Business 2300 > Lopresti > Flashcards > Final Key Terms (CH 9 - CH 15)

Organization (CH 9)

A group of people assembled to perform activities that will allow the entity to accomplish a set of strategic and tactical goals and to realized its mission

Organizational Structure (CH 9)

The way in which the division of labor, communication, and movement of resources among the parts of an organization are coordinated to accomplish tasks and goals.

Organization Design (CH 9)

The process of creating an organizational structure.

Hierarchy (CH 9)

A way of organizing people and groups according to formal authority.

Authority (CH 9)

The legitimate right of a person in a particular job to make certain decisions, allocate resources, and direct certain other people's activities.

Responsibility (CH 9)

The obligation to satisfactorily accomplish the tasks associated with a job.

Accountability (CH 9)

An individual's willingness to report job success or failure regarding expected job outcomes to his or her manager or other superiors in the chain of command.

Span of Control (CH 9)

The number of jobs that report to a position at the next higher level in a hierarchy.

Span of Leadership (CH 9)

The number of jobs reporting to a person who is responsible for influencing, inspiring, and developing the people who hold those jobs.

Centralized Decision Making (CH 9)

Structural model in which the vast majority of decision-making power is concentrated, typically among those at the top of the organizational hierarchy

Decentralized Decision Making (CH 9)

Structural model in which decision-making power is distributed among the people closest to the relevant information, those who will be affected by the decision, or those who will have to implement the decision.

Organizational Chart (CH 9)

A visual representation of how roles, jobs, authority, and responsibility are distributed within an organization.

Open Systems Theory (CH 9)

A theory stating that any human system, such as an organization, is constantly influenced by and is influencing its environment.

Mechanistic Organization (CH 9)

An organization characterized by routine job functions, a high degree of specialization, and division of labor.

Division of Labor (CH 9)

The process of reproducing work to the smallest, simplest, and most easily repeated tasks possible.

Standard Operating Procedures (SOPs) (CH 9)

Detailed and specific instructions for carrying out routine tasks.

Organic Organization (CH 9)

An organization characterized by a high degree of flexibility, low levels of specialization, less formality, and decentralized decision-making processes.

Adaptive Organization (CH 9)

An organization that is very flexible and readily responds to feedback---to internal and external changes in conditions and the overall environment.

Sole Proprietorship (CH 9)

An ownership model in which a single individual owns a business

Partnership (CH 9)

An ownership model in which two or more individuals share the ownership of a business

Corporation (CH 9)

An organization that is legally recognized as a unique entity, pays taxes, and can be sued, and that does not have the personal liability issues of sole proprietorships and partnerships.

S Corporation (CH 9)

A type of corporation that has 100 or fewer shareholders and does not pay federal income tax

LLC (CH 9)

A hybrid form of ownership that provides limited personal liability to the owners of a business.

Cooperative contracts (CH 9)

Friendly business agreements that result from equity joint ventures, which are also known as equity alliances.

Licensing Agreement (CH 9)

A business agreement in which the owner of trademarked materials authorizes an individual or company use that material to sell or market products or services in exchange for a fee.

Franchise (CH 9)

An agreement in which the owner of a business grants an individual or group of individuals the right to sell or market products or services under that business name in exchange for a fee.

Wholly owned affiliate or subsidiary (CH 9)

A company whose stock is completely owned by a second company, referred to as a parent or holding company.

Strategic Alliances (CH 9)

Agreements between two or more parties to work together to achieve a common goal.

Cross-Functional Teams (CH 9)

Teams that consist of individuals from many parts of an organization who are brought together to provide different points of view and skills in the service of organization-wide challenges and opportunities, innovations, and special projects.

Departmentalization (CH 9)

The process by which individuals or activities are grouped together into departments according to function, geography, product, process, or customer, as well as how the departments are coordinated and how they fit within the larger organization.

Types of Departmentalization (CH 9)

(FUNCTIONAL< PRODUCT< PROCESS< CUSTOMER< GEOGRAPHIC)

Functional Departmentalization (CH 9)

Method of grouping jobs based on the nature of the work being performed.

