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Management 1 > Midterm > Flashcards

Midterm Flashcards

1
Q

Business

A

Any activity that seeks to provide goods and services to others while operating
Key to success: adapt to changing market

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2
Q

Goods

A

Tangible products

Ex] computers, food, clothing, cars, and appliances

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3
Q

Services

A 
Intangible products (can't be held in your hand)
Ex] education, health care, insurancem recreation, and travel and tourism
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4
Q

Entrepreneur

A

A person who risks time and money to start and manage of business

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5
Q

Revenue

A

Total amount of money a business takes in during a given period by selling goods and services

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6
Q

Profit

A

Amount of money a business earns above and beyond what it spends for salaries and other expenses needed to operate

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7
Q

Loss

A

Occurs when a business expenses are more than its total revenue

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8
Q

Risk

A

Chance an entrepreneur takes of losing time and money on business that may not be profitable
With more profit there is more risk

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9
Q

Standard of Living

A

Refers to the amount of goods and services people can buy with the amount of money they have

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10
Q

Quality of Life

A

General well-being in a society in terms of its political freedom, natural environment, education, healthcare, safety, amount of leisure, and rewards to add to the satisfaction and joy the other goods and services provide

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11
Q

Stakeholders

A

All the people who stand to gain or lose by the policies and activities of a business and who’s concerns the business needs to address
Ex] customers, employees, stockholders, suppliers, dealers, retailers, bankers, people surrounding the community, the media, environmentalist, and elected government leaders

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12
Q

Outsourcing

A

Contracting with other companies (often in other countries) to do some or all the functions of the firm
Delegating overseas

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13
Q

Nonprofit Organization

A

An organization whose goals do not include making a personal profit for the owners or organizers

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14
Q

Factors of production

A

Resources used to create wealth

  1. Land
  2. Labor
  3. Capital
  4. Entrepreneurship
  5. Knowledge
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15
Q

Business environment

A

Surrounding factors that either help or hinder the development of businesses

  1. Economic and legal
  2. Technological
  3. Competitive
  4. Social
  5. Global business
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16
Q

Technology

A

Everything from phones in copiers to computers, medical imaging devices, and various software programs that make business processes more effective, efficient, and productive

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17
Q

Productivity

A

Amount of output you generate given the amount of input (hours worked)

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18
Q

E – commerce

A

The buying and selling of goods over the Internet
B2C – Business to customer
B2B – Business to business

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19
Q

Database

A

An electronic storage file for information

Allows businesses to carry only what is popular

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20
Q

Identity Theft

A

Obtaining of individual personal information such as Social Security and credit card numbers for illegal purposes

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21
Q

Empowerment

A

Giving front-line workers the responsibility, authority, training, and equipment they need to respond quickly to customers

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22
Q

Demography

A

Statistical study of the human population with regard to its size, density, and other characteristics, such as age, race, gender, and income

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23
Q

Climate Change

A

The movement of the temperature of the clean up or down overtime
Global warming issue

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24
Q

Greening

A

The trend toward saving energy and producing products that cause less harm to the environment

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25
Q

Economics

A

The study of how society chooses to employee resources to produce goods and services and distribute them for consumption among various competing groups and individuals
Macro: Operation of the nations economy
Micro: Behavior of people and organization in the market for a particular products and/or services

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26
Q

Invisible Hand

A

A phrased coined by Adam Smith to describe the process that turn self-directed being into social and economic benefits for all

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27
Q

Capitalism

A

An economic system in which all or most of the factors of production industry fusion are privately owned and operated for profit

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28
Q

Foundation of Capitalism

A

The right to own private property, the right to own a business and keep all that business’s profits, the right to freedom of competition, and the right to freedom of choice

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29
Q

Free Market

A

Decisions about what and how much are made by the market

Prices tell producers how much to make

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30
Q

Supply

A

The quantity of products that manufacturers or owners are willing to sell at different prices at a specific time
Increase in price equals an increase in number

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31
Q

Demand

A

The quantity of products that people are willing to buy at different prices at specific times

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32
Q

Equilibrium

A

When the demand equals the supply

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33
Q

Market Price

A

Determined by supply and demand

Usually determined by the equilibrium

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34
Q

Perfect Competition

A

Degree of competition in which there are many sellers in the market and none is large enough to dictate the price of a product

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35
Q

Monopolistic Competition

A

Degree of competition in which a large number of sellers produce very similar products that buyers nevertheless perceived as different

