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Exam III
Material covered by Deck's third MGT exam
104
Management
Undergraduate 3
12/04/2012

Additional Management Flashcards

 


 

Cards

Term
define team
Definition
Group of people w/ complimentary skills & a common purpose who are mutually accountable (also use teamwork)
Term
Groups differ from individuals in terms of:
Definition
1. More "effort" resources (more hands to help)
2. Variety (knowledge, skills, perspective)
3. Communication & coordination
4. Time (fast work, slow planning)
5. Responsibility (solve vs ambiguous)
Term
Define synergy
Definition
the group can accomplish more than the individuals separately
Term
Sources of process losses
Definition
1. Status effects
2. groupthink
3. Abilene paradox
Term
Ways of managing team conflict
Definition
1. Domination
2. Accommodation
3. Compromise
4. Avoidance
5. Collaboration
Term
Manager's role in a team
Definition
1. get everyone involved
2. ask the right questions
3. find the balance
Term
Coach Hughes' 5 Winning qualities in great leaders
Definition
1. Passionate
2. Fear of failure
3. Competitive
4. Great worker
5. Good person
Term
According to Coach Hughes, passionate means:
Definition
1. emotionally invested
2. Love to win, hate to lose
Term
According to Coach Hughes, fear of failure is:
Definition
1. inherent to baseball
2. inherent to real life
Term
According to Coach Hughes, some competitive people are:
Definition
1. Kids in gym class (him?)
2. His wife
3. His son
Term
According to Coach Hughes, great workers have high ________
Definition
energy
Term
According to Coach Hughes, good people are:
Definition
1. unselfish
2. respectful
Term
2 truths about winning qualities, as according to Coach Hughes
Definition
1. They do not discriminate
2. they are infectious/powerful
Term
How to fight negativity, according to Coach Hughes
Definition
1. Dwell on the positive
2. Look to be inspired
Term
Leadership vs Managment
Definition
Managers influence based on appointment
Leaders can influence beyond formal authority
Term
Types of power
Definition
Position
Person
Legitimate
Expert
Referent
Reward
Coercive
Term
Becoming an effective leader involves:
Definition
1. Attitude (positive, humility, work ethic)
2. Behaviors (task v people focus)
3. Character (integrity)
Term
Task vs People focus
Definition
People-make others feel important, show appreciation, circulate
Task-deliver results
Term
Define charisma
Definition
1. special quality that inspires allegiance and devotion
2. Personal magnetism that inspires fascination
3. compelling vision that inspires followers
Term
Actions of transformational leaders:
Definition
1. enthusiastically and effectively communicate their vision
2. transform employees to persue organizational goals
Term
A servant leader is a _____ _____
Definition
servant first
Term
barriers to communication
Definition
1. Intentional filtering
2. perceptual filtering
3. selective perception
4. information overload
5. language
Term
Keys to effective communication
Definition
1. know your audience, answer likely questions
2. focus on content
3. conclusion first
4. S & S
5. Use visual communication
6. Non-verbal speaks the most
Term
Non-verbal communication consists of _____ and _____ and makes up __% of communication
Definition
visual and vocal
65-90%
Term
the key to good communication is:
Definition
being a good listener
Term
Hearing is not ______
Definition
listening
Term
Most communication errors can be avoided by:
Definition
seeking or giving feedback
Term
In business it's always ________'s fault
Definition
management
Term
An effective control system leads to:
Definition
attainment of organizational goals
Term
Control Process
Definition
1. identify standard
2. measure actual performance
3. compare actual against standard
4. evaluate
5. correct
Term
Diagram transformational processes
Definition
inputs ---> trans. process ---> outputs
Term
Ways to measure performance
Definition
1. observation
2. report
3. audit
Term
What does an organization control?
Definition
1. employee behavior
2. quality
3. productivity
4. customer satisfaction
5. financial performance
Term
A process control audit assesses ______
Definition
employee behavior
Term
Approaches to managerial control of behavior:
Definition
1. Bureaucratic (use of rules legitimate authority)
2. Clan (based on organization's culture)
Term
TQR involves:
Definition
1. Continuous improvement
2. Employee involvement
3. Defect prevention vs detection
4. improving process using data
Term
define income statement
Definition
reports profit or loss for a period of time
Term
define balance sheet
Definition
reports assets, liabilities, and owner's equity at a specific point in time
Term
Federal Mogul key measures of success
Definition
1. Safety (OHSA, poor safety is costly)
2. Quality (defect-free, satisfies customer needs, quality mgt systems)
3. Productivity (outputs/inputs, waste elimination = lean)
Term
_______ pioneered "lean" industry
Definition
Toyota
Term
Sakichi Toyoda's looms improved productivity by:
Definition
"built in quality" stopping when a thread broke (1 person could monitor 10 machines for breaks, instead of just 1)
Term
Kiichiro Toyoda increased productivity in Toyota by:
Definition
"just in time" manufacturing - the right item at the right time in the right amount
Term
Components of "lean" philosophy
Definition
1. employee involvement
2. continuous improvement
3. waste elimination
Term
Diagram how to improve productivity
Definition

