Exam 2 Study Guide
Exam 2 Study Guide MGT 300
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This 4 page Study Guide was uploaded by Canon John on Wednesday March 4, 2015. The Study Guide belongs to MGT 300 at University of Alabama - Tuscaloosa taught by Badrach in Fall2015. Since its upload, it has received 107 views.
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Date Created: 03/04/15
Definition of Management 1 The pursuit of organizational goals efficiently and effectively by 2 Integrating the work of people through 3 Planning organizing leading and controlling the organization39s resources 7 challenges of effective managing manage for competitive advantage the ability of an organization to produce goods or services more effectively than competitors do outperform EX Amazon customer service Ex Apple innovation newspapers lost the competitive advantage manage for diversity future doesn39t resemble the past challenge to manage people of different races genders ages ethnics manage for globalization expand to foreign markets expand from local to global manage for info technology emanagement and ecommunication faster decisionmaking more conflict and increased stress changes in organizational structure jobs goal setting and knowledge ex using Skype to conference or customer feedback on websites manage for ethical standards ethical dilemmas amp business scandals manage for sustainability go green and respect the environment ex Walmart and renewable energy sources manage for your happiness love your job 4 functions of management 1 planning 2 Organizing 3 Controlling 4 leading planning you set goals and decide how to achieve them organizing you arrange tasks people and other resources to accomplish the work controlling you monitor performance compare it with goals and take corrective action as needed leading you motivate direct and influence people to work hard to achieve the organization39s goals 3 levels of management 1 top determine overall direction CEO COO 2 middle implement policies and plans regionaldistrict manager 3 firstline direct daily tasks department head supervisor 3 managerial roles 1 interpersonal roles interact with people inside and outside their work units figurehead leader liaison 2 informational roles receive and communicate information monitor disseminator spokesperson 3 Decisional roles use information to make decisions to solve problems or take advantage of opportunities entrepreneur disturbance handler resource allocator negotiator entrepreneur the process of taking risks to create a new enterprise sees opportunity and launches a business skills and traits of managers 1 technical skills jobspecific knowledge need to perform well in a specialized field 2 conceptual skills ability to think analytically and understand how an organization39s parts work together 3 human skills ability to work well with other people to get things done types of stakeholders the people whose interests are affected by an organization s activities 1 Internal stakeholders consist of employees owners and the board of directors 2 External stakeholders are people or groups in the organization s external environment that are affected by it external the general environment stakeholders economic forces technological forces sociocultural forces demographic forces politicallegal forces international forces customers competitors suppliers distributors allies unions lenders governments interest groups media ethical dilemma situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal ethics standards of right and wrong that influence behavior values relatively permanent and deeply held underlying beliefs and attitudes that help determine a person s behavior 4 approaches to deciding ethical questions Utilitarian approach guided by what will result in the greatest good for the greatest number of people Costbenefit analysis if benefits exceed costs then its considered ethicaldropping the a bomb Judging The Appropriateness Of A Particular Action Based On A Goal To Provide The Greatest Good For The Greatest Number Of People individual approach guided by what will result in the individual s best long term interest which ultimately are in everyone s self interest lndividual acts ethically in the short run to avoid others harming the individual in the long run Guided by what will result in the individuals best long term interests which ultimately are in everyones self interest which ultimately are everyones self interest moralrights approach guided by respect for the fundamental rights of human beings Life liberty health safety Bill of Rights Humans have fundamental rights and liberties that cannot be taken away by an individual39s decision justice approach guided by respect for impartial standards of fairness and equity lmpartial treatment in decisions regardless respect for impartial standards of fairness and equity Kohlberg39s Phases Learning Ethics Preconventional based on selfinterest follows rules Stage 1 Bad behavior punished Stage 2 Good behavior rewarded conven onal gaining other39s approval follow expectations of others Stage 3 GoodBad behavior determined by approval by others Stage 4 GoodBad behavior determined by social institutions church university government postconventional based on universal abstract principles guided