practices and procedures of specific industries, businesses and professions
  36. Advocacy Groups
    groups of concerned citizens who band together to try to influence the business practices of specific industries, businesses and professions.
  37. Public communications approach
    relies on voluntary participation by the news media and the advertising industry to send out an advocacy groups message.
  38. Media Advocacy
    Is much more aggressive than public communications, typically involves framing the groups concerns as public issues affecting everyone. Exposing questionable exploitative or unethical practices etc.
  39. Environmental Scanning
    Searching the environment for important events or issues that might affect an organization. Managers can the environment to stay up to date on important factors in their industry.
  40. Cognitive Maps
    graphic depictions that summarize the perceived relationships between environmental factors and possible organizational actions.
  41. Internal Environment
    the trends and events within an organization that affect the management, employees and organizational culture.
  42. Organizational Culture
    The values, beliefs and attitudes shared by members of the org
  43. Organizational Stories
    Stories told by members to make sense of events and changes in an organization and to emphasize culturally consistent assumptions, decisions, and actions. (wal-mart) stories about the founders thriftiness
  44. Organizational Heroes
    People admired for their qualities and achievements within the organization.
  45. Company Vision
    The business purpose or reason for existing.
  46. Consistent Organizational Culture
    the company actively defines and teaches organizational values, beliefs, and attitudes.
  47. Behavioral Addition/Behavioral Substitution
    • Ways to change a corporate culture, Behavioral addition, The process of having managers and employees perform a new behavior.
    • Behavioral Substitution- having managers and employees perform a new behavior in place of another.
  48. Visible Artifacts
    • another way in which mangaers can change the corporate culture is by changing the visible artifacts of their old culture.
    • visible signs of an organizations culture, such as the office design and layout, company dress code, and company benefits and perks.
  49. Peter Drucker quote about Management
    Management is doing things right, leadership is doing the right things.
  50. Needs
    The physical or psychological requirements that must be met to ensure survival and well being
  51. Extrinsic Rewards
    Tangible and visible to others and are given to employees contingent on the performance of specific tasks or behaviors.
  52. Intrinsic Rewards
    the natural rewards associated with performing a task or activity for its own sake. i.e. a sense of accomplishment, a feeling of responsibility
  53. Equity Theory
    a theory that states that people will be motivated when they perceive that they are being treated fairly
  54. Components of Equity Theory
    • Inputs- are the contributions employees make to the organization. (education and training etc)
    • Outcomes- the rewards employees receive in exchange for their contributions to the organization. (pay fringe benefits, status symbols)
    • Referents- are others with whom people compare themselves to determine if they have been treated fairly.
  55. Outcome/Input (O/I) ratio
    in equity theory an employees perception of how the rewards received from an organization compare with the employees contributions to that organization.

    OUTCOMESself/INPUTSself= OUTCOMESreferent/INPUTSreferent
  56. Underreward
    Occurs when your O/I ratio is worse than your referents O/I ratio. Basically you are getting fewer outcomes relative to your inputs than your referent is getting.
  57. Overreward
    Occurs when your O/I ratio is better than your refferents. You are getting more outcomes relative to your inputs than your referent is. people experience guilt when they are overrewarded
  58. Distributive Justice
    The degree to which outcomes and rewards are perceived to be fairly distributed or allocated.
  59. Procedural Justice
    the perceived fairness of the procedures used to make reward allocation decisions
  60. Expectancy Theory
    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.
  61. Components of Expectancy Theory (3 factors)
    Valence- the attractiveness or deirability of various rewards or outcomes.

