LESSON 8 & 9 Flashcards by Mei Nyanqius

It is a primary management function that involves setting the direction and goals of an organization, establishing a system that will define the activities of the organization, and formulating a plan to ensure that the system works toward achieving the goals of the organization

Planning

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Possible actions that a manager can choose from in making a decision

Alternatives

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Recorded data that can be presented as print material, online, content and other media

Documentation

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It describes what the company wants to achieve and where it wants to go im the future

Vision statement

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Types of vision statements

Graphic, Directional, Focused, Flexible, Feasible, Desirable, Easy to communicate (GDFFFDE)

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It describes a company’s reason for its existence

Mission statement

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Specific accomplishments or action plans that are usually attained after a long period

Goals

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Refer to action plans that involve shorter periods and more measurable outputs

Objectives

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Type of plan that is designed by top management such as the CEO or president

Strategic plans

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Type of plans that creates specific plans for specific areas of the company

Tactical plans

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Type of plans that are also specific procedures and processes made by frontline or low-level managers

Operational plans

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Set of principles that guide managers in addressing a particular issue

Policy

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A regulation which describes and regulates the functions of an organization

Rule

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A step-by-step process in accomplishing a task or achieving an objective

Procedure

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It is a special plan created for unexpected scenarios or changes

Contingency plan

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It is a plan made in preparation for any kind of crisis such as industrial disasters like fire, or natural disasters like earthquakes and typhoons

Crisis management plan

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What are the five steps in the planning process?

Formulates goals and objectives
Identify the courses of action
Assign responsibilities
Document the plan and distribute to people concerned
Review the plan and adjust accordingly

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Strategy that is comprehensive and detailed for it is the backbone of subsequent plans and are usually conducted by the CEO and other members of the top management

Corporate strategy

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This strategy is concerned with building a competitive advantage for a single business unit of a diversified company

General business strategy

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Is a strategy that determines a particular function or process and is formulated by middle-level management officers

Functional strategy

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Is a strategy that is narrower and more focused formulated by low-level managers of frontline supervisors

Operational strategy

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A type of resource that includes the capital or investment that a company needs to start and sustain the business

Financial resources

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A type of resource that is considered as the company’s primary assets and are composed of employees who possess the skills and competencies needed for specific tasks and operations

Human resources

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A type of resource that include the production facilities, distribution channels, and information technology systems that enable the execution of strategies

Physical resources

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It isa common techniques used by groups of planners in selecting a common solution for a problem

Brainstorming

This is a highly structured method that allows members to give their own inputs based on an agenda

Nominal group technique

This is a planning technique where planning is not done bu meeting group member s but by distributing written questionnaires

Delphi technique

Excellent tool for weighing different alternatives

Decision tree

Managers use this method in evaluating alternatives in purchasing equipment,furniture, and fixtures

Payback method

Decision model that involves a logical step by step analysis of several possible contributing factors in making the decision

Rational/Logical decision model

A phenomenon wherein a manager may not be able to solve complex problems in a logical manner due to the fact that the human mind has its limits

Bounded rationality

Also known as “rules of thumb”

Decision heuristics

Decision model wherein managers usually rely on their “gut feeling”

Intuitive decision model

Decision model where once a manger decides on a solution, they will no longer look for other alternatives

Predisposed decision model

Refers to the tendency to look at situations based on subjective standards or perspectives

Cognitive bias

This type of error happens when a manager, despite their knowledge of s project’s failure, continues to acquire more resources to pursue the project instead of abandoning it

Escalating commitment

This happens when a manager holds on to their prior belief that a project will succeed even when evidence to the contratry has been provided

Prior hypothesis bias

It is the tendency to make generalizations based on a small sample or simple experience

Representativeness

It refers to the tendency to conclude that the results of onesitustion can be repeated in a similar situation

Reasoning by analogy

It is a type of error that many top level managers commit when they become overconfident regarding their ability to solve problems

Illusion of control

This kind of bias correlates the outcome with how a problem or decision is framed

Framing bias

This error is committed when managers immediately use available resources on a project that us expected to immediately provide profit, rather than holding off and waiting for a later opportunity that will generate even greater profit

Availability error

A decision model that offers a systematic way of evaluating alternatives by implementing a rational process of analyzing aspects of a situation or problem

Kepner-Tregoe matrix model

Decision mode that focuses on selecting the best leadership style suited for planning and decision making

Vroom-Yetton-Jago decision model

Decision model that was brought about by the application of military tactics in business situations

Observe-Orient-Decide-Act (OODA) decision model

It is a social group that has well coordinated processes and activities for the purpose of achieving its objectives and is connected to the environment where it exists

Organization

It is the authority given to managers that are classified and find and it clarifies the line of authority of top level, middle level, and low level management and avoid confusion among employees as to who the immediate superiors are

Hierarchy

What does the organizational design and structure focus on

The overall design of an organizational structure focuses on three aspects: Work activities, reporting relationships, and departmental grouping options.

