Z94.10 Management

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LA PROSPECTIVE. A method of technological or qualitative forecasting that addresses a variety of possible futures by evaluating major environmental variables, assessing the likely strategies of other significant actors, devising possible counter strategies, developing ranked hypotheses about the variables, and formulating alternative scenarios that do not greatly inhibit freedom of choice.

LABOR-MANAGEMENT RELATIONS. The process through which employers and unions negotiate pay, hours of work, and other conditions of employment; sign a contract governing such conditions for a specific period of time; and share responsibilities for administering the resulting contact.

LABOR SUPPLY. The element of the task environment that consists of those individuals who are potentially employable by an organization.

LAISSEZ-FAIRE. Behavioral style of leaders who generally give the group complete freedom, provide necessary materials, participate only to answer questions, and avoid giving feedback.

LARGE-BATCH AND MASS PRODUCTION. A type of technology in which products are manufactured in large quantities, frequently on an assembly line.

LATERAL RELATIONS. An approach to horizontal coordination that involves coordinating efforts through communicating and problem solving with peers in other departments or units, rather than referring most issues up the hierarchy for resolution.

LAW OF EFFECT. A concept on which reinforcement theory relies heavily, which states that behaviors having pleas-ant or positive consequences are more likely to be repeated and that behaviors having  unpleasant or  negative consequences are less likely to be repeated.

LEADERSHIP. The process of influencing others toward the achievement of organizational goals.

LEADING. The management function that involves influencing others to engage in the work behaviors necessary to each organizational goals.

LEADING INDICATORS. Explanatory models based on variables that tend to be correlated with the phenomenon of major interest but also tend to occur in advance of that phenomenon.

LEGAL-POLITICAL ELEMENT. The part of the mega-environment that includes the legal and governmental systems within which an organization must function.

LEGITIMATE POWER. Power that stems from a position’s placement in the managerial hierarchy and the authority vested in the position.

LESS DEVELOPED COUNTRIES (LDCS). A group of countries, often called the “third world”, that consists primarily of relatively poor nations characterized by low per capita income, little industry, and high birthrates.

LIAISON ROLE. A role to which a specific individual is appointed to facilitate communication and resolution of issues between two or more departments, thereby facilitating lateral relations.

LICENSING. An agreement in which one organization gives limited rights to another to use certain of its assets, such as expertise, patents, copyrights, or equipment, for an agreed-upon fee or royalty.

LIFE CYCLES. Predictable stages of development.

LINE AUTHORITY. The authority that follows the chain of command established by the formal hierarchy.

LINE POSITION. A position that has authority and responsibility for achieving the major goals of the organization.

LINEAR PROGRAMMING (LP). In Applied Mathematics, a quantitative tool for planning how to allocate limited or scarce resources so that a single criterion or goal (often profits) is optimized.

LINKING PIN. An individual who provides a means of coordination between command groups at two different levels by fulfilling a supervisory role in the lower-level command group and a subordinate role in the higher-level command group.

LIQUIDATION. A defensive strategy that entails selling or dissolving an entire organization.

LIQUIDITY RATIOS. Financial ratios that measure the degree to which an organization’s current assets are adequate to pay current liabilities (current debt obligations).

LOCAL AREA NETWORKS (LANS). Interconnections (usually by cable) through which end-user computing can be managed that allow communications among computers in a single building or within close proximity.

LOGICAL OFFICE. The concept that portable microcomputers allow an individual’s office to be anywhere the individual is, rather than being restricted to one specific location.

LPC ORIENTATION. A personality trait in Fiedler’s contingency model that is measured by the least preferred coworker (LPC) scale.

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