    Expectancy- the perceived relationship between effort and performance. when expectancies are strong employees believe that their hard work and efforts will result in good performance

    Instrumentality- the perceived relationship between performance and rewards. when instrumentality is strong, employees believe that improved performace will lead to better and more rewards so they work harder
  62. Motivation=?
    Motivation = Valence X Expectancy X Instrumentality
  63. Reinforcement Theory
    behavior is a function of its consequences, that behaviors followed by positive consequences (i.e. reinforced) will occur more frequently, and that behaviors followed by negative consequences will occur less frequently.
  64. Reinforcement
    The process of changing behavior by changing the consequences that follow behavior
  65. Reinforcement contingencies
    the cause and effect relationships between the performance of specific behaviors and specific consequences. for example being late for work and losing an hours pay, thats the contingency between being late and losing an hours pay.
  66. Punishment
    Weakens behavior (decreases its frequency) by following behaviors with undersirable consequences. Example, managers have to be careful to avoid the backlash that sometimes occurs when employees are punished at work.
  67. Extinction
    a reinforcement strategy in which a positive consequence is no longer allowed to follow a previously reinforced behavior.
  68. Continuous Reinforcement Schedules vs Intermittent reinforcement
    • Continuous- a consequence follows every instance of a behavior.
    • intermittent- consequences are delivered after a specified or average time has elapsed or after a specified or average number of behaviors has occurred.
  69. Goal Setting theory
    people will be motivated to the extent they accept specific challenging goals and receive feedback that indicates their progress toward goal achievement
  70. Goal Specficity
    the extent to which goals are detailed exact and unambiguous
  71. Performance Feedback
    information about the quality or quantity of past performance that indicates whether progress is being made toward the accomplishment of a goal.
  72. Trait Theory
    • Says that effective leaders possess a similar set of traits or characteristics.
    • Traits- are relatively stable characteristics such as abilities, psychological motives, and consistent patterns of behavior.
  73. Initiating Structure
    The degree to which a leader structures the roles of followers by setting goals, giving directions, setting deadlines, and assigning tasks
  74. Consideration
    the extent to which a leader is friendly approachable and supportive and shows concern for emplyees.
  75. Fiedlers Contingency Theory
    in order to maximize work group performance, leaders must be matched to the right leadership situation.
  76. Situational Favorableness
    the degree to which a particular situation either permits or denies a leader the chane to influence the behavior of group members
  77. Leader Member Relations
    how well followers respect, trust, and like their leaders.
  78. Task Structure-
    the degree to which the requirements of a subordinates tasks are clearly specified.
  79. Position Power
    the degree to which leaders are able to hire, fire, reward, and punish workers.
  80. Path Goal Theory
    leaders can increase subordinate satisfaction and performance by clarifying and clearing the paths to goals and by increasing the number and kinds of rewards available for goal attainment.
  81. Directive Leadership
    a leadership style in which the leader lets employees know precisely what is expected of them, gives them specific guidelines for performing tasks, schedulues work, sets standards of performance, and makes sure that people follow standard rules and regulations
  82. Supportive leadership
    involves being approachable and friendly to employees, showing concern for them and their welfare, treating them as equals, and creating a friendly climate
  83. Participative leadership
    involves consulting employees for their suggestions and input before making decisions
  84. achievement oriented leadership
    setting challenging goals, having high expectations of employes, and displaying confidence that employees will assume responsibility and put forth extraordinary effort.
  85. Normative Decision Theory
    A theory that suggests how leaders can determine an appropriate amount of emplyee participation when making decisions
  86. Strategic leadership
    the ability to anticipate, envision, maintain flexibility, think strategically, and work with others to initiate changes that will create a positive future for an organization
  87. Visionary Leadership
    Creates a positive image of the future that motivates organizational members and provides direction for future planning and goal setting
  88. Charismatic leadership
    the behavioral tendencies and personal characteristics of leaders that create an exceptionally strong relationship between them and their followers
  89. Transformational leadership
    leadership that generates awareness and acceptance of a groups purpose ans mission and gets employees to see beyond their own needs and self interests for the good of the group.
  90. Transactional leadership
    based on an exchange process in which followers are rewarded for good performance and punished for poor performance.
Card Set
MGMT Exam 1