business exam review nyfw Flashcards
what are three levels of management
- top managers
- middle mangers
- first-line managers
define a top manger + example
someone who is responsible for the performance of an organization as a whole or for one of its larger parts
ex-
president, CEO, VP
define- middle managers + example
in charge of relativelt large departments/ divsions
ex- regional or plant manager
define first-line mangers + example
in charge of a small group of non-mangers
ex
supervisor or team leader
define the unity of command
each person should receive orders from only one boss
define unity of direction
one person should be in charge of all activities with the same performance objectives
what type of management id Fredricks Taylors four guiding principles
scientific management
what are fredrick Taylors four guiding principles
1) develop rules of motion, standardized work implements and proper working conditions for every job
2) carefully select worker with the right abilities for the job
3) carefully train workers and provide incentives
4) support workers by carefully planning their work and removing obstacles
what does mcgregors theory x assume about workers
his theory assumes…..
- dislike work
- lack ambition
- are irresponsible
- resist change
- prefer to be led
what does theory y assume about workers
his theory assumes…..
- willing to work
- capable of self control
- willing to accept responsibility
- imaginative and creative
- capable of self- direction
list the 4 implications of mcgregors theory x and why
- mangers create self-ruffling prophecies
- . theory x manages create situations where workers become dependent and reluctant
- theory y mangers created situations where workers respond with initiate and high performance
- central to notions of empowerment and self-mangment
identify foccc - the 5 rules of mangment
1) Foresight- to complete a plan of action for the future
2) organization- to provide and mobilize resources to implement the plan
3) command - to lead, select and evaluate workers to get the best work toward the plan
4) coordination- to fit diverse efforts together and ensure information is shared and problems solved
5) control to make sure things happen according
explain the Hawthorne study
Initial study examined how economic incentives and physical conditions affected worker output, such as lighting, temperature, etc (no consistent relationship found.)
Psychological factors (human interactions) influenced results
Hawthorne study- name the 2 reasons for increased productivity
1) Some things satisfied some workers but not others
2) People restricted output to adhere to group norms
Hawthorne study key ideas
Social and human concerns are keys to productivity
Hawthorne effect - people who singled out for special attention perform as expected
maslows hierarchy of needs
A need is a physiological or psychological deficiency a person feels compelled to satisfy
Deficit principle: a satisfied need is not a motivator of behaviour
Progression principle: a need becomes a motivator once the preceding lower-level need is satisfied
Both principles ceaese to operate at self- actualization level
name the 5 needs of Maslow theory
- self actualization
- esteem needs
- social needs
- safety needs
- physcological needs
define self actualization
highest level
- needs for self-fulfilment to grow and use abilities to fullest and most creative extent
define esteem needs
- need for respect, prestige recognition and self-esteem, personal sense of competence
social needs
- need for love, affection sense of belongings in ones relationship with people
safety needs
Need for security, protection, and stability in the events of day-to-day life
physiological needs
Most basic of all human needs: need for biological maintenance food water and physical well-being
scalar chain
There should be a clear and unbroken line of communication from the top to the bottom of the organization
motion study
science of reducing a job or a task to its basic physical motions
Eliminating wasted emotions improves performance
List the 3 branches of classical management
- scientific mangment (four guiding principles
- administrative priceless (foccc)
- bureaucratic organizations
beraurucratic organizations
max weber
Believed people should be in position of authority because of job related capabilities not social standing
He believed he could ensure this by creating bureaucracy
- an ideal, intentionally rational and very efficient form of organization
Based on principles of logic and order
Characteristics and disadvantages of bureaucracy
CHARACTERISTICS
-Clear division of labour
-Clear hierarchy of authority
-Formal rules ans procedures
POSSIBLE DISADVANTAGES
-Excessive paper work
-Slowness in handling problems
-Rigidity in the face of shifting needs
-Resistance to change employee apathy
Quaintitative forecasting
An actual example is of a grocery store trying to eliminate wait times at the checkout during certain times of the day
Managers vs administrations
General manager
Responsible for the comlex units and many functional areas
Administrator
Is a manager in a public or non-profit organization
Prejudice vs discrimination
Prejudice
Making judgements, having negative attitudes about a person from a diverse group
Discrimantion
When individuals are unfairly treated because they are a member of a diverse group
stakeholders
What is a stake holder
Those persons groups and other organizations directly affected by the behaviour of the organization and holding a stake in its performance
Seven types of organizational stakeholders
1. Employees
- Work for the organization
- Customers
- Purchase the organizations goods and/ or use its services - Suppliers
- providers of human information, material and financial resources - Owners
- Stockholders investors and creditors with claims on assets and profits - Competitors
- Other organizations producing the same or similar goods - Regulators
- Local provincial and federal agenecies that enforce laws - Interest groups
- Community groups activists and other representing interest of citizens and society
Prejudice vs discrimination
Prejudice
Making judgements, having negative attitudes about a person from a diverse group
Discrimantion
When individuals are unfairly treated because they are a member of a diverse group
Globalization
Is a worldwide interdependence of resources flows, product market and business competition
Networking
The process of creating positive relationship with peopl;e who can help advance.