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36
Q

Oligopoly

A

Degree of competition in which just a few sellers dominate the market

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37
Q

Monopoly

A

Degree of competitions in which only one seller controls the total supply of a product or service, and sets the price

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38
Q

Socialism

A

Economic system based on the premise that some, if not most, basic businesses should be owned by the government so that profits can be more evenly distributed among the people

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39
Q

Communism

A

Economic and political system in which government makes almost all economic decisions and owns almost all major factors of production

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40
Q

Free Market

A

When market largely determines what goods and services produced, who gets them, and how the economy grows

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41
Q

Command Economies

A

When the government determines what products are produced, who gets them, and how the economy grows

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42
Q

Mixed Economy

A

Economic systems with some allocations of resources is made by the market and some by the government

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43
Q

Gross Domestic Product (GDP)

A

Total value of final goods and services in a country in a given year

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44
Q

Unemployment Rate

A

The number of civilians at least 16 years old who are unemployed and try to find a job with in the prior four weeks
Frictional, structural, cyclical, seasonal

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45
Q

Inflation

A

General rise of prices of goods and services overtime

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46
Q

Deflation

A

A situation when prices are declining

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47
Q

Disflation

A

A situation in which price increases are slowing

The inflation rate is declining

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48
Q

Stagflation

A

Economy is slowing the prices are going up anyhow

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49
Q

Consumer Price Index (CPI)

A

Monthly statistics that measure the pace of inflation or deflation

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50
Q

Producer Price Index (PPI)

A

Index that measures the prices at the wholesale level

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51
Q

Business Cycle

A

Periodic rises and falls that occur in economies overtime

Economic boom, recession, depression, recovery

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52
Q

Recession

A

Two or more consecutive quarters of decline in the GDP

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53
Q

Depression

A

Severe recession, usually accompanied by deflation

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54
Q

Fiscal Policy

A

Federal government efforts to keep the economy stable by increasing or decreasing taxes or government spending

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55
Q

National Debt

A

Sum of government deficits overtime

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56
Q

Keynesian Economic Theory

A

Theory that government policy of increasing spending and cutting taxes could stimulate the economy in a recession

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57
Q

Monetary Policy

A

Management of the money supply and interest rates by the Federal Reserve

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58
Q

Importing

A

Buying products from another country

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59
Q

Exporting

A

Selling products to another country

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60
Q

Free-trade

A

Produce what it is most capable of producing and by what it needs from other countries in a mutually beneficial exchange relationship

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61
Q

Comparative Advantage Theory

A

Theory that states that a country should sell to other countries whose products that it produces most effectively and efficiently, and by other country’s whose products it cannot produce as effective or efficient

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62
Q

Absolute Advantage

A

Advantage that exists when a country has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries

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63
Q

Balance of Trade

A

Total value of the nation’s exports compared to its imports measured over a particular period

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64
Q

Trade Surplus

A

Favorable balance of trade, occurs when the value of the countries exports exceeds that of its imports

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65
Q

Trade Deficit

A

And unfavorable balance of trade, occurs when the value of a country’s imports exceeds that of its exports

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66
Q

Balance of Payments

A

Difference between money coming into the country from its exports in money leaving for imports plus money flows from other factors

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67
Q

Dumping

A

Selling products in a foreign country at lower prices than those charged in producing country

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68
Q

Licensing

A

A global strategy in which a firm allows a foreign company to produce its product in exchange for a fee known as a royalty

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69
Q

Franchising

A

Contractual agreement whereby someone with a good idea for a business sells others the right to use the name and sell a product or service and given territory in a specific manner

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70
Q

Contract Manufacturing

A

A foreign company’s production of private label goods to which a domestic company then attaches it’s brand-name or trademark, part of the broad category of outsourcing

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71
Q

Joint Venture

A

Partnership in which two or more companies often from different countries joined to undertake a major project

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72
Q

Strategic Alliance

A

A long-term partnership between two or more companies established to help each company build competitive market advantage

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73
Q

Foreign Direct Investment (FDI)

A

The buying of permanent property and businesses in foreign nations

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74
Q

Foreign Subsidiary

A

A company owned in a foreign country by another company known as the parent company

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75
Q

Multinational Company

A

An organization that manufactures and markets products and many different countries and has multinational stock ownership in multinational management

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76
Q

Sovereign Wealth Funds (SWFs)

