Mgt 300 Exam 3

Front 1

business plan

Back 1

is a document that outlines a proposed firm's goals, the strategy for achieving them, and the standards for measuring success

Front 2

strategy

Back 2

is a large scale action plan that sets the direction for an organization

Front 3

strategic management

Back 3

is a process that involves managers from all parts of the organization in the formulation and the implementation of strategies and strategic goals

Front 4

strategic planning

Back 4

determine what the organization's long term goals should be for the next 1-5 years with the resources they expect to have available

Front 5

3 reasons why strategic management and strategic planning should be adopted

Back 5

1. provide direction and momentum
2. encourage new ideas
3. develop a sustainable competitive advantage

Front 6

Michael Porter

Back 6

Harvard Business School professor; "most important strategist working today"

Front 7

strategic positioning

Back 7

attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company

Front 8

9 traits that make great employees outstanding

Back 8

1. a little bit "off"
2. know when to reel it in
3. ignore job descriptions
4. eager to prove others wrong
5. praise in public
6. complain in private
7. start work on time
8. tinker
9. ask questions for others

Front 9

a little bit "off" (9 traits that make great employees outstanding)

Back 9

bring some variety into your organization
stretch boundaries

Front 10

know when to reel it in (9 traits that make great employees outstanding)

Back 10

finding balance;
there's a time and place for everything

Front 11

ignore job descriptions (9 traits that make great employees outstanding)

Back 11

avoid the "not my department" mentality
*Neck working at Walmart example

Front 12

eager to prove others wrong (9 traits that make great employees outstanding)

Back 12

Education, intelligence, talent, skill may not beat out drive

Front 13

praise in public (9 traits that make great employees outstanding)

Back 13

the power of recognition

Front 14

complain in private (9 traits that make great employees outstanding)

Back 14

bringing a sensitive issue to you in private may avoid a firestorm;
have a unified front
**Saving Private Ryan example**

Front 15

start work on time (9 traits that make great employees outstanding)

Back 15

start working when the workday starts

Front 16

tinker (9 traits that make great employees outstanding)

Back 16

great employees follow processes;
outstanding;
hire someone that's smarter than you

Front 17

ask questions for others (9 traits that make great employees outstanding)

Back 17

if someone's hesitant and have concerns but too afraid to ask, ask for them

Front 18

Dave Vogt

Back 18

Southwest airlines recruiter/interviewer

Front 19

Sears example

Back 19

mom scheduled portrait; checked appt to confirm; got to store and had employee tell her it was canceled; told police would be called

Front 20

Dominos video example

Back 20

video of workers putting food up their nose etc; know who you're hiring

Front 21

Auto Body World example

Back 21

car steering wasn’t working right so they took it back and a person from auto body world called for a survey and was just trying to ask the questions even though she was just dropping the car back off again

Front 22

Chef Chiang

Back 22

restaurant in Chandler; waitress told the group "these are big portions" and "i dont think you will finish that"; very nice and playful

Front 23

Van Halen example

Back 23

known as premodanas because they had in their contract that there had to be a bowl of M&Ms and absolutely no green ones; did this because if the venue didn't get that right, the sound, lighting, etc was probably off too

Front 24

Jean Brooks

Back 24

Don't live your life based on what other people might think. You'll never make them or yourself happy

Front 25

Power

Back 25

The ability to influence decisions;
the ability to get things done the way one wants them to be done;
9 sources of power

Front 26

9 sources of power

Back 26

reward power
coercive power
legitimate power
referent power
expert power
uncertainty reduction
resource/info control
substitutability
centrality

Front 27

reward power (9 sources of power)

Back 27

as is

Front 28

coercive power (9 sources of power)

Back 28

punishment
only effective for a short period of time

Front 29

legitimate power (9 sources of power)

Back 29

position of power
example: cop, CEO, etc

Front 30

referent power (9 sources of power)

Back 30

respective power
example: mentors

Front 31

expert power (9 sources of power)

Back 31

if you're really good at something
very important;
can only earn it
example: i put full faith in Danilo cuz hair is what he does and is great at

Front 32

uncertainty reduction (9 sources of power)

Back 32

as is

Front 33

resource/info control (9 sources of power)

Back 33

Neck's coworker that knew a lot about computers kept a lot of knowledge to himself because he has the knowledge power

Front 34

substitutability (9 sources of power)

Back 34

not easily replaceable

Front 35

centrality (9 sources of power)

Back 35

as is

Front 36

Shawshank redemption example

Back 36

Morgan Freeman's character had a lot of power

Front 37

What is a group?

