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What are the three core management roles
Informational roles
Interpersonal roles
Decisional roles
Types of Informational roles
Monitor
Disseminator
Spokesperson
Types of Interpersonal roles
Figurehead
Leader
Liaison
Types of Decisional roles
Entrepreneur
Disturbance Handler
Resource Allocator
Negotiator
What is decision-making
The action of thinking through possible options and selecting one
What are stakeholders
All the individuals or groups that are affected by an organization
Questions to ask before making a decision
What’s the correct answer?
What’s the ethical answer?
What are the two ways the brain processes information to make decisions
Reflective system and Reactive system
How does the reflective system work
Logical, analytical, deliberate, and methodical
How does the reactive system work
Quick, impulsive, and intuitive, relying on emotions or habits to
provide cues for what to do next.
What is Emotional Intelligence
The ability to recognize, understand and manage one’s own emotions and the emotions of others.
What are the two kinds of Emotional Intelligence
Rational and Emotional
What are Programmed Decisions
Decisions that we repeat over and over, making them a routine
What are heuristics
Mental shortcuts
Types of Heuristics
Availability Heuristic
Representative Heuristic
Anchoring
Types of Cognitive Biases
Overconfidence
Loss aversion
Framing Effect
What are Nonprogrammed decisions
Decisions that are generally based on criteria that are not well-defined.
Steps of Nonprogrammed Decisions
1. Recognize that a decision needs to be made.
2. Generate multiple alternatives.
3. Analyze the alternatives.
4. Select an alternative.
5. Implement the selected alternative.
6. Evaluate its effectiveness.
What is the Organization's External Environment
All outside factors and influences that impact the operation of a business
Macro Forces and Environments
Economic Forces
Technological Forces
Sociocultural Forces
Natural Disasters and Human-Induced Problems
Political Forces
The environment-organization fit
Y-Axis: Environment Stability
X-Axis: Environment Complexity
Characteristics of Simple-Stable Environments
The small number of external elements and elements are similar
Elements remain the same or change slowly
Characteristics of Complex-Stable Environments
Large number of external elements and elements are dissimilar
Elements remain the same or change slowly
Characteristics of Simple-Unstable Environments
Small number of external elements and elements are similar
Elements change frequently and unpredictably
Characteristics of Complex-Unstable Environments
Large number of external elements and elements are dissimilar
Elements change frequently and unpredictably
How are Mechanistic organizational structures characterized
Top-down hierarchies
How are Organic organizational structures characterized
Flatter
For what environments are Mechanistic organizational structures most suitable for
Stable and simple to low-moderate uncertainty
For what environments are Organic organizational structures most suitable for
Unstable, complex, changing environments
Types of Organizational Structures, three eras:
Mid-1800s -1970s: mechanistic self-contained top-down
1980s - mid-1990s: horizontal flat organizational design
Mid-1990s - present: matrix, global, virtual, geographic
What are the advantages and disadvantages of
Functional and Divisional Structure
Advantage: High Specialization
Disadvantage: Isolation
Types of organizational structures
Functional
Divisional
Geographical
Matrix
Network
Virtual
What is Holacracy
Decentralized management and organizational governance, which claims to distribute authority and decision-making through a holarchy of self-organizing teams rather than a management hierarchy.
Benefits of Holacracy
Encourages employee engagement
Teams design and govern themselves
Increases flexibility by reducing reliance on hierarchies
Challenges of Holacracy
Ambiguity
Difficult to make decisions
Performance evaluation is complicated
What are ethics
Moral principles and values
What are Normative ethics
Ethics, asking how we should live and act.
Business ethics
How to operate a business ethically
What types of values affect business ethics at the individual level?
Ethics is personal and unique to each individual.
What are the Three levels of Ethics
Laws
Organizational Culture
Person’s values and beliefs
List all Ethical Principles and Responsible Decision-
Making
Utilitarianism
Universalism
Rights
Justice
Virtue
The Common Good
Self-Interest Approach
Utilitarianism
Definition
Greatest good for the greatest number of people
Utilitarianism
Limitations
Difficult to measure cost and benefits
Utilitarianism
Application
Used when resources are scarce.
Universalism
Definition
Considering the welfare and risks of all parties
Universalism
Limitation
Requires personal sacrifice
Rights
Definition
Legal and moral entitlements that protect individual freedoms and justice.
Rights
Limitations
Can be manipulated
Justice
Definition
Ensuring fairness through equal treatment
Justice
Limitation
Who decides right and wrong?
Virtue
Definition
Emphasizing good character traits
Virtue
Limitation
Subjective
The Common Good
Definition
Emphasizes conditions that allow individuals and social groups access to their fulfillment, requiring decisions that benefit societ as a whole.
The Common Good
Limitations
Difficulty in determining whose interests define the common good
Self-Interest Approach
Definition
Individuals set their own moral standards
Self-Interest Approach
Limitation
Personal Bias
