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Principles of Organization & Management Test 2

STUDY
PLAY
Strategic Planning
Determining how to pursue long-term goals with available resources
Intermediate Planning
Determining what contributions subunits can make with allocated resources
Operational Planning
Determining how to accomplish specific tasks with available resources
Planning Horizon
Time that elapses between planning & execution
Objective
Commitment to achieve a measurable result within a specified period. Goals & objectives should be real & measurable
Targets
Objectives provide managers with these
Measuring Sticks
Concrete objectives that enable managers to weigh performance objectively on the basis of accomplishment, rather than subjectively on the basis of personality or prejudice
Commitment
the process of getting an employee to agree to pursue a given objective gives that individual a personal stake in the success of the enterprise
Motivation
Good objectives represent a challenge; they have a motivational aspect. People usually feel good about themselves & what they do when they successfully achieve a challenging objective
Busyness Trap
Managers should not confuse being busy with being effective & efficient. Results are what really count.
Flow Charts
Used by computer programmers for identifying task components & by total quality management teams for work simplification
Gantt Charts
Convenient scheduling tool for managers that uses a graphical scheduling technique
PERT
Program evaluation & review technique. It is a graphical sequencing & scheduling tool for complex projects
Cost Leadership Strategy
Managers have a concern for keeping costs & prices lower than those of competitors
Differentiation Strategy
A company's product or service must be considered unique by most of the customers in its industry in order to succeed
Cost Focus Strategy
Organizations attempt to gain a competitive edge in a narrow (or regional) market by exerting strict cost control
Focused Differentiation Strategy
Involves achieving a competitive edge by delivering a superior product/service to a limited audience
Situational Analysis
Finding the organization's niche by performing a SWOT analysis. An organization's key capabilities & appropriate niche in the marketplace become apparent when the organization's strengths & weaknesses are cross-referenced with environmental opportunities & threats
Multiple Criteria
A decision must satisfy a number of often-conflicting ________ representing the interests of different groups, so decision makers must balance the needs of all stakeholders
Risk & Uncertainty
Along with every decision alternative comes the chance that it will fail in some way. Poor choices can prove costly, yet the right decision can open up whole new worlds of opportunity.
Interdisciplinary Input
Decision complexity is increased when technical specialists are consulted before making a decision
Pooled Decision-Making
Rarely is a single manager totally responsible for the entire decision process. After this input, complex decisions wind their way through the organization, with individuals & groups interpreting, modifying, & sometimes resisting.
Unintended Consequences
Results of purposeful actions are often difficult to predict. Hurried &/or narrowly focused decision makers typically give little or no consideration to the full range of likely consequences of their decisions.
Condition of Risk
Decision made on basis of incomplete but reliable information. Managers can use it to calculate the probability that a given event will occur & then to select a decision alternative with favorable odds.
Framing Error
How information is presented influences one's interpretation of it
Escalation of Commitment
People get locked into losing courses of action to avoid the embarrassment of quitting or admitting error
Overconfidence
Can expose managers to unreasonable risks. Researchers have found a positive relationship between this & task difficulty.
Programmed Decisions
Repetitive & routine decisions
Nonprogrammed Decisions
Decisions made in complex & nonroutine situations
Coordination of Effort
Individuals who join together & coordinate their mental/physical efforts can accomplish great things
Common Goal or Purpose
Gives the organization focus & its members a rallying point
Division of Labor
By dividing complex tasks into specialized jobs, an organization can use its human resources efficiently
Hierarchy of Authority
If anything is to be accomplished through formal collective effort, someone should be given the authority to see that the intended goals are carried out effectively & efficiently
Human Resource Management
Involves the acquisition, evaluation, retention, & development of human resources
Equal Employment Opportunity
Law provides a broad umbrella of employment protection for certain categories of disadvantaged individuals, making it virtually impossible for hiring organizations to discriminate of the basis of race, color, sex, religion, national origin, disabilities, or military service
Affirmative Action Program
Making up for past discrimination by actively seeking & employing minorities
Managing Diversity
Movement promises to raise the discussion of equal employment opportunity & affirmative action to a higher plane
Structured Interview
Set of job-related questions with standardized answers
Performance Appraisal
Evaluating job performance as a basis for personnel decisions
Communication
Interpersonal transfer of information & understanding