Back 37

2 or more people who interact with each other to accomplish certain goals or fulfill certain needs

Front 38

What is a team?

Back 38

a group whose members work intensely with one another to achieve a shared goal or objective;
**biggest difference is INTENSITY

Front 39

Positives of groups

Back 39

enhance performance;
improved creativity;
enhanced diversity

Front 40

Scent of a Woman example

Back 40

objective was to teach girl how to tango;
Frank (blind), donna, charlie, and the band are all members of the group

Front 41

Apollo 13 example

Back 41

had to fix CO2 filter with random gear; showed teamwork

Front 42

Village of 100 3rd edition example

Back 42

shown to emphasize how diverse we are;
studies show that the more diverse a group is, the better the outcome

Front 43

Negatives of groups

Back 43

pressures to conform
pressures to perform at group mean level

Front 44

Dead Poets Society example

Back 44

everyone walking/striding; person didn't want to participate;
displayed the pressure to conform

Front 45

TeamThink

Back 45

balancing the "me" with the "we";
putting your ideas out there but being able to compromise to collaborate (my words)

Front 46

Mr 3000 example

Back 46

Bernie Mac is baseball player;
balanced 'me' with 'we' because he bunted for the team instead of going for this 3000th base hit

Front 47

Communication

Back 47

the transferring and understanding of meaning;
number 2 on importance of good marriages

Front 48

Short Snout Organization

Back 48

purpose: pig awareness
founded by Jack Tate
founded in South Carolina in 1984
350 members
$50 to join
$25,000 raised on the chamber of commerce
founder of club owns infant apparel store

Front 49

5 levels of listening

Back 49

ignoring
pretending to listen
selective listening
attentive listening
active listening

Front 50

selective listening

Back 50

only listen to some of what is said

Front 51

attentive listening

Back 51

listening and there the whole time

Front 52

active listening

Back 52

completely there but also trying to understand where the person is coming from

Front 53

Father of the Bride example

Back 53

Steve Martin played dad to newly engaged daughter;
Steve martin was selective listening because the man's hand on his daughter's knee was distracting him

Front 54

Slumdog Millionare example

Back 54

didn't actually show, but it was shown to show teamwork/groupwork

Front 55

Grand Strategy 171

Back 55

after an assessment of current organizational performance, then explains how the organization's mission is to be accomplished. Three common grand strategies are: growth, stability, and defensive.

Front 56

The Growth Strategy 172

Back 56

is a grand strategy that involves expansion -- as in sales revenues, market share, number of employees, or number of customers or (for nonprofits) clients served

Front 57

The Stability Strategy 172

Back 57

is a grand strategy that involves little or no significant change

Front 58

The Defensive Strategy 172

Back 58

AKA a retrenchment strategy;
is a grand strategy that involves reduction in the organization's efforts

Front 59

Strategy formulation 173

Back 59

is the process of choosing among different strategies and altering them to best fit the organization's needs

Front 60

Strategy implementation 173

Back 60

putting strategic plans into effect

Front 61

Strategic control 173

Back 61

consists of monitoring the execution of strategy and making adjustments, if necessary

Front 62

Competitive intelligence 174

Back 62

means gaining information about one's competitors' activities so that you can anticipate their moves and react appropriately

Front 63

Environmental scanning 174

Back 63

careful monitoring of an organization's internal and external environments to detect early signs of opportunities and threats that may influence the firm's plans

Front 64

SWOT analysis 174

Back 64

AKA situational analysis
which is a search for the Strengths, Weaknesses, Opportunities, and Threats affecting the organization

Front 65

Organizational strengths 175

Back 65

the skills and capabilities that give the organization special competencies and competitive advantages in executing strategies in pursuit of its mission

