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166 Cards in this Set
- Front
- Back
Management |
The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organization's resources |
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Efficient |
To use resources wisely and cost-effectively |
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Effective |
To achieve results, to make the right decisions and to successfully carry them out so that they achieve the organization's goal |
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Planning |
Set goals and decide how to achieve them |
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Organizing |
Arrange tasks, people, other resources, to accomplish the work |
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Leading |
Motivating and influencing people to work hard and achieve goals |
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Controlling |
Monitoring performance, taking correctice action |
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POLC |
Planning, organizing, leading, controlling |
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Competitive advantage |
The ability of an organization to produce goods or services more effectively than competitors do |
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Sustainability |
Economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs |
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Technical skills |
The job-specific knowledge needed to perform well in a specialized field |
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Conceptual skills |
The ability to think analytically, to visualize an organization as a whole and understand how the parts work together |
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Human skills |
-The ability to work well in cooperation with other people to get things done -the ability to motivate, to inspire trust, to communicate with others |
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Interpersonal roles |
Managers interact with people inside and outside their work units |
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Informational roles |
Managers receive and communicate information |
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Decisional roles |
Managers use information to make decisions to solve problems or take advantage of opportunities |
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Entrepreneurship |
Process of taking risk to try and create and new empire |
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Intrapreneur |
Someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organization's resources to try and realize it |
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Classical viewpoint |
Emphasis on ways to manage work more efficiently |
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Behavioral viewpoint |
Understanding human behavior and motivating and encouraging employees toward achievement |
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Quantitative viewpoint |
Applies quantitative techniques to management |
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Scientific management |
Emphasized the scientific study of work methods to improve the productivity of individual workers |
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Administrative management |
Concerned with managing the total organization |
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Bureaucracy |
A rational, efficient, ideal organization based on the principles of logic |
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Hawthorne effect |
Employees worked harder if they recieved added attention, thought that managers cared about their welfare and that supervisors paid special attention to them |
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Theory X |
Workers are irresponsible, resistant to change, lack ambition, hate work, and want to be led |
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Theory Y |
Workers are considered capable of accepting responsibility, self-direction, self control and being creative |
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Systems Viewpoint |
Regards the organization as a system of interrelated parts |
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Contingency Viewpoint |
Emphasizes that a a manager's approach should vary according to the individual and the environmental situation |
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Evidence-based management |
Translating principles based on best evidence into organizational practice, bringing rationality to the decision making process |
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Triple bottom line |
Profit People Planet |
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Ethics |
Utilitarian Individualism Moral Rights Justice |
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Internal stakeholders |
Consist of employees, owners, and the board of directors |
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Ethical dilemmas |
When choices, although having potential for personal and/or organizational benefit, may be considered unethical |
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Social responsibility |
Manager's duty to take actions that will benefit the interestd of society as well as of the organization |
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Corporate social responsibility (CSR) |
The idea that corporations are expected to go above and beyond following the law and making a profit |
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Globalization |
The trend of the world economy toward becoming a more independent system |
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Multinational Corporation |
Business firm with operations in several countries |
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Ethnocentric |
Their native country, culture, language, and behavior are superior to all others |
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Polycentric |
Take the view that native managers in the foreign offices best understand native personnel and practices, and so the home offices should leave them alone |
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Geocentric |
Accept that there are differences and similarities between home and foreign personnel and practices and that they should use whateber techniques are most effective |
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Importing |
A company buys goods outside the country and resells them domestically |
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Exporting |
A company produces goods domestically and sells then outside the country |
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Licensing |
A company allows a foreign company to pay it a fee to make or distribute the firm's product or service |
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Franchising |
A compnay allows a foreign company to pay it a fee and a share of the profits in return for using the company's brand name and a package of materials and services |
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Joint ventures |
Formed with a foreign company to share the risks and rewards of starting a new enterprise together in a foreign country |
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Wholly-owned subsidiary |
Foreign subsidiary that is totally owned and controlled by an organization |
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Time orientation |
Monochronic Polychronic |
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Monochronic |
Preference for doing one thing at a time |
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Polychronic |
Preference for doing more than one thing at a time |
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Expatriates |
Americans living or working in a foreign country |
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Uncertainty avoidance |
The extent to which a society relies on social norms and procedures to allievate the unpredictability of future events |
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Planning |
Coping with uncertainty by formulating future courses of action to achieved specified results |
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Strategy |
A large-scale action plan that sets the direction for an organization |
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Mission statement |
Expresses the purpose of the organization |
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Vision statement |
It is a clear sense of the future and the actions needed to get there |
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Strategic planning |
Long-term decisions about overall direction of organization; 1-5 years |
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Tactial planning |
