What is the primary focus of a manager's role?, Helping others do their work, not personal achievement., Define management., The process of getting things done effectively and efficiently, with and through people., What is effectiveness in management?, Doing the right things., What are the four functions of management (POLC)?, Planning, Organizing, Leading, Controlling., What does the planning function involve?, Setting goals, strategies, and plans to coordinate activities., What does organizing involve?, Determining tasks, grouping, reporting relationships, and decision-making., What does leading involve?, Monitoring performance, comparing to goals, correcting deviations., What is the external environment?, Factors, forces, situations, and events outside the organization that affect its performance., Define organizational culture., The shared values, principles, traditions, and ways of doing things that influence the way organizational members act., What is global sourcing?, Purchasing materials or labor from the cheapest source worldwide., Define exporting and importing., Exporting: making products domestically and selling abroad. Importing: buying products made abroad and selling domestically., What is licensing?, Allowing another company to make or sell your products in exchange for fees., What is a global strategic alliance?, Partnership with a foreign company to share resources/knowledge., What is a joint venture?, A type of strategic alliance where partners form a separate, independent organization., What is a foreign subsidiary?, A separate and independent facility/office set up by a company in a foreign country., What is power distance?, The degree to which people accept unequal power distribution in institutions., Define individualism vs. collectivism., Individualism: preference to act as individuals. Collectivism: preference to act as members of groups., What is uncertainty avoidance?, Preference for structured situations and willingness to take risks., Define long-term vs. short-term orientation., Long-term: future-focused, values thrift and persistence. Short-term: values past/present, tradition, social obligations., What is the rational model of decision making?, Assumes full objectivity, clear problems, known alternatives, and value maximization., What is bounded rationality?, Rational decisions limited by information-processing ability; managers “satisfice.”Rational decisions limited by information-processing ability; managers “satisfice.”, Define intuitive decision making., Making decisions based on experience, feelings, and accumulated judgment., What are the six key elements of organizational design?, Work specialization, departmentalization, authority & responsibility, span of control, centralization vs. decentralization, formalization., Define span of control., The number of employees a manager can supervise effectively., What is centralization?, Decision-making at upper levels., What is decentralization?, Lower-level managers provide input or make decisions., What is a mechanistic organization?, Rigid, hierarchical, formalized, centralized., What is an organic organization?, Flexible, collaborative, informal, decentralized., What is human resource management (HRM)?, Hiring, training, motivating, and retaining the right people., What is a job description vs. job specification?, Job description: what the job entails. Job specification: qualifications needed for the job., Define recruitment and downsizing., Recruitment: attracting applicants. Downsizing: reducing workforce., What is a group?, Two or more interdependent individuals who come together to achieve goals., What are formal groups vs. informal groups?, Formal: defined by organization structure. Informal: social groups based on friendships, What is social loafing?, Decline in individual productivity as group size increases., Define Motivation, The process that energizes, directs, and sustains effort toward a goal., What are Theory X and Theory Y?, Theory X: negative view of employees (must be controlled). Theory Y: positive view (self-directed, responsible)., What is Herzberg’s Two-Factor Theory?, Hygiene factors prevent dissatisfaction; motivators drive satisfaction., Name McClelland’s three needs., Need for achievement, need for power, need for affiliation., What is equity theory?, Employees compare their input/outcome ratio to others’., What is expectancy theory?, Behavior is driven by expectation of outcome and its attractiveness., What is SWOT analysis?, Evaluating Strengths, Weaknesses, Opportunities, Threats., What is departmentalization?, The way jobs are grouped together in an organization, What is the difference between authority and power?, Authority is the right to give orders based on position; power is the ability to influence others, What does Equity Theory say about employee motivation?, Employees compare their input/outcome ratio to others and seek fairness., According to McClelland, what need is most important for a good manager?, High need for power, low need for affiliation., What are the three elements of Expectancy Theory?, Expectancy (effort leads to performance), Instrumentality (performance leads to reward), Valence (value of reward)., What is the main purpose of the controlling function?, To ensure activities are leading toward goal achievement and to correct deviations., What steps are involved in the control process?, 1. Measure performance, 2. Compare to standards, 3. Take corrective action., What is franchising?, A company allows another to use its name and operating methods in exchange for fees., Give an example of a company that uses licensing., Coca-Cola licenses its formula and brand to local bottlers worldwide., What are the benefits of a joint venture?, Shared risk, resources, local knowledge, and compliance with regulations., What is job analysis?, The process of studying workflows to identify the skills and behaviors needed for a job., What is the difference between recruitment and selection?, Recruitment is attracting applicants; selection is choosing the best candidate from applicants., Why is the legal environment important in HRM?, Laws dictate what managers can and cannot do in hiring, firing, and managing employees., What are the stages of group development?, Forming, Storming, Norming, Performing, Adjourning., What is a norm in a group context?, Acceptable standards of behavior shared by group members., What is conformity?, Adjusting behavior to align with group norms., What is the main difference between a work group and a work team?, A work team shares leadership and collective responsibility; a work group has a clear leader and individual accountability., What is satisficing?, Accepting a solution that is “good enough” rather than optimal.Accepting a solution that is “good enough” rather than optimal. a solution that is “good enough” rather than, When is intuitive decision making most useful?, When time is limited, information is incomplete, or past experience is relevant., What is a key limitation of the rational model?, It assumes perfect information and objectivity, which is unrealistic., According to Herzberg, what are examples of motivators?, Achievement, recognition, the work itself, responsibility., What are examples of hygiene factors?, Salary, work conditions, company policies, supervision., What type of employee is best suited for managerial roles according to McClelland?, High need for power, moderate need for achievement, low need for affiliation., What is the main purpose of the controlling function?, To ensure activities are leading toward goal achievement and to correct deviations., What steps are involved in the control process?, 1. Measure performance, 2. Compare to standards, 3. Take corrective action., How Do Organizations Go Global?, Through A Global Investment : Foreign Subsidiary, Strategic Alliance, Joint Venture, Franchising, Licensing, Exporting and Importing, Global Investment, Global Sourcing, Define Efficency, Doing things right, What are the components of an external environment?, Political/Legal, Demographics, Economic, Sociocultural, Technological, and Global., Define High power distance, Inequalty of power distribution, Define Low power distance, Relatively equality of power distribution, Based on Hofstede's Framework, Define Achievement, People value assertiveness, the acquisition of money and material goods, and competition., Based on Hofstede's Framework, Define Nurturing, People value relationships and show sensitivity and concern for the welfare of others.

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