Shared Flashcard Set

Details

AP ADMS 1000 (YorkU)
Midterm Review
50
Business
Undergraduate 1
02/01/2016

Additional Business Flashcards

 


 

Cards

Term
What are the (4) internal and (6) external forces that influence organizations?
Definition

Internal: Labour, Leadership, Structure, Strategy

External: Economic, Global, Political, Societal, Technological and Competitive forces

Term
Competitive Advantage
Definition
One company excels in one attribute and outperforms competitors
Term
Taxation, low income tax benefits (3)
Definition
Long term economic growth, Improved competitiveness, Increased wages and living standards
Term
Factors that make an Employee (4)
Definition

Degree of control (Usually routinized and specific hours assigned) 

Degree of economic risk (Paid wages and is safer compared to contractor)

Degree to which the worker performs an essential service (Peripheral tasks are usually done by contractors)

Degree to which organization provides tools (Contractors provide their own tools, employees get them from org.)

Term
Standard Employment Relationship (SER)
Definition
Employment relationship characterized by regular, full time hrs at one employer for most of their career, benefits provided.
Term
Nonstandard Employment (NSE)
Definition
Less stable employment, part time and temp work, lower pay and fewer benefits and no unions
Term
Neoclassical Perspective
Definition
Competitive markets are best left alone, demand and supply will distribute wealth fairly. Limited government interference is required.
Term
Managerial Perspective
Definition
Employees and employers want to maximize profits. Employment standards and regulations should be kept to a minimum, employers will treat employees well and they will work hard, both will follow self interest. Flexible and low government regulation required.
Term
Industrial Pluralist Perspective
Definition
Emphasizes power imbalance between workers and employers. Need to make a balance between efficiency and equity. Unions and Collective Bargaining is encouraged. Supports government regulations.
Term
Bounded Rationality
Definition

Not making decisions to maximize personal interests due to lack of info or not being able to asses the info they have.

 

Involves only satisfying needs and does not optimize

Term
Critical Perspective
Definition
Workers and Employers are always in conflict. Labour is disadvantaged due to more workers then jobs. Employment regulation and collective bargaining isn't that great. Building class conciousness is important.
Term
Laws made to protect rights of workers (4)
Definition

Canadian Charter of Rights and Freedom

Human Rights Laws

Employment Equity Legislation

Employment Equity Act

Term
Henry Mintzberg's Management Roles (3) and sub roles (3)/(3)/(4)
Definition

Interpersonal Roles - Figurehead, Leader and Liaison

Informational Roles - Monitor, Disseminator, Spokesperson

Decisional Roles - Entrepreneur, Disturbance Handler, Resource Allocator, Negotiator

 

 

 

 

Term
Classical Approaches to Management (3)
Definition
Scientific Management, Administrative Management, Bureaucratic Management
Term
Scientific Management
Definition
Made by Taylor, maximizes prosperity for employer and employee by promoting standardized (having clear rules regarding how to perform a job) and compartmentalizing (breaking the job down to its fundamental steps) work. Work is very routinized. Uses a piece-rate system which means you get paid for the amount of work done
Term
Administrative Management
Definition
Made by Henri Fayol, focuses on the principles of division of work, unity of command, team spirit (harmony) and subordination of employee's interests to the common good.
Term
Bureaucratic Management
Definition
Made by Max Weber, focuses on regulations, hierarchy of authority, division of labour, impersonality (professional behaviour) and selection and promotion (no favoritism when hiring or promoting).
Term
The Human Relations Movement - The Hawthorne Effect
Definition
Developed by Elton Mayo, the effect states that worker's productivity increases if they are given special attention. Improving working conditions doesn't have as much effect comparitively.
Term
Mary Parker Follet
Definition
Emphasized self-management (employees making decisions on their own since they know how to get the job done) and she also emphasized coordination (harmonizing worker activities to maximize productivity, managers also need to be involved in conduct of work)
Term
Chester Barnard
Definition
Emphasized two critical functions, 1) maintain communication with employees and 2) establish organization goals and motivate employees to achieve them. He believes that workers should follow order if they, 1) understand what is required, 2) they see how the work relates to organization goals and 3) they believe they will gain benefit
Term
Contingency Approach to Management
Definition
Acknowledgement that there is no best way to management and that different situations require different approaches and techniques. Consider the organization size, environmental uncertainty (should be prepared for change depending on the environment), routineness of task technology (some jobs should have routine, some should not), and individual differences (some work better with rules, some don't).
Term
Flat Organization
Definition
Organizations with less hierarchies, the structure is delayered meaning there is a wider span of control. Delayering involves downsizing
Term
Fluid Organizations
Definition
Has very few rules and is very fluid in flexible in terms of approach
Term
Integrated Organizations
Definition
Emphasizes cross-functional teams (teams made up between different departments), self-managing work teams (teams that manage themselves without formal management) and information sharing (workers sharing knowledge in order to help reach organization goals)
Term
Organization definition facts (4)
Definition
They are social entities, they interact with the environment, they are created to achieve goals and they posses some sort of structure
Term
The Machine Organization Metaphor
Definition
Functions in a orderly, prescribed, rational and controlled manner. They have specific goals, structure and technology.
Term
The Organic Organization Metaphor
Definition
System of mutually connected and dependant parts that share common life. Treats organizations as social systems and sustains human motivation, very open-system approach.
Term
Organizations as Systems - Open and Closed
Definition

