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Mgmt Exam 3 > MGMT EXAM 3 > Flashcards

MGMT EXAM 3 Flashcards

1
Q

Analytics

A

Systematic Gathering and Processing of Date

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2
Q

Decision Making Model Step 1

A

IDENTIFY A PROBLEM: problem is an obstacle that makes it difficult to achieve a desired goal or process

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3
Q

Decision Making Model Step 2

A

IDENTIFY THE DECISION CRITERIA: factors that are important to resolving the problem

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4
Q

Decision Making Model Step 3

A

ALLOCATE WEIGHTS TO THE CRITERIA: if the relevant criteria are not equally important, the decision maker must weight the items in order to give them the correct priority in the decision

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5
Q

Decision Making Model Step 4

A

DEVELOP ALTERNATIVES: list viable alternatives that could solve the problem

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6
Q

Decision Making Model Step 5

A

ANALYZE ALTERNATIVES: using criteria established in step 2

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7
Q

Decision Making Model Step 6

A

SELECT AN ALTERNATIVE: choose alternative that generated the highest total in step 5

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8
Q

Decision Making Model Step 7

A

IMPLEMENT THE ALTERNATIVE: put chosen alternative into action

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9
Q

Decision Making Model Step 8

A

EVALUATE DECISION EFFECTIVENESS: evaluate result or outcome of decision to see if the problem was resolved

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10
Q

Structured Problems

A

straightforward, familiar, and easily defined problems

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11
Q

Programmed Decisions

A

repetitive decisions that can be handled by a routine approach

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12
Q

Unstructured Problems

A

problems that are new or unusual and for which information is ambiguous or incomplete

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13
Q

Nonprogramed Decisions

A

unique and nonrecurring, and involve custom made solution

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14
Q

Rational Decision Making

A

choices that are logical and consistent and maximize value

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15
Q

Bounded Rationality

A

decision making that is rational, but limited (bounded) by an individuals ability to process info

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16
Q

Satisficing

A

accepting solutions that are satisfactory, sufficient, or good enough

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17
Q

Intuitive Decision Making

A

making decisions on the basis of experience, feelings, and accumulated judgement

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18
Q

Biases/ Heuristics

A

mental shortcuts

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19
Q

Common Decision Making Biases

A
  • overconfidence
  • immediate gratification
  • anchoring effect
  • selective perception
  • confirmation
  • framing
  • availability
  • representation
  • randomness
  • sunk costs
  • selfserving
  • hindsight
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20
Q

Motivation

A

process by which a persons efforts are energized, directed, and sustained toward attaining a goal

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21
Q

Hierarchy of Needs Theory

A

Maslow’s theory that innate human needs form a hierarchy

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22
Q

Maslow’s Lower Level Needs

A

Physiological Needs- a person’s need for food, drink, shelter, sexual satisfaction, and other physical needs
Safety Needs- Persons need for security and protection from physical and emotional harm

23
Q

McGregor’s Theory X

A

assumption that employees dislike work, are lazy, avoid responsibility, and must be coerced to performM

24
Q

McGregor’s Theory Y

A

assumption that employees are creative, enjoy work, seek responsibility, and can exercise self direction

25
Q

McClelland’s Three Needs Theory

A

motivation theory that stays three acquired needs- achievement, power and affiliation- are major motives in work

26
Q

Need For Achievement (McClelland) (nAch)

A

the drive to succeed and excel in relation to a set of standards

27
Q

Need For Power (McClelland) (nPow)

A

the need to make others behave in a way that they would not have behaved otherwise

28
Q

Need For Affiliation (McClelland) (nAff)

A

the desire for friendly and close interpersonal relationships

29
Q

Reinforcement Theory

A

behavior is a function of its consequences

30
Q

Equity Theory

A

an employee compares his or her job’s input- outcomes ratio with that of relevant others and then corrects any inequity

31
Q

Expectancy Theory

A

an individual tends to act in a certain way based on the expectation that the act will be followed by a given outcome and on the attractiveness of that outcome to the individual

32
Q

Control process

A

three step process of measuring actual performance, comparing actual performance against a standard, and taking managerial action to correct deviations or inadequate standards

33
Q

Control Process Step 1

A

MEASURING ACTUAL PERFORMANCE- how we measure, what we measure

34
Q

Control Process Step 2

A

COMPARING ACTUAL PERFORMANCE AGAINST THE STANDARD- the acceptable parameters of variance between actual performance and the standard

35
Q

Control Process Step 3

A

TAKING MANAGERIAL ACTION- correct actual performance

36
Q

Feedforward Control

A

Control that takes place before a work activity is done

37
Q

Concurrent Control

A

Control that takes place while a work activity is in progress

38
Q

Feedback Control

A

Control that takes place after a work activity is done

39
Q

Ratio Analysis

A

liquidity, leverage, activity, profitability

40
Q

Budget Analysis

A

quantitative analysis, deviations

41
Q

Balanced Scorecard/Benchmarking

A

a performance measurement tool that looks at more than just financial perspecitve

42
Q

Substitutes for Leadership

A

high levels of experience, education, training, professional orientation

43
Q

Leadership Neutralizers

A

indifference toward organizational rewards

44
Q

Ethical Leadership

A

puts public safety ahead of profits, holds culpable employees accountable, and creates a culture in which employees feel that they could and should do a better job

45
Q

Authentic Leadership

A

leaders who know who they are, know what they believe in, and act on those values and beliefs openly and candidly

46
Q

Charismatic/Visionary Leader

A

an enthusiastic, self confident leader whose personality and actions influence people to behave in certain ways

47
Q

Transactional Leader

A

leaders who lead primarily by using social exchanges

48
Q

Transformational Leader

A

leaders who stimulate and inspire followers to achieve extraordinary outcomes

49
Q

Hersey and Blanchard’s Situational Leadership Theory

A

focuses on followers’ readiness

50
Q

SLT Styles

A

Telling, selling, participating, delegating

51
Q

Behavioral Theories

A

leadership theories that identify behaviors that differentiate effective leaders from ineffective leaders

52
Q

Leadership Traits

A
  • research focused on identifying personal characteristics that differentiated leaders from non leaders was unsuccessful
53
Q

House path goal

A

a leader’s behavior is contingent to employee satisfaction, employee motivation and employee performance.

54
Q

Managerial Grid

A

country club, middle of the road, team, impoverished, authority compliance

Mgmt Exam 3 (1 decks)

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