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Z94.10 Management

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MACHINE BUREAUCRACY. The structural configuration in Mintzberg’s typology characterized by functional departmentalization, a strong group of technical specialists, high formalization, and emphasis on standardization of work.

MANAGEMENT. The process of achieving organizational goals through engaging in the four major functions of planning, organizing, leading, and controlling.

MANAGEMENT BY EXCEPTION. A control principle associated with comparing performance against standards which suggests that managers should be informed of a situation only if control data show a significant deviation from standards.

MANAGEMENT BY OBJECTIVES (MBO). A process through which specific goals are set collaboratively for the organization as a whole and every unit and individual within it, the goals are then used as a basis for planning, managing organizational activities, and assessing and rewarding contributions.

MANAGEMENT BY WANDERING AROUND (MBWA). A practice whereby managers frequently tour areas for which they are responsible, talk to various employees, and encourage upward communication.

MANAGEMENT INFORMATION SYSTEM (MIS). A computer-based information system that produces routine reports and often allows on-line access to current and historical information needed by managers mainly at the middle and first-line levels; the name also given to the field of management that focuses on designing and implementing computer-based information systems for use by management.

MANAGEMENT OF TECHNOLOGY (MOT). The linking of engineering, science, and management disciplines to plan, develop, and implement technological capabilities to shape and accomplish the strategic and operational objectives of an organization.

MANAGEMENT SCIENCE. An approach within the quantitative management viewpoint that is aimed at increasing decision effectiveness through the use of sophisticated mathematical models and statistical methods.

MANAGERIAL ETHICS. Standards of conduct and moral judgment used by managers of organizations in carrying out their business.

MANAGERIAL INTEGRATOR. A separate manager who is given the task of coordinating related work that involves several functional departments and who facilitates lateral relations.

MANUFACTURING RESOURCE PLANNING (MRP II). A computer-based information system that integrates the production planning and control activities of basic MRP systems with related financial, accounting, personnel, engineering, and marketing information.

MARKET CONTROL. A managerial approach that relies on market mechanisms to regulate prices for certain clearly specified goods and services needed by an organization.

MASCULINITY-FEMININITY. A cultural dimension in Geert Hofstede’s framework for analyzing societies that involves the extent to which a society emphasizes traditional male values such as assertiveness, competitiveness, and material success rather than traditional female values such as passivity, cooperation, and feelings.

MASTER PRODUCTION SCHEDULE (MPS). A schedule that translates the aggregate plan into a formalized production plan encompassing specific products to be produced or services to be offered and specific capacity requirements over a designated time period.

MATERIALS REQUIREMENTS PLANNING (MRP). A primary operating system used in operations management which consists of a computer-based inventory system that develops materials requirements for the goods and services specified in the master schedule and initiates the procurement actions necessary to acquire the materials when needed.

MATRIX STRUCTURE. A type of departmentalization that superimposes a horizontal set of divisional reporting relationships onto a hierarchical functional structure.

MECHANISTIC CHARACTERISTICS. The likely characteristics of firms operating in a stable environment, such as high centralization of decision making, many rules and regulations, and mainly vertical communication channels.

MEDIUM. The method used in the communication process to convey the message to the intended receiver.

MEGA-ENVIRONMENT. The segment of the external environment that reflects the broad conditions and trends in the societies within which an organization operates.

MENTOR. An individual who contributes significantly to the career development of a junior colleague or a peer.

MERGER. The combining of two or more companies into one organization and thus a means of implementing growth strategies.

MESSAGE. The encoding-process outcome, which consists of verbal and nonverbal symbols that have been developed to convey meaning to the receiver.

MIDDLE MANAGERS. Managers beneath the top levels of the hierarchy who are directly responsible for the work of other managers below them.

MISSION. The organization’s purpose or fundamental reason for existence.

MISSION STATEMENT. A broad declaration of the basic, unique purpose and scope of operations that distinguishes the organization from others of its type.

MODE. An indication of the beginning and/or ending of activities in a PERT network.

MODELING. A component of social learning theory that involves observing and attempting to imitate the behaviors of others.

MONITORING METHODS. Methods of quantitative forecasting that provide early warning signals of significant changes in established patterns and relationships so that managers can assess a possible impact and plan responses if necessary.

MORAL MANAGEMENT. An approach to managerial ethics that strives to follow ethical principles and precepts.

MORPHOLOGICAL ANALYSIS. A method of technological or qualitative forecasting that focuses on predicting potential technological breakthroughs by breaking the possibilities into component attributes and evaluating various attribute combinations.

MOTIVATION. The force that energizes behavior, gives direction to behavior, and underlies the tendency to persist.

MOTIVATORS. A type of factor that figures in the two-factor theory of motivation that relates mainly to the content of the job (such as the work itself and feelings of achievement) and that can influence the degree of worker satisfaction.

MULTIFOCAL STRATEGY. A strategy aimed at achieving the advantages of worldwide integration whenever possible, while still attempting to be responsive to important national needs.

MULTINATIONAL CORPORATION (MNC). An organization that engages in production or service activities through its own affiliates in several countries, maintains control over the policies of those affiliates, and manages from a global perspective.

MULTIPLE CONTROL SYSTEMS. Systems that use two or more of the feed-forward, concurrent, and feedback control processes and involve several strategic control points.

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