gms 200 terms!

intellectual capital

the combined brainpower and shared knowledge of an organization’s employee

tech IQ

a person’s ability to use current technologies at work and in personal life

• check inventory, making a sales transaction, ordering supplies

• telecommuting

• virtual teams

job migration

occurs when firms shift jobs from one country to another

reshoring

the shifting of manufacturing and jobs back home from overseas

ethics

code of moral principles that sets standards of conduct what is “good” and “right”, as well as “bad” and “wrong”

prejudice

the display of negative, irrational opinions and attitudes

discrimination

unfairly treating members of some groups

glass ceiling effect

an invisible barrier or ceiling

organizations consist of three types of workers, sometimes referred to as a

shamrock organization

free-agent economy

people change job more often and work on flexible contracts

self-management

ability to assess oneself realistically, recognize strengths and weaknesses, make constructive changes, and manage personal development

when does value creation occur

• businesses earn a profit

• nonprofit organizations add wealth to society

productivity

an overall measure of the quantity and quality of work performance (outputs) relative to resource utilization (inputs)

performance effectiveness

an output measure of task or goal accomplishment

performance efficiency

an input measure of the resource costs associated with goal accomplishment

managers

directly support, supervise, and help activate the work efforts of others

levels of management

• board of director

• top managers

• middle managers

• team leaders

role of board of directors

makes sure the organization is run well

roles of top managers

for performance of an organization as a whole or for one of its major parts

roles of middle managers

oversee large departments or divisions

roles of team leaders

supervise groups of non-managerial workers

roles of line managers

work activities that directly affect organization’s outputs

roles of staff managers

technical expertise to advise and support the efforts of line workers

roles of functional managers

responsible for a single area of activity

roles of general managers

responsible for more complex units that include many functional areas

roles of administrators

managers who work in public and non-profit organizations

quality of work life (QWL)

an indicator of the overall quality of human experiences in the workplace

QWL indicators

• respect

• fair pay

• safe working conditions

• opportunities to learn and use new skills

• room to grow and progress in a career

• protection of individual rights and wellness

managerial roles: interpersonal

how a manager interacts with other people:

• figurehead

• leader

• liasion

managerial roles: informational roles

how a manager exchanges and processes information:

• monitor

• disseminator

• spokesperson

managerial roles: decisional roles

how a manager uses information in decision making

• entrepreneur

• disturbance handler

• resource allocator

• negotiator

conceptual skills

the ability to think analytically and achieve integrative problem solving

human skills

the ability to work well in cooperation with other persons; emotional intelligence

technical skills

the ability to apply expertise and perform a special task with proficiency

managers must have

• technological competency

• information competency

• analytical competency

technological competency

ability to understand new technologies and to use them to their best advantage

information competency

ability to locate, gather, organize and display information for decision-making and problem solving

analytical competency

ability to evaluate and analyze information to make actual decisions and solve real problems

data vs. information

data (raw facts and observations) vs. information (data made useful and meaningful for decision-making)

characteristics of useful information

• timely

• high quality

• complete

• relevant

• understandable

data mining

the process of analyzing data to produce useful information for decision-makers

business intelligence

taps information systems to extract and report data in organized ways that are useful to decision-makers

data visualization

visually update and display key performance metrics and information on a real time basis through executive dashboards

information exchanges with the external environment

• gather intelligence information

• provide public information

information exchanges within the organization

• facilitate decision-making

• facilitate problem-solving

problem avoiders

inactive in information gathering and solving problems

problem solvers

reactive in gathering information and solving problemsp

problem seekers

proactive in anticipating problems and opportunities and taking appropriate action to gain an advantage

systematic thinking

approaches problems in a ration, step-by-step, and analytical fashion

intuitive feeling

approaches problems in a flexible and spontaneous fashion

multi-dimensional thinking

applies both intuitive and systematic

• requires strategic opportunism

structured problems

ones that are familiar, straightforward and clear with respect to information needs

certain environment

offers factual information on possible action alternatives and their consequences

