Week 1: Chapter 1 Management Today

This set of flashcards covers key concepts from the lecture notes on management, including terms related to career readiness, organizational structure, management roles, and essential skills.

Career Readiness

The ability to exhibit the skills and competencies required by employers in the new economy.

Intellectual Capital

The combined brainpower and shared knowledge of an organization’s employees.

Tech IQ

A person’s ability to use current technologies effectively in both professional and personal contexts.

Globalization

The worldwide interdependence of resource flows, product markets, and business competition.

Ethics

A code of moral principles that sets standards of conduct regarding what is considered ‘good’ and ‘right’.

Workforce Diversity

The presence of differences in a workforce regarding gender, age, race, ethnicity, religion, and other attributes.

Glass Ceiling Effect

An invisible barrier that prevents certain groups from rising beyond a certain level in an organization.

Free-Agent Economy

A labor market characterized by individuals frequently changing jobs and working on flexible contracts.

Productivity

A measure of the quantity and quality of work performance relative to resource utilization.

Quality of Work Life (QWL)

An indicator of the overall quality of human experiences in the workplace.

Mintzberg’s Managerial Roles

A classification of the ten roles that managers perform to effectively lead an organization.

Lifelong Learning

The process of continuously learning from daily experiences and opportunities.

Technical Skills

The abilities and knowledge needed to perform specialized tasks in a specific field of work.

Human Skills

The abilities to work well with others and organize as part of a team.

Conceptual Skills

Skills that enable a manager to understand complex situations and think critically about problems.