Principles of Management and Marketing (CBU 1105)

A comprehensive collection of vocabulary flashcards mapping key principles of management, organizational theory, decision-making, human resources, leadership, motivation, and marketing mix strategies from CBU 1105.

Management (Bartol & Bartin, 1991)

The process of achieving organizational goals through engaging in the four major functions of planning, organizing, leading, and controlling.

Management (Follet, 1941)

The art of getting things done through other people.

Robert Owen

A forerunner of scientific management who managed cotton mills in New Lanark, Scotland, improved worker housing, reduced the standard workday to ten and a half hours, and refused to hire children to increase productivity.

Charles Babbage

A British professor in mathematics and forerunner of scientific management who advocated for division of labor, time study, cost analysis, and the application of scientific principles to work processes.

Frederick W. Taylor

Known as the Father of Scientific Management; developed four principles including the development of a true science of management, scientific selection, scientific education, and friendly cooperation between management and labor.

Gantt Chart

A production scheduling charting system originated by Henry L. Gantt, who also created a bonus system for workers and supervisors reaching daily targets.

Motion and Fatigue Studies

Collaborative research carried out by Frank B. and Lillian M. Gilbreth aimed at eliminating unnecessary motions to reduce fatigue, raise worker morale, and improve welfare.

Henri Fayol's Six Business Activities

The six operational activities identified by Fayol: technical, commercial, financial, security, accounting, and managerial.

Max Weber's Bureaucracy

A classical organizational theory model characterized by division of labor, a well-defined authority hierarchy, high formalization, merit-based employment, career tracks, and distinct separation of personal and organizational life.

Hawthorne Experiments

Studies conducted by Elton Mayo that investigated the relationship between workplace lighting levels, experimental variables (like rest periods and shortened workdays), and worker productivity.

Synergy

A key concept in the Systems Approach where the combined output of integrated subsystems working together exceeds the sum of their individual outputs.

Figurehead Role

An interpersonal managerial role involving the performance of symbolic or ceremonial duties as the head of an organizational unit, such as greeting visitors.

Liaison Role

An interpersonal managerial role where managers establish and maintain a network of contacts both inside and outside the organization.

Disseminator Role

An informational managerial role in which a manager distributes important internal or external information to subordinates.

Disturbance Handler Role

A decisional managerial role responsible for taking corrective action when the organization faces unexpected high-pressure situations or sticky problems.

Operational Plans

Short-term, routine plans made by lower-level management that focus on the day-to-day operations and current scale of company activities using internal information.

Tactical Plans

Medium-term plans with a horizon of 1 to 5 years, undertaken by middle management using both internal and external information.

Strategic Planning

Long-term survival planning undertaken by top-level managers to determine the organization's future scale of operations and overall direction.

Programmed Decisions

Repetitive, routine decisions made under conditions of certainty using established rules, procedures, or decision formulas.

Unprogrammed Decisions

Novel, non-routine decisions involving high uncertainty and unusual cases that lack pre-established decision rules, typical at higher management levels.

Groupthink

A potential disadvantage in group decision-making where members prioritize consensus over critical evaluation, which can be mitigated by assigning a devil's advocate.

Organising

The management function that involves determining tasks to be done, who will do them, and how resources and formal relationships are prescribed and coordinated to meet goals.

Departmentalization

The process of grouping work activities that are similar and logically connected into distinct units or departments.

Span of Control

The specific number of subordinates who report directly to a given manager.

Organisational Chart

A visual diagram showing an organization's structure, including its functions, departments, positions, and formal reporting relationships.

Autocratic Leadership Style

A dictatorial leadership style where the leader makes all decisions independently, demands absolute obedience without consultation, and relies on one-way downward communication.

Democratic Leadership Style

A participative leadership style where the leader involves subordinates in decision-making, considers their feedback, and encourages open two-way communication.

Laissez-faire Leadership Style

A hands-off leadership style where authority and decision-making are fully delegated to self-directed subordinates, with the leader acting mainly as a resource provider.

Paternalistic Leadership Style

A leadership style where the leader acts as a parental figure, offering welfare, guidance, and protection in exchange for complete loyalty and trust.

Impoverished Management (1,1)

A style on Blake and Mouton's Managerial Grid characterized by minimal effort exerted on both task output and people morale.

Authority-Obedience Manager (9,1)

A style on Blake and Mouton's Managerial Grid prioritizing high task performance while ignoring employee personal needs, also known as the produce or perish style.

Team Manager (9,9)

The ideal style on Blake and Mouton's Managerial Grid combining high concern for people with high concern for production, rooted in McGregor's Theory Y.

Theory X

McGregor's assumption that employees inherently dislike work, avoid responsibility, lack ambition, and require strict supervision and coercion.

Theory Y

McGregor's assumption that employees are self-motivated, view work as natural, seek responsibility, and respond well to participative management.

