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Business Management
| Term | Definition |
|---|---|
| Vision | A mental image of the possible and desirable future state of the organization |
| Supervisory Leadership | behavior that provides guidance, support, and corrective feedback for day to day activities |
| strategic leadership | behavior that gives purpose and meaning to organizations, envisioning and creating a positive future. |
| power | the ability to influence others |
| trait approach | leadership perspective that attempts to determine the personal characteristics that great leaders share |
| behavioral approach | leadership perspective that attempts to identify what good leaders do |
| task performance behaviors | actions taken to ensure that the work group or organization reaches its goals |
| group maintenance behaviors | actions taken to ensure the satisfaction of group members, develop and maintain harmonious work relationships, and preserve the social stability of the group |
| LEADER-MEMBER EXCHANGE theory | highlights the importance of leader behaviors not just toward the group as a whole but toward individuals on a personal basis |
| participation in decision making | leader behaviors that managers perform in involving their employees in making decisions |
| autocratic leadership | leader makes decisions |
| democratic | leadership where the leader gets input from subordinates |
| laissez-faire | Absence of managerial decision making |
| situational approach | theory where effective leaders vary from situation to situation |
| Vroom Model | situational model that focuses on the participative dimension of leadership |
| Fiedlers contingency model of leadership effectiveness | situational approach to leadership postulating that effectiveness depends on the personal style of the leader and the degree to which the situation gives the leader power, control, and influence of the situation |
| task-motivated leadership | leadership that places primary emphasis on completing a task |
| relationship=motivated leadership | leadership that places primary emphasis on maintaining good interpersonal relationships |
| hersey and blanchards situational theory | life-cycle theory of leadership postulating that a manager should consider an employees psychological and job maturity before deciding whether task perfomance or maintenance behaviors are more important |
| job maturity | level of the employees skills and technical knowledge relative to the task being performed |
| psychological maturity | employees self confidence and self respect |
| path goal theory | theory that concerns how leaders influence subordinates perceptions of their work goals and the paths they follow toward attainment of those goals |
| substitutes for leadership | factors in the workplace that can start exert the same influence on employees as leaders would provide |
| charismatic leader | a person who is dominant, self-confident, convinced of the moral righteousness of his or her 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 leaders | leaders who manage through transactions, using their legitimate, reward, and coercive powers to give commands and exchange rewards for services rendered |
| Level 5 leadership | a combination of strong professional will and humility that builds enduring greatness |
| authentic leadership | a style in wihch the leader is true to himself or herself while leading |
| pseudo-transformational leaders | leaders who talk about positive change but allow their self-interest to take precedence over followers needs |
| servant leader | leader who serves others' needs while strengthening the organization |
| bridge leaders | a leader who bridges conflicting value systems or different cultures |
| shared leadership | rotating leadership |
| lateral leadership | style in which colleagues at the same hierarchical level are invited to collaborate and facilitate joint problem solving |
| motivation | forces that energize, direct, and sustain a persons efforts |
| goal-setting theory | a motivation theory stating that people have conscious goals that energize them and direct their thoughts and behaviors toward a particular end |
| stretch goals | targets that are particularly demanding |
| law of effect | law by Edward Thorndike, stated that behavior that is followed by positive consequences will likely be repeated |
| reinforcers | positive consequences that motivated behavior |
| organizational behavior modification | application of reinforcement theory in organizational settings |
| positive reinforcement | increasing the likelihood that a person will repeat the behavior that led to it |
| negative reinforcement | removing or withholding an undesirable consequence |
| punishment | administering an aversive consequence |
| extinction | withdrawing or failing to provide a reinforcing consequence |
| expectancy theory | a theory proposing that people will behave based on their perceived likelihood that their effort will lead to a certain outcome and on how highly they value that outcome |
| expectancy | employees perception of the likelihood that their efforts will enable them to attain their performance goals |
| outcome | consequence a person receives for his or her performance |
| instrumentality | perceived likelihood that performance will be followed by a particular outcome |
| valence | the value an outcome holds for the person contemplating it |
| Maslow's need hierarchy | conception of human needs organizing needs into a hierarchy of five major types |
| Alderfer's ERG theory | human needs theory postulating that people have three basic sets of needs that can operate simultaneously |
| extrinsic rewards | rewards given by the boss or company |
| intrinsic rewards | reward a worker derives directly from performing the job itself |
| job rotation | changing from one routine to another to alleviate boredom |
| job enlargement | giving people additional tasks at the same time to alleviate boredom |
| job enrichment | changing a task to make it inherently more rewarding |
| two-factor theory | herzbergs theory describing two factors affecting peoples work motivation and satisfaction |
| hygiene factor | characteristics of the workplace, such as company policies, working conditions, pay, and supervision that can make people dissatisfied |
| motivators | factors that make a job more motivating |
| growth need strength | degree to which individuals want personal and psychological development |
| empowerment | process of sharing power with employees thereby enhancing their confidence in their ability to perform their jobs and their belief that they are influential contributors to the organization |
