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Principles of Management Test – Chapters 1-3

Chapter 1
Chapter 1
Manager
Person who supports and is responsible for the work of others
First-Line Managers
Supervise people who perform nonmangerial duties and manage the work of nonmanagerial individuals who are directly involved with the production or creation of the organization’s products

ex. supervisors, line managers, office managers

Middle Managers
Oversee the work of large departments or divisions

ex. department head, project leader, plant manager, or division manager

Top Managers
Guide the performance of the organization as a whole or of one of its major parts

ex. CEO, executives

Board of Directors
Elected by stockholders to represent their ownership of stock
Governance
Oversight of top management by a board of directors or board of trustees
Accountability
The requirement to show performance results to a supervisor
Effective Manager
Successfully helps others achieve high performance and satisfaction in their work
Quality of Work Life
The overall quality of human experience in the workplace
Upside-Down Pyramid
A view that puts customers at the top of the organization being served by workers who are supported by managers below them
Management Process
Planning, organizing, leading, and controlling the use of resources to accomplish performance goals
Planning
The process of setting objectives and determining what should be done to accomplish them
Organizing
The process of assigning tasks, allocating resources, and coordinating work activities
Leading
The process of arousing enthusiasm and inspiring efforts to achieve goals
Controlling
Process of measuring performance and taking action to ensure desired results
Agenda Setting
Identifies important action priorities
Networking
Involves building and maintaining positive relationships with other people
Social Capital
The capacity to attract support and help from others in order to get things done
Technical Skill
The ability to use expertise to perform a task with proficiency
Human Skill
The ability to work well in cooperation with other people
Emotional Intelligence
The ability to manage ourselves and our relationships effectively
Conceptual Skill
The ability to think analytically and solve complex problems
Lifelong Learning
Continuous learning from daily experiences
Globalization
The worldwide interdependence of resource flows, product markets, and business competition
Global Sourcing
Involves contracting for work that is performed in other countries
Job Migration
Occurs when global outsourcing shifts from one country to another
Ethics
Set moral standards of what is “good” and “right”
Corporate Governance
Oversight of a company’s managment by a board of directors
Workplace Diversity
Describes differences among workers in gender, race, age, ethnicity, religion, sexual orientation, and able- bodiedness
Glass Ceiling Effect
An invisible barrier limiting career advancement of women and minorities
Prejudice
The display of negative, irrational attitudes toward women and minorities
Discrimination
Actively denies women and minorities the full benefits of organizational membership
Free- Agent Economy
People change jobs more often, and many work on independent contracts with a shifting mix of employers
Shamrock Organization
Operates with a core group of full-time long-term workers supported by others who work on contracts and part time
Intellectual Capital
The collective brainpower or shared knowledge of a workforce

