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MGMT > EXAM 1 (Chapter 1-6) > Flashcards

EXAM 1 (Chapter 1-6) Flashcards

1
Q

organizational heroes

A

people celebrated for their qualities and achievements within an organization

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2
Q

Corporate-level strategy

A

the overall organizational strategy that addresses the question, “What business or businesses are we in or should we be in?”

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3
Q

controlling

A

monitoring progress toward goal achievement and taking corrective action when needed

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4
Q

Management by objectives

A

a four-step process in which managers and employees discuss and select goals, develop tactical plans, and meet regularly to review progress toward goal accomplishment

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5
Q

nominal group technique

A

a decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group

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6
Q

Single-use plans

A

plans that cover unique, one-time-only events

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7
Q

focus strategy

A

the positioning strategy of using cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment

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8
Q

disturbance handler role

A

the decisional role managers play when they respond to severe pressures and problems that demand immediate action

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9
Q

principle of religious injunctions

A

an ethical principle that holds that you should never take any action that is not kind and that does not build a sense of community

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10
Q

evaluation apprehension

A

fear of what others will think of your ideas

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11
Q

Direct competition

A

the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other’s strategic actions

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12
Q

proactive strategy

A

a social responsiveness strategy in which a company anticipates a problem before it occurs and does more than society expects to take responsibility for and address the problem

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13
Q

Decision criteria

A

the standards used to guide judgments and decisions

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14
Q

principle of utilitarian benefits

A

an ethical principle that holds that you should never take any action that does not result in greater good for society

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15
Q

Ethical responsibility

A

a company’s social responsibility not to violate accepted principles of right and wrong when conducting its business

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16
Q

preconventional level of moral development

A

the first level of moral development, in which people make decisions based on selfish reasons

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17
Q

spokesperson role

A

the informational role managers play when they share information with people outside their departments or companies

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18
Q

Ethical behavior

A

behavior that conforms to a society’s accepted principles of right and wrong

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19
Q

ethical intensity

A

the degree of concern people have about an ethical issue

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20
Q

Delphi technique

A

a decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue

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21
Q

Bargaining power of suppliers

A

a measure of the influence that suppliers of parts, materials, and services to firms in an industry have on the prices of these inputs

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22
Q

specific environment

A

the customers, competitors, suppliers, industry regulations, and advocacy groups that are unique to an industry and directly affect how a company does business

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23
Q

behavioral substitution

A

the process of having managers and employees perform new behaviors central to the new organizational culture in place of behaviors that were central to the old organizational culture

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24
Q

Cognitive maps

A

graphic depictions of how managers believe environmental factors relate to possible organizational actions

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25
Q

Political deviance

A

using one’s influence to harm others in the company

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26
Q

opportunistic behavior

A

a transaction in which one party in the relationship benefits at the expense of the other

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27
Q

Goal commitment

A

the determination to achieve a goal

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28
Q

stability strategy

A

a strategy that focuses on improving the way in which the company sells the same products or services to the same customers

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29
Q

Motivation to manage

A

an assessment of how enthusiastic employees are about managing the work of others

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30
Q

Whistle-blowing

A

reporting others’ ethics violations to management or legal authorities

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31
Q

open systems

A

systems that can sustain themselves only by interacting with their environments, on which they depend for their survival

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32
Q

stable environments

A

an environment in which the rate of change is slow

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33
Q

media advocacy

A

an advocacy group tactic that involves framing issues as public issues; exposing questionable, exploitative, or unethical practices; and forcing media coverage by buying media time or creating controversy that is likely to receive extensive news coverage

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34
Q

scientific management

A

thoroughly studying and testing different work methods to identify the best, most efficient way to complete a job

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35
Q

Organizing

A

deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom

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36
Q

strategic plans

A

overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years

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37
Q

bureaucracy

A

the exercise of control on the basis of knowledge, expertise, or experience

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38
Q

monitor role

A

the informational role managers play when they scan their environment for information

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39
Q

retrenchment strategy

A

a strategy that focuses on turning around very poor company performance by shrinking the size or scope of the business

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40
Q

Social responsiveness

A

a company’s strategy to respond to stakeholders’ economic, legal, ethical, or discretionary expectations concerning social responsibility

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41
Q

Planning

A

choosing a goal and developing a strategy to achieve that goal

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42
Q

punctuated equilibrium theory

A

the theory that companies go through long periods of stability (equilibrium), followed by short periods of dynamic, fundamental change (revolutionary periods), and then a new equilibrium