Implement policies and plans of top management, supervise, and coordinate activities of first-line managers below, make decisions often without base of clearly defined information procedures; 6-24 months |
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Operational planning |
Direct daily tasks of nonmagerial personnel; 1-52 weeks |
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Standing plan |
For activities that occur repeatedly over a period of time |
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Single-use plan |
For activities not likely to be repeated in the future |
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Management by Objectives (MBO) |
1. Managers and employees jointly set objectives 2. Managers develop action plans 3. Managers and employeess periodically review the employees' performance 4. The manager makes a performance appraisal and rewards the employee according to results |
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Sustainable competitive advantage |
The ability to produce goods or services more effectively than its competitors do |
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The 5 steps of Strategic-Management Process |
1. Establish the mission vision and values statement 2. Assess the current reality 3. Formulates the grand strategy 4. Implement the strategy 5. Maintain strategic control |
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Competitive Intelligence |
Gaining information about competitors' activities so that you can anticipate their moves and react appropriately |
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SWOT analysis |
Strengths Weaknesses Opportunities Threats |
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Forecast |
A vision or projection of the future |
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Trend analysis |
Hypothetical extension of a past series of events into the future |
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Benchmarking |
A process by which a comoany compares its performance with that of high-performing organizations |
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Porter's Five Competitive Forces |
1. Threat of new entrants 2. Bargaining power of suppliers 3. Bargaining power of buyers Threat of substitute products or services 4. Rivalry among competitors |
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Growth strategy |
Involves expansion |
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Stability |
Involves little or no significant change |
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Defensive |
Involves reduction in the organization's efforts |
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Porter's 4 competitive strategies |
Cost-leadership Differentiation Cost-Focus Focused-differentiation |
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BCG Matrix |
A means of evaluating strategic business units on the basis of (1) their business growth rates and (2) their shares of the market |
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Rational Decision Making |
1. Identify the problem or opportunity 2. Think up alternative solutions 3. Evaluate alternatives and select a solution 4. Implement and evaluate the solution chosen |
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Decision making |
Process of identifying and choosing alternative courses of action |
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Bounded rationality |
Suggests that the ability of decision makers to be rational is limited by numerous constraints |
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Nonrational decision making |
Assume that decision making is nearly always uncertain and risky, making it difficult for managers to make optimal decisions |
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Satisficing model |
Managers seek alternatives until they find one that is satisfactory, not optimal |
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Intuition |
Making a choice without the use of conscious thought or logical inference |
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Groupthink |
Occurs when group members strive to agree for the sake of unanimity and thus avoid accurately assesing the decision situation |
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Brainstorming |
Technique used to help groups generate multiple ideas and alternatives for solving problems |
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Decision-making style |
Reflects the combination of how an individual percieves and responds to information |
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Organizational culture |
The set of shared, taken-for-granted implicit assumptions that a group holds and that determines how it perceives, thinks about, and reacts to its various environments |
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Clan |
Cohesion, participation, communication, empowerment |
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Adhocracy |
Adaptability, creativity, agility |
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Hierarchy |
Capable processes, consistency, process control, measurement |
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Market |
Customer focus, productivity, enhancing competitive |
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Symbol |
An object, act, quality, or event that conveys meaning to others |
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Story |
Narrative based on true events, which is repeated to emphasize a particular value |
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Hero |
Person ehose accomplishments embody the values of the organization |
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Rites and rituals |
Activities and ceremomies, planned and unplanned, that celebrate importsnt occasiond and accomplishments in the organization's life |
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Organization chart |
Box-and-lines illustration showing the formal lines of authority and the organization's official positions or work specializations |
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Responsibility |
Obligation you have to perform the tasks assigned to you |
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Delegation |
Process of assigning managerial authority and responsibility to managers and employees lower in the hierarchy |
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Authority |
Rights imherent in a managerial position to make decisions and utilize resources |
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Span of control |
Refers to the number of people reporting directly to a given manager |
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Centralized authority |
Important decisions are.made by higher-level managers |
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Decentralized authority |
Important decisions are made by middle-level and supervisory-level managers |
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Simple structure |
Authority is centralized in a single person with few rules and low work specialization |
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Functional structure |
People with similar occupational specialites are put together in formal groups |
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Divisional structure |
People.with diverse occupational specialities are out together in formal groups by simliar products, customers or geographic regions |
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Matrix structure |
An organization combines functional and divisional chains of command in a grid so that there are two command structures-vertical and horizontal |
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Human resource management (HRM) |
Consists of the activites managers perform to plan for, attract, develop, and retain an effective workforce |
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Job analysis |
Determining the basic elements of a job by observation and analysis |
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Job description |
Summarizes what the holder of the job does and how and why he or she does it |
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Job specification |
Describes the minimum qualifications a person must have to perform a job successfully |
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Recruitment |
Process of locating and attracting qualified applicants for jobs open in the organization |
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Realistic job preview |
Gives a candidate a picture of both the positive and negative features of the job and the organization before joining a firm |
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Unstructured interview |
