Management 300 Test 2 study guide
Management 300 Test 2 study guide MGMT 300
Popular in Principles of Management
verified elite notetaker
Popular in Business, management
verified elite notetaker
This 6 page Study Guide was uploaded by Austin Novak on Monday February 29, 2016. The Study Guide belongs to MGMT 300 at University of North Dakota taught by Nikolaus Butz in Spring 2016. Since its upload, it has received 47 views. For similar materials see Principles of Management in Business, management at University of North Dakota.
Reviews for Management 300 Test 2 study guide
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 02/29/16
Vocabulary Words to review for test Ch. 6 BCG Matrix Business plan Competitive intelligence Execution Grand strategies (Growth, Stability, Defensive) Mission & Vision Statement Porter’s five forces (Threat of New Entrants, Bargaining Power of Suppliers, Bargaining Power of Buyers, Threats of Substitute Products or Services, Rivalry among Competitors) Porter’s four competitive strategies/generic strategies (Cost-leadership strategy, Focused cost strategy, Differentiation strategy, Focused-differentiation strategy) Single-product strategy vs. Diversification (Related Unrelated) Strategic Control Strategic Fit Strategic Goals/Trade offs Strategic Management (definition + 3 Reasons an Organization should adopt Strategic Management) Strategic Management Process (5 Steps + Feedback loop) Strategic positioning (Broadly defined needs/Many Customers, Narrowly defined needs/Many Customers, Broadly defined needs/Few Customers, Narrowly defined needs/Few Customers) Strategy Strategy formulation Strategy implementation Sustainable Competitive Advantage SWOT analysis/situational analysis (strengths, weaknesses, opportunities, threats) Ch. 7 Analytics (business analytics) Brainstorming/Electronic brainstorming/Delphi technique Consensus Decision Decision Making - Effective Reactions (Importance, Credibility, Urgency) Decision Making - Ineffective Responses (Relaxed avoidance, Relaxed change, Defensive avoidance, Panic) Decision Making Biases/Heuristics (Availability bias, Representativeness bias, Confirmation/prior hypothesis bias, Sunk cost, Anchoring/adjustment bias, Overconfidence bias, 20-20 Hindsight bias, Framing bias, Escalation of commitment bias) Decision Making Models (Rational model/classical model and its stages, Nonrational models of decision making/Bounded rationality/Satisficing/Incremental/Intuition) Decision Making Style Dimensions (Value orientation, Tolerance for ambiguity) Decision Making Styles (Directive, Analytical, Conceptual, Behavioral) Decision tree Ethical Decisions Making Group Decision Making (5 Advantage, 4 Problems, 4 tips for managers) Groupthink Participative management (PM) Risk propensity Ch. 8 Contingency design Differentiation vs. Integration Line vs. Staff positions Organization vs. Mechanistic Organizations Organizational Culture Organizational Culture – For Enhancing Performance (Strength Perspective, Fit Perspective, Adaptive Perspective) Organizational Culture – Four Main Function (Organizational Identity, Collective Commitment, Social Systems stability, Sense-making device) Organizational Culture – Four Main Types (Clan Culture, Adhocracy, Market, Hierarchy) Organizational Culture – Levels (Artifacts, Enacted values, Espoused values, Assumptions) Organizational Culture – Mechanisms for Cultural Change (Formal statements, Slogans & sayings, Stories, legends, & myths, Leader reaction to Crises, Role modeling, training, & coaching, Physical Design, Rewards, titles, promotions, & bonuses, Organizational goals & performance criteria, Measurable & controllable activities, Organizational structure, Organizational systems & procedures) Organizational Culture – Visible forms (Symbol, Stories, Heroes, Rites and rituals) Organizational Design - Boundaryless (Hollow/Network structure, Modular structure, Virtual) Organizational Design - Horizontal (Cross-functional teams) Organizational Design - Traditional (Simple Structure, Functional Structure, Divisional Structure, Product divisions, Customer Divisions, Geographic Divisions, Matrix Structure) Organizational Design/Structure Organizational Elements (Common Purpose, Coordinated Effort, Division of labor, Hierarchy of authority, Span of Control, Authority, Centralization vs. Decentralization) Organizational Life Cycle (Birth stage, Youth stage, Midlife stage, Maturity stage) Organizational Types (For-profit, Nonprofit, Mutual-Benefit) Ch. 9 Compensation (Wages/salaries, Incentives, Benefits) Development Employee movement (Promotion, Transfer, Demotion, Dismissal) Grievance (Mediation, Arbitration) Human Resource Law – 4 Areas (Labor Relations, Compensation & Benefits, Health & Safety, Equal Employment Opportunities) Human Resource Management Human Resource Management – 3 Key Resources (Human Capital, Knowledge Worker, Social Capital) Internal vs. External recruiting Job analysis/description/specification Objective vs. Subjective appraisals Orientation Performance appraisal (Formal, Informal, conducted by Managers, conducted by Peers and subordinates, conducted by Customers and clients, Self-appraisals, 360-Degree, Forced Ranking) Performance management Realistic job preview Recruiting Selection process (Background information, Unstructured Interviews, Structured Interviews, Employment tests, Situational interview, Behavioral-description interview, Ability Tests, Performance Tests, Personality Tests) Sexual harassment (Quid pro quo, Hostile environment, 6 things managers can do to prevent harassment) Strategic human resource planning (Understanding current employee needs, predicting future employee needs, Human resource inventory) Training Unions (Collective bargaining, Two-tier wage contracts, Right-to-work laws, Cost-of- living adjustment clause, Givebacks) Workplace discrimination (Adverse impact, Disparate treatment, Affirmative action) Ch. 10 Areas where Change is Often Needed (People, Technology, Structure, Strategy) Benchmarking Change agent Collins’s Five Stages of Decline (Hubris, Undisciplined Pursuit of More, Denial, Grasping for Salvation, Capitulation to Irrelevance or Death) Creativity Fear of Change (Adaptive change, Innovative change, Radically innovative change) Fostering Innovation (Recognize Problem/opportunities, Gain Allies, Overcome resistance, Execute well) Incremental vs. Radical innovation Innovation Inside (Demographic characteristics, Market changes, Technological advancement, Shareholder & Customer demands, Supplier practices, Social & political pressures) vs. Outside Forces of Change (Employee problems, Managers’ behavior) Kurt Lewin’s 3 Stage Model of Change (Unfreezing, Changing, Refreezing) Organizational Development (Prerequisites, Uses, Process) Product vs. Process innovation Reactive change vs. Proactive change (planned change) Resistance to change (Predisposition, Fear of unknown, Climate of mistrust, Fear of failure, Loss of status or job security, Peer pressure, Disruption of cultural traditions, Personality conflicts, Lack of tact or poor timing, Non-reinforcing) Seeds of innovation (Hard work in a specific direction, Hard work with direction change, Curiosity, Wealth & Money, Necessity, Combination of Seeds) Technology Trends Shaping the Future of Business (More Segmentation & Niches, Faster Speed- to-Market, Radically Innovative Change, Offshore Suppliers, Knowledge)
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'