Ultartiarn view of ethics
Greatest good to the greatest number of people
Forecasting
Process of predicting what will happen in the future
Whistleblower
Whistleblowers
Exposes misdeeds of others
-perserve ethical standards
-protect against wasteful, harmful or illegal acts
Ethics
Sets standards of good or bad or right or wrong in ones conduct
Short range plans
Covers one year or less
Long range plans
Covers three or more years
Mission statement purpose
Expresses the organizations reason for existence in society
Organizational culture
Every human organization (such as small family business, a school or a large global corporation) creates a uniqu culture all its own
These organizations span cultures and time zones and each organization has a distinct identity
List the four benefits of planning
FACT
Focus & flexibility
Action orientation
Coordination & control
Time management
Planning
Planning (chapter 4.1- slide 8)
Is the process of setting objectives and determining how to accomplish them
Planning
Define your objectives
Determine where you stand in relation to objectives
Develop premises regarding future conditions
analyze alterniates and make a plan
Implement the plan and evaluate results
Transformational change
Major and comprehensive redirection ex replacing an old car with a new car
Incremental change
Adjusting existing systems and practices through improvements ex tuning up the engine on a car
Policy
Broad guidelines for making decisions and taking action in specific circumstances
Procedure
Plans that describe exactly what actions are to be taken in specific situations
Tactical plan
Define what needs tobe done in specific functions to implement strategic plans. They often take the form of
Functional plans (Describe how different operations within the organization will help advance the overall success)
Production plans
Financial plans
Facilitate plans
Marketing plans
Human resource plans
Top-down vs bottom up change
Top down change
Changes with the goal of improving organizational performance
Driven by top leadership
Made possible by support of middle level and lower level workers
Bottom up change
The initiatives for change come from any and all parts of the organization not ust the top mange,ent
Crucial for organizational innovation
Made possible by employee empowerment employee involvement and employee participation
Planned change process
Phases of planned change
Unfreezing
The phase in which situation is prepared for change and needs for change are devlioped
Changing
The phase i which something new takes place in the system and change is actually implemented
Refreezing
The phase of stabilizing the change and creating the conditions for its logn term continuty
Performance gap
A discrepancy between a desired and an actual state of affairs
BCG matrix
Boston consulting group (bcg matrix)
Ties strategy formulation to analysis of business opportunities according to
Industry or market growth rate (low versus high)
Market share (low versus high)
????
High low
Poor position: growing industry
Growth or retrenchment strategy
Star
High high
Dominant position: growing industry
Growth strategy
Dogs
Low low
Poor position : low growth industry
Retrenchment strategy
Cashcows
Low high
Dominant position: low growth industry
Stability or modest growth strategy
Downsizing
A downsizing strategy decreases the size of operations
Co-opetition
Strategy of working with rivals on projects of mutual benefit
Strategic planning
Set broad, comprehensive and longer-term action directions for the entire organization
Flexible budget
Resources can vary in proportion with levels of activity
Contingency planning
Identifies alternative courses of action to take when things go wrong
Benchmarking
Uses external and internal comparison to plan for future improvements
Transformational leadership
Someone who is truly inspirational as a leader and who arouses others to seek extraordinary performance accomplishments
Transactional leadership
Someone who directs the efforts of others through tasks rewards and structures
Job description
duties and repsobilites of the jobholder
Job analayis
Examines exactly what is done in a job and why
Human resource planning
Job analysis
Job description
Orientation
Familarizes new employees with jobs, co-workers and organizational polices and services
External recruitment vs internal recruitment
External recruitment
Candidates are sought from outside the hiring organization (ad in newspaper)
Internal recruitment
Candidates are sought from within the organization (posting in work room or email to employees)
Human resource management
Prejudice
Is the display of negative irrational attidues toward members of diverse poopulations
Dicrimantion of employment
Occurs when someone is denied a job or job assignment for reasons that are not relevant to the job
Employment equity
The right to employment without regard to race color national orgin
Personal power (expert, referent, relational)
Based on unique personal qualities that a person brings to a leadership situation
Expert power
Capacity to influence others because of ones knowledge and skills
Refernet power
Capacity to influence others because they admire you and want to identify with you
Relational power
The ability to function well as a team working towards a collective goal
Position power
Based on a mangers official status in the organizations hierarchy
Reward power
Capable of offering something of value
Coercive power
Capable of delivering punishment or witholding positive outcomes
Legitimate power
Organization position or status confers right to control those in subordinate positions
Leading
The process of inspiring others to work hard to accomplish omportangt tasks
Types of benefits
Bonus pay
Plans provide one time payments based on performance accomplishments
Stock ownership plans
Helps employees purchase stock in their employing companies
Work life balance
Involves balancing career demands with personal and family needs
Independent contractors
Hired as need and not are apart of the orginzations permanent team
Intrinsic rewards
Valued outcomes that occur from withing
Extrinsic rewards
Valued outcomes given to someone by another person
Internal control
Allows motivated individuals and groups to exercises self discipline in fufflinf job expectations
External control
Occurs through personal supervision and the use of formal administrative systems
Bureaucratic control
Influences behaviour through authority polices procedures job descriptions and day to day supervisions
Clan control (
Influences behaviour through norms and expectations set by organizational culture
Perception
The process through which people receive organize and interpret information from the same environment
People can perceive things or situations
