global management studies Flashcards
overview of 21st century work place
- organization must adapt to rapidly changing society
- economy us global and driven by innovation
- high performing companies gain extraordinary results from people working for them
- interdependent knowledge based
intellectual capital
collective brainpower or shared knowledge of a workforce that creates value
globalization
worldwide interdependence of resource flows, product markets and business competition
- characterizes the new economy
technology
- creates increasing of demand of knowledge workers that can operate technology
internet, web, computers, information technology
diversity
reflects differences of gender age race ethnicity
ethics
- moral code of principles
careers
skills must be portable and current
critical skills for the workplace
- mastery
-contancts - entrepreneurship
- love of technology
- marketing
- passion for renewal
organization
a collection of people working together to achieve common theme
- provides good and or services
organizations are open systems
- composed on interrelated parts that function as one
- interact environments
- transforms inputs into product outputs
- environmental feedback tells organizations how it is being received
organizational performance
value is created when an organizations operations adds values to the original cost of inputs
value creation occurs when
- business earns a profit
- non profit organizations add wealth into society
productivity
- overall measure of the quantity and quality of work performance
performance effectiveness
- output measure of task or goal
performance efficiencey
- an input measure of the resource costs associated with goal accomplishments
importance of human resource managers
toxic workplaces
- high performing organizations create people as valuable assets
- managers must ensure that people are treated as strategic assets
what is a manager
a person in organization who supports and is respobile for the work of others
levels of mangers
top mangers , middle managers, project managers team leaders.
top mangers
- responsible for performance of an organization as a whole or its large parts
middle mangers
in charge of relatively large departments or divisions
project managers
coordinate complex projects with task deadlines
team leaders or supervisors
in charge of a small work group of non manergieal workers
responsiblites of team leaders
- plan meetings and schedules
- clarify goals and tasks
- appraise performance
- recommended okay raises
- recruit develop and train
types on mangers
line mangers , staff mangers, functional managers, general managers, administrators
line manger
responsible for work activities that affect organizations outputs
staff managers
technical experistse to advise and support efforts of line workers
functional managers
responsible for a single area of activity
general mangers
responsible for more complex units that include many functional areas
administrators
work in public and non profit organizations
managerial performance and accountability
- accountability is the requirement of one persons to answer to a higher authority
- effective mangers fulfil performance accountability
quality of work life
- indicator of overall quality of human experiences in a work place
fair pay, safe working conditions, oppurtuintes
high performing managers
- build working relationships with others
- help others develop their skills and performance
- foster teamwork
- create work environment that is performance driven
organizations are upside down pyramid
1, customers and clients
2. operating workers
3. team leaders and mangers
4. top managers
4 functions of management
process of planning organizing leanding and controlling the use of resources to accomplish performance goals
planning
- the process of setting objectives and determining what actions should be taken to accomplish them
organizing
process of assigning tasks allocating resources and arranging coordinated activities
leading
the process of arousing peoples enthusiasm to work hard and direct their efforts to fulfil plans
controlling
the process of measuring work performances comparing results to objectives and taking corrective action as needed
interpersonal roles
- involves interactions with persons inside and outside of the work unit
informational roles
- involves giving receiving and analyzing of information
decision roles
- involves using information to make decisions in order to solve problems or address oppurtuinites
characteristics of managerial work
- mangers work,,,
- long hours
- at an intense pace
- at fragmented and varied tasks
agenda setting
- development of action prostates for ones job
include goals and plans that span long and short time frames
networking
- process of building and maintaining positive relationships with people whose help may be needed to implement ones work agenda
essteial managerial skills
skill
- ability to translate knwoledge into action
technical skill
- ability to apply a special profeccicant to a task
human skin
- ability to work well with others
conceptual skill
- to think critically and analytically to solve complex problems
material competency
- a skill based capability that contributes to high performance in a management job
knowledge worker
- intellectual capital
- priorities knowledge
what is electronic commerce
b2c- business to consumer b2b business to business
stages of development in e-commerce
- online identity
-establish a web presence - enable e-commerce
- provide e comers and customer relationship management
- utilizes a service application model
it
- p2p
- raw data
information is data ,Ade available for decision making
good information must be
timely, high quality complete revilement and understandable
information systems
- management systems mis
decision support systems dss
artifactual integenfes ai
performance deficiancy
performance being less than desired performance
information and desicon making
- non programmed decisions
- programmed decisions
- crisis decision making
- decision making
- certain environments
- risk environments
- uncertain environments
problem solving style s
- problem avoiders
- problem solvers
- problem seekers
systematic versus intuitive thing
- rational vs flexible
- good for problem solving
steps in decision making process
- identify and define problem
- generate and evaluate possible solutions
- choose a preferred course of action and conduct “ethics double check”
- implement the decision
- evaluate the results
types of heuristic simplifying decision making
- availability heuristic
- representative heuristic
anchoring and adjustment eristic
how to avoid escalation trap
- set advanced limits and stick to them
- make your own decisions
- carefully determine why you are counting a course of action
- remind yourself of the costs
- watch for escalation tendencies
advantages of a group decision
- greater amounts of info knowledge
- more action alternatives
- increased understanding and acceptance of outcome
- increased commitment to implement final plans
disadvantages of group decision
- pressure to conform
- minority domination may occur
- decion making takes longer
key concepts of challenges of globalization
global economy , international management, global manger
