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Intro to Business > Module 2 > Flashcards

Module 2 Flashcards

1
Q

Planning

A

establishing organizational goals and deciding how to accomplish them

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2
Q

organizing

A

grouping resources and activities in order to achieve a result in an efficient and effective manner

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3
Q

leading

A

influencing people to work towards a common goal

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4
Q

motivating

A

providing reasons so that people work in the best interests of an organization

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5
Q

strategic plan

A

defines what business the company is in or wants to be along with what kind of company it is or wants to be.

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6
Q

Tactical plans

A

smaller scale plans designed to implement a strategy, usually cover a one to three year period

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7
Q

Operational plans

A

made to implement tactical plans, usually covering a year or less

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8
Q

contingency plan

A

outlines alternatives that can be taken if other plans are ineffective or disrupted.

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9
Q

Goal

A

an end result that is expected to be achieved over a one to ten year period

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10
Q

Objective

A

a statement that details what is expected to be achieved over a short period of time

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11
Q

Conceptual skills

A

involve the ability to think in abstract terms and allows managers to see how everything works together within an organization

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12
Q

Analytical skills

A

the ability to identify problems, create reasonable alternatives and then select the best alternative

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13
Q

Interpersonal skills

A

the ability to deal effectively with other people

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14
Q

Technical skills

A

involve specific skills needed to accomplish a specialized task

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15
Q

Communication skills

A

involve the ability to write, speak and listen effectively

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16
Q

Autocratic leader

A

make decisions unilaterally with little concern of employee opinions

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17
Q

Participative leadership

A

when all members of a team are consulted before a decision is made, helping workers understand what goals are important while fostering a sense of commitment and ownership

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18
Q

Entrepreneurial leadership

A

When the manager seeks to inspire workers with a vision of what can be accomplished to benefit all stakeholders. This is personally dependent and generally enthusiastic, driven, goal oriented and charismatic.

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19
Q

four steps of the managerial decision-making process

A
  1. identify problem/opportunity
  2. generate alternative
  3. selecting an alternative
  4. implementing and evaluating solution
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20
Q

chain of command

A

the line of authority that extends from the highest levels of an organization to its lowest levels.

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21
Q

Job specialization

A

the separation of activities with an organization into distinct tasks and having to assign those tasks to different people

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22
Q

Job rotation

A

people are given different tasks and shift between tasks, instead of just sticking to one

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23
Q

Departmentalization

A

the process of grouping jobs into manageable units

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24
Q

Departmentalization types

A

By function, product, location, and customer

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25
Q

delegation

A

assigning part of a manager’s work and power to other workers

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26
Q

decentralized organization

A

attempts to spread authority widely across the lower levels

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27
Q

centralized organization

A

works to concentrate authority at the higher levels

28
Q

wide span of management

A

when a manager has many subordinates

29
Q

narrow span of management

A

manager only has a few subordinates

30
Q

flat organizational height

A

span of management is wide and fewer levels are needed

31
Q

tall organization

A

narrow management and needs more levels

32
Q

corporate culture

A

the inner rites, rituals, heroes and values of a firm

33
Q

human resource management

A

all the activities involved in acquiring, maintaining and developing an organization’s human resources

34
Q

job analysis

A

determining the nature of a position

35
Q

job description

A

lists the elements that makeup a position

36
Q

job specification

A

lists required job qualifications

37
Q

recruiting

A

attracting people to apply for positions

38
Q

selection

A

choosing an hiring most qualified applicant

39
Q

orientation

A

acquainting new employees with the firm

40
Q

Common means to obtain applicant info

A

applications, tests, interviews, references, assessment centers

41
Q

Four elements of effective employee reward system

A
  1. satisfy basic employee needs
  2. rewards are comparable to other firms
  3. distributed fairly
  4. recognize that people have different needs
42
Q

compensation

A

payment received for labor

43
Q

benefits

A

reward in addition to compensation given indirectly

44
Q

hourly wage

A

paid per amoung of hour of work

45
Q

salary

A

the specific amount paid per calendar period, regardless of hours worked

46
Q

commission

A

payment as a percentage of sales revenue

47
Q

performance appraisal

A

evaluation of an employee’s current and potential levels of performance

48
Q

motivation

A

the individual internal process that energizes, directs and sustains behavior

49
Q

scientific management

A

the application of scientific principles to the management of work and employees

50
Q

Hawthorne Studies

A

Objective was to determine the effects of work environment on employee performance

51
Q

Maslow Hierarchy of Needs

A
  1. self-actualization needs
  2. esteems needs
  3. social needs
  4. safety needs
  5. physiological needs
52
Q

Equity theory

A

theory of motivation based on the assumption that motivation depends on how much we want something and how likely we are to get it

53
Q

Equity theory

A

theory of motivation based on the premise that people are motivated to obtain and preserve equitable treatment for themselves

54
Q

expectancy theory

A

theory of motivation based on the assumption that motivation depends on how much we want something and how likely we are to get it

55
Q

goal-setting theory

A

suggests that employees are motivated to achieve goals that they and their managers establish together

56
Q

labor union

A

an organization of workers acting together to negotiate wages and working conditions with employers

57
Q

craft union

A

an organization of skilled workers in a single craft or trade

58
Q

American Federation of Labor

A

made up of many specific labor unions, an umbrella organization

59
Q

Congress of Industrial Organizations

A

Focused on unskilled and semi-skilled workers

60
Q

La Guardia Act

A

made it difficult to obtain court orders banning strikes, picketing and union membership drives

61
Q

National Labor Relations Act (Wagner)

A

collective barganing, certification v. decertification, and National Labor Relations Board

62
Q

Fair Labor Standards Act

A

set federal minimum wage and banned child labor

63
Q

Taft- Hartley Act

A

the balance between union and management authority

64
Q

collective bargaining

A

the process of negotiating a labor contract with an employer

65
Q

arbitration

A

step in the grievance procedure in which a neutral party hears the two sides of a dispute and renders binary decisions

66
Q

Union tactics

A

strikes, slowdowns, boycotts, pickets

67
Q

management tactics

A

lockouts, strikebreakers, injunctions

Intro to Business (1 decks)

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