Download File - Vanessa Hunert

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FINAL REVIEW
activity-based costing system- allocating costs across departments and functions
Affirmative action and EEO- Requires government contractors and a few private sector
employers to take positive steps to correct differences caused by past decisions
balanced scorecard- comprehensive management control system that balances traditional
financial measures with measures of customer service, internal business processes, and the
organizations capacity for learning and growth Balanced perspective of company performance
Integrates various areas of the organization Managers record, analyze, and discuss the metrics
Serves as core management-control system
Barriers to change
Big Five Personality Traits- Set of characteristics that underlie a relatively stable pattern of
behavior in response to ideas, objects, or people in the environment
Extroversion-life of party, comfortable around people, talkative
Agreeableness-kind and sympathetic, never insult people
Conscientiousness-systematic and efficient, pay attention to detail, always prepared for class
Emotional stability-feel critical of myself, envy others, temperamental
Openness to experience-imaginative, vote liberal, like art
Budgeting strategies
Business plan
Business-level strategies
Chain of command- An unbroken line of authority that links all individuals in the organization
and specifies who reports to whom
Cognitive dissonance- Discomfort that occurs when individuals recognize inconsistencies in their
own attitudes and behavior
Conditions for decision making
Corporate-level strategies- pertains to the organization as a whole and the combination of
business units and products what make it up
Culture-set of key values, beliefs, understandings, and norms
shared by members of an organization
Decision Making models---
Descriptive- Describes how managers make decisions
Diversification- strategy of moving into new lines of business
Division of labor- Grouping based on organizational output
Product, Program, Business (self-contained unit)
Geographic or Customer-Based Divisions
Domains of ethical decision making
Economic environment factors
economic value-added system
Effective-refers to the degree to which the organization achieves a stated goal
Efficient-pertains to the amount of resources, raw materials, money, and people used to
produce a desired volume of output
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Ethical decision making approachesUtilitarian approach: method of ethical decision making saying that the ethical choices are the
one that produces the greatest good for the greatest number.
Individualism approach: Acts are moral when they promote the individual’s best long-term
interests
Moral Rights Approach: holds that ethical decisions are those that best maintain the
fundamental rights of the people affected by them
Justice Approach: says ethical decisions must be based on standards of equity, fairness, and
impartiality
Practical Approach: Bases decisions on prevailing professional standards, society, and the
stakeholders
Virtue Ethics Approach: Moral behavior stems from personal virtues
Ethnocentrism- A natural tendency of people to regard their own culture as superior.
Expectancy theory- Motivation depends on individuals’ expectations about their ability to
perform tasks and receive desired rewards
E → P: determining whether putting effort into a given task will lead to high performance
P → O: determining whether successful performance of a task will lead to the desired outcome
Valence – the value or attraction an individual has for an outcome
Factors influencing organizational structures
Financial ratios
Force field analysis- Change is a result of the competition between driving and restraining forces
Driving forces – problems or opportunities that provide motivation for change
Restraining forces – barriers to change
Self-Interest
Lack of Understanding and Trust
Uncertainty
Different Assessments and Goals
Functions of managementManager Types: Vertical
Top managers: Responsible for the entire organization
Middle managers: Responsible for business units
Project managers: Responsible for misinterpreting signals
First-line managers: Responsible for production of goods and services
Management Types: Horizontal
Functional managers: Responsible for departments that perform specific tasks
General Managers: Responsible for several departments
fundamental attribution error
GATT-the general agreement on tariffs and trade, started as a set of rules to ensure
nondiscrimination, clear procedures, the negotiation of disputes, and participation of lesser
developed countries in international trade
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Goal Hierarchy
Historical perspectives on management
Hofstede’s values scalesPower distance: Degree to which people accept inequality in power among institutions,
organizations, and people
Uncertainty avoidance: Value characterized by people's intolerance for uncertainty and
ambiguity and resulting support for beliefs that promise certainty and conformity
Individualism and collectivism: Preference for a loosely knit social framework in which
individuals take care of themselves
Preference for a tightly knit social framework
Masculinity/femininity: Preference for achievement/assertiveness, work centrality, material
success;
Preference for relationships, cooperation, group decision making, and quality of life
individualism approach-refers to a preference for a loosely knit social framework in which
individuals are expected to take care of themselves
Job enlargement- combining a series of tasks into one new, broader job to give employees
variety and challenge
job enrichment- incorporating achievement, recognition, and other high-level motivators into
the work
Job rotation- moving employees from one job to another to provide them with variety and
stimulation
Job satisfaction- A positive attitude toward one’s job
Job simplification- improve task efficiency by reducing the number of tasks
justice approach- says ethical decisions must be based on standards of equity, fairness, and
impartiality
Distributive Justice: Evaluation of outcomes
Different outcomes are inherently unfair and show evidence of potential discrimination
Procedural Justice: Evaluation of the process used in decision making
Rules should be clearly stated
Rules should be consistently and impartially enforced
Compensatory Justice: Evaluation of responsibility
Individuals should be compensated for the cost of their injuries by the party responsible
Individuals should not be held responsible for matters they have no control over, and vise versa
Leverage- The ability to influence a system, or an environment, in a way that multiplies the
outcome of one's efforts without a corresponding increase in the consumption of resources. In
other words, leverage is the advantageous condition of having a relatively small amount of cost
yield a relatively high level of returns.
