Management Final Exam Review

Business Management 350 with Hunt at University of North Carolina-Wilmington

About this deck

By: Hunter Wilson
Created: 2012-05-06
Size: 69 flashcards
Views: 31

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Leaders

Influence others & provide a vision for the organization

Legitimate Power

The power a person receives as a result of his or her position in the formal hierarchy of an organization

Coercive Power

power that stems from the authority to punish or recommend punishment

Reward Power

Compliance achieved based on the ability to distribute rewards that other view as valuable

Referent Power

Power that comes from subordinates' and coworkers' respect, admiration and loyalty. (Charisma)

Expert Power

power that is based on special knowledge, skills and expertise that a leader possesses

Personal Power

Referent: Power is vested in an individual by others by virtue of personal attraction, charisma, trust, admiration, etc. (celebrities)

Expert: Power of an individual by virtue of his/her valued skills or expertise or information. relevance of skills, ability, information. Credibility and trustworthiness .

Positional Power

those who are granted power by others for specific purposes/ responsibilities

Trait theories of leadership

theories that consider personal qualities and characteristics that differentiate leaders from nonleaders

· Drive

· Self confidence

· Creativity

· Cognitive ability

· Motivation

· Flexibility

· Honesty and integrity

Behavioral theories of leadership

Theories proposing that specific behaviors differentiate leaders from nonleaders

Situational leadership

leader adapts leadership style to maturity level, expectations, needs, attitudes and personalities of the group; leader may be follower in another situation

5 managerial grid leadership styles

1. Middle of road management

2. Country club management: H concern for people, L concern for production

3. Impoverished Management: L concern for people, L concern for production

4. Team management: H concern for people, H concern for production

5. authority compliance: L concern for people, H concern for production

Autocratic leadership

leadership style that involves making managerial decisions without consulting others.

Participative (democratic) leadership

leadership style that consists of managers and employees working together to make decisions.

Laissez-faire leadership

allows the group to function more or less on its own. This style typically is the least effective in promoting group goals.

Is the quality of decision significant?
Do I have enough information?
Is the problem structured?
Is acceptance by subordinates crucial?
Is acceptance likely if I decide alone?
Is there goal congruence?
Is conflict between group members likely?

Path-goal theory

a leadership theory that states that leaders can increase subordinate satisfaction and performance by clarifying and clearing the paths to goals and by increasing the number and kinds of rewards available for goal attainment

Situational Leadership (Hersey & Blanchard Model)

- Amount of task guidance/direction

- Amount of relational support

- Readiness level/maturity of members

- Telling - specific instructions; closely supervise

- Selling - explain decisions; opp. for clarification

- Participating - share ideas, facilitate in decision making; more concern w/ ppl than what's going on

- Delegating - turn over responsibility fordecisions and implementation (laissez-faire style)

Charismatic leader

A person who is dominant, self-confident, convinced of the moral righteousness of his beliefs, and able to arouse a sense of excitement and adventure in followers.

Transformational leader

A leader who motivates people to transcend their personal interests for the good of the group.

Transactional Leader

a leader who clarifies subordinates role and task requirements, initiates structure, provides rewards, and displays consideration for subordinates

Authentic Leader

Leader has a conscious and well-developed sense of values and acts in ways that are consistent to their value systems.

Servant Leader

A leader who has a strong desire to serve and work for the benefit of others.

Servant Leader

A leader who has a strong desire to serve and work for the benefit of others.

Bridge leaders

A leader who bridges conflicting value systems or different cultures.

Lateral Leadership

a style in which colleagues at the same hierarchical level are invited to collaborate and facilitate joint problem solving

Shared leadership

Rotating leadership, in which people rotate through the leadership role based on which person has the most relevant skills at a particular time.

Goal-Setting Theory

The idea that setting ambitious but attainable goals can motivate workers and improve performance if the goals are accepted, accompanied by feedback, and facilitated by organizational conditions.

Intrinsic Reward

The personal satisfaction you feel when you perform well and complete goals.

Extrinsic reward

a reward that is tangible, visible to others, and given to employees contingent on the performance of specific tasks or behaviors

Expectancy Theory of Motivation (VIE)

the idea is that people put effort towards things that they get rewarded for when they like the reward. Valence (how much one values the reward) x Expectancy (probability that ones effort will result in performance) x Instrumentality (probability that one's performance will result in reward).

Physiological: food, water, sex, & shelter
Safety: protection from threat, etc.
Social: friendship, affection, belonging, etc.
Ego: independence, achievement, etc.
Self-actualization: realizing one's full potential

Alderfer's ERG Theory

existence - desires for physiological and material well being
relatedness - desires for satisfying interpersonal relationships
growth - desires for continued personal growth and development needs

McClelland's need theory (3 parts)

Need for achievement

Need for affiliation

Need for power

Job Enlargement

Increasing the number of different tasks in a given job by changing the division of labor.

