MGMT 370 Exam 1 Study Guide
MGMT 370 Exam 1 Study Guide MGMT 370
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This 6 page Study Guide was uploaded by Sin Yong Tan on Sunday February 7, 2016. The Study Guide belongs to MGMT 370 at Iowa State University taught by Professor Smith in Winter 2016. Since its upload, it has received 114 views. For similar materials see MANAGEMENT OF ORGANIZATIONS in Business at Iowa State University.
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Date Created: 02/07/16
Exam 1 Chap 1 (Mgmt in general) Nature: Use resources reach objective mgmt. purpose = use resources effectively and efficiently , achieve with min. cost. Mgmt activities common characteristics: a. within context of organization b. manager in charge of resources, and use to reach goal Impact: mgmt. = decision making process, affect others mgmt. characteristics: leadership, decision making, implementing work tasks Leadership: influences other to common goal Decision making: choose among several options Implementing work task: carry out work decision Primary stakeholders: Employees, Shareholders, Suppliers, customer, Communities, Government regulators Function: Planning: What goal and how to goal Organizing: design job department develop relationship within organization to carry out plan Leading: influence other to reach goal Controlling: ensure organization’s action can reach goal Decision making process: Gather info use info make decision implement decision Henry Mintzberg specific role: Interpersonal role: interaction with internal and external, and all level of manager Figurehead, Liaison, Leadership informational role: focus obtain data for decision making Monitor, disseminator, spokesperson Decisional role: Allocation of resources to reach goal Entrepreneur, Disturbance handler, Resource allocator, negotiator (See slide 11 for examples) Mgmt general skills: Interpersonal skill, Technical skill, conceptual skill (Slide 12: Specific skills) Manager job different because: The area & level of management Organizational size and culture Industry Whether the organization is forprofit or nonprofit Pyramid of mgmt.: CEO, Upper, middle, first line management Element of organization culture: Values, norms, behaviour, artifacts Emerging trends: ebusiness, global organization, ethics and social responsibility (ethical decision) Learning mgmt. in class: sources of info basic principle used in decision making fundamental of decision Job specific skills needa learn in working environment Chap 2 (Approaches) History: Capitalism + Industrial revolution modern management above changes cause industrial chaos + low productivity management = critical factor of production Approaches: 1) Classical Approach: (Work/task) focus manager’s role in formal hierarchy, focus task, machine, system needed to complete task 2 component: scientific + administrative mgmt. Scientific mgmt.: study task, methods, and tools to improve work efficiency F.Taylor: “Best way” select, train, teach worker cooperate with worker to ensure work is done in best way divide work equally between mgmt. and worker Taylor’s assumptions: mutual interest human = rational + economically motivated willing to work = got work suitable for u Administrative mgmt.: Universality : Apply to all organization Henri Fayol: mgmt. = universal process, 5 fn. & develop principles Planning, Organizing, Coordinating, Controlling, Commanding Max Weber: Bureaucy + rational authority and management by position Contributions: Emphasize work, done things efficiently criticize: ignored human aspect Basic purpose: Improve standard of living, quality of all member of organization 2) Behavioural Approach: (Human) focus human behaviour, needs and attitude Mary parker Follet: integration unity, shared power, human cooperation Howthorne studies: make manager realise the importance if worker’s social needs , human relation movement Abraham Maslow: 5 needs Safety, Physiological, social, selfesteem, self actualization 3) System approach (Environments) organization and environment: sets of interrelated parts to be managed as a whole Chester Barnard: cooperative syst & acceptance theory of authority, adjust effectively to changing environments W.Edward Deming: quality = driver of profit =/= cost of business 4) Contingency Approach (No best way to manage) Bridge gap between theory and practice find key variable in each mgmt. situation…relationship of variable…cause and effect… st 21 century mgmt.: Peter Drucker’s: knowledge worker, longterm sustainability, corporate social responsibility = important part of mgmt. Peer Senge: constant learning through continuous improvement & adaptation. Chap 3 (Environment) 3 component of environment: General Environment: external factor: Affect all organization, exp: economic, politic, tech, socioculture Task Environment: External factor: specific to organization, exp: customer, supplier, competitor Internal env. : All the factor that make up the company: owner, employee, managers 1) General Env,: Sociocultural: demographics and the values of the society within firm politicallegal: government vs organization Technological: