Management Cheat Sheet PDF

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Study Guide for First Exam for International Management ...

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CH.1 Managers: work with and through other people, coordinating their work to accomplish organizational goals. Management: efficieny (doing things right, getting the most output for the least inputs)+effectiveness( doing the right things, attaining organizational goals)=productivity( performance measure that includes both efficiency/effectiveness. Being a manager: Rewards: meaningful, fulfilling work, challenging, creative, support, coach, nurture, recognition, status, good money, opportunities; Challenges: success depends on others’ performance, deal with varied personalities, limited resources+high expectations, long hours, must change, adapt quick CH. 2 General administrative theories: Weber 1900s: Theory of authority based on ideal type of organization (bureaucracy)-rationality, predictability, impersonality, technical competence, authoritarianism, Fayol management functions: planning, organizing,leading, controlling. 14 principles of management. How do we use today (task)? Fayol: foundation for many current management concepts; Weber: many bureaucracy characteristics evident in large organizations (ensure resources used efficient/effective, minimizes creativity, inhibits quick response to change). The systems approach: systems defined: a set of parts that are interrelated & interdependent; arranged to produce a unified whole. Types of systems: closed; open system (environment) : continuously,unpredictability,nonlinearly:inputstransformationoutputs Implications of a systems approach: coordination of parts essential for proper functioning of org.;decisions and actions in one area affect others; orgs. Must adapt to changes in their external environment. CAS complex adaptive theory: study of complexity=how order emerges organically from interactions among actors. CAS: continual interactions impact actions/decisions dynamically and nonlinearly; system rules change over time based on interactions; open to energy and information from the environment; small changes create big results. Adaptive advantages of CAS: robustness, error tolerance, self repair, ease of implementation, simple agents. Current Trends and Issues: Globalization, Ethics, workforce diversity, e-business, entrepreneurship, knowledge management: the cultivation of a learning culture; members systematically gather and share knowledge to achieve better performance. Learning Org.: developed the capacity to continuously learn, adapt, change., quality man. CH. 3: Culture: a system of shared meanings and common beliefs, the way we do things around here (values, symbols, rituals, myths, and practices). Culture is a perception, shared, descriptive; largely determines how we act towards each other. 7 dimensions of culture: attention to detail: degree to which employees are expected to exhibit precision/analysis. Outcome orientation: degree to which man. focus on results of outcomes rather then how they are achieved. People orientation: degree to which management decisions take into account the effects on people in the organizations. Team orientation: degree to which work is organized around teams rather than individuals. Aggressiveness: degree to which employees are aggressive and competitive rather than cooperative. Stability: degree to which organizational decisions and actions emphasize the status quo. Innovation and Risk taking: degree to which employees are encourages to be innovation and to take risk. Culture affects managers: cultural constraints: actions the org. sees as proper/improper; activites the org. values/encourages; overall strength/weak of the org. culture. simple rule for success-find out what firm rewards and do those things. Managerial Dec Affected by Cult: Planningdegree of risk, developed by individuals or reams, amount of environmental scanning/analysis expected. Organizing: amount of autonomy in jobs, task to individuals or teams, amount of interaction with other managers. Leading  how concerned with increasing employee job satisfaction, what leadership styles appropriate, how are disagreements handled. Controlling whether to allow employees to control own actions, what criteria emphasized in employee performance evaluations, what repercussions will occur from exceeding one’s budget CH 4 Managing a Global Environment  Need 2 things (1)Sensitivity and (2)Interdependence. Sensitivity is acknowledging cultural, political, and eco differences; dealing with increased uncertainty, fear and anxiety; avoiding parochialism (narrow, provincial attitude). Adopting a global perspective: Ethnocentric Attitude: Belief that best work approaches and practices are those of home countryGlobal MNC: maintains operations in multiple countries but manages the operations from a base in the home country (Sony, Merrill Lynch). Polycentric Attitude :View that managers in host country know best work approaches and practices for business. Multidomestice MNC: A firm that maintains operations in several countries but decentralizes management to the local country (Nestle). Geocentric Attitude A world-oriented view that focuses on using the best approaches and people from around the globe.  