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Management Chapters 7 - 12

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Chapter 7  
Planning A process that involves defining the organization's objectives or goals, establishing an overall strategy for achieving those goals, and developing a comprehensive hierarchy of plans to integrate and coordinate activities.
Strategic Plans Plans that are organization wide, establish overall objectives, and position an organization in terms of its environment.
Operational Plans Plans that specify details on how overall objectives are to be achieved.
Long - Term Plans Plans that extend beyond three years
Short- Term Plans Plans that cover one year or less
Specific Plans Plans that are clearly defined and leave no room for interpretation
Directional Plans Flexible plans that set out general guidelines
Single-Use Plan A one-time plan that is specifically designed to meet the needs of unique situation and is created in response to non programmer decisions that managers make.
Standing Plans Ongoing plans that provide guidance for activities repeatedly performed in the organization and that are created in response to programmed decisions that managers make.
Commitment Concept Plans should extend for enough to see through current commitments
Objectives Desired outcomes for individuals, groups, or entire organizations.
Stated Objectives Official statements of what an organization says-and what it wants various publics to believe- its objectives are.
Real Objectives Objectives that an organization actually purses, as defined by the actions of its members
Traditional Objectives Setting Objectives are set at the top and then broken down into subgoals for each level in an organization. The top imposes its standards on everyone below.
Means- Ends Chain An integrated network of organizational objectives in which higher-level objectives, or ends, are linked to lower-level objectives, which serve as the means for their accomplishment.
Management By Objectives (MBO) A system in which specific performance objectives are jointly determined by subordinates and their superiors, progress toward objectives is periodically reviewed, and rewards are allocated on the basis of this progress.
Chapter 8  
Corporate Level Strategy Seeks to determine what businesses a corporation should be in.
Business Level Strategy Seek to determine how a corporation should compete in each of its businesses
Strategic Business Unit A single business or collection of businesses that is independent and formulates its own strategy.
Functional- Level Strategy Seeks to determine how to support the business- level strategy.
Strategic Management Process An eight step process that encompasses strategic planning, implementation, and evaluation.
Mission The purpose of an organization
Opportunities Positive external environmental factors
Threats Negative external environmental factors
Core Competencies An organization's major value-creating skills, capabilities, and resources that determine its competitive weapons.
Strengths Activities the firm does well or resources it controls
Weaknesses Activities the firm doesn't do well or resources it needs but doesn't posses.
SWOT Analysis Analysis of an organization's strengths and weaknesses and its environmental opportunities and threats
Stability Strategy A corporate-level strategy characterized by an absence of significant change.
Growth Strategy A corporate-level strategy that seeks to increase the level of the organization's operations; typically includes increasing revenues, employees, or market share, or some combination.
Related Diversification's A way that companies grow that involves merging with or acquiring similar firms.
Merger When two or more forms, usually similar size, combine into one through and exchange of stock
Acquisition When one company acquires another company through payment of cash or buying stock or some combination of the two
Unrelated Diversification A way that companies grow that involves merging with or acquiring unrelated firms or firms that are not directly related to what the company does.
Retrenchment Strategy A corporate level strategy that seeks to reduce the size of diversity of an organization's operations.
Combination Strategy A corporate-level strategy that pursues two or more of the following strategies- stability, growth, or retrenchment- simultaneously.
BCG Matrix Strategy tool to guide resource allocation decisions on the basis of the market share and growth of SBUs.
Cash Cows Businesses that demonstrate low growth but have a high market share.
Stars Businesses that demonstrate high growth and have a high market share.
Question Marks Businesses that demonstrate high growth but have low market share.
Dogs Businesses that demonstrate low growth and have low market share.
Cumulative Experience Curve Assumes that when a business increases the amount of product manufactured the per unit cost of the product will decrease.
Competitive Advantage What sets an organization apart; its competitive edge.
Cost Leadership Strategy The strategy of an organization follow when it wants to be the lowest-cost produces in its industry.
Differentiation Strategy The strategy a firm follows when it wants to be unique in its industry along dimensions widely valued by buyers.
Focus Strategy The strategy a company follows when it pursues a cost or differentiation advantage in a narrow industry segment.
Stuck In the Middle Descriptive of organizations that can not compete through cost leadership, differentiation, or focus strategies.
Chapter 9  
Environmental Scanning The screening of large amounts of information to detect emerging trends and to create scenarios.
Competitor Intelligence Environmental scanning activity that seeks to identify who competitors are what they are doing , and how their actions will affect the focus organization.
Scenario A consistent view of what the future is likely to be.
Forecasts Predictions of outcomes
Revenue Forecasting Predicting revenues.
Technological Forecasting Predicting changes in technology and when new technologies are likely to be economically feasible.
Quantitative Forecasting Applies to a set of mathematical rules to a series of past data to predict outcomes.
