Principles of Management Final Exam

perception

the process by which individuals detect and interpret environmental stimuli

self-enhancement bias

This is the tendency to overestimate our performance and capabilities and see ourselves in a more positive light than others see us

self-effacement bias (modesty bias)

This is the tendency to underestimate our performance and capabilities and to see events in a way that puts ourselves in a more negative light.

5 Big Personality Traits

Openness, conscientiousness, extraversion, agreeableness, neuroticism

Self-monitoring personality

the extent to which a person is capable of monitoring his or her actions and appearance in social situations

Proactive personality

a person’s inclination to fix what is wrong, change things, and use initiative to solve problems.

Self-efficacy

a belief that one can perform a specific task successfully

Values

people’s stable life goals, reflecting what is most important to them

Self-esteem

the degree to which a person has overall positive feelings about himself or herself

false consensus error

we overestimate how similar we are to other people

self-fulfilling prophecy

established stereotype causes one to behave in a certain way, which leads the other party to behave in a way that confirms the stereotype

Selective perception

we pay selective attention to parts of the environment while ignoring other parts, which is particularly important during the planning process

High degree of overlap in the workplace

job satisfaction and organizational commitment

psychological contract

the unspoken, informal understanding that an employee will contribute certain things to the organization and will receive certain things in return

Job performance

the level to which an employee successfully fulfills the factors included in the job description

Four key work behaviors

job performance, organizational citizenship behaviors, absenteeism, and turnover

Goals

outcome statements that define what an organization is trying to accomplish, both programmatically and organizationally

Objectives

very precise, time-based, measurable actions that support the completion of a goal

Balanced Scorecard

goals and objectives for the subareas of customers, learning and growth, internal processes, and financial performance

Translating the vision, Communicating and linking, Business planning, Feedback and learning

particularly by more clearly tying goals and objectives to vision, mission, and strategy and branching out beyond purely financial goals and objectives

communication

a process by which information is exchanged between individuals through a common system of symbols, signs, or behavior

barriers to effective communication

filtering, selective perception, information overload, emotional disconnects, lack of source familiarity or credibility, workplace gossip, semantics, gender differences, differences in meaning between Sender and Receiver, and biased language

Filtering

distortion or withholding of information to manage a person’s reactions

Selective Perception

filtering what we see and hear to suit our own needs

Information overload

occurring when the information processing demands on an individual’s time to perform

interactions and internal calculations exceed the supply or capacity of time available for such processing

Emotional disconnects

the Sender or the Receiver is upset, whether about the subject at hand or about some unrelated incident that may have happened earlier

Lack of source familiarity or credibility

can derail communications, especially when humor is involved

Semantics

the study of meaning in communication. Words can mean different things to different people

Gender differences

men and women think different

Differences in meaning

Different words mean different things to different people.

Biased Language

can offend or stereotype others on the basis of their personal or group affiliation

Storytelling

it serves an important organizational function by helping to construct common meanings for individuals within the organization

Vertical communication

down from management or up from front-line.

Horizontal communication

sender to receiver

Groups

a collection of individuals who interact with each other such that one person’s actions have an impact on the others

Informal groups

made up of two or more individuals who are associated with one another in ways not prescribed by the formal organization

Formal Group

is made up of managers, subordinates, or both with close associations among group members that influence the behavior of individuals in the group

Storming

Once group members feel sufficiently safe and included, they tend to enter this phase. Participants focus less on keeping their guard up as they shed social facades, becoming more authentic and more argumentative

Norming

Group members often feel elated at this point, and they are much more committed to each other and the group’s goal

Performing

Galvanized by a sense of shared vision and a feeling of unity, the group is ready to go into high gear. Members are more interdependent, individuality and differences are respected, and group members feel themselves to be part of a greater entity

Adjourning

Just as groups form, so do they end. For example, many groups or teams formed in a business context are project-oriented and therefore are temporary

Social loafing

the tendency of individuals to put in less effort when working in a group context

Collective efficacy

a group’s perception of its ability to successfully perform well

Team

a cohesive coalition of people working together to achieve mutual goals

Process loss

is any aspect of group interaction that inhibits group functioning

Task interdependence

the degree that team members depend on one another to get information, support, or materials from other team members to be effective

Pooled interdependence

when team members may work independently and simply combine their efforts to create the team’s output

Self-managed teams

these teams manage themselves and do not report directly to a supervisor. Instead, team members select their own leader, and they may even take turns in the leadership role

Barriers to effective teams

the challenges of knowing where to begin, dominating team members, the poor performance of team members, and poorly managed team conflict

Motivation

the intention of achieving a goal

Maslow’s hierarchy of needs

categorizes human needs into physiological, safety, social, esteem, and self actualization needs

ERG theory

Clayton Alderfer, Existence (physiological and safety), Relatedness (social needs), and Growth (esteem and self actualization)

Two-Factor Theory

Herzberg , differentiates between factors that make people dissatisfied on the job (hygiene factors) and factors that truly motivate employees (satisfaction)

Acquired needs theory

McClelland, argues that individuals possess stable and dominant motives to achieve, acquire power, or affiliate with others

Equity Theory

employees are demotivated when they view reward distribution as unfair. In addition to distributive justice, research identified two other types of fairness (procedural and interactional), which also affect worker reactions and motivation

Expectancy Theory

employees are motivated when they believe that their effort will lead to high performance, that their performance will lead to outcomes (instrumentality), and that the outcomes following performance are desirable (valence).

Reinforcement theory

argues that behavior is a function of its consequences

Strategic human resource management (SHRM)

HR—selection, placement, job design, and compensation—need to be aligned with the company’s strategy so that the right employees are hired for the right jobs and rewarded properly for their contributions to furthering the company’s goals

Human Capital

the set of skills that you have acquired on the job, through training and experience, and which increase your value in the marketplace

Talent management

as anticipating the need for human capital and setting a plan to meet it

succession planning

the process whereby an organization ensures that employees are recruited and developed to fill each key role within the company