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Business Managment > 4to Semestre Parcial1 > Flashcards

4to Semestre Parcial1 Flashcards

1
Q

Define

A

Definition

Relation to the case

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2
Q

Calculate

A 
Presentation
Correct answer(giving procedure)
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3
Q

Graph the break-even

A

Mention correctly axis, mention it in the “x” axis, in the “y” axis include the cost/income $
Graph correcty the lines
NO abbreviations

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4
Q

Describe/ mention/ identify/ complete

A

Intro
Bullets of what?/ which? And the relation of the case(min and max 4 )
Conclusión

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5
Q

Compare/ contrast/ distinguish/ explain/ elaborate

A

Intro
Bullets of what?/which? And why? And the relation to the case(min and max 4)
Conclusión

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6
Q

Examine/Analyse/ Apply/ Interpret:

A

Intro
Definition of topic in issue
Bullets of what?/which? And why? the relation that has to the case
And what’s missing/ remains?

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7
Q

Examine/ analyse/ apply/ interpret:

A 
Intro
Definition of topic in issue
Bullets of what?/which? And why?
The relation to the case and what’s missing/remains pending
(Min and mx 4)
Strategic conclusion
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8
Q

Discuss/ evaluate/ justify/ to what extent?/ Recommend

A 
Intro
Definition of topic in issue
Advantages and disadvantages each  one(min3 max4) 
what?/which? 
 why?
Relation to the case
What’s missing/remains pending?
And strategic conclusion
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9
Q

For a business to function more efficiently they can have:

A

Accountability and responsability

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10
Q

Delegation:

A

Passing on of control and authority to others, can also motivate and develop employees.

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11
Q

Span of control:

A

Number of people who are directly accountable to a manager

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12
Q

Advantage and disadvantage of spam of control:

A

Advantage is that fewer layers are needed in the hierarchy, this helps with the cost control.
Disadvantage if the team is larger it will tend to suffer from communication problems which may cause tension and conflict

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13
Q

The degree of control granted to a manager depends on several factors, which can be remembered by the acronym MOST:

A

Manager, organizational culture, subordinates, and task

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14
Q

Difference in a wide and narrow span of control:

A

Wide has less levels and narrow has more.

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15
Q

What does hierarchy(business) means?

A

The organizational structure based on a ranking system.

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16
Q

What is chain of command?

A

The formal line of authority through wich orders are passed down in an organization.

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17
Q

What is delayering?

A

Process of removing one or more levels in the hierarchy to flatten the organizational structure. This reduces the number of layers and widens the span of control.

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18
Q

Advantages of delayering:

A

Reduces cost by removing levels of managment

Improves the speed of communication flows bu flattening hierarchical structures

Encourages delegation and empowerment as wider spans of control should provide more oportunities for employees to take on wider responsabilities.

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19
Q

Disadvantges of delayering:

A

Creates anxiety and a sense of insecurity among workers who are worried about their jobs
Overloads staff as their workload increases
Managers deal with larger teams, so decision-making can take longer.

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20
Q

Middle manager:

A

People in charge of running departments of an organization

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21
Q

Bureaucracy

A

Execution of tasks that are governed by official administrative and formal rules of an organization

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22
Q

Centralized structure:

A

Decision making is made by a very small number of people. Usually the senior management team, simply hold onto decision-making authority and responsability.

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23
Q

Decentralized structure:

A

Decision-making authority and responsability is shared with others

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24
Q

Advantages of centralization:

A

Rapid decision making
Better control
Better sense of direction
Efficiency

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25
Q

Disadvantage of centralization:

A

Added pressure/stress for senior staff
Inflexibility
Possible delays in decision-making
Demotivating

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26
Q

Advantages of decentralization:

A 
Input form the workforce(firms can benefit from the skills and expertise of their employees)
Speedier decision-making
Improved morale
Improved accountability
Teamwork
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27
Q

Disadvantages of decentralization:

A 
Costly
Inefficiencies
Greater chances of mistakes
Loss of control
Communication issues
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28
Q

What is organizational chart?

A

Diagrammatic representation of a firm’s formal structure.

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29
Q

Five features of a business(organizational chart):

A

Functional departments, chain of command, span of control, channels of communication and levels of hierarchy

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30
Q

Tall organizational charts/vertical organizational charts:

A

Have many levels in the organizational hierarchy, managers tend to have a narrower span of control

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31
Q

What is flat organizational charts/ horizontal organizational?

