fundamentals of management exam 1

management definition Answer- pursuit of organizational goals includes both setting a strategic course of action for the firm and coordinating the efforts of key personnel functions of management Answer- planning: establishing goals and objectives and implementing actions accordingly organizing: delegation of responsibility and organizational design leading: motivation and direction controlling: measurement of performance Levels of management Answer- Top Managers: conduct strategic thinking and plan the strategic direction of the firm Middle Managers: balance the directives from the top of the organization with the day to day realities from operational managers First Line Managers: supervise the bulk of the employees in the organizational and plan daily or weekly tasks for employees Board of Directors: oversee the activities of the firm and ensure that the organization is maximizing value to its stakeholders manager skills Answer- conceptual: are where managers need to think analytically, understand how an organization best functions and fit the overall puzzle pieces together (strategic managers at the top use this) technical: specific knowledge needed to perform a specialized skill (bottom line must possess more technical) human: also known as interpersonal skills, working with people (middle managers), managers must possess soft skills (ability to motivate, inspire trust, communicate, network, and manage human interaction at all levels) manager roles (mintzberg) Answer- Mintzberg found that managers tend to work in high pressure situations, and the work is fragmented and uneven, preferring face to face communication interpersonal: being a leader, link between internal and external. channeling ideas and info throughout an organization informational: monitor teams and people, communicating the information and acting as a spokesperson. decisional: using the provided info and change, fix problems, negotiate, and allocate resources historical period- classical period Answer- historical: the first half of the 20th century ideal: stressing efficient ways to work and improve worker productivity - bureaucracy (weber): to be rational, efficient, merit based and logical organization, to require structure in an organization 1. Administrative (Fayol): fayol came up with the functions of management (planning, organizing, leading, controlling) 2. Scientific: study of work methods to improve productivity b. fredrick taylor: focused on efficiency, introduced scientific management c. gilbreaths (time/motion): contributions to worker productivity by looking at time and motion studies 3. Behavioral: a. musterberg (10 psych): introduced and advocated psychological to the workplace b. follet (sociological): sociological and community workplace and interactions c. mayo (research): wanted to manipulate certain factors in a company. figure out optimal systematically manipulated. none of them showed different only that they were more productive when people were watching them (hawthore effect) 4. Human Relations a. maslow (motivation): hierarchy explains human motivation (content or need theory) the triangle goes from lower order to higher order to the top (bottom to top: psychological, safety, love and belonging, esteem, self actualization) b. mcgregor (theory xy):focuses on the manager and the employee. x: views their employees as insufficient. y: good employees who do well they do not need much help historical period- modern period Answer- Modern Period: second half of the 20th century ideal: more complicated. a. systems view: systems view considers the organization as a set of interrelated parts - inputs: raw materials or human capital - processing: organizational capabilities combine the inputs into something meaningful -output: finished product or service - feedback: connects the output to the external environment finishing the loop b. contingency: assumes that the external environment is constantly changing - evidence based management: identifies unique problems and understands that solutions might vary from time to time. seeks to find the best practices c. TQM - continuous improvement mindset of the organization (quality control, quality assurance) ethics Answer- branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and the goodness and badness of the motives and ends of such actions business ethics Answer- the study of proper business policies and practices regarding potentially controversial issues values Answer- important and lasting beliefs or ideals shared by the members of a culture about what is good or bad and desirable and undesirable morals Answer- attitudes Answer- predisposition to respond positively or negatively towards something ethical dillemas Answer- occur when a situation arises in which two or more potentially "right" values are in conflict stakeholders Answer- internal: employees, managers, and owners external: individuals and groups outside of the organization that are indirectly affected by the actions and decisions and organization and its employees make a. task: reliant on both the internal and external b. general: has no control over these outside groups, makes decisions based on what happens within these groups kohlberg stages Answer- 1. preconventional a. punishment and obedience: right and wrong defined by what they get punished for. b. instrumental and relativist: right and wrong is now determined by what we are rewarded for and doing what others want. motivated by selfishness 2. conventional: a. interpersonal concordinance: right and wrong are determined by the majority b. law and order: doing our duty to society 3. postconventional a. social contract: right and wrong determined by personal values b. universal ethics: deeply moral principles which are seen as more important than laws of the land social intuition model Answer- theory of moral development: triggering effect intuitions judgement reasoning approaches Answer- 1. consequentialist (utilitarian): asks the decison maker to identify the different alternative actions as well as the consequences attached to those actions 2. deontological (rights): approach based on the belief that society has several universal principles and that each of us has a duty to uphold them 3. virtue: approach focuses on the integrity of the decision maker instead of the action or the consequences billingtons elements of ethical choice Answer- 1. dealing with questions of ethics and morals are unavoidable 2. involve others 3. not all have implications 4. no final answer 5. a central element of ethics is choice 6. aim is to discover the correct form of behavior given the situation ethical