MGT 363

TEST 1 Review

Time should be considered a limited resource.

In managing your time, classify each activity as A, B, or C.

A- Important and urgent
B- Either important or urgent
C- Routine, not important or urgent, still need to get done

Manager- someone who coordinates and oversees the work of other people so organizational
goals can be accomplished.

First-line managers- managers at the lowest level of management who manage the work of
non-managerial employees. (supervisor, shift manager, district, department, or office manager)

Top manager- managers at or near the upper levels of the organizational structure, responsible
for making organization-wide decisions and setting goals and plans that affect the entire
organization. (executive VP, president, managing director, COO or CEO)

***KNOW the steps in the decision making process***

Step 1: Identify a problem
Step 2: Identify Decision Criteria
Step 3: Allocate Weights to the Criteria
Step 4: Develop Alternatives
Step 5: Analyze Alternatives
Step 6: Select an Alternative
Step 7: Implement the Alternative
Step 8: Evaluate Decision Effectiveness

Implementing an alternative- involve those affected, reassess the environment for changes

When making a decision about the process, involve those impacted by the decision in the
process.

Creativity is most essential during the Developing Alternatives step of the decision making
process.
The final step in the decision process is Evaluate Decision Effectiveness.

Symbolic view of management- the view that much of an organization’s success or failure is
due to external forces outside managers’ control.
Internal constraints that influence managers’ decisions come from the culture of the
organization.

Understand changing economic conditions in a firm’s external environment (ex: Nestle’ and
rising commodity costs).

Understand demographics.

Generation Y refers to those born in 1978-1994.

Omnipotent view of management- the view that managers are directly responsible for the
success or failure of an organization.

Omnipotent view versus symbolic view- Omnipotent believes success and failure rest on the
manager. Symbolic view believes success or failure rest on external circumstances out of the
control of the manager.

American business students may be at a disadvantage because many universities no longer

require foreign language credits.

Advantages of operating globally include higher profits.

Workforce diversity- the ways in which people in an organization are different from and similar
to one another.

Surface-level diversity- easily perceived differences that may trigger certain stereotypes, but
that do not necessarily reflect the ways people think or feel.

Deep-level diversity- differences in values, personality, and work preferences

Social obligation- when a firm engages in social actions because of its obligation to meet
certain economic and legal responsibilities.

Socioeconomic view of management- the view that management’s social responsibility goes
beyond making profits to include protecting and improving society’s welfare.

Classical view of social responsibility- the view that management’s only social responsibility is
to maximize profits.

Dominant view of management theory-