Man Fin 1

The process of identifying opportunities

This is the result of reaching a conclusion about an issue.

When a manager makes a decision under these circumstances, he or she knows exactly what choices are available and what the results of each choice will be.

This type of model or theory captures the world as it happens; it identifies how things actually work.

This behavioral characteristic suggests that people will often settle for the first acceptable solution to a problem rather than investigating all possible solutions.

This situation generates the need to make a decision because of the possibility of doing things better and a desire to outperform current objectives.

This technique for group decision making involves splitting a group into two parts. Each part takes an opposing position and presents it to the other side. The resulting discussion should create a better decision.

decision is appropriate for unusual circumstances.

Models of Decision making: Classical, administrative, political: Clear cut problem and goals condition of certainty Full information Rational choice by individual for maximizing outcomes

Models of Decision making: Classical, administrative, political: Pluralistic, conflicting goals condition of certainty and ambiguity Ambitious Info Bargaining and discussion among coalition members

Models of Decision making: Classical, administrative, political: Vague problems and goals condition of uncertainty limited info Satisficing choice for resolving problem using intuition

the political decision making model is

decision making process (1-6)

This type of authority comes from formal reporting relationships. It is typically held by managers who supervise departments directly related to an organization's primary goal and mission.

This refers to the process of pushing power and authority down to lower levels of the company.

Designed to improve communication across specialty lines, this structure can be based on products, customers, or geography. For example, the IRS has separate departments for individual and small-business taxpayers.

A temporary team or committee formed to solve a specific short-term problem involving several departments." An example would be bringing together people from engineering, sales, and marketing to create a new product. The team disbands after the product is created.

This production process is used when companies manufacture large amounts of standardized products.

organizational chart

vertical lines in stupid charts mean what

says that authority must flow in an unbroken line throughout the organization. The staplers department does not have a direct reporting relationship to any manager in the organization.

The human resources and sales departments are organized by function, but the southern region is organized by division, based on geography can create confusion in the organization.

Because the engineering and finance departments report to both the office supplies VP and the northern region VP, employees in these two departments will have two managers. _____ says that each employee should have only one manager.

One of the disadvantages of work specialization is:

Employees in ________ organizations are highly specialized and, as a result, highly efficient. However, this efficiency comes at a cost. When jobs are divided by specialty, horizontal communication is decreased, and decision making can take longer.

best reason to switch to matrix structure for an organization

big problem CEO may face moving towards matrix structure

As an organization becomes more mechanistic, its communication flow becomes more (vertical or horizontal)