IBMGT Semester 1
ZHAW International Management, IBMGT Semester 1 HS 17/18
ZHAW International Management, IBMGT Semester 1 HS 17/18
Set of flashcards Details
| Flashcards | 101 |
|---|---|
| Language | English |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 13.01.2018 / 23.12.2019 |
| Licencing | Not defined |
| Weblink |
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Name the biases when it comes to decision making
- Prior hypothesis (select information which supports previous beliefs)
- Overconfidence
- Representativeness
- Optimism
- Illusion of control
- Escalating commitment
- Emotional attachment
Describe how a Functional Organization works and what the advantages/disadvantages are
Common professional skills e.g. production, finance, marketing, IT
Advantages:
-simple and comprehensive structure
-departments are well defined and easily controllable
Disadvantages:
-many interfaces between departments create a lot of problems with coordination
-risk of department egoism
-risk of overspecialization
Describe how a Divisional Organization works and what the advantages/disadvantages are
Grouped into products, customers groups or geography
Each division has its own production, marketing, finance etc.
Advantages:
-staff focus on product and customer needs
-dedicated facilities meet customer needs quickly (flexibility)
-divisions are highly motivated and can easily be evaluated
Disadvantages:
-divisions are isolated from wider professional and technical development of the whole company
-more line manager positions and central services necessary
-divisions can become too independent
Describe how a Matrix Organization works and what the advantages/disadvantages are
Grouped into functional groups where subordinates have 2 bosses
Advantages:
-integrated knowledge
-flexible structure according to customer needs
-staff gain variety of work experience
Disadvantage:
-length of time to make decisions because of bargaining between the manager of different dimensions
-unclear job and task responsibilities
-unclear cost and profit responsibilities
Describe how a Network Organization works and what the advantages/disadvantages are
Organizations as broker between independent units
Companies remain independent but agree to collaborate with each other (general contractors)
Advantages:
-broad access to contacts
-specialized knowledge
-cost efficiency (less staff needed)
Disadvantages:
-decentralized knowledge
-division of responsibilities
-strong leadership and coordination required
Describe how a Team Organization works and what the advantages/disadvantages are
Organization as a broker between independent units
Management delegates significant responsibility and authority to an identifiable team which is then accountable for results
Advantages:
-decision making process is filtered down to each member of the team
-multiple competencies in the teams
-solving of complex issues
Disadvantages:
-value team performance over individual performance
-decentralized -> can lead to coordination and control issues
-team often of temporary nature
Definition of an SME
- No universally accepted definition
- Switzerland & EU: less than 250 employees
Definition of an International Enterprise
- import and export their products and services
- don't invest outside of home country