Transnational or borderless MNC: A firm that has eliminated structural divisions that impose artificial geographic barriers and is organized along business lines (IBM,Squibb) CH 5: Conclusion that can be reached social responsibility/economic performance: Integrates interests in of stakeholders into company’s business policies and actions. Focuses on the “triple bottom line”: Social, Environmental, Financial. GOAL positively impact society while achieving business success. Does social Responsibility Pay Positive relationship between social involvement and economic performance; mutual funs using social screening in investment decisions slightly outperforms other mutual funds; firms social actions do not harm long term performance. Moral Judgment  Internal focus (pre-conventional) –impact on me, my family , my career. External focus(conventional)-alignment with others expectations of me, alignment with community norms. Integrated focus(principled)-impact on my view of self, alignment with my internal set of values/beliefs of justice (equity/dignity/reciprocity) Stages of moral judgement 

Moderators: ethical dilemma, stages of moral development, individual characteristics,issue intensity, ethical/unethical behavior, structural variable/org culture Org Culture: Norms/ expectations, likely reaction/impact of my action/nonaction. Structural Variables: Personal recruitment/ selection processes, performanceevaluation system, compensation systems, reporting/ evaluating/ monitoring mechanisms, decision making practices/protocols, Training. Individual characteristics: values,Courage,Ego strength, Focus of contol, Risk sensitivity; Issue intensity Supporting Moral BehaviorGood cultural design (minimizes abmiguuity and uncertainty, fosters respectful and trusting relationships, managers walk the walk, intrinsically motivating) Good structural design (incentives for ethical behavior, disincentives for unethical behavior) CH 6 Rational Decision –Making Model: a) Define Problem, b) Identify decision criteria, c) allocate weights to criteria, d) develop alternatives, e) evaluate alternatives, f) select best alternative. Assumptions of Rational Model- Problem clarity, known options, clear preferences, constant preferences, no time or cost constraints on information gathering, maximum payoff will drive choice, actors have sufficient creativity to identify all possible issues/options How decisions are actually made-Bounded Rationality (focus on few essential features of problem) and Intuitive Decision Making (unconscious process, created out of distilled experience, see blink by gladwell Problems and decisions-Structured Problems (involve clear goals, familiarhave occurred before, easily and completely defined information about the problem is available and complete); Programmed Decisions (repetitive decision, Can be handled by a routine approach)

-Types of Programmed Decisions-1. A Policy (general guideline for making a decision about a structured problem), 2. A Procedure (series of interrelated steps that can be used to respond-applying a policy-to a structured problem; 3. A Rule (Explicit statement that limits what you can or cannot do) -Problems and Decisions (cont)-Unstructured Problems-(new or unusual, information is ambiguous or incomplete, will require custom made solutions) Nonprogrammed Decisions-(unique/non-recurring, generate unique responses) CH 8 Business-level Strat: How an org should compete in each business, Porter’s Generic Strategy (you cant be all things to all people, strat-comp advent, Depends on SWOT (org’s core competencies, competitors weaknesses) Choose or be stuck in the middle, Low cost (doc-inthe-box, maximize economies of scale, Stress decreasing overhead/admin costs), Differentiation (mayo clinic, create/market new products, varied customer groups-special sensitivity for particular product attributes), Focus (heart hospital, market segment focus-may be low cost or differentiation, Special financing/inventory/servicing/ problems) CH 9 -Benchmarking-Search for the best practices; By imitating, you expect to gain superior performance (industry leaders, Out-of-industry comparisons) Contemporary Planning Techniques: Scenario Planning: Reduce uncertainty by playing out potential situations under different conditions –Best/Worst/Most-Likely. Flexibility important: budget, schedule, resources CH 11 4 horsemen: keep them out of communication (protect relationships) by addressing feelings, deescalating emotions. 