WGU Principles of Management - C483|2023 LATEST UPDATE|GUARANTEED SUCCESS

Bureaucratic control deals with: rules and regulations. Which type of control system depends on pricing mechanisms and economic information to regulate activities within an organization? Market control _____ control systems are designed to measure progress toward set performance goals, and if necessary, to apply corrective measures to ensure that performance achieves managers' objectives. Bureaucratic The principle of _____ states that only cases with significant deviation from the standard require corrective action, and that managers need not be concerned with performance that equals or closely approximates the expected results. exception When legal experts advise companies to establish policies forbidding disclosure of proprietary information, they are exercising _____ control. feedforward A common disadvantage of _____ control is the long time lags that often occur between performance and review, slowing down managerial response. feedback _____ refers to focusing on short-term earnings and profits at the expense of longer-term strategic obligations. Management myopia A control system that combines four sets of performance measures—financial, customer, business process, and learning and growth—is referred to as a(n) _____. balanced scorecard _____ has become an essential part of clan control because employees' jobs, the nature of management, and the employment relationship have all changed. Empowerment Control based on the norms, values, shared goals, and trust among group members is referred to as _____ control. Clan The final step in the control process is: taking corrective action. Which of the following controls takes place before operations begin? Feedforward The control process used while plans are being carried out, including directing, monitoring, and fine-tuning activities as they are performed, is referred to as _____ control. concurrent Periodically assessing a company's own planning, organizing, leading, and controlling efforts is the essential function of ____. internal audits One of the most important changes in the U.S. labor market has been the: increasing number of women working outside the home The glass ceiling an invisible barrier that prevents female employees from being promoted. Organizations should ensure that their performance appraisal and reward systems reinforce the importance of effective diversity management as a form of _____ for managers. accountability Due to personal filters and distortions, group members often _____ their "different" colleagues rather than accurately perceiving and evaluating those individuals' contributions, capabilities, aspirations, and motivations. stereotype The most common negative effect of diversity is increased communication difficulty. When unwelcome sexual conduct has the purpose or effect of unreasonably interfering with job performance or creating an intimidating or offensive work atmosphere, it is known as: hostile environment characteristic of monolithic organizations Highly homogeneous homogeneous of the same kind; alike or consisting of parts all of the same kind. Employers benefit from hiring _____ workers because they miss fewer days of work and exhibit lower turnover, plus the company may take advantage of available tax credits. Disabled ethnocentrism the belief in the inherent superiority of one's own ethnic group or culture. One approach to increasing diversity in the workplace is affirmative action, the primary intent of which is to: correct historical discrimination and exclusion. A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? Delivery of products or services What happens when an effective value chain is created? Profit margins are increased. Industry and market analysis, competitor analysis, and social analysis are examples of which step in the strategic planning process? Analysis of external opportunities and threats Skilled management, positive cash flow, and well-known brands are examples of which component of the SWOT analysis? Strengths What denotes skills or expertise in an activity that constitutes the roots of competitiveness in an organization? Core competencies According to Michael Porter's competitive environment model, how can suppliers influence strategic planning? Suppliers can reduce manufacturing time and increase product quality. A company offers unique products in its industry to create a competitive advantage. Which type of strategy is the company using? Differentiation