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World Of Business > Chapter 7-10 > Flashcards

Chapter 7-10 Flashcards

1
Q

Process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.

A

Management

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2
Q

Anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives

A

Planning

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3
Q

Designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization’s goals and objectives

A

Organizing

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4
Q

Creating a vision for the organization and communicating, guiding, training, coaching, and motivating others to achieve goals and objectives in a timely matter

A

Leading

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5
Q

Establishes clear standards to determine whether an organization is progressing toward its goal and objectives, rewarding people for doing a good job, and taking corrective action of not.

A

Controlling

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6
Q

Encompassing application of why the organization existed and where it’s trying to lead. More than a goal

A

Vision

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7
Q

Outline of the fundamental purposes of an organization

A

Mission statement

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8
Q

Broad, long-term accomplishments an organization wishes to attain

A

Goals

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9
Q

Specific, short-term statements detailing how to achieve the organization’s goals. (Ex: “What do I want to accomplish today?”)

A

Objectives

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10
Q

Planning tool used to analyze an organization’s strengths, weaknesses, opportunities, and threats

A

SWOT analysis

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11
Q

Process of determine the major goals of the organization and the policies and strategies for obtaining and using resources to achieve these goals

A

Strategic planning

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12
Q

Process of developing detailed, short-term statements about what is to be done, who is to do it, and how it should be done.

A

Tactical planning

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13
Q

Process of setting work standards and schedules necessary to implement the company’s tactical objectives.

A

Operational Planning

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14
Q

Process of preparing alternative courses of action the firm can use if its primary plans don’t work out.

A

Contingency planning

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15
Q

Choosing among two or more alternatives which sounds easier than it is

A

Decision making

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16
Q

Less formal than decision making and usually calls for quicker action to resolve everyday issues

A

Problem solving

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17
Q

Coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas

A

Brainstorming

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18
Q

Listing all pulses for a solution, minutes in another, and implications in a another column

A

PMI

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19
Q

Ability to perform tasks in a specific discipline or department

A

Technical skills

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20
Q

Involve common action and motivation, work through and with people

A

Human relations skills

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21
Q

Ability to picture the organization as a whole and the relationships among the various parts

A

Conceptual skills

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22
Q

Recruiting, hiring, motivating, and retaining the best people available to accomplish the company’s objectives.

A

Staffing

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23
Q

Finding the right information, keeping the information readily accessible place and making it known to everyone

A

Knowledge management

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24
Q

Presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders.

A

Transparency

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25
Q

Leadership style that involves making managerial decisions without consulting others

A

Autocratic leadership

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26
Q

Consists of managers and employees working together to make decisions

A

Participative or Democratic leadership

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27
Q

Managers setting objectives and employees being free to do whatever it takes to accomplish those objectives

A

Free-rein leadership

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28
Q

Giving workers the education and tools they need to make decisions

A

Enabling

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29
Q

Dealers buy products to sell to others or customers who buy for personal use.

A

External customers

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30
Q

Individuals and units within the firm that receive services from other individuals or units

A

Internal Customers

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31
Q

Companies can reduce heir production costs by purchasing raw materials in bulk

A

Economies of scale

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32
Q

System in which one person is at the top of the organization and there is a rank or sequential ordering from top down of managers

A

Hierarchy

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33
Q

Line of authority that moves from the top of the hierarchy to the lowest level

A

Chain of command

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34
Q

Shows relationships of the workers

A

Organizational chart

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35
Q

Organization with many layers of managers who set rules and regulations and oversees all decisions

A

Bureaucracy

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36
Q

Decision-making authority is maintained at the top level of management

A

Centralized authority

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37
Q

Delegates to lower level managers more familiar with local conditions

A

Decentralized authority

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38
Q

Optimal number of subordinates a manager supervised or should supervise

A

Span of control

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39
Q

Pyramidal organization chart that is quite tall because of various levels of management

A

Tall organization structure

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40
Q

Few layers of management and a broad span of control

A

Flat organizational structures

41
Q

Dividing organizational functions into separate units.( function-design, production, marketing and accounting )

A

Departmentalization

42
Q

Direct two way lines of responsibility, authority, and communication running from the top to bottom of the organization, with all people reporting to one supervisor

A

Line organization

43
Q

Employees who are part of the chain of command that is responsible for achieving organizational goals

A

Line personnel

44
Q

Employees who advise and assist line personnel in meeting their goals

A

Staff personnel

45
Q

Specialists from different parts of the organization are brought together to work on specific projects but still remain as a line staff structure

A

Matrix organization

46
Q

Groups of employees from different departments who work together on a long term basis

A

Cross functional self managed teams

47
Q

Using communications technology and other means to link organizations and allow them to work together on common objectives

A

Networking

48
Q

Temporary networked organization made up of replaceable firms that join and leave as needed

A

Virtual corporation

49
Q

Comparing an organization’s practices, processes, and products, against the world’s best

A

Benchmarking

50
Q

Functions it can do as well as or better than any other organization’s in the world. (Ex: Nike designing and marketing)

A

Core competencies

51
Q

Young people who have grown up using the internet and social networking

A

Digital natives

52
Q

Redesigning an organization so it can more effectively and efficiently serve its customers

