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What is the primary concern of management?
Getting work done through others.
Define efficiency in the context of management.
Getting work done with minimum effort, expense, or waste.
What does effectiveness refer to in management?
Accomplishing tasks that help fulfill organizational objectives.
List the four functions of management.
Planning, Organizing, Leading, Controlling.
What is the role of top managers?
Responsible for the overall direction of the organization and creating a positive organizational culture.
What are the responsibilities of middle managers?
Set objectives, plan and allocate resources, link divisions, and monitor performance.
What is the focus of first-line managers?
Manage the performance of entry-level employees and encourage their performance.
What is the role of team leaders in management?
Facilitate team activities and help members plan, learn, and work effectively together.
What are the interpersonal roles of a manager?
Figurehead, Leader, Liaison, Monitor, Disseminator, Spokesperson.
What is the role of a manager as a disturbance handler?
Respond to pressures and problems that demand immediate attention.
Define technical skills in management.
Specialized procedures, techniques, and knowledge required to get the job done.
What are human skills in the context of management?
The ability to work well with others.
What are conceptual skills in management?
Seeing the organization as a whole and understanding how different parts affect each other.
What is the motivation to manage?
Assessment of how enthusiastic employees are about wanting to do their work.
List three common mistakes managers make.
Being insensitive to others, overmanaging, and being unable to think strategically.
What is meant by competitive advantage through people?
Creating a work environment that fosters innovation and productivity without job insecurity.
Who is considered the father of scientific management?
Frederick W. Taylor.
What is soldiering in the context of scientific management?
When workers slow their pace or restrict work output.
What is the purpose of a time study in scientific management?
To determine how long it takes good workers to complete each part of their job.
What did Frank and Lillian Gilbreth contribute to management?
They employed motion study to simplify work and improve productivity.
What is a Gantt chart?
A graphical chart that shows which tasks must be completed at which times to complete a project.
What are the four principles of scientific management?
Develop a science for each element of work, select and train workers, cooperate with workers, and equal division of work.
Define bureaucracy as per Max Weber.
Exercise control based on knowledge, expertise, or experience to achieve organizational goals efficiently.
What are the seven elements that characterize bureaucracies?
Qualification-based hiring, merit-based promotion, and a chain of command.
What do grievance procedures and the right to appeal protect?
They protect people in lower positions.
What is the division of labor?
It refers to the separation of tasks in an organization to improve efficiency.
What is the significance of impartial application of rules and procedures?
It ensures fairness and consistency in management practices.
Why is it important for management decisions to be recorded in writing?
It provides a clear record for accountability and reference.
What is the role of managers in relation to owners in an organization?
Managers should be separate from owners and not manage or supervise the organization.
Who is Henry Fayol and what is his contribution to management?
A French manager who developed five functions of management and 14 principles of management.
What are the five functions of managers according to Henry Fayol?
Planning, organizing, coordinating, commanding, and controlling.
List three of Fayol's 14 principles of management.
Division of work, authority and responsibility, discipline.
What does 'esprit de corps' refer to in management?
A feeling of pride, fellowship, and common loyalty shared by group members.
What is the focus of Human Relations Management?
It focuses on people as valuable organizational resources and emphasizes relationships.
What did Elton Mayo's Hawthorne Studies reveal?
Work-related factors are more important than physical conditions for employee performance.
What is constructive conflict according to Mary Parker Follett?
It is a resolution approach where both parties work together to meet each other's needs.
What is Operations Management concerned with?
Managing the daily production of goods and services using quantitative methods.
Who introduced the concept of manufacturing using standardized, interchangeable parts?
Eli Whitney.
What is a system in the context of Systems Management?
A set of interrelated elements functioning as a whole.
What is the difference between closed and open systems?
Closed systems sustain without interaction; open systems depend on interactions for survival.
What does Contingency Management emphasize?
The effectiveness of management theories depends on the specific problems or situations faced.
What is the external environment in relation to a company?
Events outside a company that can influence or affect its operations.
What is the punctuated equilibrium theory?
It suggests that companies experience long periods of stability interrupted by short periods of dynamic change.
What factors are included in the general environment of an organization?
Economic, technological, sociocultural, and political/legal trends.
What is the customer component in the specific environment?
Elements unique to an industry that directly affect how a company does business.
What is competitive analysis?
The process of monitoring competition by identifying competitors and assessing their strengths and weaknesses.
What is supplier dependence?
The degree to which a company relies on a supplier for critical resources.
What is opportunistic behavior in buyer-supplier relationships?
A transaction where one party benefits at the expense of the other.
What role do federal agencies play in industry regulation?
They administer regulations for consumer safety, environmental use, and competitive practices.
What is the primary goal of advocacy groups?
To influence the business practices of specific industries, businesses, and professions.
What tactic do advocacy groups use to disseminate their message?
Public communications, relying on participation by the news media and advertising industry.
