MGT 301 Exam 1 (chap 1-5) Flashcards
Fredrick Winslow Taylor
-American, Used scientific method to increase productivity/efficiency.
-Created Scientific Management=investment in tools(shovels). Strengths= increases productivity
Weakness= greater demand on MGR for coordination, have to fire people(microecon)-people hated it.
-Stopped being used in 1930, but was renamed “management science” after Pearl Harbor
Frank Gilbreth
- Used scientific management & tripled productivity in masonry (building)
- Expert in time and motion studies
Hawthorne effect
Employees work harder if they receive added attention
Human relations movement
Proposed that better human relations could increase worker productivity- Abraham Maslow and Douglas McGregor
Organization
Group of people who work together to achieve some specific purpose
Management
Pursuit of organizational goals effectively and efficiently, by integrating the work of people through planning organizing, leading, and controlling
Efficiency-the means
Use resources wisely and cost effectively
Effectiveness-the ends
To achieve results, make right decisions, carry them through, meet goals.
Management process- 4 management functions
Planning- set goals
Organizing-arrange task to accomplish goal
Leading-motivate, direct to achieve goal
Controlling- monitors performance, take action as needed
E-commerce
Buying and selling of goods or services over computer
Database
Computerized collections of interrelated files
Cloud computing
Storing of software and data “in the cloud”
Project management software
Programs for planning and scheduling the people costs and resources to complete project on time
Knowledge management
Implementing of systems and practices to increase the sharing of knowledge and information throughout an organization
Collaborative computing
Using state of the art computer software to help people work better together
Sustainability
Economic development that meets the needs of the present without compromising future generations to meet their needs.
_______ managers make long-term decisions about overall direction of org and establish the objective policies and strategies of it
Top managers
____ managers implement the policies and plans
Middle managers
____ managers make short term operating decisions, daily tasks
First line managers
Functional manager
Responsible for one organizational activity
General managers
Responsible for several organizational activities
Technical skills
Job specific knowledge
Conceptual skills
Ability to think analytically
Soft skills
Ability to motivate, inspire trust, etc
Interpersonal role
Managers work with people inside and outside their work units
Informational role
Mangers receive and communicate information
Decisional roles
Use info to make decisions to solve problems
Historical perspective includes three viewpoints
Classical, behavioral, and quantitative
Contemporary perspective includes three viewpoints
Systems contingency and quality management pg 44
Scientific management
Scientific study of work methods to improve productivity of individual workers pg 45
Henri Fayol
Thought MGRs should do five things
French, socialism
- Planning and forecasting
- Organizing
- Coordinate
- Control
- Command
Division of work (Henri Fayol-14 principals)
Work should be divided among people to ensure that effort and attention are focused on special positions of the task.
Authority- (Henri Fayol-14 principals)
Right to give orders and the power to exact obedience
Discipline (Henri Fayol-14 principals)
Penalties should be applied judicially to encourage common effort of workers.
Unity of command (Henri Fayol-14 principals)
Workers should receive orders from only one manager
Unity of direction (Henri Fayol-14 principals)
Entire Org should be moving towards common objective.
Subordination of individual interests to the given general interests (Henri Fayol-14 principals)
Interest of one person should not take priority over organizational interests.
Remuneration (Henri Fayol-14 principals)
Many variables to consider when determining workers rate of pay (cost of living)
Centralization (Henri Fayol-14 principals)
Lowering the importance of the subordinate role. Decentralization is increasing the importance.
Scalar chain (Henri Fayol-14 principals)
Managers in hierarchies have certain amount of authority
Order (Henri Fayol-14 principals)
All material and people should be related to a specific kind of work should be treated as equally as possible
Equity (Henri Fayol-14 principals)
All employees should be treated as equally as possible
Stability of tenure of personal (Henri Fayol-14 principals)
Job security
Initiative (Henri Fayol-14 principals)
Management should encourage worker initiative
Espirit de corps (Henri Fayol-14 principals)
Management should encourage harmony and good feelings, team spirit
Max Weber
German, 1864-1920. Sociologist (study groups of people)
- studied German government
Studied Roman Catholic Church
Quantitative management
Statistics and computer simulations. Two branches: quantitative management(operations management) and management science
Management science
Also known as “operations research”. Uses mathematics to aid in problem solving
Operations management
Focuses on managing the production and delivery of orgs products or services more effectively
System
Set of interrelated parts that operate together to achieve common purpose
Systems viewpoint
Regards organization as a system of interrelated parts
Subsystems
Parts making up the whole system
4 parts of a system
Inputs- people, money, materials to make goods/services
Transformational process- internal processes/technology to covert input to output
Outputs-products produced by org
Feedback- info of reaction to outputs that affect inputs
Synergy
Idea that two or more forces combined create an effect that is greater than the sum of individual effects
Contingency viewpoint
Managers approach should vary based on the individual and environment situation
Internal stakeholders
Consists of employees owners and board of directors
General environment/macroenvironment includes six forces (pg 82)
Economic, technical, sociocultural, demographic, political-legal, and international.
