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  • L 1

    Globalization


    Worldwider interdepance of resources, markets, and competition

  • L 1

    Open Systems


    • Interact wit their enviorment

    • Transform resource inputs in to product outputs

    • Enviormental feedback tells organization how well its meeting the needs of the consumers

  • L 1

    Value Creation


    When resources are made into something more valueable

  • L 1

    Effectivness


    Output. Task or goal accomplsishment

    • Did we hit the goal?

  • L 1

    Efficiency


    Input. Resource cost of reaching goal

    • How cheaply did we do it?

  • L 1

    Producitivty


    Quantity and quality of work, with resources considerd

    • Both together

  • L 1

    Top Managers


    Responsbile for a compnay as a whole

  • L 1

    Middle Managers


    Responsible for a relativly large department

  • L 1

    Project Managers


    In charge of projects with deadlines

  • L 1

    Team Leaders


    In charge of small non managerial workers

  • L 1

    Line Managers


    Work that direclty affects the product output

  • L 1

    Staff Manager


    uses technical expertise to help line workers

  • L 1

    Functional Manager


    In charge of one area

  • L 1

    General Manager


    In chare for many complex units

  • L 1

    Administrators


    Work in public or non profit organizations

  • L 1

    Accountability


    Answering to a higher authority for performance results

  • L 1

    Quality of Work Life


    Overall quality of human experiences in the workplace

  • L 1

    Upside Down Triangle


    Managers job is to support workers efforts

  • L 1

    Managment Process


    Planning: setting objectives and figuring out how to accomplish them

    Organizaing: Assighning tasks, allocate resurces, and coordinate activites

    Leading: Arosuing workers enthusiam to work

    Controlling: Meausre performance, compare it to objectives, take corrective actions

  • L 1

    Interperosnal Roles


    Interactions with people inside and out the workplace

  • L 1

    Informational Roles


    Giving, Recieving, and analyzinf info

  • L 1

    Decisonal Roles


    Using info to make decisons to solve problems

  • L 1

    Technical Skills


    Special expertise for particular tasks

  • L 1

    Human Skills


    Working well with others

  • L 1

    Conceptual Skills


    Thinking crtically and analyitcally

  • L 1

    Managerial Competency


    Having a transfersble skill that can be used in the workplace resulting in better performace

  • L 2

    Data


    • Raw facts

    • May not have any meaning itself

  • L 2

    Information


    • Data available for decision making

    • Organized and used

  • L 2

    Performance Deficiency


    Actual performace is below then desired performace

  • L 2

    Performance Oppurtunity


    Actual performance is better then desired perfromace

  • L 2

    Problem Solving


    Finding the gap between desied and actual performance

  • L 2

    Programmed Decisions


    Routine, repetitive decisons

  • L 2

    Non Programmed Decisons


    New, Unusual or complex decisons that require judgment

  • L 2

    Crisis Decisison


    Making decisons in urgent, high pressure scenarios

  • L 2

    Certain Enviorment


    The decison maker knows the outcome of choices

  • L 2

    Risk Enviorment


    Possible outcomes and their probabilites can be estimated

  • L 2

    Un Certain Enviorment


    Outcomes and probabiites cannot be found

  • L 2

    Problem Avoiders


    Ignore all signals to problems or oppurtunites

  • L 2

    Problem Solver


    Solve problems when they occur

  • L 2

    Problem Seekers


    People who constantly look for problems to solve

  • L 2

    Systematic Thinking


    Uses structured analysis, logic and info

  • L 2

    Intuitive Thinking


    Relies on experience, instinct, and judgment

  • L 2

    Decision Making Process


    • Identify and define the problem

    • Generate and evaluate possible solutions

    • Choose course of action

    • Implement the decison

    • Evaluate results

  • L 2

    Availibilty Heuristic


    Judging something based on examples that easily come to mind

  • L 2

    Representativness Heuristic


    Judging somthing based on how closly it resembles a familiar category

  • L 2

    Anchoring and Adjustment Heuristic


    Decison making based on incremental adjustments from a previous decision point

  • L 2

    Escalating Commitment


    The continuation of a course of action even though its not working

  • L 2

    Ethical Decisons should follow:


    • Utility

    • Rights

    • Justice

    • Caring

  • L 3/4

    Market Entry Strats:

    Global Sourcing


    Obtaining resources from suppliers globally

  • L 3/4

    Exporting


    Selling local goods to foriegn markets

  • L 3/4

    Importing


    Buying goods from a foriegn market

  • L 3/4

    Licensing


    The payment by a local firm to a foriegn firm for rights to make or sell products

  • L 3/4

    Franchising


    The payment to a foriegn business for rights to locally operate their business with name and branding

  • L 3/4

    Joint venture


    Co Ownership which foriegn and local partners pool resources, share risks, and jintly operate

