Chapter 1 Flashcards

1
Q

Why Learn about Management (5)

A

Learn skills to get manager role
Improve working relationship with manager
Manager important role in society
Improve ability of organization to create or capture value
Self understanding

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2
Q

Describe technical, social, conceptual

A

Technical: expertise in particular area
Social: getting along with others, communication, leadership
Conceptually: thinking complex and broad organization issues

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3
Q

First line supervisor

A

Manage work of organizational members involved in production or creation of g/s

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4
Q

Middle manager

A

Manage work of first line managers

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5
Q

Top managers

A

Organization-wide managerial responsibilities

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6
Q

Management (what)

A

Process of planning, organizing, leading, controlling human and other organizational resources

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7
Q

Management (why)

A

Working towards effective achievement of organizational goals

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8
Q

Organization

A

Goal directed, deliberately- structured group of people working to provide g/s

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9
Q

10 roles of managers (3 categories)

A

Interpersonal roles
Decisional roles
Informational roles

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10
Q

Interpersonal roles (3)

A

Leader, liaison, figurehead

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11
Q

Decisional roles (4)

A

Resource allocator, negotiator, entrepreneur , crisis handler

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12
Q

Informational roles (3)

A

Monitor, disseminate, spokesperson

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13
Q

Four functions of manager

A

Planning
Organizing
Leading
Controlling

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14
Q

Organization chart

A

Describes reporting relationships and authority structure of organization

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15
Q

Stakeholders

A

Parties that have an interest in what an organization does because they contribute resources to organization or are affected by its operations

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16
Q

Efficiency vs effectiveness

A

Doing things right vs doing the right things

Effectiveness draws the attention to larger meaning of life and overarching goals shaping management

17
Q

Good manager=

Effective manager =

A

Moral obligations

Depends on criteria people use to evaluate success

18
Q

Financial bottom line

A

Maximizing an organizations financial well being, achieved by appealing to individual self interest and ignoring negative externalities

19
Q

Invisible hand

A

Good of community is assured when every individual is permitted to pursue their own self-interested goals

20
Q

Consequential utilitarianism and how it’s measured

A

Optimizing an actions rightness (and limiting its wrongness) measured by effect on net overall happiness

21
Q

Externalities

A

Positive and negative effects that organizations have on society but not reflected in financial statements

22
Q

TBL

A

Enhancing an organizations financial well being while simultaneously reducing its negative socio-ecological externalities

23
Q

Sustainable development

A

Meeting needs of present generation without compromising ability of future generations to meet their needs

24
Q

Enlightened consequential utilitarianism

A

Ethical management seeks to improve an organizations financial well being while reducing social and ecological externalities

25
Q

Set management

A

Enhancing social and ecological well being while maintaining financial viability

Maximizing financial well being is not approach at all

26
Q

Virtue ethics (4)

A

Happiness is achieved by practicing virtues in community

Wisdoms
Justice
Self control
Courage

27
Q

Entrepreneurial

A

Someone who invents or improves g/s with initiative to develop idea by making plan and mobilizing resources to convert idea to reality

28
Q

Entrepreneurial success (3)

A

Opportunity for new g/s for value creation
Organizational plan for resources
Motivation

29
Q

Why become entrepreneur (3)

A

Gain autonomy
Meet challenges
Achieve financial goals

30
Q

Value creation

A

Offering g/s valued by society

31
Q

Value capture

A

Acquiring financial benefits associated with value being created