Term
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Definition
POLC:
Planning: setting goals and deciding how to acheive them.
Organizing: arranging tasks, people, and other resources to accomplish the work.
Leading: motivating, directing, and influencing people to work hard to achieve the organization's goals.
Controlling: monitoring performance, comparing it with goals, and taking corrective action as needed. |
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Definition
| The pursuit of organizational goals efficiently and effectively. Achieving a specific purpose. |
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Term
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Definition
Top Managers:long-term decisions about direction of organization.
Middle Managers: implement long-term decisions of top managers while supervising and coordinating activities of first line managers.
First-line Managers: short-term decisions and direct tasks of nonmanagerial personnel. |
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Term
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Definition
Interpersonal Roles: figurehead, leader, liaison.
Informational Roles: monitor, disseminator, spokesperson; receive and communicate information.
Decisional Roles: entrepreneur, disturbance handler, resource allocator, negotiator. |
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Term
| Skills or Characteristics of Managers |
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Definition
Conceptual Skills: thinking analytically, visualize organization as a whole and understand how the parts work together.
Technical Skills: job-specific knowledge needed to perform well in a specialized field.
Human Skills: work well in cooperation with other people to get things done. |
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Term
| How did the Industrial Revolution come about? |
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Definition
| In the words of Nobel Prize winner Robert E. Lucas, Jr., "For the first time in history, the living standards of the masses of ordinary people have begun to undergo sustained growth ... Nothing remotely like this economic behavior has happened before." Because of the advances in technology and business, an economic boom. |
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Term
| What is scientific management? |
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Definition
| Taylor and Frank and Lillian Gilbreth were proponents of this classical viewpoint, which emphasizes the scientific study of work methods to improve the productivity of individual workers. |
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Term
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Definition
| A better organization should have 5 positive bureaucratic features: 1) well-defined hierarchy of authority 2) formal rules and procedures 3) clear division of labor, complexity handled by specialists 4) impersonality, without reference or connection to a particular person 5) careers based on merit. Weber wanted businesses to function and promote based on the merit of their workers, not their social status. |
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Term
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Definition
| Systematized management behavior, 14 principles: division of work, authority, discipline, unity of command, unity of direction, subordination of individual interests to general interests, remuneration, centralization, scalar chain, order, equity, stability of tenure of personnel, initiative, espirit de corps. |
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Term
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Definition
| Does lighting level effect worker productivity? Yes, says Mayo, but later his studies came into question. But still, managers using good human relations can definitely improve worker productivity. |
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Term
| What does the general environment consist of? |
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Definition
| General environment: macroenvironment; not in your control; economic (unemployment, inflation, interest rate, GDP, income per capita), technological, sociocultural (norms, ex. face-to-face interaction diminishing), demographics, political-legal, international environments. |
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Term
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Definition
| Task Environment: daily; customers, competitors, suppliers, distributors, strategic allies, employee organizations, local communities, financial institutions, government regulators, special-interest groups, and mass media. |
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Term
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Definition
Internal: owners, employees, Board of Directors
External: includes task and general environments |
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Term
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Definition
A psychologist who came up with a 3 part theory:
Level 1: preconventional-you follow rules and obey, respect authority and are expected to be obedient.
Level 2: conventional-you follow expectations of others not a singular boss, group-oriented, cooperation; manager's expectations are for team rather than individual.
Level 3: postconventional-you've grown out of other levels and developed your own standards of right and wrong; managers try to empower you and other employees. |
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Term
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Definition
Ethnocentric: native country's behavior is superior to everyone else.
Polycentric: believe people in other countries know best about their own country.
Geocentric: get the best talent, regardless of background. |
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Term
| Types of Global Companies |
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Definition
Multiglobal Corporation: decision making centralized in only one country.
Transnational Corporation: decision making farmed out to people in various countries. |
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Term
| How do you go about globalizing? |
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Definition
| Outsourcing, exporting, importing, licensing (manufacturing), franchising (services), joint ventures, strategic alliances, and adding a wholly owned subsidiary in another country. |
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Term
| Why globalize and where to globalize? |
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Definition
| Access to new markets, access to other country's resources, lower labor costs, access to finances/capital, localization of industry, avoidance of tariffs/quotas, rejuvenation of product life cycle. |
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Term
| What are the challenges to setting up foreign operations with expats? |
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Definition
| Cultural differences and adjusting with their immediate family. |
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Term
| What are the barriers to international trade? |
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Definition
| Tariffs, quotas, embargoes. |
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Term
| Who was Taylor? What were some of the principles he created? |
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Definition
| The scientific management guru, concerned mainly with the jobs of individuals. Taylor came up with this system through his motion studies, where he broke down the elements of a certain job further into the physical motions each worker was doing to complete the job. Taylor also believed more efficient workers should earn higher wages. |
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