Product Departmentalization (CH 9)

A method of grouping jobs based on the products made or services offered.

Process Departmentalization (CH 9)

A method of grouping jobs based on the sequential steps of the work people do to produce products or services or engage in other business activities.

Customer Departmentalization (CH 9)

A method of grouping jobs based on the needs of the customers, consumers, or clients.

Geographic Departmentalization (CH 9)

A method of grouping jobs based on their physical location.

Matrix (CH 9)

A structure in which departments within an organization are linked directly to one unit in the vertical organization and to another unit in the horizontal organizations.

Hybrid Structure (CH 9)

A structure that incorporates more than one type of structure in the overall organization.

Job (CH 9)

A group of tasks and responsibilities related to accomplishing organizational objectives.

Environmental Uncertainty (CH 9)

A situation in which market conditions are changing rapidly or are unclear.

Job Analysis (CH 9)

The systematic process of gathering and analyzing information about jobs and the knowledge, skills, and competencies needed to perform these jobs.

Job Description (CH 9)

A written document that lists the major tasks and responsibilities of a particular job.

Job Specification (CH 9)

A written document that lists all of the necessary knowledge, skills, and abilities that a person must possess in order to perform a particular job.

Benchmark Job (CH 9)

Job that is representative of other jobs that are similar in nature.

Team (CH 10)

A small group (6-10) whose members share a common purpose, hold themselves individually and collectively responsible for goals, and have complementary skills and agreed-on processes for working together.

Autocratic Leader (CH 10)

A leader who tends to make decisions with out input from others.

Democratic Leader (CH 10)

A leader who seeks input and then either makes a decision or engages the group in collective decision making

Laissez-faire Leader (CH 10)

A leader who remains at a distance from the decision-making process, allowing the group to make decisions without leadership intervention.

Bruce Tuckman's model of group development (CH 10)

A model of group development that includes 5 sequential stages: Forming, Storming, Norming, Performing, and Adjourning.

Forming (CH 10)

The first stage of group development during which members start to get to know one another, are polite and friendly, avoid conflict, and seek common ground.

Storming (CH 10)

The second stage of group development, which is characterized by disagreements about how to work together, bids for power, and conflict with leaders.

Norming (CH 10)

The third stage of group development, when the group agrees common "rules" of behavior for members (group norms), who does what (group roles), and how best to work together.

Group Norms (CH 10)

Informal but powerful standards that guide group members' behavior.

Group Roles (CH 10)

Shared expectations among members about who does what.

Performing (CH 10)

The fourth stage of group development, during which the group channels energy into tasks rather than into building relationships, resolving conflicts, or deciding how to work together.

Adjourning (CH 10)

The fifth stage of group development during which the group finishes its tasks and decides or is forced to dissolve membership.

Susan Wheelan's integrated model of group development (CH 10)

A model of group development that shows how groups progress through four stages as members gain experience communicating and working together; a fifth stage, termination can also be included in this model.

Counter dependence (CH 10)

Attitudes and behaviors related to resisting leadership or direction from others.

Meritocracy (CH 10)

A system in which people are granted power, responsibilities, and roles because of superior intellect, talent, and competencies.

Social Status (CH 10)

The relative standing or prestige you have compared with others in groups to which you belong

Self-directed Work Teams (CH 10)

Teams in which there is no formally designated leader and members organize their own activities.

High-Performance Team (CH 10)

A team that performs beyond "all reasonable expectations," as compared with other teams in similar situation.

Groupthink (CH 10)

"A collective pattern of defensive avoidance that leads people in a group to adopt a singular view even when there is evidence to the contrary."

Functional Conflict (CH 10)

Involves allowing or encouraging differences of opinions among team members in order to yield better group outcomes.

Dysfunctional Conflict (CH 10)

Involves aggression, personal attacks, or ways of expressing differences that undermine group success.

Information and Communications Technologies (ICTs) (CH 11)

All of the hardware and software related to electronic communication and information sharing.

Sociotechnical Systems Theory (CH 11)

Theory that examines both social and technical characteristics of tasks and how work is organized, focusing on the interaction between people and technologies.