A

Reconstructing

53
Q

Contact people at the top and chief executive officer at the bottom of the organization

A

Inverted organization

54
Q

Widely shared values within an organization that provide unity and cooperation to achieve common goals

A

Organizational or cooperate culture

55
Q

Details lines of responsibility, authority, and position; show. On organizational charts

A

Formal organization

56
Q

Develops spontaneously as employees meet and form cliques, relationships, and lines of authority outside formal organization

A

Informal organization

57
Q

Creation of finished goods and services using the factors of production, land, labor, capital, entrepreneurship, and knowledge to produce outputs

A

Production

58
Q

Describe management activities that helped firms create goods

A

Production management

59
Q

Specialized are in management that converts or transforms resources into goods and services

A

Operations management

60
Q

Value producers add to materials in the creation of finished goods and services

A

Form utility

61
Q

Physically or chemically changes materiels

A

Process manufacturing

62
Q

Puts together components to make the product

A

Assembly process

63
Q

Long production runs turn out finished goods over time

A

Continuous process

64
Q

Production run is short and the machines are changed frequently to make different products

A

Intermittent process

65
Q

Designing machines to do multiple tasks so they can produce a variety of products

A

Flexible manufacturing

66
Q

Production of goods using less of everything compared to mass production; less human, less manufacturing, space, less investment in tools, and less engineering time

A

Lean manufacturing

67
Q

Tailoring products to meet the needs of individual customers

A

Mass customization

68
Q

Process of selecting a geographical location for a company’s operations

A

Facility location

69
Q

Working from home via computer

A

Telecommuting

70
Q

Physical arrangement of resources, including people, to most efficiently produce goods and provide services for customers

A

Facility layout

71
Q

Computer based operations management system that uses sales forecasts to make some needed part and materials are available at the right time and place

A

Materials requirement planning (MRP)

72
Q

Newer version of MRP, combines computerized functions of all divisions and subsidiaries of the firm such as finance, Human Resources, and other fulfillment into a single integrated software program that uses a single database

A

Enterprise resource planning

73
Q

Function in a firm that searches for high quality material resources, finds the best suppliers, and negotiates the best price for goods and services

A

Purchasing

74
Q

Minimum of inventory on the premises and deliver parts, supplies, and other needs just in time to go on the assembly line.

A

Just in time inventory control

75
Q

Consistently producing what the customer wants while reducing errors before and after delivery to the customers

A

Quality

76
Q

Sets a benchmark of just 3.4 defects per million opportunities.

A

Six sigma quality

77
Q

Process some managers use to continually monitor all phases of the production process and ensure quality is being built into the product from the beginning

A

Statistical quality control SQC

78
Q

Common name given to quality management and assurance standards

A

ISO 9000

79
Q

Collection of the best practices for managing an organization’s impact in the environment

A

ISO 14000

80
Q

Method for analyzing tasks involved in completing a given project, estimation the time needed to complete each task, and identifying the minimum time needed to complete the total project.

A

Program evaluation and review techniques PERT

81
Q

Sequence of tasks that takes the longest time to complete

A

Critical path

82
Q

Bar graph showing production managers what projects are being worked on and what stage they are in at any given time

A

Gantt Chart

83
Q

Personal satisfaction to feel when you perform well and complete goals

A

Intrinsic Reward

84
Q

Given to you by someone else as recognition for good work

A

Extrinsic award

85
Q

Studying workers to find the most efficient ways of doing things and then teaching people those techniques

A

Scientific management

86
Q

Begun by Fredrick Taylor, of which tasks must be performed to complete a job and the time needed to do each task

A

Tone motion studies

87
Q

Theory developed by frank and Lilian Gilbreth that every job can be broken down into a series of elementary motions

A

Principal of motion economy

88
Q

Tendency for people to behave differently when they know they are being studied

A

Hawthorne effect

89
Q

Herzberg’s theory of motivating factors, job factors that cause employees to be productive and that gives them satisfaction

A

Motivators

90
Q

Herzberg’s theory of motivating factors, job factors that can cause dissatisfaction if missing but that do not necessarily motivate employees if increased

A

Hygiene factors

91
Q

Setting ambitious but attainable goals can motivate workers and improve performance if the goals are accepted and accompanied by feedback, and if conditions in the organization pave the way for achievement

A

Goal setting theory

92
Q

System of goal setting and implementation; it invokes a cycle of discussion, review, and evaluation of objectives among top and middle level managers, supervisors, and employees

A

Management by objective MBO

93
Q

Victor vroom’s theory that the amount of effort employees exert in a specific task depends on their expectations of the outcome

A

Expectancy theory

94
Q

Skinners theory from 1948, positive and negative reinforcers motivate a person to behave in certain ways

A

Reinforcement theory

95
Q

Trying to stop behavior by not responding

A

Extinction

96
Q

Idea that employees try to maintain equity between inputs and outputs compared to others in similar positions

A

Equity theory

97
Q

Motivational strategy that emphasizes motivating the worker through the job itself

A

Job enrichment

98
Q

Job enrichment strategy that involves combining a series of tasks into one challenging and interesting assignment

A

Job enlargement

99
Q

Job enrichment strategy that involves moving employees from one job to another

A

Job rotation

World Of Business (3 decks)

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