business test Flashcards
what are the 6 factors to working in a new economy
Intellectual capital: the knowledge a working adds to the organization
Globalization: the world wide interdependence of resources, markets, and competition, boundaries are shrinking
Diversity: differences among workers in gender, race, age, ethnicity, able bodiedness, religion and sexual orientation are provided opportunities and challenges to employers ( prejudice, discrimination, and glass ce;ing effect)
Technology: transformation of the workplace through the internet, computers, smart phones, tablets and other forms of technology
Ethics: higher expectations that social institutions conduct themselves to a high standard of conduct. However, more companies are looking at maximum profit
Career: core workers, contract workers, & part-time workers
what is Value creation/value added in an organization
Occurs when an organization, through its operations, adds value to the original cost of resources inputs
(businesses earn a profit, non profit add wealth to society)
what are the 3 Organizational performance
Productivity: measures the quality and quantity of work performance with resources utilization considered
Performance effectiveness: measures of task output or goal accomplishment
Performance efficiency: resource cost associated with accomplishment
what are the levels of management
Top managers: guide performance of the organization as a whole or one of its major parts (ceo, president, vice-president, etc)
Middle managers: oversee work of large departments of division (division managers, plant managers, etc)
Team leader or supervisor: in charge of small work group comprised of non-managerial workers (deptt head, group leader, etc)
what are the types of managers
Line managers: responsible for work activities that directly contribute to an organizations good or services
Staff managers: use technical expertise to advise and support line workers
Functional managers: responsible for a single area of activity such as finance, marketing, sales, etc
general manager: responsible for more complex units that include many functional areas
Administrators: work in public or non profit
what are the functions of management
Planning: setting objectives and determining what actions should be taken to accomplish them
Controlling: measuring work performance, comparing results, and taking collective action as needed
Organization: assigning tasks, allocating resources and arranging activities to implement plans
Leading: inspiring enthusiasm and directing efforts toward organizational goals
what are the Managerial roles and skills
Interpersonal roles: interactions with person inside and outside of work unit
Figure head
Leader
Liaison
Informational: giving, receiving, and analyzing of information
Monitor
Disseminator
Spokesperson
Decisional: using information to make decisions in order to solve problems or address opportunities
Entrepreneur
Disturbance handler
Resource allocator
negotiator
Social awareness
The ability to understand your emotions as well as recognise their impact on relationships and performance
Emotional self awareness
Accurate self awareness
Self confidence
Social confidence
Your ability to identify emotions in other people, to understand their perspective and take an interest on their concerns
Empathy
Organizational awareness
Service orientation
Self management
Controlling your emotions and using your awareness of them to stay flexible and act positively
Emotional self-control
Transparency (trustworthy)
Adaptability
Achievement orientation
Initiative
Optimism
Social skills
Your ability to use your awareness of your own emotions together with your understanding of the emotions of others to manage interactions successfully
Inspirational leadership
Influence
Developing others
Change catalyst
Conflict management
Building bonds
Teamwork & collaboration
7 skills of EI
You can read non-verbal communication
You are interested in others feelings or thoughts
You are emotionally resilient
You know where you need improvement
You are aware of your feelings
You avoid negative self-talk
You purse success
Developing EI
Learn your triggers
Empathize
Own your emotions
Go with your gut
what is the basic assumption towards classical theory
humans are rational and economically motivated
what is scientific management
Saving seconds on individual stops, adds up to significant increase in productivity
Goal was to improve efficiency and productivity
Used the “time study” concept to analyze motions and tasks required in any job to develop the most efficient ways to perform them
Develop for every job “ science” that includes rules of motion, standardized work tools, and proper working conditions
Carefully select workers with the right ailitis for the job
Carefully train workers to do the job and give them the proper incentives to cooperate with the job “science”
Supports workers by carefully planning their work and by smoothing the way as they go about their jobs
Reduce job or task basic physical motions
Ex. ups: workers guided by productivity standards (shorter = timed w/set # of expected van loads)
what is the administrative principle
Henri Fayol published a book nme administrative industrielle which outlines his views on the proper management if organizations and the people within them
Five rules of management
Foresight: to complete a plan of action for the future
Organization: to provide and mobilize resources to implement the plan
Command: to lead, select and evaluate workers to get the best work towards the plan
Coordination: to fit diverse efforts together and ensure information is shared and solved
Control: to make sure things happen according to plan and take necessary corrective action
what are the 14 princiaples of management for the administrative principle
Initiative
Personal tenure
Equity
Order
Scalar chain (line of authority)
Centralization
Unity of direction
Unity of command
Discipline
Authority
Division of labour
Esprit de corps: managers should work to build harmony among personnel
remuneration: all should receive fair payment for their work, employees are valuable
Subordination of individual interest: only at work, only work issues should be considered
what is the Bureaucratic organization
A bureaucracy is a rational and efficient form or organization founded on logic, order, legitimate authority
Max weber’s idea developed in reaction to his belief that the organizations of his day often failed to reach their performance potential
Characteristics of weber’s bureaucratic organization
- Clear division of labour
- Clear hierarchy of authority
- Forma rules and procedures
- Careers based on merit
- Impersonality
Disadvantages
- Excessive paperwork
- Slowness in handling problems
- Rigidity in the face of shifting customer / clients needs
- Resistance to change
- Employee empathy
- Causes problems for organizations that must be flexible and quick in adapting to change
what is the common assumption for Behaviour management approaches
people are social and self-actualizing seek social relationships, respond to group dressers and search for personal fulfillment
what is Hawthorne studies
- Initially aimed to study how economic incentives and physical conditions, like the workplace
- Led by elton mayo to examine the effects of workers fatigue on productivity
- Researchers concluded that social factors improve productivity
- Caused worsening economic conditions causing termination in 1932
- Large scale employee interviews over 21,00 people revealed that satisfaction and dissatisfaction varied by individual
- Theory proves that work gets better when given special attention
- Contributed to the human relation movement (1950s-60s) which emphasizes good workplace for productivity
what is Maslow’s theory of human needs
- Need: physiological or psychological deficiency that a person feels compelled to satisfy
- Deficit principle: a satisfied need is not a motivator or behaviour. People act “deprived”, news those for which a satisfaction “deficit” exists
- Progression principle: the fire needs exist in hierarchy; a need at any level is activated only when the next-lower-level needed satisfied
- Maslow’s theory implies that managers who understand and help people satisfy important needs at work will achieve productivity
- Self actualization: highest level- needed for self-fulfillment to grow and use abilities to fullest and most creative extent
- Esteem needs: need for esteem in the eyes if others; need for respect, prestige, etc. recognition; need for self-esteem, personal sense of competence mastery
- Social needs: need for love, affection, sense of belonging in ons relationship with other people
- Safety needs: need for security, protection, and stability in the event of day-to-day life
- physiological needs: most basic of all human needs; need for biological maintenance; food, water, and physical well being.
