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Flashcards in Condensed Information for learning (All chapters) Deck (76):
1

What is management?

Management is the pursuit of organizational goals effectively and efficiently by integrating the work of people through planning, organising, leading and controlling.

2

Define: Efficient

Using resources wisely/ cost effectively

How are we using the resources?

3

Define: Effective

To make the right decisions successfully to eventually achieve the goals of the organisation.

What objectives have we chosen?

4

What are the challenges of being a manager?



7

1. Competitive Advantage
Ability to outperform the competitors

2. Diversity
Maximising the value of workers with different backgrounds/ages.

3. Globalisation
Maximising the utility of increased accessibility towards global economy

4. Information Technology
Far-ranging and accelerated decision making through IT, as well as increased communication.

5. Ethical standards
Regarding to moral issues and righteousness in decision making

6. Sustainability
Reaching current demands without compromising the ability of future generations to use resources and reach their demands

7. Individual's own happiness
Fulling one's own life objectives as a manager

5

What are the principle functions of managers?

Planning
Organising
Leading
Controlling

6

Define: Planning

Setting goals and deciding to achieve them

7

Define: Organising

Arranging the tasks, people, and resources effectively to accomplish the work

8

Define: Leading

Motivating, directing and influencing people to achieve the goals

9

Define: Controlling

Monitoring performances, comparing and taking corrective action

10

What are the three levels of management?

Top managers
Middle managers
Front-line managers

11

Top managers

Come up with and execute the overall strategy for the organisation

12

Middle managers

Implement the the competitive strategies as outlines by top managers and organise resources for front line managers

13

Front- line managers

Implement the operational strategies and make short term, task specific decisions.

14

What is a competitive strategy?

Competitive strategy defines is used to show 'what makes you different from the rest'

1. Differentiation
- Broad
- Narrow

2. Cost leadership
- Broad
- Narrow

15

What is an operational strategy?

Operational strategies direct the day to day activities.

16

What are the roles managers can fulfil?

Mintzberg's Roles - Think - I.I.D

Interpersonal - figure head, leader, laison

Informational - monitor, disseminator and spokesperson

Decisional - Entrepreneur, disturbance handler, resource handler and negotiator.

17

Define: General manager

Is responsible for several organisational activities

18

Define: Functional manager

Is responsible for just one organisational activity.

19

What skills are required to be a manger?

Technical skills - specific knowledge required for the industry or to complete tasks

Conceptual skills - Ability to think analytically, to visualise the business as a whole and understand all of its interconnected parts

Human skills - Ability to work well in cooperation with other people

(Bonus)
Political skills - Ability to connect and create networks

20

What are the five hallmarks of a good manager?

1. Gives employees challenging tasks
2. Empowers employees to demonstrate their capacity to do their job.
3. Provides support and feedback
4. Gives recognition and praise
5. Makes touch decisions

21

What are the 2 approaches we can have when making decisions?

Rational

Non-Rational

22

Assumptions of rational decision making

- We are a fully objective and rational decision maker
- We have clear goals and objectives
- The problems we face are clear and unambiguous
- We know all the possible alternatives and consequences of our decision
- We continuously and consistently make rational decisions to maximise our position

23

What are the 4 stages of the rational decision making model?

1. Identify the problem or opportunity

2. Think up alternatives.

3. Evaluate the alternatives and select a solution.

4. Implement and evaluate the solution chosen

24

What are some of the issues with decision making?

- Complexity of the problem
- Business environment uncertainty
- Time and money constraints
- Personal limitations in cognitive skills and capacities
- Information overload
- Competing priorities
- Incomplete information

25

What non-rational decision models are there?

Bounded rationality

Satisficing model

Incremental model

26

Explain bounded rationality

Bounded rationality suggests that a decisions- makers ability to be rational is limited by a number of constraints.
these include but are not limited to;
- Complexity
- Environment uncertainty
- Constraints (time and money)
- Information overload
- Incomplete information
- Personal limitations etc etc..

27

Explain the satisficing model

Managers seek alternatives until they find one that is satisfactory not optimal

"It's good enough"

28

Explain the incremental model

Managers make small decisions which lead them towards bigger alternatives.
This can sometimes help the organisation move towards their goals or move them away from them.

29

Explain intuition model

When managers make a choice without the use of conscious thought or logical inference.
They use their feelings and expertise as sources instead.

30

What are some of the advantages of group decision making?

(When the team is functioning optimally)

1. Greater pool of knowledge
2. Different perspectives
3. Intellectual stimulation
4. Better understanding of decision rationale
5. Deeper commitment to the decision and acceptance of it

31

What are some of the disadvantages of group decision making?