climate Answer- how an organization handles motives, pressures, and its surrounding environment that may affect its overall culture code of ethics Answer- organizations must have a formal, written set of standards to guide employees of how they should behave corporate governance Answer- sarbanes oxley need to make sure the interests of the organization, its owners, and other stakeholders are being safeguarded whistleblower Answer- person who reports their knowledge of organizational misconduct to the public CSR Answer- corporate social responsibility diversity Answer- each person is going to have their own view on what they feel makes them diverse age cultural background physical abilities and disabilities race and religion sex and sexual orientation social identity theory Answer- 1. social categorization: noticeable categorization 2. person perception: we take personal perception and process of what we see is most noticeable 3. social identification: comparison of that person to yourself 4. social comparison: distinction between the cool and not cool groups dimensions of diversity Answer- gardenswartz and rowe's diversity wheel four layers of diversity that ranges from ingrained, uncontrollable, and stable in individuals 1. personality: inner most ring, who you are at the core 2. internal dimensions: no control over the next ring. born w shape many beliefs 3. external: can shape, next layer, acquired over time 4. organizational dimension: outer layer, found in the settings of work barriers to diversity Answer- 1. stereotypes (positive and negative) 2. prejudice (negative) 3. bias 4. fear of discrimination: you have the pressure to be the minority 5. lack of support managing diversity Answer- 1. transparency 2. mentorship and sponsorship 3. innovation goals and rewards 4. diversity task forces Organizational Strategies Answer- 1. top leadership commitment: successful organizations at the top levels of management are invested, and practicing, what they tell lower level employees 2. training: several organizations have developed training programs to educate their workforce about diversity 3. diversity programs: many of the programs that affect diversity in an organization are done so as a result of legislation Organizational Culture Answer- 1. Competing Values Framework: what culture fits your organization best based on organizational preferences internal - clan "do things together" - hierarchical "do things right" external - adhocracy "do things first" - market "do things first' 2. Levels a. observable artifacts: everything we observe with and organization and we can get an idea of how they want to operate b. espoused/ enacted values:very explicit, taught to every employee in orientation and training about how they would prefer the employees to act or make decisions c. basic (underlying) assumptions: basic assumptions based on the core values of an organization 3. Learning Culture a. formal: organization has guidelines b. informal: do not have guidelines Globalization Answer- Is the movement towards coexisting and collaborating worlds Pros: - better access to goods and services -potential for increased trade and competition - developing countries are able to become involved in trade and increased foreign capital and tech enter their country Cons: - strain on natural resources - the rich get richer the poor get poorer - unethical issues arise with the money continuing to flow in to these fortunate affluent groups - outsourcing and the loss of jobs Scale of Global Expansion Answer- 1. Global Sourcing: least amount of risk 2. Importing/ Exporting: doesnt involve high risk 3. Licensing and Franchising: level of investments. 4. Joint Ventures: markets share revenues and production 5. Foreign Subsidiary: largest investment, parent company is not sharing any of the costs with another organization Trade Blocs Answer- helps bring natural trade partners together in promoting trade within regions goal: increase number of products sent between partner nations and reduce the restrictions put upon imported products 4 trade blocks 1. north american free trade agreement 2. european union 3. association of southeast asian nations 4. mercado comun del sur (food and oil) Organization Aiding International Relations Answer- 1. IMF: international monetary fund, ensure the stability of the international monetary system 2. World Bank: provide low interest loans and grants to developing countries to support infrastructure, public administration, and several other areas 3. UN: united nations, maintain international peace 4. GATT: general agreement on tariffs and trade: promote international trade by reducing or eliminating trade barriers such as tariffs or quotas 5. WTO: world trade organization, settle trade disputes to support the needs of developing countires Limitations to Trade Answer- 1. Protectionism: protect countries products and industries from foreign competition 2. Tariff: tax on imported goods 3. Duties: amount of taxed money paid on an imported products (e.x: 5% tariff on a 20$ product, duty is 1$) 4. Quotas: limit imported goods 5. Dumping: limit a country from dumping their products in another country International Management Answer- 1. Expatriate: managing on foreign soil 2. Management Styles: a. ethnocentric: superiority in the native belief b. polycentric: allow local workers to run they way they are used to c. geocentric: most popular, belief in the integration of global orientation International Culture Answer- 1. geert hofstede (dimensions): where we can compare and contrast different work places in different cultures: a. power distance: accepting unequally distributed power b. individualism vs collectivism: high on individualism c. masculinity vs femininity d. uncertainty avoidance: abide by rules and structure e. long term vs short term orientation: long term f. indulgence vs restraint: more impulsive the more likely they seek gratification to drive actions 2. globe dimensions (house): study based on hofstede: a. performance orientation: how much do organizations reward members for improvement? b. assertiveness: how assertive or aggressive are people in relationships? c. future orientation: what extent do people act in long term? (gratification, planning, and investing) d. humane orientation: do they encourage individuals to be humane? e. institutional collectivism: how do they practice group based? f. in group collectivism: level of pride, loyalty, togetherness? g. gender egalitarianism: gender inequality exist? h. power distance: community accept privileges and power differences? i: uncertainty avoidance: how much do they avoid unpredictable outcomes or rely on rules?