Study mgmt. Flash Cards

 
Pile Management Card
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32.) Shareholders vs. Stakeholders
— Stakeholder: persons, groups, and institutions directly affected by an organization.
— Shareholder: owners of a corporation.
35.) Customer Relationship Management
— Definition: strategically tries to build lasting relationships with customers and to add value to customers.
34.) Competitive Advantage
— Definition: something you do better than the competitors; hard to duplicate or copy; allows an organization to deal with market and environmental forces better than its competitors.
33.) Strategic Positioning
— Definition: where you want to be in the marketplace; results in an organization doing different things or the same things in different ways from its competitors.
31.) Eight External Environmental Factors to Management
— 1.) Economic – buying habits of general public
— 2.) Legal/Political—effects of laws; US has stable legal/political environment.
— 3.) Technological—advancements in technology changes scope of business.
— 4.) Socio-cultural (Labor)—education, sills, expectations of workforce.
— 5.) Natural Environment (Resources)—how to manage.
— *6.) Competitive Environment—how to respond to competition from other firms.
— *7.) Globalization—not only increased competition, but comes from all over world where some things may be able to be done cheaper or better.
— *8.) Customers—fragmented niches, quality expectations, amount of money.
30.) Sustainability
— Definition: both meets the needs of customers and protects the well-being of our natural environment.
— Example: companies going carbon neutral, green facilities, etc.
29.) Using Scientific Methods to Solve Work-Related Problems is…
— EVIDENCE-BASED MANAGEMENT.
— Evidence Based Management: involves making decisions based on hard facts about what really works.
28.) Resource Management and Knowledge Management
— Resource Management: the process of using a company’s resources in the most efficient way possible.
— Knowledge Management: the process of using intellectual capital for competitive advantage.
27.) Father of Quality Management, or TQM
— W. Edwards Deming.
26.) System
— Definition: a collection of interrelated parts working together for a purpose.
25.) Different Styles of Management (Who and What)
— Classical Management: breaks down into 3 subcategories → scientific management, administrative principles, and bureaucratic organization.
o 1.) Scientific Management: Fredrick W. Taylor started this approach; goal was to improve workplace productivity, conducted motion studies → came up with four guiding action principles: a.) develop for every job a science that includes rules of motion, standardized work implements, and proper working conditions; b.) carefully select workers with the right abilities for the job; c.) carefully train workers to do the job and give them the proper incentives to cooperate with the job “science.”; d.) support workers by carefully planning their work and by smoothing the way as they go about their jobs. Involved time-motion studies.

o 2.) Administrative Principles: Henri Fayol started this approach; identifies five rules or duties of management. These were foresight, organization, command, coordination, and control. Fayol believed management could be taught and was very concerned about improving the quality of management.

o 3.) Bureaucratic Organization: Mark Weber, a German intellectual, started this theory. His ideas developed in reaction to his belief that organizations of his day often failed to reach their performance potential. Weber was concerned that people were in positions of authority not because of their job-related capabilities, but because of their social standing or “priviledged” status in German society. Weber believed in a specific form of organization he believed could correct all the problems just described—a bureaucracy. The defining characteristics of Weber’s bureaucratic organization are CLEAR DIVISION OF LABOR, CLEAR HIERARCHY OF AUTHORITY, FORMAL RULES AND PROCEDURES, IMPERSONALITY, and CAREERS BASED ON MERIT.

— Behavioral Management Approaches: include Follett’s Organizations as communities, the Hawthorne Studies, Maslow’s Theory of Human Needs, McGregor’s Theory X and Theory Y, and Argyris’s Theory of Adult Personality.
o 4.) Follet’s Organizations as Communities: Mary Parker Follett started this approach. She was part of the transition from classical thinking to behavioral management. Viewed organizations as communities where managers and workers should labor in harmony with each working together effectively. Groups are mechanisms where diverse individuals could combine talents for the greater good; she thought the manager’s responsibility was to foster cooperation. Follett believed making every employee an owner would create feelings of collective responsibility.
o 5.) The Hawthorne Studies: studies led by the Western Electric Company to conduct research on individual productivity at the Hawthorne Works of the firm’s Chicago plant. Illumination example given in class → workers given better light in thought that they would perform better, and they did, however they also performed better under worse lighting conditions than the original conditions due to feelings of being “special” for having been chosen in the study. The studies brought visibility that people’s feelings, attitudes, and relationships with co-workers affected their work, and that groups were important influences on individuals. Led to the creation of the term HAWTHORNE EFFECT—the tendency of people who are singled out for special attention to perform as anticipated because of expectations created by the situation. These studies contributed to the emergence of the human relations movement, which was based on the viewpoint that managers who used good human relations in the workplace would achieve productivity. Led to the practice of studying organizational behavior, which is the study of individuals and groups in organizations.