1. A few people can dominate/intimidate and bully
2. Groupthink
3. Satisficing
4. Goal displacement
5. Time consuming
6. Less responsibility for outcomes

32

Define: Groupthink

When members of a group strive to agree for the sake of agreeing.
They fail to accurately asses their decision and the situation/environment.

33

What things managers should keep in mind when there are group decision making tasks?

- They are less efficient
- Group size affects decision quality. (Optimal size of groups?)
- Can become too confident
- Knowledge counts

34

What is participative management?

A process in which employees are involved in setting goals, making decisions, solving problems and making changes in an organisation.

35

Explain some group problem solving techniques.

1. Consensus
Everyone expresses their opinion until a everyone reaches agreement and supports the final decision.

2. Brainstorming
Groups generate multiple ideas and alternatives for solving problems.

3. Delphi -technique
Questionnaires are physically dispersed and participants are asked to answer anonymously to generate ideas

4. Computer aided decision making
Is IT aided decision making which is good a quickly collecting information

36

Name two types of computer aided decision making

Chauffeur driven systems
Ask people predetermined questions (like polling) use keypad or dial to respond.

Group-driven systems
When groups of people meet and express their ideas anonymously on a computer network

37

What are the ineffective responses to decision making?

(4)

Relaxed avoidance - take no action in the belief that there will be no great negative consequences

Relaxed change - opts of the first alternative with the perceived lowest risk associated.

Defensive avoidance - when a good solution cannot be found they start to procrastinate, pass the buck or deny the risk of the negative consequences

Panic - when manager is frantic and can't deal with the situation realistically

38

What are three effective ways to respond to a decision?

1. Importance - how high priority is it?

2. Credibility - how believable is the information about the situation?

3. Urgency - how quickly must I act?

39

List some common decision making biases.

Think - ROHAS FACE

Representative bias -
Overconfidence bias
Hindsight bias
Availability bias
Framing bias
Consensus
Escalation of commitment

40

How can you help people make decisions?

Program decisions - structured and repetitive responses. good when environment is stable

Mindfulness - encourage them to be in the moment.

Nudge - provide information and requirements

41

What are ethics and values?

Standards of right and wrong that influence our behaviour.
- Absolute views
- Relative views

42

What are the 5 dimensions ethical issues can be mapped to?

Political

Employment

Consumer

Environmental

Governance

43

What are the 4 approaches to ethical dilemma's?

Briefly explain them.

Utilitarian
What will result in the greatest good for the greatest number of people

Individual
Guided by the individuals self interest and long term interests.

Moral rights
Reflecting the fundamental rights of human beings

Justice
Respect for impartial standards fairness and equity

44

How does Kohlberg suppose people learn ethics?

Kohlberg suggests three levels of increasing development.
1. Pre-conventional - follows rules
2. Conventional - follows the expectations of others
3. Post conventional - guided by internal values

45

Identify some factors that can affect employees ethics

- Performance appraisal system
- Rules and regulations
- Rewards system
- Time pressures
- Cost restraints
- Culture
- Competitive pressures

46

What behaviours can encourage ethical behaviour?

1. Leadership
2. Creating a strong ethical climate
3. Screening prospective employees
4. Training programs
5. Rewarding ethical behaviour - protecting whistle blowers
6. Job goals and performance appraisal
7. Independent social audits

47

What is CSR?

Corporate social responsibility is the idea that corporations should go beyond following the law and making a profit.

48

Define: Human Resource Management

It is the activities managers perform to plan for, attract develop and train an effective workforce.

49

Outline the strategic human resource management process.

1. Establish mission and vision of organisation.
2. Establish the 'grand strategy'.
3. Formulate the strategic plans.
4. Plan human resources needed.
5. Recruit and select people.
6. Orient, train and develop.
7. Perform appraisals of people
8. Get optimal work performance to help realise the company's vision and mission.

50

What is strategic human resource planing?

Consists of developing a systematic, comprehensive
strategy for understanding current employee's needs and predicting the needs of future employees.

- human capital
- social capital
-knowledge workers

51

how do we understand employees current needs?

Job analysis
Job description
Job specification

52

how do we predict future employee needs?

Human resource inventory

53

What are the different types of interviews people could encounter when getting hired?

Structured
Unstructured
Performance appraisal
Realistic job preview

54

What does the selection processes involve?

Screening of job applicants to hire the best candidate.
- Background information is gathered, interviewing and employment tests.

55

What are the 5 steps in the training process?

1. Assesment - is training needed?
2. Objectives - what should training achieve?
3. Selection - Which training methods should be used?
4. Implementation - how should training be effected?
5. Evaluation - is the training working?

56

What is the difference between training and development?

Training = educating technical and operational employees in how to do better in their current jobs.

Development - educating professionals and mangers in the skills they need to do their jobs better

57

What is performance management?

The continuously cycle of improving job performance through goal setting, feedback and coaching as well as rewards and positive reinforcement.