It identifies the essential tasks and operations of the company, establishes effective work relationships, and divides the company into departments that will contribute toward achieving its goals and objectives

Organizational design

It is the framework that shows how each component of the company relates to one another

Organizational structure

It is a rigid and tightly controlled structure that resembles a bureaucracy

Mechanistic structure

It’s a structure that is more flexible and highly adaptable and it is the centralized and less formal

Organic structure

It refers to the way jobs are divided into steps or individual tasks

Work specialization

Refers to the grouping of similar functions, jobs, and tasks into departments

Departmentalization

A type of the Departmentalization where personal and tasks related to a single company operation are grouped together

Departmentalization may be functional

Type of departmentalization by groups personal and resources based on product, service, process, geographic location, or customer

Divisional departmentalization

It indicates the communication and relationship between employees and managers

Chain of command

It’s the right inherent in the managerial position to give directions or tell people what to do and expect them to undertake it

Authority

Is this the obligation to perform duties assigned to an employee

Responsibility

It refers to the number of employees and managers can effectively and efficiently manage

Span of control

Refers to the extent authority in decision making is given to a small group of people in the organization

Degree of centralization

Occurs when major decisions are made by the top management and the decisions and actions of lower management and employees must have approval from the top

Centralization

It occurs when lower management is allowed to make important decisions, and it is applicable to companies that are widely dispersed in several areas, or with businesses that encounter uncertain business environments

Decentralization

What is the process of standardizing jobs in establishing rules and guidelines that guide employees

Formalization

It is the most basic structure and it is applicable to small businesses were majority of the power and decision making rests on the owner

Simple organizational structure

It organizes the company by grouping together similar functions in two departments

Functional

Where employees follow the chain of command and top managers delegate tasks the lower level managers and employees

Vertical hierarchy

It emphasizes hierarchy and specialization among departments

Functional organizational structure

This design organizes a company in the divisions that corresponds to certain products or services

Divisional grouping

This organizational structure allows employees in each division to concentrate on their own divisions performance

Divisional organizational structure

This design combines both the functional and divisional structures in organizing a company

Multi-focused grouping

It is an example of a Multi-focused grouping design

Matrix structure

It’s a matrix that organizes the company in the way that gives functional managers primary authority

Functional matrix

It’s a matrix that assigns greater authority to the product managers

Product matrix

This structure is often used in larger companies and set up as a grid where employees have dual reporting relationships

Matrix organizational structure

It’s a grouping that illuminates the complexities of hierarchies and division

Horizontal grouping

A structure that promotes flexibility and quick response to changes

Horizontal structure

A team based organizational structure that organizes employees into teams whose members perform various functions

Horizontal design

Organizational design that takes advantage of the latest advances in information and communication technology

Virtual network grouping

This organizational structure hires only a few employees which amounts to a lesser costs for salaries and benefits

Network organizational structure

What does EMDPIM stand for

1.) Entrepreneurial organization 2.) Machine organization 3.) Diversified organization 4.) Professional organization 5.) Innovative organization 6.) Missionary organization

Who expanded the identification of classifications of organizations

Henry Mintzberg

Who propose the Bureaucracy organization theory

Max weber

This organization theory emphasize a formal rigid structure and legitimate authority in organization

Bureaucracy

Who is the proponent of the scientific management organization theory

Frederick Taylor

What did the scientific management and organizational theory help with

This theory made improvements in industrial engineering, particularly with time in patient studies

Who are the proponents of the systems theory

Karl Ludwig von Bertalanffy and Kenneth Boulding

What does the systems theory say

Is emphasizes that a system is a collection of parts that I coordinated in accomplishing a particular goal

This theory recognizes that that was the single best way of managing an organization

Contingency theory

Refers to the allocation of tasks to employees

Simple delegation

Delegation that allow subordinates to do tasks or responsibilities outside of the regular work, enabling them to exercise a certain level of authority be on their position

Delegation of authority

It is the act of making employees accountable for their own actions

Empowerment

Structure of an organization that rests on authority and responsibility

Formal organization

Structure of an organization that is defined as informal and buy the personal relationships established among employees

Informal organization

It is the variation or differences in certain characteristics of things or people

Diversity

Too much rigidity or excessive conformity the rules and regulation that paralyzes decision making an action in the organization

“Red tape”