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petros classes exam review > business exam review nyfw > Flashcards

business exam review nyfw Flashcards

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1
Q

what are three levels of management

A
  1. top managers
  2. middle mangers
  3. first-line managers
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2
Q

define a top manger + example

A

someone who is responsible for the performance of an organization as a whole or for one of its larger parts
ex-
president, CEO, VP

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3
Q

define- middle managers + example

A

in charge of relativelt large departments/ divsions
ex- regional or plant manager

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4
Q

define first-line mangers + example

A

in charge of a small group of non-mangers
ex
supervisor or team leader

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5
Q

define the unity of command

A

each person should receive orders from only one boss

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6
Q

define unity of direction

A

one person should be in charge of all activities with the same performance objectives

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7
Q

what type of management id Fredricks Taylors four guiding principles

A

scientific management

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8
Q

what are fredrick Taylors four guiding principles

A

1) develop rules of motion, standardized work implements and proper working conditions for every job

2) carefully select worker with the right abilities for the job

3) carefully train workers and provide incentives

4) support workers by carefully planning their work and removing obstacles

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9
Q

what does mcgregors theory x assume about workers

A

his theory assumes…..
- dislike work
- lack ambition
- are irresponsible
- resist change
- prefer to be led

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10
Q

what does theory y assume about workers

A

his theory assumes…..
- willing to work
- capable of self control
- willing to accept responsibility
- imaginative and creative
- capable of self- direction

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11
Q

list the 4 implications of mcgregors theory x and why

A
  1. mangers create self-ruffling prophecies
  2. . theory x manages create situations where workers become dependent and reluctant
  3. theory y mangers created situations where workers respond with initiate and high performance
  4. central to notions of empowerment and self-mangment
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12
Q

identify foccc - the 5 rules of mangment

A

1) Foresight- to complete a plan of action for the future

2) organization- to provide and mobilize resources to implement the plan

3) command - to lead, select and evaluate workers to get the best work toward the plan

4) coordination- to fit diverse efforts together and ensure information is shared and problems solved

5) control to make sure things happen according

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13
Q

explain the Hawthorne study

A

Initial study examined how economic incentives and physical conditions affected worker output, such as lighting, temperature, etc (no consistent relationship found.)

Psychological factors (human interactions) influenced results

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14
Q

Hawthorne study- name the 2 reasons for increased productivity

A

1) Some things satisfied some workers but not others

2) People restricted output to adhere to group norms

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15
Q

Hawthorne study key ideas

A

Social and human concerns are keys to productivity

Hawthorne effect - people who singled out for special attention perform as expected

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16
Q

maslows hierarchy of needs

A

A need is a physiological or psychological deficiency a person feels compelled to satisfy

Deficit principle: a satisfied need is not a motivator of behaviour

Progression principle: a need becomes a motivator once the preceding lower-level need is satisfied

Both principles ceaese to operate at self- actualization level

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17
Q

name the 5 needs of Maslow theory

A
  1. self actualization
  2. esteem needs
  3. social needs
  4. safety needs
  5. physcological needs
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18
Q

define self actualization

A

highest level
- needs for self-fulfilment to grow and use abilities to fullest and most creative extent

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19
Q

define esteem needs

A
  • need for respect, prestige recognition and self-esteem, personal sense of competence
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20
Q

social needs

A
  • need for love, affection sense of belongings in ones relationship with people
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21
Q

safety needs

A

Need for security, protection, and stability in the events of day-to-day life

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22
Q

physiological needs

A

Most basic of all human needs: need for biological maintenance food water and physical well-being

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23
Q

scalar chain

A

There should be a clear and unbroken line of communication from the top to the bottom of the organization

