Download MAN 3025 Chapter 1-5 with 153 correct Solutions. and more Exams Introduction to Business Management in PDF only on Docsity!
Solutions.
MAN 3025 Chapter 1- 5 with 153 correct
Solutions.
Management - ANSWER-attainment of organizational goals in an effective and efficient manner throughout planning, organizing, leading, and controlling organizational resources
Four Management Functions - ANSWER--planning
-organizing
-leading
-controlling
Planning - ANSWER-management function concerned with defining goals for future performance and how to attain them
Organizing - ANSWER-assigning task, grouping tasks into department, and allocating resources
Leading - ANSWER-using influence to motivate employees to achieve the organization's goals
Controlling - ANSWER-monitoring employees' activities, keeping the organization on track toward meeting its goals and making corrections as necessary
Organization - ANSWER-social entity that is goal directed and deliberately structured
Efficiency - ANSWER-amount of resources used to produce a desired volume of output
Effectiveness - ANSWER-Degree to which the organization achieves a stated goal
Solutions.
Performance - ANSWER-organization's ability to attain its goals by using resources in an efficient and effective manner
Conceptual Skills - ANSWER-ability to see the organization as a whole and the relationship among its parts
Human Skill - ANSWER-ability to work with and through other people and to work effectively as part of a group
Technical skill - ANSWER-Understand and proficiency in the performance of specific tasks
Top Manager - ANSWER-one who is at the apex of the organizational hierarchy and is responsible for the entire organization
Top Manager Examples - ANSWER--CEO
-VP
Middle Managers - ANSWER-work at the middle level of the organization and are responsible for major divisions or departments
Middle Manager Examples - ANSWER--department head
-directer of research lab
First Line Managers - ANSWER-managers who are at the first or second level of the hierarchy and are directly responsible for overseeing groups of production employees
First Line Manager Examples - ANSWER--supervisor
-line manager
-office manager
Solutions.
Father of Scientific Management - ANSWER-Frederick Winslow Traylor
Bureaucratic Organizations Approach - ANSWER-emphasizes management on an impersonal, rational basis through elements such as clearly defined authority and responsibility
Father of Bureaucratic Organizations Approach - ANSWER-Max Weber
Administrative Principles Approach - ANSWER-focuses on the total organization rather than the individual worker and delineates the management functions
Father of Administrative Principles Approach - ANSWER-Henri Fayol
Humanistic Perspective - ANSWER-emphasized understanding human behavior, needs, and attitudes in the workplace
Father of Humanistic Perspective - ANSWER-Mary Parker Follet
Chester Barnard
Human Relations Movement - ANSWER-Stresses the satisfaction of employees' basic needs as the key to increased productivity
Hawthorne Studies - ANSWER-important in shaping the ideas concerning how managers should treat workers
-People work better when watched
Human Resources Perspective - ANSWER-jobs should be designed to meet people's higher level needs by allowing employees to use their full potential
Behavioral Sciences Approach - ANSWER-draws from psychology, sociology, and other social sciences to develop theories about human behavior and interaction in an organizational setting
Solutions.
Management Science (quantitative perspective) - ANSWER-Uses mathematics, statistical techniques, and computer technology to facilitate management decision making, particularly for complex problems
Quants - ANSWER-dominate decision making in financial firms using math and computer technologies
System - ANSWER-set of interrelated parts that function as a whole to achieve a common purpose
-organization is a system
Systems Thinking - ANSWER-looking not just at discrete parts of an organizational situation, but also at the continually changing interactions among the parts
Subsystems - ANSWER-parts of a system that depend on one another for their functioning
Synergy - ANSWER-whole is greater than the sum of its parts
Contingency View - ANSWER-tells managers that what works in one organizational situation might not work in others
Total Quality Management - ANSWER-Focuses on managing the total organization to deliver quality to customer
-employee involvement
-focus on the customer
-benchmarking
-continuous improvements
Social Media Programs - ANSWER-online community pages, social media sites such as Facebook
Solutions.
Internal Environment - ANSWER-elements within the organization's boundaries
-employees
-management
-corporate culture
International Dimension - ANSWER-External environment represents events originating in foreign countries
Technological Dimension - ANSWER-general environment includes scientific and technological advances in society
Sociocultural Dimension - ANSWER-demographic characteristics, norms, customs, and values of a population within which the organization operates
Economic Dimension - ANSWER-represents the general economic health of the country or region in which the organization operates
Legal-Political Dimension - ANSWER-government regulations at the local, star, and federal levels, as well as political activities designed to influence company behavior
Natural Dimension - ANSWER-all elements that occur naturally on Earth, including plants, animals, rocks, and natural resources such as air, water, and climate
Customers - ANSWER-people and organizations that acquire goods or services from the organization
Competitors - ANSWER-Organizations within the same industry or type of business that vie for the same set of customers
Suppliers - ANSWER-provide the raw materials the organization uses to produce its output
Solutions.
