MGMT 301 FINAL EXAM

Human Resource Management
Activities that managers engage in to attract and retain employees and to ensure that they perform at a high level and contribute to the accomplishment of organizational goals.
HRM Activites
Recruitment, Training, Feedback, Pay, Labor Relations
Strategic Human Resource Managment
The process by which managers design the components of a HRM system to be consistent with each other, with other elements or organizational architecture, and with organization’s strategy and goals.
Human Resource Planning
Activities that managers engage in to forecast their current and future needs for human resource.
Outsourcing
Using outside suppliers and manufactures to produce goods and services using contract workers rather than hiring them.
Job Analysis
Identifying the tasks, duties and responsibilities that make up a job and the knowledge, skills and abilities needed to perform the job. Should be done for each job in the organization.
Selection Tools
Background Info, References, Paper-and Pencil Test, Physical Test, Performance Test, Interviews
Reliability
The degree to which the tool measures the same thing each time it is used.
Validity
The degree to which the test measures what it is supposed to measure.
Needs Assessment
An assessment of which employees need training and development and what type of skills or knowledge they need to acquire.
Formal Education
Tuition reinburstment is common for managers taking classes for MBA or job-related degrees.
Formal Appraisal
An appraisal conducted at a set time during the year and based on performance dimensions that were specified in advance
Informal Appraisal
An unscheduled appraisal of ongoing progress and areas for improvement
Objective Appraisals
Assesses performance based on facts (Sale Figures)
Subjective Appraisals
Assessments based on a manager’s perceptions of traits, behaviors, or results.
Pay Level
The relative position of an organization’s incentives in comparison with those of other firms in the same industry employing similar kinds of workers
Pay Structure
The arrangement of jobs into categories based on their relative importance to the organization and its goals, level of skills, and other characteristics.
Labor Relations
The activities managers engage in to ensure they have effective working relationships with labor unions that represent their employees interests.
Unions
Represent worker’s interests to management in organizations.
Collective Bargaining
Negotiation between labor and management to resolve conflicts and disputes about issues such as working hours, wages, benefits, working conditions and job security.
Data
Raw, unsummarized, and unanalyzed facts.
Information
Data that is organized in a meaningful fashion
Quality
The accuracy and reliability of available information affects the quality of decisions that managers make using the information.
Timelessness
The availability of real-time information that reflects current conditions allows managers to maximize the effectiveness of their decisions.
Completeness
Complete information allows managers to consider all relevant factors when making decisions.
Relevance
Having information specific to a situation assits managers in making better decisions.
Management Information Systems
An information system that managers plan and design to provide themselves with the specific information they need
Information Technology
The means by which information is acquired, organized, stores, manipulated and transmitted.
Communication
The sharing of information between two or more individuals or groups to reach a common understanding.
Transmission Phase
Information is shared by two or more people
Feedback Phase
A common understanding is assured
Information Richness
The amount of information that a communication medium can carry and the extent to which the medium enables the sender and receiver to reach a common understanding
Face- to- Face
Highest Information Richness
Networking
The exchange of information through a group or network of interlinked computers
Information Distortion
Changes in meaning that occur as information passes through a series of senders and recievers
Transaction Processing Systems (TPS)
Systems designed to handle larger volumes of routine transactions
Operations Information Systems (OIS)
Systems that gather, organize, and summarize comprehensive data in a form of value to managers
Decision Support Systems (DSS)
An interactive computer-based management information system with model-building capability that managers can use when they must make non-routine decisions.
Expert Systems and Artificial Intelligance
Employ human knowledge captured in a computer to solve problems that ordinarily require human expertise.
Operation Management
The management of any aspect of the production system that transforms inputs into finished goods and services.
Production Systems
The system that an organization uses to acquire inputs, convert inputs into outputs, and dispose of the outputs.
Quality
Goods and services that are reliable, dependable, or psychologically satisfying
Efficiency
Amount of inputs required to produce a given output
Responsiveness to Coustomers
Action taken to meet the demands and needs of costumers
Production System
Input Stage-Conversion Stage-Output Stage
Customer Relationship Management (CRM)
Technique that uses IT to develop an ongoing relationship with customers to maximize the value an organization can deliver to them over time.
Improving Efficiency
The fewer the inputs required to produce a given output, the higher the efficiency of a production system.
Total Factor Productivity=
Outputs / All Inputs
Labor Productivity=
Outputs / Direct Labor
Facilites Layouts
The operation management technique whose goal is to design the machine-worker interface to increase productivity in the system
Flexible Manufacturing
Operations management techniques that attempt to reduce the setup costs associated with a productive system
Product Layout
Machines are organized so that each operation is performed at work stations arranged in a fixed sequence

Mass Production Systems, using a belt

Process Layout
Self contained work stations not organized in a fixed sequence

Able to coustomize

Fixed-Position Layout
The product stays in a fixed spot and components produced at remote stations are brought the product for final assembly

Large Jet Aircrafts are assemble this way.

Flexible Manufacturing
Flexible Manufacturing reduces setup cost by reducing time required to rest the production line for a different product.
Just-in- Time Inventory
System in which parts arrive at an organization when they are needed, not before.
Self-Managed Work Teams
Self-managed work teams boost efficiency by allowing for a flatter organization structure
Process Reengineering
The fundamental rethinking of radical redesign of the business process to achieve dramatic improvement in critical measures of performance such as cost, quality , service and speed.