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24
Q

motion study

A

science of reducing a job or a task to its basic physical motions

Eliminating wasted emotions improves performance

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25
List the 3 branches of classical management
1. scientific mangment (four guiding principles 2. administrative priceless (foccc) 3. bureaucratic organizations
26
beraurucratic organizations
max weber Believed people should be in position of authority because of job related capabilities not social standing He believed he could ensure this by creating bureaucracy - an ideal, intentionally rational and very efficient form of organization Based on principles of logic and order Characteristics and disadvantages of bureaucracy CHARACTERISTICS -Clear division of labour -Clear hierarchy of authority -Formal rules ans procedures POSSIBLE DISADVANTAGES -Excessive paper work -Slowness in handling problems -Rigidity in the face of shifting needs -Resistance to change employee apathy
27
Quaintitative forecasting
An actual example is of a grocery store trying to eliminate wait times at the checkout during certain times of the day
28
Managers vs administrations
General manager Responsible for the comlex units and many functional areas Administrator Is a manager in a public or non-profit organization
29
Prejudice vs discrimination
Prejudice Making judgements, having negative attitudes about a person from a diverse group Discrimantion When individuals are unfairly treated because they are a member of a diverse group
30
stakeholders
What is a stake holder Those persons groups and other organizations directly affected by the behaviour of the organization and holding a stake in its performance Seven types of organizational stakeholders 1. Employees - Work for the organization 2. Customers - Purchase the organizations goods and/ or use its services 3. Suppliers - providers of human information, material and financial resources 4. Owners - Stockholders investors and creditors with claims on assets and profits 5. Competitors - Other organizations producing the same or similar goods 6. Regulators - Local provincial and federal agenecies that enforce laws 7. Interest groups - Community groups activists and other representing interest of citizens and society
31
Prejudice vs discrimination
Prejudice Making judgements, having negative attitudes about a person from a diverse group Discrimantion When individuals are unfairly treated because they are a member of a diverse group
32
Globalization
Is a worldwide interdependence of resources flows, product market and business competition
33
Networking
The process of creating positive relationship with peopl;e who can help advance.
34
Ultartiarn view of ethics
Greatest good to the greatest number of people
35
Forecasting
Process of predicting what will happen in the future
36
Whistleblower
Whistleblowers Exposes misdeeds of others -perserve ethical standards -protect against wasteful, harmful or illegal acts
37
Ethics
Sets standards of good or bad or right or wrong in ones conduct
38
Short range plans
Covers one year or less
39
Long range plans
Covers three or more years
40
Mission statement purpose
Expresses the organizations reason for existence in society
41
Organizational culture
Every human organization (such as small family business, a school or a large global corporation) creates a uniqu culture all its own These organizations span cultures and time zones and each organization has a distinct identity
42
List the four benefits of planning
FACT Focus & flexibility Action orientation Coordination & control Time management
43
Planning
Planning (chapter 4.1- slide 8) Is the process of setting objectives and determining how to accomplish them Planning Define your objectives Determine where you stand in relation to objectives Develop premises regarding future conditions analyze alterniates and make a plan Implement the plan and evaluate results
44
Transformational change
Major and comprehensive redirection ex replacing an old car with a new car
45
Incremental change
Adjusting existing systems and practices through improvements ex tuning up the engine on a car
46
Policy
Broad guidelines for making decisions and taking action in specific circumstances
47
Procedure
Plans that describe exactly what actions are to be taken in specific situations
48
Tactical plan
Define what needs tobe done in specific functions to implement strategic plans. They often take the form of Functional plans (Describe how different operations within the organization will help advance the overall success) Production plans Financial plans Facilitate plans Marketing plans Human resource plans
49
Top-down vs bottom up change
Top down change Changes with the goal of improving organizational performance Driven by top leadership Made possible by support of middle level and lower level workers Bottom up change The initiatives for change come from any and all parts of the organization not ust the top mange,ent Crucial for organizational innovation Made possible by employee empowerment employee involvement and employee participation
50
Planned change process
Phases of planned change Unfreezing The phase in which situation is prepared for change and needs for change are devlioped Changing The phase i which something new takes place in the system and change is actually implemented Refreezing The phase of stabilizing the change and creating the conditions for its logn term continuty
51
Performance gap
A discrepancy between a desired and an actual state of affairs
52
BCG matrix
Boston consulting group (bcg matrix) Ties strategy formulation to analysis of business opportunities according to Industry or market growth rate (low versus high) Market share (low versus high) ???? High low Poor position: growing industry Growth or retrenchment strategy Star High high Dominant position: growing industry Growth strategy Dogs Low low Poor position : low growth industry Retrenchment strategy Cashcows Low high Dominant position: low growth industry Stability or modest growth strategy
53
Downsizing
A downsizing strategy decreases the size of operations
54
Co-opetition
Strategy of working with rivals on projects of mutual benefit
55
Strategic planning
Set broad, comprehensive and longer-term action directions for the entire organization
56
Flexible budget
Resources can vary in proportion with levels of activity
57
Contingency planning
Identifies alternative courses of action to take when things go wrong
58
Benchmarking
Uses external and internal comparison to plan for future improvements
59
Transformational leadership
Someone who is truly inspirational as a leader and who arouses others to seek extraordinary performance accomplishments
60
Transactional leadership
Someone who directs the efforts of others through tasks rewards and structures
61
Job description
duties and repsobilites of the jobholder
62
Job analayis
Examines exactly what is done in a job and why
63
Human resource planning
Job analysis Job description
64
Orientation
Familarizes new employees with jobs, co-workers and organizational polices and services
65
External recruitment vs internal recruitment
External recruitment Candidates are sought from outside the hiring organization (ad in newspaper) Internal recruitment Candidates are sought from within the organization (posting in work room or email to employees)
66
Human resource management
Prejudice Is the display of negative irrational attidues toward members of diverse poopulations Dicrimantion of employment Occurs when someone is denied a job or job assignment for reasons that are not relevant to the job Employment equity The right to employment without regard to race color national orgin
67
Personal power (expert, referent, relational)
Based on unique personal qualities that a person brings to a leadership situation Expert power Capacity to influence others because of ones knowledge and skills Refernet power Capacity to influence others because they admire you and want to identify with you Relational power The ability to function well as a team working towards a collective goal
68
Position power
Based on a mangers official status in the organizations hierarchy Reward power Capable of offering something of value Coercive power Capable of delivering punishment or witholding positive outcomes Legitimate power Organization position or status confers right to control those in subordinate positions
69
Leading
The process of inspiring others to work hard to accomplish omportangt tasks
70
Types of benefits
Bonus pay Plans provide one time payments based on performance accomplishments Stock ownership plans Helps employees purchase stock in their employing companies
71
Work life balance
Involves balancing career demands with personal and family needs
72
Independent contractors
Hired as need and not are apart of the orginzations permanent team
73
Intrinsic rewards
Valued outcomes that occur from withing
74
Extrinsic rewards
Valued outcomes given to someone by another person
75
Internal control
Allows motivated individuals and groups to exercises self discipline in fufflinf job expectations
76
External control
Occurs through personal supervision and the use of formal administrative systems
77
Bureaucratic control
Influences behaviour through authority polices procedures job descriptions and day to day supervisions
78
Clan control (
Influences behaviour through norms and expectations set by organizational culture
79
Perception
The process through which people receive organize and interpret information from the same environment People can perceive things or situations

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