lower costs-------> lower prices

|                                  |

|                                  v

| higher quality -> higher sales

|                                  |

|                                  v

  ----------------------> higher profit

Term
define the contingency leadership approach
Definition
effective leadership behavior depends on the situation
Term
contingency leadership model consists of:
Definition
1) task-oriented style
2) relationship oriented style
Term
three-dimensions of situational control
Definition
1. leader-member relations "do my subordinates respect me?"
2. task structure " "" perform easily understood tasks?"
3. Position power "do I have power to reward punish?"
Term
define path-goal leadership model (who's model is it)
Definition
leader makes desirable rewards available & provides clear paths to those goals (House)
Term
define situational leadership theory model (who's model is it)
Definition
leadership style is adjusted according to readiness of followers (Hersey)
Term
define readiness
Definition
the extent o which a follower poseses the ability and willingness to complete a task
Term
define communication
Definition
the transfer of information and understanding from one person to another
Term
define full-range leadership
Definition
leadership varies along a range
laissez-faire --- transactional --- transformational
Term
define transactional leadership
Definition
focus on clarifying employees roles & requirements providing rewards punishments based on performance
Term
define transformational leadership
Definition
transforms employees to persue organizational goals over self-interest
Term
four key behaviors of transformational leaders
Definition
1. Inspirational motivation
2. Idealized influence
3. Individualized consideration
4. Intellectual stimulation
Term
implications of transformational leadership
Definition
1. can improve both individuals & groups
2. can train employees at any level
3. requires ethical leaders
Term
define leader-member exchange (LMX) leadership
Definition
leaders have different sorts of relationships with different subordinates
Term
define shared leadership
Definition
simultaneous ongoing mutual influence process in which people take shared responsibility for leading
Term
define e-leadership
Definition
involves many different types of interactions via information technology
Term
define encoding
Definition
translating a message into understandable symbols or language
Term
define decoding
Definition
interpreting and trying to make sense of the message
Term
define medium
Definition
pathway through which a message travels
Term
diagram communication process
Definition
sender [encoding]-> message [medium] message -> [decoding] reciever
Term
define noise
Definition
any disturbance that interferes with the transmission of the message
Term
noise occurs in ______ and ______ communications
Definition
nonverbal
cross-cultural
Term
define media richness
Definition
how well a particular medium conveys information
Term
For routine situations ______ media richness is best. For ambiguous situations, ______ is
Definition
low
high
Term
rich mediums are ____ and ____, lean are ___ and ___, and ____ is intermediate
Definition
face-to-face
video conferencing
impersonal written media
personal written media
telephone
Term
barriers to communication:
Definition
1. Physical
2. Semantics
3. Personal
Term
personal barriers to communication:
Definition
1. variable communication skills
2. variations in processing & interpretation
3. variations in trustworthiness
4. oversized egos
5. faulty listening
6. tendency to judge others' messages
7. inability to listen w/ understanding
8. stereotypes
9. nonverbal communication
Term
types of non-verbal communication:
Definition
1. eye contact
2. facial expressions
3. body movements & gestures
4. touch
5. setting
6. time
Term
four functions of eye contact:
Definition
1. signals beginning (away) and end (at) of conversation
2. expresses emotion (away for bad news)
3. Gazing monitors feedback
4. Gazing expresses relationship between people (western look @ superior, Asians away)
Term
____ move their hands and heads more in communication, ____ make large bod movements and move legs
Definition
