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petros classes exam review > business exam review nyfw > Flashcards

business exam review nyfw Flashcards

1
Q

what are three levels of management

A
  1. top managers
  2. middle mangers
  3. first-line managers
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2
Q

define a top manger + example

A

someone who is responsible for the performance of an organization as a whole or for one of its larger parts
ex-
president, CEO, VP

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3
Q

define- middle managers + example

A

in charge of relativelt large departments/ divsions
ex- regional or plant manager

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4
Q

define first-line mangers + example

A

in charge of a small group of non-mangers
ex
supervisor or team leader

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5
Q

define the unity of command

A

each person should receive orders from only one boss

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6
Q

define unity of direction

A

one person should be in charge of all activities with the same performance objectives

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7
Q

what type of management id Fredricks Taylors four guiding principles

A

scientific management

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8
Q

what are fredrick Taylors four guiding principles

A

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

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9
Q

what does mcgregors theory x assume about workers

A

his theory assumes…..
- dislike work
- lack ambition
- are irresponsible
- resist change
- prefer to be led

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10
Q

what does theory y assume about workers

A

his theory assumes…..
- willing to work
- capable of self control
- willing to accept responsibility
- imaginative and creative
- capable of self- direction

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11
Q

list the 4 implications of mcgregors theory x and why

A
  1. mangers create self-ruffling prophecies
  2. . theory x manages create situations where workers become dependent and reluctant
  3. theory y mangers created situations where workers respond with initiate and high performance
  4. central to notions of empowerment and self-mangment
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12
Q

identify foccc - the 5 rules of mangment

A

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

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13
Q

explain the Hawthorne study

A

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

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14
Q

Hawthorne study- name the 2 reasons for increased productivity

A

1) Some things satisfied some workers but not others

2) People restricted output to adhere to group norms

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15
Q

Hawthorne study key ideas

A

Social and human concerns are keys to productivity

Hawthorne effect - people who singled out for special attention perform as expected

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16
Q

maslows hierarchy of needs

A

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

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17
Q

name the 5 needs of Maslow theory

A
  1. self actualization
  2. esteem needs
  3. social needs
  4. safety needs
  5. physcological needs
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18
Q

define self actualization

A

highest level
- needs for self-fulfilment to grow and use abilities to fullest and most creative extent

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19
Q

define esteem needs

A
  • need for respect, prestige recognition and self-esteem, personal sense of competence
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20
Q

social needs

A
  • need for love, affection sense of belongings in ones relationship with people
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21
Q

safety needs

A

Need for security, protection, and stability in the events of day-to-day life

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22
Q

physiological needs

A

Most basic of all human needs: need for biological maintenance food water and physical well-being

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23
Q

scalar chain

A

There should be a clear and unbroken line of communication from the top to the bottom of the organization

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24
Q

motion study

A

science of reducing a job or a task to its basic physical motions

Eliminating wasted emotions improves performance

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25
Q

List the 3 branches of classical management

A
  1. scientific mangment (four guiding principles
  2. administrative priceless (foccc)
  3. bureaucratic organizations
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26
Q

beraurucratic organizations

A

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

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27
Q

Quaintitative forecasting

A

An actual example is of a grocery store trying to eliminate wait times at the checkout during certain times of the day

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28
Q

Managers vs administrations

A

General manager
Responsible for the comlex units and many functional areas
Administrator
Is a manager in a public or non-profit organization

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29
Q

Prejudice vs discrimination

A

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

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30
Q

stakeholders

A

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

  1. Customers
    - Purchase the organizations goods and/ or use its services
  2. Suppliers
    - providers of human information, material and financial resources
  3. Owners
    - Stockholders investors and creditors with claims on assets and profits
  4. Competitors
    - Other organizations producing the same or similar goods
  5. Regulators
    - Local provincial and federal agenecies that enforce laws
  6. Interest groups
    - Community groups activists and other representing interest of citizens and society
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31
Q

Prejudice vs discrimination

A

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

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32
Q

Globalization

A

Is a worldwide interdependence of resources flows, product market and business competition

33
Q

Networking

A

The process of creating positive relationship with peopl;e who can help advance.