Front 66

Organizational weaknesses 176

Back 66

the drawbacks that hinder and organization in executing strategies in pursuit of its mission

Front 67

Organizational opportunities 176

Back 67

environmental factors that the organization may exploit for competitive advantage

Front 68

Organizational threats 176

Back 68

environmental factors that hinder an organization's achieving a competitive advantage

Front 69

Forecast 177

Back 69

is a vision or projection of the future

Front 70

Trend analysis 177

Back 70

is a hypothetical extension of a past series of events into the future

Front 71

Contingency planning 177

Back 71

AKA scenario planning and scenario analysis
is the creation of alternative hypothetical but equally likely future conditions

Front 72

Porter's model for industry analysis 179

Back 72

business-level strategies originate in 5 primary competitive forces in the firm's environment:
1. threats of new entrants
2. bargaining power of suppliers
3. bargaining power of buyers
4. threats of substitute products of services
5. rivalry among competitors

Front 73

Porter's 4 competitive strategies 180

Back 73

AKA 4 generic strategies
1. cost-leadership
2. differentiation
3. cost-focus
4. focused-differentiation

Front 74

Cost-leadership strategy 180

Back 74

is to keep the costs, and hence prices, of a product or service below those of competitors and to target a wide market

Front 75

Differentiation strategy 181

Back 75

is to offer products or services that are of unique and superior value compared with those of competitors but to target a wide market

Front 76

Cost-focus strategy 181

Back 76

is to keep the costs, and hence prices, of a product or service below those of competitors and to target a narrow market

Front 77

Focused-differentiation strategy 181

Back 77

is to offer products or services that are of unique and superior value compared to those of competitors and to target a narrow market

Front 78

Single-product strategy 181

Back 78

where a company makes and sells only one product within its market

Front 79

Diversification 182

Back 79

operating several businesses in order to spread the risk

Front 80

Unrelated diversification 182

Back 80

operating several businesses under one ownership that are not related to one another

Front 81

related diversification 182

Back 81

an organization under one ownership operates separate businesses that are related to one another

Front 82

Synergy 183

Back 82

the economic value of separate, related businesses under one ownership and management is greater together than the businesses are worth separately

Front 83

BCG matrix 183

Back 83

is a means of evaluating strategic business units on the basis of:
1. their business growth rates
2. their share of the market

Front 84

Execution 184

Back 84

is not simply tactics, it is a central part of any company's strategy. It consists of using questioning, analysis, and follow-through to mesh strategy with reality, align people with goals, and achieve results promised

Front 85

Reactive change 310

Back 85

making changes in response to problems or opportunities as they arise

Front 86

Proactive change 311

Back 86

AKA planned change
involves making carefully thought-out changes in anticipation of possible or expected problems or opportunities

Front 87

Technology 313

Back 87

isn't just computer technology; it is any machine or process that enables an organization to gain a competitive advantage in changing materials used to produce a finished product

Front 88

Organizational development (OD) 315

Back 88

is a set of techniques for implementing planned change to make people and organizations more effective

Front 89

Change agent 315

Back 89

a consultant with a background in behavioral sciences who can be a catalyst in helping organizations deal with old problems in new ways

Front 90

Intervention 316

Back 90

is the attempt to correct the diagnosed problems

Front 91

Creativity 318

Back 91

the process of developing something new or unique

Front 92

Seeds of innovation 319

Back 92

the starting point for organizational innovation

Front 93

Product innovation 320

Back 93

is a change in the appearance or the performance of a product or a service or the creation of a new one

Front 94

Process innovation 320

Back 94

is a change in the way a product or service is conceived, manufactured, or disseminated

Front 95

incremental innovations 320

Back 95

the creation of products, services, or technologies that modify existing ones

Front 96

Radical innovations 320

Back 96

the creation of products, services, or technologies that replace existing ones

Front 97

Resistance to change 325

Back 97

is an emotional/behavioral response to real or imagined threats to an established work routine

Front 98

Adaptive change 326

Back 98

is reintroduction of a familiar practice

Front 99

Innovative change 326

Back 99

is the introduction of a practice that is new to the organization

Front 100

Radically innovative change 326

Back 100

involves introducing a practice that is new to the industry

Front 101

Benchmarking 328

Back 101

a process by which a company compares its performance with that of high-performing organizations

