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UIC / Business Management / MGMT 340 / How do cognitive factors influence personality?

How do cognitive factors influence personality?

How do cognitive factors influence personality?

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Study Guide Exam 1 MGMT 340 Professor Thompson


How do cognitive factors influence personality?



Chapter 1

Innovation Matters

• It is the new imperative  

• Without innovation no company can survive in the long run  

• It should be apart of products, processes, people and values!

• A good example would be the Grateful Dead.  

• Innovation is what keeps companies changing and growing

Management

• handling organization goals is an effective and efficient manner through planning,  organizing, and controlling resources.

What Managers do

1. Sets Objectives - establish goals and decide how to achieve them 2. Organize - Divide work and select people best fit for the tasks

3. Motivate and Communicate - create a teamwork environment! via pay, promotions  and communication  


How do you divide tasks among employees?



Don't forget about the age old question of What are the tall towers adjoining a mosque called?

4. Measure - set targets and standards, appraise performance!  

5. Develop people - realize the value of employees and motivate them to become  critical company assets!  

Four functions of Management

1. Planning - set goals and how to reach them

2. Organizing - assign tasks  

3. Leading - use influence to motivate  

4. Controlling - monitor activities and make corrections  

Organizational Effectiveness

• providing a service or product people value  

Organizational Efficiency

• the amount of resources used to achieve the goal

3 Categories of skills

1. Conceptual  

2. Human  

3. Technical


How can you promote effective communication and teamwork?



Study Guide Exam 1 MGMT 340 Professor Thompson

• those degree of skill levels vary but ALL managers need to have those skills • those skills change as you move up the manager hierarchy  Don't forget about the age old question of What are the factors of social environment?

When Skills fail

• biggest reason for failure is communication  

• during harsh times managers MUST apply their skills

Common Failures

• Not listening to customers  

• Misunderstanding signals from the marketplace  

• Not exciting strategies properly  

• Not building teams  

• Not being able to adapt to change  

• Poor communication skills  

Becoming a new manager

• often promote star performers  

• is a transformation

• build teams and networks  

• “trial by fire” which means fail to learn  

• task change as you transition from a “doer” to a manager  

Manager activities

• Multitasking  

• activities characterized by variety, fragmentation, and brevity  

• should take less than 9 min for each activity  

• Managers should shift gears quickly  

• work at a VERY fast pace

• Interrupted by disturbances daily  

• always working and catching up

Manager Role

• the expectations for a managers behavior  We also discuss several other topics like Why is the shape of a neuron important to its function?
We also discuss several other topics like What is the difference between an independent variable and a dependent variable?
We also discuss several other topics like In what year did the articles of confederation is established?

• every role done by a manager accomplishes the 4 functions, planing, organizing,  leading and controlling.  

• important to understand and not discrete activities

Study Guide Exam 1 MGMT 340 Professor Thompson

• management can not be practices as independent parts

• need time to plan and think

• divided into 3 conceptual categories  

Informational

• Monitor  

• Disseminator  

• Spokesperson  

Interpersonal

• Figurehead  

• Leader

• Liaison

Decisional

• Entrepreneur  

• Disturbance handler  

• Resource allocator  

• Negotiator  

Small Business vs. Nonprofit

• small businesses are growing, bad management is a threat, roles for small  businesses differ, more or a spokesperson, those managers MUST promote the  business  If you want to learn more check out What are the characteristics of autism spectrum disorders?

• nonprofit needs management talent that tries to make social impact, focus on keeping  costs low, need to measure things such as improving public health Management Competencies Today

• Instead of being a controller, be a enabler! help people do their best, form  collaboration, empower employees and mobilize for change.  

Forces

• Social force is a culture that guides and influences the relationships among people  • Political force is influence on political and legal institutions on people and organization • Economic force is the availability, production and distribution of resources.  Classical Perspective

• 19th to early 20th century

Study Guide Exam 1 MGMT 340 Professor Thompson

• rise of factory system

• issues regarding structure, training and employee satisfaction  

• large organization require new coordination and control  

Three subfields

• Scientific management - Fredrick Taylor, improved efficiency and labor production  through scientific methods, Henry Gantt developed chart to measure and plan work,  Gilbreths pioneered time & motion studies to promote efficiency, characteristics are  general approach, contributions and criticisms

• Bureacratic Organizations - division of labor with clear authority and responsibility,  positions are organized in hierarchy, managers must follow rules, everyone get equal  treatment and knows the rules

• Administrative Principles - focused on the organization as a whole, Henri Fayol, may  still be used today, this identifies the 5 functions of management. Planning, organizing,  commanding, coordinating, and controlling.  