Qualitative Forecasting Uses the judgement and opinions of knowledgeable individuals to predict outcomes.
Benchmarking The search for the best practices among competitors or non competitors that lead to their superior performance.
Budget A numerical plan for allocating resources to specific activities.
Revenue Budget A budget that projects future sales.
Expense Budget A budget that lists the primary activities undertaken by a unit and allocates dollar amount to each.
Profit Budget A budget used by separate units of an organization that combines revenue and expense budgets to determine the unit's profit contribution.
Cash Budget A budget that forecasts how much cash an organization will have on hand and how much it will need to meet expenses.
Capital Expenditure Budget A budget that forecasts investments in property, buildings, major equipment.
Fixed Budget A budget that assumes a fixed level of sales or production.
Variable Budget A budget that takes into account the costs that vary with volume.
Scheduling A list of necessary activities, their order of accomplishment, who is to do each, and the time needed to complete them.
Gantt Chart A scheduling chart developed by Henry Gantt that shows actual and planned output over a period of time.
Load Chart A modified Gantt chart that schedules capacity by work stations.
Program Evaluation and Review Technique (PERT) A technique for scheduling complicated projects comprising many activities, some of which are interdependent.
PERT Network A flowchart like diagram showing the sequence of activities needed to complete a project and the time or cost associated with each.
Events End points that represent the completion of major activities in a PERT Network.
Activities the time or resources needed to progress from one event to another in a PERT Network.
Slack Time The amount of time an individual activity can be delayed without delaying the whole project.
Critical Path The longest sequence of activities in a PERT network.
Breakeven Analysis A technique for identifying the point at which total revenue is just sufficient to cover total costs.
Linear Programming A mathematical technique that solves resource allocation problems.
Queuing Theory A technique that balances the cost of having waiting line against the cost of service to maintain that line.
Probability Theory The use of statistics to analyze past predictable patterns and to reduce risk in future.
Marginal Analysis A planning technique that assesses the incremental costs or revenues in a decision.
Simulation A model of a real world phenomenon that contains one or more variables that can be manipulated in order to assess their impact.
Project A one-time only set of activities that has a definite beginning and ending point in time.
Project Management The task of getting a project's activities done on time, within budget, and according to specifications.
Chapter 10  
Organizing The process of creating an organization's structure.
Organizational Structure The organization's formal framework by which job tasks are divided, grouped, and coordinated.
Organizational Design The developing or changing of an organization's structure.
Work Specialization The degree to which tasks in an organization are divided into separate jobs. Also known as division of labor.
Departmentalization The basis on which jobs are grouped in order to accomplish organizational goals.
Functional Departmentalization Grouping jobs by functions performed.
Product Departmentalization Grouping jobs by product line.
Geographical Departmentalization Grouping jobs on the basis of territory or geographically.
Process Departmentalization Grouping jobs on the basis of product or customer flow.
Customer Departmentalization Grouping jobs on the basis of common customers.
Cross-Functional Team A hybrid grouping of individuals who are experts in various specialties (or functions) and who work together.
Chain of Command An unbroken line of authority that extends from the upper levels of the organization to the lowest levels and clarifies who reports to whom.
Authority The RIGHTS inherent in a managerial position to give orders and to expect the orders to be obeyed.
Responsibility The obligation or expectation to perform.
Unity of Command The management principle that a subordinate should have one and any one superior to whom he or she is directly responsible.
Span of Control The number of subordinates a manager can supervise efficiently and effectively.
Centralization The degree to which decision making is concentrated in the upper levels of the organization.
Decentralization The handling down of decision-making authority to lower levels in an organization.
Formalization The degree to which jobs within an organization are standardized and the extent to which employee behavior is guided by rules and procedures.
Mechanistic Organization An organization structure that's characterized by high specialization's, extensive departmentalization, narrow spans of control, high formalization, a limited information network, and little participation in decision making by low-level employees.
Organic Organization An Organizational structure that's highly adaptive and flexible with little work specialization, minimal formalization, and little direct supervision of employees.
Unit Production The production of items in units or small batches.
Mass Production Large batch manufacturing
Process Production Continuous-process production
Simple Structure An organizational design with low departmentalization, wide spans of control, authority centralized in a single person, and little formalization.
Functional Structure An organizational design that groups similar or related occupational specialties together.
Divisional Structure An organizational structure made up of semiautonomous units or divisions.
Team based Structure An organizational structure made up of work groups or teams that perform the organization's work.
Matrix Organization An organizational structure that assigns specialists from different functional departments to work on one or more projects being led by project managers.
Project Structure An organizational structure in which employees are permanently assigned to projects.
Autonomous Internal Units An organizational structure composed of autonomous decentralized business units, each with its own products, clients, competitors, and profit goals.