Front 102

John Kotter

Back 102

expert in leadership and change management; 8 steps to avoid the 8 common errors senior management usually commits

Front 103

Group 409

Back 103

2 or more freely interacting individuals who share collective norms, share collective goals, and have a common identity

Front 104

Team 409

Back 104

a small group of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hold themselves mutually accountable

Front 105

Formal group 409

Back 105

a group established to do something productive for the organization and is headed by a leader

Front 106

Informal group 409

Back 106

a group formed by people seeking friendship and has no officially appointed leader, although a leader may emerge from the membership

Front 107

Advice teams 411

Back 107

are created to broaden the info base for managerial decisions.
Examples: committees, review panels, continuous improvement teams, etc

Front 108

Production teams 411

Back 108

are responsible for performing day-to-day operations.
Examples: mining teams, flight-attendant crews, maintenance crews, assembly teams, etc

Front 109

Project teams 411

Back 109

work to do creative problem solving, often by applying the specialized knowledge of members of a cross-functional team, which is staffed with specialists pursuing a common objective
Examples: task forces, research groups, planning teams, etc

Front 110

Action teams 411

Back 110

work to accomplish tasks that require people with
1. specialized training and
2. a high degree of coordination, as on a baseball team, with specialized athletes acting in coordination
Examples: hospital surgery teams, airline cockpit crews, police SWAT teams, etc

Front 111

Cross-functional team 411

Back 111

a team staffed with specialists pursuing a common objective

Front 112

Self-managed teams 412

Back 112

groups of workers who are given administrative oversight for their task domains

Front 113

Forming (stages of group/team development) 414

Back 113

the process of getting oriented and getting acquainted

Front 114

Storming (stages of group/team development) 414

Back 114

characterized by the emergence of individual personalities and roles and conflicts within the group

Front 115

Norming (stages of group/team development) 414

Back 115

conflicts are resolved, close relationships develop, and unity and harmony emerge

Front 116

Group cohesiveness 414

Back 116

a "we" feeling binding group members together

Front 117

Performing (stages of group/team development) 414

Back 117

members concentrate on solving problems and completing the assigned task

Front 118

Adjourning (stages of group/team development) 414

Back 118

members prepare for disbandment

Front 119

Division of labor 416

Back 119

work is divided into particular tasks that are assigned to particular workers

Front 120

Social loafing 417

Back 120

the tendency of people to exert less effort when working in groups than when working alone

Front 121

Task role 417

Back 121

AKA task-oriented role
consists of behavior that concentrates on getting the team's tasks done

Front 122

Maintenance role 418

Back 122

AKA relationship-oriented role
consists of behavior that fosters constructive relationships among team members

Front 123

Norms 418

Back 123

are general guidelines or rules of behavior that most group or team members follow

Front 124

Cohesiveness 419

Back 124

the tendency of a group or team to stick together

Front 125

Groupthink 420

Back 125

a cohesive group's blind unwillingness to consider alternatives

Front 126

Conflict 423

Back 126

is a process in which one party perceives that its interests are being opposed or negatively affected by another party

Front 127

Negative conflict 423

Back 127

is conflict that hinders the organization's performance or threatens its interests

Front 128

Constructive conflict 423

Back 128

good for organizations;
benefits the main purposes of the organization and serves its interests

Front 129

Personality conflict 425

Back 129

interpersonal opposition based on personal dislike, disagreement, or differing styles

Front 130

Programmed conflict 429

Back 130

designed to elicit different opinions without inciting people's personal feelings

Front 131

Devil's advocacy 429

Back 131

the process of assigning someone to play the role of critic;
role-playing criticism to test whether a proposal is workable

Front 132

Dialectic method 429

Back 132

role-playing 2 sides of a proposal to test whether it is workable;
the process of having 2 people or groups play opposing roles in a debate in order to better understand a proposal