  • L 3/4

    Foriegn Subsidary


    A local operation owned by a foriegn firm

  • L 3/4

    Sustainable Development


    meeting current needs without compromising future needs

  • L 3/4

    Ethnocentrism


    Beleiving ones culture is better then others

  • L 3/4

    Low Context Culture


    Cultures that emphasize communication via spoken words

  • L 3/4

    High Context Culture


    Cultures that emphasize non verbal communication via writing

  • L 3/4

    Monochromic Culture


    Cultures in whic people do one thing at once

  • L 3/4

    Polychronic Culture


    Cultures in which people do mulitple things at once

  • L 3/4

    Values and National Cultures - Hofstede

    Power Distance


    The degree to which a society accepts unequal distributin of power

  • L 3/4

    Uncertainity Avoidance


    The degree to which a society tolerates risk and uncertainty

  • L 3/4

    Individualism - Collectivism


    The degree to wich a society values people and their intersts

  • L 3/4

    Masculinity - Femininity


    The degree to which a society values are assertivness and materialsm vs. feelings and quality of life

  • L 3/4

    Time Orientation


    The degree ot which a scoeity values short term vs long term goals

  • L 3/4

    Trompenears Cultural Dimensions

    Universalism vs. Particularism


    General rules vs relationships and the specifc situations

  • L 3/4

    Individualism vs. Collectivism


    Perosnal independace vs. group interests

  • L 3/4

    Neutral vs. Affective


    Restrained vs. Openely opinionated

  • L 3/4

    Specific vs. Diffuse


    Keeping work relationships seperate from private life vs. them overlapping

  • L 3/4

    Achievement vs. Prescription


    Status based on accomplisments vs. status based on position

  • L 3/4

    Sequential vs. Synchronic


    One task at a time vs. multiple tasks at once

  • L 3/4

    Inner Directed vs. Outer Directed


    Believes in controlling the enviorment vs. adapting to it

  • L 3/4

    Ethnocentric


    Believes that home countrys pracitces are best

  • L 3/4

    Polycentric


    Believes that local practices are best suited for local operations

  • L 3/4

    Geocentric


    Tries to find the best practices around the world

  • L 5

    Classical Approaches

    Scientifc Managment - Fredrick Taylor


    • Develop work methods and proper working conditions

    • Select workers best fit for the job

    • Train workers properlly

    • Plan work carfully and remove obstacles

  • L 5

    Scientifc Managment enhanced by the Gilberths


    Motion study, eliminating wasted motions to imprve performace

  • L 5

    Administrative Principles


    • forecasting

    • planning

    • organizing

    • commanding

    • coordinating

    • controlling

  • L 5

    Administrative Principles

    Scalar Chain


    Clear line of authority from highest to lowest

  • L 5

    Administrative Principles

    Unity of Command


    Each employee should recieve orfers from someone above

  • L 5

    Administrative Principles

    Unity of Direction


    Activites with the same objective should have the same plan

  • L 5

    Bureaucratic organization - Max Webber


    An ideal, rational, very efficient. Based on principles of logic and authority

    Charecteristic:

    • Clear division of work

    • Clear hiearchy of authority

    • Formal rules and procedures

  • L 5

    Human Resource Approaches

    Hawthorne Studies


    People imprve their work output when they seem seen or being involved

  • L 5

    Maslows Hiearchy of Needs


    • Self actualization (need for self fulfillment, to grow and use abilities to the fullest and creative extent)

    • Esteem (need for esteem in the eyes of others, need for respect, prestige)

    • Social (a sense of belonginess, love)

    • Safety (Security, protection, stability)

    • Physiological (basic needs: food)

  • L 5

    Maslows Hiearchy of Needs

    Deficit Principle


    When a satisified need is no longer a motivator

  • L 5

    Maslows Hiearchy of Needs

    Progression Principle


    A need becomes a motivator once all the lower levels are met

  • L 5

    McGregors X and Y


    X: Workers dont want tok work, lack ambition, prefer to be led

    Y: Workers are eager to work, responsible, are self directed

  • L 5

    Argyris theory of Adult Personality


    Give employees meaningful responsibilites and oppurtunites to grow

  • L 5

    System


    Collection of interrelated parts working together for a common purpose

  • L 5

    Subsystem


    smaller part of a large system

  • L 5

    Contingency Thinking


    Identify and implement practices that best fit with the unique demand

  • L 6

    Planning Process


    • Define your objectives

    • Determine where you stand related to objectives

    • Develop premise regarding future conditions

    • Analyze and choose among action alternatives

    • Implement the plan and evaluate results

  • L 6

    Short range Plans

    Intermediate

    Long


    1 year or less

    1 to 2 years

    3 or more years

  • L 6

    Strategic Plans


    set broad, comprehensive, and longer-term directions for organization

  • L 6

    Operational Plans


     Define whats needs to be done in specific areas to implement strategic plans

  • L 6

    Standing Plans


     Polices and procedures that are designed for repeated use

  • L 6

    Single use plans


    used once to solve a unique situation

  • L 6

    Budgets


    single use plans that allocate resources to projects

  • L 6

    Projects


    one time activities with clear start and end

  • L 6

    Forecasting


     making assumptions of the future

  • L 6

    Qualitative


     uses experts opinions

  • L 6

    Quantitative


    uses mathematical and statistical judgment

  • L 6

    Contingency planning


    find different courses of action that can be used in changing circumstances

  • L 6

    Scenario planning


    A longer version of contingency planning. It finds future scenarios

  • Benchmarking


    use of other companies stats to evaluate own company stats