Test # 3
Terms in this set (91)
What are the basic functions of management?
Planning, organizing, leading, and controlling
What is planning?
Determining organizational goals and action plans for how to achieve goals.
What is organizing?
Determining a structure for both individual jobs and the overall organization.
What is leading?
Directing and motivating people to achieve organizational goals.
What is controlling?
Checking performance and making adjustments as needed.
What are the levels of management?
Top, middle, and first-line management
What is top management?
Managers who set the overall direction of the firm, articulating a vision, establishing priorities, and allocating time, money, and other resources.
What is middle management?
Managers who supervise lower-level managers and report to a higher-level manager.
What is first-line management?
Managers who directly supervise nonmanagement employees.
What are the management skills need?
Technical, human, and conceptual skills
What are technical skills?
Expertise in specific functional area or department
What are human skills?
The ability to work effectively with and through other people in a range of different relationships.
What are conceptual skills?
The ability to grasp a big picture view of the overall organization.
What is Marlow's hierarchy of needs theory?
A motivation theory that suggests that human needs fall into a hierarchy and that as each need is met, people become motivated to meet the next highest need in the pyramid.
What is Theory X and Theory Y?
A motivation theory that suggest that management attitudes toward workers fall into opposing categories based on management assumptions about worker capabilities and values.
What is the expectancy theory?
A motivation theory that concerns the relationship among individual effort, performance, and reward.
What is the equity theory?
A motivation theory that proposes that perceptions of fairness directly affect worker motivation.
What is strategic planning?
High level, long term planning that establishes a vision for the company, defines long term objectives and priorities, determines broad action steps, and allocates resources.
What is tactical planning?
More specific, shorter term planning that applies strategic plans to specific functional areas.
What is operational planning?
Very specific, short term planning that applies tactical plans to daily, weekly, and monthly operations.
What is contingency planning?
Planning for unexpected events, usually involving a range of scenarios and assumptions that differ from the assumptions behind the core plans.
What is SWOT analysis?
A strategic planning tool that helps management evaluate an organization in terms of internal strengths and weakness, and external opportunities and threats.
What is the degree of centralization?
The extent to which decision making power is held by a small number of people at the top of an organization.
What is span of control?
Refers to the number of people a manager supervises.
What is departmentalization?
The division of workers into logical groups
What is matrix organizations?
Organizations with a flexible structure that brings together specialists from different areas of the company to work on individual projects on a temporary basis.
What are the three leadership styles?
Autocratic, democratic, and free-rein leaders
What are autocratic leaders?
Leaders who hoard decision making power for themselves and typically issue orders without consulting their followers.
What are democratic leaders?
Leaders who share power with their followers. While they still make decisions, they typically incorporate input from their followers.
What are free-rein leaders?
Leaders who set objectives for their followers but give them freedom to choose how they will accomplish those goals.
What is human resource management?
The management function focused on maximizing the effectiveness of the workforce by recruiting world class talent, promoting career development, and determining workforce strategies to boost organizational effectiveness.
What are the challenges of human resource management?
Layoffs and outsourcing, wage gap, older workers, younger workers, women workers, work life balance, and lawsuits.
What is job analysis?
The examination of specific tasks that are assigned to each position, independent of who might be holding the job at any specific time.
What is job description?
An explanation of the responsibilities for a specific position.
What is job specifications?
The specific qualifications necessary to hold a particular position.
What is internal recruitment?
The process of seeking employees who are currently within the firm to fill open positions.
What is external recruitment?
The process of seeking new employees from outside the firm.
What are some pros to internal recruitment?
Boosts employee morale by reinforcing the value of experience within the firm, reduces risk since current employees haven a proven track record, and lowers costs of both recruitment and training.
What are some cons to internal recruitment?
The firm is so small, or no one has the right set of skills to fill the needs. The firm needs the fresh thinking that can only come from the outside.
What are some pros to external recruitment?
Employees who come through referrals have an excellent chance at success, referral programs represent a bargain for employment.
What are the steps in hiring employees?
Applications, interviews, testing, background checks, job offers, and contingent workers.
What are contingent workers?
Employees who do not expect regular, full time jobs, including temporary full time workers, independent contractors, and temporary agency.
What is orientation?
The first step in the training and development process, designed to introduce employees to the company culture and provide key administrative info.
What is on the job training?
A training approach that requires employees to simply begin their jobs sometimes guided by more experienced employees and learn as they go.
What is performance appraisal?
A formal feedback process that requires managers to give their subordinates feedback on a one to one basis, typically by comparing actual results to expected results.
