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78 terms

mgmt 303

midterm 1
STUDY
PLAY
management
the process of working with people and resources to accoplish organizational goals
planning
the management function of systematically making decisions about the goals and activities that an individual a goup a work unit or the overall organization will persue
value
the monetary amount associated with how well a job task good or service meets users needs
organizing
the mgmt function of assembling and coordinating human, financial physical informational and other resources needed to achieve goals
leading
the mgmet function that involves the manager's efforts to stimulate high performance by employees
controlling
the mgmt function of monitoring performance and making needed changes
top-level managers
senior executives responsible for the overall management and effectiveness of the organization
middle-level managers
managers located in the middle layers of the organizational hierarchy reporting top level executives
frontline mangers
lower-level managers who supervise the operational activities of the organization
technical skill
the ability to perform a specialized task involving a particular method or process
conceptual and decision skills
skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members
interpersonal and communciation skills
people skills the ability to lead and motivate
social capital
goodwill stemming from your social relationships
open systems
orgnaizations that are affected by and that affect their environment
competitive environment
the immediate environment surrounding a firm includes suppliers customers, rivals
macroenviroment
the general environment includes governments economic conditions and other fundamental factors
switching costs
fied costs buyers face when they change suppliers
supply chain management
the managing of the network of facilities and people that obtain materials from outside the organization transform them and distribute them
intermediate consumer
a customer who purchases raw materials or wholesale products before selling them to a final customer
benchmarking
the process of comparing an organization's practices and technologies with those of other companies
strategic maneuvering
an organization's conscious efforts to change the boundaries of its task environment
domain selection
entering a new market of industry with an existing expertise
diversification
a firms investment in a different product business of geographic area
merger
one or more companies combining with another
acquisition
one firm buying another
divestiture
a firm selling one or more businesses
prospectors
companies that continually change the boundaries for their task environments by seeking new products and markets
defenders
companies that stay within a stable product domain as a strategic maneuver
independent strategies
strategies that an organization acting on its own uses to change some aspect of its current environment
cooperative strategies
strategies used by two or more organizations working together to manage the external environment
empowerment
the process of sharing power with employees and enhancing their confidence
smoothing
leveling normal fluctuations at the boundaries of the environment
flexible processes
methods for adapting the technical core to changes in the environment
organizational climate
the patterns of attitudes and behavior the shape people's experience of an organization
strategic goals
major targets or end results relating to the organization's long term survival
strategic planning
a set of procedures for making decisions about the organization's long term goals and strategies
tactical planning
a set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant
operational planning
the process of identifying the specific procedures and processes required at lower levels of the organization
core competence
a unique skill and or knowledge an organization possesses that gives it an edge over competitors
SWOT analysis
strengths weaknesses opportunities and threats
corporate strategy
the set of businesses markets or industries in which an organization competes and the distribution of resources among those entities
concentration
a strategy employed for an organization that operates a dingle business and competes in a single industry
vertical integration
the acquisition or developement of new business that produce parts or components of the organizations product
concentric diversification
a strategy used to add new businesses that produce related products or are involved in related markets and activities
conglomerate diversification
a strategy used to add new budinesses that produce unrelated products of are involved in unrelated markets and activities
universialism
the ethical system stating that all people should uphold certain values that society needs to function
cauz principles
ethical principles established by international executives based on Caux Switzerland in collaboration with business leaders from japan Europe and the United states
egoism
an ethical system defining acceptable behavior as that which maximizes consequences for the individual
utilitarianism
an ethical system stating that the greatest good for the greatest number should be the overriding concern of decision makers
relativism
philosophy that bases ethical behavior on the opinions and behaviors of relevant other people
virtue ethics
classification of people based on their level of moral judgement
sarbanes oxley act
paseed to establish strict accounting an reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence
compliance based ethics programs
comapny mechanisms typically designed by corporate council to prevent legal violations
integrity based ethics programs
company mechanisms designed to instill in people a personal responsibility for ethical behavior
outsourcing
contractin with an outside provider to produce one or more of an organization's goods or services
offshoring
moving work to other countries
multinational model
an organizational model that consists of the subsidaries in each country in which a company does business and provides a great deal of discression
global model
centralized decisoin among everyone
expatriates
parent company nationals who are sent to work at a foreign subsidary
host-country nationals
natives of the country where an overseas subsidary is located
skunkworks
a project team designated to produce a new innovative product
bootlegging
informal work on projects other than those officially assigned of employees' own choosing nad initiative
differentiation
an aspect of the organization's internal environment created by job specializaiton and the division of labor
integration
the degree to which differentiated work units work together and coordinate their efforts
division of labor
the assignment of different tasks to different people or groups
specialization
a process in which different individuals and units perform different tasks
centralized organization
an organization in which high-level executives make most decisions and pass them down to lower levels for implementation
matrix organization
an organization composed of dual reporting relationships where some employees report to two superiors
network organization
a collection of independant mostly single function firms that collaborate on a good or service
dynamic network
temporart arrangements among partners that can be assembled and reassembled to adapt to the environment
standardization
establishing common routines and procedures that apply uniformly to everyone
formalization
the presence of rules and regulations governing how ppl in the organization interact
decentralized organization
many decisions are delegated to the lower levels
organic structure
an organizational form that emphasizes flexibility
mechanistic organisation
a form of organization that seeks to maxmize internal efficiency
strategic alliance
a formal relationship created among independent organzations with the purpose of joint persuit of mutual goals
learning organization
an organization skilled at createding knowledge and modifiying its behavior to reflect insights
high involvement organization
a type of organization where top management ensures that there is a consensus about the direction in which the business is heading