Liquidity- A measure of the extent to which a person or organization has cash to meet
immediate and short-term obligations, or assets that can be quickly converted to do this.
Management by objectives
Management roles-planning, organizing, leading, controlling.
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Informational-activities used to maintain and develop an information network
Interpersonal-relationship with others and related to human skills
Decisional-events about which manager must make a choice and take action
market value-added system
MBO- is a method whereby managers and employees define goals for every department,
project, and person and use them to monitor subsequent performance
Means-end chain
Mission statement
moral-justice approach-holds that ethical decisions are those that best maintain the
fundamental rights of the people affected by them
Need for Achievement- desire to accomplish something difficult, master complex tasks, and
surpass others.
Need for Belonging
Need for Power- desire to influence or control others.
normative decision making- Describes how a manager should and provides guidelines for
reaching an ideal decision
open-book management system- Decentralized philosophy
Gets every employee thinking like an owner
Information sharing and teamwork
Allows employees to see the financial condition of company
Sees how his/her job fits into organizational success
Operational goals
Organizational citizenship
Organizational Commitment- an employee’s loyalty to and engagement with the organization;
especially important in a tight labor market, which forces employers to compete harder to
attract and keep good workers
perceptual defense
Pluralism- describes an environment in which the organization accommodates several
subcultures, including employees who would otherwise feel isolated and ignored
Policy
Porter's competitive forces--------
Procedure
Profitability- describes the firms profits relative to a
source of profits, such as sales or assets
Realistic job preview- provide pertinent information;
positive and negative
ROA
Roles of management
Rule
Satisficing and Bounded rationality
Scalar principle- Employees should be aware of where
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they stand in the organization's hierarchy, or chain of command, Clear line of authority
self-serving bias
Sources of leader power
Span of management- The number of employees reporting to a supervisor. Less
supervision/larger spans of control
Stages of diversity
Stages of globalizationDomestic stage:
Market potential is limited to the home country
All production and marketing facilities located at home
International stage:
Exports increase, company usually adopts a multi-domestic approach
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Multinational stage:
Marketing and production facilities located in many countries
Assets moved between counties
More than 25% of its sales outside the home country
Top management is expected to take a global perspective
Single management authority with an integrated worldwide business system
Stages of personal moral development
Stages of team development
Strategic goals
Strategies to implement change
Sustainability- economic development that generates wealth and meets the needs of current
generation while preserving the environment and the business for the needs of future
generations
SWOT analysis- Formulating strategy often begins with an audit of internal and external factors
Internal Strengths and Weaknesses
External Opportunities and Threats
Information is acquired from reports, surveys, discussions, and meetings
Synergy- the whole is greater than the sum of its parts
Tactical Goals- help execute major strategic plans
Team characteristics- Two or more people who interact and coordinate their work toward a goal
Design teams for effectiveness
Size
Team performance and productivity peaks at five members
Diversity
Diverse skills, knowledge, and experience produce innovative solutions
Member Roles
Teams must focus on both task and social roles
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Team Effectiveness
Theory X-inherent dislike of work, avoid if possible, must be coerced, controlled, directed, or
threatened with punishment to put in effort, prefers to be directed, avoids responsibility, little
ambition, wants security above all
Theory Y- physical and mental effort in work is as natural as play or rest, external control and
threat of punishment are not only means for bringing about effort, person will exercise selfdirection, under modern industrial life, intellectual potentialities of average human being are
only partially utilized
Title VII of the Civil Rights Act- prohibits discrimination in employment on the basis of race,
religion, color, sex, or national origin
Types of budgets
Types of Business Strategies
Types of cultures
Types of entries into international markets
Types of ethical responsibility
Types of external environments
Types of International Strategies
Types of leader styles
Types of leaders
Types of managers-top manager-at apex of organizational hierarchy and responsible for entire
organization
Middle manager-responsible for major divisions or departments
Project manager-responsible for temporary work project that involves people from various
functions and levels of organization
1st line manager-1st or 2nd level, directily responsible for over seeing groups of producing
employees
Functional manager-responsible for departments that perform single functions
Task general manager-responsible for several departments, perform different functions
Types of organizational structures
Types of reinforcements
Types of teams
Unity of command- Employees should have only one direct supervisor.
Unity of direction- Teams with the same objective should be working under the direction of one
manager, using one plan. This will ensure that action is properly coordinated.
utilitarian approach-method of ethical decision making saying that the ethical choices is the one
that produces the greatest good for the greatest number
Values statement
Work specialization- is the degree to which organizational tasks are subdivided into individual
jobs; also called division of labor, Must match need for efficiency and other related factors.