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103 Cards in this Set
- Front
- Back
360 Degree Appraisal
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Process of using multiple sources of appraisal to gain a comprehensive perspective on one's performance - peers, subordinates, superiors, possibly consumers
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Accountability
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Expectation that employees will do a job, take corrective action when necessary and report upward on the status and quality of their performance.
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Administrative Management
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Classical management approach that attempted to identify major principles and functions that managers could use to achieve superior organizational performance.
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Acquisition
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One firm buying another
i.e. AT&T bought Cingular |
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Adaptable
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Prepared to meet the complex and ever-changing challenges of the modern business world.
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Adverse Impact
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When a seemingly neutral employment practice has a disproportionately negative effect on a protected group
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Advertising Support Model
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Advertisers pay the site operator to gain access to the demographic group that visits the site
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Affective Conflict
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Emotional disagreement directed toward other people.
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Affiliate Model
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Pay commissions to other sites to drive business to their own site.
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Age Discrimination in Employment Act
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Prohibits employment discrimination based on age for persons over 40, restricts mandatory retirement.
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Americans with Disabilities Act, 1990
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Extends affirmative action to private employers; requires workplace modifications to facilitate disabled employees; prohibits discrimination against the disabled.
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Guidelines for Choosing Appraisal Method
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1. Base performance Standards on job analysis.
2. Communicate performance standards to employee. 3. Evaluate employees on specific performance related behaviors, instead of single goal or overall measure. 4. Document the PA process carefully. 5. If possible, use more than one rater. 6. Develop a formal appeal process. 7. Always take legal considerations into account. |
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Arbitration
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The use of a neutral third party to resolve a labor dispute.
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Assessment Center
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A managerial performance test in which candidates participate in a variety of exercises and situations.
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Astroturfing
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Companies create fictional blogs as a marketing tactic without disclosing their sponsorship.
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Authority
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The legitimate right to make decisions and tell other people what to do.
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Barriers To Entry
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Conditions that prevent new companies from entering an industry; i.e. government regulations, capital requirements, brand ID
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Benchmarking
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The process of comparing organization's practices and technologies with those of other companies; i.e., Healthgrades.com
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Bootlegging
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Informative efforts in which employees work to create new products and processes of their own choosing.
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Bounded Rationality
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A less that perfect form of rationality in which decision makers cannot be perfectly rational because decision is complex and complete information isn't available or can't be fully processed.
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Brainstorming
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Process in which group members generate as many ideas about a problem as they can. Criticism is withheld until all ideas have been proposed.
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Broker
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A person who assembles and coordinates participants in a network.
Designer Role --> Process & Engineering Role -->Nurturing Role |
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Buffering
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Creating supplies of excess resources in case of unpredictable needs; i.e., contingency workers, temps
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Bureaucracy
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Classical Management approach emphasizing a structural formal network of relationships among specialized positions in the organization.
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Business Ethics
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Comprises the moral principles and standards that guide behavior in the world of business.
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Business Incubators
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Protected environments for new/small businesses offering low rents or shared operating costs
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Business Strategy
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The major actions by which a business competes in a particular market or industry
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Cafeteria Benefit Program
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Benefit program in which employees choose from a menu of options to create a benefit package tailored to their needs.
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Cash Cows
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Low growth, strong competitive businesses. They generate revenues in excess of investment needs and therefore fund other ventures.
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Caux Principles
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Kyosei and human dignity
Kyosei: living and working together for common good, allowing cooperation and human prosperity to coexist with healthy and fair competition. Human Dignity: concerns the value of each person as an end - not a means, to fulfillment of others purposes. |
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Centralized Organization
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High level executives make most decisions and pass them down to lower levels for implementation
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Certainty
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The state that exists when decision-makers have accurate and comprehensive information
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Civil Rights Act, 1991
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Clarifies Title VII requirement disparate treatment impact suits; business necessity, job relatedness; shifts burden of proof to employer. Permits punitive damages and jury trials.
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Coalition Model
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Model of decision-making in which groups with differing preferences use power and negotiation to influence decisions.
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Cognitive Conflict
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Issue based differences in perspectives or judgements.
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Comparable Worth
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Principle of equal pay for different jobs of equal worth.
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Competitive Environment
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The immediate environment surrounding a firm; includes suppliers, customers, rivals
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Competitive Intelligence
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Information that helps managers determine how to compete better; i.e., culture, market groups
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Complexity
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Refers to the number of issues to which a manager must attend, as well as their interconnectedness.
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Compliance Based Ethics Program
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Designed by Corporate Counsel to prevent, detect and punish legal violations - only ensures moral mediocrity.
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CIM - Computer Integrated Manufacturing
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Use of computer aided design and computer aided manufacturing to sequence and optimize a number of production processes.
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Concentration
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Strategy employed for an organization that operates as a single business and competes in a single market.
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Concentric Diversification
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Strategy that involves moving into new businesses that are related to the company's core business (original business)
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Conceptual & Decision Skills
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Ability to identify and resolve problems for the benefit of organization and everyone concerned.
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Conflict
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Opposing pressures from different sources, occurring on the level of psychological conflict or of conflict between individuals or groups; i.e., layoffs, or 3 promising applicants but only one position
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Conglomerate Diversification
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Corporate Strategy that involves expansion into unrelated businesses.
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Contingency Perspective
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Proposes that managerial strategies, structures and processes that result in high performance depend on the characteristics or important contingencies, or the situation in which they are applied.
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Continuous Process
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Process that is highly automated and has continuous production flow.
An organic Structure - less rules and regulations required-not necessary. Machines/computers do the work. |
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Corporate Social Responsibility
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Obligation towards society assumed by businesses.
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Corporate Strategy
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Identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources among those businesses.
