Studied by 4 people
Looks like no one added any tags here yet for you.
Intellectual Capital
the collective brain power or shared knowledge of a workforce
Knowledge Workers
Workers whose intelligence is a critical asset to employers
Glass Ceiling Effect
an invisible barrier limiting career advancement of minorities
Globalization
the world interdependence of resource flows, product markets, and business conditions
Organization
a collection of people working together to achieve a common purpose
Productivity
the quantity and quality of work performance relative to the cost of inputs
Performance Effectiveness
An output measure of task or goal accomplishment
Performance Efficeincy
An input measure of resource cost associated with goal accomplishment
General Environment
composed of economic, legal-political, technological, socio-cultural, and natural environment conditions
Sustainable Business
A business that both meets customer needs and protects the well being of the environment
Sustainable Innovation
New products and production methods that have reduced impact on the environment
Specific Environment
people and groups with whom the organization interacts
Stakeholders
persons, groups, and institutions directly affected by an organization
Competitive Advantage
something an organization does extremely well, a core competency that sets it apart from competitors
which can be achieved through costs, quality, delivery, and flexibility
Environmental Uncertainty
the lack of complete information about the environment
Organizational Effectiveness
sustainable high performance in using resources to accomplish mission and objectives
Manager
A person in an organization who directly supports,supervises, and helps activate the work efforts and performance of others
Top Managers
Managers responsible for performance of an organization as a whole or for one of its larger parts
Middle Managers
Managers in charge of relatively large departments or divisions
Supervisors
Managers in charge of a small work group of non-managerial workers
Line Managers
Managers responsible for work activities that directly affect organization's outputs
Staff Managers
Managers that use technical expertise to advise and support the efforts of line workers
Functional Managers
Managers responsible for a single area of activity
General Managers
managers responsible for more complex units that include many functional areas
Management
process of planning, organizing, leading, and controlling the use of resources to accomplish goals
Leading
The process of arousing enthusiasm and inspiring efforts to achieve goals
Useful Information
Information that is timely, high quality, complete, relevant, and understandable
Information Technology
Application of computers and telecom equipment to store, retrieve, transmit, an manipulate data
Business Intelligence
taps information systems to extract and report data in organized ways that are helpful to decision makers
Management Information Systems
uses IT to collect, organize, and distribute data for use in decision making
Problem Solving
identifying and taking action to resolve problems
Problem Avoiders
Inactive in information gathering and solving problems
Problem Solvers
Reactive in gathering information and solving problems
Problem Seekers
Proactive in anticipating problems and opportunities and taking appropriate action to gain an advantage
Strategic Opportunism
Focuses on long term objectives while being flexible in dealing with short term problems
Structured Problems
Routine recurring problems that are best solved using programmed decisions
Programmed Decisions
Solutions to problems that are readily available from past experiences to solve structured problems
Unstructured Problems
New and unusual situations which non-programmed decisions
Non Programmed Decisions
Decisons that use specific solutions crafted for a unique problem
Certain Environments
Offer complete information about possible action alternatives and their outcomes
Risk Environments
Environments that lack complete information about action alternatives and their consequences, but offer some estimates of probabilities of outcomes for possible action alternatives
Uncertain Environments
An environment in which Information is so poor that probabilities cannot be assigned to likely outcomes of known action alternatives.
Optimizing Decision
Choosing the absolute best decision among alternatives
Satisficing Decision
Choosing the first "satisfactory" alternative
Global Economy
Resources, markets, and competition are worldwide in scope
Global Sourcing
The process of purchasing materials, manufacturing components, or business services from around the world for local use
Licensing Agreement
A local firm pays a fee to a foreign firm for rights to make or sell its products in a particular region
Franchising
A form of licensing in which the foreign firm buys the rights to use another name and operating methods in its home country
Foreign Direct Investment
Building, buying all or part ownership of a business in a foreign country
Global Strategic Alliance
A partnership in which foreign and domestic firms share resources and knowledge for mutual gains
Foreign Subsidiary
local operation completely owned by a foreign firm
Greenfield Investment
building an entirely new operation in a foreign country
Political Risk
A potential loss of value of foreign investment due to instability and changes in host country
Local Legal Systems
complex and unfamiliar laws can create problems
Protectionism
Giving favourable treatments to domestic businesses
Multinational Corporations
business firms with extensive international operations in foreign countries
Transnational Corporation
Operates on a worldwide borderless basis
Ethnocentrism
tendency to consider one's own culture as superior to others
Ethnocentric Attitude
Believes the best approaches are found at home and tightly control foreign operations
Polycentric Attitude
Respects local knowledge and allows foreign operations to run with substantial freedom
Geocentric Attitudes
High in cultural intelligence and take a collaborative approach to global management practices.
Open Systems
transforms resource inputs from the environment into product outputs
Analytics
the systematic gathering and processing of data to make informed decisions.
Joint Ventures
Operating in a foreign country through co ownership by foreign and local partners
Scientific Management
Management approach that emphasizes careful selection and training of workers and supervisory support.
Modern Management
Management approach that uses a quantitative and evidence based apporach
Bureaucracy
a rational and efficient form of organization founded on logic, order, and legitimate authority
Administrative Principles
Fourteen principles developed by Henri Fayol that suggest managers should learn the management functions of planning organizing,leading, and controlling
Scalar Chain Principle
Administrative prinicple that states there should be a clear and unbroken line of communication from the top to the bottom of the organization
Unity of Command
Administrative prinicple that states each person should receive orders from only one boss
Unity of Direction Principle
Administrative prinicple that states one person should be in charge of all activities that have the same performance objectives
Bureaucratic Organization
Organizations should have a clear hierarchy with formal rules and well-defined jobs
Hawthorn Effect
The tendency of persons singled out for attention to perform as expected
Human Relations Movement
Movement that suggests that managers using good human relations will achieve productivity
Theory X
Assumes people dislike work, lack ambition, act irresponsibly, and prefer to be led
Theory Y
Assumes people are willing to work,like responsibility, and are self directed and creative
Adult Personality Theory
states people in the workplace are adults and may react negatively when constrained by strict management practices and rigid organizational structure
Management Science
Use quantitative analysis and applied mathematics to solve problems
Operations Management
the study of how organizations produce goods and services
Contingency Thinking
Tries to match management practices with situational needs
Knowledge Management
The process of using intellectual capital for competitive advantage
Learning Organization
An organization that continuously changes and improves using the lessons of experience
High Performance Organization
An organization that consistently achieves excellence while creating a high quality work environment
Evidence Based Management
Management that involves making decisions based on hard facts about what really works
Enterprise Resource Planner
Information Technology used for inventory planning, purchasing, and keeping organizational objectives clear
RFID
Tags that transfer data without physical contact that track goods and indicate where they belong.
Efficiency
how well resources are used
Effectiveness
how well objectives are acheived
Planning
the process of setting objectives and determining how to accomplish them
Strategic Plan
Plan that identifies long term directions for the organization
Tactical Plans
plans that help to implement all or parts of a strategic plan
Functional Plans
plans that indicate how different operations within the organization will help advance the overall strategy
Operational Plans
plans that identifies short term activities to implement strategic plans
Zero Based Budget
allocates resources as if each budget were brand new
Forecasting
planning aid that attempts to predict future
Contingency Planning
planning that identifies alternative courses of action to take when things go wrong
Scenario Planning
planning that identifies alternative future scenarios and makes plans to deal with each
Benchmarking
Process of using external and internal comparisons to plan for future improvements
Smart Goals
Goals that are specific,measurable,attainable,realistic, and timely