Open Systems - Entities that are embedded in and dependant on exchanges with environment within which they operate. They are viewed as social systems.

Closed Systems - Entities viewed as being completely self-sufficient and requiring no contact with the environment, hard to find this kind of system.

Term
Work Specialization
Definition
Division of labour between employees, two types of specialization, Functional and Social. Functional is dividing jobs into small components so that workers perform simple repetitive tasks. Social is specialization of individuals, no routines. Emphasizes Horizontal Differentiation.
Term
Influences on design of organization structure (4)
Definition
Strategy, Organization size, Technology and Environment
Term
Contigency Theory and the importance of the environment
Definition
Philosophy in systems theory (a natural outgrowth of systems theory, which recognizes that all organizations are open systems that need to interact with the environment). A philosophy is that there is no ideal way to organize and organization
Term
Virtual Organization Relies On (3)
Definition

An organization that relies on

1) outsourcing,

2) networking and

3) shedding noncore functions.

 

Attempts to maximize fluidity, flatness and integration with environment

Term
Benefits of a Virtual Organization (4)
Definition
1) Cost savings are significant, 2) Good for entrepreneurs, 3) Fast way to develop and market new products, 4) Fast and flexible
Term
Risks of Virtual Organizations (3)
Definition
1) No control, 2) No employee loyalty, 3) No competitive learning oppourtunities
Term
Workforce Reduction
Definition
A short term strategy that is aimed at reducing employees through attrition, early retirement, voluntary severance package, layoffs or terminations
Term
Methods of Downsizing (5)
Definition
1) Cutting fixed percentage of workers from all departments, 2) Early retirement or voluntary severance, 3) Delayering by cutting levels of organization, 4) Outsourcing, 5) Dropping product lines
Term
Why Does Downsizing Fail? (3)
Definition
1) No strategic planning, 2) No concern for employees, 3) Careless removal of corporate memory (knowledgable employees)
Term
Institutionalization theory
Definition
Organizations are driven to incorporate practices defined by current concepts of work and those accepted by society
Term
Constraining Forces
Definition
Practices that come to define what are perceived as legitimate management structures, places pressure on organizations to follow suit
Term
Cloning Forces
Definition
Pressure on organizations to imitate behaviour of industry leaders "jump on the bandwagon"
Term
Learning Forces
Definition
Lessons that result from instituionalized management and are taught to future managers and business leaders in formal education
Term
Five-forces model threats (5)
Definition
Developed by Michael Porter, allows for systematic assessment of industry environment. Threats include 1) new entrants, 2) the bargaining power of suppliers, 3) the bargaining power of buyers, 4) the threat of substitutes, 5) rivalry among existing firms
Term
Sources of entry barriers (5)
Definition
Economies of scale (spreading the costs of production over number of units produced), Capital requirements, Switching costs (Costs from switching to different suppliers), Access to distribution channels, Cost disadvantages independant of scale (not economic related, can be government policies, patents or trademarks)
Term
Factors that affect bargaining power of suppliers (2)
Definition
How important are the goods to the buyer and how many suppliers are there relative to the number of buyers?
Term
Factors affecting bargaining power of buyers (4)
Definition
1) Switching costs (as switching costs decrease, bargaining power increases), 2) Undifferentiated products, 3) Importance of products, 4) Number of sellers compared to number of buyers
Term
Factors that affect rivalry among firms (3)
Definition
1) No differentiation or no switching costs, 2) Equally balanced competition, 3) High exit barriers (ex// Visible fixed costs, specialized assets, gov. and social pressure)
Term
VRIO Model
Definition
Model that examines an individual firm's value, rareness, imitability and organization to determine its strengths compared to other firms
Term
Resources and Capabilities (4)
Definition
Financial resources, Phyical resources, Human resources, Organizational resources
Term
SWOT Analysis
Definition
Analysis of the strengths and weaknesses of an organization, as well as oppourtunities and threats it is exposed to
Term
Elements of Organizational Structure (4)
Definition

1) Work Specialization (Functional vs Social)

2) Span of control

3) Centralization

4) Formalization

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