Chapter 1
Managing in a Global World
Managing in a Global World
The process of working with people and resources to accomplish organizational goals.
What is efficiently and effectively?
More than an organization's customers, partnerships, or suppliers.
What is the external environment?
The moral principles and standards that guide the behavior of an individual or group.
What are Ethics?
Conscious, systematic process of making decisions about goals and activities.
What is the Planning Process?
The process by which enterprising individuals initiate, manage, and assume the risks and rewards associated with a business venture.
What is Entrepreneurship?
Planning, Organizing, Leading, and Controlling
What are the 4 functions of management?
Statistical characteristics of a group or population, such as gender, age, and education level.
What are demographics?
Principles, rules, and values people use in deciding what is right or wrong.
What is Moral Philosophy?
Actions or means the manager intends to use.
What are plans?
"Anyone can start a business"
"Entrepreneurs are their own bosses"
"Any entrepreneur with a good idea can raise venture capital"
What are some myths about Entrepreneurship?
Interpersonal, technical, conceptual/decision.
What are the three skills needed by managers?
Conditions that prevent new companies from entering a specific industry.
What are Barriers to Entry?
Company mechanisms designed to instill in people a personal responsibility for ethical behavior.
What are Integrity-Based Ethics Programs?
Managers will assess the advantages, disadvantages, and potential effects of each plan.
What is Evaluation?
An entrepreneurial alliance between two parties.
Proven (but not failure-proof) business concept.
What is Franchising?
Globalization, diversity, technology, knowledge, and collaboration.
What are the major challenges facing managers?
Method for predicting how variables will change the future.
What is forcasting?
Preconventional stage, Conventional stage, Principled stage.
What are Kohlberg's Stages of Moral Development?
An analysis that helps executives formulate a strategy.
What is a SWOT Analysis?
Executive summary, market research and analysis, critical risks, problems, and assumptions, appendixes.
What are the sections of a Business Plan?
Mergers, Acquisitions, and Divestitures.
What is strategic maneuvering?
System of shared values and beliefs.
What is Organizational Culture?
Brands, CEO pay, Sweatshops, Wages, Religion at work.
What are Ethical Dilemmas?
Identify and diagnose, generate alternative solutions, evaluate alternatives, make the choice, implement the decision, evaluate the decision.
What are the Six Stages of Formal Decision Making?
Protected environments for new small businesses.
What are Business Incubators?