A

There are fewer levels, each manager tends to have a wider span of control

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32
Q

Advantages of tall(vertical) structures:

A

There tends to be quicker and more to effective communication within smaller teams
Smaller teams are generally easier to control and manage
Greater specialization and division of labour helps to increase efficiency and productivity
There are greater opportunities for more people to be promoted as more levels exist in the organizational hierarchy.

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33
Q

Advantages of flat(horizontal) structures:

A

Delegation becomes relatively important part of managing the organizaton
Communication should ve improved overall since there are fewer layers in the hierarchy
It is cheaper to operate because there are fewer managers to be hired due to fewer levels in the hierarchy.
Flat structures can help to eliminate a “them and us” culture so workers do not feel alienated from senior management.

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34
Q

There are 3 types of organizational structures:

A

Organizational by product, by function, and by region

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35
Q

Project based organization

A

Allow such business increased flexibility to adjust quickly to market changes and to adopt rapid innovations.

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36
Q

What is handy’s Shamrock organization?

A

People are the most important resource in any organization, and recommends that business ought to place greater emphasis on meeting the needs of workers.

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37
Q

What is matrix structure?

A

This is the flexible organization of employees from different departments within an organization temporarily working together on a particular project.

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38
Q

What is core staff?

A

Consist of full-time professional workers(such as managers and technicians) who handle the daily operations of the business.

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39
Q

Peripheral workers:

A

Also known as contingent workforce, that consist of part-time temporary and portfolio workers who are employed as and when they are needed.

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40
Q

What is communication?

A

Is the transfer of information from one party to another.

41
Q

Shamrock organization?

A

Refers to Charles Handy’s model that organizations are increasingly made up of core staff who are supported by peripheral workers, consultants and outsourced staff and contractors.

42
Q

Functions of management:

A

Refers to the roles and responsibilities of managers.

43
Q

Five functions of management:

A

Planning, commanding, controlling, coordinating, organizing

44
Q

What is a leader?

A

Someone who influences and inspires others to get things done

45
Q

What is leadership?

A

Is the process of influencing and inspiring others to achieve organizational goals

46
Q

Managers:

A

Tend to focus on achieving specific goals within a define timeframe

47
Q

Differences of leadership and management?

A

Leader innovates, people oriented and ask why?

Management implements, task orientated, and ask how?

48
Q

Types of leadership?

A

Autocratic, paternalistic, democratic, situational, laissez-faire

49
Q

What is an autocratic leadership?

A

The one who makes all the decisions and prefers not to delegate respondability

50
Q

What id paternalistic?

A

Treat their employees as of they were family members by guiding them through a consultation process and acting in the best interest of their subordinates. They can be a negative and positive type, when the leader perceives less or highly capable.

51
Q

What is a democratic leadership?

A

The one who involves employees in the decision-making process. They consult staff and consider their views

52
Q

What is laissez-faire?

A

Those who have minimal direct input in the work of employees. They allow subordinates to make their own decisions and to complete tasks in their own way.

53
Q

What is situational leadership?

A

Is not based on any single dominant approach. It is about using the the right leadership style for the right situation. They must be adapt to their culture, leader, task, subordinates and organizational structure.

54
Q

Taylor theory year and name of it:

A

1911, scientific manangement

55
Q

Maslow theory year and name:

A

1943, hierarchy of needs

56
Q

Herzberg theory year and name:

A

1959, two factors of theory

57
Q

Adam’s theory year and name:

A

1963, equity Theory

58
Q

Pink theory year and name:

A

2009, drive theory

59
Q

Focus of the taylor theory:

A

Pay, above all, is the main source of motivation

60
Q

Focus of theory Maslow:

A

Levels of human needs from physiological self-actualisation

61
Q

Focus of the Herzberg:

A

Hygiene factors(which do not motivate alone) and motivators

62
Q

Focus of Adam’s theory:

A

Workers aremotivated of there is fairness in remuneration packages

63
Q

Focus of Pink theory:

A

Autonomy, mastery and purpose are the drivers of motivation in modern societies of the 21st century

64
Q

In taylor theory what’s being ignored/critized?

A

He ignored the non-physical contribution of workers, and non-physical factors that motivate people. Also the workers can be innovative and independent thinkers

65
Q

In Maslow theory what’s critized/ ignored?

A

He assume that everybody was the same, but no, not everyone has the same needs

66
Q

The Herzberg theory what’s being ignored/criticized?