58

What is performance appraisal?

Assessing an employee's performance and providing them with feedback.
Can be informal or formal

59

Who can make performance appraisals?

- Peers and subordinates
- Managers
- Customers and clients
- Self

60

Quickly describe;
A promotion
A Transfer
Disciplining and demotion
Dismissal

A promotion = moving up
A transfer = moving sideways
Disciplining and demotion = threat of moving downward
Dismissal = moving out of the organisation

61

What are the advantages of front-line managers performing HR responsibilities?

- Fit for job
- Understand the individuals strengths and weaknesses
- Understand how they might work with a unit

62

What are disadvantages of front line mangers performing HR responsibilities?

- They can have little knowledge of HR policies, practices and legal obligations
- Conflict of HR goals vs. managers goals
- Discrimination or favouritism

63

What are some common trends drving change in organisations?

1. The marketplace is becoming more segmented. There are more and more niche products available than ever before.

2. There are more competitors offering targeted products, requiring faster speed to market.

3. Some traditional companies may not survive radically innovative change. Specifically when technological advancements drastically change an industry's landscape.

4. China, India and other offshore suppliers are changing the way we work. Through the opening up of markets and globalisation.

5. Knowledge not information, is becoming the new competitive advantage. We need to have problem solving and abstract thinking skills.

64

Outline Collin's 5 stages for recognising the need to change

Stage 1: Hubris born of success
When an arrogance (hubris) develops in a company attributing its success to their superior qualities. Forgetting about other underlying factors.

Stage 2: Undisciplined pursuit of more
Overconfidence drives the company to do more, achieve more. In places where it does not have core competencies.

Stage 3: Denial of risk and peril
Explain away internal warning signs that continually appear

Stage 4: Grasping for Salvation
Company starts to experience sharp decline and mangers start making desperate leaps or actions to salvage it.

Stage 5: Capitulation to irrelevance or death
Company can be left to be sold, go bankrupt or become irrelevant.

65

What are the two types of change?

Reactive change
- making changes in response to problems or opportunities

Proactive change
- carefully thought out changes in anticipations of possible opportunities or problems
- can be called planned change

66

What are some outside sources of change?

Demographic characteristics
- age
- education
- skill level
- gender

Market changes
- mergers and acquisitions
- domestic and international competition
- recession

Technological advancement
- manufacturing automation
- office automation

Shareholder and customer demands

Supplier practices

Social and political pressures

67

What are some inside sources of change?

Employee problems
- unmet needs
- job dissatisfaction
- absenteeism and turnover
- productivity
- participation and suggestions

Manager's behaviour
- conflict
- leadership
- reward systems
- structural reorganisation

68

What area's is change most often needed?

1. Changing people - perceptions, attitudes, performance, skills.
2. Changing technology
3. Changing structure
4. Changing strategy

69

What are the three main forces that are resistant to change?

Employee characteristics

Change agent characteristics

Change agent employee relationship

70

Describe three types of change and their threat level

Adaptive change - least threatening
Reintroduction of a familiar practice

Innovative change - somewhat threatening
Introduce a practice that is new to the organisation

Radically innovative change - very threatening
Introduce a practice that is new to the industry

71

List the 10 reasons employees resist change

1. Individuals predisposition towards change
2. Surprise and fear
3. Climate mistrust
4. Fear of failure
5. loss of status or job security
6. Peer pressure
7. Disruption of cultural relationships
8. Personality conflicts
9. Lack of tact or poor timing
10. Non-reinforcing rewards system

72

List ways managers can overcome resistance to change

Education and communication
Participation
Facilitation and support
Negotiation and rewards
Manipulation and co-potation
Coercion

73

Outline Lewin's change model

Unfreezing
- create the motivation to change

Changing
- learn new ways of doing things

Refreezing
- making the new ways normal

74

Outline Kotter's 8 steps for leading organisational change.

1. Establish a sense of urgency so the organisation understands why change is important and why it is needed.
2. Build coalitions among a team that will lead the change and have the power to implement it.
3. Have a clear vision and strategy as the basis for implementing change
4. Have a communication strategy that ensures the vision and strategic plan are understood by all.
5. Enable and empower employees to make change.
6. Plan short-term goals. Reward and celebrate these small milestones as it reinforces that change is valued.
7. Build on any changes that are made, to continue momentum and flow throughout the organisation.
8. Embed new ways of behaving in the organisations culture. Ensure people know how these processes and practices have changed to create success.

75

What is the organisational development process?

1. Diagnosis - What is the problem?
2. Intervention - what shall we do about it?
3. Evaluation - how well has the intervention worked?
4. Feedback - how can the diagnosis be further refined?

76

What effects organisational development? (OD)

1. Multiple interventions
2. Management support
3. Gaols geared to both short and long term.
4. The culture of the organisation