Technology (CH 11)

The use of tools and knowledge to influence the environment.

Industrial Revolution (CH 11)

The period in the eighteenth and nineteenth centuries during which major advances in technology, manufacturing, and transportation changed people's way of life, mainly in England, the United States, and parts of continental Europe.

Age of Enlightenment (CH 11)

Primarily eighteenth-century movement that fueled radical new ideas about government, sciences, economic systems, and wealth across Europe and parts of North America.

Second Industrial Revolution (CH 11)

The period from the mid-nineteenth century through approximately 1915 that was marked by the development of several life-altering technologies, including electricity, motors, synthetics, internal combustion, and mass production techniques.

Third Industrial Revolution (CH 11)

The period beg. in the mid-late twentieth century through today when econ. activities are marked by an increased focus on info and comm technologies, along with greater attention to issues of environmental sustainability and economic competition.

Internet (CH 11)

The global system of interlinked, hypertext documents contained within an electronic network that connects computers and computer networks around the world.

Web 2.0 (CH 11)

The second generation of Web technology and software development that allows for increased interactivity, user design and control, and collaboration.

Intranet (CH 11)

An internal company network that is usually accessible only to employees.

Extranet (CH 11)

A computer network designed for an organization to communicate in a secure environment with certain external stakeholders, such as customers.

Cloud Computing (CH 11)

Hosted services offered via the Internet that are available on demand, are highly flexible in terms of the amount of service users have access to, and are fully managed by the provider.

Emoticons (CH 11)

Letters and symbols combined to represent emotions.

Groupware (CH 11)

A wide variety of software and technological applications that enable people to work collaboratively via information and communication technologies.

Virtual Team (CH 11)

A group of individuals who collaborate on work projects while operating from different locations and using ICTs to establish shared goals, coordinate work, manage work processes and outcomes, and build effective relationships and team norms.

Microfinance (CH 11)

The practice of providing financial services on an extremely small scale.

Digital Divide (CH 11)

The lack of access to and lack of skill in using Internet communication technologies among various underprivileged groups and residents of lesser developed countries.

Control Process (CH 12)

An organization's systems for establishing standards to achieve goals, monitoring and measuring performance, comparing performance to standards, and taking corrective action as necessary.

Scientific Management (CH 12)

An approach that involves organizing work for maximum efficiency.

Human Relations Movement (CH 12)

A movement that started around the beginning of the twentieth century and emphasized placing people, interpersonal relationships, and group behavior at the center of workplace studies.

Hawthorne Studies (CH 12)

A series of research projects demonstrating that when workers perceived that management cared about them and/or when they felt they were getting special treatment, both morale and productivity improved.

Bureaucratic Control Systems (CH 12)

Control processes that use specific rules, standards, and hierarchical authority to achieve planned and desired organizational outcomes.

Output Control (CH 12)

Type of control in which outcomes are measured against financial performance and other clearly articulated metrics, such as customer retention.

Behavior Control (CH 12)

Type of control in which an organization tries to shape the behaviors of its employees in order to attain the deserved outcomes that will lead to organizational success.

Levers of Control (CH 12)

A control system that relies on various levers such as organizational values, rules, feedback systems, and focused involvement in decision making.

Corporate Governance (CH 12)

The way in which an organization is controlled, administered, or directed as described by laws and the processes, policies, regulations, and customs of that organization.

Corporate Charter (CH 12)

An articulation of policies, rules, & procedures that address a variety of governance issues, such as the legal name and location of the busi along with the busi's mission, rules relating to its board of dir, and classes of sec. that are issued.

Privately Held Company (CH 12)

A company that is wholly owned by an individual or group of individuals and does not sell shares of ownership on the open market.

Publicly Traded Company (CH 12)

A company that issued shares of ownership, or stocks that are traded on the open market.

Audit (CH 12)

A formal review to make sure that certain processes have been fully and accurately managed and reported.

Sarbanes-Oxley Act of 2002 (CH 12)

Formally known as the Public Company Accounting Reform and Investor Protection Act, this act sets new or enhanced standards for publicly traded companies' boards, managers, and public accounting firms.