What is media advocacy?
A tactic that frames issues as public concerns and exposes unethical practices to gain media coverage.
What is a product boycott?
A protest against a company's actions by persuading consumers not to purchase its products.
What is environmental scanning in management?
The process of staying updated on important external factors that affect organizational strategies.
How do managers interpret environmental factors?
They assess them as either threats or opportunities and decide how to act in uncertainty.
What are cognitive maps in the context of management?
Graphic depictions of how managers believe environmental factors relate to possible organizational actions.
What constitutes an organization's internal environment?
Events and trends inside the organization that affect management, employees, and culture.
What is organizational culture?
The values, beliefs, and attitudes shared by members of an organization.
How do founders influence organizational culture?
They create images of the company and imprint them with their beliefs, attitudes, and values.
What role do organizational stories play?
They help members make sense of events and emphasize culturally consistent assumptions and actions.
What are visible artifacts in an organization?
Signs of an organization's culture, such as office design, dress code, and employee benefits.
What is ethics in the context of business?
A set of moral principles or values that defines right and wrong for a person or group.
What is workplace deviance?
Unethical behavior that violates organizational norms about right and wrong.
What is production deviance?
Unethical behavior that negatively impacts the quality and quantity of work produced.
What is employee shrinkage?
The theft of company property by employees.
What are the US Sentencing Commission Guidelines for Organizations?
Guidelines that define offenses and encourage companies to prevent white-collar crime.
What factors contribute to ethical intensity?
Magnitude of consequences, social consensus, probability of effect, temporal immediacy, proximity, and concentration of effect.
What is the principle of long-term self-interest in ethical decision-making?
One should never take actions that are not in the long-term interest of the company.
What is a code of ethics?
A document that communicates a company's ethical standards and procedures.
What is social responsibility in business?
The obligation to pursue policies and actions that benefit society.
What is the shareholder model of social responsibility?
The view that an organization's primary goal should be profit maximization for shareholders.
What is the stakeholder model of social responsibility?
The belief that long-term survival is achieved by satisfying the interests of multiple corporate stakeholders.
What are discretionary responsibilities in a business context?
Social roles that a company fulfills beyond its economic, legal, and ethical responsibilities.
What is the purpose of strategic planning in management?
To develop long-term plans that clarify how a company will serve customers and position itself against competitors.
What are S.M.A.R.T. goals?
Goals that are specific, measurable, attainable, realistic, and timely.
What is an action plan in the context of planning?
A plan that lists steps, people, resources, and time needed to achieve a goal.
What are operational plans?
Day-to-day plans developed by lower-level managers for producing or delivering over a short period.
What is the difference between single-use and standing plans?
Single-use plans cover unique events, while standing plans are used repeatedly for recurring events.
What is the role of top management in planning?
They are responsible for developing long-term strategic plans for the organization.
What is Rational Decision-Making?
A systematic process of defining problems, evaluating alternatives, and choosing optimal solutions.
What is the first step in Rational Decision-Making?
Define the problem by being aware of it, motivated to solve it, and having the necessary knowledge, skills, and resources.
What does identifying decision criteria involve?
Establishing standards used to guide decisions.
What are absolute comparisons in decision-making?
Comparing each decision criterion to a standard or ranking it on its own merits.
What are relative comparisons in decision-making?
Comparing each decision criterion directly with every other decision criterion.
What is the purpose of generating alternative courses of action?
To explore different options before making a decision.
What is the final step in the Rational Decision-Making process?
Compute the optimal decision.
What are some limits to Rational Decision-Making?
Managers face real-world constraints such as resource limitations and cognitive biases.
What advantage do groups have in decision-making?
Groups perform better than individuals in defining problems and generating solutions.
What is groupthink?
A barrier caused by pressure within the group for members to agree with each other.
What is C-type conflict?
Cognitive conflict that focuses on problem and issue-related differences.
What is A-type conflict?
Affective conflict that focuses on individuals or personal issues, leading to hostility and distrust.
What is the Devil's advocacy method?
An individual or subgroup is assigned the role of critic to challenge the proposed solution.
What is the Delphi technique?
A method where a panel of experts responds to questions and each other until reaching an agreement.
What is electronic brainstorming?
A method where group members use computers to build on each other's ideas and generate solutions.
What is production blocking in brainstorming?
A disadvantage where a group member must wait to share an idea because another member is presenting.
What is a sustainable competitive advantage?
An advantage that other companies have tried to duplicate but have stopped attempting to replicate.
What is a valuable resource in a competitive context?
A resource that improves efficiency and effectiveness.
What does diversification in corporate strategy aim to achieve?
Reducing risk by acquiring a variety of items to prevent the failure of one stock or business from harming the entire portfolio.
What is the BCG matrix?
A tool that categorizes a corporation's business by growth rate and relative market share to help managers decide on fund allocation.