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Business Leadership > Chapter 1 Test Review > Flashcards

Chapter 1 Test Review Flashcards

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1
Q

Ethics

A
  • 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
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2
Q

Globalization

A

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

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3
Q

Intellectual Capital

A

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

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4
Q

Workforce Diversity

A

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

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5
Q

Glass Ceiling Effect

A

An invisible barrier that limits career advancement for minorities and women

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6
Q

Productivity

A

A MEASURE of QUANITY and QUALITY of PERFORMANCE with resource utilization (workers, materials, time) taken into account

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7
Q

Performance Effectiveness

A

An OUTPUT measure of a task, goal, or accomplishment

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8
Q

Performance Efficiency

A

an INPUT measure of the resource costs associated with goal accomplishment

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9
Q

TOP MANAGERS

A

responsible for performance of an organization as a WHOLE or for one of its larger parts

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10
Q

MIDDLE MANAGERS

A

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)

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11
Q

TEAM LEADERS OR SUPERVISORS

A

Someone who is in charge of a small work group composed of non-managerial workers

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12
Q

LINE MANAGERS

A

responsible for work activities that directly affect the organizations output (mcdonalds kitchen worker)

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13
Q

STAFF MANAGERS

A

Managers that use their expertise to advise and support the efforts of line workers (mcdonalds kitchen supervisor)

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14
Q

FUNCTIONAL MANAGERS

A

Managers that are responsible for a single area of activity (marketing of a company, finance, HR)

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15
Q

PLANNING

A

The process of setting objectives and determining what actions should be taken to achieve goals (OBJECTVE AND GOAL)

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16
Q

ORGANIZING

A

The process of assigning tasks, allocating resources and arranging the coordinated activities of individuals and groups to implement plans (RESOURCES- PEOPLE AND RAW MATERIAL)

17
Q

LEADING

A

The process of arousing peoples enthusiasm to work hard and direct their efforts to fulfill plans and accomplish objectives

18
Q

CONTROLLING

A

The process of measuring work performance, comparing results to objectives and taking corrective actions as needed.

19
Q

Technical Skill

A

the ability to apply a special proficiency or expertise to perform particular tasks

20
Q

Human Skill

A

The ability to work well in cooperation with others

21
Q

Conceptual Skill

A

the ability to think critically and analytically to solve complex problems

22
Q

FUNCTIONAL MANAGEMENT (IN GENERAL)

A

planning
organizing
controlling
leading

23
Q

ORGANIZATION

A

a collection of people working together to achieve a common purpose

PROVIDES USEFUL GOODS OR SERVICES

RETURNS VALUE TO SOCIETY AND SATISFIES CUSTOMER NEEDS

24
Q

WHAT IS MASS RESIGNATION- FACTORS OF IT

A

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)

25
Q

ESSENTIAL MANAGERIAL SKILLS

A

REFERING TO =
TECHNICAL SKILLS
HUMAN SKILLS
CONCEPTUAL SKILLS

26
Q

Challenges of working in the new economy

A

job displacement due to automation

job insecurity

work-life balance/burnout

remote work/ isolation

increased competition

rapid technological advancement

27
Q

AI and automation???

A

dont need training or wages

400 million jobs (15% worldwide) being replaced by automation/AI

robots are less expensive and don’t need healthcare or breaks + no illness or vacation leaves

tax substity- don’t have to pay robots or software that can do jobs for us

people who specialize/study IT will have a better chance of getting a job in the future than people who have degrees in other jobs

28
Q

Ethics

A

employee wellbeing
work-life balance
consumer safety

29
Q

Administrators

A

in charge of a non profit
(hospital, principle)

30
Q

General managers

A

responsible for complex multifunctional areas (department store- sales, marketing, accounting, personnel)

(plant manager- manufacturing, purchasing, warehousing, administration)

31
Q

Value creation

A

The activities and processes that increase the value of a product or service

32
Q

Quiet Quitting -consequences

A

remaining in the workplace while doing the bare minimum

productivity decreases
economy suffers

33
Q

How can companies attract workers

A

Extra pay
Benefits
Free courses or tuition from places like target and starbucks

34
Q

what to do before you quit

A

find other places that are fitting for you and apply

volunteer at places u find interesting

speak to a financial advisor

talk to your boss about possible changes you can make

35
Q

Managerial Competencies

A

Team work
communication
leadership
critical thinking
professionalism
self management

36
Q

MANAGERIAL ROLES

A

interpersonal role (INTERACTION)
- figure head
- leader
-liaison
informational role (INFO EXCHANGE)
- monitor
-disseminator
-spokesperson
Decisional role (INFO ON DECISION MAKING)
- entrepreneur
- disturbance handler
- resource allocator
-negotiator

37
Q

RESOURCE INPUTS (IMPORTANT)

A

RAW MATERIALS
HUMAN POWER
CAPITAL
LAND
TECHNOLOGY
INFORMATION

38
Q

PRODUCT OUTPUT (IMPORTANT)

A

VALUE ADDED
FINISHED GOODS/SERVICE

Business Leadership (1 decks)

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