A

It does not apply to many occupations, especially those in low-skilled and low-paid jobs. Employees may not want enriched jobs as this involves extra responsability and stress

67
Q

What’s critized/ignored in Adam’s Theory?

A

Fairness is highly subjective. Some people are more sensitive to issues of equity and cultural variable that can affect perception of fairness

68
Q

What’s critized/ignored in Pink Theory?

A

P

69
Q

Where?/ when?/ how it can work the taylor theory?

A

Companies of industrial works

70
Q

Where?/ when?/ how it can work the maslow theory?

A

In small companies, because of a patenalistic leadership, they motivate the employees they get them like family

71
Q

Where?/ when?/ how it can work theHerzberg theory?

A

In well pay jobs

72
Q

Where?/ when?/ how it can work the Adam’s theory?

A

Where you can measure how much effort the people get in their work. Family business where all the colaborators have the rules very specified

73
Q

Where?/ when?/ how it can work the pink theory?

A

.

74
Q

What is motivation?

A

Desire, effort and passion to achieve somethings, it is the willingness to complete a task or job with enthusiasm

75
Q

Benefits of increasing workers motivation:

A 
Higher morale and job satisfaction
Lower staff turnover
Better industrial relations
Improves corporate image 
lower absentees
Higher profitability
76
Q

5 needs of Maslow hierarchy:

A

Physiological, safety, love/belonging, esteem, self-actualization

77
Q

Hygiene factors of Herzberg Theory:

A

Working conditions
Salary
Status
Security

78
Q

Motivation factors of Herzberg Theory:

A

Achievement
Recognition for achievement
Interest in the job
Responsability for tasks

79
Q

3 motivators of Herzberg:

A 
Job enlargement(giving workers variety in what they do in the same level)
Job enrichment(giving workers more complex and challening task in a higher level)
Job empowerment( delegating decision-making power workers over their areas of job)
80
Q

Factors of Pink theory?

A

Autonomy, Mastery, Purpose

81
Q

What is autonomy?

A

Whether is in tasks, time, technique or team

82
Q

What is mastery?

A

Improvement in work and development their skills and expertise

83
Q

What is purpose?

A

The perception of purpose is essential. If people understand their individual roles in the organizational vision it’s more likely they feel satisfied in their work

84
Q

What is a financial reward?

A

Method that business can use to mtivate workers by using form of monetary payment

85
Q

Examples of financial rewards:

A

Salary(by year)
Wages( by time or piece rate)
Commission
Profit related pay(depends of how much the company gets, is how you will be pay)

86
Q

What is non-financial rewards?

A

There are not monetary factors that motivate people by offering psychological and intangible benefits. Like Pink and Maslow

87
Q

What is human resources?

A

Is the function of using snd developing people within a business to meet its organizational objectives.

88
Q

Labour turnover?

A

Measures the percentage of the workforce that leaves the organization in a give time period

89
Q

What is induction training?

A

Is a type of on-the-job training aimed at introducing new employees to the organization, the purpose is to help new recruits to settle in quicker.

90
Q

What is mentoring?

A

To support and encourage people to mange their own learning in order they they may maximized their potential, develop their skills, improve their performance and become the person they want to be

91
Q

What is cognitive training?

A

Training and developing mental skills to improve work performance, based on the notion that the ability to learn is fundamental to sucess in the workplace

92
Q

What is an appraisal?

A

Formal assesment of an employee’s performance in fulfilling his/her job based on the tasks and responsibilities set out in their job description.

93
Q

What is a redundancies?

A

Occur when a business can no longer afford to employ the worker or when the job ceases to exist

94
Q

What is job analysis?

A

Part of the recruitment process that involves scrutinising the different components of a job to determine what it entails

95
Q

What is recruitment?

A

Refers to the process of hiring suitable workers, this entails a thorough job analysis to ensure that the best candidate is hired

96
Q

Intrepreneurs?

A

Act of behaving like an entrepreneur while working within a large organization. Is known as the practice of a corporate management style that integrates risk-taking and innovation approaches

97
Q

What is sale targets?

A

A specified a amount of sales that a management sets for achieving or exceeding within a specified timeframe

98
Q

What is a public limited company?

A

Type of a public company that can sell their shares to the general public and has limited liability

99
Q

What are the reasons to gain more revenue streams?

A

To reduce cash flows
To grow, expand
To help charities

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