Intellectual Capital= Competency x Commitment

Knowledge Workers
Use their minds and intellects as critical assets to employers
Self-Management
The ability to understand oneself, exercise initiative, accept responsibility, and learn from experience
Chapter 2
Chapter 2
Scientific Management
Emphasizes selection and training of workers and supervisory support
Motion Study
The science of reducing a job or task to its basic physical motions
Bureaucracy
A rational and efficient form of organization founded on logic, order, and legitimate authority
Scalar Chain Principle
States that organizations should operate with clear unbroken lines of communication top to bottom
Unity of Command Principle
A worker should only receive orders from one boss
Follett
Advocated for social responsibility, respect for workers, and better cooperation through organizations; warned against the dangers of too much hierarchy, and called for visionary leadership
Hawthorne Effect
The tendency of persons singled out for special attention to perform as expected
Need
Physiological or Psychological deficiency that a person wants to satisy
Maslow’s Hierarchy of Needs
From bottom to top: phsyological needs, safety needs, social needs, esteem needs, self-actualization needs
Maslow’s Progression Principle
A need at any level becomes activated only after the next-lower-level need is satisfied
Maslow’s Deficit Principle
People act to satisfy needs for which a satisfaction deficit exists; a satisfied need doesn’t motivate behavior
Theory X
Assumes people dislike work, lack ambition, are irresponsible, and prefer to be led
Theory Y
Assumes people are willing to work, accept responsibility, are self-directed, and are creative
Self-Fulfilling Prophecy
Occurs when people act in ways that confirm another’s expectations
Analytics
The systematic use and analysis of data to solve problems and make informed decisions
Management Science and Operations Research
Apply mathematical techniques to solve management problems
Operations Management
The study of how organizations produce goods and services
Open System
Transforms resource inputs from the environment into product outputs
Subsystem
Smaller component of a larger system
Contingency Thinking
Tries to match management processes with situational demands
Total Quality Management
Managing with an organization-wide commitment to continuous improvement, product quality, and customer needs
Continuous Improvement
Involves always searching for new ways to improve work quality and performance
High-Performance Organization
Consistently achieves excellence while achieving a high quality work environment
Evidence Based Management
Making decisions based on hard facts about what really works
Chapter 3
Chapter 3
Ethics
Sets standards of good or bad, right or wrong, in our conduct
Ethics VS Laws
Ethics are the base for laws, but laws are punishable while ethics are not. Laws are created by governments and ethics are created by oneself
Ethical Behavior
What is “right” or “good” in the context of a governing moral code
Values
Broad beliefs about what is appropriate behavior
Values VS Beliefs
Beliefs are assumptions that we make about the world and our values stem from those beliefs. Values are things that we deem important and can include concepts like equality, honesty, education, effort, perseverance, loyalty, faithfulness, conservation of the environment
Terminal Values
Preferences about desired end states
Instrumental Values
The preferences regarding the means to desired ends
Utilitarian View
Ethical behavior delivers the most good to the most people
Individualism View
Ethical behavior advances long term self interests
Justice View
Ethical behavior treats people impartially and fairly
Procedural Justice
Focuses on the fair application of policies and rules
Disruptive Justice
Focuses on treating people the same regardless of personal characteristics
Interactional Justice
The degree to which others are treated with dignity and respect
Commutative Justice
Focuses on the fairness of exchanges or transactions
Moral Rights View
Ethical behavior respects and protects fundamental rights
Cultural Relativism
Suggests there is no one right way to behave; cultural context determines ethical behavior
Ethical Imperialism
An attempt to impose one’s ethical standards on other cultures
Ethical Dilemma
A situation that, although offering potential benefit or gain, is also unethical
Ethical Frameworks
Well thought out personal rules and strategies for ethical decision making
Ethics Training
Seeks to help people understand the ethical aspects of decision making and to incorporate high ethical standards into their daily behavior
Spotlight Questions
Highlight the risks of public disclosure of one’s actions
Whistleblowers
Expose misconduct of organizations and their members
Immoral Manager
Chooses to behave unethicaly
Amoral Manager
Fails to consider the ethics of her or his behavior
Moral Manager
Makes ethical behavior a personal goal
Code of Ethics
A formal statement of values and ethical behaviors
Stakeholders
People and institutions most directly affected by an organization’s performance
Corporate Social Responsibility
The obligation of an organization to serve its own interests and those of its stakeholders
Triple Bottom Line of Organizational Performance
Includes financial, social, and environmental criteria
Three P’s of Organizational Performance
Profit, People, Planet
Classical View of Corporate Social Responsibility (CSR)
Business should focus on the pursuit of profits
Socioeconomic View of CSR
Business should focus on contribution to society, not just on making profits
Virtuous Circle
Exists when CSR leads to improve financial performance that leads to more social responsibility
Shared Value
Approaches business decisions with understanding that economic and social progress are interconnected
Social Responsibility Audit
Measures and reports on an organization’s performance in various areas of corporate social responsibility
Sustainability
A goal that addresses the rights of present and future generations as co-stakeholders of present day natural resources
Sustainable Business
Firms operate in ways that both meet the needs of customers and protect the well-being of our natural environment
Sustainable Development
Making use of natural resources to meet today’s needs while also preserving and protecting the environment for use by future generations
Environmental or Natural Capital
The storehouse of natural resources- atmosphere, land, water, and minerals- that we use to sustain life and produce goods and services for society
ISO 14001
A global quality standard that certifies organizations that set environmental objectives and targets, account for the environmental impact of their activities, and continuously improve environmental performance
Social Business
One in which the underlying business model directly addresses a social problem
Social Entrepreneur
Takes business risks to find novel ways to solve pressing social problems

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