Managers and Management
The Management Environment
Integrative Managerial Issues
Fundamentals of Decision-making
Fundamentals of Planning
100

Goals, People and Structure

What are the three characterristics that all organizations share?

100

Factors, forces, situations, and events outside the organization that affect its performance

What is the external environment?

100

A boundaryless world where goods and services are produced and marketed worldwide—

What is a global village?

100

Putting a decision into action

What is decision implementation?

100

 (1) defining specific goals covering a specific time period, (2) writing down these goals and making them available to organization members, and (3) using these goals to develop specific plans that clearly define the path the organization will take to get from where it is to where it wants to be.

What is formal planning?

200

People who work directly on a job or task and have no responsibility for overseeing the work of others

What are non-managerial roles?

200

An economic environment in which asset owners share with other individuals through a peer-to-peer service, for a set fee, their underutilized physical assets or their knowledge, expertise, skills, or time.

What is the sharing economy?

200

An agreement in which an organization gives another the right, for a fee, to make or sell its products,

What is licensing?

200

Making decisions on the basis of experience, feelings, and accumulated judgment.

What is intuitive decision making?

200

 McDonald`s plan, which is built on three components: operational excellence, being the leader in marketing, and continual product innovation. McDonald’s managers—from corporate to individual stores—know that planning is vital to the company’s continued success.

What is "Plan to Win"?

300

Doing a task correctly (“doing things right”) and getting the most output from the least amount of inputs.

What is efficiency?

300

Any constituencies in an organization’s environment that are affected by that organization’s decisions and actions

What are stakeholders?

300

A direct investment in a foreign country that involves setting up a separate and independent facility or office

What is a foreign subsidiary?

300

A cost where the money has already been spent and cannot be recovered.

What are sunk costs?

300

A six-step process that encompasses strategy planning, implementation, and evaluation

What is the strategic management process?

400

Planning, organizing , leading and controlling

What are the four managerial functions?

400

The shared values, principles, traditions, and ways of doing things that influence the way organizational members act

What is organizational culture?

400

Power distance, individualism/collectivism, achievement/nurturing, uncertainty avoidance, long-term/short-term orientation

What is  Hofstede`s 5 dimensions of culture?

400

 Managers make rational decisions, but are limited (bounded) by their ability to process information.

What is bounded rationality?

400

In SWOT, these are positive trends in the external environment

What are opportunities?

500

Interpersonal, Informational, Decisional

What is the three roles approach?

500

Refers to the degree of change and complexity in an organization’s environment.  

What is environmental insecurity?

500

Those activities a business firm engages in to meet certain economic and legal responsibilities. It does the minimum that the law requires and only pursues social goals to the extent that they contribute to its economic goals

What are social obligations?

500

A problem that is new or unusual for which information is ambiguous or incomplete.

What is an unstructured problem?

500

The search for the best practices among competitors or noncompetitors that lead to their superior performance.

What is benchmarking?