Chapter 1 Flashcards
Are the ultimate foundations of organizational performance
People and their talents
Is the collective brainpower or shared knowledge of a workplace that can be used to create value
Intellectual capital
Intellectual capital equation
Commitment x competency
Is a critical asset to employers and adds to the intellectual capital of an organization
Knowledge Worker’s Mind
Is a person’s ability to use technology to stay informed
Tech IQ
Occurs when firms shift jobs from one country to another
Job migration
The worldwide interdependence of resource flows , product markets, and business competition that characterize our economy
Globalization
Code of moral principles that set standards of conduct of what is “good” and “right” in one’s behavior
Ethics
Reflects differences with respect to gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness
Workforce diversity
Three types of workers in an organization:
- Permanent full-time workers
- Temporary part-time workers
- Freelance or contract workers
How does diversity bias occur in the workplace?
- Prejudice
- Discrimination
- Glass ceiling effect
People change jobs more often, and many work on independent contracts
Free-agent economy
Ability to understands oneself, exercise initiative, accept responsibility, and learn from experience
Self-management
Provide useful goods and/or services that return value to society and satisfy customer needs
Organization
A collection of people working together to achieve a common purpose
Organization
What are resource inputs?
People, money, materials, technology, information
What includes the transformation process?
Work activities turn resources into outputs
What are product outputs?
Finished goods and services
How is value created?
When an organization’s operation adds value to the original cost of resource inputs
Is a very important notion for organizations
Value creation
When value creation occurs, what can an organization gain?
Businesses earn a profit; Nonprofit organizations add wealth to society
Three O’s of Organizational Performance
- Productivity
- Performance effectiveness
- Performance efficiency
In an organizational performance, what is productivity?
An overall measure of the quality of work of performance with resource utilization taken into account
T or F: People are not ‘costs to be controlled’
True
In an organizational performance, what is performance effectiveness?
An output measure of task or goal accomplishment
In an organizational performance, what is performance efficiency?
An input measure of the resource costs associated with a goal or accomplishment
T or F: High-performing organizations does not treat people as valuable strategic assets
False
What are the different levels of management?
- Board of directors
- Top management
- Middle managers
- Team leaders
T or F: The people who managers help are the ones whose tasks represent the real work of the organization
True
Are responsible for performance of an organization as a whole or for one of its major parts
Top managers
They make sure the organization is run right
Board of directors
Oversee large departments or divisions
Middle managers
