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Organizational Management > Final Exam > Flashcards

Final Exam Flashcards

1
Q

Planning

A
  1. most fundamental management function
  2. most controversial management function
  3. goal-setting focus
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2
Q

Goal

A

a desired future circumstance or condition

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3
Q

Examples of goals

A

increase revenue, staff, profit, and equipment

decrease costs, staff, equipment

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4
Q

Plan

A

blueprint for goal achievement

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5
Q

Mission

A

why we exist! should be brief, purpose of organization

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6
Q

Strategic plans

A

long term, visionary goals to achieve (typically 3-5 years)

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7
Q

Tactical plans

A

feed into a specific part of a strategic plan’s goal, shorter
ex. Strategic plan: A B C D E
Tactical plan = E = social media = day to day operational MBO/MBM

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8
Q

Operational plans

A

day-to-day and feed tactical and strategic plans

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9
Q

two techniques to help with the operational planning

A

MBO

MBM

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10
Q

MBO

A

management by objective (set objectives)

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11
Q

MBM

A

Management by method (don’t focus on objective, focus on method used to get there)

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12
Q

Effective goal setting

A

make sure goals are specific and measurable, defined time period, cover key results areas, challenging but realistic, linked to rewards

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13
Q

Contingency Plan

A

a course of action that your organization would take if an unexpected event or situation occurs. … A contingency plan helps to ensure you are prepared for what may come; a crisis management plan empowers you to manage the response after the incident occurs.

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14
Q

BCG Matrix

A

Market Growth y axis, low high

Market Share x axis, hi, low

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15
Q

high market growth

high market share

A

star (ex. iPad)

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16
Q

low market growth

high market share

A

cash cows (coca cola)

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17
Q

high market growth

low market share

A

question mark

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18
Q

low market growth

low market share

A

dog

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19
Q

BCG Matrix helps

A

plan strategies and own personal investments

20
Q

Corporate Level Strategy (Grand Level Strategy)

A

Growth (want to get bigger, more money, grow business)

21
Q

Types of Grand/Corporate level strategy

A
  1. concentration
  2. vertical integration
  3. related diversification
  4. unrelated diversification
22
Q

Concentration

A

concentrate on what you already do (more/better)

ex. McDonald’s concentrates on fast food only

23
Q

Vertical Integration

A

buy your buyer or buy your seller

trees lumber jack paper mill staples

24
Q

when staples buys papermill

A

buying their seller

25
Q

trees buy lumberjack

A

buying their buyer

26
Q

related diversification

A

getting into products related to current products

  • already know expertise, put all eggs in one basket
  • coca cola buying minute maide
27
Q

unrelated diversification

A

getting into products unrelated to current products

  • getting into more than one market, don’t know expertise
    ex. coca cola buying general motor
28
Q

Business Level Strategy (SBU)

A

(strategic business unit

  1. differentiation
  2. cost leadership
  3. focus
29
Q

differentiation

A

try to be different

30
Q

cost leadership

A

$, compare based on price

31
Q

focus

A

focus on differentiation or price, but focus on region (geographical), focused customer group

32
Q

ex of business level strategy (SBU)

A 
VW
                      |
                  Audi
                /         \
Lamborghini   Bentley
Bently owned by Audi but works independently as an SBU
33
Q

Organizing principles

A
  1. job scope
  2. job depth
  3. work specialization
34
Q

job scope

A

the number of different operations on the job (how many different activities do you do)

35
Q

narrow job scope

A

small number of operations (unhappy employees) (2 opportunities)
- increase scope to make employees more happy

36
Q

job depth

A

the ability to move around, be social, have some freedoms in your job

37
Q

shallow depth

A

not even allowed to socialize with those next to you, leads to unhappy employees

38
Q

work specialization

A

division of labor - ways

vertical: marketing -> boss -> boss -> boss
horizontal: marketing HR Accounting

39
Q

authority

A

formal right based on position

40
Q

responsibility

A

accountability (who is held accountable for what happens)

41
Q

Delegation

A

passing authority and responsibility down to those below you (no delegation = micromanaging)

42
Q

parity principle

A

authority and responsibility must coincide (go together)

43
Q

Span of Management

A
  • looks at how many employees a manager can manage

- traditional 5-10 employees, now up to 50-60

44
Q

span of management variables to consider (increase or decrease span of management

A
  1. stable/routine work by subordinates?
  2. subordinates perform similar tasks?
  3. subordinates highly trained?
  4. rules and procedures readily available for subordinates?
  5. the manager is highly qualified?
45
Q

proximity

A

the farther the distance, the less the span (less employees) (general rule)
- changing due to technology

Organizational Management (3 decks)

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