Shared Flashcard Set

Details

Mngt 320
Test 2
62
Business
Undergraduate 4
03/14/2010

Additional Business Flashcards

 


 

Cards

Term
planning
Definition
coping with uncertainty by formulating courses of action to achieve specified results
Term
state uncertainty
Definition
environment is unpredictable
Term
effect uncertainty
Definition
impacts of environmental changes are unpredictable
Term
response uncertainty
Definition
consequences of decisions are unpredictable
Term
plan
Definition
an objective plus an action statement
Term
strategic planning
Definition
determining how to pursue long-term goals with available resources
Term
intermediate planning
Definition
determining what contributions subunits can make with allocated resources
Term
operational planning
Definition
determining how to accomplish specific tasks with available resources
Term
objective
Definition
committed to achieve a measurable result within a specific period
Term
priorities
Definition
goals, objectives, or activities ranked in order of importance
Term
80/20 principle
Definition
a minority of causes, inputs, or efforts that tends to produce a majority of results, outputs, or rewards
Term
management by objectives (MBO)
Definition
comprehensive management system based on measurable and participatively set objectives
Term
project
Definition
a temporary endeavor undertaken to achieve a particular aim
Term
gnatt chart
Definition
graphical scheduling technique
Term
Program Evaluation and Review Technique (PERT)
Definition
graphical sequencing and scheduling tool for complex projects
Term
PERT event
Definition
performance milestone; start or finish of an activity
Term
PERT activity
Definition
work in process
Term
PERT times
Definition
weighted time estimates for completion of PERT activities
Term
critical path
Definition
most time-consuming route through a PERT network
Term
break-even point
Definition
level of sales at which there is no loss or profit
Term
fixed costs
Definition
contractual costs that must be paid regardless of output or sales
Term
variable costs
Definition
costs that vary directly with production and sales
Term
contribution margin
Definition
selling price per unit minus variable costs per unit
Term
international management
Definition
pursuing organizational objectives in international and cross-cultural settings
Term
global company
Definition
a multinational venture centrally managed from a specific country
Term
transnational company
Definition
a futuristic model of a global, decentralized network with no distinct national identity
Term
cultural intelligence (CQ)
Definition
ability to interpret and act in appropriate ways in unfamiliar cultural surroundings
Term
ethnocentric attitude
Definition
view that the home country's personnel and ways of doing things are best
Term
polycentric attitude
Definition
view that local managers in host countries know best how to run their own operations
Term
geocentric attitude
Definition
world-oriented view that draws on the best talent from around the globe
Term
culture
Definition
a population's taken-for-granted assumptions, values, beliefs, and symbols that foster patterned behavior
Term
high-context cultures
Definition
cultures in which nonverbal and situational messages convey primary meaning
Term
low-context cultures
Definition
cultures in which words convey primary meaning
Term
individualistic cultures
Definition
cultures that emphasize individual rights, roles, and achievements
Term
collectivist cultures
Definition
cultures that emphasize duty and loyalty to collect goals and achievements
Term
monochronic time
Definition
a perception of time as a straight line broken into standard units
Term
polychronic time
Definition
a perception of time as a flexible, elastic, and multi-dimensional
Term
comparative management
Definition
study of how organizational behavior and management practices differ across cultures
Term
culture shock
Definition
negative feelings triggered by a mismatch between expectations and reality
Term
cross-cultural training
Definition
guided experience that helps people live and work successfully in foreign cultures
Term
decision making
Definition
identifying and choosing among alternative courses of action
Term
law of unintended consequences
Definition
results of purposeful actions are often difficulty to predict
Term
condition of certainty
Definition
solid factual basis allows accurate prediction of decision's outcome
Term
condition of risk
Definition
decision made on basis of incomplete but reliable information
Term
objective probabilities
Definition
odds derived mathematically from reliable data
Term
subjective probabilities
Definition
odds based on judgement
Term
condition of uncertainty
Definition
no reliable factual information available
Term
faming error
Definition
how information is presented influences one's interpretation of it
Term
escalation of commitment
Definition
people get locked into losing courses of action to avoid the embarrassment of quitting or admitting error
Term
programmed decisions
Definition
repetitive and routine decisions
Term
decision rule
Definition
tells when and how programmed decisions should be made
Term
nonprogrammed decisions
Definition
decisions made in complex and non-routine situations
Term
knowledge management
Definition
developing a system to improve the creation and sharing of knowledge critical for decision making
Term
tacit knowledge
Definition
personal intuitive, and undocumented information
Term
explicit knowledge
Definition
documented and sharable information
Term
collaborative computing
Definition
teaming up to make decisions via a computer network programmed with groupware
Term
problem solving
Definition
conscious process of closing the gap between actual and desired situations
Term
problem
Definition
the difference between an actual and desired state of affairs
Term
causes
Definition
variable responsible for the difference between actual and desired conditions
Term
satisfice
Definition
to settle for a solution that is good enough
Term
optimize
Definition
to systematically identify the solution with the best combination of benefits
Term
idealize
Definition
to change the nature of the situation in which a problem has arisen
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