A

Investment funds controlled by government holding large steaks in foreign companies

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77
Q

Exchange Rate

A

The value of one nation’s money relative to currencies of other countries

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78
Q

Devaluation

A

Lowering the value of the nations currency relative to other currencies

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79
Q

Countertrading

A

A complex form of bartering in which several countries may be involved each trading good for good or service for service

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80
Q

Trade Protectionism

A

The use of government regulations to limit the import of goods and services

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81
Q

Tariff

A

Tax imposed on imports

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82
Q

Protective Tariff

A

Raise retail price of imported products a domestic goods are more competitively priced

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83
Q

Revenue Tariff

A

Designed to raise money for government

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84
Q

Import Quota

A

Limit on number of products in certain categories that a nation can import

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85
Q

Embargo

A

Complete ban on the import or export of a certain product or the stopping of all trade with a particular country

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86
Q

General Agreement on Tariffs and Trade (GATT)

A

1984 agreement that establish an international forum for negotiating mutual reductions in trade restrictions

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87
Q

World Trade Organization

A

International organization that replace the General agreement on tariffs and trade and was designed the duty to mediate trade disputes among nations

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88
Q

Common Market

A

Original group or of countries with a common external tariff, no Internal tariffs, and country’s laws to facilitate exchange among members

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89
Q

North American Free Trade Association (NAFTA)

A

Agreement that created a free-trade area among the US Canada and Mexico

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90
Q

Ethics

A

Standards of moral behavior excepted by society as right and wrong

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91
Q

Compliance-based ethics codes

A

Ethical standards that emphasize preventing unlawful behavior by increasing control and by penalizing wrongdoers

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92
Q

Integrity-based ethics codes

A

Ethical standards that defined organizations guiding values creating an environment that supports ethical sound behavior and stressed a shared accountability among employees

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93
Q

Whistleblowers

A

Insiders report illegal or unethical behavior

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94
Q

Corporate social responsibility (CSR)

A

A business’s concern for the welfare of society

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95
Q

Corporate philanthropy

A

The dimension of social responsibility that includes charitable donations

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96
Q

Corporate social initiatives

A

Enhanced forms of corporate philanthropy directly related to the company’s competencies

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97
Q

Corporate responsibility

A

The dimension of social responsibility that includes everything from hiring minority workers to making safe products

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98
Q

Corporate policy

A

The dimension of social responsibility that refers to the position of firm takes on social and political issues

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99
Q

JFK basic rights to customers

A

The right to safety, the right to be informed, the right to choose, the right to be heard

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100
Q

Insider trading

A

And unethical activity in which the insiders use private company information to further their own fortune or those of their family and friends

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101
Q

Social audit

A

A systematic evaluation of an organization’s progress toward implementing social responsibility and responsive programs

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102
Q

Sole proprietorship

A

A business that is owned and managed by one person

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103
Q

Partnership

A

A legal form of business with two or more owners

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104
Q

Corporation

A

A legal entity with authority to act and have liability apart from its owners

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105
Q

General partnership

A

A partnership in which all owners share in operating the business and assuming liability for the business’s debt

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106
Q

Limited partnership

A

A partnership with one or more general partners in one or more limited partners

107
Q

Advantages to sole proprietorship

A

Ease of starting and ending the business, being your own boss, pride of ownership, leaving a legacy, retention of company profits, no special taxes

108
Q

Disadvantages to sole proprietorship

A

Unlimited liability, limited financial resources, management difficulties, overwhelming time commitment, if you fringe benefits, limited growth, Limited lifespan

109
Q

General partner

A

An owner who has unlimited liability and is active in managing the firm

110
Q

Limited partner

A

An owner who invest money in the business but does not have any management responsibility or liability for losses be on the investment

111
Q

Limited liability

A

The responsibility of a business owner for losses only up to the amount they invest

112
Q

Master limited partnership (MLP)

A

A partnership that looks much like a corporation but is taxed like a partnership and thus avoids the corporate income tax

113
Q

Limited liability partnership (LLP)

A

partnership that limits partners risk of losing their personal assets to only their own acts and omissions and to the acts omissions of people under their supervision

114
Q

Conventional corporation

C Corporation

A

State chartered legal entity with authority to act and have liability separate from its owners

115
Q

S corporation

A

a unique government creation that looks like a corporation but is taxed like sole proprietorships and partnerships