o 6.) Maslow’s Theory of Human Needs: this was the work of psychologist Abraham Maslow. He described a need as physiological or psychological deficiency a person feels to the compulsion to satisfy, suggesting that needs create tensions that can influence a person’s work attitudes and behaviors. Maslow’s theory is based on two underlying principles. The first is the deficit principle, which states a satisfied need is not a motivator for behavior; people act to satisfy deprived needs, those for which a satisfaction deficit exists. The second is the progression principle, which states the five needs exist in a hierarchy of “prepotency”. These five hierarchal needs are, in order from lowest level to highest, physiological needs (most basic of all human needs: food, water, etc.), safety needs (need for security, protection, and stability in the events of day-to-day life), social needs (need for love, affection, sense of belonging in one’s relationships with other people), esteem needs (need for esteem in the eyes of others; need for respect, prestige, recognition; need for self-esteem, personal sense of competence and mastery), and self-actualization needs (highest level: need for self-fulfillment; to grow and use abilities to fullest and most creative extent). According to Maslow, people try to satisfy these five needs in sequence. Unlike other needs, the more self-actualization needs are satisfied, the more they continue to grow—the deficit and progression principles cease to apply. Maslow’s theory implies that managers who understand and help people satisfy their important needs at work will achieve productivity.
o 7.) McGregor’s Theory X and Theory Y: Douglas McGregor started this view. He called for managers to shift their view of human nature away from a set of assumptions he called “Theory X” to ones he called “Theory Y”. Theory X is when managers believe those who work for them are no good—lazy, lack ambition, irresponsible, resistant to change, and prefer to be led rather than lead. Theory Y is when managers believe those who work for them are perfect—willing to work, capable of self-control, willing to accept responsibility, imaginative and creative, and capable of self direction. McGregor says that managers with either of these views can experience self-fulfilling prophecies. Theory X managers will be too controlling and not understanding, and will drive their workers to frustration and ineptness. Theory Y managers will let their workers develop into more job involvement, responsibility, and freedom and may reach self-actualization in that resulting in much greater gains in productivity.