4 Horsemen of communication apocalypse: rationalizaing/defensiveness;criticizing/attacking;sender;contemptuous/sarcasm;silen ttreatment/stonewalling Barriers to Effective Comm: Filtering (delivering what they want to hear), Selective Perception (decoding based on receivers needs, motivations, background experiences), Information Overload, Gender Styles (menstatus/interdependence;women-connection/intimacy), Emotional interference, Lack of language/listening skills, Physical distractions, Competition for power, status, rewards, Closed culture, Top-heavy structure, Many layers (long lines of communication), Lack of trust (fear of reprisal), defensiveness, culture Overcoming Barriers: Realize communication is imperfect, Adapt message to receiver, Plan for feedback, use multiple channels & feedback, simplify language, listen actively, listen actively, constrain emotions(4 horsemen), watch nonverbal cues Improve language and listening skills. Knowledge management-databases used to capture info and provide a sharing platform for org. This allows for better behavior and better performance.: right info to right people at right time in right format. Critical element for learning organization. KM: knowledge is scattered, messy, easy to lose. As baby boomers leave workforce, increasing awareness that wealth of knowledge will be lost if not captured, recognize intellectual assets as important as physical/fitness. Welldesigned KM: provide structure to support/incentivise sharing knowledge, treat knowledge/info like any other raw material, reduce redundancy/increase efficiency. Better behaviorbetter performance CH 12 Selection Devices: Application forms -Interview-commonly used-needs to be structured for better validity (set questions, standard rating system, focused behavior) -Written test types- Inetlligence, aptitude, ability, interests, integrity, personality. -Performance simulation-samples, assessment centers. -Background invesrigations (post offer selection devices)-reference checks, physical examinations (drugs, strength/stamina) Different Performance evaluation methods: written essay describing employee’s strengths/weaks, performance; critical incidents review evaluating behaviors that lead to job success. Graphic rating scales: an evaluation method in which the evaluator rates performance factors on an incremental scale. Behavorially anchored rating scale: The appraiser rates the employees based on items along a continuum, but the points are examples of actual behavior on the given job rather than general descriptions or traits. Multiperson or forced comparisons: one individual’s performance to another (Enron-rank and yank best-worst) 360 degree evaluations: from everyone in the culture: customers, supervisors, clients, other departments. Sexual Harrasment: unwanted sexual advance/activityform of sex discrimination, verbal/physical, offensive/hostile work environment, workplace romances, bullying. Critical Success Factors (compensation and benefits): create a culture of inclusion, demand a higher level of performance from everyone, treat all people as irreplaceable assets. CH 13 ”Calm Waters” Smile- Change is a response to a break in status quo, Needed only in occasional situations, Future is predictable (past prologue), Punctuates long periods of calm/stability. “White-Water Rapids” Smile- Stability and predictability don’t exist, Face constant change-bordering on chaos, Requires flexibility-quick response to changing conditions-comfort with ambiguity. Stress: physical/psychological tension when facing extraordinary demand, high importance/uncertainty. Functional (positive) v dysfunctional (negative) Issues in Managing Change: Reduce Stress: Match employees’ knowledge/skills/abilities to jobs’ requirements, Use realistic job interviews to reduce ambiguity/manage expectations, Improve organizational communications, Develop a performance planning program, Use job redesign, Provide a counseling program, Offer time planning management assistance, Sponsor wellness programs-(Sensitivity training, Team building, Intergroup Development, Process Consultation, Survey Feedback) How can you satisfy needs of employees for: Truth (trust, 2way street) Beauty (creativity, productivity) Goodness (truth and beauty in human conduct) Unity (individual uniqueness, usefulness, understanding, part of something bigger than ourselves. Leader’s Role: Sustaining Change: Dealing with unanticipated consequences, Momentum (establish data monitoring systems, continue feedback), Choosing successors, Launching new/revised initiatives and/or spread Characteristics of Change-Capable Organizations- Link the present and the future, Make learning a way of life, Actively support and encourage day-today improvements and changes, Ensure diverse teams, Encourage mavericks, Shelter breakthroughs, Integrate technology, Build and deepen trust. Contemporary Change Issues: Creating a Learning Organization- An organization that has developed the continuous capacity to adapt and change. Characteristics (5 th Discipline): 1 Holds a shared vision, 2 Discards old ways of thinking, 3 Views organization as system of relationships, 4 Communicates openly, 5 Works together to achieve shared vision. Contemporary Change Issues: Stimulation Innovation-a new idea applied to initiating or improving a product, process or service. Variables necessary for innovation: structural (organic structures, abundant resources, high interunit, communication, minimal tim e pressure, work and non work support), human response: (high commitment to training and development, high job security, creative