Boundaryless Organization An organization whose design is not defined by, or limited to, the horizontal, vertical, or external boundaries imposed by a predefined structure.
Learning Organization An organization that has developed the continuos capacity to adapt and change because all members take an active role in identifying and resolving work-related issues.
E-mail The instantaneous transmission of written messages on computers that are linked together.
Voice-mail A communication system that digitizes a spoken message, transmits over a computer network, and stores the message on disk for the receiver to retrieve later.
Facsimile (fax) A communication system that allows the transmission of documents containing both text and graphics.
Teleconferencing A communication system that allows a group of people to confer simultaneously using e-mail or telephone.
Videoconferencing A communication system that allows a group of people to confer simultaneously and see each other over video screens.
Electronic Data Interchange ( EDI) A communication system that allows organizations to exchange standard business transaction documents.
Intranets Internal Organizational communication systems that use Internet technology and are accessible only by organizational employees.
Telecommuting A work design option in which workers are linked to the workplace by computers and modems.
Virtual Workplace Offices that are characterized by open spaces, movable furniture, portable phones, laptop computers, and electronic files.
Chapter 11  
High performance work practices Human resources policies and practices that lead to high levels of performance.
Human Resource Management Activities necessary for staffing the organization and sustaining high employees performance.
Labor Union An organization that represents workers and seeks to protect their interests through collective bargaining
Labor-Management Relations The formal interactions between unions and an organization's management
Bona fide Occupational Qualification (BFOQ) A criterion such as sex, age, or national origin that may be used as a basis for hiring if it can be clearly demonstrated to be job related.
Affirmative Action Programs Programs that enhance the organizational status of members of protected groups.
Human resource Planning The process by which managers ensure that they have the right personnel, who are capable of completing those tasks that help the organization reach its objectives.
Job Analysis An assessment that defines jobs and the behaviors necessary to perform them.
Job Description A written statement of what a jobholder does, how it is done, and why it is done.
Job Specification A statement of the minimum acceptable qualifications that incumbent must possess to perform a given job successfully.
Recruitment The process of locating, identifying, and attracting capable applicants.
Decruitment Techniques for reducing the labor supply within an organization.
Selection Process The processor screening job applicants to ensure that the most appropriate candidates are hired.
Validity The proven relationship that exists between a selection device and some relevant criterion.
Reliability The ability of a selection device to measure the same thing consistently.
Work Sampling A personnel selection device in which job applicants are presented with a miniature replica of a job and are asked to perform tasks central to that job.
Assessment Centers Places in which job candidates undergo performance simulation tests that evaluate managerial potential.
Orientation The introduction of a new employee into his or her job and the organization.
Job Rotation On the job training that involves lateral transfers in which employees get to work at different jobs.
Mentor A person who sponsors or supports another employee who is lower in the organization.
Vestibule Training Training in which employees learn on the same equipment they will be using but in a simulated work environment.
Career The sequence of positions occupied by a person during his or her lifetime.
Skill- Based pay A pay system that rewards employees for the job skills and competencies they can demonstrate.
Broadbanding Compensation An approach to pay systems that reduce the number of job levels or salary grades into a few wide bands.
Sexual Harassment Behavior marked by sexually aggressive remarks, unwanted touching and sexual advances, requests for sexual favors, or other verbal or physical conduct of a sexual nature.
Dual-Career Couples Couples in which both partners have a professional, managerial, or administrative occupation.
Chapter 12  
Change An alteration in people structure, or technology.
Change Agents People who act as catalysts and manage the change process.
Organizational Development (OD) Techniques to change people and the quality Of interpersonal work relationships.
Sensitivity Training A method of changing behavior through unstructured group interaction.
Survey Feedback A technique for assessing attitudes and perceptions, identifying discrepancies in these attitudes and perceptions, and resolving the differences by using survey information in feedback groups.
Process Consultation Help given by an outside consultant to a manager in perceiving, understanding, and acting upon process events.
Team Building Interaction among members of work teams to learn how each member thinks and works.
Intergroup Development Changing the attitudes, stereotypes, and perceptions that work groups have about each other.
Stress A dynamic condition in which an individual is confronted with an opportunity, constraint, or demand related to what he or she desires and for which the outcome is perceived to be both uncertain and important.
Type A Behavior Behavior marked by chronic sense of time urgency and an excessive competitive drive.
Type B Behavior Behavior that is relaxed, easy going, and noncompetitive.
Creativity The ability to combine ideas in unique way or to make unusual associations between ideas.
Innovation The process of taking a creative idea and turning it into a useful product, service, or method of operation.
Idea Champions Individuals who actively and enthusiastically support a new idea, build support, overcome resistance, and ensure that the innovation is implemented.

Last Updated on 03/20/00
By Maria Ribaulo

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