Hersey and Blanchard's Situational Model

A contingency leadership framework stating that effective leadership requires matching directive and supportive behaviors to the readiness and maturity of followers.

Content Theories of Motivation

Motivation theories (such as Maslow's, Alderfer's, Herzberg's, and McClelland's) that focus on specific internal needs that motivate human behavior.

Process Theories of Motivation

Motivation theories (such as Equity, Expectancy, and Goal-Setting) that focus on why and how individuals choose specific actions to achieve goals.

Frustration-Regression Principle

A core tenet of Alderfer's ERG theory stating that if an individual is continually frustrated in satisfying a higher-level growth need, a lower-level need will re-emerge.

Hygiene Factors

Extrinsic job-context factors in Herzberg's theory (such as salary, working conditions, and company policy) that prevent dissatisfaction but do not directly motivate.

Motivators (Herzberg)

Intrinsic job-content factors (such as achievement, recognition, responsibility, and growth) that directly create job satisfaction and drive high performance.

Equity Theory

Adams's motivation theory based on the idea that individuals compare the ratio of their job inputs to outcomes against the input-outcome ratio of relevant peers.

Expectancy Theory

Vroom's motivation model asserting that motivation depends on three factors: Expectancy (effort leads to performance), Instrumentality (performance leads to reward), and Valence (value of reward).

Reinforcement Theory

A psychological theory stating that behavior is driven by its consequences, where positive outcomes reinforce actions and negative outcomes diminish them.

Filtering

A communication barrier involving the deliberate manipulation of information by a sender so that it appears more favorable to the receiver.

Controlling

The managerial function of establishing performance standards, measuring actual results, comparing performance to standards, and taking corrective actions.

Core Product

The fundamental problem-solving benefit or functional utility that a consumer is primary buying when purchasing a product.

Actual Product

The physical characteristics, styling, quality level, brand name, packaging, and features that combine to deliver the core product benefits.

Augmented Product

The additional non-physical services, warranties, installation, financing, customer care, and support added to enhance the overall customer value.

Convenience Products

Inexpensive items purchased frequently, immediately, and with minimal shopping comparison effort, typically distributed intensively.

Shopping Products

Consumer goods purchased less frequently that customers carefully compare based on suitability, quality, price, and style prior to selection.

Specialty Products

Goods with unique characteristics or prestigious brand identities for which buyers are willing to exert significant purchasing effort.

Unsought Products

Products that consumers do not know about or do not normally consider buying without aggressive promotional campaigns, such as life insurance or blood donation.

Product Line

A broad category of closely related product items offered by a single firm because they perform similar functions, share target markets, or fall into identical price ranges.

Product Mix

The complete assortment of all product lines and individual items offered for sale by a manufacturer or business organization.

Intangibility of Services

The quality of services whereby they cannot be seen, touched, tasted, felt, or held prior to purchase, forcing buyers to rely on symbolic evidence.

Inseparability of Services

The characteristic indicating that services are produced and consumed simultaneously in real time, making point-of-sale interaction crucial.

Service Blueprint

A detailed graphical diagram illustrating the sequential steps and touchpoints involved in delivering a service to identify bottlenecks and failure points.

Kainotophobia

An intense fear of change or novel concepts that causes customer reluctance or resistance toward adopting unproven new products.

Product Life Cycle (PLC)

The theoretical model tracing the standard trajectory of sales revenues and profit levels across five operational stages: Product Development, Introduction, Growth, Maturity, and Decline.

Innovators

The first 2.5% of adopters in the diffusion model who are venturesome, educated, risk-tolerant, and eager to try new product developments.

Early Adopters

The 13.5% of market adopters who evaluate innovator feedback and serve as influential opinion leaders in expanding new product acceptance.

Laggards

The final 16% of adopters who resist change, remain bound by tradition, and adopt new products only during the decline phase when forced to by necessity.

Skimming Pricing Strategy

Setting an initial premium price for a new product to extract maximum revenues from high-income early adopters and recover research and development expenses.

Penetration Pricing Strategy

Setting a low initial entry price to capture a large market share, generate rapid sales volume, and build a solid customer base.

Loss Leader Pricing

Intentionally pricing selected products below cost or customary market rates in retail stores to attract shoppers who may then purchase higher-margin merchandise.

Intensive Distribution

A strategy aimed at securing maximum retail placement in as many geographic locations as possible, suitable for mass-market convenience items.

Selective Distribution

Screening dealers and selecting a limited number of regional distribution outlets, typical for shopping goods where dedicated sales support is required.

Exclusive Distribution

Granting a single dealer or retail outlet exclusive territorial rights to sell high-value specialty products.

Integrated Marketing Communication (IMC)

The strategic alignment and integration of all promotional mix channels (advertising, PR, sales promotion, direct marketing, and personal selling) into a single unified voice.