Exam 2 Flashcards
Management
A process designed to achieve an organizations objectives by using resources effectively and efficiently
staffing
The hiring of people to carry out the work of the organization
downsizing
The eliminations of a significant number of employees from a business
Planning
The process of determining the organizations objectives and deciding how to accomplish them
Mission
A declarations of an organizations fundamental purpose and basic philosophy
goals
aspirational statements written in general terms that reflect what an organization or individual wants to achieve over the long term
Objectives
measurable benchmarks that derive from the organizations mission and goals
Key Performance Indicators (KPIs)
the specific quantitative metrics that are measured and analyzed to measure progress towards objectives
Strategic Plans
Establish the long range objectives and overall strategy or course of actions by which the firm fulfills its mission
Tactical Plans
Short range plans that are designed to implement activities and objectives specified in the strategic plan
Operational Plans
very short term and specify what actions people need to do in order to achieve the tactical plan and then the strategic plan
Crisis Management (Contingency planning)
Deals with potential disasters
Organizing
the structuring of resources and activities to accomplish objectives in an efficient and effective manner
Business model
How a firm creates delivers and is organized to operate and provide value to stakeholders
Directing
Motivating and leading the employees and achieve organizational objectives
Controlling
the process of evaluating and correcting activities to keep the organization on course
High Level Managers
the president, and other top executives. They spend most of their time planning
Middle Management
Repsonsible for tactical and operational planning that will implement the general guidelines established by the high level management
Front-Line management
those who supervise the workers and the daily operations of the company
Technical Expertise
the specialized knowledge and training required to perform jobs related to their area of management
Conceptual skills
The ability to think in abstract terms and to see how parts fit together to form a whole
Analytical skills
the ability to identify relevant issues and recognize their importance and relationship
Human Relations skills
the ability to deal with people both inside and outside of the organization
Leadership
the ability to influence employees to work toward organizational goals
Autocratic Leaders
Make all the decisions and then tell everyone else what must be done
Democratic leaders
Involve others/employees in their decisions
Free reign leaders
let their employee work without much interference
Authentic leadership
passionate about the mission and form long term relationships with the stakeholders
Servant leaders
leaders that consider the needs of the employee first and form strong, personal relationships
Employee Empowerment
Occurs when employees are provided with the ability to take on responsibilities and make decisions about their jobs
Brainstorming
A technique in which group members spontaneously suggest ideas to solve a problem
Agenda
contains both specific and vague items covering all kinds of objectives
Networking
Building relationships and sharing information with colleagues who can help them achieve the items on their agendas
Organizational Culture
A firms shared values, beliefs, traditions, principles, rules, and role models for behavior
Structure
The arrangement or relationship of positions within an organization
Organizational Chart
Visual displays oof organizational structure and other relationships
Specialization
The division of labor into small, individual tasks and the assignment of employees to do those tasks
Departmentalization
the grouping of jobs into working units usually called departments units or divisions
Functional Departmentalization
groups jobs that perform similar functional activities such as finance, marketing, and Human Resources
Product departmentalization
Organizes jobs around the products of the firm
Geographical Departmentalization
Groups jobs according to geographic location
Customer Departmentalization
Arranges jobs around the needs of various types of customers
Delegation of Authority
Delegation of authority is the act of transferring power or responsibility from one person or entity to another.