| equity theory | a theory stating that people assess how fairly they have been treated according to two key factors; outcomes and inputs. |
| procedural justice | using fair process in decision making and making sure others know what the process was as fair as possible |
| Quality of work life programs | programs designed to create a workplace that enhances employee well-being |
| psychological contract | set of perceptions of what employees owe their employers and what their employers owe them |
| Human resources management | formal systems for the management of people within an organization |
| human capital | knowledge, skills, and abilities of employees that have economic value |
| job analysis | tool for determining what is done on a given job and what should be done |
| recruitment | development of a pool of applicants for jobs in an organization |
| selection | choosing from among qualified applicants to hire into an organization |
| structured interview | selection technique that involves asking all applicants the same questions and comparing their responses to a standardized set of answers |
| assessment center | managerial performance test in which candidates participate in a variety of exercises and situations |
| reliability | consistency of test scores over time and across alternative measurements |
| validity | degree to which a selection test predicts or correlates with job performance |
| outplacement | process of helping people who have been dismissed from the company regain employment elsewhere |
| employment-at-will | legal concept that an employee may be terminated for any reason |
| termination interview | a discussion between a manager and an employee about the employees dismisal |
| adverse impact | when a seemingly neutral employment practice has a disproportionately negative effect on a protected group |
| training | teaching lower-level employees how to perform their present jobs |
| development | helpings managers and professional employees learn the broad skills needed for their present and future jobs |
| needs assessment | analysis identifying the jobs, people, and departments for which training is necessary |
| orientation training | training designed to introduce new employees to the company and familiarize them with policies, procedures, culture, and the like. |
| team training | training that provides employees with the skills and perspectives they need to collaborate with others. |
| diversity training | programs that focus on identifying and reducing hidden biases against people with differences and developing the skills needed to manage a diversified workforce. |
| performance appraisal | assessment of an employees job performance |
| management by objectives | process in which objectives set by a subordinate and a supervisor must be reached within a given time period |
| 360-degree appraisal | process of using multiple sources of appraisal to gain a comprehensive perspective on ones performance |
| cafeteria benefit program | employee benefit program in which employees choose from a menu of options to create a benefit package tailored to their needs |
| flexible benefit programs | benefit programs in which employees are given credits to spend on benefits that fit their unique needs |
| comparable worth | principle of equal pay for different jobs of equal worth |
| labor relations | system of relations between works and management |
| arbitration | use of neutral third party to resolve a labor disput |
| union shop | organization with a union and a union security clause specifying that workers must join the union after a set period of time |
| right-to-work | legislation that allows employees to work without having to join a union |
| programmed decisions | decisions encountered and made before having objectively correct answers, and solvable by using simple rules, policies, or numerical computations |
| nonprogrammed decisions | new, novel, complex decisions having no proven answers |
| certainty | the state that exists when decision makers have accurate and comprehensive information |
| uncertainty | state that exists when decision makers have insufficient info |
| risk | when the probability of success is less than 100 percent and losses may occur |
| conflict | opposing pressures from different sources, occurring on the level of psychological conflict or of conflict between individuals or groups |
| ready-made solutions | ideas that have been seen or tried before |
| custom-made solutions | new, creative solutions designed specifically for the problem |
| contingency plan | alternative courses of action that can be implemented based on how the future unfolds |
| maximizing | best possible outcome |
| satisficing | choosing an option that is acceptable, although not necessarily the best or perfect |
| optimizing | achieving the best possible balance among several goals |
| vigilance | a process in which a decision maker carefully executes all stages of decision making |
| illusion of control | peoples beliefs that they can influence events |
| framing effects | decision bias influenced by the way in which a problem or decision alternative is phrased or presented |
| discounting the future | bias weighing short-term costs and benefits more heavily than longer-term costs and benefits |
| groupthink | phenomenon that occurs in decision making when group members avoid disagreement as they strive for consensus |
| goal displacement | a condition that occurs when a decision making group loses sight of its original goal and a new, less important goal emerges |
| cognitive conflict | issue-based differences in perspectives or judgements |
| affective conflict | emotional disagreement direct toward other people |
| devils advocate | person who has the job of criticizing ideas to ensure that their downsides are fully explored |
| dialectic | a structured debate comparing two conflicting courses of action |
| brainstorming | a process in which group members generate as many ideas about a problem as they can |
| bounded rationality | less than perfect form of rationality in which decision makers cannot be perfectly rational because decisions are complex and complete info is unavailable |
| incremental model | model of organizational decision making in which major solutions arise through a series of smaller decisions |
| coalitional model | model of organizational decision making in which groups with differing preferences use power and negotiation to influence decisions |
| garbage can model | model of organizational decision making depicting a chaotic process and seemingly random decisions |
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