116
Q

Limited liability company (LLC)

A

Similar to an S corporation but without the special eligibility requirements

117
Q

S corporation requirements

A

No more than 100 shareholders, shareholders that are individuals or state and who are citizen/permanent citizens of US, only class of stock, derive no more than 25% of income from passive sources

118
Q

Mergers

A

The result of two firms joining to form one company

Think of a marriage

119
Q

Acquisitions

A

One companies purchase of the property and obligations of another company
Think of buying a house

120
Q

Vertical mergers

A

Join two firms operating in different stages of related businesses
Example: soft drink company in artificial sweetener company

121
Q

Horizontal mergers

A

Join two firms in the same industry and allows them to die versify or expand their products
Example: soft drink company and a mineral water company

122
Q

Conglomerate merger

A

Joining of firms in completely unrelated industries

example: soft drink company and a foods company

123
Q

Leverage buyout

A

An attempt by employees, management, or a group of investors to purchase an organization primarily through borrowing

124
Q

Franchise agreement

A

And arrangement whereby someone with a good idea for a business sells the right to use the business name and sell a product or service to others in a given territory

125
Q

Franchisor

A

A company that develops a product concept and sells others the rights to make and sell the product

126
Q

Franchise

A

The right to use a specific business’s name and sell it’s products or services in a given territory

127
Q

Franchisee

A

A person buys a franchise

128
Q

Cooperatives

A

A.k.a. co-op

Business owned and controlled by people who use it

129
Q

Entrepreneurship

A

Excepting the risk of starting and running a business

130
Q

Entrepreneurial team

A

A group of experienced people with different areas of business join together to form a managerial team with the skills needed to develop, make, and market a new product

131
Q

Micropreneurs

A

Entrepreneurs willing to except the risk of starting in managing the type of business that remain small
Let’s them do the kind of work they want to do and offer them a balanced lifestyle

132
Q

Affiliate marketing

A

An Internet-based marketing strategy in which a business rewards individuals or other businesses for each visitor or customer to affiliate sends to its website

133
Q

Intrapreneurs

A

Creative people who work as entrepreneurs was in a corporation

134
Q

Enterprise zones

A

Specific geographic areas to which governments try to attract private business investments by offering lower taxes and other government support

135
Q

Incubators

A

Centers that offer a new business low cost offices with basic business services

136
Q

Small business

A

A business that is independently owned and operated, is not dominant in its field of operation, and meet certain standards of size set by the small business administration in terms of employees or annual receipts

137
Q

Business plan

A

A detailed written statement that describes the nature of the business, the target market, and advantages the business will have in relation to competition, and the resources and qualifications of the owners

138
Q

Angel investors

A

Private individuals who invest their own money and potential hot new companies before they go public

139
Q

Venture capitalists

A

Individuals or companies that invest in new businesses in exchange for partial ownership of those businesses

140
Q

Small business administration (SBA)

A

A US government agency that advises and assist small businesses by providing management training and financial advice and loans

141
Q

Small business investment company program (SBIC Program)

A

A program through which private investment companies licensed by the SBA lending money to small businesses

142
Q

Market

A

People with unsatisfied wants and needs who have both the resources and willingness to buy

143
Q

Service corps of retired executives (SCORE)

A

And SBA office with volunteers from industry, trade associations, and education who counsel small businesses at no cost except for expenses

144
Q

Management

A

The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources

145
Q

Planning

A

A management function that includes anticipating trends in determining the best strategies and and tactics to achieve organizational goals and objectives

146
Q

Organizing

A

A management function that includes designing the structure of the organization in creating conditions and systems in which everyone and everything work together to achieve the organizations goals and objectives

147
Q

Leading

A

Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organizations goals and objectives

148
Q

Controlling

A

A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not

149
Q

Vision

A

An encompassing explanation of why the organization exists and where is trying to head

150
Q

Goal

A

The broad, long term accomplishments and organization wishes to obtain

151
Q

Objectives

A

Specific, short-term statements detailing how to achieve the organizations goals

152
Q

Mission statement

A

An outline of the fundamental purposes of the organization
Organization self concept, it’s philosophy, long-term survival needs, customer needs, social responsibility, name of the product or service

153
Q

Strategic planning

A

The process of determining the major goals of the organization in the policies and strategies for obtaining and using resources to achieve these goals

