MGT 305 1st EditionFinal Exam Study GuideChapter 8 – Foundations of Planning (3 questions)- What are the types of goals an organization can have? How are they different? Financial Goals: related to the company’s financial performanceStrategic Goals: related to all other areas of an organization’s performanceStated Goals: official statements of what an organization says, and what it wants its various stakeholders to believe, its goals are Real Goals: goals that an organization actually pursues, as defined by the actions of its membersStrategic Plans: plans that apply to the entire organization and establish the organization’s overall goalsOperational Plans: plans that encompass a particular operational area of organizationLong-term Plans: more than 3 yearsShort-term Plans: one year or lessSpecific Plans: plans that are clearly defined and leave no room for interpretationDirectional Plans: plans that are flexible and set out general guidelinesChapter 10 – Managerial Controls (3 questions)- What is the difference between subjective and objective performance measures?Objective performance measures will be based on actual performance of the employee and will be backed up by data and observable results. Productivity, the amount of goods or services produced by the inputs needed to generate that output, and organizational effectiveness, a measure of how appropriate organizational goals are and how well those goals are being met playan important part in objective performance measures like disciplinary actions, effective feedback,feedforward and concurrent control. On the other hand, subjective performance measures will be based on opinions, thoughts and interpretations and may not be the most suited to perform any given decision in the workplace.Chapter 5 – Social Responsibility & Ethics (3 questions)- What are the 3 stages of moral development?Pre-Conventional Morality: when one judges an action by its direct consequencesConventional Morality: when one judges an action by society’s views and expectationsPost-Conventional Morality: when one’s morality is guided by principles of right and wrong, independent of societal expectationsChapter 3 – Managing in a Global Environment (3 questions)- What are the 5 dimensions in Hofstede’s framework of national culture?1) Individualistic: people who look after their own and family interestsCollectivistic: people who expect the group to look after and protect them2) High power distance: accepts wide differences in power; great deal of respect for those in authorityLow power distance: plays down inequalities; employees are not afraid to approach nor are in awe of the boss3) High uncertainty avoidance: threatened with ambiguity and experience high levels of anxietyLow uncertainty avoidance: comfortable with risks; tolerant of different behaviors and opinions4) Achievement: values such as assertiveness, acquiring money and goods, and competitionprevailNurturing: values such as relationships and concern for others prevail5) Long-term orientation: people look to the future and value thrift and persistenceShort-term orientation: people who value tradition and the pastChapter 2 – Constrains & Challenges (3 questions)- What are the 4 manifestations of culture?Stories: organizational “stories” typically contain a narrative of significant events or people, including such things as the organization’s founders, rule breaking and reactions to past mistakes.Exemplify what’s important to the company and provide pictures of the organization’s goalsRituals: corporate rituals are repetitive sequences of activities that express and reinforce the important values and goals of the organization.Material Artifacts and Symbols: The layout of an organization’s facilities, how employees dress, the types of automobiles provided to top executives are examples of material symbols. Others are size of offices, elegance of furnishing and benefits provided to employeesLanguage: organizations use language as a way to identify and unite members of a culture. Overtime, organizations often develop unique terms to describe equipment, key personnel, suppliers, customers and productsChapter 9 – Strategic Management (4 questions)- What are the sub-components of the different types of Company Strategies?Corporate Strategy: an organizational strategy that determines what businesses a company is inor wants to be in, and what it wants to do with those businesses: grow them, keep them the same or renew them.Growth Strategy: a corporate strategy that’s used when an organization wants to expand the number of markets served or products offered, either through its current business or through new businesses.Stability Strategy: a corporate strategy in which an organization continues to do what it is currently doing Renewal Strategy: a corporate strategy designed to address declining performanceCompetitive Strategy: an organizational strategy for how the company will compete in its businesses Functional Strategy: the strategies used by an organization’s various functional departments to support the competitive strategyChapter 7 – Change & Innovation (7 questions)- What are the 8 Steps of Kotter’s Change Model?1) Establish urgency2) Forming a coalition3) Vision and Strategy4) Common Vision5) Empowered Action6) Short term wins7) Move Momentum8) Anchoring Change- What are the common reasons why people are resistant to change?UncertaintyHabitConcern over lossBelief it’s not the organization’s best interestTolerance for change- What are the definitions for the 3 common causes of stress (e.g., Role Conflict) that employee’s experience?Role Conflicts: work expectations that are hard to satisfyRole Overload: having more work to accomplish than time permitsRole Ambiguity: when role expectations are not clearly understoodChapter 11 & 12 – Basic & Adaptive Organizational Design (2 questions)- What are the 6 elements of organizational design (e.g., span of control)?Chain of CommandDepartmentalizationFormalizationSpan of ControlSpecializationDivision of LaborChapter 13 – Managing Human Resources (6 questions)- What are the major laws & legal considerations for HR managers?Equal Employment Opportunity and DiscriminationEqual Pay Act (1963): prohibits pay differences for equal work based on genderCivil Rights Act, Title VII (1964): prohibits discrimination based on race, color, religion, national origin or genderAge Discrimination in Employment Act (1967):