1
Q
Management
A
process designed to achieve an organization’s objectives by using its resources effectively and efficiently in a changing environment
2
Q
Managers
A
make decisions about the use of the organization’s resources and are concerned with planning, organizing, directing, and controlling the organization’s activities so as to reach its objectives
3
Q
staffing
A
hiring people to carry out the work of the organization
4
Q
downsizing
A
elimination of significant numbers of employees from an organization
5
Q
planning
A
the process of determining the organization’s objectives and deciding how to accomplish them (FIRST FUNCTION OF MANAGEMENT)
6
Q
mission
A
a declaration of an organization’s fundamental purpose and basic philosophy
7
Q
goals
A
expressed in general terms and do not contain specific, quantifiable metrics of where the firm is now or where it is going
Ex. trained and creative employees
8
Q
objectives
A
measurable benchmarks that derive from the organization’s mission and goals
9
Q
key performance indicators (KPIs)
A
the specific and quantitative metrics that are measured, tracked, and analyzed to measure progress toward objectives
10
Q
strategic plans
A
establish the long-range objectives and overall strategy or course of action by which the firm fulfills its mission
11
Q
tactical plans
A
short range and designed to implement the activities and objectives in the strategic plan
12
Q
operational plans
A
very short term and specify what actions specific individuals, work groups, or departments need to accomplish in order to achieve the tactical plan, and, ultimately, the strategic plan
13
Q
crisis management (contingency planning)
A
deals with potential disasters such as product tampering, oil spills, fire, earthquake, computer viruses, pandemics, or even a reputation crisis due to unethical or illegal conduct by one or more employees
14
Q
organizing
A
structuring of resources and activities to accomplish objectives in an efficient and effective manner
15
Q
business model
A
relates to how a firm creates, delivers, and is organized to operate and provide value to stakeholders
16
Q
directing
A
motivating and leading employees to achieve organizational objectives
17
Q
controlling
A
process of evaluating and correcting activities to keep the organization on control
1. measuring performance
2. comparing present performance w/ standards or objectives
3. identifying deviations from the standards
4. investigating the causes of deviations
5. taking corrective action when necessary
18
Q
high-level managers
A
include the president and other top executives, such as the chief executive officer (CEO), chief financial officer (CFO), and chief operations officer (COO), who have overall responsibility for the organization
19
Q
middle mangers
A
responsible for tactical and operational planning that will implement the general guidelines established by high- level management
20
Q
front- line managers
A
those who supervise workers and the daily operations of the organization
21
Q
financial manager
A
focuses on obtaining the money needed for the successful operation of the organization and using that money accordance with organizational goals
22
Q
production and operations manager
A
develops and administers the activities involved in transforming resources into goods, services, and ideas ready for the marketplace
23
Q
human resources manager
A
handles the staffing function and deals with employees in a formalized manner
24
Q
marketing manager
A
responsible for planning, pricing, and promoting products and making them available costumers through distribution
25
information technology (IT) manager
responsible for implementing, maintaining, and controlling technology applications in business, such as computer networks
26
administrative manager
manages an entire business or major segment of a business; does not specialize in a particular function
27
technical expertise
the specialized knowledge and training required to perform jobs related to their area of management
28
conceptual skills
the ability to think in abstract terms, and to see how parts fit together to form the whole, are needed by all managers, but particularly high- level managers
29
analytical skills
the ability to identify relevant issues and recognize their importance, understand the relationships between them, and perceive the underlying causes of the situation
30
human relations skills
the ability to deal with people, both inside and outside the organization
31
leadership
the ability to influence employees to work toward organizational goals
32
autocratic leaders
make all the decisions and then tell employees what must be done and how to do it
33
democratic leaders
involve their employees in decisions
34
free- rein leaders
let their employees work without much interference
35
authentic leaders
depending upon how they conduct themselves among stakeholders (leads by example)
36
servant leaders
leaders that consider the needs of their employees and form strong relationships with stakeholders (focuses on needs of others before own)
37
employee empowerment
occurs when employees are provided with the ability to take on responsibilities and make decisions about their jobs
38
effective decision steps
1. recognizing and defining the decision situation
2. developing options to resolve the situation
3. analyzing the options
4. selecting the best option
5. implementing the decision
6. monitoring the consequences of the decision
39
brainstorming
a technique in which group members spontaneously suggest ideas to solve a problem, is a effective way to encourage creativity and explore a variety of options
40
agenda
contains both specific and vague items, covering short- term goals and long- term objectives