154
Q

Tactical planning

A

The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done

155
Q

Operational planning

A

The process of setting work standards and schedules necessary to implement the companies tactical objectives

156
Q

Contingency planning

A

The process of preparing alternative courses of action that may be used is the primary plans don’t achieve the organizations objectives

157
Q

Decision-making

A

choosing among two or more alternatives

Define situation, describing collect needed information, develop alternatives, develop agreement among those involved, decide which alternative is best, do what is indicated, determine whether the decision was a good one and follow up

158
Q

Brainstorming

A

Coming up with solutions to a problem in a short period of time with no censoring of ideas

159
Q

PMI

A

Listing all the pluses for the solution in one calling all the minuses in another, in all the implications in the third column

160
Q

Top management

A

The highest level of management consisting of the president and other key company executives who develop strategic plans

161
Q

Middle-management

A

The level of management that include general managers, division manager, and branch/plant managers who are responsible for tactical planning and controlling

162
Q

Supervisory management

A

Managers who are directly responsible for supervising workers and evaluating their daily performance

163
Q

Technical skills

A

Skills that involve the ability to perform tasks in a certain discipline or department

164
Q

Human relation skills

A

Skills that involve communication in motivation, been able managers to work through and with people

165
Q

Conceptual skills

A

Skills that involve the ability to picture the organization as a whole and the relationships among its various parts

166
Q

Staffing

A

A management function that includes hiring, motivating, and retaining the best people available to accomplish the company’s objectives

167
Q

Transparency

A

The presentation of the companies facts and figures in a way that is clear and apparent to all stakeholders

168
Q

Autocratic leadership

A

Leadership style that involves making managerial decisions without consulting others

169
Q

Participative leadership

Democratic leadership

A

Leadership style that consists of managers and employees working together to make decisions

170
Q

Free rein leadership

A

Leadership style that involves manager setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives

171
Q

Enabling

A

Giving workers the education and tools they need to make decisions

172
Q

Knowledge management

A

Finding the right information, keeping the information in a readily accessible place, and making the information on to everyone in the firm

173
Q

External customers

A

Dealers who buy the product to sell to others, and ultimate customers who buy products for their own personal use

174
Q

Internal customers

A

Individuals in units with in the firm that receive services from other individuals or units

175
Q

Economies of scale

A

The situation in which companies can reduce their production costs if they can purchase wrong materials in bulk, the average cost of goods goes down as production levels increase

176
Q

Hierarchy

A

A system in which one person is at the top of the organization and there is a rink or sequential ordering from the top down of managers and others who are responsible to that person

177
Q

Chain of command

A

The line of authority that moves from the top of the hierarchy to the lowest level

178
Q

Organization chart

A

A visual device that shows relationships among people and divides organizations work

179
Q

Bureaucracy

Weber

A

An organization with many layers of managers who set rules and regulations and oversee all decisions

180
Q

Decentralized authority

A

An organization structure in which decision-making authority is delegated to lower-level managers more familiar with local conditions than headquarters management

181
Q

Span of control

A

Optimal number of subordinates a manager supervises or should supervise

182
Q

Tall organization structure

A

Organizational structure in which the parent organization chart would be quite tall because of the various levels of management

183
Q

Flat organization structure

A

Organization structure that has fuelers management and a broad span of control

184
Q

Departmentalization

A

Dividing organizations into separate units

185
Q

Line organizations

A

An organization that has direct two way lines of responsibility, authority, and communication running from the top to the bottom of the organization with all people reporting to only one supervisor

186
Q

Line and staff organization

A

Line personnel: responsible for organizational goals

Staff personnel: advise and assist line personnel in meeting their goals

187
Q

Matrix style organization

A

Organization in which specialist from different parts of the organization are brought together to work on specific projects but still remain part of a line and staff structure

188
Q

Networking

A

Using communication technology and other means to link organizations and allow them to work together on common objectives

189
Q

Real time

A

The present moment or actual time in which something takes place

190
Q

Virtual corporation

A

A temporary networked organization made up of replaceable firms that join and leave as needed

191
Q

Benchmarking

A

Comparing in organizations practices, processes, and products against the worlds best

192
Q

Core competencies

A

Those functions that the organization can do as well as or better than any other organization in the world

193
Q

Digital natives

A

Young people who have grown up using the Internet and social networking

194
Q

Restructuring

A

Redesigning an organization so that it can more effectively and efficiently serve its customers