Humanistic Perspective : Early advocates  

• understand human needs and behaviors in a workplace  

• Mary Parker Foyett and Chester Barnard

• contrast to scientific management, importance on people than techniques Human relations movement

• effective control comes from within the employee

• Hawthorne studies where key contributor

• Employees performed better when treated better by managers  

Human Resources Perspective or human capitol  

• humans are assets to be enhanced not to be minimized  

• combine motivation with job design  

• Maslow and Mcgregor  

• theory x and y  

• Maslows hierarchy  

Theory X

• average human dislikes work  

• most people need to be and prefers to be directed and controlled

Study Guide Exam 1 MGMT 340 Professor Thompson

Theory Y

• average human does not dislike work  

• external control and threat of punishment bring out motivation  

• accept and seek responsibilty

Behavioral Science approach  

• scientific methods + sociology, psycology, anthropology, economics to develop  theories of human behavior and interaction in an organizational setting • organizational development - uses behavior science to improve organization  • other strategies based on behavioral science

Management Science

• referred to as quantitative perspective  

• use of math and statistics to help management decision making  

• enhanced by computer and development  

Operations management

• focuses of physical productions of goods and services  

Information technology

• focuses on technology and software aid to managers  

Quants

• financial managers who base their decision on complex quantitative analysis  Systems thinking

• being able to see the distinct elements of a situation as well as the complexities  System

• set of related parts that function a a whole to achieve the goal/purpose  Subsystems

• are parts of the system that are all interconnected  

Synergy

• the whole is greater than the sum of its parts  

Contingency views

• effectiveness depends on the situation or management  

• no one best way  

• every situation is unique

Study Guide Exam 1 MGMT 340 Professor Thompson

Universalist view

• one best way  

Total Quality management

• quality is determined by customer expectation  

• don’t inspect after, inspect during!

• associated with Japan

• Deming is the “father of TQM”

• put high-quality values in every activity  

Four elements of quality management

• Employee involvement  

• focus on the customer

• benchmarking  

• continuous improvement  

Innovative management

• thinking for a changing world  

• New ideas peaking in fewer than 3 years  

How to become a driven workplace

• add social media programs  

• customer relationships management  

• outsourcing - cut costs by contracting activities to other organizations  • supply chain management - managing supplier and purchaser relationship to get  goods to customer

Chapter 13

Communication is the managers JOB

• organizations DEPEND on effective communication  

• managers spend 80% of their day communicating  

• 48 min of every hour spent communicating

• communication is apart of every management function  

• managers communication should be purpose-directed  

What is communication?

Study Guide Exam 1 MGMT 340 Professor Thompson

• information is exchanged and understood between two or more people, usually used  to motivate or influence behavior  

• communication can break if the send or receiver do not decode the info in the right  way

• cultural differences can add to communication challenge

Communication Channels  

• managers must choice the appreciate channels to convey messages  • routine vs. non routine messages

• each communication channel has its advantages and disadvantages  Channel richness

• how much in formation can be communicated through a channel in one setting Communication to persuade and influence

• ability to persuade and influence people is CRITICAL  

• issuing directions is no longer an affective way to get things done  • to persuade and influence managers must communicate easily and frequently  • communication apprehension is the avoidance of due to fear/anxiety Gender difference in communication  

• Managers must be aware of factors that influence communication  • for women talking means conversation, they want to connect, involve and participate  through communication, women want to belong and be apart of something • men use verbal communication to show knowledge and skill, they want to show off  and see who knows most

Non-verbal communication  

• message sent through actions and behavior

• body language  

• facial expression  

• gestures

• touch

• use of space  

• can show through enthusiasm, warmth, confidence, and displeasure  Listening

Study Guide Exam 1 MGMT 340 Professor Thompson

• skill of understanding both facts and feelings to interpret the messages meaning  • listening to customers and employees are important  

• info flows from bottom up

• feedback is important  

• blogs and social media is important to keep in touch  

Organizational communication

• managers are responsible for establishing and maintaining formal communication  • formal communication channels flow within the chain of command  • communication in organizations are downward, upward and horizontal Downward communication

• refers to the info sent from top management to subordinates  

• management can do a better job at this by focusing on specific areas that require  regular communication  

• major problem is drop-off

Upward Communication

• messages that flow from lower to higher levels if the hierarchy  

• healthy flow of upward and downward channels is necessary  

• used to interpret  

Horizontal communication

• the communication between all employees across all departments  • not only to inform but to request support  

• intradepartmental is the same department  

• interdepartmental is the different departments of the same organization  Personal communication channels  

• may exist within formal channels  

Personal communication network  

• is personal networking across organizational boundaries  

The grapevine “gossip”

• can be valuable tool for managers because it links people across the organization  Written communication  

• is a key skill with the increase usage of email and collaboration

Study Guide Exam 1 MGMT 340 Professor Thompson

Network tips  

• build it before you need it  

• Never eat lunch alone  

• Make it a win-win

• focus on diversity  

Tips for improving writing

• respect the reader  

• know your point and get to it  

• write it clearly  

• get a second opinion  

Crisis communication

• communication is very important during critical times  

• stay calm, be visible, get the awful truth out, communicate a vision for the future  Chapter 15  

