ADMN 1000H Final Flashcards
Entrepreneurs are able to perceive the opportunities for entrepreneurial profits by being sensitive to signals in the marketplace. This is known as __________ _____.
Entrepreneurially Alert
Describe the forces for change.
External forces:
- the marketplace
- government laws and regulations
- technology
- the economy
- labour markets
Internal forces:
- changes in strategy
- changes in workforce
- new equipment
- changes in employee attitudes
What is MBO? What are the elements?
Management by Objectives
- Goal specificity
- Participative decision-making
- Explicit time period
- Performance feedback
How do Organizations go international?
Minimal Global Investment - Global Sourcing - Exporting and Important - Licensing - Franchising - Strategic Alliance Joint Venture - Foreign Subsidiary Significant Global Investment
What are wicked problems?
Problems that cannot be solved step by step because they are complex, and each possible solution may create a new problem.
What are the types of problems?
Structured (straightforward, familiar, easily defined) and Unstructured (new, unusual, incomplete or ambiguous info)
What are the type of organizations?
- private sector; publicly held
- privately head organizations
- nonprofit sector
- nongovernmental organizations (NGOs)
- public sector; civil servants, crown corporations
Give some examples of Regional Trading Alliances.
- European Union (EU; 27 countries, use Euro)
- North American Free Trade Agreement (NAFTA)
- Canada-EU Trade
Agreement (CETA) - Association of Southeast Asian Nations (ASEAN)
- African Union (AU; 54 Nations)
- East African Community (EAC)
Describe Hofstede’s Framework for Assessing Cultures.
Individualism vs. Collectivism
Power Distance
Uncertainty Avoidance
Achievement vs. Nurturing
Long-Term vs. Short-Term Orientation
View that managers in the host country know the best approaches and practices for running their businesses is called _________ _________..
Polycentric Attitude
Why Is Entrepreneurship Important?
- Innovation
(new, small organizations account for more than 95% of new and radical product developments) - Number of new start-ups
- Job Creation
(important to overall long-term economic health; 98.2% of businesses in Canada have less than 100 employees) - Global Entrepreneurship
Techniques for reducing resistance to change are:
- Education and communication
- Participation
- Facilitation and support
- Negotiation
- Manipulation and co-optation
- Coercion
Why study management?
- Universality of Management: management is needed in all organizations
- Reality of Work: after graduating, you will either manage or be managed
- The Rewards and Challenges of being a Manager: thankless job, relying on others to get stuff done, etc.
What are the types of international organizations?
- Multinational Corporation
- Multidomestic Corporations
- Global Company
- Transnational or Borderless Organizations
What is Parochialism?
Viewing the world solely through your own perspective, leading to an inability to recognize differences among people.
The characteristics of organization plans are:
- Breadth (Strategic vs operational)
- Time Frame (long vs short-term)
- Specificity (Directional vs specific)
- Frequency of use (single use vs standing)
Describe the GLOBE Framework for Assessing Cultures
Power distance Uncertainty avoidance Assertiveness Humane orientation Future orientation Institutional/collectivism Gender differentiation In-group collectivism Performance orientation
Why do managers plan?
. Provides direction
. Establishes the goals or standards used in controlling
. Reduces uncertainty
. Minimizes waste and redundancy
What are Social Enterprises/Ventures?
Organizations that are started in response to needs within the community.
What is management?
Management refers to coordinating work so that they’re completed effectively and efficiently with/through other people
Explain three behavioural management philosophies.
Human Relations Movement (Elton Mayo)
- social factors have greater impact on productivity than working conditions
- emphasizes that managers realize managing involves social interaction; “employees are people, too”
Coordination, Self-Management and Collaboration (Mary Follett)
- managers must be closely involved with subordinates
- subordinates should be involved with the decision-making process since they’re doing the work (aka manage themselves)
- managers and workers should see themselves as collaborators/partners
Organizations as social systems (Chester Barnard)
- Two most important functions of managers are to:
1. establish and maintain a communication system
2. clearly establish the organizational objectives
Barnard felt authority over subordinates must be earned; which they do when:
- they understand what is required
- they see how it relates to organizational goals
- they believe they will benefit from accomplishing goals
Bernard and Follett believed in a collaborative approach
What is Entrepreneurship?
The process of starting new organizations, generally in response to opportunities.
What are the two views of the change process?
The Calm Waters Metaphor:
- unfreezing the status quo
- changing to a new state
- refreezing to make the change permanent
White-Water Rapids Metaphor
- lack of environmental stability requires that managers and organizations continually adapt
What are four organizing issues an entrepreneur must address?
- Organizational design and structure
- Human resource management
- How to stimulate and make changes
- The continuing importance of innovation
The belief that the best work approaches and practices are those of the home country is called ________ ________.
Ethnocentric Attitude
Differentiate maximin and minimax
Maximin - maximizing the minimum possible payoff
Minimax - minimize the maximum regret
The Model for Company Building lists 4 steps - what are they?
- Customer discovery
- Customer validation
- Customer creation
- Company-building
What are characteristics of well-designed goals?
