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66 Cards in this Set
- Front
- Back
What are the three levels of management?
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1- strategic
2- tactical 3- operational |
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Define strategic managers
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Firm's senior executives with overall responsibility for the firm
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Define tactical managers
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responsible for translating the general goals and plans developed by strategic managers into specific objectives and activities.
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Define operational managers
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lower-level managers who supervise the operations of the organization.
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Define cross-functional teams
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teams composed of individuals from different parts of an organization
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Define cross-disciplinary teams
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Teams that have members with diverse backgrounds
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What are the 4 management functions?
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1- planning
2-organizing 3- leading 4-controlling |
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Describe the management function of planning
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Assesses management environment to set future objectives and map out activities necessary to achieve those objectives.
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Describe the management function of organizing
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Determining how the firm's human, financial, physical, informational, and technical resources are arranged and coordinated to perform tasks to achieve desired goals
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Describe the management function of leading
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to energize people to contribute their best individually and in cooperation with other people
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Describe the management function of controlling
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Measuring performance, comparing it to objectives, implementing changes, and monitoring progress
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Which person is associated with management strategy?
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sun tzu; art of war
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which person is associated with leadership?
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nicolo machiavelli; the prince
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Which person is associated with design and organization of work?
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Adam Smith; wealth of nations
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Which person is associated with scientific management?
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Taylor
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Which person is associated with quantitative management?
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Ford Harris
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Which person is associated with quality management?
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walter shewhart
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Define the Hawthorne effect
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when a manager shows concern for employees, their motivation and productivity levels are likely to improve.
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Define Human Relations approach
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the relationship between employees and a supervisor is a vital aspect of management
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What is a theory X assumption?
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The average person has an inherent dislike for work
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What is a theory Y assumption?
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The average person has an inherent like for work because they seek responsibility
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What are the 3 contemporary management approaches?
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1) Systems theory
2) Contingency theory 3) Learning Organization Perspective |
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Define Systems theory
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Views the organization as a system of parts that create a whole to work as one holistic system.
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Define Contingency Theory
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States that there is no "one best" way to manage an organization
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Define Learning Organization Perspective
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Instead of reacting to change, an organization anticipates change
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What are the 2 Emerging perspectives of management?
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1) Modular organization
2) Intangible organization |
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Define modular organization
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Every function not regarded as crucial is outsourced to an independent organization
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Define Global Shift
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A term used to characterize the effects of changes in the competitive landscape prompted by worldwide competition
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What is NAFTA?
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North american free trade act; The major economic alliance in the Americas
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What are the 4 major factors affecting international business?
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1) General business environment
2) Legal systems 3) Economic environment 4) Cultural environments |
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Define Power distance
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The extent to which individuals expect a hierarchical structure that emphasizes status between subordinates and superiors
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Define Uncertainty avoidance
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the extent to which a society places a high value on reducing risk and instability
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Define first-mover advantage
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preempting rivals, capturing demand by establishing a strong brand name, and making it difficult for later entrants to win business.
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What are pioneering costs?
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effort, time, and expense of entering a national market.
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Define Turnkey projects
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a specialized type of exporting in which the firm handles the design, construction, start-up operations, and workforce training of a foreign plant.
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Define strategic alliances
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cooperative arrangements between competitors or potential competitors from different countries.
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Define wholly owned subsidiaries
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Entering new markets in which a firm fully owns its subsidiary in a foreign country
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what are the 3 approaches to managing the global firm?
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1) ethnocentric
2) polycentric 3) geocentric |
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Define Third-country nationals
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citizens of countries other than the host nation or the firm's home country
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Define Ethics
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principles that explain what is good and right and what is bad and wrong and that prescribe a code of behavior based on these definitions
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Define business ethics
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standards or guidelines for the conduct and decision making of employees and managers
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What are the 6 ethics approaches?
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1- utilitarianism
2- individualism 3- rights approach 4- justice approach 5- applications of ethics approaches 6- comparison of ethics approaches |
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Define utilitarianism
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a means of making decisions based on what is good for the greatest number of people
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Define Rights approach
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A means of making decisions based on the belief that each person has fundamental human rights that should be respected and protected
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Define Justice Approach
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An approach to decision making based on treating all people fairly and consistently when making business decisions
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Define Corporate Credo
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A formal statement focusing on principles and beliefs, indicating the company's responsibility to its stakeholders
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Define Ethical Policy Statements
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A firm's formal guidelines that provide specific formulas for employees' ethical conduct
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Define Whistleblower policies
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A method by which employees can disclose their employer's illegal conduct can be protected
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Give 4 examples of ethical dilemmas in the workplace
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1- performance appraisals
2- employee discipline 3- romantic relationships 4- gift giving |
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Define Social Responsibility
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The belief that corporations have a responsibility to conduct their affairs ethically to benefit both employees and the larger society
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Give 7 categories of stakeholders
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1- owners
2- employees 3- governments 4- customers 5- community 6- competitors 7- social activist groups |
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What are the 4 strategies for managing stakeholders?
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1- damage control
2- confrontation 3- proactive 4- accommodation |
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Explain Accommodation strategy
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a means of dealing with stakeholders groups when a firm decides to accept responsibility for its business decisions after pressure from stakeholders
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Explain Proactive strategy
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A means of dealing with stakeholders when a firm determines that it wants to go beyond stakeholder expectations
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Define organizational culture
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A system of shared values, assumptions, beliefs, and norms that unite the members of an organization
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Define Visible culture
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aspects of culture that an observer can hear, feel, or see.
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Define espoused values
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the aspects of corporate culture that are not readily observed, but instead can be perceived from the way managers and employees explain and justify their actions and decisions
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Define Socialization
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the process of internalizing or taking organizational values as one's own.
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What are the three stages of socialization? In order.
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1) Pre-arrival stage
2) Encounter stage 3) Metamorphosis stage |
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Define baseball team culture
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The fast-paced, competitive, high risk form of corporate culture typically found in organizations in rapidly changing environments, with short product life cycles, high-risk decision making, and dependent on continuous innovation for survival,
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Define club culture
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a type of organizational culture that seeks people who are loyal, committed to one org., and need to fit into a group, and rewards them with job security, promotion from within, and slow progress
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Define academy culture
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type of organization that seeks to hire people with specialties and technical mastery
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Define Fortress Culture
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An organizational culture with the primary goal of surviving and reversing business problems.
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Define the three-step model
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A model of organizational change that features the 3 steps of unfreezing, change, and refreezing
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Define force-field analysis
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states that 2 sets of opposing forces are at equilibrium to make change come about (driving and restraining forces)
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What are the five tactics for introducing change?
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1- communication and education
2- employee involvement 3- negotiation 4- coercion 5- top management support |