Responsibility
Obligation
Accountability
Employees who accept an assignment and the authority to carry it out are responsible to a superior for the outcome
Centralized organizations
Authority is concentrated at the top and very little decision making is delegated to lower levels
Decentralized organizations
where decision making authority to delegated as far down the chain of command as possible
Span of management
refers to the number of subordinates who report to a particular manager
Organizational Structure
The levels of management in an organization
Line Structure
Has direct lines of authority that extend from the top to the bottom
Line and Staff Structure
Has a traditional line relationship between superiors and subordinates
Multidivisional Strategy
Organizes departments into larger groups called divisions
Matrix Structure
Sets ups teams from different departments thereby creating two or more intersecting lines of authority
Group
Two or more individuals who communicate with each other and have a common goal
Team
Small group where members have complementary skills, purpose, and goal
Committee
a permanent, formal group that does some specific task
Task force
A temporary group of employees responsible for bringing about a particular change
Project Teams
They run operation and have total control of a specific work project
Product development teams
special form of project team devised to design a new product
Quality Assurance Teams
a group of specialists who ensure a product meets quality standards and user needs
Self directed teams
Group of employees responsible for an entire work process or segment that delivers a product to an internal or external customer
Grapevine
An informal channel of communication separate from managements formal official communication channels
Operations Management
the process of managing a business’s processes and practices to increase efficiency and profit
Operations
Those processes used in the making of both tangible and intangible products
Inputs
Resources
Products
Goods, services, and ideas
standardization
making identical, interchangeable, components or even complete products
Modular Design
building an item in self contained units or modules that can be combined or interchanges to create different products
customization
making products meet a particular customer’s needs or wants
Capacity
The maximum load that a company can operate on
Fixed Position layout
Brings all resources required to create the product to a central location
Project organization
the process of managing a project by coordinating roles, responsibilities, tasks, and timelines
Process Layout
Organize the transformation process into departments that group related processes
Intermittent organizations
deal with products of a lesser magnitude than do project organizations and their products
Product layout
Requires the production to be broken down into relatively simple tasks assigned to workers who are usually positioned along an assembly line
continuous manufacturing organization
once they are set up, they run continuously creating products with many similar characteristics
Computer Assisted Design (CAD)
the design components products and processes on a computer rather than on paper
Computer- aided Manufacturing (CAM)
manufacturing that employs specialized computer systems to actually guide and control the transformation process
Flexible manufacturing
Computers can direct machinery to adapt to different versions of similar operations
Computer integrated manufacturing
a complete system that designs products, manages machines, and materials, and controls the operations function
Supply Chain management
Connecting and integrating all parties or members of the distribution system in order to satisfy customers
Purchasing
Buying all of the materials needed by the organization
inventory
the materials completed, or partially completed products, and equipment that a company uses
inventory control
The process of determining how many supplies and goods are needed and keeping track go quantities on hand where each item is
Economic Order quantity
Identifies the optimum number of items to order to minimize the costs of managing
Just in time inventory management
a technique using smaller quantities of materials that arrive “just in time” for use in the transformation process and therefore require less storage space and other inventory management expense.
material requirements planning
a planning system that schedules the precise quantity go materials needed to make the product
Routing
Sequence of operations through which the product must pass
Scheduling
Assigns the tasks to be done to departments or even specific machines workers or teams
Quality control
The processes an organization uses to maintain its established quality standards
Total Quality Management
a company-wide strategy to consistently improve products and services to meet customer expectations
ISO 9000
a series of quality assurance standards designed by the International Organization for Standardization (ISO) to ensure consistent product quality under many conditions.
ISO 14000
a comprehensive set of environmental standards that encourages a cleaner and safer world by promoting a more uniform approach to environmental management and helping companies attain and measure improvements in their environmental performance.
ISO 19600
a comprehensive set of guidelines for compliance management that address risks, legal requirements, and stakeholder needs.
Human Relations
Relations with other employees
Motivation
An inner drive that directs a persons behavior towards goals
Morale
An employees attitude toward their job, employer, and colleagues
Intrinsic Reward
Personal Satisfaction and enjoyment that you feel from attaining a goal
Extrinsic Reward
benefits or recognition that you receive from someone else
Classical Theory of motivation
Money is the sole motivator for workers
Maslows Hierarchy of Needs
a theory that arranges the five basic needs of people—physiological, security, social, esteem, and self-actualization—into the order in which people strive to satisfy them.
