Management Final Exam

manager

a person who has the upper hand; a person who is in charge of someone or something

Traditional Management

Top managers ensure competitiveness of the organization by creating new strategies that the lower management will implement to maintain obedience

contemporary management

empowered lower

Empowerment

giving employees the authority to correct a problem without first checking with management

Interpersonal

leader, figurehead

Psychology

the scientific study of behavior and mental processes

Leadership

The action of leading a group of people or an organization

Entrepreneurship

the process of starting, organizing, managing, and assuming the responsibility for a business

Strategic Planning

tactical planning

Short term planning that is the implementation of the strategic plan, often used by middle

operational planning

assumes organization wide goals and specifies ways to achieve them

Organizing

the process of allocating human resources in the best possible configuration to achieve an organizations goal.

Job Design

the process of combining various elements to form a job, keeping in mind organizational and employee requirements.

Leading

Utilizing social and informal influences to set a standard for those under your guidance

Controlling

the process of ensuring that performance does not deviate from preset standards

OCB

organizational citizenship behavior

In role performance

The things that are necessary as part of your job description

Henry Fayol

14 principles of management

Frederick Taylor

Father of scientific management

Frank Gilbreth and Lillian Moller Gilbreth

scientist to improve productivity and reduce fatigues by studying the motion used by workers

Peter Drucker

creator and inventor of modern management

Warren Bennis

Pioneered a new theory of leadership that addressed the need for leaders to have vision and to communicate that vision.

social networking

systems that allow members of a certain site to learn about other members skills, talents, knowledge, and preferences

learning organization

An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights.

virtual organization

where employees work remotely—sometimes within the same city, but more often across a country and across national borders

Wiki

A collaborative website that can be edited by anyone that can access it.

performance orientation

how much should individuals be rewarded for improvement and excellence

uncertainty avoidance

Rules are created to enforce strict codes that minimize uncertain outcomes in the workplace

Assertiveness

how confrontational and dominant should individuals be in social relationships

power distance

a value orientation that refers to the extent to which less powerful members of institutions and organizations within a culture expect and accept an unequal distribution of power

gender egalitarianism

Refers to the degree to which a society is characterized by equal opportunities and access to resources for men and women

institutional collectivism

the extent to which people act predominantly as a member of a lifelong group or organization

humane orientation

represents the degree to which individuals are encouraged to be altruistic, caring, kind, generous, and fair

future orientation

One's expectations and the degree to which one is thoughtful about the future. It is a multifaceted concept that includes planning, realism, and a sense of control

Sarbanes

Oxley Act

Categorical Imperative

An ethical guideline developed by Immanuel Kant under which an action is evaluated in terms of what would happen if everybody else in the same situation, or category, acted the same way.

Legalism

adherance to laws and formula

cultural relativism

the practice of judging a culture by its own standards

Utilitarianism

idea that the goal of society should be to bring about the greatest happiness for the greatest number of people

light of day

When the real traits of a business are revealed

Personality

traits, values, and attitudes

values

Beliefs of a person or social group in which they have an emotional investment (either for or against something).

openness to experience

how intellectual, imaginative, curious, and broad

Conscientiousness

A personality dimension that describes someone who is responsible, dependable, persistent, and organized

Agreeableness

characteristics that are perceived as kind, sympathetic, cooperative, warm and considerate

Neuroticism

anxiety, insecurity, emotional instability

self

monitoring

proactive personality

people who identify opportunities, show initiative, take action, and persevere until meaningful change occurs

self

esteem

self

efficacy

Faking

giving false answers in personality tests

Perception

the process by which individuals detect and interpret environmental stimuli

self

enhancement bias

False consensus bias

When we assume everyone else agrees with what we do, even if they do not

social perception

how we perceive others will shape our behavior, which, in turn, will shape the behavior of the person we are interacting with

stereotype

A generalized belief about a group of people

self

fulfilling prophecy

selective perception

The phenomenon that people often pay the most attention to things they already agree with and interpret them according to their own predispositions.

job satisfaction

a positive feeling about one's job resulting from an evaluation of its characteristics

organizational commitment

the emotional attachment people have toward the company they work for

job engagement

Investment of employee's physical, cognitive, and emotional energies into job performance

person

organization fit

person

job fit

psychological contract

the unspoken, informal understanding that an employee will contribute certain things to the organization

attitude surveys

Surveys that are given to employees periodically to track their work attitudes.

absenteeism

(n) staying away from work, especially often and without good reasons

employee turnover

The rate at which people enter and leave employment in a business during a year.

Mission Statement

communicates the organization's reason for being, and how it aims to serve its key stakeholders

Vision Statement

a future

organizational culture

a system of shared meaning held by members that distinguishes the organization from other organizations

organizational design

a formal, guided process for integrating the people, information, and technology of an organization

Strategic Human Resource Management

reflects the aim of integrating the organization's human capital—its people—into the mission and vision

programmed thinking

Thinking that relies on logical or structured ways of creating a new product or service (often called left

lateral thinking

the solving of problems by an indirect and creative approach, typically through viewing the problem in a new and unusual light.

SCAMPER

a checklist tool that helps individuals think of changes that can be made to an existing marketplace to create a new product, a new service, or both

nominal group technique

A decision

Stakeholders

All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address.

stakeholder analysis

refers to the range of techniques or tools used to identify and understand the needs and expectations of major interests inside and outside the organization environment

Strategic Management

reflects the firm's actions to achieve its mission and vision as seen by its achievement of specific goals and objectives

strategy formulation

The development of a set of corporate, business, and functional strategies that allow an organization to accomplish its mission and achieve its goals

Synergy

when the interaction of two or more activities, such as those in a business, create a combined effect greater than the sum of their individual effects

SWOT analysis

strengths, weaknesses, opportunities, threats

Intended Strategy

the strategy the organization decides on during the planning phase and wants to use

realized strategy

the strategy that actually takes place

Emergent Strategy

any unplanned strategic initiative bubbling up from the bottom of the organization

Competencies

resources and capabilities that serve as a source of a firm's competitive advantage over rivals

Resources

a spectrum of individual, social, and organizational assets

Value Chain

a useful tool for taking stock of organizational capabilities. The value chain framework outlines key activities that differentiate the value

VRIO Analysis

Value

Rarity

Inimitability

Organization

(Building blocks of competitive advantage)

PESTEL

Political

Economic

Social

Technological

Environmental

Legal