34
Q

Ultartiarn view of ethics

A

Greatest good to the greatest number of people

35
Q

Forecasting

A

Process of predicting what will happen in the future

36
Q

Whistleblower

A

Whistleblowers
Exposes misdeeds of others
-perserve ethical standards
-protect against wasteful, harmful or illegal acts

37
Q

Ethics

A

Sets standards of good or bad or right or wrong in ones conduct

38
Q

Short range plans

A

Covers one year or less

39
Q

Long range plans

A

Covers three or more years

40
Q

Mission statement purpose

A

Expresses the organizations reason for existence in society

41
Q

Organizational culture

A

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

42
Q

List the four benefits of planning

A

FACT
Focus & flexibility
Action orientation
Coordination & control
Time management

43
Q

Planning

A

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

44
Q

Transformational change

A

Major and comprehensive redirection ex replacing an old car with a new car

45
Q

Incremental change

A

Adjusting existing systems and practices through improvements ex tuning up the engine on a car

46
Q

Policy

A

Broad guidelines for making decisions and taking action in specific circumstances

47
Q

Procedure

A

Plans that describe exactly what actions are to be taken in specific situations

48
Q

Tactical plan

A

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

49
Q

Top-down vs bottom up change

A

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

50
Q

Planned change process

A

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

51
Q

Performance gap

A

A discrepancy between a desired and an actual state of affairs

52
Q

BCG matrix

A

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

53
Q

Downsizing

A

A downsizing strategy decreases the size of operations

54
Q

Co-opetition

A

Strategy of working with rivals on projects of mutual benefit

55
Q

Strategic planning

A

Set broad, comprehensive and longer-term action directions for the entire organization

56
Q

Flexible budget

A

Resources can vary in proportion with levels of activity

57
Q

Contingency planning

A

Identifies alternative courses of action to take when things go wrong

58
Q

Benchmarking

A

Uses external and internal comparison to plan for future improvements

59
Q

Transformational leadership

A

Someone who is truly inspirational as a leader and who arouses others to seek extraordinary performance accomplishments

60
Q

Transactional leadership

A

Someone who directs the efforts of others through tasks rewards and structures

61
Q

Job description

A

duties and repsobilites of the jobholder

62
Q

Job analayis

A

Examines exactly what is done in a job and why

63
Q

Human resource planning

A

Job analysis
Job description

64
Q

Orientation

A

Familarizes new employees with jobs, co-workers and organizational polices and services

65
Q

External recruitment vs internal recruitment

A

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)

66
Q

Human resource management

A

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

67
Q

Personal power (expert, referent, relational)

A

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

68
Q

Position power

A

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

69
Q

Leading

A

The process of inspiring others to work hard to accomplish omportangt tasks

70
Q

Types of benefits

A

Bonus pay
Plans provide one time payments based on performance accomplishments
Stock ownership plans
Helps employees purchase stock in their employing companies

71
Q

Work life balance

A

Involves balancing career demands with personal and family needs

72
Q

Independent contractors

A

Hired as need and not are apart of the orginzations permanent team

73
Q

Intrinsic rewards

A

Valued outcomes that occur from withing

74
Q

Extrinsic rewards

A

Valued outcomes given to someone by another person

75
Q

Internal control

A

Allows motivated individuals and groups to exercises self discipline in fufflinf job expectations

76
Q

External control

A

Occurs through personal supervision and the use of formal administrative systems

77
Q

Bureaucratic control

A

Influences behaviour through authority polices procedures job descriptions and day to day supervisions

78
Q

Clan control (

A

Influences behaviour through norms and expectations set by organizational culture

79
Q

Perception

A

The process through which people receive organize and interpret information from the same environment
People can perceive things or situations

petros classes exam review (15 decks)

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