Unit 1 Test Flashcards
what is ethics?
The moral principles that control a person’s behavior and set standards of “good” and “bad” as opposed to “right” and “wrong.”
What is an Organization?
Organizations are open systems that are composed of interrelated parts that function together to achieve a common purpose. They interact with their environments, transform resource inputs into product outputs (goods and services), and environmental feedback tells an organization how well it is meeting the needs of customers and society.
What is a broad purpose that all organizations share?
They provide goods and services that are useful.
What are the two types of organizations?
Profit and Non-Profit Organizations
What is an open system?
An open business is an organization that makes resources into goods and services, interacts with their environment, and is made up of interconnected parts that work together to achieve a common purpose.
What is the goal of a business?
To earn a profit.
Where do companies spend their profits?
Companies’ profit can be spent on Research and Development, invested in machines or equipment, invest in the community, or saved for personal spending.
What is globalization?
Globalization is changing the workplace because it allows companies to become more well known to consumers, it allows companies to have more consumers, and it allows companies to be able to increase their competition with other similar companies.
What is Strategic Change? (Restructuring topics)
Includes changes to the business’s policies, structure or processes.
What is People-Centric Change? (Restructuring topics)
Includes instituting new parental leave policies or bringing in new hires.
What is Structural Change? (Restructuring topics)
Includes shifts in management hierarchy, teams, responsibilities of different departments, chain of command, job structure.
What is Technological Change? (Restructuring topics)
Involves introducing new software or system to improve business processes.
What is Unplanned Change? (Restructuring topics)
A necessary action following unexpected events.
What is Remedial Change? (Restructuring topics)
Occurs when a problem is identified, a solution needs to be implemented.
What is a managers role in the organization?
Managers must ensure that people are treated as strategic assets. A manager is a person in an organization who supports and is responsible for the work of others.