Management Flashcards
Reward power
Someone’s ability to reward another person
Coercive power
Someone’s ability to punish another
Referent power
One’s desire to identify with/imitate another
Expert power
based on the belief that someone has some expertise or special knowledge that others do not
legitimate power
power derived from being in a position of authority within the organisation
negative power
the ability to disrupt operations e.g. by industrial action
What is authority?
The right to exercise power
Flexibility/outlook of human relations culture
Flexible, inward-looking
Flexibility/outlook of open systems culture
Flexible, outward-looking
Flexibility/outlook of rational goal culture
Controlled, outward-looking
Flexibility/outlook of internal process culture
Controlled, inward-looking
What are consumer markets?
Products/services bought for the use of individuals and their families
What are industrial markets?
Products/services bought for the use of companies
What does the 4Ps or 7Ps model outline?
The marketing mix
What are the 7Ps?
Product, Promotion, Place, Price
People, Processes, Physical evidence
What are the four Cs for price?
Cost, Customers, Competitors, Corporate objectives
What should the three characteristics of market segmentation be?
Substantial
Accessible
Measurable
What are the four Vs of operations?
Volume, Variety, Variation in demand, Visibility
What is pure research?
Research intended to gain new scientific or technical understanding with no commercial viewpoint in mind
What is applied research?
Research aimed at achieving an obvious commercial viewpoint
What is development?
Takes existing scientific or technical knowledge and uses it to produce new products intended for commercial production
What is procurement?
The acquisition of goods and/or services
What are the five rights of procurement?
Right: Quality, Quantity, Price, Place, Time
What are the four Cs of effectiveness of HRM?
Commitment, Competence, Congruence, Cost-effectiveness
What is forming?
Initially a collection of individuals
What is storming?
Members compete for group roles
What is norming?
Group norms emerge
What is performing?
Operating to full potential
Who coordinates the group?
Leader
Who promotes activity in the group?
The shaper
Who is thoughtful and thought provoking in the group?
The plant
Who criticises ideas in the group?
The monitor-evaluator
Who adds to others’ ideas in the group?
The resource-investigator
Who administrates and schedules in the group?
The company worker
Who diffuses potential conflicts within the group?
The team worker
Who is the progress chaser in the group?
The finisher
What is a line manager?
Direct authority over subordinates
What is a staff manager?
Authority in advisory capacity
What is a functional manager?
Line/staff hybrid - authority over activities in another department
What is a project manager?
Temporary team manager
What are SMART objectives?
Specific Measurable Achievable Relevant Time-constrained
