Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

MGT301 > CH 4-7 > Flashcards

CH 4-7 Flashcards

1
Q

Managers can be …

A
  1. Problem avoiders
  2. Problem solvers
  3. Problem seekers
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Managers use these two types of thinking

A

systematic & intuitive

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Managers make decisions under these three conditions

A
  1. certainty
  2. risk
  3. uncertainty
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Managers make __________ decisions and ____________ decisions.

A

Programmed and Unprogrammed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Problem Solving

A

involves identifying and taking action to resolve problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Knowledge workers

A

add value to organizations through their intellectual capabilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

information competency

A

the ability to gather and use information to solve problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

performance threat

A

a situation where something is wrong or likely to be wrong

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

performance opportunity

A

a situation that offers the possibility of a better future if the right steps are taken

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

problems pose ______ & __________

A

threats and opportunities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Problem avoiders

A

prefer not to make decisions and ignore problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Problem Solvers

A

reacts to problems as they occur

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Problem Seekers

A

proactive in anticipating threats and opportunities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Programmed decisions

A

applies a solution from past experience to a routine problem

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Non Programmed decisions

A

applies a specific solution crafted for a unique problem

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Systematic Thinking

A

approaches problems in a rational and analytical fashion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Intuitive Thinking

A

approaches problems in a flexible and spontaneous fashion

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

The four problem solving approaches

A
  1. sensation thinkers
  2. intuitive thinkers
  3. Intuitive feelers
  4. Sensation feelers
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Sensation Thinker

A

impersonal, realistic, prefer facts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Sensation Feeler

A

relationship oriented, analytical, realistic

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Intuitive Thinker

A

impersonal, abstract, idealistic, likes unstructered problems

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Intuitive Feeler

A

relationship oriented, abstract, flexible

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

3 problem solving enviorments

A

certain, risk, unceratin

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Decision Making errors

A 
Availability Heuristic
Representative Heuristic
Anchoring and Adjustment Heuristic
Framing Error
confirmation error
escalating committment
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Availability Heuristic

A

occurs when people use information “readily available” as a basis for assessing a current event or situation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Representative Heuristic

A

occurs when people assess the likelihood of something occurring based on its similarity to a stereotyped set of occurrences

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Anchoring and Adjustment Heuristic

A

involves making decisions based on adjustments to a previously existing value, or starting point

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

Framing error

A

solving a problem in the context percieved for example positive or negative (How you present it)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Crisis

A

unexpected situations that can lead to disaster if not handed quickly

30
Q

Crisis management programs

A

train managers in decision making and establish plans to handle emergencies

31
Q

Management Process

A

Planning
Organizing
Leading
Controlling

32
Q

Planning Steps

A
  1. Define Objectives
  2. Determine current status compared to objectives
  3. Develop premisis regarding future conditions and generate alternative scenarios for what may happen
  4. Analyze alternatives and make a plan
  5. Implement and evaluate the plan
33
Q

Good planning makes us:

A

Action Oriented
Priority Oriented
Advantage Oriented
Change Oriented

34
Q

Planning improves _______________

A

Time Managment

35
Q

Short Range Plans

A

year or less

36
Q

long range plans

A

three years or more

37
Q

Strategic Plans identify ____________ directions for the organization.

A

Long term

38
Q

Vision

A

the purpose of the organization

39
Q

Operational Plans

A

identify activites to implement strategic plans

40
Q

Functional plans

A

identify roles of functional areas

41
Q

Policy

A

communicates broad guidelines for making decisions

42
Q

Procedure

A

defines specific actions to be taken in specific situations

43
Q

Budget

A

commit resources to activities, programs or projects

44
Q

Types of Budges

A
  1. Financial- cash flows and expenses
  2. Operating- anticipate sales and revenue
  3. Nonmonetary- allocate resources
  4. Fixed- set amounts for specific purposes
  5. Flexible-vary in prportion to a level of activity
  6. Zero based- start from scratch
45
Q

Forcasting

A

tries to predict the future

46
Q

Contingency planning

A

creates back up plans for when things go wrong

47
Q

Scenario planning

A

crafts plans for alternative future conditions

48
Q

Bench marking

A

identifies best practices

49
Q

Staff planners

A

provide special expertise

50
Q

participatory planning

A

improves implementation

51
Q

Goal setting

A

helps align plans and activities

52
Q

Goals need to be

A 
Specific
Timely
Measurable
Challenging
Attainable
53
Q

Control Function

A

process of measuring performance and taking action to ensure desired results

54
Q

Control Process

A
  1. Objectives and Standards
  2. Measures actual performance
  3. Compares results with objectives and standards
  4. Takes corrective action as needed
55
Q

Types of Controls

A

Feedfoward Controls -Solve problems before they occure
Concurrent Controls- Solve problems while they occur
Feedback Controls- Solve problems after they occur

56
Q

Internal Control

A

motivate employees excercise self control in their work

Participation in planning work and having sense of purpose facilitate motivation

57
Q

External Controls

A

Bureaucratic Control
Clan Control
Market Control

58
Q

Bureaucratic Control

A

involves policies, procedures, budgets, and supervision to influence behavior

59
Q

Clan Control

A

uses the organizations culture to influence behavior

60
Q

Market Control

A

influence that market competition has on organizaional decisions such as price, product modification and expansion.

61
Q

Inventory Control helps _______ _________.

A

Save cost

62
Q

Break even analysis

A

shows where revenue will equal cost

63
Q

Financial rations and balanced score cards ____________ organizational controls

A

strengthen

64
Q

Economic Order Quanitity

A

pre determined amount of inventory is order when current inventory reaches a certain level

65
Q

Just in Time scheduling

A

inventory arrives EXACTLY when needed for production or sales ex. Toyota

66
Q

Liquidity

A

measures ability to meet short term obligations

67
Q

Leverage

A

measures use of debt

68
Q

Asset Management

A

measures asset and inventory efficiency

69
Q

Strategy

A

a comprehensive plan for achieving competitive advantage

70
Q

Competitive Advantage

A

operating in successful ways that are difficult to duplicate

MGT301 (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions