Management Exam Review

Management

Getting work done through others

Efficiency

Getting work done with a minimum of effort, expense, or waste

Effectiveness

Accomplishing tasks that help fulfill organizational objectives

Four Functions of Management

Planning, Organizing, Leading, and Controlling

Planning

Determining Organizational Goals and means for achieving them

Organizing

Deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom in the company

Leading

Inspiring and motivating workers to work hard in order to achieve organizational goals

Controlling

Monitoring progress toward goal achievement and taking corrective action when progress isn’t being made

Top Managers

Chief Executive Officer(CEO), Chief Operations Officer(COO), Chief Financial Officer(CFO), and Chief Information Officer(CIO) responsible for the overall direction of the organization

Middle Managers

Plant, regional, or divisional managers responsible for setting objectives consistent with top management’s goals

First Line Managers

Office manager, shift supervisor, or department manager responsible for performance management of employees who are directly responsible for producing a company’s goods or services

Team Leaders

managers responsible for facilitating team activities toward goal accomplishment

Figurehead Role

an interpersonal role where managers perform ceremonial duties such as greeting company visitors, speaking at the opening of a new facility, or representing the company at events.

Leader Role

the interpersonal role where managers motivate and encourage workers to accomplish organizational objectives

Liaison Role

the interpersonal role where managers have to deal with people outside of their unit

Monitor Role

the informational role managers play when they scan their environment for information

Disseminator Role

the informational role where managers share information they have collected with subordinates and others in the company

Spokesperson role

Shares information with people outside their departments and company

Entrepreneurial Role

A decisional role where managers adapt themselves, their subordinates, and their units to change

Disturbance Handler Role

A decisional role where managers respond to pressures and problems so severe that they demand immediate attention and action.

Resource Allocator Role

A decisional role where managers decide who decide who will get what resources and how many resources they will get

Negotiator Role

A decisional role where managers negotiate schedules, projects, goals, outcomes, resources, and employee raises

Technical Skills

specialized procedures, techniques, and knowledge required to get the job done

Human Skills

The ability to work well with others

Conceptual Skills

the ability to see the organization as a whole, understand how different parts affect each other, and recognize how the company fits into or is affected by its environment

Motivation to Manage

an assessment of how motivated employees are about managing the work of others

Scientific Management

Thoroughly studying and testing different work methods to identify the best, most efficient way to complete a job

Soldiering

When an employee intentionally slow their pace or restrict their work output

Rate Buster

A group member who’s work or pace is significantly faster than the normal pace in their group

Motion Study

A study done by Frank and Lillian Gilbreth where they monitored the work of employees by breaking each task or job into its separate motions and then eliminating those that are unnecessary or repetitive

Time Study

Timing how long it takes good workers to complete each part of their jobs

Gantt Chart

A graphical chart that shows which tasks must be completed at which times in order to complete a project or task

Bureaucracy

A fair form of control based on knowledge, expertise, or experience

Integrative Conflict Resolution

both parties indicate their preferences and then work together to find an alternative that meets the needs of both

Organization

system of consciously coordinated activities or forces of two or more persons

System

Set of interrelated elements or parts that function as a whole

Subsystems

Smaller systems within larger systems

Synergy

when two or more subsystems working together can produce more than they can working apart

Contingency Approach

An approach to management that clearly states that there are no universal management theories. It varies based on employees, managers, and overall organization

External Environments

The forces and events outside a company that have the potential to influence or affect it

Organizational Culture

The values, beliefs, and attitudes shared by members of the organization

Three levels of organizational culture

Seen, Heard, Believed

Seen(Surface level)

a level of organization that has symbolic artifacts such as dress codes or workers’ and managers’ behavior

Heard (Expressed values & beliefs)

the level of organization that involves what people say and how decisions are made and explained

Believed (Unconscious assumptions and beliefs)

the level of organization that involves widely shared assumptions and beliefs, opinions deeps below the surface, and things rarely discussed or thought about

Environmental Change

The rate at which a company’s general and specific environments change

Stable Environment

The rate of environmental change is slow

Dynamic Environments

The rate of environmental change is fast

Punctuated Equilibrium Theory

Companies go through long periods of stability(equilibrium) during which incremental changes occur; followed by short, complex periods of a dynamic, fundamental change (revolutionary periods); and finishing a new equilibrium

Environmental complexity

the number and the intensity of external factors in the environment that affect organizations

