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Final

MGT300FinalReview.docx

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School
Arizona State University
Department
Management
Course
MGT 300
Professor
Sweat
Semester
Fall

Description
Exploring Management Chapter 4 4.1 Answers to come:  Managers deal with problems posing threats and offering opportunities.  Managers can be problem avoiders, problem solvers, or problem seekers.  Managers make programmed and nonprogrammed decisions when solving problems.  Managers can use systematic and intuitive thinking.  Managers use different cognitive styles to process information for decision- making.  Managers make decisions under conditions of certainty, risk, and uncertainty. Problem solving- involves identifying and taking action to resolve problems. Knowledge workers- add value to organizations through their intellectual capabilities. Information competency- is the ability to gather and use information to solve problems. Performance threat- is a situation where something is wrong or likely to be wrong. Performance opportunity- is a situation that offers the possibility of a better future if the right steps are taken. Decision- is a choice among possible alternative courses of action. Programmed decision- applies a solution from past experience to a routine problem. Nonprogrammed decision- applies a specific solution that has been crafted to address a unique problem. Systematic thinking- approaches problems in a rational and analytical fashion. Intuitive thinking- approaches problems in a flexible and spontaneous fashion. Cognitive style- is the way an individual deals with information while making decisions. Certain environment- offers complete information on possible action alternatives and their consequences. Risk environment- lacks complete information but offers probabilities of the likely outcomes for possible action alternatives. Uncertain environment- lacks so much information that it is difficult to assign probabilities to the likely outcomes of alternatives. 4.2 Answers to come:  Step 1 identify the problem and define the problem  Step 2 is to generate and evaluate alternative courses of action.  Step 3 is to decide on a preferred course of action.  Step 4 is to implement the decision.  Step 5 is to evaluate results.  Ethical reasoning is important at all steps in decision making. Decision-making process- begins with identification of a problem and ends with evaluation of implemented solutions. Cost-benefit analysis- involves comparing the costs and benefits of each potential course of action. Classical decision model- describes decision making with complete information. Optimizing decision- chooses the alternative providing the absolute best solution to a problem. Behavioral decision model- describes decision making with limited information and bounded rationality. Satisfying decision- chooses the first satisfactory alternative that presents itself. Lack-of-participation error- is failure to include the right people in the decision- making process. 1st set of ethics questions based on 4 criteria by ethicist Gerald Cavanagh: 1. Utility- Does the decision satisfy all constituents or stakeholders? 2. Rights- Does the decision respect the rights and duties of everyone? 3. Justice- Is the decision consistent with the canons of justice? 4. Caring- Is the decision consistent with my responsibilities to care? Spotlight questions- highlights the risks of public disclosure of one’s actions. 1. “How may I feel if my family found out about the decision?” 2. How would I feel if this decision was published in the local newspaper or posted on the Internet?” 3. What would the person I know who has the strongest character and best ethical judgment say about my decision?” 4.3 Answers to come:  Personal factors help drive creativity in decision-making.  Group decision-making has both advantages and disadvantages.  Judgmental heuristics and other biases and traps may cause decision-making errors.  Managers must be prepared for crisis decision-making. Creativity- is the generation of a novel idea or unique approach that solves a problem or crafts an opportunity. Why group decision are often good  More information- More information, expertise, and viewpoints are available to help solve problems.  More alternatives- More alternatives are generated and considered during decision making.  Increased understanding- there is increased understanding and a greater acceptance of the decision by group members.  Greater commitment- There is an increased commitment of group members to work hard and support the decision. Why group decisions are bad  Conformity with social pressures- Some members feel intimidated by others and give in to social pressures to conform.  Domination by a few members- A minority dominates; some members get railroaded by a small coalition of others.  Time delays- More time is required to make decisions when many people try to work together. Availability heuristic- uses readily available information to assess a current situation. Representativeness heuristic- assesses the likelihood of an occurrence using a stereotyped set of similar events. Anchoring and adjustment heuristic- adjusts a previously existing value or starting point to make a decision. Farming error- is solving a problem in the context period. Conformation error- is when we attend only to information that confirms a decision already made. Escalating commitment- is the continuation of a course of action even though it is not working. Crisis- an unexpected problem that can lead to disaster if not resolved quickly and appropriately. Chapter 10 10.1 Answers to come:  Human resource management attracts, develops, and maintains a talented workforce.  Strategic human resource management aligns human capital with organizational strategies.  