process of changing inputs (resources, labor, money) to outputs (goods and services). Economic: overall condition of interaction of economics throughout the world Global: factor in other countries that affect company 2) Task Env: Suppliers, customers, substitutes, competitors, potential new competitors 3) Internal Env.: In small company, owner = all manager 3 type manager: Strategic / institutional, Technical, Operational Employee: Unionized (more formal) or nonunionized Changing demographics: creating an older and more culturally diverse work force. Technological change: forcing employees to acquire more complex skills. Corporate governance: the formal system of oversight, accountability, and control for organizational decisions and resources. Primary Stakeholder: SOBE (Supplier, Owner, Buyer, Employee) Stakeholder view of env.: Concern bout individual / organization that can affect the organization Primary stakeholder: have contract, ownership or monitoring of a legal obligation of the organization Secondary: no formal connection, but still can affect thru public opinion stakeholder influence the company from external. Identify stakeholder: stakeholder map: show stakeholder & their stake 3 type of stake: Equity interest, market interest, Influencing interest Gather stakeholder info: Allow company change/adapt changes to env. & develop plan to respond Info collecting technique: Survey, forcasting, trend analysis Manage external env. lessen threat grab opportunity Common interaction technique: ◦Public relations ◦Boundary spanning ◦Lobbying ◦Negotiation ◦Forming alliances ◦Organizational restructuring Importance of external env. Prob in receive and using info bout external env.: ◦Limited capability ◦Lack of information ◦Superfluous information ◦Current organizational constraints External env…two dimensions: homogeneity and change. Chap 4 (ethics) Business ethics: moral principles and standards that define acceptable behavior Ethical issue: identifiable problem, situation, or opportunity requiring a person or organization to choose from among several actions that may be evaluated as ethical or unethical Manager need to ensure their decision are consistent with company’s value/policy & legal standard ethical or not = depends on issue itself Factor influencing ethical decision: personal value: utilitarianism & deontology organizational relationship Opportunity: punish & reward Reducing unethical behavior establish and enforce ethical standards (tell what is acceptable + remove opportunity to act unethically) Adopt formal code of ethics and policies (tell what is expected & punish if x follow) support from top mgmt. Ethic training Ethic audits : Evaluate effectiveness of ethics and compliance program + find weakness encourage worker to report unethical behavior Social responsibility: max. “+”ve impact, min. “”ve impact on society Social responbility win trust & increase profit in long run gain competitive advantage Employer expected to provide a safe workplace, pay adequately, treat employee fairly, provide equal opportunity Consumerism protect rights of safety, to be informed, to choose, to be heard Responsible to Environment too! Social Audits: Evaluate Long and short term…check if social responsibility is working or not Allow firm to PINPOINT areas to improve & enhance Bonus Questions: 1. The primary purpose of the management process is to b. achieve organizational goals efficiently and effectively. 2. The definition of management considers a. goals. b. effectiveness. c. resources. d. efficiency. e. All of these choices 3. ____ means making the right decisions and then successfully implementing them. a. Efficiency b. Effectiveness c. Pervasiveness d. Controlling e. Leading 4. The purpose of planning and decision making is to a. enhance the company's image. b. monitor organizational progress. c. structure the organization for effective goal attainment. d. get the members of the organization to work together. e. serve as a guide for future activities. 5. Which of the following is the MOST common approach to the management of ethics? a. Top management support b. A multipage book of organizational policies and procedures c. An unwritten code of ethics d . A written code of ethics and top management support e. government regulation 6. Traditionally, experts have suggested a threestep model for applying ethical judgments to situations that may arise during the course of business activities. The first step is to a . gather the relevant factual information. b. appoint an ombudsman. c. locate a mediator. d. determine what is lacking in the organization culture. e. determine the most appropriate moral values. 7. Bernard Madoff defrauded clients out of millions of dollars. The probability that the employees of Madoff's have high ethical behavior is minimal due to a. a national culture that values ethical behavior. b . its top management fostering an inappropriate culture. c. a legal environment that prohibits unethical practices. d. an economic environment conducive to ethical practices. e. its lowpressure competitive environment.
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