WGU - Fundamentals for Success in Business - D072

WGU - Fundamentals for Success in Business - D072 5.0 (1 review) Students also studied Terms in this set (132) Western Governors UniversityD 072 Save D072 Fundamentals for Success in B...134 terms Tbarnett20Preview

WGU D072 FUNDAMENTALS FOR S...

160 terms briarhermous47 Preview D072 Fundamentals for Success in B...70 terms Browder30Preview Test Pre 105 term C_B Practice questions for this set Learn1 / 7Study using Learn based on knowledge and special skill or experience such as doctors or lawyers Personal Ethicsrefers to the ethics a person identifies with, which guides how they interact with others daily.Organizational ethicsfocuses on rules, principles and standards in respect to the business' activities Choose an answer 1Legitimate power2Referent power 3Expert power4Reward power Don't know?

Identify how ethics impact outcomes in organizations · Organizations tainted by questionable ethics suffer by a decline in their consumer base, increase employee turnover, and mistrust from their investor's.· Setting an unrealistic goal can lead to the compromise of ethics and standards.Example of personal ethicsSpeaking the truth, respecting elders, and never purposely hurt others.Example of professional ethics.Being punctual, refraining from gossip, and having good time management Provide an example of when personal and professional ethics may conflict Under the 'Code of Conduct,' police officers are obligated to enforce and uphold the law even if they don't agree with it.What are the 4 main ethical issues and their roles within organizations Societal, Stakeholder Issues, Internal Issues, Personal Issues Societal IssuesRelates to society and getting involve in societal issues out of care and concern.Stakeholder IssuesAnyone affected by the company's actions (consumers, employees, suppliers, and people within the community).Internal issuesRelates to relationship between organization and its employees (fairness in management, pay, and employee participation).Personal IssuesDeals with how employees treat each other (gossiping, taking credit for someone else's work).What are some benefits to an organization that practices high ethics?benefit from the trust of their stakeholders and has a competitive advantage in the marketplace.Define Corporate Social Responsibility (CSR).when an organization voluntarily engages in issues that are affecting the environment, community or society at large.What is the importance of CSR in the organization and in the community?· It's beneficial to both the organization and its stakeholders. It creates long-term profits and shareholder's trust for the organization.· Attract consumers who share the same values.· Increases organization's brand image (awareness) /creates a better image · Creates an advantage over competitors.CSR is important in the community because· Organization is gives back to the community (food bank/ school supplies giveaways, charities/donations, scholarships).· Ability to influence organization's economic practices.Company in accordance with their commitment example: Company ABC, states that they are becoming more eco-friendly. They show their commitments by manufacturing in a sustainable way, using renewable products, encouraging employees to recycle, partnering with like-minded people within the community.Company in discord with their commitment example: Company DEF, states that they are becoming more eco-friendly, but their actions are contrary. They don't manufacture in a sustainable fashion, don't practice recycling. All the company's actions are detrimental to the environment.

GreenwashingCompany's actions goes against their ethical commitments.Internal transparencythe ability of everyone in an organization to exist within a system of openness, communication, and accountability Whistleblowingwhen someone tells the public or authorities of alleged misconduct in government department, private company or organization Sarbanes-Oxley Act (SOXaims at improving transparency in organizations by requiring clear reporting practices.Process Management/Business Process management (BPM) refers to management's initiative to design work processes so that they align with the organization's strategic goals Managementinvolves directing a team of employees to work toward achieving a goal.Top managementPresidents, CEOs, Executives, and vice president.Middle management-Plant managers, division managers, branch managers, general managers, department managers.First/Front-Line managersForemen, Supervisors, office managers Interpersonal rolefocuses on relationship building and communication internally within the company and externally with clients and other stakeholders Informational rolespending time to gather, analyze, and sharing information related to the business to those above and below, in order to prioritize, and implement strategies.Decisional role1. responsible for making decisions, allocating resources, and negotiating.What are the 3 core roles or management?Interpersonal, Informational, Decisional What are the 3 major skills managers should have to manage effectively and accomplish goals?Technical, Communication, Analysis Technical skillsunderstanding everyday challenges, proposing solutions, representing the team, redesigning procedures, having a firm grasp of the tools and procedures, and techniques imperative to the department.Communication skillsable to listen and understand employee's issues, motivational factors, and their team's group dynamics, and establishing cordial working relationship with people.Analysis skillsable to understand, visualize, and analyze abstract knowledge and concepts; change direction; and improve organizational performance.Explain the Competing Values Framework (CVF) framework use for evaluating the effectiveness of the culture and dynamics of an organization

ClanIt tends to be more family oriented and flexible, and less structured, and has a more extensive hierarchy (e.g., small start-up business).Agreeableness HierarchyIt tends to be internally focused on internal processes and procedures and less flexible (e.g., government agencies).conscientiousness MarketIt tends to be externally focused on competition and profits and less flexible (e.g., security companies).extraversion AdhocracyIt tends to be more flexible and responsive to external forces and is characterized as a dynamic, entrepreneurial, and creative workplace (e.g., technology businesses).openness Cultural diversitythe variety of different ethnic groups within a workplace Hofstede Modelnational culture outlines different cultural dimensions of organizational culture Individualism v CollectivismPlacing high value on individual achievement and self-interest versus placing high value on working together as a group or team in harmony to achieve goals Power DistanceThe degree to which members of society accept that power inequality is good and acceptable.Uncertainty AvoidanceThe different attitude towards risk-taking.MasculinityThe style of decision making, whether it is hard edge, aggressive and facts only versus consultation and intuitive analysis.Long-term OrientationHow far ahead planning goes for business plans, objectives and performance.Indulgence v RestraintSociety allows relatively free gratification to having fun and enjoying life versus a society that suppresses gratification and regulates it with strict social norms.Organizational culturesystem of shared assumptions, values, and beliefs of how employees behave within the organizations mechanistic organizationorganizational structures utilize traditional top-down hierarchy and rigid departmentalization and are best suited to stable environments that contain low uncertainty, such as government agencies