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Flashcards in Midterm Deck (46):
1

Organizations

-social entities
-goal directed
-deliberately structured activity systems

2

Value Creation Process

transforming the input into a more valuable output to outdo other organizations (ie: Bell vs Apple)

3

Competitive Advantage

an organization excels in one or more of its attributes, and has an edge over competitors

4

Visionary Companies

-adapt to change
-longevity

5

Four Functions of Production

Labor-all the workers in a company who create goods and services
Leadership-how people are managed
Structure-relationship
Strategy-plan made by leaders

6

Specific (Context of Business)

personal to own organization (Customers, unions, competitors)

7

General (Context of Business)

all organizations are affected by:
-Political (influence of the people)
-Economic (interest, minimum wadge)
-Technological (Advances, online)
-Societal
-Competitive (Attracting newcomers, globalization)
-Global

8

Employee's

-employees create value
-sell themselves as being able to help employer achieve their goals
An employee exists when:
-an employment contract exists
-compensation

9

Ethics

Doing the right thing
morality

10

Unethical Behavior

harmful to others

11

End Point Ethics

Focus on outcome
utilitarianism (greater good)
Tangible outcome: profit
Intangible Outcome: happiness

12

Rule Ethics

Focuses on motivation and action
Categorical Imperative:Respect others
based on: social norms, religion

13

Employment Contract

terms and conditions of contract
benefits
expectations
how you will be terminated

14

Independent Contracts

-self employed
-not employees of company (more control, more economic risk, less essential services, less tools)

15

Interns

workers who receive on the job training at workplace
paid or unpaid

16

Standard vs Non-Standard

regular, full time work that can lead to a lifetime career with periodic pay raises, health benefits,ect
vs
vulnerable
less stable, tempory

17

Neoclassical

Adam Smith
-Capitalism
-Supply and Demand
-Invisible Hand (Markets are perfectly competitive)
-Employees know everything, and are motivated by self interest

18

Boundard Rationality

Employees dont know everything

19

Managerial Perspective

-the business and the workers share common perspectives
-managers treat employees well to bolster productivity
-no union or government interference

20

Industrial Pluralist

-power favors employer (Can be flawed)
-unions are required b/c employees don't know

21

Critical Perspective

Interest of employees

22

Collective Bargening

-unions barter for better benefits
Union:strike, boycot, work slowdown
Management: lockouts, strikebreakers

23

2 Big E's of Management

Efficiency: more output, less input (good value creation)
Effectiveness: attainment of goals

24

Authority

Formal: comes from position
Informal: earned through trust and expertise

25

Functions of Managers

Planning, Organizing, Controlling, Leading

26

Roles

Interpersonal: Figurehead, Leader, Liaison
Informational: Monitor, Dissemination, Spokesperson
Decisions: Entrepreneur, Conflict Resolution, Negotiation

27

Scientific Management

Fredrick Taylor
-Efficiency
-Standardization, compartmentalization
-Supervise workers (so they don't slack)
-Compensation based on performance

28

Administrative Management

Henry Fayol
-Team Spirit and harmony
-each employee reports to one boss
-company goals outway individual goals

29

Bureaucratic Management

Max Webber
-fixed rules
-jobs that are easy and defined make efficiency
-more skill=better job

30

Hawthorne Effect

Elton Mayo
-people preform better during research because they like attention

31

Mary Parker Follett

-Co-ordination
-self management
-collaboration

32

Chester Bernard

Organizations are social systems
organizational objectives
authority over subordinates

33

Modern Behavioral Science

Profit with a purpose
motivating employees
establishing trust

34

Contingency Approach

-Mix of classical and behavioral
-take note of organizational size and individual environmental differences

35

Organizational Structure

deliberately planned network of patterns of relationships that make up entity

36

Flat Organization (Decentralization)

-Fast decision making
-horizontal differentiation
-structure based on specialization

CEO
Manager, Manager, Manger

37

Tall Organization (Centralization)

-Traditional
-roles and responsibilities
-top based

A CEO with many managers who manage others

38

Vertical Differentiation

how authority is laid out in organization

39

Horizontal Differentiation

how the organization is organized by speciality

40

4 Elements of Organizational Structure

Work Specialization (Organizing people)
Formalization (Rules)
Span of Control (# of people reporting to supervisor)
Centralization

41

Reengineering

rethinking of organizations function

42

Outsourcing

taking a non-essential function and selling it to a secondary business

43

Virtual Organization

significant savings
lack of loyalty and control

44

Downsizing

a planned reduction of the organization

45

Factors that Affect Ethical Behaviour

Corporate Culture (shared belief of company)
Decoupling (Habitual routines, that might not be right)
Organizational Identity
Roles

46

Corporate Social Responsibility

Measures if your company is ethical, philosophical, viable, legal