Chapter 1 - The World of Innovative Management
What is the nature of management?
The nature of management is to motivate and coordinate others to cope with diverse and far-reaching challenges.
What are some examples of external organization environment that have a potential to affect an organization?
Competitors, resources, technology and economic condition
What is international Management?
International management is the management of business operations conducted in more than one country.
What are ethics?
Ethics is the code of moral principles and values that govern the behaviors of right or wrong.
What is Ethnocentrism?
Ethnocentrism refers to a natural tendency of people to regard their own culture as superior and to downgrade or dismiss other cultural values.
Management is the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources.
What are the two components of an organization external environment?
Task Environment and General Environment
What is globalization?
Globalization refers to the extent to which trade and investments, information, social and cultural ideas, and political cooperation flow between countries.
What are the 3 domain of human action?
Domain of Ethics - Social Standards
Domain of free choice - Personal Standards
The individual who must make an ethical choice in an organization is the ____________
Moral Agent or Manager
Double Jeopardy!!!!!
What are the 5 things managers do?
1 Set objectives
2 Organize
3 Motivate and Communicate
4 Measure success
5 Develop people
Double Jeopardy!!
what are two examples of task environment and two examples of general environment
Task environment examples: Customers,. Competitors, Suppliers and Labor Market
General environment: Technological, Natural, Sociocultural, economic, legal/political and international
Double Jeopardy !!!!!
A manager with a global mindset can perceive and respond to many different perspectives at the same time. What are those 3 perspective?
Cognitive dimension: knowing about the global environment and global business
Psychological dimension: emotional and affective aspect
Social dimension: ability to behave in ways that build trusting relationships with people who are different from oneself
What are the four types of ethical manager behavior?
1 Display honesty
2 Communicates and enforces ethical standards
3 Fair in decision making
4 Show kindness, compassion and concern for others
What is a stakeholder?
Stakeholder is any group or person within or outside the organization that has some type of investment or interest in the organization’s performance and is affected by the organization’s actions.
What are the 3 categories of management skills?
Conceptual, Human and Technical
What is an organization internal environment composed of?
Employees, management and especially corporate culture
What does MNC stand for?
Multinational Corporation
People prefer to work for companies that demonstrate a high level of ethics and social responsibility. What is an example of a company we discussed that is committed to sustainability and social responsibility?
Adidas Sport Company
What is the green movement?
Going green has become a new business imperative and is driven by shifting social attitudes, new governmental policies, climate changes, and information technology
According to Google, name 3 good manager's behavior
Be a good coach, empower your team, express interest in the team, don't be a sissy: Be productive, be a good communicator, help your employees, have a clear vision, have key technical skills
What is corporate culture and what is an example of it.
Culture is the set of key values, beliefs, understandings, and norms shared by members of an organization.
MNC or Multinational Corporation Management Philosophies includes: Ethnocentric, Polycentric and Geocentric.
What does it each mean and provide examples
Ethnocentric: place emphasis on their home countries
Polycentric: oriented toward the markets of individual foreign host countries
Geocentric: truly world-oriented and favor no specific country
What is an ethical Dilemma?
An ethical dilemma arises in a situation concerning right or wrong when values are in conflict.
Final Jeopardy!!!
What is the utilitarian approach and what is an example of it discussed in class?
The utilitarian approach holds that moral behavior produces the greatest good for the greatest number -Ventilators used during the pandemic