195
Q

Inverted organization

A

Organization that has contacted people at the top and the chief executive officer at the bottom of the organizational chart

196
Q

Organizational or corporate culture

A

Widely shared values within an organization that provides unity and cooperation to achieve common goals

197
Q

Formal organization

A

Structure of the details of lines of responsibility, Authority, and position

198
Q

Informal organization

A

System that developed spontaneously as employees me informed clicks, relationships, and lines of authority outside the formal organization

199
Q

Engagement

A

Employees level of motivation, passion, commitment

200
Q

Intrinsic reward

A

The personal satisfaction you feel when you perform well and complete goals

201
Q

Extrinsic Reward

A

Something given to you by someone else as recognition for good work

202
Q

Scientific management

A

Studying workers to find the most effective ways of doing things and then teaching people those techniques

203
Q

Principle of motion economy

A

Theory developed by frank and Lillian Gilbreth that every job can be broken down into a series of elements motions

204
Q

Hawthorne effect

A

The tendency for people to behave differently when they know they are being studied

205
Q

Maslow’s hierarchy of needs

A

Theory of motivation based on unmet human needs from basic physiological needs to safety, social, esteem needs to self actualization needs

206
Q

Motivators

A

In Herzburg’s theory of motivating factors that cause employees to be productive and that give them satisfaction

207
Q

Hygiene factors or maintenance factors

A

In Herzburg’s theory of motivating factors, job factors that can cause dissatisfaction is missing but that do not necessarily motivate employees if increased

208
Q

Theory X assumptions

A

Average person dislikes work and it will avoid if possible

Workers must be forced, controlled, directed, or threatened with punishment

Average worker prefers to be directed, which is to avoid responsibility, has relatively little ambition and want security

Motivators are fear and punishment

209
Q

Theory Y assumptions

A

Most people like work

Most people naturally work towards goals to which they are committed

Depth of commitment based on reward

Accept responsibility

Capable of relatively high degree of imagination, creativity, and cleverness to solve problems

Average persons intellectual potential is only partially realized

Motivated by variety of rewards

210
Q

Goalsetting theory

A

The idea that setting ambitious but attainable goals can motivate workers and improve performance if the goals are excepted, accompanied by feedback, and facilitated by organizational conditions

211
Q

Management by objectives (MBO)

A

A system of goalsetting and implementation, it involves a cycle of discussion, review, and a valuation of objectives I’m on top and middle level managers, supervisors, and employees

212
Q

Expectancy theory

A

Victor Vroom’s theory that the amount of effort employees exert on a specific task depends on the expectations of the outcome

213
Q

Reinforcement theory

A

Theory that positive and negative reinforcers motivate a person to behave a certain way

214
Q

Equity theory

A

The idea that employees try to maintain equity between inputs and outputs compared to others in similar positions

215
Q

Job enrichment

A

A motivational strategy that emphasizes motivating the worker through the job itself

216
Q

Job enlargement

A

Job enrichment strategy that involves combining a series of tasks into one challenging and interesting assignment

217
Q

Job rotation

A

Job enrichment strategy that involves moving employees from one job to another

218
Q

Human resource management (HRM)

A

Process of determining human resource needs and then recruiting, selecting, developing, motivating, evaluating, condescending, and scheduling employees to achieve organizational goals

219
Q

Affirmative action

A

Employment activity designed to “right past wrongs” by increasing opportunities for minorities and women

220
Q

Reverse discrimination

A

Crimination against members of the dominant or majority group usually as a result of policies designed to correct previous discrimination against minority or disadvantaged groups

221
Q

Job analysis

A

Study of what employees do who hold various job title

222
Q

Job description

A

A summary of a job, the work to be done, the responsibilities and duties, working conditions, a relationship of job the other functions

223
Q

Job specifications

A

A written summary of the minimum qualifications required of workers to do a particular job

224
Q

Hawthorne Effect

A

The tendency for people to behave differently when they know they are being watched

225
Q

Maslow’s Heirarchy of Needs

A

Theory of Motivation based on unmet human needs from basic physiological needs to saftey, social, and esteem needs, to self-actualization needs

226
Q

Motivators

A

In Herzburg’s theory of motivating factors that cause employees to be productive and that give them satisfaction

227
Q

hygiene factors or maintenance factors

A

In Herzburg’s theory of motivating factors, job factors that can cause dissatisfaction if missing, but that do not necessarily motivate employees if increased

