CHAPTER 1: The Dynamic New Workplace
Intellectual Capital: is the collective brainpower or shared knowledge of a workforce.
Knowledge Worker: is someone whose mind is a critical asset to employers.
Globalization: is the worldwide interdependence of resource flows, product markets, and business
Workforce Diversity: describes differences in gender, race, age , ethnicity among workers.
Prejudice: is the display of negative, irrational attitudes toward women or minorities.
Glass ceiling effect: is an invisible barrier limiting career advancement of women and minorities.
Ethics: set moral standards of what is "good" and "right" in one's behaviour.
Corporate Governance: is oversight of a company's management by a board of directors.
Open System: organizations interact with their environment to transform resources into product output.
money activities Finished
RESOURCEINPUmaterials TRN PROCESSIO turn OUTPUTS goods and or
technology resources services.
Performance Effectiveness: is an output measure of task or goal accomplishment.
Performance Efficiency: is an input measure of resource costs associated with goal accomplishment. TOP MANAGERS:guide
the performance of the MIDDLE PROJECT
organization as a whole MANAGERS:oversee the MANAGERS:coordinate
work of large complex projects with
or of one of its major departments or divisions. task deadlines.
LINE MANAGERS: STAFF MANAGERS: use FUNCTIONAL
contribute to the MANAGERS: responsible
production of the special technical for one area of activity
expertise to advise and
organization's basic suport line managers. such as finance or
goods or services. marketing or sales.
GENERAL MANAGERS: ADMINISTRATOR: is a
responsible for complex
manager in a public or
multi-functional units. non-profit organization.
Accountability: is the requirement to show performance results to one's immediate supervisor.
Quality of work life: is the overall quality of human experiences in the workplace.
ringperformanceand THE arrangingtasks,
takingaction to MANAGEMENT people, and other
enresults.red PROCESS accomplishwork
peopleto work hard
performance. How a manager interacts with other people
INFORMATIONAL Monitoranager exchanges and processes information
How a manager uses information in decision making
Technical Skill: is the ability to use expertise to perform a task with proficiency.
Human Skill: ability to work well in co-operation with other people.
Conceptual Skill: is the ability to think analytically and solve complex problems.
Managerial Competency: is a skill-based capability for high performance in a management job.
Total Quality Management: is managing with commitment to continuous improvement, product quality,
and customer satisfaction.
CHAPTER 7: Information & Decision Making
Certain Environment: alternative courses of action and their outcomes are known to decision makers.
Risk Environment: Decision maker views alternatives and their outcomes in terms of probabilities.
Uncertain Environment: Decision maker doesn't know all alternatives and outcomes, even as
Information Systems: use IT to collect, organize and distribute data for use in decision making.
Groupware: is software that facilitates group collaboration and problem solving.
Expert Systems: allow computers to mimic the thinking of human experts for applied problem solving.
How do managers use information to make decisions?
Managerial advantages of IT utilization: Planning Advantages
Intranets & Corporate portals: use the web for communication and data sharing within an organization.
Electronic data Interchange: uses controlled access to enterprise portals to enable firms to electronically
transact business with one another.
Programmed Decision: applies a solution from past experience to a routine problem.
Structured Problems: are straightforward and clear information needs.
Non-programmed Decision: applies a specific solution crafted for a unique problem.
Crisis Management: is preparation for the management of crises that threaten an organization's health
Systematic Thinking: approaches problems in a rational & analytical fashion.
Intuitive Thinking: approaches problems in a flexible and spontaneous fashion.
Strategic Opportunism: focuses on long-term objectives while being flexible in dealing with short-term
STEP 2: Generate & STEP 3: Make
STEP 1: Find &
define the problem evaluate alternative decision & conduct
solutions ethics double-check
STEP 4: Implement STEP 5: Evaluate
the decision results.
Cost Benefit Analysis: involves comparing the costs and benefits of each potential course of action.
Classical decision making: describes decision making with complete information.
Behavioural decision making: describes decision making with limited information & bounded rationality.