by internal values Stage 5 Good behavior conforms to democratically set social standards Stage 6 Good behavior is a matter of conscience based responsibly chosen ethical principles ethical training SARBANESOXLEY ACT 2002 Established requirements for proper financial record keeping for public companies and penalties of as much as 25 years in prison for noncompliance Resulted from a series of corporate scandals WorldComamp Enron in the late 90 s Organizations can promote ethics 1 Create a strong ethical climate 2 Screen prospective employees 3 Institute ethics codes amp training programs 4 Reward Ethical behavior Protect whistleblowers corporate social responsibility notion that corporations are expected to go above and beyond following the law and making a profit Example buying ethical coffee or enforcing law rules on foreign suppliers 1 Be a good global corporate citizen 2 Be ethical in its practices 3 Obey the law 4 Make a pro t in order Four types of Organizational Culture Clan has an internal focus and values exibility rather than stability and control Encourages collaboration among employees strives to encourage cohesion through consensus and job satisfaction amp increase commitment through employee involvement Adhocracy has an external focus and values exibility Creates innovative products by being adaptive creative and quick to respond to changes in marketplace Employees encouraged to take risks and experiment w new ways of getting stuff done Ends Innovation growth cutting edge output Ex google also great for startups Market has a strong external focus and values stability and control Driven by competition amp strong desire to deliver results Customers productivity and pro ts take precedence over employee development and satisfaction Employees are expected to work hard react fast and deliver quality work on time Deliver results rewarded Ex Kia Motors Hierarchy has an internal focus and values stability and control over exibility Formalized structured work environment aimed at achieving effectiveness through variety of control mechanisms that measure ef ciency timeliness and reliability in the creation and delivery of products Ex GM UPS Three Levels of Organizational Culture Level 1 Observable Artifacts Physical manifestations such as manner of dress awards myths and stories about the company rituals and ceremonies and decorations as well as visible behavior by managers and employees Level 2 Espoused Values The explicitly stated values and norms preferred by an organization Ex Hp quotthe Hp WA quot Level 3 Basic Assumptions Not observable represent the core beliefs that employees have about their organization those that are taken for granted and as a result dif cult to change Ex AIG worked so hard quotTGIF only 2 working days til Mondayquot Vertical Hierachy of authority Who reports to whom Glance up and down on a organizational chart Horizontal Specialization Who specializes in what work Glance to left and right on organizational chart shows different jobs or specializations Horizontal Design organization Eliminating functional barriers to solve problems teams are used to improve collaboration and work on shared tasks by breaking down internal boundaries Functional Design Vertical People with similar occupational specialties are put together in formal groups The Environment Mechanistic vs Organic Organizations Burns and Stalker Model Mechanistic organization authority is centralized tasks and rules are clearly speci ed and employees are closely supervised Bureaucratic with rigid rules and topdown communication Ex McDonalds Organic Organizations Authority is decentralized there are fewer rules and procedures and networks of employees are encouraged to cooperate and respond quickly to unexpected tasks quotloose structurequot exibility work best Ex Motorola The Environment Differentiation Vs lntegration Lawrence amp Lorsch model Proposed a differentiation integration dimension forces that impelled parts of organization to move apart or to come together rather than a mechanisticorganic dimension Differentiation When forces push the organization apart The tendency for parts of an organization to disperse and fragment Ex A company that produces dental oss an deodorant might have diff product divisions each with its own production facility and sales staff lntegration When forces pull the organization together The tendency of parts of an organization to come together to achieve a common pupose 4 Stages of Life Cycle of company Stage 1 The birth stage nonbureaucratic stage in which organization is created No written rules and little if any supporting staff beyond perhaps a secretary Stage 2 The Youth Stage The organization is in a prebureaucratic stage a stage of growth and expansion People are being added to payroll more clerical and some division of labor and setting of rules being instituted Stage 3 The Midlife Stage The organization becomes bureaucratic a period of growth evolving into stability Organization now has a formalized bureaucratic structure staffs of specialists decentralization of functional divisions and many rules Stage 4 The Maturity Stage The organization becomes very bureaucratic large and mechanistic The danger is lack of exibility and innovation
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