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52 Cards in this Set
- Front
- Back
Manager
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Responsible for achieving organization objectives through using resources effectively.
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Company Resources
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Human- People the managers get their job done through people and their the most important resources
Financial - A budget stating how much it should cost to operate and its the finances available Physical - Getting something done with effective resources. Managers have to keep equipment working. Information - need information technology to share knowledge |
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Technical Management skills
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Involve the ability to use methods and techniques to perform a task.
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Interpersonal skills
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the ability to understand, communicate, and work well with individuals and groups.
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Decision making skills
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seeing situations and being able to solve problems and take advantage of opportunities.
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Planning
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setting objectives and determining in advance how they will be met
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Organizing
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delegating and coordinating tasks and allocating resources to achieve objectives.
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Leading
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influencing employees to work toward achieving objectives
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controlling
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establishing and implementing mechanisms to ensure that objectives are achieved.
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Management levels
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Top - people in executive positions such as CEO, President, or Vice President.
Middle - Titles like sales manager, branch manager, or department head, and they implement top management strategy's. First line - crew leader, supervisor, and office manager they implement middle manager stuff. |
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Types of managers
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General - supervise activities of several departments.
Functional - supervise the completion of related tasks Project - coordinates employees and other resources across several functional deparments |
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How functions change by large business vs small business
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small is less formal and sophisticated
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Entrepreneur
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start new small businesses
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Intrapreneurs
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start a new line of business with a large organization
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Competitive advantage
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unique customer value and its what makes you different from your competition
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First -mover advantage
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offering a unique value before other people do
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shareholders
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owners of a corporation and influence management
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Stakeholders
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Peoples whose interests are affected by organizational behavior
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Systems process
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transforming inputs into outputs
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Total Quality Managements (TQM)
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process that involves everyone in an organization focusting on the customers to continually improve product value.
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Symbolic leaders
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articulate a vision for an organization and reinforce the culture through slogans, symbols, and ceremonies.
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Learning organization
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sharing knowledge so that you continuously improve
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Ethnocentrism
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regarding to ones ethnic group as superior to others.
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Trade alliances (NAFTA)
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eliminated tariffs between canada mexico and us on trading
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MultiNational Corporation (MNC)
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have significant operations in more than one country
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Joint Venture
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when firms share ownership of a new enterprise
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Direct Investment
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is the construction or purchase of operating facilities
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Stakeholders approach to ethics
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creating a win-win so that everyone benefits.
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Social Audit
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is a measure of a firms social behavior.
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Decision making model
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1. Classify and define the problem or opportunity
2. Set objectives and criteria 3. Generate creative and innovative alternatives 4. Analyze alternatives and select the most feasible 5. Plan and implements the decision 6. Control the decision |
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Management styles
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Reflexive - makes quick decisions
Reflective - takes a lot of time to make a decision Consistent - make a decision without rush or wasting time |
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Programmed vs. non-programmed decisions
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Programmed happens in routine situations and should use organizational policies and non-programmed happen in non routine situations and should use the decision making model
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Pros and cons of group decision making
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Pros: Better quality decisions, more information, alternatives, creativity, and innovation, better understanding of the decision, and greater commitment to the decision, motivation, and good training.
Cons: Wasted time, Domination and goal displacement, Conformity |
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Innovation
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The implementation of a new idea.
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The Creative Process
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1. Preparation - be familiar
2. Incubation - take a break and sleep on the problem 3. Evaluation - evaluate alternative |
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Cost-benefit analysis
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is a technique for comparing the cost and benefit of each alternative course of action
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Strategic Planning
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developing a mission and long range objectives and how they will be accomplished.
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Operational planning
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process of setting short range objectives and determining in advance how they will be accomplished
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Situation analysis
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1. Rivalry among competing sellers in the industry
2. Threat of substitute products and services 3. Potential new entrants 4. Power of suppliers 5. Power of buyers |
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The Strategic Planning Process
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1. developing the mission
2. analyzing the environment 3. setting objectives 4. developing strategies 5. implementing strategies |
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Strategy Levels
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Corporate - plan for managing multiple lines of business
Business - plan for managing one line of business Functional - plan for managing one area of business |
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SWOT analysis (strengths, weakness, opportunity, threats)
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S and W analyze internal and O and T analyze external
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Benchmarking
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process of comparing an organization's products or services and process with other companies.
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Criteria for objectives
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single, specific, measurable, reasonable and timely
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Management by objectives (MBO)
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when managers and employees set objectives for employees and evaluate performance
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Corporate Strategies
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Growth, Stability, Turnaround/Retrenchment, and combination
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Growth Strategies
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Concentration- growing fast in existing lines
Integration - enters new lines relating to the existing one Diversification - going into a related or unrelated line of products |
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Portfolio analysis
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process of determingin which lines of business the corporation will be in and how it will allocate resources
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Business Strategies
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Adaptive, Competitive, and Functional
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Standing plans vs. single use plans
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standing plans are policies, procedures and rules for repetitive situations and single-use planes are programs and budgets for nonrepetative plans
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Contingencies plans
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are alternative plans to be implemented if uncontrollable events occur.
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Choosing Civility 6 Rules
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1. Pay Attention
2. Acknowledge Others 3. Think the Best 4. Listen 5. Be Inclusive 6. Speak Kindly |