Z94.10 Management

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ECONOMETRIC MODELS. Explanatory models based on systems of simultaneous multiple regression equations involving several predictor variables that are used to identify and measure relationships or interrelationships that exist in the economy.

ECONOMIC ELEMENT. The part of the mega-environment that encompasses the systems of producing, distributing, and consuming wealth.

ECONOMIC ORDER QUANTITY (EOQ). An inventory control method developed to minimize order holding costs, while avoiding stockout costs.

EFFECTIVENESS. A dimension of organizational performance involving the ability to choose and achieve appropriate goals.

EFFICIENCY. A dimension of organizational performance involving the ability to make the best use of available resources in the process of achieving goals.

EFFORT-PERFORMANCE EXPECTANCY. A component of expectancy theory that concerns our assessment of the probability that our efforts will lead to the required performance level.

ELECTRONIC DATA PROCESSING (EDP). The transformation of data into meaningful information through electronic means.

ELECTRONIC MAIL SYSTEM. The mail system that allows high-speed exchange of written messages through the use of computerized text-processing and communications networks.

ELECTRONIC MONITORING. An issue in job-related stress and health that involves the use of computers to continually assess employee performance.

EMPLOYEE ASSISTANCE PROGRAM (EAP). A program through which employers help employees overcome personal problems that are adversely affecting their job performance.

EMPLOYEE-CENTERED. A leadership approach in which managers channel their main attention to the human aspects of subordinates’ problems and to the development of an effective work group dedicated to high performance goals.

EMPLOYEE INVOLVEMENT TEAMS. Small groups of employees who work on solving specific problems related to quality and productivity, often with stated targets for improvement.

EMPLOYMENT AT WILL. The legal principle that holds that either employee or employer can terminate employment at any time for any reason.

EMPLOYMENT TEST. A selection method involving the assessment of a job applicant’s characteristics through paper-and-pencil responses or simulated exercises.

ENCODING. The process, in communication, of translating the intended meaning into symbols.

END USER. The same as a user.

END-USER COMPUTING. The development and/or management of information systems by users.

ENLIGHTENED SELF-INTEREST ARGUMENT. An argument that holds that businesses exist at society’s pleasure and that, for their own legitimacy and survival, businesses should meet the expectations of the public regarding social responsibility.

ENTREPRENEUR. An individual who creates a new enterprise.

ENTREPRENEURIAL MODE. An approach to strategic management in which strategy is formulated mainly by a strong visionary chief executive who actively searches for new opportunities, is heavily oriented toward growth, and is willing to make bold decisions or to shift strategic rapidly.

ENTREPRENEURIAL TEAM. A special type of project team comprising a group of individuals with diverse expertise and backgrounds who are brought together to develop and implement innovative ideas aimed at creating new products or services or significantly improving existing ones.

ENTREPRENEURSHIP. The “creation of new enterprise”.

ENTERPRISE INTEGRATION. A concept that encompasses the entire scope of a business, characterized by: (1) optimization across the total organization based on common goals; (2) balancing the needs, capabilities, and relationships of people, processes, and tools; (3) shared data, processes, and tools to perform processes; (4) universal availability and access of data, processes, and tools; and (5) storage and retrieval of data, rather than transfer of data.

ENVIRONMENTAL COMPLEXITY. A factor affecting the level of environmental uncertainty that involves the number of elements in an organization’s environment and their degree of similarity.

ENVIRONMENTAL DYNAMISM. A factor affecting the level of environmental uncertainty that involves the rate and predictability of change in the elements of an organization’s environment.

ENVIRONMENTAL MUNIFICENCE. The extent to which the environment can support sustained growth and stability.

ENVIRONMENTAL UNCERTAINTY. A condition of the environment in which future conditions affecting an organization cannot be accurately assessed and predicted.

EQUITY CAPITAL. A type of financing available to entrepreneurs that usually requires that the investor be given some form of ownership in the venture.

EQUITY THEORY. A cognitive theory of work motivation which argues that we prefer situations of balance, or equity, which exist when we perceive the ratio of our inputs and outcomes to be equal to the ratio of inputs and outcomes for a comparison other.

ERG THEORY. An alternative (proposed by Clayton Alderfer) to Maslow’s hierarchy of needs theory which argues that there are three levels of individual needs.

ESCALATION SITUATIONS. Situations that signal the strong possibility of escalating commitment and accelerating losses.

ESTEEM NEEDS. The needs in Maslow’s hierarchy related to a two-pronged desire to have a positive self-image and to have our contributions valued and appreciated by others.

ETHICS. A set of standards and code of conduct that define what is right, wrong, and just in human actions.

ETHNOCENTRIC ORIENTATION. An approach to international management (also known as home-country orientation) in which executives assume that practices that work in the headquarters or home country must necessarily work elsewhere.

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

EXCHANGE RATE. An international economic element that is the rate at which one country’s currency can be exchanged for another country’s currency.

EXECUTIVE SUPPORT SYSTEM (ESS). A computer-based information system that supports decision making and effective functioning at the top levels of an organization.

EXISTENCE NEEDS. The needs in ERG theory that include the various forms of material and physiological desires, such as food and water, as well as such work-related forms as pay, fringe benefits, and physical working conditions.

EXPATRIATES. Individuals who are not citizens of the countries in which they are assigned to work.

EXPECTANCY THEORY. A cognitive theory of workmotivation (originally proposed by Victor H. Vroom) which argues that we consider three main issues before we expend the effort necessary to perform at a given level.       

EXPECTED VALUE. The sum of payoffs times; the respective probabilities for a given alternative.

EXPENSE BUDGET. An operating budget that documents expected expenses during the budget period.

EXPERT POWER. Power that is based on the possession of unique knowledge that is valued by others.

EXPERT SYSTEM (ES). A computer-based system that applies the substantial knowledge of an expert to help solve problems in a specific area.

EXPLANATORY, OR CAUSAL MODELS. Methods of quantitative forecasting that attempt to identify the major variables that are related to or have caused particular past conditions and then use current measures of those variables (predictors) to predict future conditions.

EXPORTING. A means of entering international markets that involves an organization’s making a product in the home country and sending it overseas.

EXPROPRIATION. The seizure of a foreign company’s assets by a host-country government.

EXTERNAL AUDIT. A financial audit involving the review and verification of the fairness of an organization’s financial statements that is conducted by an independent auditor.

EXTERNAL ENVIRONMENT. The major forces outside the organization that have the potential of significantly impacting on the likely success of products or services.

EXTINCTION. A type of reinforcement in behavior modification that involves withholding previously available positive consequences associated with a behavior in order to decrease that behavior.

EXTRINSIC REWARDS. Rewards, such as bonuses, awards, or promotions, that are provided by others.

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