Front 133

Leadership 438

Back 133

the ability to influence employees to voluntarily pursue organizational goals

Front 134

Personalized power 440

Back 134

power directed at helping oneself

Front 135

Socialized power 440

Back 135

power directed at helping others

Front 136

Legitimate power 440

Back 136

power that results from managers' formal positions within the org

Front 137

Reward power 440

Back 137

power that results from managers' authority to reward their subordinates

Front 138

Trait approaches to leadership 444

Back 138

attempt to identify distinctive characteristics that account for the effectiveness of leaders

Front 139

Behavioral leadership approaches 448

Back 139

attempt to determine the distinctive styles used by effective leaders

Front 140

Contingency approach to leadership 450

Back 140

believe that effective leadership behavior depends on the situation at hand

Front 141

Contingency leadership model 450

Back 141

determines if a leader's style is:
1. task-oriented or
2. relationship-oriented
and if that style is effective for the situation at hand

Front 142

Path-goal leadership model 452

Back 142

states that the effective leader makes available to followers desirable rewards in the workplace and increases their motivation by clarifying the paths, or behavior, that will help them achieve those goals and providing them with support

Front 143

Situational leadership theory 455

Back 143

leadership behavior reflects how leaders should adjust their leadership style according to the readiness of the followers

Front 144

Readiness 455

Back 144

the extent to which a follower possesses the ability and willingness to complete a task

Front 145

Full-range leadership 458

Back 145

suggests that leadership behavior varies along a full range of leadership styles, from take-no-responsibility (laissez-faire) "leadership" at one extreme, through transactional leadership, to transformational leadership at the other extreme

Front 146

Transactional leadership 458

Back 146

focusing on clarifying employees' roles and tasks requirements and providing rewards and punishments contingent on performance

Front 147

Transformational leadership 459

Back 147

transforms employees to pursue organizational goals over self-interests

Front 148

Charisma 460

Back 148

a form of interpersonal attraction that inspires acceptance and support

Front 149

Leader-member exchange (LMX) model of leadership 462

Back 149

emphasizes that leaders have different sorts of relationships with different subordinates

Front 150

Shared leadership 463

Back 150

is a simultaneous, ongoing, mutual influence process in which people share responsibility for leading

Front 151

Servant leaders 463

Back 151

focus on providing increased service to others -- meeting the goals of both followers and the organization -- rather than to themselves

Front 152

e-leadership 464

Back 152

can involve one-to-one, one-to-many, within-group and between-group and collective interactions via information technology

Front 153

Communication 474

Back 153

the transfer of info and understanding from one person to another

Front 154

Encoding 475

Back 154

translating a message into understandable symbols or language

Front 155

Decoding 475

Back 155

interpreting and trying to make sense of the message

Front 156

Feedback 475

Back 156

the receiver expresses his or her reaction to the sender's message

Front 157

Noise 475

Back 157

any disturbance that interferes with the transmission of a message

Front 158

Media richness 477

Back 158

indicates how well a particular medium conveys info and promotes learning

Front 159

Semantics 479

Back 159

the study of the meaning of words

Front 160

Jargon 479

Back 160

terminology specific to a particular profession or group

Front 161

Stereotype 481

Back 161

consists of oversimplified beliefs about a certain group of people

Front 162

Nonverbal communication 481

Back 162

consists of messages sent outside of the written or spoken word

Front 163

Formal communication channels 486

Back 163

follow the chain of command and are recognized as official

Front 164

Downward communication 487

Back 164

from top to bottom; flows from a higher level to a lower level

Front 165

Horizontal communication 487

Back 165

flows within and between work units; its main purpose is coordination

Front 166

External communication 488

Back 166

flows between people inside and outside the org

Front 167

Informal communication channels 488

Back 167

develop outside the formal structure and do not follow the chain of command

Front 168

Grapevine 488

Back 168

the unofficial communication system off the informal organization

Front 169

Management by wandering around (MBWA) 488

Back 169

the term used to describe a manager's literally wandering around his/her organization and talking with people across all lines of authority

Front 170

Multicommunicating 489

Back 170

represents "the use of technology to participate in several interactions at the same time"

Front 171

Telepresence technology 491

Back 171

high-definition videoconference systems that simulate face-to-face meetings between users