Standards and Metrics (CH 12)

Measures established to define quality and efficiency criteria.

Feedback Control (CH 12)

Type of control in which information about performance is gathered and shared after the fact.

Feed-Forward Control (CH 12)

Type of control system that anticipates potential issues or problems before they arise.

Concurrent Control (CH 12)

The process of collecting "real-time" information to decrease the lag time between performance deficiencies and corrective action.

Financial Controls (CH 12)

Controls that are used to plan how money is earned and spent, to track financial activities such as costs and revenues, and to provide guidelines to manage expenditures.

Budget (CH 12)

A document that outlines when and how money is spent within a company and who is spending it.

Accounting Controls (CH 12)

Controls that provide documentation of what an organization owes and is owed, as well as its assets and liabilities.

Cash Flow Analysis (CH 12)

A document that looks at the money coming in and going out of an organization in a given time frame, either current or projected.

Balance Sheet (CH 12)

A document that provides a snapshot of a company at a particular moment in time, highlighting both its assets and is liabilities.

Profit and Loss Statement (CH 12)

Also called a P & L or an income statement, this document itemizes revenues and expenses and provides insight into what can be done to improve a company's results.

Beyond Budgeting (CH 12)

A control model that is intended to support more adaptive, decentralized, responsive, and ethical organizations.

Customer Relationship Management (CRM) (CH 12)

A customer-centric approach to business with the aim of implementing a customer intimacy strategy or establishing a customer-friendly brand image---or both.

Operations Management (CH 12)

The transformation of inputs---materials, labor, and ideas---into outputs, such as products or services.

Business Process Reengineering (BPR) (CH 12)

A management approach that utilizes available technology and management science to redesign business processes, products, and systems to increase efficiency and focus attention on customer needs.

Total Quality Management (TQM) (CH 12)

A quality control philosophy that supports the elimination of deficiencies and removes variation in output quality through employee involvement in decision making, continuous improvement in processes, and a strong focus on the customer.

Six Sigma (CH 12)

A management strategy that employs quality management methods in a specific sequence to either reduce costs or increase profits.

Lean Management (CH 12)

A management approach that organizes manufacturing and logistics to maximize efficiency and eliminate waste by reducing variation in every process.

360-Degree Review (CH 12)

A review process in which a picture of an employee or manager is created through self-assessment along with feedback from peers, managers, customers, and other relevant stakeholders.

Performance Appraisal (CH 12)

Process of sharing an evaluation of an employee's performance in (ideally) a face-to-face meeting that usually takes place between an employee and his or her manager, although in some organizations this appraisal is deliviered by a human resources manager.

Balanced Scorecard (CH 12)

A review process that takes a holistic view of success and measures several factors related to performance.

Culture (CH 13)

Everything that the people in a society have learned and share through traditions, pass on to children, and teach new members; this includes religion, beliefs, political ideologies, values, customs, foods, lang, gender roles, sexuality, and many other aspects of everyday life.

Attitudes (CH 13)

A group of ideas, values, beliefs, and feelings that predispose a person to react to a thing, a situation, another person, or a group in a certain way.

Norms (CH 13)

Internalized standards for behavior that support agreed-upon ways of doing things and what people expect of one another within a cultural group

Folkways (CH 13)

The routine conventions of everyday life.

Mores (CH 13)

Norms that are central to the functioning of society.

Organizational Culture (CH 13)

A set of shared values, norms, and assumptions that guide peoples' behavior within a group, business, or institution.

Power Distance (CH 13)

The extent to which people in society accept the idea that power is distributed unequally.

Uncertainty Avoidance (CH 13)

The degree to which people can tolerate unpredictable, ambiguous, or uncertain situations.

Individualism (CH 13)

The degree to which people prefer to act in their own self-interest instead of acting on what is best for the group as a whole.

Collectivism (CH 13)

The degree to which people prefer to act as members of a group (rather than as individuals) in exchange for loyalty and the benefits of membership.