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43
Q

action plan

A

a plan that lists the specific steps, people, resources, and time period needed to attain a goal

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44
Q

shadow-strategy task force

A

a committee within a company that analyzes the company’s own weaknesses to determine how competitors could exploit them for competitive advantage

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45
Q

Decision making

A

the process of choosing a solution from available alternatives

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46
Q

maximize

A

choosing the best alternative

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47
Q

Behavioral addition

A

the process of having managers and employees perform new behaviors that are central to and symbolic of the new organizational culture that a company wants to create

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48
Q

resource allocator role

A

the decisional role managers play when they decide who gets what resources and in what amounts

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49
Q

disseminator role

A

the informational role managers play when they share information with others in their departments or companies

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50
Q

Social responsibility

A

a business’s obligation to pursue policies, make decisions, and take actions that benefit society

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51
Q

Discretionary responsibilities

A

the social roles that a company fulfills beyond its economic, legal, and ethical responsibilities

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52
Q

liaison role

A

the interpersonal role managers play when they deal with people outside their units

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53
Q

Personality-based integrity tests

A

a written test that indirectly estimates job applicants’ honesty by measuring psychological traits, such as dependability and conscientiousness

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54
Q

Secondary stakeholders

A

any group that can influence or be influenced by a company and can affect public perceptions about the company’s socially responsible behavior

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55
Q

Analyzers

A

companies using an adaptive strategy that seeks to minimize risk and maximize profits by following or imitating the proven successes of prospectors

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56
Q

Valuable resources

A

a resource that allows companies to improve efficiency and effectiveness

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57
Q

Tactical plans

A

plans created and implemented by middle managers that direct behavior, efforts, and attention over the next six months to two years

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58
Q

Environmental change

A

the rate at which a company’s general and specific environments change

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59
Q

slack resources

A

a cushion of extra resources that can be used with options-based planning to adapt to unanticipated changes, problems, or opportunities

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60
Q

Proximal goals

A

short-term goals or subgoals

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61
Q

economic responsibility

A

a company’s social responsibility to make a profit by producing a valued product or service

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62
Q

Differentiation

A

the positioning strategy of providing a product or service that is sufficiently different from competitors’ offerings that customers are willing to pay a premium price for it

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63
Q

response

A

a competitive countermove, prompted by a rival’s attack, to defend or improve a company’s market share or profit

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64
Q

distinctive competence

A

what a company can make, do, or perform better than its competitors

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65
Q

nonsubstitutable resources

A

a resource that produces value or competitive advantage and has no equivalent substitutes or replacements

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66
Q

Strategic reference points

A

the strategic targets managers use to measure whether a firm has developed the core competencies it needs to achieve a sustainable competitive advantage

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67
Q

contingency approach

A

holds that there are no universal management theories and that the most effective management theory or idea depends on the kinds of problems or situations that managers are facing at a particular time and place

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68
Q

satisficing

A

choosing a “good-enough” alternative

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69
Q

standing plans

A

plans used repeatedly to handle frequently recurring events

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70
Q

Supplier dependence

A

the degree to which a company relies on a supplier because of the importance of the supplier’s product to the company and the difficulty of finding other sources of that product

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71
Q

Environmental complexity

A

the number and the intensity of external factors in the environment that affect organizations

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72
Q

Employee shrinkage

A

employee theft of company merchandise

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73
Q

complex environments

A

an environment with many environmental factors

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74
Q

visible artifacts

A

visible signs of an organization’s culture, such as the office design and layout, company dress code, and company benefits and perks, such as stock options, personal parking spaces, or the private company dining room

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75
Q

Gantt chart

A

a graphical chart that shows which tasks must be completed at which times in order to complete a project or task

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76
Q

BCG matrix

A

a portfolio strategy developed by the Boston Consulting Group that categorizes a corporation’s businesses by growth rate and relative market share and helps managers decide how to invest corporate funds

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77
Q

Advocacy groups

A

concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions

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78
Q

Closed systems

A

systems that can sustain themselves without interacting with their environments

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79
Q

Primary stakeholders

A

any group on which an organization relies for its long-term survival

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80
Q

entrepreneur role

A

the decisional role managers play when they adapt themselves, their subordinates, and their units to change

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81
Q

Planning

A

determining organizational goals and a means for achieving them

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82
Q

negotiator role

A

the decisional role managers play when they negotiate schedules, projects, goals, outcomes, resources, and employee raises

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83
Q

Legal responsibility

A

a company’s social responsibility to obey society’s laws and regulations

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84
Q

Technical skills

A

the specialized procedures, techniques, and knowledge required to get the job done