Government legislation protects against employment discrimination.  Laws can’t guarantee that employment discrimination will never happen. Human resource management (HRM)- the process of attracting, developing, and maintaining a high-quality workforce. Human capital- the economic value of people with job-relevant abilities, knowledge, ideas, energies, and commitments. Strategic human resource management- mobilizes human capital to implement organizational strategies. Job discrimination- occurs when someone is denied a job or job assignment for non-job relevant reasons. Equal employment opportunity (EEO)- the right to employment and advancement without regard to r ace, sex, color, or national origin. Affirmative action- is an effort to give preference in employment to women and minority group members. Bona fide occupational qualifications- are employment criteria justified by capacity to perform a job. Samples of U.S. laws against employment discrimination:  Pay  Age  Pregnancy  Disabilities  Family matters Employee privacy- the right to privacy on and off the job. Pay discrimination- occurs when men and women are paid differently for doing equal work. Pregnancy discrimination- penalizes a woman in a job or as a job applicant for being pregnant. Age discrimination- penalizes an employee in a job or as a job applicant for being over the age of 40. 10.2 Answers to come:  Recruitment attracts qualified job applicants.  Selection makes decisions to hire qualified job applicants.  Socialization and orientation integrate new hires into an organization.  Training continually develops employee skills and capabilities.  Retention and career development provide career paths. Person-job fit- is the match of individual skills, interests, and personal characteristics with the job. Person-organization fit- is the match of individual values, interests, and behavior with the organizational culture. Recruitment- is a set of activities designed to attract a qualified pool of job applicants. Realistic job previews- provides job candidates with all pertinent information about a job and organization. Selection- choosing whom to hire from a pool of qualified applicants. Reliability- means that a selection device gives consistent results over repeated measures. Validity- means that scores on a selection device have demonstrated links with future job performance. Assessment center- examines how job candidates handle simulated work situations. Work sampling- evaluates applicants as they perform actual work tasks. Socialization- systematically influences the expectations, behavior, and attitudes of new employees. Orientation- familiarizes new employees with jobs, co-workers, and organizational policies and services. Coaching- occurs as an experienced person offers performance advice to a less experienced person. Mentoring- assigns early-career employees as protégés to more senior ones. Reverse mentoring- younger and newly hired employees mentor senior executives, often on latest developments with digital technologies. Performance appraisal- the process of formally evaluating performance and providing feedback to a job holder. Graphic rating scale- uses a checklist of traits or characteristics to evaluate performance. Behaviorally anchored rating scale (BARS)- uses specific descriptions of actual behaviors to rate various levels of performance. Critical-incident technique- keeps a log of someone’s effective and ineffective job behaviors. 360 degree feedback- includes superiors, subordinates, peers, and even customers in the appraisal process. Multiperson comparison- compares one person’s performance with that of others. Career development- the process of managing how a person grows and progresses in a career. Career planning- the process of matching career goals and individual capabilities with opportunities for their fulfillment. 10.3 Answers to come:  Today’s lifestyles increase demands for flexibility and work-life balance.  Organizations use more independent contractors and part-time workers.  Compensation plans influence employee recruitment and retention.  Fringe benefits are an important part of employee compensation packages.  Labor relations and collective bargaining are closely governed by law. Work-life balance- involves balancing career demands with personal and family needs. Independent contractors- are hired on temporary contracts and are not part of the organization’s permanent workforce. Contingency workers- work as needed and part-time, often on a longer-term basis. Merit pay- awards pay increases in proportion to performance contributions. Bonus pay- plans provide one-time payments based on performance accomplishments. Profit sharing- distributes to employees a proportion of net profits earned by the organization. Gain sharing- allows employees to share in cost savings or productivity gains realized by their efforts. Stock options- give the right to purchase shares at a fixed price in the future. Fringe benefits- are nonmonetary forms of compensation such as health insurance and retirement plans. Family-friendly benefits- help employees achieve better work-life balance. Flexible benefits- programs allow choice to personalize benefits within a set dollar allowance. Employee assistance programs- helps employees cope with personal stresses and problems. Labor union- an organization that deals with employers on the workers’ collective belief. Labor contract-a formal agreement between a union and an employer about the terms of work for union members. Collective bargaining- the process of negotiating, administrating, and interpreting a labor contract. Two-tier wage systems- pay new hires less than workers already doing the same job with more seniority. Chapter 11 11.1 Answers to come:  Le
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