Masculinity/ Femininity (CH 13)

The extent to which society values achieving (masculine) versus nurturing (feminine).

Long-Term Orientation (CH 13)

Refers to a greater concern for the future and for values such as thrift, perseverance, and avoidance of shame.

Short-Term Orientation (CH 13)

Refers to a desire for gratification of personal needs, as well as a focus on tradition and meeting social obligations.

Competing Values Framework (CH 13)

A model that shows how cultures can be measured along two axes: structure (stability versus flexibility) and focus (internal versus external).

Clan Culture (CH 13)

A culture that has an internal focus and encourages flexibility.

Hierarchy Culture (CH 13)

A culture that has an internal focus and encourages stability and control.

Adhocracy Culture (CH 13)

A culture that has an external focus and encourages flexibility.

Market Culture (CH 13)

A culture that has an external focus and encourages stability and control.

Balanced Culture (CH 13)

A culture that has values linked to each of the culture domains of the competing values framework, and all of these values are perceived to be important and are held by organization members quite strongly.

Strong Culture (CH 13)

A culture in which central values and norms are shared and strongly upheld by most members of the organization.

Weak Culture (CH 13)

A culture in which the values and norms are shared by a limited group of people and employees' goals may not be in line with management's goals.

Espoused Values (CH 13)

Explicit values that are preferred by an organization and communicated deliberately to the organization's members.

Enacted Values (CH 13)

The values that are actually exhibited in an organization.

Myths (CH 13)

Exaggerated stories that are told and retold to communicate values and to emphasize norms.

Hero (CH 13)

A legendary person who embodies the highest values of a culture.

Socialization (CH 13)

The process of teaching new members about a culture

Taboos (CH 13)

Strong prohibitions against certain activities.

Sacred Symbols (CH 13)

Things, people, and events that are untouchable and unquestionable within a culture.

Ethnography (CH 13)

The systematic study of human cultures.

Equal Employment Opportunity Commission (EEOC) (CH 13)

A federal commission created as part of the Civil Rights Act of 1964 that handles complaints of discrimination against organizations.

Equal Opportunity (EEO) Laws (CH 13)

Federal regulations that ensure that organizations provide equal opportunities for all people.

Sexual Harassment (CH 13)

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.

Globalization (CH 14)

The global flow of money, products, information, services, and expertise.

Cold War (CH 14)

A political and ideological conflict between the Soviet Union and the United States that lasted from the end of World War II until the early 1990's. It was characterized by military antagonism and economic competition between the two nations

Iron Curtain (CH 14)

The seemingly impenetrable physical and political boundary that existed during the Cold War and separated democracy-favoring Western Europe from Communism-favoring Eastern Europe and the Soviet Union.

Proxy Wars (CH 14)

Wars that are encouraged or triggered by powerful nations but in which those nations don't necessarily participate in combat. Instead, the nations use less-powerful third parties to represent their competing interests.

Propaganda (CH 14)

Various forms of communication that are meant to further a specific agenda and/or weaken the position of a competing party.

Exporting (CH 14)

The transportation and sale of domestic goods to foreign markets.

Importing (CH 14)

The transportation and sale of foreign goods to a domestic market.

Cooperative Contracts (CH 14)

Agreements in which two or more organizations pool their needs and place a single order with a vendor for the purchase of goods or services.

Licensing (CH 14)

A business agreement in which the owner of trade-marked or otherwise branded material authorizes an individual or company to use that material to sell or market products or services in exchange for a fee.

Franchising (CH 14)

A business agreement in which the owner of a business grants an individual or group of individuals the right to sell or market products or services under that business name in exchange for a fee.

Strategic Alliances (CH 14)

Business agreements in which two companies temporarily team up for their mutual benefit in creating or distributing products or services.

Wholly Owned Affiliates (CH 14)

Companies that are controlled by another company, most commonly through ownership of all common stock.

Global New Ventures (CH 14)

Start-up companies that open globally before firmly establishing a domestic presence.

Outsourcing (CH 14)

The process by which companies subcontract specific jobs or work functions to non-employees or other companies.

