Chapter 1 Test Review Flashcards
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Ethics
- sustainable development and protection of the natural environment
- Protection of consumers through product safety and fair practices
- Protection of human rights including employment policies and practices
Globalization
Globalization is the worldwide interdependence of resource flows, product markets, and business competition that characterize the new economy
COUNTRIES WORK TOGETHER PROMOTING- MORE TRADE, TECHNOLOGY SHARING, AND CULTURAL EXCHANGE
Intellectual Capital
People are the foundation of a company’s performance
- THE COLLECTIVE BRAINPWOER OR KNOWLEDGE THAT CREATES VALUE TO AN ORGANIZATION
A KNOWLEDGE WORKER ADDS TO THE INTELLECTUAL CAPITAL OF AN ORGANIZATION
Workforce Diversity
Changing demographics make the workplace increasingly diverse
a diverse and multicultural workforce both challenges and offers opportunities to employers
Valuing diversity is a societal responsibility
Glass Ceiling Effect
An invisible barrier that limits career advancement for minorities and women
Productivity
A MEASURE of QUANITY and QUALITY of PERFORMANCE with resource utilization (workers, materials, time) taken into account
Performance Effectiveness
An OUTPUT measure of a task, goal, or accomplishment
Performance Efficiency
an INPUT measure of the resource costs associated with goal accomplishment
TOP MANAGERS
responsible for performance of an organization as a WHOLE or for one of its larger parts
MIDDLE MANAGERS
Report to top managers while being in charge of relatively large departments or divisions
(In charge of a branch, store manager of a big chain)
TEAM LEADERS OR SUPERVISORS
Someone who is in charge of a small work group composed of non-managerial workers
LINE MANAGERS
responsible for work activities that directly affect the organizations output (mcdonalds kitchen worker)
STAFF MANAGERS
Managers that use their expertise to advise and support the efforts of line workers (mcdonalds kitchen supervisor)
FUNCTIONAL MANAGERS
Managers that are responsible for a single area of activity (marketing of a company, finance, HR)
PLANNING
The process of setting objectives and determining what actions should be taken to achieve goals (OBJECTVE AND GOAL)
ORGANIZING
The process of assigning tasks, allocating resources and arranging the coordinated activities of individuals and groups to implement plans (RESOURCES- PEOPLE AND RAW MATERIAL)
LEADING
The process of arousing peoples enthusiasm to work hard and direct their efforts to fulfill plans and accomplish objectives
CONTROLLING
The process of measuring work performance, comparing results to objectives and taking corrective actions as needed.
Technical Skill
the ability to apply a special proficiency or expertise to perform particular tasks
Human Skill
The ability to work well in cooperation with others
Conceptual Skill
the ability to think critically and analytically to solve complex problems
FUNCTIONAL MANAGEMENT (IN GENERAL)
planning
organizing
controlling
leading
ORGANIZATION
a collection of people working together to achieve a common purpose
PROVIDES USEFUL GOODS OR SERVICES
RETURNS VALUE TO SOCIETY AND SATISFIES CUSTOMER NEEDS
WHAT IS MASS RESIGNATION- FACTORS OF IT
A large number of employees leave an organization within a short period of time
FACTORS=
poor working conditions
better opportunities elsewhere
collective action or strikes
mental health
pandemic
no work benefits (bonus)