41
networking
building relationships and sharing info with colleagues who can help them achieve the items on their agendas
42
organizational culture
a firms shared values, beliefs, traditions, principles, rules, and role models for behavior
43
structure
the arrangement or relationship of positions within an organization
44
organizational chart
visual displays of organizational structure, chain of command, and other relationships
45
specialization
division of labor into small, specific tasks and the assignment of employees to do a single task
46
departmentalization
the grouping of jobs into working units usually called departments, units, or divisions
47
functional departmentalization
groups jobs that perform similar functional activities, such as finance, manufacturing, marketing, and human resources
48
product departmentalization
organizes jobs around the products of the firm
49
geographical departmentalization
groups jobs according to geographic location, such as state, region, country, or continent
50
customer departmentalization
arranges jobs around the needs of various types of customers
51
delegation of authority
not only giving tasks to employees but also empowering them to make commitments, use resources, and take whatever actions are necessary to carry out those tasks
52
responsibility
for employees to carry out assigned tasks satisfactorily and holds them accountable for the proper execution of their assigned work
53
accountability
employees who accept an assignment and the authority to carry it out are responsible to a superior for the outcome
54
centralized organization
authority is concentrated at the top, and very little decision- making authority is delegated to lower levels
55
decentralized organization
one in which decision- making authority is delegated as far down the chain of command as possible
56
span of management (2 types)
refers to the number of subordinates who report to a particular manager (wide and narrow)
57
organizational structure
the levels of management in an organization
58
line structure
direct lines of authority that extend from the top manager to employees at the lowest level of the organization
59
line- and- staff structure
traditional line relationship between superiors and subordinates, and specialized managers- are available to assist the line managers
60
restructure
change the basic structure of an organization
61
multidivisional structure
organizes departments into larger groups called divisions
62
matrix structure
sets up teams from different departments, thereby creating two or more intersecting lines of authority
63
group
two or more individuals who communicate with one another, share a common identity, and have a common goal
64
team
small group whose members have complementary skills; have a common purpose, goals, and approach; and hold themselves mutually accountable
65
committee
permanent formal group that does some specific task
66
task force
a temporary group of employees responsible for bringing about a particular change
67
project teams
similar to task forces, normally they run their operation and have total control of a specific work project
68
product development teams
special type of project team formed to devise, design, and implement a new product
69
quality- assurance teams (quality circles)
fairly small groups of workers brought together from throughout the organization to solve specific quality, productivity, or service problems
70
self- directed team (SDT)
group of employees responsible for an entire work process or segment that delivers a product to an internal or external costumer
71
grapevine
informal channel of communication, separate from management's formal, official communication channels
72
human relations
relations with or between employees and the behavior of individuals and groups in organizational settings
73
motivation
an inner drive that directs a person's behavior toward goals
74
morale
employees' attitudes toward their jobs, employers, and colleagues
75
intrinsic reward
personal satisfaction and enjoyment that you feel from attaining a goal
76
extrinsic rewards
benefits and/or recognition that you receive from someone else
77
classic theory of motivation
money is the sole motivator for workers
78
Hawthorne study goals
to connect productivity and work environment
79
Maslow's Hierarchy of needs
arranges needs into the order in which people need to satisfy them ((physiological needs (food and water), security needs (safety from physical and economic harm), social needs (friends, family), esteem needs (respect from yourself and others), self- actualization needs (being the best you can be))
80
motivational factors
relate to the content of the work itself, include achievement, recognition, involvement, responsibility, and advancement
81
theory X
assumes workers generally dislike work and must be forced to do their jobs
82
theory Y
assumes that workers like to work and that under proper conditions employees seek out responsibility in an attempt to satisfy their social, esteem, and self- actualization needs
83
theory Z
management philosophy that stresses participation in all aspects of company decision making
84
equity theory
how much people are willing to contribute to an organization depends on their assessment of the fairness, or equity, of the rewards they will receive in exchange
85
expectancy theory
states that motivation depends not only on how much a person wants something but also on the person's perception of how likely they are to get it
86
goal-setting theory
the impact that setting goals has on performance (motivate to perform goal outcomes)
87
behavior modification
involves changing behavior and encouraging appropriate actions by relating the consequences of behavior itself
