Midterm Review

Chapter 1

Management- the process of working with and through others to achieve organizational objectives in a changing environment.
Effectiveness- a central element in the process of management that entails achieving a stated organizational objective (achieving a goal).
Efficiency-resources used against what was actually accomplished.Offshoring-sending jobs to low-wage countries.Evolution of production quality: the fix-it approach to quality (defects identified at the end of production), the inspect-it-in approach to quality(sample work in process), the build-it-in approach to quality(eliminating causes of quality problems), the design-it-in approach to quality(continuous improvement).
Internet- global network of servers & personal & organizational computers.

e-Business- a business that utilizes the internet for greater efficiency in every aspect of its operations.

Managerial Functions-general admin. duties that need to be carried out in all areas of an organization to achieve desired outcomes (decision making, organizing, staffing, communicating, motivating, leading, controlling).
Managerial skills-specific observable behaviors that effective managers exhibit (technical, teambuilding, drive).

Small Business- an independently owned and managed profit seeking enterprise with fewer than 100 employees

Entrepreneurship- the process of pursuing opportunities without regard to resources currently under one's control.
Entrepreneurial traits: focus on envisioned futures, emphasize external/market dimensions, display a medium to high tolerance for ambiguity, exhibit moderate to high levels of risk-taking, obtain motivation from a need to achieve, possess technical knowledge and experience in the innovative area.

Chapter2

Universal Process Approach- assumes that all organizations require the same rational management process. Henry Fayol's 14 universal principles of management are division of work, authority, discipline, unity of command, unity of direction, subordination of individual interests to the general interest, remuneration, centralization, scalar chain, order, equity, stability & tenure of personnel, initiative, espirit de corps.
Operational approach- production oriented field of management dedicated to improving efficiency & cutting waste.
Scientific Management- (Frederick W. Taylor) developing performance based on the basis of systematic observation and experimentation. Four areas include standardization, time & task study, systematic selection & training, pay incentives. Followers of scientific management were Frank & Lillian Gilbreth and Henry L. Gantt.
Quality advocates: Walter A. Shewhart, Kaoru Ishikawa, W. Edwards Deming(employee participation & continuous improvement), Joseph, M. Duran(Pareto analysis), Armand V. Feigenbaum(total quality control), Philip B. Crosby(zero defects).
Operations management- process of transforming material & human resources into useful goods & services.
Human relations movement-geared towards making managers more sensitive to employee needs. This was supported by 3 different historical movements: threat of unionization, the hawthorne studies(Elton Mayo) & the philosophy of industrial humanism(Mary Parker Follett & Douglas McGregor).
Theory X(-) & Theory Y (+)- Douglas McGregor's assumptions about the working class.
Organizational behavior- an approach seeking to discover the causes of work behavior & develop better management techniques.
System- a collection of parts operating interdependently to achieve a common purpose (Chester I. Barnard).
General Systems theory- study based on the assumption that everything is part of a larger, interdependent arrangement.
Closed system- self sufficient entity.
Open system- one that depends on it surrounding environment for survival.
Complex adaptive systems thinking helps managers make sense out of chaos.
Contingency approach- efforts to determine which managerial practices & techniques are appropriate in specific situations.
Multivariate analysis- research technique used to determine how a number of variables combine to cause a particular outcome.

Chapter3

Demographics- statistical profiles of human populations.
New social contract- assumption that the employer-employee relationship will be a short-term one based on convenience and mutual benefit, rather than life.
Glass ceiling- transparent barrier keeping women and minorities from moving up the management ladder.
Contingent worker- part-time/other employees who do not have a long-term contract with their employer.
Managing diversity- the process of helping all employees including women and minorities to reach their full potential.
Issues management- ongoing process of identifying, evaluating and responding to important social and political issues. Management's political response: reactive, neutral, proactive.
Advocacy advertising- promoting a point of view along with a product.
Specific political strategies: campaign financing, lobbying, coalition building, indirect lobbying.
Legal audit- review of all operations to pinpoint possible legal liabilities/problems.
Alternative dispute resolution- avoiding courtroom battles by settling disputes with less costly methods, including arbitration & mediation.
Business cycle- the up and down movement of an economy's ability to generate wealth. (prosperity->recession->depression->recovery.
Technology- all the tools & ideas available for extending the natural physical & mental reach of humankind.
Innovation process- the systematic development & practical application of a new idea.
Product technology- 2nd stage of the innovation process, involves creating a working prototype.
Production technology- 3rd stage of the innovation process, involves the development of a profitable production process.
Innovation lag- the time it takes a for a new idea to be translated into satisfied demand.
Concurrent engineering- team approach to design involving specialists from all functional areas, including research, production and marketing.
Intrapreneur- an employee who takes personal responsibility for pushing an innovative idea through a large organization.