Psychological Needs
Essential needs for living
Security Needs
Protecting yourself from from physical and economic Harm
Social Needs
The need for love, companionship, and friendship
Esteem Needs
Self respect and respect from others
Self-Actualization Needs
Maximizing your self potential
Hygiene Factors
The work setting and the condition of that Work
Motivational Factors
the incentives and strategies that encourage employees to perform well
Theory X
Assumes that workers generally dislike work and sit be forced to do their jobs
Theory Y
Assumes that Workers enjoy work and under proper conditions will work better
Theory Z
A management Philosophy that stresses employee participation in all aspects of company decision making
Equity Theory
How much people are willing to contribute to an organization depends on their assessment of the fairness, or equity of the rewards
Expectancy Theory
Motivation depends on not only how much a person wants something, but also on the persons perception of how likely they are to get it
Goal Setting Theory
The impact that setting goals has on performance
Behavior Modification
Changing behavior and encouraging appropriate actions by relating the consequences of behavior to the behavior
Reinforcement theory
the theory that behavior can be strengthened or weakened through the use of rewards and punishments.
Job rotation
Allows employees to move from one job to another
Job enlargement
Adds more tasks to a job instead of treating each task as separate
Job enrichment
Incorporates motivational factors such as opportunity for achievement
Flextime
a program that allows employees to choose their starting and ending times
Compressed Workweek
a 4 day work week where the employee still works 40 hours
Job Sharing
Occurs when two people do one Job
remote Work
Working arrangement where employees mainly work from home
Hybrid Work
Blends office and remote work
Asynchronous work
a flexible scheduling strategy that allows employees to set their own work hours and work independently from their colleagues
Human Resource Management
Refers to all activities involved in determining an organizations human resource needs as well as acquiring training, and compensating people to fill those needs
Job Analysis
Through observation determines pertinent information about a job, and the tasks that comprise it
Job Description
the description and duties of a job
Job specification
The qualifications necessary for a specific job
Recruiting
Forming a pool of qualified people from whom management can select employees
Selection
the process of collecting information about applicants and using that information to decide which ones to hire
Pre-Employment Assessments
Are given to test job candidates to determine if the applicant has the needed skills for the job
title 7 of the civil rights act
prohibits discrimination in employment based on race, color religion and national origin
Americans with Disabilities Act (ADA)
Prevents discrimination against people with disabilities
Age Discrimination in Employment Act
Outlaws discrimination based on Age
Equal Pay Act
Prohibits discrimination based on Sex
Orientation
Familiarizes the newly hired employees with fellow workers company procedures and the physical properties of the company
Training
Teaching employees to do specific job taks
Mentoring
Involves supporting and guiding an employees professional development
Development
Training that augments skills and knowledge of managers and professionals
turnover
When employees quit and must be replaced with new employees
promotion
the advancement to a higher level job
Transfer
a move to another job within the company
Separations
occur when employees resign, retire, or are laid off
Wage/Salary survey
Tells the company how much compensation firs are paying for a specific job
Commission
Pays a fixed percentage on a sale to the employee
salary
a financial reward calculated on a weekly or annual basis
Bonuses
Extra pay for exceptional performance and is used as an incentive
profit sharing
Distributes a percentage of company profits to the employees whose work helped to generate those profits
Benefits
Forms of compensation provided to employees that are nor part of an employee’s wages
Labor unions
employee organizations formed to deal with employers for achieving better pay, hours, and working conditions.
Collective Bargaining
The negotiation process through which management and unions reach an agreement about compensation
Labor Contract
The formal, written document that spells out the relationship between the union and the management
Picketing
a public protest against managemt practices and involves union members marching at the work site
Strikes
A union makes carrying out the normal operations of business difficult at best and impossible at worst
Boycott
An attempt to keep people from purchasing the products of the company
Lockout
Management closes a worksite so that employees cannot go to work
Strikebreakers
“scabs” people hired by management to replace striking employees
Conciliation
Brings in a neutral third party to keep labor and management talking
Mediation
Bringing in a third party but he mediators role is to suggest or propose a solution to the problem
Arbitration
Neutral third party, but the arbiter’s decisions in legally binding
Equity
Refers to providing equal opportunities and air treatment for all employees
Inclusion
The degree to which diverse individuals are valued and welcomed by the organization
Affirmative Action Programs
Legally mandated plans that try to increase job opportunities for underrepresented groups
What are the 4 Functions of Management?
Planning, Organizing, Leading, Controlling
