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Flashcards in CH.1 - intro to mgmt Deck (26):
1

VUCA

Volatility, Uncertainty, Complexity, Ambiguity

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volatility

unstable/unpredicted change

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uncertainty

lack of knowledge

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complexity

many interconnections

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ambiguity

lack of knowledge, cause/effect

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vuca is what

context in which today's organizations compete

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for success to occur in VUCA, what does one need

1. strategic planning 2. organizational design 3. individual leadership

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manamgnet definition

plan, budget, organize, problem solve, work thru group to accomplish goal in effective way

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lower level managers are called what and do what

frontline supervisors, technical/process issues

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middle-level managers do what

motivate, develop teams, financial plans, reports, talents recruit

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senior execs do what

set vision/agenda, oversee, strategic execution, leaders/managers

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Max Weber

bureacractic organization structure - differentiating tasks/responsees among individuls ex. military

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frederick taylor

scientific mgmt, how jobs, work, incentive shcemes oculd be designed to improve productivity using industrial engineering methods

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human relations movemnt

emphasizes importance

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contingent view

effective organizational structure based on fit between organization and its enviornment; social, poiltical, business enviornments play large roles in shaping way effective organizations are structred

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business enviornemnt

includes all contextual forces and elements shpaing and impacting internal and external enviornemnts of a firm

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managerial view

saw firm as mechanism for converting raw materials into products to sell to customers- relationship between firm and its suppliers, customers, owners, employees

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shareholder view

slow economic growth and high inflation and increased penetration of foreign competition

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stakeholder view

indentifies, analyzes multiple groups that interact w/firm and attempts to align organizational practices to satisfy needs of various groups - local communities, customers, competitiors

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stakeholder theory

stakeholder is any group/individual who can affect/is affected by acheivement of an organization's purpose

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stakeholder mapping process does what

determines who benefits, influences firm's decisions

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strategic review process

senior leaders meet w/business unit managers in formal review sesion= performance is reviewed

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enviornmental scanning-

managers scour business horiziaon fo key events and trends that will affect business in the future- can be done thru scenario building

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contingency planning

manager assigns probabilites to alternative futures and preemtpive action steps to prepare the firm

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contextual intelligence

understanding impact of enviornment factors on business operated and understand how they can influence or react to same factors

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view of scientific mgmt goes like

bureacratic organizational structure to scientific mgmt to human realtions/align with contingent theories