women
men
Term
either gender touching a ____ is considered sexual
Definition
man
Term
____ and ____ touch more in communication
Definition
women
good teams
Term
define formal communication channels
Definition
follow chain of command and are recognized as official
Term
vertical communication occurs between _____
Definition
superiors and subordinates
Term
horizontal communication occurs between ____
Definition
work units
Term
outside communication is important in regards to _____
Definition
customers or clients
Term
MBWA stand for:
Definition
management by walking around
Term
define grapevine
Definition
unofficial communication system
Term
how to streamline reading:
Definition
1. be savvy about periodicals and books
2. transfer your reading load
3. make internal memos and email more efficient
Term
top-down reading or SQ3R:
Definition
1. rate reasons to read
2. question & predict answers
3. survey the big picture
4. skim for main ideas
5. summarize
Term
Strategies for effective writing:
Definition
1. don't show your ignorance
2. understand your strategy before you write
3. start with your purpose
4. write simply, concisely, and directly
5. use a powerful layout
Term
When writing, go ____ important to ____ important, ____ controversial to ____ controversial, and ____ to ____
Definition
most, least
least, most
negative, positive
Term
the #1 predictor of of success and upward mobility is:
Definition
how much you enjoy public speaking and how good you are at it
Term
Three rules of giving speeches:
Definition
1. Tell them what you're going to say
2. Say it
3. Tell them what you said
Term
Liquidity ratios measure _____ and are of interest to _____
Definition
firm's ability to meet short-term goals
those giving short-term loans
Term
asset turnover ratios indicate:
Definition
how efficiently a firm utilizes its assets
Term
financial leverage ratios indicate:
Definition
the firm's long-term solvency
Term
profitability ratios indicate:
Definition
success of the firm at generating profit
Term
define enterprise resource planning (ERP):
Definition
software systems, information systems for integrating virtually all aspects of a business
Term
most economists attribute recent growth to:
Definition
increasing use of information technology
Term
control is needed to:
Definition
1. Adapt to change & uncertainty
2. to discover irregularities & errors
3. reduce costs, increase productivity, or add value
4. to detect opportunities
5. to deal with complexity
6. to decentralize decision making & facilitate teamwork
Term
define management by exception
Definition
managers should be informed of a situation only if data shows significant deviation from the standards
Term
three levels of control
Definition
1. Strategic -top managers
2. Tactical - middle managers
3. Operational - first-level managers
Term
define strategic control
Definition
monitoring performance to make sure that strategic plans are being implemented and taking corrective action
Term
define tactical control
Definition
monitoring performance to make sure plans at the divisional or departmental level are being implemented
Term
define operational control
Definition
monitoring performance to make sure day-to-day goals are being met
Term
six areas of control
Definition
1. Physical
2. human resources
3. informational
4. financial area
5. structural
6. cultural
Term
balanced scorecard gives a _____ view of:
Definition
fast
1. customer satisfaction
2. internal processes
3. innovation and improvement
4. financial measures
Term
Four balanced scorecard perspectives
Definition
1. Financial - "how do we look to shareholders"
2. Customer - "how to customers see us"
3. Internal business - "at what must we excel?"
4. Innovation and learning -"can we continue to improve?"
Term
Why measurement-managed firms succeed
Definition
1. top execs agree on strategy
2. communication is clear
3. better focus & alignment
4. culture emphasizes teamwork & allows risk taking
Term
four barriers to effective management
Definition
1. objectives are fuzzy
2. too much trust in informal feedback
3. employees resist new measurement systems
4. too much measuring activities instead of results
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