What is compensation?
The combination of pay and benefits that employees receive in exchange for their work.
What are the factors considered in compensation decisions?
Competition, contribution, ability to pay, cost of living, and legislation
What are wages?
The pay that employees receive in exchange for the number of hours or days that they work.
What are salaries?
The pay that employees receive over a fixed period.
What are benefits?
Noncash compensation, including programs like vacation, childcare, and health insurance.
What are cafeteria-style benefits?
An approach to employee benefits that gives all employees a set dollar amount on company benefits, allocated however they wish within broad limitations.
What is flextime?
A scheduling option that allows workers to choose when they start and finish their workdays, as long as they complete that required number of hours.
What is affirmative action?
Policies meant to increase employment opportunities for minority groups, especially defined by race, ethnicity, or gender.
What is sexual harassment?
Workplace discrimination against a person based on his or her gender.
What is hardware?
The physical tools and equipment used to collect, input, store, organize, and process data and to distribute info.
What is software?
Programs that provide instructions to a computer so that it can perform a desired task.
What is system software?
Software that performs that critical functions necessary to operate the computer at the most basic level.
What is applications software?
Software that helps a user perform a desired task.
What is the internet?
The world's largest computer network, essentially a network of computer networks all operating under a common set of rules that allow them to communicate with each other.
What is the intranet?
A private network that has the look and feel of the internet and is navigated using a browser, but which limits access to single firm's employees.
What is the extranet?
An intranet that allows limited access to a selected group of stakeholders, such as suppliers or customers.
What is cloud computing?
The use of Internet based storage capacity, processing power, and computer applications to supplement or replace internally owned info technology resources.
What is database?
A file consisting or related data organized according to a logical system and stored on a hard drive or some other computer accessible media.
What is data warehouse?
A large, organization wide database that stores data in a centralized location.
What is the decision support system?
A system that gives managers access to large amounts of data and the processing power to convert these data into high quality info, thus improving the decision making process.
What is data?
Raw, unprocessed facts and figures.
What is information?
Data that have been processed in a way that make them meaningful to their user.
What is data mining?
The use of sophisticated statistical and mathematical techniques to analyze vast amounts of data to discover hidden patterns and relationships.
What is spam?
Unsolicited email advertisements usually sent to very large numbers of recipients, many of whom have no interest in the message.
What is phishing?
A scam in which official looking emails are sent to individuals in an attempt to give them to divulge private info.
What is intellectual property?
Property that is the result of creative or intellectual effort.
What are goods?
Tangible goods that you can see and touch.
What are services?
Intangible goods. Activities that yield benefits but don't directly result in a physical product.
What is operations management?
Managing all of the activities involved in creating value by producing goods and services and distributing them to customers.
What is efficiency?
Producing output or achieving a goal at the lowest cost.
What is effectiveness?
Using resources to create value by providing customers with goods and services that offer a better relationship between price and perceived benefits.
What is the critical path method?
A project management tool that illustrates the relationships among all the activities involved in completing a project and identifies the sequence of activities likely to take the longest to complete.
What are immediate predecessors?
Activities in a project that must be completed before some other specified activity can begin.
What is critical path?
The sequence of activities in a project that is expected to take the longest to complete.
What is value chain?
The network of relationships that channels the flow of inputs, information, and financial resources through all of the processes directly involved in producing goods and services and distributing them to customers.
What is vertical integration?
performance of processes internally that were previously performed by other organizations in a supply chain.
What is outsourcing?
Arranging for other organizations to perform supply chain functions that were previously performed internally.
What is enterprise resource planning?
Software based approach to integrate an organization's information flows.
What is servicescape?
The environment in which a customer and service provider interact.
What are the factors that affect servicescape?
Ambience, functionality, and signs, symbols, and artifacts.
What is ambience?
Factors such as décor, background, music, lightening, noise levels, and even scents.
What is automation?
Replacing human operation and control of machinery and equipment with some form of programmed control.
What is a robot?
A reprogrammable machine that is capable of manipulating materials, tools, parts, and specialized devices in order to perform a variety of tasks.
What are the advantages of a robot?
They perform jobs most human workers cant, They don't get tired so they can work long hours, and they are flexible.
What is total quality management?
An approach to quality improvement that calls for everyone within an organization to take responsibility for improving quality and emphasizes the need for a long term commitment to continuous improvement.
What is just in time production?
A production system that emphasizes the production of goods to meet actual current demand, thus minimizing the need to hold inventories of finished goods and work in process at each stage of the supply chain.