88
reinforcement theory
theory that behavior can be strengthened or weakened through the use of rewards and punishments
89
job rotation
allows employees to move from one job to another in an effort to relieve the monotony that is often associated with job specialization
90
job enlargement
adds more tasks to a job instead of treating each task as separate
91
job enrichment
incorporates motivational factors, such as opportunity for achievement, recognition, responsibility, and advancement, into a job
92
flextime
a program that allows employees to choose their starting and ending times, as long as they are at work during a specified core period
93
compressed workweek
four- day (or shorter) period in which an employee works 40 hours
94
job sharing
when two people do one job
95
remote work
working arrangement in which employees do not commute or work in a central office
96
hybrid work
a flexible working arrangement that blends in-office and remote work
97
asynchronous work
flexible scheduling strategy that allows employees to set their own work hours and work independently from their colleagues
98
human resource management (HRM)
refers to all the activities involved in determining an organization's human resource needs, as well as acquiring, training, and compensating people to fill those needs
99
job analysis
determines, through observation and study, pertinent information about a job- the specific tasks that comprise it; the knowledge, skills, and abilities necessary to perform it; and the environment in which it will be performed
100
job description
formal, written explanation of a specific job that usually includes job title, tasks to be performed, relationship with other jobs, duties, etc.
101
job specification
describes the qualifications necessary for a specific job, in terms of education, personal characteristics, and physical characteristics
102
recruiting
forming a pool of qualified applicants from which management can select employees
103
selection
process of collecting information about applicants and using that information to decide which ones to hire
104
pre-employment assessments
tests given to job candidates by potential employers prior to hiring to determine whether an applicant has skills necessary for the job
105
the VII of the Civil Rights Act
of 1964 prohibits discrimination in employment based on race, color, religion, sex, and national origin
106
americans with disabilities act (ADA)
prevents discrimination against people with disabilities
107
age discrimination in employment act
specifically outlaws discrimination based on age
108
equal pay act
a labor law that prohibits wage discrimination based on sex
109
orientation
familiarizes the newly hired employees with fellow workers, company procedures, and the physical properties of the company
110
training
learn how to do specific job tasks
111
mentoring
involves supporting, training, and guiding an employee's professional development
112
development
training that augments the skills and knowledge of managers and professionals
113
turnover
when employees quit or are fired and must be replaced by new employees
114
promotion
advancement to a higher- level job with increased authority, responsibility, and pay
115
transfer
move to another job within the company at essentially the same level and wage
116
separations
occur when employees resign, retire, are terminated, or are laid off
117
direct financial compensation
wages, commission, salary, bonuses, and profit sharing
118
indirect financial compensation
child care, discounts, retirement plans
119
non- monetary compensation
free food, flexible schedules, remote work policies
120
wage salary survey
tells the company how much compensation comparable firms are paying for specific jobs that the firms have in common
121
wages
financial rewards based on the number of hours the employees works or the level of output achieved
122
commission
pays a fixed amount or a percentage of the employee's sales
123
salary
financial reward calculated on a weekly, monthly, or annual basis
124
bonuses
for exceptional performance as an incentive to further increase productivity
125
profit sharing
distributes a percentage of company profits to the employees whose work helped to generate those profits
126
benefits
forms of compensation provided to employees that are not part of an employee's wages
127
labor unions
deal with employers and to achieve better pay, hours, and working conditions
128
129
collective bargaining
the negotiation process through which management and unions reach an agreement about compensation, working hours, and working conditions for the bargaining unit
130
labor contract
formal, written document that spells out the relationship between the union and management for a specified period of time
131
picketing
public protest against management practices and involves union members marching at the employer's plant or work site
132
strikes
employee walkouts, most effective labor weapons
133
boycott
attempt to keep people from purchasing the products of a company
134
lockout
management closes a work site so that employees cannot go to work
135
strikebreakers
by striking union members, are people hired by management to replace striking employees
136
conciliation
brings in a neutral third party to keep labor and management talking
137
mediation
involves bringing in a neutral third party, but the mediator's role is to suggest or propose a solution to the problem
138
arbitration
a neutral third party is brought in to settle the dispute, but the arbitrator's solution is legally binding and enforceable
139
MIE 201
flashcards
Decks in class (9)
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