Simple Environment

environments that have few environmental factors

Complex environment

environments that have many environmental factors

Resource Scarcity

the abundance or shortage of critical organizational resources in an organization’s external environment

Environmental Uncertainty

how well managers can understand or predict the external changes and trends affecting their businesses

General Environment

the economy and the technological, sociocultural, and political/legal trends that indirectly affect all organizations

Specific environment

the customers, competitors, suppliers, industry regulations, and advocacy groups that are unique to an industry and directly affect how a company does business

Business Confidence Indices

Indices that show manager’s level of confidence about future business growth

Technology

the knowledge, tools, and techniques used to transform inputs to outputs

Sociocultural component

the demographic characteristics, general behavior, attitudes, and beliefs of people in a particular society

Political/legal component

the legislation, regulations, and court decisions that govern and regulate business behavior

Competitors

companies in the same industry that sell similar products or services to customers

competitive analysis

deciding who your competitors are, anticipating competitors’ moves, and determining competitors’ strengths and weaknesses

Supplier

companies that provide material, human, financial, and informational resources to other companies

Supplier Dependence

the degree to which a company relies on that supplier because of the importance of the supplier’s product to the company and the difficulty of finding other sources for that product

Buyer dependence

the degree to which a supplier relies on a buyer because of the importance of that buyer to the supplier’s sales and the difficulty of finding other buyers of its products

Opportunistic Behavior

one party benefits at the expense of the other

Relationship behavior

a mutually beneficial, long-term relationship between buyers and suppliers

Industry Regulation

consists of regulations and rules that govern the practices and procedures of specific industries, businesses, and professions

Advocacy groups

groups of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions

Public communications

an advocacy group tactic that relies on voluntary participation by the news media and the advertising industry to get the advocacy group message out

Media advocacy

an advocacy group tactic that involves framing issues as public issues; exposing questionable, exploitative, or unethical practices; and forcing media coverage by buying media time or creating controversy that is likely to receive extensive news coverage

Product Boycott

an advocacy group tactic that involves protesting a company’s actions by persuading consumers not to purchase its product or service

Environmental Scanning

searching the environment for important events or issues that might affect an organization

Cognitive Maps

graphic depictions of how managers believe environmental factors relate to possible organizational actions

Internal Environment

the trends and events within an organization that affect management, employees, and organizational culture

Organizational Culture

the values, beliefs, and attitudes shared by organizational managers

Organizational Stories

stories told by organizational members to make sense of organizational events and changes and to emphasize culturally consistent assumptions, decisions, and actions

Organizational heroes

People celebrated for their qualities and achievements within an organization

Organizational ceremonies

Gatherings in which symbolic acts commemorate or celebrate notable achievements or changes

Company Mission

the business’s purpose or reason for existing

Consistent organizational cultures

a company culture in which the company actively defines and teaches organizational values, beliefs, and attitudes

behavioral addition

the process of having managers and employees perform new behaviors that are central to and symbolic of the new organizational culture that a company wants to create

behavioral substitution

The process of having managers and employees perform new behaviors central to the new organizational culture in place of behaviors that were central to the old organizational culture

Visible Artifacts

visible signs of an organization’s culture, such as the office design and layout, company dress code, and company benefits and perks

Ethics

the set of moral principles or values that defines right and wrong for a person or group

Ethical Behavior

behavior that conforms to a society’s accepted principles of right and wrong

Workplace deviance

unethical behavior that violates organizational norms about right and wrong

Production Deviance

Unethical behavior that hurts the quality and quantity of work produced

Property Deviance

Unethical behavior aimed at the organization’s property or products

Employee shrinkage

Employee theft of company merchandise

Political Deviance

Using one’s influence to harm others in the company

Personal Aggression

Hostile or aggressive behavior towards others

Ethical Intensity

The degree of concern people have about an ethical issue

Magnitude of consequences

the total harm or benefit derived from an ethical decision

Social Consensus

agreement on whether a behavior is good or bad

Probability of effect

the chance that something will happen that results in harm to others

Temporal Immediacy

the time between an act and the consequences the act produces

Proximity of effect

the social, psychological, cultural, or physical distance between a decision maker and those affected by their decision

Concentration of effect

the total harm or benefit that an act produces on the average person

Preconventional level of moral development

the first level of moral development, in which people make decisions based on selfish reasons