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Controlling
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Monitor performance and implement the necessary changes
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Cooperative Strategies
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Strategies used by 2 or more organizations, working together to manage the external environment; i.e., contract to exchange goods/services.
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Coordination
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The procedures that link the various parts of an organization for the purpose of achieving the organizations overall mission.
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Coordination by Mutual Adjustment
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Units interact with one another to make accommodations to achieve flexible coordination
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Coordination by Plan
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Interdepartmental units are required to meet deadlines and objectives that contribute to a common goal.
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Corporate Governance
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The role of a Corporation's executive staff and Board of Directors in ensuring that the firm's activities meet the goals of shareholders - ethical, legal and social.
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Cost Competitiveness
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Keeping costs low to achieve profits and be able to provide attractive prices.
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Culture Shock
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Disorientation and stress associated with being in a foreign environment.
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CRM - Customer Relationship Management
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Multifaceted process focusing on creating 2-way exchanges with customers to foster intimate knowledge of their needs, wants and buying power.
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Decentralized Organization
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An organization in which lower level managers make important decisions.
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Advantage of Decentralization
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Level that deals directly with problems and opportunities has the most relevant information and can best foresee the consequences of decisions.
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Defenders
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Companies that stay within a stable product domain as a strategic maneuver.
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Delegation
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The assignment of new or additional responsibilities to a subordinate.
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Steps in Effective Delegation
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6 Steps:
1. Define Goal. 2. Select person 3. Solicit views 4. Give authority, time & resources 5. Schedule checkpoints for updates 6. Follow through by discussing progress |
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Demand Forecast - HR
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Determining how many and what types of people will be needed.
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Demographics
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Measures of various characteristics of the people who make up groups or other social units; i.e., work groups, organizations, market groups.
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Departmentalization
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Subdividing an organization into smaller subunits.
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Approaches to Departmentalization
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Functional - Specialized & grouped according to business functions and the skills they require. (R&D, HR, Finance)
Divisional - groups units around products, customers or geographical regions. All functions that contribute to product are grouped under one manager. Matrix - composed of dual reporting relationships in which some managers report to two superiors, a functional manager and a divisional manager - dual line of command. |
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Development
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Helping managers and professional employees learn the broad skills needed for their present and future positions.
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Devil's Advocate
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A person who has the job of criticizing ideas to ensure that their downsides are fully explored.
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Dialectic
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A structured debate comparing two conflicting courses of action
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Differentiation
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Aspect of the organizations internal environment created by job specialization and the division of labor. (means organization is composed of many different units focusing on different skills and work methods, completing different tasks.)
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Differentiation Strategy
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Strategy used to build competitive advantage by being unique in it's industry or market segment along with one or more dimensions.
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Discounting the Future
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Bias weighting short term costs and benefits more heavily than longer term costs and benefits.
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Diversification
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A firm's investment in a different product, business or geographic area; i.e., Apple's launch of the IPod
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Divestiture
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A firm selling one or more businesses to stay solvent; i.e., Ford sold Aston Martin
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Division of Labor
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Assignment of different tasks to different people or groups.
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Divisional Organization
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Departmentalization that groups units around products, customers or geographical regions.
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Dogs
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Low growth, weak competitive position businesses. The remaining revenues from the business are realized and the business is divested.
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Domain Selection
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Entering a new market or industry with an existing expertise; i.e., Nintendo - created the Wii to appeal to customers not previously interested in video games - less violent!
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Downsizing
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Planned elimination of positions or jobs.
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Dynamic Network
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Temporary arrangements among partners that can be assembled and re-assembled to adapt to the environment (modular or virtual corporation).
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Dynamism
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Refers to the degree of continuous change that occurs within the industry.
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Ecocentric Management
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The creation of sustainable economic development and the improvement of Quality of Life worldwide for all organizational stakeholders.
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Economic Responsibilities
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To produce goods and services that society wants at a price that perpetuates the business and satisfies it's obligations to investors.
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Economies of Scale
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Reductions in the average cost of a unit of production as the total volume produced increases.
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Economies of Scope
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Economies in which materials and processes employed in one product can be used to make other related products.
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Egoism
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Ethical system defining acceptable behavior as that which maximizes consequences for the individual "Doing the Right Thing!"
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Emotional Intelligence (EQ)
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Skills of understanding yourself, managing yourself and dealing effectively with others.
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Employment at Will
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Legal concept that an employee may be terminated for any reason.
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Empowerment
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Process of sharing power with employees thereby enhancing their confidences in their ability to perform their jobs and in their belief that they are influential contributors to the organization.
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Entrepreneur
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Individual who establishes a new organization without the benefit of corporate sponsorship,.
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Entrepreneurial Venture
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Business having growth and high profitability as primary objective.
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Entrepreneurship
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Pursuit of lucrative opportunities by enterprising individuals - inherently about innovation - creating a new venture where one didn't exist before.
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Environmental Responses
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Most useful when aimed at elements of environment that:
1.Cause the company problems 2. Provide it with opportunities 3. Allow the company to change successfully |
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Environmental Scanning
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Searching for and sorting through information about the environment to find out what's important and what isn't (information that is not available to most people).
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Environmental Uncertainty
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Lack of information needed to understand or predict the future.
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Equal Pay Act. 1963
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Prohibits gender-based pay discrimination between two jobs substantially similar in skill, effort, responsibility and working conditions.
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Ethical Climate
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Processes by which decisions are evaluated and made on the basis of right and wrong in an organization.
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Ethical Issue
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Situation, problem or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrong.
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Ethical Systems
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Refers to the principles, rules and values people use in deciding what is right or wrong.
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Ethics
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The system that governs the ordering of values
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Ethnocentrism
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A tendency to judge foreign people or groups by the standards of your own and to see yours as superior.
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