BCOR 370 EXAM 1 STUDY GUIDE
Organization - Answer -a systematic arrangement of people to accomplish some
specific purpose
Reasons we have organizations - Answer -to accomplish specific objectives and serve
society
Management - Answer -the process of achieving goals, effectively and efficiently,
through and with other people
Process of achieving goals - Answer -planning, organizing, leading, controlling
4 basic functions of management - Answer -
Scientific management - Answer -the use of the scientific method to determine the "one
best way" to perform a job or task
Frederick Taylor - Answer -"the father of scientific management"
Time studies
The Gilbreth's - Answer -motion studies. Bricklaying example
Bureaucracy - Answer -an organization design marked by specialization, division of
labor, authority hierarchies and formal rules and procedures
Max Weber - Answer -German sociologist who observed that the bureaucracy was the
dominant organization type because it was the most efficient
Hawthorn studies - Answer -"the hawthorne effect": money is less a factor in
determining output than group standards, sentiment and security
Who is the main person responsible for the Hawthorn Studies? - Answer -Elton Mayo
Goal - Answer -the end toward which effort is directed. A desired future state or
condition
Planning - Answer -the act of determining goals and the means for achieving them
Mission statement - Answer -a broad statement which defines the basic purpose of the
person's or organization's existence
Characteristics of effective goals - Answer -specific and challenging
, Strategy - Answer -a broad plan of action for pursuing objectives and satisfying a
mission
SWOT - Answer -strengths, weaknesses, opportunities, threats
Corporate Level of Strategy - Answer -what business are we in?
Business Level of Strategy - Answer -how do we compete?
- cost leadership
- differentiation
- focus
Functional Level of Strategy - Answer -how do we support the business level
strategies?
BCG matrix - Answer -evaluating business units according to growth and market share.
Four quadrants include: cash cows, dogs, question mark, and stars
Cash Cows Quadrant - Answer -low growth markets but are high market share
products
Dogs Quadrant - Answer -low growth markets and have relatively low market shares
Question Mark Quadrant - Answer -low market shares and high market growth
Stars Quadrant - Answer -high market share and high market growth
Decision making - Answer -a process of identifying and selecting a course of action to
solve a problem
Problems - Answer -situations that occur when the actual state of affairs differ from the
desired state of affairs
Creativity - Answer -the ability to produce novel and useful ideas
Rational Decision Making Model - Answer --define problem
-identify the decision criteria
-weight the criteria
-generate alternatives
-rate alternatives on each criterion
-choose, implement, and evaluate the best alternative
Decision making in reality - Answer -bounded rationality, satisficing, intuition, and
escalation of commitment
Organization - Answer -a systematic arrangement of people to accomplish some
specific purpose
Reasons we have organizations - Answer -to accomplish specific objectives and serve
society
Management - Answer -the process of achieving goals, effectively and efficiently,
through and with other people
Process of achieving goals - Answer -planning, organizing, leading, controlling
4 basic functions of management - Answer -
Scientific management - Answer -the use of the scientific method to determine the "one
best way" to perform a job or task
Frederick Taylor - Answer -"the father of scientific management"
Time studies
The Gilbreth's - Answer -motion studies. Bricklaying example
Bureaucracy - Answer -an organization design marked by specialization, division of
labor, authority hierarchies and formal rules and procedures
Max Weber - Answer -German sociologist who observed that the bureaucracy was the
dominant organization type because it was the most efficient
Hawthorn studies - Answer -"the hawthorne effect": money is less a factor in
determining output than group standards, sentiment and security
Who is the main person responsible for the Hawthorn Studies? - Answer -Elton Mayo
Goal - Answer -the end toward which effort is directed. A desired future state or
condition
Planning - Answer -the act of determining goals and the means for achieving them
Mission statement - Answer -a broad statement which defines the basic purpose of the
person's or organization's existence
Characteristics of effective goals - Answer -specific and challenging
, Strategy - Answer -a broad plan of action for pursuing objectives and satisfying a
mission
SWOT - Answer -strengths, weaknesses, opportunities, threats
Corporate Level of Strategy - Answer -what business are we in?
Business Level of Strategy - Answer -how do we compete?
- cost leadership
- differentiation
- focus
Functional Level of Strategy - Answer -how do we support the business level
strategies?
BCG matrix - Answer -evaluating business units according to growth and market share.
Four quadrants include: cash cows, dogs, question mark, and stars
Cash Cows Quadrant - Answer -low growth markets but are high market share
products
Dogs Quadrant - Answer -low growth markets and have relatively low market shares
Question Mark Quadrant - Answer -low market shares and high market growth
Stars Quadrant - Answer -high market share and high market growth
Decision making - Answer -a process of identifying and selecting a course of action to
solve a problem
Problems - Answer -situations that occur when the actual state of affairs differ from the
desired state of affairs
Creativity - Answer -the ability to produce novel and useful ideas
Rational Decision Making Model - Answer --define problem
-identify the decision criteria
-weight the criteria
-generate alternatives
-rate alternatives on each criterion
-choose, implement, and evaluate the best alternative
Decision making in reality - Answer -bounded rationality, satisficing, intuition, and
escalation of commitment