Controlling

• managers use a variety of measures to monitor performance  

• controlling work process  

• regulating employee behavior  

• systems of financial resources  

• developing human resources  

• evaluating probability  

Organizational control

• when managers regulate organizational activities to make them consistent with  expectations established in plans, targets, and standards of performance  Feedback control System

• establish standards of performance  

• Mesure actual performance  

• compare performance to standards  

• take corrective action  

Steps to establishing strategic goals

1. Establish standards of performance

Study Guide Exam 1 MGMT 340 Professor Thompson

2. Measure actual performance  

3. compare performance to standards  

4. take corrective action  

The balance scorecard

• balanced perspective of company performance  

• integrates various areas of organization  

• managers need to record, analyze, and discuss the metrics  

• serves as the core core-management control system  

Major 4 aspects of the scorecard

• Financial performance  

• Customer service  

• Internal business Process  

• Potential for learning and growth  

Budgetary Control

• setting targets and monitoring expenditures

• budgets list planned and actual expenditures  

• budgets are associated with a division or department  

• the unit of analysis for budgeting is the responsibility center

Budgets mangers use

• expense budget

• revenue budget  

• cash budget  

• capital budget - top down and bottom up budgeting  

• zero-based budget  

Financial control

• balance sheet shows firms financial position and income statement highlights firms  financial performance.  

Interpreting the Numbers  

• managers need to evaluate financial reports  

• comparing performance with other data and industry standards  

• Financial analysis consist of ratios and statistics

Study Guide Exam 1 MGMT 340 Professor Thompson

• review includes profits, assets, sales and inventory  

Hierarchical controls  

• monitoring behavior through rules, policies, reward systems, and written  documentation  

Decentralized controls

• based on values and assumptions, rules are only used when necessary  • culture is adaptive, uniting individuals and teams  

Open book Management

• decentralized philosophy  

• gets every employee to think like an owner  

• information sharing and teamwork  

• allows employees to see the financial condition of company  

• sees how his/her job fits into organizational success  

Top-quality Management  

• infuse quality into every aspect of the business, all day to day activities  • focuses on teamwork, collaboration, identifying improvements  

• goal is ZERO DEFECTS

TQM techniques

• quality circles  

• benchmarking  

• six sigma  

• quality partnering  

• continuous improvement  

Five-step Benchmarking process

1. Plan  

2. find

3. collect

4. analyze

5. improve  

International Quality Standards  

• ISO 9000 standards aka International Organization for Standardization

Study Guide Exam 1 MGMT 340 Professor Thompson

• Organization certification  

• 157 countries  

• Organizations demonstrate a commitment to quality  

• Europe lead in certification but US had most new certification in recent years  Corporate Governance

• goes beyond rules from the top to safeguard shareholders  

• ensures accountability, fairness, and transparency

Chapter 4

Managerial ethics  

• ethics is the code of moral principles and values that determine right or wrong  • standards about good and bad  

• ethical issue can be complex  

• people in organizations have divergent views of right and wrong  Three domains of human action

• Domain of codified law (legal standard)

• Domain of ethics (social standard)

• Domain of free choice (personal standard)

Ethical Management today

• ethical lapses during the last decade have been pervasive  

• corporations and people are obsessed with greed, deceit, irresponsibility and lack of  moral conscience  

• managers carry a big responsibility for setting an ethical climate  

• ethical crises have brought ethical management to the forefront  

Utilitarian approach

• moral behavior produces the greatest good for the greatest number  Individualism approach

• acts are moral if they promote the individuals long term interest  

Moral-rights approach  

• humans have fundamental rights and liberties that can not be taken away by an  individuals decision  

Justice approach

Study Guide Exam 1 MGMT 340 Professor Thompson

• moral decisions must be based on standards of equity, fairness, and impartiality.  includes distributive justice, procedural justice, compensatory justice  Practical approach

• bases decisions on prevailing standards, society and all stakeholders  Managers ethical choices

• individuals bring their own personality to organizations  

Three levels to personal moral development  

1) Preconventional  

2) Conventional  

3) Postconventional  

What is corporate social responsibility?

• learning difference between right and wrong, doing right  

• good corporate citizenship  

• make choices that contribute to society and stakeholders  

• stakeholders are any group within or outside  

The green movement

• going green is a new business imperative

• more organization are embracing sustainability  

• you will get scrutiny if you don't go green or harm the environment  The ethic of sustainability

• generates wealth and meets the needs of current generation while preserving the  environment for future generations  

Corporate hierarchy

• Economic responsibility  

• legal responsibility  

• ethical responsibility  

• discretionary responsibility  

Code of Ethics  

• statement of the company’s values regarding ethics and social issues  Ethical structures

• systems, positions, and programs like ethics training

Study Guide Exam 1 MGMT 340 Professor Thompson

Whistle-blowing

• employee disclosure of illegal, immoral, or illegitimate mate practices  Ethics and Social Responsibility

• integrity and trust are essential elements in sustaining successful and profitable  business relationships.

Study Guide Exam 1 MGMT 340 Professor Thompson

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