Written in terms of outcomes
Measurable and quanitifable
Clear as to a time frame
Challenging but attainable
Written down
Communicated to all organizational members
Discuss the importance of the contingency approach to management.
Contingency approach accepts there’s no single best way to manage, depends on several factors:
- Organization size
- Routineness of task technology
- Environmental uncertainty; continuous change
- Individual difference
What are “Born Globals”?
International companies that choose to go global from inception.
What are the three types of change?
Structural (chain of command)
Technological (Automation/Computerization)
People (organizational development)
What are the four global perspectives? List some pros and cons of the three attitudes.
Parochialism
Ethnocentric Attitude
- simpler structure, more tightly controlled
- more ineffective management, inflexibility, social and political backlash
Polycentric Attitude
- Extensive knowledge of foreign market, more support from host gov’t, committed local managers with high morale
- Duplication of work, reduced efficiency, difficult to maintain global objectives because of local traditions
Geocentric Attitude
- Extensive knowledge of global issues, balance between local and global objectives, best people and work approaches used regardless of origin
- Difficult to achieve, managers must have both local and global knowledge
What is the Geocentric Attitude?
A world-oriented view that focuses on using the best approaches and people from around the globe.
What are the three types of managers?
First line managers: lowest level, manage the work of non-managerial employees; supervisors
Middle managers: between fist-line and top level; manager work of first-line
Top managers: managers at or near the top; responsible for decision making; establish plans and goals that affect entire organization
Outline the decision-making process.
- Identify the problem
- Identify the decision criteria
- Allocate weights to the criteria
- Develop alternatives
- Analyze the alternatives
- Select an alternative
- Implement the alternative
- Evaluate the decision’s effectiveness
Managers rely on three types of programmed decisions. What are they?
Procedure
Rule
Policy
Individuals who actively and enthusiastically support new ideas, build support, overcome resistance, and ensure that the innovations are implemented are known as ______ __________.
idea champions
Describe Cultural Intelligence
- Knowledge of culture as a concept - how cultures vary and how they affect behaviour;
- Mindfulness - the ability to pay attention to signals and reactions in different cross-cultural situations
- Behavioural skills - using one’s knowledge and mindfulness to choose appropriate behaviours in those situations.
Mintzberg’s Managerial Roles are grouped into 3 categories. Describe them.
Interpersonal roles: figurehead, leadership, liaison activities
Informational roles: monitoring, disseminating and spokesperson activities
Decisional roles: entrepreneur, disturbance handler, resource allocator, negotiator
Robert Katz found managers need 3 skills/competencies:
Technical skills, human skills and conceptual skills (ability to think and conceptualize abstract and complex situations)
Explain three classical management philosophies.
- Scientific Management (Taylor)
- compartmentalizing and standardizing the work
- supervising the workers
- motivating the workers - Administrative Management (Fayol)
- division of work
- unity of command
- Espirit de corps (team spirit) - Bureaucratic Management (Weber)
- rules and procedures
- hierarchy of authority
- divison of labour
- impersonality
- selection and promotion
What are three types of innovation variables?
Structural, Cultural and Human Resource
Henri Fayol proposed managers perform which tasks?
POCCC (plan, organize, command, coordinate, control)
Condensed to four, these are:
- Planning: define goals and strategies to achieve them
Organizing: Determining who does what
Leading: motivating subordinates; deal with behavior issues
Controlling: monitor activities to ensure they’re being completed
What is a major part of the military model of management?
Trust
Describe the four types of international organizations.
Multinational Corporation
- A firm that maintains operations in multiple countries but manages from the home country.
Multidomestic Corporation
- An international company that decentralizes management and other decisions to the local country
Global Company
- An international company that centralizes management and other decisions in the home country.
Transnational or Borderless Organizations
- A type of international company in which artificial geographical barriers are eliminated
How does one unfreeze the equilibrium? (3 steps)
- Increase driving forces
- Decrease restraining forces
- Combine the two
How is a manager’s job changing?
- Managers realize they must deliver consistent, high-quality customer service; employees friendly and courteous, etc
- Importance of Social Media has changed
- Innovation is critical throughout all levels and parts of an organization
- Adaptability of higher importance to manager’s job now
- Managers must manage responsibly; responding to environmental and social challenges
What “favourable conditions” might facilitate cultural change?
- Dramatic crisis
- Leadership changes
- Organization is young & small
- The culture is weak
What are some challenges in managing diversity?
- Personal Bias
- Discrimination
- Glass Ceiling
- Stereotyping
Name and briefly detail four important Global Trade Mechanisms.
- World Trade Organization
(evolved from GATT in 1995; only global organization dealing with rules of trade; 147 members; monitors and promotes world trade) - International Monetary Fund
(188 countries; promotes monetary cooperation and provides policy advice; temporary loans to maintain financial stability) - World Bank Group
(group of five institutions that provides financial and technical assistance to developing countries) - Organization for Economic Cooperation and Development
(Paris based economic organization; 34 members work to achieve sustainable economic growth and employment; raise standard of living)
What is Organizational Structure?
How job tasks are formally divided, grouped, and coordinated within an organization.