-No fixed set of questions and no systematic scoring procedure -Involves asking probing questions to find out what the applicant is like |
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Situational interview |
Focuses in hypothetical situations |
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Behavioral interview |
Explore what applicants have actually done in the past |
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Ability tests |
Measure physical abilites, strength and stamina, mechanical ability, mental abilities, and clerical abilities |
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Performance test |
Measure performance on actual job tasks |
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Personality tests |
Measure such personality traits as adjustment, energy, sociability, independence, and need for achievement |
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Integrity tests |
Assess attitudes and experiences related to a person's honesty, dependability, trustworthiness, reliability, nd prosocial behavior |
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Other tests |
Drug, polygraph, genetic screening |
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Onboarding |
Programs that help employees to integrate and transition to new jobs |
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Orientation |
Helping the newcomer fit smoothly into the job and the organization |
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Performance Appraisal |
Define Performance Monitor and Evaluate performance Review performance Provide consequences |
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Title VII of Civil Rights Act: workplace discrimination |
Prohibits discrimination om basis of race, color, religion, national origin, or sex |
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Organizational Behavior |
Tries to help managers not only explain workplace behavior but also predict it, so that they can better lead and motivate their employees to perform productively |
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Values |
Abstract ideals that guide one's thinking and behavior across all situations |
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Attitude |
A learned predispostion toward a given object |
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Three components of attitudes |
Affective -Consists of feelings or emotions one has about a situation Cognitive -Beliefs and knowledge on has about a situation Behavioral -Refers to how one intends or expects to behave toward a situation |
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Cognitive dissonance |
The psychiological discomfort a person experiences between his or her cognitive attitude and incompatible behavior |
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The Big Five Personality Dimensions |
Extroversion Agreeableness Emotional Stability Conscientiousness Openness to Experience |
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Self-efficacy |
Belief in one's ability to do a task |
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Self-Esteem |
The extent to which people like or dislike themselves |
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Locus of Control |
Indicates how much people believe they control their fate through their own efforts |
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Emotional intelligence |
Ability to monitor your and others' feelings and to use this information to guide your thinking and actions |
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Motivation |
The psychological processes that arouse and direct goal-directed behavior |
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Extrinsic rewards |
Payoffs a person recieves from others for performing a particular task |
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Intrinsic rewards |
Satisfaction a person recieves from performing the particular task itself |
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Content perspective |
Theories that empathize the needs that motivate people |
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Maslow's heirarchy of needs |
Physiological need (most basic) Safety need Love need Esteem need Self-actualization need |
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McClelland's Acquired Needs Theory |
Achievement Afflication Power |
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Herzberg Two-factor theory |
Propsed that work satisfaction and dissatisfaction arise from two different factors |
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Equity theory |
A model of motivation that explains how people strive for fairness and justice in social exchanges or give-and-take relationships |
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Expectancy Theory |
1. How much they want something 2. How likely they think they are to get it |
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Goal-setting theory |
Suggests that employers can be motivated by goals that are specific and challenging but achievable |
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Group |
Two or more freely interacting individuals who share norms, share goals, and have a common identity |
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Team |
Small group of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they gold themselves mutually accountable |
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Formal group |
Group assigned by organizations or its managers to accomplish specific goals |
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Informal group |
Group formed by people whose overriding purpose is getting together for friendship or a common interest |
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Self-managed teams |
Groups of workers who are given administrative oversight for their task domains |
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Virtual teams |
Work together over time and distance via electronic media to combine efforts and achieve common goals |
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Cross-functional teams |
Include members from different areas within an organization, such as finance, operations, and sales |
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Stages of Group and Team Development |
Forming Storming Norming Performing Adjourning |
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Group Cohesiveness |
Tendency of a group to stick together |
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Trust |
Reciprocal faith in others' intentions and behaviors |
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Social loafing |
The phenomenon of a person making fewer contributions to a group effort they would if they were solely charged with the responsibility |
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Task roles |
Consists of behavior that concentrates on getting the team's tasks done |
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Maintenance roles |
Consists of behavior that fosters constructive relationships among team members |
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Norms |
General guidelines or rules of behavior that most group or team members follow |
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Groupthink |
A cohesive group's blind unwillingness to consider alternatives |
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Devil's advocacy |
Assigning someone to play the role of critic to voice possible objections to a proposal and thereby generate critical thinking and reality testing |
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Leadership |
The ability to influence employees to voluntarily pursue organizational goals |
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Five sources of power |
Legitimate power Reward power Coercive power Expert power Referent power |
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Machiavellianism |
Displaying a cynical view of human nature and condones opportunistic and unethical ways of manipulating people, putting results over principles |
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Task-oriented leadership behaviors |
These ensure that people, equipment, and other resources are used in an efficient way to accomplish the mission |
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Relationship-oriented leadership |
Primarily concerned with the leader's interactions with his or her employees |
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Leader-member exchange theory |
Emphasizes that leaders have different sorts of relationships with different followers |
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Communication |
The transfer of information and understanding from one person to another |
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MBWA |
Management by wandering around |