228
Q

Theory X assumptions

A

Average person dislikes work and will avoid if possible

Workers must be forced, controlled, directed, or threatened with punishment

average worker prefers to be directed, wishes to avoid responsibility, has relatively little ambition and wants security

motivators are fear and punishment

229
Q

Theory Y assumption

A

most people like work

most people naturally work toward goals to which they are committed

depth of commitment based on reward

accept responsibility

capable of relatively high degree of imagination, creativity, and cleverness to solve problems

average person’s intellectual potential is only partially realized

motivated by various rewards

230
Q

Goal Setting theory

A

the idea that setting ambitions but attainable goals can motivate workers and improve performance in the goals are accepted, accompanied by feedback, and facilitated by organizational conditions

231
Q

Management by Objective (MBO)

A

a system of goal setting and implementation

it involved a cycle of discussion, review, and evaluation of objectives among top and middle-level managers, supervisors, and employees

232
Q

expectancy theory

A

Victor Vroom’s theory that the amount of effort employees exert on a specific task depends on their expectations of the outcome

233
Q

reinforcement theory

A

theory that positive and negative reinforcers motivates a person to behave a certain way

234
Q

equity theory

A

the idea that employees try to maintain equity between inputs and outputs compared to others in similar positions

235
Q

job enrichment

A

a motivational strategy that emphasizes motivating the worker through the job itself

236
Q

job enlargement

A

a job enrichment strategy that involved combining a series of tasks into one challenging and interesting assignment

237
Q

job rotation

A

job enrichment strategy that involves moving employees from one job to another

238
Q

Human resource management (HRM)

A

process of determining human resource needs and then recruiting, selecting, developing, motivating, evaluating, compensating, and scheduling employees to achieve an organizational goal

239
Q

affirmative action

A

employment activity designed to “right past wrongs” by increasing opportunities for minorities and women

240
Q

reverse discrimination

A

discrimination against members of a dominant or majority group usually as a result of policies designed to correct previous discrimination against minority or disadvantaged groups

241
Q

job analysis

A

study of what employees do who hold various job titles

242
Q

job description

A

a summary of a job, the type of work to be done, the responsibilities and duties, working conditions, and relationship of job to other functions

243
Q

job specifications

A

a written summary of the minimum qualifications required of workers to do a particular job

244
Q

recruitment

A

set of activities used to obtain a sufficient number of the right employees at the right time

245
Q

selection

A

process of gathering information and deciding who should be hired, under legal guidelines, to serve the best interests of the individual and organization

246
Q

contingent workers

A

temporary workers

247
Q

training and development

A

all attempts to improve productivity by increasing an employees ability to perform

248
Q

orientation

A

activity that introduces new employees to the organization, to fellow employees, to immediate supervisors, and to policies, practices, and objectives of the firm

249
Q

on-the-job training

A

training at the work place that lets the employee learn by doing or by watching others for a while and then imitating them

250
Q

apprentice programs

A

training programs during which a learner works along side an experienced employee to master the skills and procedures

251
Q

off-the-job training

A

internal or external training programs away from the work place that develop any of a variety of skills or foster personal development

252
Q

online training

A

training programs in which employees complete classes via internet

253
Q

vestibule training

A

training done in schools where employees are taught on equipment similar to that used on the job

254
Q

job simulation

A

use of equipment that duplicated job conditions and tasks so trainees can learn skills before attempting them on the job

255
Q

management development

A

process of training and education employees to become good managers, and then monitoring the process of their managerial skills over time

256
Q

networking

A

process of establishing and maintaining contact with key manager in and outside the organization and using those contacts to weave strong relationship that serve as informal development systems

257
Q

performance appraisal

A

evaluation that measures employee performance against established standards in order to make decisions about promotions, compensations, training, or termination

258
Q

fringe benefits

A

benefits that represent compensation beyond base wage

259
Q

cafeteria style fringe benefits

A

fringe benefits plan that allows employees to choose the benefits they want up to a certain dollar amount

260
Q

flextime plans

A

work schedule that gives employees some freedom to choose when to work, as long as they work the required number of hours or complete assigned work

261
Q

core time

A

period when all employees are expected to be at their job stations

262
Q

compressed workweek

A

work schedule that allows an employee to work a full number of hours per week but in fewer days

263
Q

job sharing

A

arrangement whereby two part time employees share one full time job

Management 1 (2 decks)

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