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Management Chapters 5-9 Study Guide

by: Alicia Notetaker

Management Chapters 5-9 Study Guide MGT 2010

Marketplace > Clemson University > Business, management > MGT 2010 > Management Chapters 5 9 Study Guide
Alicia Notetaker
GPA 4.0

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About this Document

The first page is a real study guide and the rest is just the notes I took for every chapter in case you need them! Hope it's helpful!
Principles of Management
Tina Robbins
Study Guide
Management, MGT
50 ?




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This 45 page Study Guide was uploaded by Alicia Notetaker on Monday February 29, 2016. The Study Guide belongs to MGT 2010 at Clemson University taught by Tina Robbins in Spring 2016. Since its upload, it has received 335 views. For similar materials see Principles of Management in Business, management at Clemson University.

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Date Created: 02/29/16
Management 2010 Ch 5-9 Study Guide Should understand meaning and use of the terms and concepts  Planning  Strategy  Strategic Management  Mission & Vision Statements o What kinds of questions should they answer?  Types of planning o Strategic Planning o Tactical Planning o Operational Planning  SMART Goals o Specific, Measurable, Attainable, Result Oriented, Target Dates  Management by Objectives (MBO) o Jointly set objectives o Develop action plan o Periodically review performance o Giver performance appraisal & rewards o How does MBO work? How is it structured?  Deadlines in the workplace  4 step planning/control cycle  Business model  Business plan  Competitive Advantage  Why is planning and strategy important?  Strategic positioning o Strategy o Trade-Offs o Creating a “fit”  How do small and large firms use and benefit from strategic planning differently?  Strategic Management Process o Establish mission & vision o Assess current reality o Formulate grand strategy o Implement strategy o Maintain strategic control  Competitive Intelligence  Environmental Scanning  SWOT Analysis o Inside matters o Outside matters o Organizational strengths & weaknesses o Organizational opportunities & threats  Forecasting o Trend analysis o Contingency planning o Benchmarking  Porter’s 5 competitive forces o Threats of new entrants o Bargaining power of suppliers o Bargaining power of buyers o Threats of substitutes o Rivalry among competitors  Decision & Decision making process  Rational model of decision making o Identify problem o Find alternative solutions o Evaluate solutions and select best one o Implement and evaluate chose solution  Successful implementation  Evaluation *** This model shows what managers SHOULD do, not what they actually do  Nonrational decision making models o Satisficing o Intuition  Decision Tree o Is it legal? o Does it maximize shareholder value? o Is it ethical? o Is it ethical NOT to take action?  Ethics officer  Evidence based management  Analytics o Use of modeling o Having multiple applications o Support from the top  Portfolio analysis  Big Data o Big Data analytics  Ineffective reactions to a decision o Relaxed avoidance o Relaxed change o Defensive avoidance o Panic  Effective reactions to a decision o Importance o Credibility o Urgency o Deciding to decide  Heuristics  Decision Making Biases o Availability o Representativeness o Confirmation o Sunk-cost o Anchoring & Adjustment o Overconfidence o Hindsight o Framing o Escalation of commitment  Group Decision Making o Advantages & Disadvantages  Consensus  Group Problem- Solving techniques o Brainstorming o Delphi Technique o Computer Aided  Two Decision-Making Systems o Intuitive & largely unconscious o Analytical & conscious  Person- Organization Fit  Organizational Culture o Clan o Adhocracy o Market o Hierarchy  Organizational Structure o Observable Artifacts o Espoused Values o Basic Assumptions  How Employees Learn Culture o Stories o Heroes o Symbols o Rites & rituals o Importance of culture  Organization & organizational chart o Vertical hierarchy o Horizontal hierarchy  Common elements of organizations o Common purpose o Coordinated effort o Division of labor o Hierarchy of Authority  Flat organization  Unity of command o Span of control  Narrow span  Tall span o Authority, responsibility, and delegation  Responsibility  Delegation  Line position  Staff position  Accountability o Centralization  Decentralized authority  Centralized authority  Organization’s structure o Environment- mechanist v organic o Environment- differentiation v integration o Link between strategy, culture, and structure o Contingency design  Human Resource (HR) management  Human Capital  Knowledge Workers  Social Capital  HR Planning o Strategic HR planning  Current needs  job description  job analysis  job specifications  Future needs  Staffing needed  Sources for staffing  HR inventory  Recruitment o Internal & External o Realistic job previews  Selection o Background o Interviewing  Unstructured  Situational  Behavioral Description o Employment tests  Ability  Performance  Personality  Integrity  Reliability and validity  Compensation o Wages/Salaries  Base pay o Incentives o Benefits  Legal Requirements of HR Management o Labor Relations  National Labor Relations Board  Collective Bargaining o Compensation  Fair labor standards act o Equal Employment Opportunity (EEO)  Workplace discrimination o Adverse Impact o Disparate Treatment o Affirmative Action  Sexual harassment o Quid pro quo harassment o Hostile environment harassment o What can managers do to prevent this?  Bullying o What is it? o How can we combat bullying?


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