Labor Market - ANSWER-represents the people available for hire by the organization
Strategic Issues - ANSWER-events and forces that alter an organization's ability to achieve its goals
Boundary Spanning Roles - ANSWER-link to and coordinate the organization with key elements in the external environment
Interorganizational Partnerships - ANSWER-reduce boundaries and increase collaboration with other organizations
Merger - ANSWER-occurs when tow or more organizations combine to become one
Joint Venture - ANSWER-Strategic alliance or program by two or more organizations
Culture - ANSWER-set of key values, beliefs, understanding, and norms shared by members of an organization
Symbol - ANSWER-object, act, or event that conveys meaning to others
Story - ANSWER-narrative based on true events and is repeated frequently and shared among organizational employees
Hero - ANSWER-figure who exemplifies the deeds, character, and attributes of a strong culture
Slogan - ANSWER-expresses a key corporate value
-Disney World " happiest place on earth"
Ceremonies - ANSWER-planned activities at special events, to reinforce company values
Solutions.
Global Outsourcing - ANSWER-Offshoring; engaging in the international division of labor to obtain the cheapest sources of labor and supplies, regardless of the country
Market Entry Strategies - ANSWER-various tactics that managers use to enter foreign markets
Exporting - ANSWER-market entry strategy in which a company maintains production facilities within its home country and transfers products for sale in foreign countries
Licensing - ANSWER-company in one country makes certain resources available to companies in other countries to participate in the production and sale of its products abroad
Franchising - ANSWER-form of licensing in which a company provides its foreign franchises with a complete package of materials and services
Direct Investing - ANSWER-market entry strategy in which the organization is directly involved in managing its production facilities in a foreign country
Wholly Owned Foreign Affiliate - ANSWER-foreign subsidiary over which an organization has complete control
Greenfield Venture - ANSWER-company builds a subsidiary from scratch in a foreign country
International Management - ANSWER-managing business operations in more than one country
Economic Development - ANSWER-either developed countries of less developed countries
Infrastructure - ANSWER-country's physical facilities such as highways, utilities, and airports
Political Risk - ANSWER-company's risk of loss of assets earning power, or managerial control due to politically based events of actions by host governments
Solutions.
Political Instability - ANSWER-events such as riots, revolutions, or government upheavals that can affect the operation of a international company
Ethnocentrism - ANSWER-natural tendency among people to regard their own culture as superior to others
Polycentric - ANSWER-oriented toward the markets of individual foreign host countries
Geocentric - ANSWER-world oriented and favor no country
Power Distance - ANSWER-degree to which people accept inequality in power among institutions, organizations, and people
Uncertainty Avoidance - ANSWER-people's intolerance for uncertainty and ambiguity and resulting support for beliefs that promise certainty and conformity
Individualism - ANSWER-preference for a loosely knit social framework in which individuals are expected to take care of themselves
Collectivism - ANSWER-preference for a tightly knit social framework in which individuals look after one another and organizations protect their members' interests
Masculinity - ANSWER-cultural preference for achievement, heroism, assertiveness, work centrality, and material success
Femininity - ANSWER-cultural preference for relationships, cooperation, group decision making, and quality of life
Solutions.
Compensatory Justice - ANSWER-individuals should be compensated fort he cost of their injuries by the path responsible and individuals should not be held responsible for matters over which they have no control
Practical Approach - ANSWER-bases decisions on prevailing standards of the profession and the larger society, taking the interests of all stakeholders into account
Corporate Social Responsibility - ANSWER-obligation of organizational managers to make choices and take actions that will enhance the welfare and interests of society and the organization
Stakeholder - ANSWER-any group or person within or outside the organization that has some type of investment or interest in the organization's performance
Stakeholder Mapping - ANSWER-systematic way to identify the expectations, needs, importance, and relative power of various stakeholders
Sustainability - ANSWER-economic development that generates wealth and meets the needs of the current population while preserving society and the environment for the needs of future generations
Triple Bottom Line - ANSWER-companies that embrace sustainability measure performance in terms of financial, social, and environmental
Discretionary Responsibility - ANSWER-purely voluntary and is guided by the organization's desire to make socials contributions not mandated by economics, laws, or ethics
Code of Ethics - ANSWER-formal statement of the organization's values regarding ethics and social issues
Ethics Committee - ANSWER-group of executives charges with overseeing company ethics by ruling on questionable issues and disciplining violators
Solutions.
Chief Ethics Officer - ANSWER-manager who oversees all aspects of ethics and legal compliance
Whistle Blowing - ANSWER-disclosure by employees of unethical, illegitimate, or illegal practices by the organization
Informational Role - ANSWER-used to maintain and develop an information network
-monitor role
-disseminator and spokesperson role
Monitor Role - ANSWER-seeking current information from many sources in order to stay informed
Disseminator/Spokesperson Role - ANSWER-manager transmits current infer to others, both inside and outside the organization who can use it
Interpersonal Roles - ANSWER-relationships with others and are related to the human skills
-figurehead
-leader
-liaison
Figurehead Role - ANSWER-handling ceremonial and symbolic activities for the department or organization
Leader Role - ANSWER-encompasses relationships with subordinates, including motivation, communication, and influence
Liaison Role - ANSWER-development of information sources both inside and outside the organization
Decisional Role - ANSWER-events about which the manager must make a choice and take action
Solutions.
BRIC - ANSWER-Britain, Russia, India, China, and sometimes south africa
Geert Hofstede - ANSWER-power distance, uncertainty avoidance, individualism vs. collectivism, masculinity vs. femininity, long term vs. short term
Major Trade Organizations - ANSWER-GATT/WTO-world trade organization
EU- european union
NAFTA- north american free trade agreement
ASEAN-Association of Southeast Asian Nations