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85
Q

Core capabilities

A

the internal decision-making routines, problem-solving processes, and organizational cultures that determine how efficiently inputs can be turned into outputs

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86
Q

postconventional level of moral development

A

the third level of moral development, in which people make decisions based on internalized principles

87
Q

External environments

A

all events outside a company that have the potential to influence or affect it

88
Q

principle of distributive justice

A

an ethical principle that holds that you should never take any action that harms the least fortunate among us: the poor, the uneducated, the unemployed

89
Q

Efficiency

A

getting work done with a minimum of effort, expense, or waste

90
Q

conventional level of moral development

A

the second level of moral development, in which people make decisions that conform to societal expectation

91
Q

options-based planning

A

maintaining planning flexibility by making small, simultaneous investments in many alternative plans

92
Q

devil’s advocacy

A

a decision-making method in which an individual or a subgroup is assigned the role of critic

93
Q

Human skills

A

the ability to work well with others

94
Q

Proximity of effect

A

the social, psychological, cultural, or physical distance between a decision maker and those affected by his or her decisions

95
Q

shareholder model

A

a view of social responsibility that holds that an organization’s overriding goal should be profit maximization for the benefit of shareholders

96
Q

principle of individual rights

A

an ethical principle that holds that you should never take any action that infringes on others’ agreed-upon rights

97
Q

principle of government requirements

A

an ethical principle that holds that you should never take any action that violates the law, for the law represents the minimal moral standard

98
Q

effectiveness

A

accomplishing tasks that help fulfill organizational objectives

99
Q

threat of new entrants

A

a measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry

100
Q

Procedures

A

standing plans that indicate the specific steps that should be taken in response to a particular event

101
Q

dynamic environments

A

an environment in which the rate of change is fast

102
Q

Budgeting

A

quantitative planning through which managers decide how to allocate available money to best accomplish company goals

103
Q

Environmental scanning

A

searching the environment for important events or issues that might affect an organization

104
Q

organizational stories

A

stories told by organizational members to make sense of organizational events and changes and to emphasize culturally consistent assumptions, decisions, and actions

105
Q

Recovery

A

the strategic actions taken after retrenchment to return to a growth strategy

106
Q

Simple environments

A

an environment with few environmental factors

107
Q

electronic brainstorming

A

a decision-making method in which group members use computers to build on each others’ ideas and generate as many alternative solutions as possible

108
Q

Character of the rivalry

A

a measure of the intensity of competitive behavior between companies in an industry

109
Q

C-type conflict

A

disagreement that focuses on problem- and issue-related differences of opinion

110
Q

Personal aggression

A

hostile or aggressive behavior toward others

111
Q

relative comparisons

A

a process in which each decision criterion is compared directly with every other criterion

112
Q

principle of long-term self-interest

A

an ethical principle that holds that you should never take any action that is not in your or your organization’s long-term self-interest

113
Q

compromise

A

an approach to dealing with conflict in which both parties give up some of what they want in order to reach agreement on a plan to reduce or settle the conflict

114
Q

Top managers

A

executives responsible for the overall direction of the organization

115
Q

Rules and regulations

A

standing plans that describe how a particular action should be performed or what must happen or not happen in response to a particular event

116
Q

figurehead role

A

the interpersonal role managers play when they perform ceremonial duties

117
Q

Cost leadership

A

the positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competitors can, so that the firm can offer the product or service at the lowest price in the industry

118
Q

integrative conflict resolution

A

an approach to dealing with conflict in which both parties indicate their preferences and then work together to find an alternative that meets the needs of both

119
Q

dialectical inquiry

A

a decision-making method in which decision makers state the assumptions of a proposed solution (a thesis) and generate a solution that is the opposite (antithesis) of that solution

120
Q

related diversification

A

creating or acquiring companies that share similar products, manufacturing, marketing, technology, or cultures

121
Q

leader role

A

the interpersonal role managers play when they motivate and encourage workers to accomplish organizational objectives

122
Q

a-type conflict

A

disagreement that focuses on individuals or personal issues

123
Q

general environment

A

the economic, technological, sociocultural, and political/legal trends that indirectly affect all organizations

124
Q

First-line managers

A

responsible for training and supervising the performance of nonmanagerial employees who are directly responsible for producing the company’s products or services

125
Q

Probability of effect

A

the chance that something will happen that results in harm to others

126
Q

attack

A

a competitive move designed to reduce a rival’s market share or profits

127
Q

reactive strategy

A

a social responsiveness strategy in which a company does less than society expects

