Management and Organizational Behavior Flashcards

What is the difference between 'efficiency' and 'effectiveness' in management?

Answer: Efficiency is doing things right; effectiveness is doing the right things

Peter Drucker distinguished efficiency (doing things right — minimizing resources) from effectiveness (doing the right things — achieving goals).

What is 'organizational culture'?

Answer: The shared values, beliefs, and behaviors that shape how work is done

Organizational culture represents the collective values, norms, and behaviors that define how things are done in a company.

Which management function involves monitoring performance and taking corrective action?

Answer: Controlling

Controlling involves comparing actual performance to standards and taking corrective action when necessary.

What is 'change management' in an organizational context?

Answer: A structured approach to transitioning individuals and organizations from a current state to a desired future state

Change management provides a systematic process for helping organizations and individuals navigate transitions and transformations.

What is 'Total Quality Management' (TQM)?

Answer: An approach focused on long-term success through customer satisfaction and continuous improvement

TQM is a management philosophy involving all employees in continuous process improvement to achieve long-term customer satisfaction.

What does 'core competency' mean in strategic management?

Answer: A unique capability or advantage that a company does better than competitors and is hard to replicate

Core competencies, a concept by Prahalad and Hamel, are unique strengths embedded in a company that create competitive advantage.