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What is essential for career success today according to the changing nature of work?

Flexibility, free agency, skill portfolios, and entrepreneurship.

What is intellectual capital?

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

How is intellectual capital calculated?

Intellectual capital = Competency x Commitment.

Who dominates workplaces in modern organizations?

Knowledge workers whose minds and creativity are critical assets.

What is Tech IQ?

The ability to use and stay updated on current technologies.

What has globalization led to in business?

Increased interdependence of resource flows, product markets, and business competition globally.

What is job migration?

The shifting of jobs from one country to another.

What is reshoring?

The shift of manufacturing and jobs back home from overseas.

Why is ethical behavior important for organizations?

It is an important expectation for organizations and their leaders.

What challenges does workplace diversity present?

Prejudice and discrimination remain challenges.

What are the elements of the management process?

Planning, organizing, leading, and controlling.

What do effective managers help others achieve?

Both high performance and satisfaction at work.

What is accountability in management?

The requirement to show performance results to a supervisor.

Define a top manager.

A manager who sets strategy and leads the organization.

What is the role of middle managers?

To coordinate activities in large departments or divisions.

What type of manager supports the performance of frontline workers?

First-line managers or team leaders.

Who are line managers?

Managers responsible for work that directly contributes to outputs.

What do staff managers do?

Use technical expertise to advise and support line workers.

Define functional managers.

Managers responsible for a single area of activity.

Who are general managers?

Managers responsible for activities covering many functional areas.

What are the four functions of management?

Planning, organizing, leading, and controlling.

What is the primary focus of performance effectiveness?

Goal accomplishment.

What is performance efficiency?

An input measure of resource utilization.

What is meant by human capital in organizations?

Valuing human capital, teamwork, technology, and sustainability.

What is the focus of the Planning function in management?

Setting objectives and determining how to achieve them.

What does organizing in management involve?

Arranging tasks, people, and resources to accomplish the work.

What does leading encompass in management?

Inspiring people to work hard to achieve high performance.

What is controlling in management?

Measuring performance and taking action to ensure desired results.

What commitment does career success require?

A commitment to lifelong learning from all daily experiences and opportunities.

What are the three essential managerial skills?

Technical skills, human skills, and conceptual skills.

What is the importance of self-awareness for a manager?

Critical for developing management skills.

Define accountability in a managerial context.

The requirement to show performance results to a supervisor.

What is the role of a board of directors in an organization?

To ensure an organization is well run and managed lawfully and ethically.

What is bureaucracy in organizational structure?

A rational and efficient form of organization founded on logic and authority.

What do effective managers focus on in terms of relationships?

Supporting, supervising, and activating work efforts of others.

What is the primary advantage of a functional organizational structure?

Economies of scale and high-quality technical problem solving.

What does a matrix organizational structure combine?

Functional and divisional approaches.

Identify a disadvantage of divisional organizational structure.

Increased costs and potential for unhealthy rivalries.

What distinguishes an adaptive organization?

It operates with a minimum of bureaucratic features and encourages empowerment.

What do effective teams utilize in team structures?

Permanent and temporary cross-functional teams to improve relations.

What is the focus of strategic planning?

Setting long-term directions and guiding resource allocation.

What does an operational plan guide?

Behavior and describes what needs to be done in the short-term to support goals.

What is scenario planning in management?

Identifying possible future scenarios and planning to manage them.

What is organizational culture?

The predominant value system for the organization as a whole.

What challenges do managers face in a matrix structure?

Potential for power struggles and higher costs.

Define transformational leadership.

Leadership that inspires followers to achieve extraordinary performance.

What does servant leadership emphasize?

Focusing on empowering others and helping them utilize their talents.

What does the concept of emotional intelligence in leadership involve?

The ability to understand and manage emotions of oneself and others.

What does the 'gender similarities hypothesis' suggest?

Men and women have similar psychological properties.

How does the Vroom-Jago model suggest leaders should decide on participation in decision-making?

Leaders should choose methods that fit the problem situation.

What is the main purpose of participatory planning?

To include people affected by the plans which increases acceptance.

What are substitutes for leadership?

Factors that can direct work efforts without a leader's involvement.

