management 1 flashcards

Management

the art of getting things done through the efforts of other people

Principles of Management

are the means by which you actually get things done through others—individually, in groups, or in organizations.

Academic Fields Relevant to Management

leadership, entrepreneurship, strategy, psychology

Types of Managers

top managers, middle managers, first-line managers, non-managerial employees

Four principal functions (POLC)

planning, organizing, leading, controlling

Organizational performance- triple bottom line

Economic performance, Social performance, Environmental performance

Fayol's Principles of Management

Division of labor, authority and responsibility, unity of command, line of authority, centralization, unity of direction, equity, order, initiative, discipline, remuneration of personnel, stability of tenure of personnel, subordination of individual interest to the common interest, esprit de corps

Scientific management (Taylorism)

a management theory using efficiency experts to examine each work operations and find ways to minimize the time needed to complete it

Behavioral Viewpoint

importance of understanding human behavior and motivating employees toward achievement

Hawthorne effect

A change in a subject's behavior caused simply by the awareness of being studied

Contemporary principals

virtual organizations; evidence based management

Culture

Shared beliefs, customs, and traditions of a specific group of people.

Hofstede's original four dimensions

Power distance, individualism versus collectivism, uncertantity avoidance, masculentity versus femininity

power distance

the extent to which less powerful members within a country expect and accept that power is distributed unequally

Individualism vs. Collectivism

the degree to which individuals beliefs and actions should be independent of collective thought and action (individualism)

Uncertantity avoidance

societys tolerance for ambiguity

Masculinity vs. Femininity

A preference for achievement, heroism, assertiveness and material rewards for success

Personality

a persons relatively stable feelings, thoughts, and behavioral patterns.

Big Five Personality Traits

openness, conscientiousness, extraversion, agreeableness, neuroticism

Conscientiousness

how dependable, responsible, organized and persistent one is

Agreeableness

how trusting, good-natured, cooperative, and soft-hearted one is

Neuroticism

anxiety, insecurity, emotional instability

Openness

willingness to try new things and be open to new experiences

Extraversion

talkative, sociable, passionate, assertive, bold, dominant

self monitors

-understand what the situation demands and act accordingly

-rated as high performers and emerge as leaders

-effective at networking and influencing other people

-as managers, they tend to have lower accuracy in evaluating the performance of their employees

proactive personalities

-Use initiative to solve problems.

-May have higher levels of performance.

-Understand the political environment better, make friends more quickly, and are more responsive to feedback they receive.

-May be perceived as too pushy

self-esteem

is related to higher levels of job satisfaction

self-efficacy

An individual's belief that he or she is capable of performing a task.

Hot issue in personality test

exaggerating your responses to a personality test in a socially desirable fashion

Values

Stable life goals that people have, reflecting what is most important to them

10 human values (Schwartz's Model)

Achievement, power, hedonism, stimulation, self-direction, benevolence, universalism, conformity, tradition, security

Work (Job) Attitudes

The evaluations of one's work (job) that express one's feelings toward, beliefs about, and attachment to one's work (job).

job satisfaction

a positive feeling about one's job resulting from an evaluation of its characteristics

organizational commitment

the attachment people have toward the company they work for.

Three types of organizational commitment

1. Affective Commitment

2. Continuance Commitment

3. Normative Commitment

Work Behaviors

job performance, organizational citizenship, absenteeism, turnover

Job Performance

Employee behaviors that contribute either positively or negatively to the accomplishment of organizational goals

organizational citizenship behavior

voluntary behaviors employees perform to help others and benefit the organization

counterproductive work behavior

voluntary behavior that violates significant organizational norms and threatens the well-being of the organization, its members, or both

absenteeism

the failure to show up for work

turnover

Employee departure from an organization.

Mission Statement

a statement of the organization's purpose - what it wants to accomplish in the larger environment

Vission Statement

provides a guiding image of the future that the org wishes to reach

Value Statement

A brief articulation of the principles that guide a company's decisions and behaviors

creativity

key to success in business

programmed thinking

Logic, structure, extensions of what is

lateral thinking

Shift in perception, out of the box, what might be

Brainstorming

the process of getting a group to think of unlimited ways to vary a product or solve a problem

scamper

A checklist tool that helps you think of changes you can make to an existing marketplace to create something new.

stakeholders (internal)

owners, shareholders, directors, management, employees

Stakeholders (external)

customers, suppliers, and community groups

Stakeholder Analysis

The range of tools used to identify and understand the needs and exception of major interests inside and outside the organization environment

Stakeholder mapping

provides a systematic way to identify the expectations, needs, importance, and relative power of various stakeholders

SWOT analysis

strengths, weaknesses, opportunities, threats

Intended VS Realized Strategies

Intended: decisions following from analysis (rarely survives in original form)

Realized: combination of deliberate and emergent strategies

two dimensions of competition

market commonality and resource similarity

Four generic strategies

cost leadership, differentiation, cost focus, differentiation focus

internal analysis- VRIO

Value, Rarity, Imitability, Organization

Porter's Five Forces

threat of entry, threat of substitute, supplier power, buyer power, and competitive rivalry