Shared Flashcard Set

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20 concepts
115.108 Organisations & Management sem 2 exam prep
20
Business
Undergraduate 1
11/03/2014

Additional Business Flashcards

 


 

Cards

Term
Workforce optimisation
Definition

implementing strategies that put the right people in the right jobs in order to make the best use of employee talent and skills. 

i.e. Mitre10 - diff departments

Term
Servant Leadership
Definition

when a leader works to fulfil the employees’ needs and goals as well as achieving the organisation’s mission.

i.e. Google - get "down time" to encourage innovation

Term
Workforce diversity
Definition

hiring people with different qualities or people who belong to various cultural groups.

i.e. international airlines preferhiring people who are bilingual or  multicultural so that customers can relate/connect to staff

Term
Satisfice
Definition

choosing the first alternative that meets the bare minimum of the decision criteria (settling on first option that works).

i.e. an office choosing a paper supplier that fits within their budget

 

Term
General environment
Definition
  • indirectly affecting layer of external enviro
  • includes: political/legal, economic, international, sociocultural, technological and sometimes natural.


Term
Organisational development
Definition
  • improving organisation’s health and effectiveness 
  • done by: environmental changes, internal relationships and problem solving capabilities

i.e. Starbucks uses recycled paper for their coffee cup sleeves

Term
Groupthink
Definition

when members of a group all have the same train of thought just to avoid conflict or disagreement, usually influenced by a dominator/opinion leader.

i.e. the collapse of Swissair - they believed they were so invulnerable they were labelled "the flying bank" but soon after collapsed financially.

 

Term
Virtual team/Global team
Definition

They use computer technology to communicate and collaborate with each other in order to complete projects and achieve common goals

i.e. General Electric (GE) have "centers of excellence" scattered across the world and so can enlist the best expertise from any loccation

Term
Hygiene factors
Definition

involve the presence or absence of job dis-satisfiers i.e. working conditions, pay and company policy

i.e. Steve Jobs used to micromanage Apple when it was just starting out and the company did not do so well. He left for awhile to focus on some other projects and when he came back he removed the dis-satisfier of micromanagement and Apple became one of the top companies in the world.

Term
Organisational culture
Definition

the set of key values, beliefs, attitudes and norms that members of an organisation share.

i.e. Apple corporate culture is built on innovation, but executives push employees hard as they expect nothing less than the best.

 

Term
Expert power
Definition

power that stems from special knowledge, skill or information that leaders possess, specific to the tasks performed

i.e. Project Manager - an expert at solving particularly challenging problems andensures a project stays on track. 

Term
Conceptual skill
Definition

the cognitive ability to see the organisation as a whole and the relationships among its parts.

i.e. a CEO setting the goals and objectives for and organisation for the next five years

Term
Performance appraisal
Definition

the process of observing, evaluating and recording an employee’s performance and then providing feedback to the employee

i.e. at go2call.com (phone service) people are reviewed every two weeks.

the founders of the company were ranked among the 15 '2005 best bosses' due to their practices letting their workers know how they're doing and how to get better

Term
Reinforcement theory
Definition

a motivation theory based on the relationship between given behaviours and their consequences

i.e. the incentive of commision for sales-based workers

Term
Learning organisation
Definition

when everyone In the org is engaged in identifying and solving problems so that the org can continuously experiment, improve and increase capability

i.e. innovative companies such as Google, Apple that always want to move forward and so are less likely to take no for an answer (in repsonse to trying new things)

Term
POLC
Definition

the four management functions

  • planning (defining goals for future organisational performance and deciding on tasks / resources)
  • organising (assigning, grouping, delegating and allocating across the organisation)
  • leading (the use of influence to motivate employees to achieve organisational goals) 
  • controlling (monitoring employees activities, making sure the org is on track to achieving goals and making corrections where necessary). 
Term
Entrepreneurship
Definition

the process of initiating a business venture, organising necessary resources and assuming the associated risks and rewards

i.e. Bill Gates starting Microsoft

Term
Halo effect
Definition

a first impression in which you generate misguided assumptions

i.e. interviews

Term
Task environment
Definition

layer of external enviro that directly influences the org’s operations and performance

includes: customers, competitors, suppliers & labour market

Term
Diversification strategy
Definition

moving into a new line of business

i.e. Apple’s entry into the mobile phone business with the iPhone

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