_____ governance, the system of governing a company so that the interests of corporate owners and other stakeholders are protected.
Corporate governance
______, the trend of world economy toward becoming a more interdependent system.
Globalization
______ ______ refers to the “shrinking” of time and space as air travel and the electronic media have made it easier for people around the globe to communicate with one another.
Global village
_______ _______ tendency of economies of the world to interact together as one market instead of many small national markets.
Global economy
Multinational corporation
A business firm with operations in several countries (wal mart , chevron)
Multinational organization
Nonprofit organization with operations in several countries (Red Cross, world health organization)
Ethnocentric managers believe…
That their native country is superior to all others.
Parochialism(-ethnocentric)believe…
Narrow view, see things solely on through their own perspective
Polycentric managers
Take the view of native managers in foreign offices as best, and home office should leave them alone
Geocentric managers
Accept that there are differences and similarities between home and foreign personal and practices, and use whatever techniques are most effective
______ is a trade barrier in the form of a customs duty, or tax, levied mainly on imports
Tariffs
Dumping
Foreign companies exporting products abroad at lower price than the home market, in order to drive down the price of domestic products.
Embargo
A complete ban or prohibition of trade of one country with another
World trade organization (WTO)
Designed to monitor and enforce trade agreements
World bank
Provide low interest loans to developing nations
International Monetary Fund (IMF)
Designed to assist in smoothing the flow of money between nation
Trading bloc
Also known as economic community, group of nations within a geographical region that have agreed to remove trade barriers with one another
_______Trade agreement among 12 pacific rim countries
Trans-pacific partnership, US, Australia, china, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam
Charismatic organization (types of organizations)
Has Charismatic leaders, that are friendly outgoing good communicator. Ex. Obama, Martin Luther king jr.
- strength:org is committed to leader=high performance
- weakness: only as effective as leader, or leader leaves the organization falls apart
Traditional organization (types of organizations)
Strength: stability , traditions they maintain
Weakness: slow to charge (to slow)
Rational legal organization (types of organizations)
Strength: effective achieving your goals
Ratio= outcomes & efficient(maximize)/inputs(minimize)
North American free trade agreement (NAFTA)
Trading block consisting of the us, Canada, and Mexico.
Low-context culture
Which is shared meanings are primarily derived from written and spoken words. Ex, Britain, North American, Germany.
High-context culture
People rely heavily on situational cues for meaning when communicating with others. Ex, china, Korea, Japan.
Monochromatic time
Preference for doing one thing at a time
Polychronic time
Preference for doing more than one thing at a time
Expropriation
A governments seizure of a domestic or foreign companies assets
Business plan
Document that outlines a proposed firms goals, the strategy for achieving them, and standards for measuring success.
Business model
Outlines the need the firm will fill, the operations of the business, its components and functions, as well as expected revenues and expenses
Strategy/strategic plan
Long term goals and direction for an organization
_______ ________ is process that involves managers from all parts of organization in the formulation and implementation of strategies and strategic goals.
Strategic management
Mission
Organizations purpose or reason for being
Mission statement
Explains the organizations purpose
Vision statement
What the organization should become (long term goals), where it wants to go.
Values statement
/core values
Expresses what the company stands for , the values its employees embody, and what it’s products contribute to the world
______ planning determines what organization long term goals should be for next 1-5 years with the resources they expect to have available
Strategic
_______ planning determines what contributions their departments or similar work units can make with their given resources during the next 6-24 months
Tactical
______ planning determines how to accomplish specific tasks with available resources within 1-52 weeks
Operational
Standing plans
Plans developed for activities that occur repeatedly over time
Policy
Standing plan that outlines the general response to a designated problem or situation
A procedure
Is standing plan that outlines response to particular problems or circumstances
A rule
Standing plan that designates specific required actions
Single-use plans
Plans developed for activities that not likely to be repeated in future
Program
Single use plan encompassing a range of projects or activities
Project
Single use plan of less scope and complexity than a program
SMART goal stands for?
Specific, measurable, attainable, results-oriented, and has Target dates. Pg 158
Management by objectives(MBO)
Four step process pg 160
Cascading goals
Process of ensuring strategic goals set at top level cascade downward with more specific short term goals at lower levels within organization
Classical viewpoint of management emphasizes ways to________.
Increase efficiency
In terms of systems viewpoint, profits and losses are known as ______.
Output
Fredrick Taylor- more efficient workers should be paid more, this system is called the ______ system.
Differential rate
Two management perspectives that consider an organization to be a closed system.
Classical management viewpoint
Management science perspective
Total quality management
Every person is competed to maintaining high standards of work in every aspect of company operations.
Task environment includes
Employee organizations, government regulators, local community, strategic allies.
Sarbanes-oxley reform act monitors what?
Financial records of public institutions
