Management Exam 1 Review

figurehead

Involves the handling pf ceremonial & symbolic functions for the organization

leader

Encompasses the relationship with subordinates including motivation, communication, & influence

liaison

Entails the development of information sources both inside & outside the organization

monitor

Involving seeking current information from many sources

Disseminator

The opposite of the monitor role. The manager transmits information to others, both inside & outside

Spokespersons

Invovles transmitting information to outsiders by such means as speeches and reports

negotiatior

Involves representing the team's or department's interests during negotiation of budgets, Union contracts, and purchases

Resource alloocator

Pertains to appropriately physical, informational, financial, and Human Resources in order to attain desired outcomes

Disturbance handler

Invovles resolving conflicts among subordinates between managers, or between departments

Entrepreneur

Involves the initiation of change. Managers seek ways to solve problems or improve operations.

Interpersonal Roles

figurehead, leader, liaison

Informational Roles

monitor, disseminator, spokesperson

Decisional Roles

entrepreneur, disturbance handler, resource allocator, negotiator

Planning

determining organizational goals and a means for achieving them

Organizing

a management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization's goals and objectives

leading

inspiring and motivating workers to work hard to achieve organizational goals

Controlling

monitoring performance, comparing it with goals, and taking corrective action as needed

Universality of Management

the reality that management is needed in all types and sizes of organizations, at all organizational levels, in all organizational areas, and in organizations no matter where located

Efficiency

doing things right, or getting the most output from the least amount of inputs

effectiveness

doing the right things

technical skills

the job-specific knowledge needed to perform well in a specialized field

Top Managers

executives responsible for the overall direction of the organization (higher ups)

Middle Managers

implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them

Front-line managers

lowest level of managers, responsible for the work of operating employees only and do not supervise other managers

Nonmangerial Employees

people who work directly on a job or task and have no responsibility for overseeing the work of others

programmed decision

a repetitive decision that can be handled by a routine approach

non-programmed decision

a decision that is relatively unstructured and occurs much less often than a programmed decision

bounded rationality

decision making that's rational, but limited (bounded) by an individual's ability to process information

analytic style

seek rationality but have a higher tolerance for ambiguity

conceptual style

decision makers who rely on intuition and have a long-term perspective; very broad and consider many alternatives

directive style

have a low tolerance for ambiguity and are oriented toward task and technical concerns in making decisions

behavioral style

the most people-oriented decision makers

Satisficing

choosing a "good enough" alternative

rational decision making

describes choices that are logical and consistent and maximize value

decision criteria

Criteria that define what's important or relevant to resolving a problem

confirmation bias

a tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence

self-serving bias

the tendency for people to take personal credit for success but blame failure on external factors

overconfidence bias

when people's subjective confidence in their decision making is greater than their objective accuracy

selective perception

The phenomenon that people often pay the most attention to things they already agree with and interpret them according to their own predispositions.

Randomness Bias

creating unfounded meaning out of random events

Decision-Making Process

identify the problem identify decision criteria allocating weights to decision criteria developing alternatives analyzing alternatives selecting an alternative evaluate decision effectiveness

heuristics

rules of thumb that simplify decision making

Big Data

a broad term for datasets so large or complex that traditional data processing applications are inadequate.

representation bias

when decision makers assess the likelihood of an event based on how closely it resembles other events or sets of events

symbolic view of management

the view that much of an organization's success or failure is due to external forces outside managers' control

omnipotent view of management

the view that managers are directly responsible for an organization's success or failure

attention to detail

the degree to which employees are expected to exhibit precision, analysis, and attention to detail

environmental uncertainty

the degree of change and complexity in an organization's environment

environmental complexity

the number of components in an organization's environment and the extent of the organization's knowledge about those components

Ethnocentric Attitude

the belief that the best work approaches and practices are those of the home country

Geocentric Attitude

a world-oriented view that focuses on using the best approaches and people from around the globe

Polycentric Attitude

the view that the managers in the host country know the best work approaches and practices for running their business

Parochialism

viewing the world solely through your own perspectives, leading to an inability to recognize differences between people

transnational organization

MNC in which artificial geographical barriers are eliminated

multinational corporation

a broad term that refers to any and all types of international companies that maintain operations in multiple countries

Multidomestic Corporation

an MNC that decentralizes management and other decisions to the local country

Global Company

an MNC that centralizes management and other decisions in the home country

power distance

Degree to which societies accept the idea that inequalities in the power and well-being of their citizens are due to differences in individuals' physical and intellectual capabilities and heritage

deep-level diversity

differences in values, personality, and work preferences that become progressively more important for determining similarity as people get to know one another better

Stereotyping

Judging someone on the basis of one's perception of the group to which that person belongs

Bias

prejudice in favor of or against one thing, person, or group compared with another, usually in a way considered to be unfair.

prejudice

preconceived opinion that is not based on reason or actual experience

glass ceiling

an invisible limit on women's climb up the occupational ladder