128
Q

Suppliers

A

companies that provide material, human, financial, and informational resources to other companies

129
Q

operational plans

A

day-to-day plans, developed and implemented by lower-level managers, for producing or delivering the organization’s products and services over a thirty-day to six-month period

130
Q

Middle managers

A

responsible for setting objectives consistent with top management’s goals and for planning and implementing subunit strategies for achieving these objectives

131
Q

problem

A

a gap between a desired state and an existing state

132
Q

Business confidence indices

A

indices that show managers’ level of confidence about future business growth

133
Q

S.M.A.R.T. goals

A

goals that are specific, measurable, attainable, realistic, and timely

134
Q

Defenders

A

companies using an adaptive strategy aimed at defending strategic positions by seeking moderate, steady growth and by offering a limited range of high-quality products and services to a well-defined set of customers

135
Q

Core firms

A

the central companies in a strategic group

136
Q

Market commonality

A

the degree to which two companies have overlapping products, services, or customers in multiple markets

137
Q

Stars

A

a company with a large share of a fast-growing market

138
Q

Motion study

A

breaking each task or job into its separate motions and then eliminating those that are unnecessary or repetitive

139
Q

soldiering

A

when workers deliberately slow their pace or restrict their work output

140
Q

dogs

A

a company with a small share of a slow-growing market

141
Q

stakeholder model

A

a theory of corporate responsibility that holds that management’s most important responsibility, long-term survival, is achieved by satisfying the interests of multiple corporate stakeholders

142
Q

Management

A

getting work done through others

143
Q

Synergy

A

when two or more subsystems working together can produce more than they can working apart

144
Q

Bargaining power of buyers

A

a measure of the influence that customers have on a firm’s prices

145
Q

situational analysis

A

an assessment of the strengths and weaknesses in an organization’s internal environment and the opportunities and threats in its external environment

146
Q

Portfolio strategy

A

a corporate-level strategy that minimizes risk by diversifying investment among various businesses or product lines

147
Q

Brainstorming

A

a decision-making method in which group members build on each others’ ideas to generate as many alternative solutions as possible

148
Q

strategic objective

A

a more specific goal that unifies company-wide efforts, stretches and challenges the organization, and possesses a finish line and a time frame

149
Q

Technology

A

the knowledge, tools, and techniques used to transform inputs into outputs

150
Q

Industry-level strategy

A

a corporate strategy that addresses the question, “How should we compete in this industry?”

151
Q

Team leaders

A

managers responsible for facilitating team activities toward goal accomplishment

152
Q

Resource similarity

A

the extent to which a competitor has similar amounts and kinds of resources

153
Q

acquisitions

A

the purchase of a company by another company

154
Q

Company mission

A

a company’s purpose or reason for existing

155
Q

leading

A

inspiring and motivating workers to work hard to achieve organizational goals

156
Q

Imperfectly imitable resources

A

a resource that is impossible or extremely costly or difficult for other firms to duplicate

157
Q

Ethics

A

the set of moral principles or values that defines right and wrong for a person or group

158
Q

Social consensus

A

agreement on whether behavior is bad or good

159
Q

Competitors

A

companies in the same industry that sell similar products or services to customers

160
Q

Secondary firms

A

the firms in a strategic group that follow strategies related to but somewhat different from those of the core firms

161
Q

Buyer dependence

A

the degree to which a supplier relies on a buyer because of the importance of that buyer to the supplier and the difficulty of finding other buyers for its products

162
Q

Conceptual skills

A

the ability to see the organization as a whole, understand how the different parts affect each other, and recognize how the company fits into or is affected by its environment

163
Q

Cash cows

A

a company with a large share of a slow-growing market

164
Q

Prospectors

A

companies using an adaptive strategy that seeks fast growth by searching for new market opportunities, encouraging risk taking, and being the first to bring innovative new products to market

165
Q

Question marks

A

a company with a small share of a fast-growing market

166
Q

production deviance

A

unethical behavior that hurts the quality and quantity of work produced

167
Q

growth strategy

A

a strategy that focuses on increasing profits, revenues, market share, or the number of places in which the company does business

168
Q

competitive advantage

A

providing greater value for customers than competitors can

169
Q

Stakeholders

A

persons or groups with a stake, or legitimate interest, in a company’s actions

170
Q

Rational decision making

A

a systematic process of defining problems, evaluating alternatives, and choosing optimal solutions

171
Q

competitive inertia

A

a reluctance to change strategies or competitive practices that have been successful in the past

