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chapter 1 Flashcards

1
Q

Intellectual capital

A

combined brainpower and
shared knowledge of an organization’s employees

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2
Q

commitment x compentency

A

intellectual capital

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3
Q

tech iq

A

a person’s ability to use current
technologies at work and in personal life:
* Checking inventory, making a sales transaction,
ordering supplies
* Telecommuting
* Virtual teams

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4
Q

Globalization

A

The worldwide interdependence of resource
flows, product markets, and business competition that characterize our economy

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5
Q

Job migration

A

when firms shift jobs from
one country to another

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6
Q

Reshoring

A

is the shifting of manufacturing and
jobs back home from overseas

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7
Q

Ethics

A

Code of moral principles that set standards of
conduct of what is “good” and “right”, as well
as “bad” and “wrong”

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8
Q

corportate governance

A

Board of directors hold top management
responsible for organizational performance

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9
Q

Workforce diversity

A

reflects differences with
respect to gender, age, race, ethnicity, religion,
sexual orientation, and able-bodiedness

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10
Q

Prejudice

A

the display of negative, irrational
opinions and attitudes

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11
Q

Discrimination

A

unfairly treating members of
some groups

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12
Q

Glass ceiling effect

A

an invisible barrier or
ceiling

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13
Q

Careers and Connections

A

Organizations consist of three types of workers,
sometimes referred to as a shamrock
organization

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14
Q

Free-agent economy

A

People change jobs more often and work on
flexible contracts

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15
Q

Self-management

A

Ability to assess oneself realistically, recognize
strengths and weaknesses, make constructive
changes, and manage personal development

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16
Q

Organizations

A
  • A collection of people working together to
    achieve a common purpose
  • Organizations provide goods and services of
    value to customers and clients, and seek to serve
    society
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17
Q

resource inputs

A
  • people
  • money
  • materials
  • technology
  • information
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18
Q

product outputs

A

finished goods and services

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19
Q

value is created when

A

an organization’s
operations add value to the original cost of
resource inputs

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20
Q

when value creation occurs

A
  • Businesses earn a profit
  • Nonprofit organizations add wealth to society
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21
Q

Productivity

A

An overall measure of the quantity
and quality of work performance with resource
utilization taken into account

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22
Q

Performance effectiveness

A

An output measure
of task or goal accomplishment

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23
Q

Performance efficiency

A

An input measure of
the resource costs associated with goal
accomplishment

24
Q

goal attainment and resource utilzation

A
25
Q

Workplace changes that provide a context for
studying management

A
  • Focus on valuing human capital
  • Demise of “command-and-control”
  • Emphasis on teamwork
  • Pre-eminence of technology
  • Importance of networking
  • New workforce expectations
  • Concern for sustainability
26
Q

importance of human resources and managers

A
  • People are not ‘costs to be controlled’
  • High performing organizations treat people as
    valuable strategic assets
27
Q

Manager

A
  • Directly supports, supervises, and helps
    activate the work efforts of others
  • The people who managers help are the ones
    whose contributions represent the real work of
    the organization
28
Q

Board of directors

A

makes sure the organization
is run well

29
Q

Top managers

A

are responsible for performance
of an organization as a whole or for one of its
major parts

30
Q

Middle managers

A

oversee large departments
or divisions

31
Q

Team leaders

A

supervise non-managerial
workers

32
Q

supervise non-managerial
workers

A

are responsible for work
activities that directly affect organization’s
outputs

33
Q

Staff managers

A

use technical expertise to
advise and support the efforts of line workers

34
Q

Functional managers

A

are responsible for a
single area of activity

35
Q

General managers

A

are responsible for more
complex units that include many functional
areas

36
Q

Administrators

A

work in public and non-profit
organizations

37
Q

Quality of work life (QWL)

A

An indicator of the overall quality of human
experiences in the workplace

38
Q

QWL Indicators

A
  • Respect
  • Fair pay
  • Safe working conditions
  • Opportunities to learn and use new skills
  • Room to grow and progress in a career
  • Protection of individual rights
39
Q

Management

A

is the process of planning,
organizing, leading, and controlling the use of
resources to accomplish performance goals

40
Q

the managment process

A
  • planning
  • organziing
  • leading
  • controlling
41
Q

Planning

A

The process of setting objectives and
determining what actions should be taken to
accomplish them

42
Q

Organizing

A

The process of assigning tasks, allocating
resources, and coordinating work activities

43
Q

Leading

A

The process of arousing people’s enthusiasm
and inspiring them to work hard to achieve
goals

44
Q

Controlling

A

The process of measuring work performance,
comparing results, and taking corrective action

45
Q

Characteristics of managerial work

A
  • Long hours
  • Intense pace
  • Fragmented and varied tasks
  • Many communication media
  • Filled with interpersonal relationships
46
Q

Agenda setting

A

Develops action priorities for accomplishing
goals and plans

47
Q

Networking

A

Process of building and maintaining positive
relationships with people who can help advance
agendas

48
Q

Social Capital

A

Capacity to attract support and help from others

49
Q

Learning

A

The change in a behaviour that results from
experience

50
Q

Lifelong learning

A

The process of continuously learning from daily
experiences and opportunities

51
Q

Bargaining power of suppliers

A
  • Ease of switching suppliers and costs of switching suppliers
  • Availability of substitute products for inputs
  • Cost of inputs relative to selling price of end product
  • Threat of forward or backward integration
52
Q

bargaining power of buyers

A
  • Buyer concentration to firm concentration ratio
  • Buyer volume
  • Buyer’s ability to get similar products and buyer’s switching costs
  • Buyer price sensitivity
53
Q

Threat of potential entrants

A
  • Profitability of the industry
  • Barriers to entry (capital costs, patents, rights, etc.)
  • Power of existing brands
  • Access to distribution
  • Cost advantages / disadvantages
  • Expected retaliation
54
Q

threats of substitutes

A
  • Buyer sensitivity to pricing; relative pricing of products
  • Buyer propensity to substitute
  • Buyer switching costs
  • Perceived level of product differentiation
55
Q

Intensity of industry competition

A
  • Number of competitors and rate of industry growth – Food Retail
  • Exit barriers – Natural Resources
  • Impact of industry overcapacity – Consumer electronics
  • Fixed costs – Airline
  • Levels of advertising – Beverage
  • Economies of scale – Automotive
    7

gms (9 decks)

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