Job Rotation

A job enrichment strategy that involves moving employees from one job to another.

Job Enrichment

changing a task to make it inherently more rewarding, motivating and satisfying

Herzberg-two factor theory

Herzberg-two factor theory

1. Hygiene factors- factors that involve the presence or absence of job dissatisfaction, including working conditions, pay, company policies, and interpersonal relationships

2. Motivators- factors that influence job satisfaction based on fulfillment of high-level needs such as achievement, reorganization, responsibility, and opportunities for growth

Hackman-Oldham Model

The way jobs are designed produces critical psychological states
Outcomes: drive to succeed, attention to quality, satisfaction with work
Employees must feel their jobs are meaningful
Five Core Dimensions: Variety of skills, responsible for an entire piece of work, positive effect on people, discretion in decision making, accurate info

Growth Need Strength (Hackman & Oldham)

Skill Variety
Task Identity
Autonomy
Feedback

Equity Theory

The idea that people are happiest with relationships in which the rewards and costs experienced and the contributions made by both parties are roughly equal

Procedural justice

the perceived fairness of the process used to make reward allocation decisions

Distributive justice

the perceived degree to which outcomes and rewards are fairly distributed or allocated

Psychological contracts

employees' beliefs about what they owe the organization and what the organization owes them

Interpersonal Communication

Informal interaction between two people who have an identifiable relationship with each other.

One-Way Communication

a process in which information flows in only one direction -- from sender to the receiver, with no feedback loop

Two-Way Communication

a process in which information flows in 2 directions -- the receiver provides feedback and the sender is receptive to the feedback

Filter

(Communication Barriers)

Conveying only certain parts that are relevant

Perception (Communication Barriers)

Selectively seeing and hearing based on their needs, motivations, experience, background, and other personal characteristics

Noise (Communication Barriers)

Anything that interferes with the effectiveness of communication

Semantic problems

Absence of feedback

Improper channels

Physical distractions

Status effects

Cultural differences

allows for employee input, increased motivation/satisfaction, manager summarizes info and passes it up for decissions
ex's: suggestion boxes, open door policies, staff meetings, surveys

Information richness of communication channels: Lowest to highest

-Formal reports, bulletins

-Memos, letters

-Pre-recorded speeches

-Email

-Online discussion groups

-Voicemail

-Live speeches

-Telephone conversations

-Video conferences

-Face to face

traditional, manager communicated down through the levels, gives info needed to coordinate staff; contributes to greater job dissatisfaction than upward communication
ex's: employee handboook, job description, memos

Horizontal Communication

information shared among people on the same hierarchical level

Formal Communication Channel

A communication channel that flows within the chain of command or task responsibility defined by the organization.

Informal communication

"the grapevine"; coexists w/formal methods is rapid and can be distorted, info often incomplete so ppl often make up missing peices; very informative for managers

Virtual office

Allows employees to work at any place where they have access to computers, software, and other technology that enables them to perform their normal work activities

Boundaryless Organization

An organization that seeks to eliminate the chain of command, have limitless spans of control and replace departments with empowered teams

Control Systems

Formal target-setting, monitoring, evaluation, and feedback systems that provide managers with information about how well the organization's strategy and structure are working.

4 Steps in the Control Process

1. Establish Standards

2. Measure Performance

3. Compare Performance to Standards

4. Take Corrective Action, If Necessary

Bureaucratic Control

the uses of rules, regulations, and authority to guide performance

Market Control

control based on the use of pricing mechanism and economic information to regulate activities within organizations

Clan Control

The control exerted on individuals and groups in an organization by shared values, norms, standards of behavior, and expectations.

Feedforward Control

Control that allows managers to anticipate problems before they arise.

Concurrent Control

Control that gives managers immediate feedback on how efficiently inputs are being transformed into outputs so that managers can correct problems as they arise.

Feedback Control

Control that focuses on the use of information about previous results to correct deviations from the acceptable standard.

Management Audits (external, internal)

-Management audit: an evaluation of the effectiveness and efficiency of various systems within an org.

-External Audit: evaluation conducted by one org, such as a CPA firm, on another.

-Internal Audit: periodic assessment of a company's own planning, organizing leading, and controlling processes.

Budgetary Controls

The process of investigating what is being done and comparing the results with thecorresponding budget data to verify accomplishments or remedy differences, Sales Expense Budget

Financial Controls

largely objective criteria used to measure the firm's performance against previously established quantitative standards

About this deck

By: Hunter Wilson
Created: 2012-05-06
Size: 69 flashcards
Views: 31

About StudyBlue

“I have been getting MUCH better grades on all my tests for school. Flash cards, notes, and quizzes are great on here. Thanks!”
Kathy