what is Folletts communities
- Folletts work transitioned from classical thinking into behavioural management
- Mary parker follett introduced the theory of organization as communities
- Follett believed managers and employee should work as a whole, without one group overpowering another
- Employees should resolve differences and conflicts without feeling held back
- Individuals were seen as assets that offer a variety of talents
- She believed it was the manager’s job to help people in organizations cooperate with one another achieve integration of interests
- Group work and human cooperation are important factors
- Private profits should always be considered relation to the public good
what is Mcgregor’s theory x
assumes people dislike work, lack ambition, act irresponsibly, and prefer to be led
- Can be seen as a negative approach to management but is sometimes necessary
- Unmotivated need someone to keep a certain level of service quality
- Relationships between workers and managers are “command and control” perspective but in today’s work culture it’s needed
what is Mcgregor’s theory y
assumes people are willing to work, responsibly, self-directed and creative
- Self-fulfilling prophecy happens when an individual acts accordingly that conducts another expectations
- Mcgregor’s idea is his belief that managers hold either set of assumptions can create self-fulfilling prophecies
- Theory y focuses more on participation
what is Argyris’s theory of adult personality
Chris Argyris inspired by maslow and mcgregor
- Maturity and immaturity
- Impact on organizational structure
- Scientific management and specialization
(Scientific management believes that specialization increases efficiency) - Argyris criticism of bureaucracy
(Says that the stiff structures limit self direction) - Argyris management advice
(Treat employees as adult, not children)
what are ethics
code of moral principles that set standards of good or bad, or right or wrong is one’s conduct and there by guides the behaviour of a person or group
Alternate views of ethical behavior
- Utilitarian view
- Considers ethical behaviour that delivers the greater good to the greatest number of people
2, Individualism view
- Ones primary commitment is to the advancement of long term self investment
Ie. lying is wrong, even for short term gain because if you do, everyones doing it, so honestly is best
- Moral rights view
- Respect and protects the fundamental rights of people - Justice view
- Fair and impartial treatment of people according to rules and standards
- Evaluates the ethical aspect of any decision based on whether its “equitable” for everyone
Cultural issues in ethical behaviour
Cultural relativism: there is no one right way to behave; ethical behaviour is determined by cultural context
Universalism: ethical standards apply across all cultures and national boundaries
Ethical imperialism: an attempt to impose one’s ethical standards on their cultures
Ethics in the workplace
The person: family, religion, personal standards, personal needs
The organization: companies have a policy statement, written, code of conduct, supervisory behaviour and peer group norms
The environment: government laws and regulations, societal norms, competitive climate
Unethical behaviour in the workplace
- Discrimination
- Sexual harassment
- Conflicts of interest
Bribe, kickback or extraordinary gift in return for a favourable outcome - Customer confidence
Selling customer info to a 3rd party - Organizational resources
Using company equipment or supplies
Rationalization for unethical behaviour
- Convincing yourself that the behavior is not really illegal
- Convincing yourself that the behavior is really in someone’s best interest
- Convincing yourself that nobody will ever find out what you’ve done
- Convincing yourself that the organization will protect you
what is corporate social responsibility
The obligation of an organization to serve its own interest and those of society
Organization stakeholders
Anyone directly affected by the behavior of the organization and hold a stake in its performance.
Criteria for evaluating social performance
Economic: make money
Social: benefit staff and community
Environmental: not doing harm to the environment
Guiding socially responsible practices
People: the belief that people do their best in healthy work environments with a balance of work and family life
Communities: belief that organizations perform best when located in healthy communities
Natural environments: belief that organizations gain by treating the natural environment with respect
Long term: belief that organizations must be managed and led for long term success
Reputation: belief that one’s reputation must be protected to ensure consumer stakeholders support
Social responsibility strategies (best-workers)
Protective strategy- “take leadership in social initiatives” meet economic, legal, ethical, discretionary responsibilities
Accommodative strategy- “ do minimum ethically required” meet economic,legal and ethical responsibilities
Defensive strategy: “ do minimum legally requires” meet economic and legal responsibilities
Structuralist strategies- “fight social demands” meet economic responsibilities
How government influences organizations
Common areas of government regulation of business affairs
- Occupational health and safety
- Fair labour practices
- Consumer protection
- Environmental protection
