Mid-Term Study Guide
MGMT 3070 Mid-Term Study Guide:
1. What is Planning, Organizing, Leading and Controlling?
- Planning
- Setting organizational goal
- Organizing
- Determining tasks and groupings of work
- Assigning tasks to individuals in the organization
- Leading
- Working with people within organizations
- Guiding the activities of organization members in appropriate directions
- Controlling
- Monitoring and measuring organizational performance
- Determining if organization should be modified to meet pre-established standards
2. Understanding of Business Social Responsibility
- The managerial obligation to take action that protects and improves both the welfare of society as a whole and the interests of the organization
3. Understanding of the followings:
A) Consumer Product Safety Commission
- Strives to reduce consumer misunderstanding of manufacturers’ product design, labeling, and so on, by promoting clarity of these messages
B) Mining Enforcement and Safety Administration
- Attempts to improve safety conditions for mine workers by enforcing all mine safety and equipment standards
C) Occupational Safety and Health Administration
- Regulates safety and health conditions in non government workplaces
D) Environmental Protection Agency
- Formulates and enforces environmental standards in such areas as water, air, and noise pollution
E) Equal Employment Opportunity Commission
- Investigates and conciliates employment discrimination complaints that are based on race, sex, or creed
F) Diversity in Workplace
Advantages of a Diverse Workforce
- Improved ability to gain & keep market share
- Cost savings
- Increased productivity
- A more innovative workforce
- Minority & women employees who are more motivated
- Better quality of managers
- Employees who have internalized the message that “different” does not mean “less than”
- A workforce that is more resilient when faced with change
- Millennial (Generation Y)
- Born after 1980
- Generation X
- Born between 1965 and 1980
- Baby Boomers
- Born between 1946 and 1964
- Silent (Greatest) Generation
- Born between 1928 and 1945
4. International & Multinational Organization
- International organization
- only imports and exports
- Maintaining ethics
- –What seems ethical in a manager’s home country might be unethical in a different country
–Respecting core human rights
–Respecting local traditions
–Determining right from wrong situationally - Preparing expatrates for foreign assignments
- Nn Culture profiles
–Cultural adaptation
–Logistical information
–Application - Multinational organization
- expanding beyond imports and exports.
- Build facilities on foreign country
- Risks
- Requires a substantial investment in foreign operations
•Expectations of investments
•Lack of understanding risks
•Uncertainty of achieving desired outcomes
•Serious financial problems resulting from poor investment - The workforce
- Expatriates
–Organization member living in a country where they do not have citizenship
•Host-Country Nationals
–Organization member who is a citizen of the country where the foreign-based organization is located
•Third-Country Nationals
–Organization member who is a citizen of one country and works for an organization headquartered in another country - Workforce challenges
- Workforce Adjustments
–Expatriates & Third-Country Nationals need to adjust to a new culture
•Adjusting to a New Culture
–Food, weather, language, attitudinal, perceptual differences
•Repatriation
–Bringing expatriates back home
MNC Workforce Challenges - Management functions
•Planning
–Determining how the organization will achieve its objectives
•Imports/Exports
•License Agreements
•Direct Investing
•Joint Ventures
•International Market Agreements
–EU – NAFTA - APEC- Organizing
–Organizational Structure
–Selection of Managers
–Managerial Attitudes Toward Foreign Operations
•Ethnocentric
•Polycentric
•Geocentric
5. Planning and its terms (long, intermediate and short term)
- Short-Term
- Targets to be reached in 1 year or less
- Intermediate-Term
- Targets to be achieved in 1-5 years
- Long-Term
- Targets to be achieved in 5-7 years
6. Decision Making Process.
- Step 1 – Identifying an Existing Problem
- Only after identifying the barriers is management able to take the steps necessary to eliminate them
- Barnard’s sources of input for identifying problems:
- Orders issued by supervisors
- Situations relayed by employees
- Normal activity of managers themselves
- Step 2- Listing Alternative Solutions
- Step 3 - Selecting the most beneficial alternative
- List as accurately as possible potential effects and impact of each alternative
- Assign probability factor to each potential effect
- Compare each alternative's expected effects and respective probabilities of those effects
- Step 4 - Implementing the chosen alternative
- Put the chosen alternative into action
- Step 5 - Gathering Problem-related feedback
- Gather the feedback to determine the effect of the implemented alternative on the problem
- If problem is not solved, managers need to seek out and implement another alternative
7. Strategic Plaunning, People Efficiencies, and Organizational Environment.
Strategic planning
- long range planning focused on the organization as a whole
8. Understanding the Organizing Process, Fayol, Max Weber.
Organizing Process
Fayol’s Organizing Guidelines
Weber’s Bureaucratic Model:
- Detailed procedures and rules
- Clearly outlined organizational hierarchy
- Impersonal relationships among organizational members
9. Understanding the Organizing Process and the followings:
A) job specification
B) job evaluation
C) job description: Summary of individuals job activities and communicates job content and performance expectation of employees
D) management responsibility guide - 
E) organization chart
–Graphic illustration of firm’s organization structure
–Pyramid form
–Boxes are jobs/positions
–Lines designate formal communication lines
F) work sample
G) work plan
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