o 8.) Argyris’s Theory of Adult Personality: Chris Argyris started this view. Concluded that some practices, especially those influenced by the classical management approaches, are inconsistent with the mature adult personality. He believed that managers who treat people positively and as responsible adults will achieve the highest productivity. His advice is to expand job responsibilities, allow more task variety, and adjust supervisory styles to allow more participation and promote better human relations. He also believes that the common problems of employee absenteeism, turnover, apathy, alienation, and low morale may be signs of a mismatch between management practices and mature adult personalities.
23.) Managerial Competence
— 1.) Communication
— 2.) Teamwork
— 3.) Self-management
— 4.) Leadership
— 5.) Critical Thinking/Creativity
— *6.) Professionalism
— *7.) Integrity
— Numbers 6 and 7 were given in class, good chance to be on test.
22.) IQ and EQ
— IQ is a measure of intelligence.
— EQ is the ability to manage ourselves and our relationships effectively; stands for “emotional quotient”.
21.) Minceberg’s Three Roles of Management
— 1.) Interpersonal: figurehead, leader, liaison.
— 2.) Informational: monitor, disseminate, spokesperson.
— 3.) Decisional: entrepreneurial, creative, innovative, proactive.
20.) Four Traditional Functions of Management
— 1.) Planning: process of setting objectives and determining what should be done to accomplish them.
— 2.) Organizing: process of assigning tasks, allocating resources, and coordinating work activities.
— 3.) Leading: process of arousing enthusiasm and inspiring efforts to achieve goals.
— 4.) Controlling: the process of measuring performance and taking action to ensure desired results.
— Leading is an ART.
— Planning, Organizing, Controlling are SCIENCES
19.) Types of Managers
.) Line Managers: directly contribute to producing the organization’s goods or services; directly over the line workers.
— 2.) Staff Managers: use specialized technical expertise to advise and support line workers.
— 3.) Functional Managers: are responsible for one area such as finance, marketing, production, personnel, accounting, or sales.
— 4.) General [Middle] Managers: responsible for complex, multifunctional units.
— 5.) Team Leader: makes sure a team works together to accomplish a task but has no fire/boss authority for leverage to make sure tasks are completed.
— 6.) Administrator: a manager in a public or non-profit organization.
— 7.) C-suite: CEO, CFO, COO; very top management.
18.) Efficiency
— Definition: is an input measure of resource cost associated with good accomplishment; MIN-IN→MAX-OUT theory.
17.) Productivity
— Definition: is the quantity and quality of work performance, with resource utilization considered.
16.) Discrimination
— Definition: actively denies minority members the full benefits of organizational membership.
15.) Prejudice
— Definition: is the display of negative, irrational attitudes toward members of diverse populations.
14.) Workplace Diversity
— Definition: describes differences among workers in gender, age, ethnicity, religion, sexual orientation, and able-bodiedness.
13.) Workplace Spirituality
— Definition: creates meaning and shared community among organizational members; shared community with diversity of values which are all respected.
12.) Culture—Observable vs. Invisible
— Observable: clothes, heroes, trends → easily discernable, visible on surface.
— Invisible: unspoken rules, seniority, etc. → not readily apparent to outsiders, but you are expected to know.
11.) Environmental Uncertainty
— Definition: some part of environment you are unsure of; a lack of complete information about the environment.
— Example: Hard to plan for, or expect, natural disasters or worker strikes.
10.) Culture
— Definition of Organizational Culture: the system of shared beliefs and values that guides behavior in organizations.
— Broad Definition of Culture: a shared, learned, symbolic system of values, beliefs, and attitudes that shapes and influences perception and behavior—an abstract “mental blueprint” or “mental code”.
9.) Microlending
— Definition: small loans to individual entrepreneurs.
— Typically made to those in 3rd world countries.
— Grameen Bank started.
— Typically amounts of $2,000-3,000.
— In the United States the SBA (Small Business Administration) has begun this practice, however due to higher costs of an upstart in the US, the loans start out at $13,000.
— Grameen Bank’s repayment rate is 98%.
8.) Situational Thinking
— Also known as contingency thinking.
— Definition: tries to match management practices with situational demands.
— Tries to match managerial responses with the problems and opportunities specific to different settings, particularly those posed by individual and environmental differences. There is no expectation that one can or should find the “one best way” to manage in all circumstances, rather the contingency perspective tries to help managers understand situational differences and respond to them in ways appropriate to their unique characteristics
7.) Four Learning Styles
— A.) Accomodator: likes hands-on activities; learns by doing!
— B.) Diverger: likes imaging; learns by observing!
— C.) Converger: likes to experiment; learns by problem solving!
— D.) Assimilator: likes logical reasoning; learns by information--being told what to do!
— Different people learn in different ways; every person a manager deals with is unique → need different approaches to get desired result from different people.
— Most problem situations are complex, and things are always changing; success only comes to managers who thrive on learning
6.) Skill
— Definition: the ability to translate knowledge into action that results in desired performance.
5.) Upside-down Pyramid
— Reverse flow from typical management pyramid structure
— Operating workers are at the top of the upside down pyramid just below the customers and clients they serve. They are supported in their work efforts by managers below them. These managers clearly aren’t just order-givers; they are there to mobilize and deliver the support others need to do their jobs best and serve customer needs.
— *The upside down pyramid view leaves no doubt that the whole organization is devoted to serving the customer, and that the job of managers is to support the workers.
4.) Glass Ceiling Effect
— An invisible barrier limiting career advancement of women and minorities.
3.) Intellectual Capital
— The collective brainpower or shared knowledge of a workforce.
2.) Future Shock
— Book written in 1970 by sociologist Alvin Toffler.
— Toffler’s shortest definition of “future shock” is a personal perception of “too much change in too short a period of time”.
— *Professor Ford said key idea is:
o Pace of Change
o Change is inevitable
1.) What Happens to You is up to You is an example of what?
— Locus of control: the extent to which one feels he has control over his or her own life.
— This is an example of internal locus of control → you control your destiny; your motivation to succeed comes from within.
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