172
Q

threat of substitute products or services

A

a measure of the ease with which customers can find substitutes for an industry’s products or services

173
Q

diversification

A

a strategy for reducing risk by buying a variety of items (stocks or, in the case of a corporation, types of businesses) so that the failure of one stock or one business does not doom the entire portfolio

174
Q

domination

A

an approach to dealing with conflict in which one party satisfies its desires and objectives at the expense of the other party’s desires and objectives

175
Q

production blocking

A

a disadvantage of face-to-face brainstorming in which a group member must wait to share an idea because another member is presenting an idea

176
Q

Resource scarcity

A

the abundance or shortage of critical organizational resources in an organization’s external environment

177
Q

principle of personal virtue

A

an ethical principle that holds that you should never do anything that is not honest, open, and truthful and that you would not be glad to see reported in the newspapers or on TV

178
Q

relationship behavior

A

the establishment of mutually beneficial, long-term exchanges between buyers and suppliers

179
Q

unrelated diversification

A

creating or acquiring companies in completely unrelated businesses

180
Q

absolute comparisons

A

a process in which each decision criterion is compared to a standard or ranked on its own merits

181
Q

system

A

a set of interrelated elements or parts that function as a whole

182
Q

grand strategy

A

a broad corporate-level strategic plan used to achieve strategic goals and guide the strategic alternatives that managers of individual businesses or subunits may use

183
Q

Strategic dissonance

A

a discrepancy between a company’s intended strategy and the strategic actions managers take when implementing that strategy

184
Q

Time study

A

timing how long it takes good workers to complete each part of their jobs

185
Q

organization

A

a system of consciously coordinated activities or forces created by two or more people

186
Q

internal environment

A

the events and trends inside an organization that affect management, employees, and organizational culture

187
Q

competitive analysis

A

a process for monitoring the competition that involves identifying competition, anticipating their moves, and determining their strengths and weaknesses

188
Q

Temporal immediacy

A

the time between an act and the consequences the act produces

189
Q

defensive strategy

A

a social responsiveness strategy in which a company admits responsibility for a problem but does the least required to meet societal expectations

190
Q

rate buster

A

a group member whose work pace is significantly faster than the normal pace in his or her group

191
Q

consistent organizational cultures

A

a company culture in which the company actively defines and teaches organizational values, beliefs, and attitudes

192
Q

organizational culture

A

the values, beliefs, and attitudes shared by organizational members

193
Q

strategic group

A

a group of companies within an industry against which top managers compare, evaluate, and benchmark strategic threats and opportunities

194
Q

public communications

A

an advocacy group tactic that relies on voluntary participation by the news media and the advertising industry to get the advocacy group’s message out

195
Q

Property deviance

A

unethical behavior aimed at the organization’s property or products

196
Q

Magnitude of consequences

A

the total harm or benefit derived from an ethical decision

197
Q

Policies

A

standing plans that indicate the general course of action that should be taken in response to a particular event or situation

198
Q

Workplace deviance

A

unethical behavior that violates organizational norms about right and wrong

199
Q

reactors

A

companies that do not follow a consistent adaptive strategy but instead react to changes in the external environment after they occur

200
Q

sustainable competitive advantage

A

a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate

201
Q

Overt integrity tests

A

a written test that estimates job applicants’ honesty by directly asking them what they think or feel about theft or about punishment of unethical behaviors

202
Q

purpose statement

A

a statement of a company’s purpose or reason for existing

203
Q

uncertainty

A

extent to which managers can understand or predict which environmental changes and trends will affect their businesses

204
Q

rare resources

A

a resource that is not controlled or possessed by many competing firms

205
Q

product boycott

A

an advocacy group tactic that involves protesting a company’s actions by persuading consumers not to purchase its product or service

206
Q

concentration of effect

A

the total harm or benefit that an act produces on the average person

207
Q

industry regulation

A

regulations and rules that govern the business practices and procedures of specific industries, businesses, and professions

208
Q

subsystems

A

smaller systems that operate within the context of a larger system

209
Q

distal goals

A

long-term or primary goals

210
Q

Firm-level strategy

A

a corporate strategy that addresses the question, “How should we compete against a particular firm?”

211
Q

Groupthink

A

a barrier to good decision making caused by pressure within the group for members to agree with each other

212
Q

accommodative strategy

A

a social responsiveness strategy in which a company accepts responsibility for a problem and does all that society expects to solve that problem

213
Q

SEPTE

A

Four components of the environment

Socialcutural
Economy
Technology 
Political/legal trends
Ecological

MGMT (3 decks)

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