GMS 200 FINAL EXAM FOR THE GIRLIES 💅

Flexibility

The ability to adapt to changing circumstances in the workplace.

Free agency

A work environment where individuals frequently change jobs and work independently.

Skill portfolios

A collection of skills that an individual possesses to enhance career success.

Entrepreneurship

The process of starting and managing a new business venture.

Intellectual capital

The combined brainpower and shared knowledge of an organization's employees.

Intellectual capital formula

Intellectual capital = Competency x Commitment.

Knowledge workers

Individuals whose minds and creativity are critical assets in the workplace.

High Tech IQ

The ability to use and stay updated on current technologies.

Globalization

The increased interdependence of resource flows, product markets, and business competition globally.

Job migration

The shifting of jobs from one country to another.

Reshoring

The shift of manufacturing and jobs back home from overseas.

Ethical behavior

Actions that align with moral standards and corporate social responsibility.

Diversity in the workforce

The increasing variety of differences among employees, including gender, race, and ethnicity.

Accountability

The requirement to show performance results to a supervisor.

Administrator

A manager in a public or non-profit organization.

Analytics

The systematic analysis of large databases to solve problems and make informed decisions.

Board of directors

A group of people who ensure an organization is well run and managed lawfully and ethically.

Bureaucracy

A rational and efficient form of organization founded on logic, order, and legitimate authority.

Commitment

The degree to which one works to apply their talents and capabilities to important tasks.

Competency

One's personal talents or job-related capabilities.

Conceptual skill

The ability to think analytically to diagnose and solve complex problems.

Controlling

The process of measuring performance and taking action to ensure desired results.

Corporate governance

The active oversight of management decisions and performance by a company's board.

Discrimination

The active denial of full benefits of organizational membership to certain groups.

Emotional intelligence

The ability to manage ourselves and our relationships effectively.

Ethics

The moral standards of what is 'good' and 'right' in one's behavior.

Evidence-based management

Making decisions based on hard facts about what really works.

Free-agent economy

An economy where people change jobs often and work on independent contracts.

Functional managers

Managers responsible for one area like finance, marketing, or production.

General managers

Managers responsible for complex, multifunctional units.

Human skill

The ability to work well in cooperation with other people.

Knowledge worker

Someone whose mind is a critical asset to employers.

Leading

The process of arousing enthusiasm and inspiring efforts to achieve goals.

Line managers

Managers who directly contribute to producing goods or services.

Management process

Planning, organizing, leading, and controlling resources to accomplish goals.

Organizing

The process of defining tasks, allocating resources, and providing support.

Performance effectiveness

An output measure of task or goal accomplishment.

Planning

The process of setting goals and objectives and making plans.

Productivity

The quantity and quality of work performance with resource utilization.

Self-management

The ability to understand oneself, exercise initiative, and learn from experience.

Social capital

A capacity to get things done with the support and help of others.

Staff managers

Managers who use technical expertise to advise and support line workers.

Strategic management

Process of formulating and implementing strategies for competitive advantage.

Tech IQ

The ability to use and stay updated with evolving technology.

Technical skill

The ability to use expertise to perform a task with proficiency.

Workforce diversity

Workers' differences in gender, race, age, ethnicity, religion, and other factors.

Scalar Chain

Defined 14 management principles, including scalar chain, unity of command, and unity of direction.

Bureaucratic Organization

Described an ideal form of organization based on logic, order, and legitimate authority.

Key characteristics of Bureaucracy

Clear division of labor, formal hierarchy, written rules/procedures, impersonality, merit-based careers.

Potential disadvantages of Bureaucracy

Rigidity, resistance to change, employee apathy.

Behavioral Management Approaches

Assume people enjoy social relationships, respond to group pressures, and seek personal fulfillment.

Organizations as Communities

Viewed organizations as communities where managers and workers cooperate without domination.

Hawthorne Studies

Discovered that social setting and 'human relations' can influence worker productivity.

Hawthorne effect

Workers perform better when singled out for special attention.

Theory of Human Needs

Proposed a hierarchy of needs (physiological, safety, social, esteem, self-actualization).

Theory X

Assumes people dislike work and need to be controlled.

Theory Y

Assumes people are self-motivated and capable of self-direction.

Personality and Organization

Argued that traditional management practices may conflict with mature adult personalities.

Quantitative Analysis and Tools

Use of data analytics, mathematical modeling, and quantitative techniques to solve complex problems.

Contingency thinking

Thinking that tries to match management practices with situational demands.

Continuous improvement

The constant search for new ways to improve work quality and performance.

Deficit principle

The notion that a satisfied need does not motivate behavior.

ISO certification

Conformance with a rigorous set of international quality standards.

Learning style

The manner in which an individual prefers to learn through receiving, processing, and recalling new information.

Motion study

The science of reducing a task to its basic physical motions.

Need

A physiological or psychological deficiency that a person feels compelled to satisfy.

Open system

A system that interacts with its environment and transforms resource inputs into outputs.

Organizational behavior

The study of individuals and groups in organizations.

Progression principle

The notion that a need is activated only when the next-lower-level need is satisfied.

Scientific management

A system of management that emphasizes careful alignment of worker training, incentives, and supervisory support with job requirements.

Self-fulfilling prophecy

The phenomenon of an expectation leading to its own fulfillment.

Subsystem

A smaller component of a larger system.

System

A collection of interrelated parts working together for a purpose.

Total quality management

An organization-wide commitment to continuous improvement, product quality, and customer needs.

Cultural intelligence

Ability to adapt, adjust, and work well across cultures.

Culture shock

Confusion and discomfort when interacting with unfamiliar cultures.

Loose cultures

Cultures with relaxed norms and individual expression.

Tight cultures

Cultures with strong norms and conformity expectations.

Power distance

Acceptance of unequal power distribution in society.

Individualism-Collectivism

Focus on individual interests versus group interests.

Uncertainty avoidance

Tolerance for risk and ambiguity in situations.

Masculinity-Femininity

Emphasis on assertiveness versus nurturing relationships.

Time orientation

Preference for short-term versus long-term planning.

Comparative management

Study of how management practices differ across cultures

Perception management

Flexible, curious, non-judgmental

Relationship management

Interested in others, emotionally aware

Global learning goals

Recognize management theories may not apply universally

Hofstede's Cultural Dimensions

A framework for understanding cultural differences

Power Distance

The degree to which a society accepts unequal distribution of power

Uncertainty Avoidance

The degree to which a society tolerates risk and uncertainty

Time Orientation

The degree to which a society emphasizes short-term or long-term goals

Asia Pacific Economic Cooperation

A forum that links 21 countries to promote free trade and investment in the Pacific region

Child labour

The employment of children for work otherwise done by adults

Conflict minerals

Minerals sourced in areas of armed conflict, particularly the Democratic Republic of Congo and surrounding region, whose sale finances armed groups that perpetuate violence

Corruption

The use of illegal practices to further one's business interests

Corruption of Foreign Public Officials Act

A federal act that makes it illegal for Canadian firms and their representatives to engage in corrupt practices overseas

Culture

A shared set of beliefs, values, and patterns of behaviour common to a group of people

Ecological fallacy

The assumption that a generalized cultural value applies equally well to all members of the culture

Ethnocentrism

The tendency to consider one's culture superior to others

Euro

The common currency of many members of the European Union