Macroenvironment - The general environment; includes governments, economic conditions, and other fundamental factors that generally affect all organizations.
Make-Or-Buy Decision - The question an organization asks itself about whether to acquire new technology from an outside source or develop it itself.
Management - The process of working with people and resources to accomplish organizational goals.
Management Audit - An evaluation of the effectiveness and efficiency of various systems within an organization.
Management By Objectives (MBO) - A process in which objectives set by a subordinate and a supervisor must be reached within a given time period.
Management Myopia - Focusing on shortterm earnings and profits at the expense of longer-term strategic obligations.
Management Teams - Teams that coordinate and provide direction to the subunits under their jurisdiction and integrate work among subunits.
Managing Diversity - Managing a culturally diverse workforce by recognizing the characteristics common to specific groups of employees while dealing with such employees as individuals and supporting, nurturing, and utilizing their differences to the organization’s advantage.
Market Control - Control based on the use of pricing mechanisms and economic information to regulate activities within organizations.
Maslow’s Need Hierarchy - A conception of human needs organizing needs into a hierarchy of five major types.
Mass Customization - The production of varied, individually customized products at the low cost of standardized, mass-produced products.
Matrix Organization - An organization composed of dual reporting relationships in which some managers report to two superiors—a functional manager and a divisional manager.
Maximizing - A decision realizing the best possible outcome.
Mechanistic Organization - A form of organization that seeks to maximize internal efficiency.
Media Richness - The degree to which a communication channel conveys information.
Mediator - A third party who intervenes to help others manage their conflict.
Mentors - Higher-level managers who help ensure that high-potential people are introduced to top management and socialized into the norms and values of the organization.
Merger - One or more companies combining with another.
Middle-Level Managers - Managers located in the middle layers of the organizational hierarchy, reporting to top-level executives.
Mission - An organization’s basic purpose and scope of operations.
Monolithic Organization - An organization that has a low degree of structural integration—employing few women, minorities, or other groups that differ from the majority—and thus has a highly homogeneous employee population.
Moral Philosophy - Principles, rules, and values people use in deciding what is right or wrong.
Motivation - Forces that energize, direct, and sustain a person’s efforts.
Motivators - Factors that make a job more motivating, such as additional job responsibilities, opportunities for personal growth and recognition, and feelings of achievement.
Moving - Instituting the change.
Multicultural organization - An organization that values cultural diversity and seeks to utilize and encourage it.
Multinational model - An organizational model that consists of the subsidiaries in each country in which a company does business, with ultimate control exercised by the parent company.