MGT 205 Final Exam

  1. Four ethical rules for decision making
    Utilitarian, Moral, Practical, Justice
  2. Utilitarian
    An ethical decision should produce the greatest good for the greatest number of people
  3. Moral Rights
    An ethical decision should maintain and protect the fundamental rights and privileges of people.
  4. Practical Rule
    An ethical decision should be one that a manager has no hesitation about communicating to people outside the company because the typical person in society would think the decision is acceptable.
  5. Justice Rule
    An ethical decision should distribute benefits and harm among people in a fair, equitable and impartial manner.
  6. Stakeholders
    Managers, Customers, Community/Society/Nation-State, Suppliers/Distributors, Employees
  7. General Environment
    Technological, Sociocultural, Demographic, Political/legal, Economical (TSDPE trashy sluts don't putout enough)
  8. Task Environment
    Competitors, Distributors, Customers, Suppliers (CDCS)
  9. Programmed Decision Making
    A routine, virtually automatic process that follows established rules or guidelines. Conceptual, Human, and Technical Skills.
  10. Non programmed Decision Making
    required for non routine decisions, made in response to unusual or novel opportunities and threats
  11. Types of organizational conflict
    Interpersonal, Intragroup, Intergroup, Interorganizational
  12. Interpersonal conflict
    Between individual members of an organization occurring because of differences in their goals or values.
  13. Intragroup conflict
    Conflict that arises within a group, team, or department
  14. Intergroup conflict
    Conflict that occurs between groups, teams, or departments
  15. Interorganizational conflict
    Arises across organizations
  16. Compromise
    Each party is concerned about their goal accomplishment and is willing to engage in give-and-take exchange to reach a reasonable solution
  17. Collaboration
    Parties try to handle conflict without making concessions by coming up with a new way to resolve their differences that leave them both better off.
  18. Accommodator
    A person who simply gives in to the counterpart's interests, values, and goals
  19. Avoider
    Two parties try to ignore the problem and do nothing to resolve the disagreement
  20. Competitor
    Each party tries to maximize its own gain and has little interest in understanding the other's position
  21. Cognitive Biases
    Heuristics, Prior hypothesis, Representativeness Bias, Illusion of control, Escalating commitment
  22. Heuristics
    Rule of thumb
  23. Prior hypothesis
    Use of strong prior beliefs amongst two variables
  24. Representativeness bias
    Generalize from a small sample
  25. Illusion of control
    The tendency to overestimate one's own ability to control activities and events
  26. Escalating commitment
    Tendency to commit additional resources to an event even though evidence shows that it is failing
  27. Group decision making
    Process of drawing upon the combined skills, competencies, and accumulated knowledge of group members and thereby improve the ability to generate feasible alternatives and make good decisions
  28. Mission Statement
    • 1.Who are
    • your customers?

    • 2.What
    • customer needs will the SARF satisfy?

    • 3.How will
    • the SARF satisfy the customer needs?
  29. Strategy
    A cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals
  30. Planning
    An essential managerial task and process that managers use to identify and select appropriate goals, and courses of action for the organization.
  31. Interrelated Elements of Negotiations
    Information, Power, Timing
  32. Develop Strategies
    What If, SWOT, Michael Porter's Five Forces
  33. Michael Porter's Business-Level Strategies
    Low Cost, Differentiation, Focused Low Cost, Focused Differentiation
  34. Low Cost
    Keeping costs below organization's rival
  35. Differetiation
    Creating a distinguishing product
  36. Focused Low Cost
    Serving one segment of the overall market, and trying to be the lowest-cost organization serving that segment.
  37. Focused Differentiation
    Serving one segment of the overall market and trying to be the most distinguishable organization in that segment
  38. Output control
    Financial measures of performance, operating budgets, organizational goals
  39. Behavior control
    Direct supervision, management by objectives, standard operating procedures
  40. Clan control
    The control exerted on the employees by shared values, norms and expectations of the culture
  41. Kurt Lewin's Force Field Model of Change
    To make a change, one must raise forces for change (medication, working out) and lower resistence to change (eating fatty foods)
  42. Management by Objectives
    First and top line managers meet to discuss goals, and review progress periodically
  43. Organizational Change
    The movement of an organization away from its present state toward a desired future state to increase its efficiency and effectiveness
  44. Motivation Equation
    Inputs from organizational members (time, effort, experience), performance (contribution to organizational wellness), outcomes received by organizational members (pay, benefits, security)
  45. Expectancy Theory
    The belief that effort (input ) will result in a certain level of performance
  46. Equity theory
    Focuses on people's perceptions of the fairness (or lack of) of their work outcomes in proportion to their work inputs
  47. Merit Pay Plans
    Individual, Group plans, Organizational plan (When individual, group are capable of being measures vs org when they cannot)
  48. Basis of Organizational Conflict
    Interests, and/pr, values and/or goals of different individuals are incompatible and the individuals thwart one another's attempts to achieve their objectives.
  49. Effect of conflict on organizational model
    Low: too little conflict causes performance to suffer

    Optium level: leads to effective decision making and high performance

    High: Too much conflict causes performance to suffer
  50. No to Yes
    Listen actively, win yourself a hearing, work to a joint solution
Card Set
MGT 205 Final Exam
MGT Final