exam 2 management

bounded rationality

The concept suggesting that the ability of decision makers to be rational is limited by numerous constraints (such as complexity, time, money, and cognitive capacity)

satisficing model

Because of constraints, managers tend to seek alternatives until they find one that is "satisfactory" rather than optimal

intution model

Making a choice without the use of conscious reasoning or logical analysis, rooted in hunch or "gut feeling" (holistic hunch or automated experience

four decision making styles

analytical, conceptual, directive, behavioral

anayltical decision making

High tolerance for ambiguity and task/technical orientation; carefully considers more information and alternatives

conceptual decision making

High tolerance for ambiguity and people orientation; takes a broad perspective, relies on intuition, and discusses many options

directive decision making

Low tolerance for ambiguity and task/technical orientation; efficient, logical, practical, and action-oriented

behavioral decision making

Low tolerance for ambiguity and people orientation; supportive, receptive to suggestions, and prefers avoiding conflict

nine common decision-making biases

availability, representative, confirmation, sunk-cost, anchoring and adjusting, overconfidence, hindsight, framing, escalation of commitment

group decision making

Groups have greater pool of knowledge and better acceptance, but suffer from social loafing, group polarization, and pressure.

group-problem solving techniques

Brainstorming, Nominal Group Technique (silent idea generation), and Delphi Technique (anonymous expert input)

Groupthink

A cohesive group's blind unwillingness to consider alternatives, driven by a desire for unanimity and harmony

4 types of organizational culture

clan, adhoracy, market, hierarchy

clan culture

nternal focus and values flexibility; resembles a family-type organization focusing on collaboration and employee morale

adhocracy culture

External focus and values flexibility; adaptable, creative, and quick to take risks (common in startups)

market culture

External focus and values stability/control; driven by competition, results, customer satisfaction, and getting things done

hierarchy culture

Internal focus and values stability/control; structured, formal environment with formalized rules and control mechanisms

vertical hierarchy

The "chain of command" showing who reports to whom (authority structure

horizontal specialization

Division of labor showing who specializes in what work tasks or departments

basic types of organizational structures

simple, functional, divisional, matrix, horizontal, hollow, modular, virtual

strategic HR management and its flow

he process of planning for, attracting, developing, and retaining an effective workforce so that the organization can reach its goals. It flows from overall organizational mission/strategy to HR strategies (recruitment, training, performance, rewards)

HR planning

Job analysis (determining basic elements of a job), job descriptions, and job specifications

Understanding current employee needs and future needs

Understanding the organization's strategic plan and matching it with workforce forecasting, staffing projections, and skills inventories

external/internal recruiting

internal involves attracting people currently employed within the company (job postings); external involves attracting applicants from outside the organization (job boards, campus career fairs)

realistic job preview

Gives a candidate a picture of both positive and negative features of the job before he or she is hired, lowering turnover expectations

employee referral

Current employees recommending trusted contacts; often yields high-retention hires

(selection) interview

Unstructured (free-flowing conversational) vs. Structured (standardized situational or behavioral questions asked of all applicants)

testing

Employment tests assessing ability, personality, performance (assessment centers), or integrity

other methods

ackground checks, credit checks, reference checks, and drug testing

Performance appraisial/management (objective)

Based on facts and often numerical (e.g., numbers of units sold, defect rates, turnover, or hours worked) rather than personal interpretation

Performance apprasial/management (subjective)

Based on a manager's perceptions, observations, and judgments regarding an employee's traits, behaviors, or overall performance

effective feedback techniques

Focus on specific behaviors rather than the person, keep feedback timely, balance positive feedback with areas for improvement, and ensure it is a two-way conversation

big five personality attitudes

cognitive, affective, behavioral, cognitive dissonance

cognitive attitude

The beliefs and knowledge a person has about a situation, person, or object (e.g., "My job is challenging and helps me grow")

affective attitude

he emotional or feeling segment of an attitude (e.g., "I love my job" or "I am angry over how little I'm paid")

behavioral attitude

An intention to behave in a certain way toward someone or something (e.g., "I'm going to look for another job that pays better")

cognitive dissonance attitude

The psychological discomfort a person experiences when experiencing inconsistency between their attitudes and behavior

Age stereotyping

Judging or making assumptions about people, their capabilities, or their performance based solely on their age

race stereotyping

Making generalized, often inaccurate assumptions or judgments about an individual based on their racial or ethnic background

sex-role stereotyping

The belief that certain gender roles, behaviors, or occupations are more appropriate for one sex than the other

employee engagement

An individual's involvement, satisfaction, and enthusiasm for work; a heightened emotional and intellectual connection that an employee has for their job/organization

job satisfaction

An affective or emotional-related outward response (overall attitude) toward various aspects of one's job

orgizational comitment

he degree to which an employee identifies with a particular organization and its goals, and wishes to maintain membership in it

important workplace behavior

performance, absenteeism/turnover, organizational citizenship behavior, counterproductive work behavior

performance

How well an employee executes their job duties, meets targets, and contributes effectively to organizational goals

absenteeism/turnover

Absenteeism is failure to report to work (missing work); Turnover is the rate at which employees leave an organization voluntarily or involuntarily

organizational citizenship behavior

Discretionary employee behaviors that are not part of formal job requirements but contribute positively to the overall functioning of the organization (e.g., helping coworkers, going above and beyond)

counterproductive work behavior

intentional employee behavior that harms or is contrary to the interests of the organization or its members (e.g., theft, sabotage, gossiping, or tardiness)

rational decsion making

Step 1: identify the problem 2. Think up alternative solutions, 3. Evaluate alternatives and select a solution, 4. Implement and evaluate the solution).

Availability Bias

Using only information readily available from memory to make judgments

Representativeness Bias

he tendency to generalize from a small sample or a single event

Confirmation Bias

Seeking information that supports your point of view and discounting data that does not

Sunk-Cost Bias

Concluding that it is too costly to abandon a project because of all the past money/time already invested

Anchoring and Adjustment Bias

Making decisions based on an initial figure or baseline, failing to adjust adequately

Overconfidence Bias

Blindness to one's own blind spots; being too confident in the accuracy of one's predictions

Hindsight Bias

he tendency of people to view events as more predictable than they really were ("I knew it all along")

Framing Bias

Shaping how a problem is presented to make it look subjectively more attractive or unattractive

Escalation of Commitment Bias

Increasing commitment to a previous decision despite negative information indicating it's wrong

simple organizational structure

Authority centralized in a single person, flat hierarchy, few rules

functional organizational structure

People with similar occupational specialties are put together in formal groups

Divisional organizational structure

People with diverse occupational specialties are put together in formal groups by similar products, customers, or geographic regions

matrix organizational structure

Combines functional and divisional chains of command in a grid so that there are two command structures (e.g., vertical and horizontal)

Horizontal organizational structure

teams or workgroups, either temporary or permanent, are used to improve collaboration and work on shared tasks by breaking down internal boundaries

Hollow organizational structure

The organization has a central core of key functions and outsources other core processes to vendors

Modular organizational structure

Firm assembles product chunks or modules provided by outside contractors

virtual organizational structure

Members are geographically apart, usually working via e-mail, collaborative computing, and other computer connections