people), cultural: (acceptance of ambiguity, tolerance of the impractical, low external controls, tolerance of risks/conflicts, focus on ends, open system focus, positive feedback) CH 14 The Big Five Model (Sal #1)-Extraversion (sociable, talkative, and assertive) Agreeableness (good natured, cooperative, and trusting) Conscientiousness (Responsible, dependable, persistent, and achievement oriented) Emotional Stability (Calm, enthusiastic and secure or tense, nervous and insecure) Open to Experience (Imaginative, artistically sensitive, and intellectual). Myers-Briggs Type Indicator (SAL #2)- Most widely used personality-assessment instrument in the world. The 4 personality type are: Extroverted or Introverted (how you are energized), Sensing or Intuitive (what info do you pay attention to), Thinking or Feeling (how do you come to conclusions), Perceiving or Judging (preferred lifestyle/environment). Extroverts: High energy, Talk more than listen, think out loud, Act-then think, Like to be around people, Prefer a public role, Can be easily distracted, Prefer doing lots of things at once, Are outgoing/ enthusiastic. Introverts: Have quiet energy, Listen more than talk, Think-then act, Feel comfortable being alone, Prefer to work :behind the scenes”, Have good powers of concentration, Prefer to focus on one thing at a time, Are self-contained and reserved. Sensing: Focus on details-specifics, Admire practical solutions, Notice detailsremember facts, Are pragmatic-see what is, Live in the here-and-now, Trust actual

experience, Like to use established skills, Like step-by-step instructions, Work at a steady place. Intuitive: Focus on big picture-possibilities, Admire creative ideas, Notice anything new-different, are inventive-see what could be, Think about future implications, Trust their gut instincts, Prefer to learn new skills, Like to figure thins out for themselves, Work in burst of energy. Thinking: Make decisions objectively, Appear cool-reserved, Are most convinced by rational arguments, Are honestdirect, Value honesty-fairness, Take few things personally, Tend to see flaws, Are motivated by achievement, Argue or debate issues for fun. Feeling: Decide based on values-feelings, Appear warm and friendly, Are most convinced by how they feel, Are diplomatic-tactful, Value harmony-compassion, Take things personally, Are quick to compliment others, Are motivated by appreciation, Avoid argumentsconflict. Judging: Make most decisions easily, Are serious-conventional, Pay attention to time-are prompt, Prefer to finish projects, Work first-play later, Want things decided, See need for most rules, Like to make-stick with plans, Find comfort in schedules. Perceiving: Difficulty making decisions, Are playful-unconventional, Less aware of time-run late, Prefer to start projects, Play first-work later, Question need for rules, Like to keep plans flexible-options open, Want freedom to be spontaneous. Operant conditioning: Behavior is a function of its consequencies and learned through experience, Behaviors are learned by making rewards contingent to behaviors, Behaviors is rewarded (+ reinforced) is likely to be repeated, Behavior that is punished or ignored is less likely to be repeated, BF Skinner-experiments with rats learning maze. Applying Operant Conditioning-Shaping behavior : Attempting to “mold” individuals by guiding their learning in graduated steps such that they learn to behave in ways that most benefit the org, Systematically reinforcing each successive step toward the desired response, Timing of reinforcement/punishment affects learning speed and permanence, Effective rewards/punishment differ by individuals. CH 15 The 5 Stages of group dev: Forming ( Harmony around similarities) Storming (conflict around differences, team production < individual production) Norming (integration-understanding, Team production = individual production) Performing (Integration-fill utilization/celebration of diversity, Team production > individual production) Teams can get stuck or repeat stages! Group Think- phenomenon in which the norm for consensus overrides the realistic appraisal of alternative courses of action. Social Loafing-the tendency for individuals to expend less effort when working collectively than when working individually. Creates a difference between expected and actual (due to loafing.)

CH 16 Herzberg’s Motivation-Hygiene Theory (Motivation vs. hygiene factorsmotivation factors are intrinsic originating from inside people while Hygiene factors are extrinsic-from outside the person. Motivation factors = satisfiers and Hygiene factors = dissatisfiers. Hygiene factors affect job dissatisfaction while Motivator factors affect job satisfaction. Eliminating dissatisfiers may keep people from leaving, but will not motivate the nto work hard. To motivate people, emphasize factors associated with the work itself or to outcomes directly derived from it. Equity Theory: Employees weigh what they put into a job situation (input) against what they get from it (outcome), Then they compare their inputs-outcome ratio with relevant others, If inequities exist-employees w...