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chapter 1 Flashcards

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1
Q

Intellectual capital

A

combined brainpower and
shared knowledge of an organization’s employees

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2
Q

commitment x compentency

A

intellectual capital

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3
Q

tech iq

A

a person’s ability to use current
technologies at work and in personal life:
* Checking inventory, making a sales transaction,
ordering supplies
* Telecommuting
* Virtual teams

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4
Q

Globalization

A

The worldwide interdependence of resource
flows, product markets, and business competition that characterize our economy

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5
Q

Job migration

A

when firms shift jobs from
one country to another

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6
Q

Reshoring

A

is the shifting of manufacturing and
jobs back home from overseas

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7
Q

Ethics

A

Code of moral principles that set standards of
conduct of what is “good” and “right”, as well
as “bad” and “wrong”

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8
Q

corportate governance

A

Board of directors hold top management
responsible for organizational performance

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9
Q

Workforce diversity

A

reflects differences with
respect to gender, age, race, ethnicity, religion,
sexual orientation, and able-bodiedness

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10
Q

Prejudice

A

the display of negative, irrational
opinions and attitudes

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11
Q

Discrimination

A

unfairly treating members of
some groups

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12
Q

Glass ceiling effect

A

an invisible barrier or
ceiling

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13
Q

Careers and Connections

A

Organizations consist of three types of workers,
sometimes referred to as a shamrock
organization

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14
Q

Free-agent economy

A

People change jobs more often and work on
flexible contracts

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15
Q

Self-management

A

Ability to assess oneself realistically, recognize
strengths and weaknesses, make constructive
changes, and manage personal development

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16
Q

Organizations

A
  • A collection of people working together to
    achieve a common purpose
  • Organizations provide goods and services of
    value to customers and clients, and seek to serve
    society
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17
Q

resource inputs

A
  • people
  • money
  • materials
  • technology
  • information
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18
Q

product outputs

A

finished goods and services

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19
Q

value is created when

A

an organization’s
operations add value to the original cost of
resource inputs

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20
Q

when value creation occurs

A
  • Businesses earn a profit
  • Nonprofit organizations add wealth to society
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21
Q

Productivity

A

An overall measure of the quantity
and quality of work performance with resource
utilization taken into account

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22
Q

Performance effectiveness

A

An output measure
of task or goal accomplishment

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23
Q

Performance efficiency

Study These Flashcards
A

An input measure of
the resource costs associated with goal
accomplishment

24
Q

goal attainment and resource utilzation

25
Workplace changes that provide a context for studying management
- Focus on valuing human capital * Demise of “command-and-control” * Emphasis on teamwork * Pre-eminence of technology * Importance of networking * New workforce expectations * Concern for sustainability
26
importance of human resources and managers
- People are not ‘costs to be controlled’ * High performing organizations treat people as valuable strategic assets
27
Manager
- Directly supports, supervises, and helps activate the work efforts of others * The people who managers help are the ones whose contributions represent the real work of the organization
28
Board of directors
makes sure the organization is run well
29
Top managers
are responsible for performance of an organization as a whole or for one of its major parts
30
Middle managers
oversee large departments or divisions
31
Team leaders
supervise non-managerial workers
32
supervise non-managerial workers
are responsible for work activities that directly affect organization’s outputs
33
Staff managers
use technical expertise to advise and support the efforts of line workers
34
Functional managers
are responsible for a single area of activity
35
General managers
are responsible for more complex units that include many functional areas
36
Administrators
work in public and non-profit organizations
37
Quality of work life (QWL)
An indicator of the overall quality of human experiences in the workplace
38
QWL Indicators
- Respect * Fair pay * Safe working conditions * Opportunities to learn and use new skills * Room to grow and progress in a career * Protection of individual rights
39
Management
is the process of planning, organizing, leading, and controlling the use of resources to accomplish performance goals
40
the managment process
- planning - organziing - leading - controlling
41
Planning
The process of setting objectives and determining what actions should be taken to accomplish them
42
Organizing
The process of assigning tasks, allocating resources, and coordinating work activities
43
Leading
The process of arousing people’s enthusiasm and inspiring them to work hard to achieve goals
44
Controlling
The process of measuring work performance, comparing results, and taking corrective action
45
Characteristics of managerial work
- Long hours * Intense pace * Fragmented and varied tasks * Many communication media * Filled with interpersonal relationships
46
Agenda setting
Develops action priorities for accomplishing goals and plans
47
Networking
Process of building and maintaining positive relationships with people who can help advance agendas
48
Social Capital
Capacity to attract support and help from others
49
Learning
The change in a behaviour that results from experience
50
Lifelong learning
The process of continuously learning from daily experiences and opportunities
51
Bargaining power of suppliers
- Ease of switching suppliers and costs of switching suppliers * Availability of substitute products for inputs * Cost of inputs relative to selling price of end product * Threat of forward or backward integration
52
bargaining power of buyers
- Buyer concentration to firm concentration ratio * Buyer volume * Buyer’s ability to get similar products and buyer’s switching costs * Buyer price sensitivity
53
Threat of potential entrants
- Profitability of the industry * Barriers to entry (capital costs, patents, rights, etc.) * Power of existing brands * Access to distribution * Cost advantages / disadvantages * Expected retaliation
54
threats of substitutes
* Buyer sensitivity to pricing; relative pricing of products * Buyer propensity to substitute * Buyer switching costs * Perceived level of product differentiation
55
Intensity of industry competition
- Number of competitors and rate of industry growth – Food Retail * Exit barriers – Natural Resources * Impact of industry overcapacity – Consumer electronics * Fixed costs – Airline * Levels of advertising – Beverage * Economies of scale – Automotive 7

gms (9 decks)

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