What stance does moral leadership adhere to?

Ethical standards and consistency in actions.

What is strategic intent?

The focus on a unifying and compelling goal.

What describes a competitive strategy?

An organization's ability to outperform competitors.

What does corporate-level strategy direct?

The organization as a whole toward sustainable competitive advantage.

What is characteristic of an entrepreneurial mindset?

Risk-taking behavior leading to new opportunities.

How are performance threats defined?

Situations where actual performance is less than desired.

What are key components of an effective business model?

Generating revenues greater than costs.

What does crisis decision-making involve?

Quick resolution of unexpected problems to avoid disaster.

What defines transformational leadership?

Leaders who inspire change and extraordinary efforts from followers.

What key management competency involves technological understanding?

Technological competency.

What describes the process of analyzing organizational strengths and weaknesses?

SWOT analysis.

What does benchmarking identify?

Best practices using external and internal comparisons.

What is the focus of growth strategies in businesses?

Expanding operations or product lines.

How are long-term plans different from short-term plans?

Long-term plans look 3+ years ahead, while short-term plans cover 1 year or less.

What benefit does effective time management provide in planning?

Helps prioritize tasks by importance and urgency.

What characterizes the uncertainty avoidance dimension of culture?

The degree to which a society tolerates risk and ambiguity.

What is the primary focus of developing SMART goals?

Specific, Measurable, Attainable, Relevant, and Timely objectives.

What is a key characteristic of participatory planning?

Includes input from those directly affected by the plans.

What is a fundamental aspect of traditional organizational structures?

Creating defined roles and responsibilities among staff.

What does the concept of strategic control entail?

Ensuring strategies are well implemented and modified as needed.

What is power in a leadership context?

The ability to get others to do something you want done.

What type of leadership style focuses on both tasks and relationships?

Democratic style.

What is leadership double bind referring to?

Criticism women face for differing leadership styles.

What is the implied role of the board of directors according to corporate governance?

To oversee management decisions and performance.

Define strategic alliances in competitive strategies.

Partnerships to pursue mutual interests.

What type of organization structure focuses on individual projects?

Project teams.

Identify a key term that indicates a cooperative agreement in business.

Strategic alliance.

What does emotional intelligence in leadership facilitate?

Understanding and managing the emotions of oneself and others.

What is the goal of strategic management?

To formulate and implement strategies that accomplish long-term goals.

Describe the approach under Fiedler's Contingency Model.

Match leadership style to situational favorability.

What defines a laissez-faire leadership style?

Minimal concern for task and allowing group decision-making.

In House's Path-Goal Theory, what is a key aim of leaders?

To add value by using appropriate leadership styles.

What signifies a focus on corporate social responsibility for managers?

Balancing business objectives with social welfare.

What does the term 'coerce power' indicate in leadership?

The capacity to punish or influence through negative consequences.

What is the focus of the 'leader-member exchange' theory?

The relationships and interactions between leaders and followers.

Define the aspects of charismatic leadership.

Involving personality traits that inspire followers.

Identify a significant outcome of high emotional intelligence in leaders.

Better leadership effectiveness and team performance.

What are the criteria for evaluating decision-making alternatives?

Costs, timelines, ethical soundness, and benefits.

What is the purpose of crisis management in organizations?

To effectively address unexpected problems that could damage the organization.

What does strategic planning encompass in terms of goal setting?

Formulating roles, objectives, and strategies for the future.

Define cultural intelligence in the context of global management.

The ability to adapt and effectively interact across cultures.

What is a lapse in participatory planning often result in?

Lack of commitment from employees to implement the plans.

How does networking play a role in management effectiveness?

Establish important relationships that facilitate the accomplishment of tasks.

Define organizing as a fundamental management function.

The process of arranging and integrating resources to achieve goals.

What is the function of a virtual organization?

Utilizes technology to connect a network of remote workers.

Describe what 'empowerment' means in management.

Allowing subordinates to make decisions and exercise discretion.

What characterizes the ‘inclusive culture’ in organizations?

Encouragement of open communication and diversity to foster collaboration.

Define the structure of a boundaryless organization.

Eliminates internal and external boundaries to enhance communication.