Offshoring (CH 14)

A form of outsourcing in which companies transfer jobs to countries other than their own to reduce labor and other expenses.

Economy of Scale (CH 14)

The process of taking advantage of the power that comes with large operations to reduce costs and redundancy of efforts.

Centrally Planned Socialist Economy (CH 14)

An economy in which the gov. dictates every aspect of the econ. system, including what goods are produced by whom, how much these goods cost, how much people are paid for their work, and the like.

Capitalist Economy (CH 14)

An economy in which what is produced and sold, as well as how much goods and services cost, is determined by the market. This means that the supply of and demand for goods and services determines prices, wages, and so forth.

European Union (EU) (CH 14)

An economic and political union of 27 European nations (as of 2010).

Supranationalism (CH 14)

A type of structure in which members transfer a portion of their power to the union in exchange for certain benefits.

North American Free Trade Agreement (NAFTA) (CH 14)

An accord between the United States, Canada, And Mexico that lifts tariffs and other trade barriers among the three nations.

United States -- Dominican Republic -- Central America Free Trade Agreement (CAFTA) (CH 14)

A trade agreement among seven nations: The U.S., the Dominican Republic, Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua.

Union of South American Nations (UNASUR) (CH 14)

A political alliance that moves South America closer to its overall goal of forming an EU-like bloc with a common currency, parliament, and passport.

Group of Twenty (G - 20) (CH 14)

Representatives of 20 major economies who meet at least once a year to help secure global economic cooperation.

International Monetary Fund (IMF) (CH 14)

A United Nations agency that promotes currency stability and lends reserve currencies to nations with trade deficits.

World Bank (CH 14)

An international banking organization that provides capital supplied by member governments to underdeveloped nations.

World Economic Forum (CH 14)

A not-for-profit organization that claims no ties to political, partisan, or national agendas and brings together business, political, social, and intellectual leaders from around the world.

Sustainability (CH 15)

The process of meeting present needs without compromising the ability of future generations to meet their needs.

Global Warming (CH 15)

Term used to describe a fairly recent increase in the temperature of Earth's lower atmosphere (the air we breathe) and the land and water that make up Earth's surface.

Greenhouse Effect (CH 15)

Term used to describe how air, water, and land temperatures are affected by certain gases in Earth's atmosphere. These gases trap infrared energy, which leads to an increase in the planet's atmospheric and surface temperatures.

Environmental Sustainability (CH 15)

Term that refers to the preservation of environmental resources and biodiversity, creation of sustainable access to safe drinking water, and enhancement of quality of life among the most impoverished.

Social Sustainability (CH 15)

Improvement of daily life for the greatest number of people by improving fair income distribution; promoting gender equality; ensuring equal access to land ownership, employment, and education; investing in basic health and education;

Economic Sustainability (CH 15)

Term that refers to an economy's capacity to regularly produce outcomes consistent with long-term economic development.

Kyoto Protocol (CH 15)

An international agreement drafted during the 1997 United Nations Framework Convention on Climate Change for the purpose of supporting and enforcing the reduction of greenhouse gas emissions.

Green Economy (CH 15)

An economic model that focuses on development and use of renewable energies such as wind, biofuels, and so on to displace traditional fossil fuels, and move businesses and communities toward environmental sustainability.

Green-Collar Jobs (CH 15)

Jobs related to providing environmentally friendly products or services.

Corporate Social Responsibility (CSR) (CH 15)

A form of corporate self-regulation that builds sustainability and public interest into business decision making and activities.

Philanthropy (CH 15)

Giving money, time, services, or products in the service of supporting people's well-being.

Service (CH 15)

Giving of oneself without any expectation of a return.

Global Citizenship (CH 15)

Involves understanding one's place in and one's impact on the world community and engaging in activities that support global environmental, social, and economic sustainability.

Servant Leadership (CH 15)

A leadership style in which the leader seeks to serve followers and stakeholders, as opposed to dominating them.

Types of Control (CH 12)

Output >> Behavior, Normative,

Final Key Terms (CH 9 - CH 15)

Business 2300 with Lopresti at University of Colorado Boulder

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