BCOR 1010 Final Review Sheet 2

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University of Colorado - Boulder
Business Core
BCOR 1015
Beth Cross

BCOR 1010 Final Review Sheet Operations Management 1. What is it and why is it important a. Operations Management: the development and administration of the activities involve din transforming resources into goods and services b. Resources to transformation to goods/services c. Importance: provides competitive advantage i. New strategies are needed in a global environment 2. What do operations managers concern themselves with? a. What product or service?-the product that will bring the most revenue b. Which processes? c. Which facilities? i. Location, layout, capacity d. Optimizing productivity, efficiency, and cost savings e. How to control, improve, and measure quality 3. Quality a. The degree to which a good or service or idea meets the demands of a customer; elimination of defects b. Quality is free c. Absence of quality is expensive 4. Supply chain management a. Supply chain: the flow if information, materials, and services starting with raw materials and continues through all stages of operations until the product reaches the consumer i. Suppliers ii. Manufacturers iii. Distributer iv. Retailer v. Customers b. Supply chain management: connecting all the parties in the chain 5. Quality Management Tools a. Total Quality Management (TQM) b. Statistical Process Control (SPC) c. ISO 9000…. And other industry-specific certifications Management 1. Employee Motivation a. What motivates employees to preform on the job is the focus of human relations b. Human relations: the study of the behavior of individuals and groups in organizational settings c. Maslow’s Hierarch of Needs (Pyramid) d. Extrinsic vs. Intrinsic rewards i. Extrinsic 1. Pay 2. Benefits 3. Title 4. Perks ii. Intrinsic 1. Interest in the job 2. Self-esteem 3. Peer respect 4. Love of work e. Importance of Motivation i. Fosters employee loyalty ii. Boosts productivity iii. Affects all relationships within the organization iv. Influences compensation, job design, training and reporting relationships f. Theories of Motivation i. Classical Theory of Motivation (Theory X) 1. Money is the sole motivator for workers 2. Scientific Management school of thought 3. McGregor’s Theory X: management view that assumes workers generally dislike work and must be forced to do their jobs ii. Theory Y 1. Management view that assumes workers like to work and under proper conditions, employees will seek responsibility to satisfy social, esteem, and self- actualization needs iii. Ouchi’s Theory Z 1. A management philosophy that stresses employee participation in all aspects of company decision making a. Quality circles b. Participative management c. Self-directed work teams d. “Empowerment” g. Implications of the three theories on Work System Design 2. Human Resources Management Tools/ Functions a. Planning i. Assess current and future needs b. Job analysis/ job description i. The determination through observation of information about a job including tasks and abilities, knowledge, and skills ii. Job description: written description of a specific job iii. Job specification: description of qualifications needed for a specific job c. Recruitment i. Attracting qualified applicants to your candidate pool ii. Internal vs. external 1. Inside the company 2. Outside the company iii. Constant recruiting d. Selection i. Collecting info about applicants and deciding who to hire ii. Methods must be valid and reliable iii. Regency vs. primacy 1. Valid questions e. Performance appraisal i. The evaluation of the performance of an employee as measured against a set criteria ii. Benefits: identify able/ unable, development, rewards, motivation, termination justification iii. Methods: rating scales, essay descriptions iv. Valid and reliable f. Training and career planning i. Training: short term ii. Development: long term g. Compensation i. Total package of rewards ii. Benefits are a growing percentage h. Termination i. Employment at will ii. Legal limitations iii. Practicality Human Resources: organizational activities directed at attracting, developing, and maintaining an effective work force 3. Human Resources Legislation  Equal Pay act: men and women must be paid equally for equal work  Title VII of Civil Rights Act: Equal Employment Opportunity  Age Discrimination: no discrimination of people 40-69 years old  Disabilities: No discrimination of people with disabilities  ADVERSE IMPACT 4. Types of Employees a. Willing and Able i. Give these employees opportunities for growth ii. HR tools: compensations b. Willing and Unable i. Train these people ii. Find other jobs they are able to do iii. HR tools: performance appraisal, training and development c. Unwilling and able i. Find another job for these people ii. Look for incentives to make them will to do their job iii. HR tools: selection, performance appraisal d. Unwilling and unable i. Fire them ii. HR tools: job analysis, selection, termination 5. Labor Relations a. Why do workers join unions? i. Better wages, hours, and working conditions ii. People believe management acts unfairly without just cause iii. Gives employees a sense of powerfulness b. Tends: how have unions evolved over time? Why has unionization declined? i. Labor unions are declining ii. Why? 1. Improved working conditions 2. Union corruption 3. Increased involvement of women and younger workers 4. Shift to service industry employment 5. Public image of labor unions 6. Employers are good at resisting unions iii. What are the effects of unions on managing the workforce? 1. Unions increase business cost and decreases management control 2. The collective bargaining agreement constrains
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