PRM Exam 1 Questions & Answers 2023/2024

PRM Exam 1 Questions & Answers 2023/2024 Most common reason why customers go elsewhere - ANSWER-Employee's attitude of indifference Factors that foster company loyalty - ANSWER-1) Recognition of good work 2) Challenging work *Functions of management (understand) - ANSWER-1) Forecast and plan: might be most critical; can't eliminate chance/uncertainty, but can prepare for it 2) Organize: develop framework; DIVISION OF LABOR; balance authority and responsibility 3) Command/direct: ordering, supervising, leading, motivating, *communicating* 4) Coordinate: get everybody and everything working together; manage conflict 5) Control: see if meeting goals and make adjustments Importance of entrepreneurship - ANSWER-Someone has to be the one to take risks to keep the profession moving forward *Define transactional leadership - ANSWER-Might be called managing more than leading Leading transactions to get tasks done *Define transformational leadership - ANSWER-Leaders and followers help each other advance to higher levels of moral and motivation *Components of transformational leadership - ANSWER-Idealized influence: role model to followers Inspirational motivation Individualized consideration: concerned about followers needs-bring out best efforts Intellectual stimulation: challenge people to be innovative/creative