risk environment

lacks complete information but offers probabilities of the likely outcomes for possible action alternativesun

uncertain environment

lacks so much information that it is difficult to assign probabilities to the likely outcomes of alternatives

availability bias

bases a decision on recent information or events of which the information is “readily available”

representativeness bias

bases a decision on similarity to other stereotypical set of situations

anchoring and adjustment bias

bases a decision on incremental adjustment from a prior decision point/value

framing error

trying to solve a problem in the context perceived, positive or negative

confirmation error

focusing on information that confirms a decision already made

escalating commitment

continuing a course of action even though it is not working

frederick taylor’s guiding principles of scientific management

1. develop a “science” that rules of motion, standardized work implements, and proper working conditions for every job

2. carefully select workers with the right abilities for the jobs

3. carefully train workers to do the job and give them incentives to cooperate with the job “science”

4. support workers by carefully planning their task and by smoothing the way as they do their work

henri fayol administrative principles

• foresight

• organization

• command

• coordination

• control

max weber’s bureaucratic organization

bureaucracy

• an ideal, intentionally ratioal, and very efficient form of organization

• based on principles of logic, order, and legitimate authority

• believed that it would use resources more efficiently and treat employees more fairly

characteristics of bureaucratic organizations

• clear division of labor

• clear hierarchy of authority

• formal rules and procedures (often in written)

• impersonality (ie. no one receiving preferential treatment)

• careers based on merit (ability, performance)

possible issues resulted from bureaucracy

• excessive paperwork or “red tape”

• slowness in handling problems

• rigidity in the face of shifting customer needs. high resistance to change

• employee apathy

mcgregor theory of X

assumes that workers

• dislike work

• lack ambition

• are irresponsible

• resist change

• prefer to be led

mcgregor theory of Y

assumes that workers are:

• willing to work hard

• willing to accept responsibility

• capable of self control

• capable of self-direction

• imaginative and creative

strategic plans

set broad, comprehensive, and longer-term action directions for the entire organization or a major division

tactical plans

specify how the organization’s resources are used in specific areas in order to implement strategy (often take the form of functional plans)

functional plans

indicate how different components within the organization will help accomplish the overall strategy

• production, financial, facilities, logistics, marketing, human resources

operational plans

describe short-term activities to implement strategic plans

forecasting

• attempts to predict the future

• qualitative forecasting uses expert opinions

• quantitative forecating uses mathematical models and statistical analysis of historical data and surveys

contingency planning

• identifying alternative courses of action to take when things go wrong

• anticipates changing conditions

• contain trigger points to indicate when to activate alternatives

scenario planning

• long-term version of contingency planning

• identifying alternative future scenarios

• plans made for each future scenario

• increases organization’s flexibility and preparation for future shocks

benchmarking

• use of external and internal comparisons to better evaluate current performance

• adopting best practices: things people and organizations do that lead to superior performance

cultural intelligence

the ability to adapt and adjust to new cultures

ethnocentrism

it is a tendency to consider one’s own culture as superior to others

stages in adjusting a new culture

1. confusion

2. small victories

3. the honeymoon

4. irritation and anger

edward hall’s silent language of culture

• context

• time

• space

low context culture

emphasize communication via spoken or written words

• US, CANADA, GERMANY

high context cultures

rely on nonverbal and situational cues as wel as on spoken or written words

• THAILAND, MALAYSIA

monochronic cultures

people tend to do one thing at a time

• CANADA

polychronic cultures

time is used to accomplish many different things at once

• EGYPT

proxemics

study of how people use space to communicate

• in NA, people value “personal space”

• many latin and asian cultures expect less personal space

tight and loose cultures

cultural tightness-looseness

• strength of norms that govern social behavior

• tolerance for any deviation from norms

• loose: AUSTRALIA, BRAZIL, HUNGARY

  • tight: JAPAN, KOREA, MALAYSIA

comparative management

management practices systematically differ among countries and/or culture

perception management

flexible and nonjudgmental

relationship management

sensitive to other’s emotions and feelings

self-management

understand her or his own emotions and values