eu, nafta, umsca
European union, north American trade agreement, United States Mexico Canada agreement
reasons for engaging in international business
profits, customers, supplies capital labour
market entry strategies
involves the sale of goods and services to foreign markets but do not require expensive investments
types of market entry strategies
- global sourcing\
- exporting
- importing
- listing agreements
- franchising
direct investment strategies
- require major capital commitments but create rights of ownership and control over foreign operations
types of direct investment strategies
joint ventures
foreign subsidiaries
criteria for choosing joint venture partner
- familiar with your business
- strong local workforce
- future expansion possibilites
- good profit potential
complications in the global business environment
- complex dynamic competitive
- different environment
- wto trade and tariffs
multinational corporations
mnc
business with extensive international operations in more then one foreign country
benefits of mnc
- shared growth opportunities
- shared income oppurtuinites
- shared learning opportunities
- shared development oppurtuintes
complaints about mnc by host country
- excessive profits
- domination of local economy
- interference with local government
mnc complaints about host country
- profit libations
- overpirced resources
- restrictions
ethical issues for mnc
corruption sweatshops child labour sustianbilty
culture
shared set of beliefs values and patterns of behaviour to a group of people
culture shock
a confusion and discomfort a person experiences in a unfamiliar culture
ethonocentric
- tendency to consider ones own culture as the best
stages of adjusting to a new culture
- confusion
- small victories
- the honeymoon
- irration
- reality
popular dimensions of culture
language
- low contrast cultures and high contrast cultures
interpersonal space
time orientation
- monochromic vs polychromic cultures
religion
contracts and agreements
values and national cultures
- power distance
- uncertainty avoidance
-individualism vs collectivism - masculinity vs femininity
- time orientation
understanding culural differences
- universalism versus paticulaism
- individualism vs collectivism
- natural versus affective
- achievements versus perception
attitudes toward time - sequential and synchronic views
attunes towards environment
transferable management practices
- comparative management
- global mangers
- planning and controlling
- organizing and leading
global organizational learning
- ethnocentric attitudes
- polycentic attunes
geocentric attidutses
scientific management approach
fredrick Taylor
- develop rules of motion, standardized work implement, and proper working conditions
- careful selection of workers with proper abilities
- carefully trains workers
scientific management (the glibeirth)
- eliminating wanted motion
administrative principles (Henri fayol)
rules of management
(focccp)
- forecasting organization, command coordination control and planning
key principles- solar chain, unity of command, unity of direction
admisntrative principles (Mary Parker Follett)
- groups and human coopuertaion
- forward looking management insights
beurucreatic organization
max weber
bureaucracy
- ideal intentional rational and efficient form of organization
- based on principles of logic order and legitimate authority
charchterstics of bureaucratic organization
- clear division of labor
- clear hierarchy of authority
- formal rules and procedures
- impersonality
disadvantages of beurcracy
- paper work or red tape
- slowness in handling problems
human resource approaches
Hawthorne astudies
- mallows theory of human needs
-mcgregors theory x and theory y
argyris theory of adult personality
hawthorn studies
- studies how economic incentives and physical conditions affect worker output
mallows hierarchy of needs
to be fulfilled or free you must have each of the needs
- physiological safety, social ,esteem , self actualization
megrecors theory. x and y
theory x workers
- dislikes work
- lacks ambition
- irresponsible
- prefer to be led
theory y workers
- willing to work
- capable of self control
- accepts respobsility
- capable of self direction
argryis theory of adult personility
classical management principles and practices inhibit worker maturation and are inconsistent with he mature adult personality
- increasing task responsibility
- increasing task variety
- using participative decion making
management sciences foundations
- application of mathematical techniques ro management
- mathematical forecasting, inventory modelling, linear programming, queuing theory, network models, simulations
quantitate analysis today
staf specialsts help mangers apply techniques
- software and hardware developments have expanded the horizon
system thinking
- system
- substyem
- open systems
contingency thinking
- tries to match managerial responses with problems and oppurtuintes unique to different situations
- no best way to mange
quality performance excellence
- a bias towards action
- closeness to customer
- autonomy and entrepreneurship
- productivity through people
planning
- the process of setting objectives and determine how to best accomplish them
objectiveness
- identify the specific results or desires outcomes that one attend achieves
plan
- a statement of action steps to be taken in order to accomplish the objectives
steps in planning process
- define your objectives
- determine where you stand vis a cis objectives
- develop premises regarding future conditions
- analyze and choose among action alternatives
- implement the plan and evaluate results
benefits of planning
- improves focus and flexibility
improves action orientation - improves coronations
-imporves time management
-improves control
types of plans
short term plans = 1 year or less
intermediate plans = 1-2 years
long term plans= 3 or more years
strategic plans
broad, comprehensive and long term action directions
operational plans
- defines what needs to be done in speck areas to implement strategic plans
- production plans
- finial plans
- facilites plans
- marketing plans
- human resource plans
standing polices
- polices and procedures that are deigned for elated use
policy
broad guidelines for making decisions and taking action ins pacific circumstances
rules or procedures
- plans that describe exactly what actions are to be taken in specific situations
single use plans
- only used once to meet needs and objectives
budgets
- single use plans that commit resources to activities projects
- fixed flexible or zero based budgets
projects
- one time activities that have clear beginnings and ends
forecasting
- making assumptions about what will happen in the future
contingency planning
- identifying alternative source of action
scenario planning
a long term version of contingency planning
benchmarking
- use of external comparisons to better evaluate current performance and identify possible action for the future
staff planners
- coordinating the planning function for the total organization
participation and involvement
- requires that the planning process include people who will be affected by the plans and or will help implement them
