WGU C483 - Principles of Management Questions and Answers 100% Pass

WGU C483 - Principles of Management Questions and Answers 100% Pass Accommodation A style of dealing with conflict involving cooperation on behalf of the other party but not being assertive about one's own interests Accountability The expectation that employees will perform a job, take corrective action when necessary, and report upward on the status and quality of their performance Accounting audits Procedures used to verify accounting reports and statements Acquisition One firm buying another Activity-based costing (ABC) A method of cost accounting designed to identify streams of activity and then to allocate costs across particular business processes according to the amount of time employees devote to particular activities Adapters Companies that take the current industry structure and its evolution as givens, and choose where to compete Adverse impact When a seemingly neutral employment practice has a disproportionately negative effect on a protected group Advertising support model Charging fees to advertise on a site Affective conflict Emotional disagreement directed toward other people Affiliate model Charging fees to direct site visitors to other companies' sitesAffirmative action Special efforts to recruit and hire qualified members of groups that have been discriminated against in the past After-action review A frank and open-minded discussion of four basic questions aimed at continuous improvement Alderfer's ERG theory A human needs theory postulating that people have three basic sets of needs that can operate simultaneously (Existence, Relatedness and Growth) Arbitration The use of a neutral third party to resolve a labor dispute Assessment center A managerial performance test in which candidates participate in a variety of exercises and situations Assets The values of the various items the corporation owns Authentic leadership A style in which the leader is true to himself or herself while leading Authority The legitimate right to make decisions and to tell other people what to do Autocratic leadership A form of leadership in which the leader makes decisions on his or her own and then announces those decisions to the group Autonomous work groups Groups that control decisions about and execution of a complete range of tasks Avoidance A reaction to conflict that involves ignoring the problem by doing nothing at all or deemphasizing the disagreementBalanced scorecard Control system combining four sets of performance measures: financial, customer, business process, and learning and growth Balance sheet A report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity Barriers to entry Conditions that prevent new companies from entering an industry Behavioral approach A leadership perspective that attempts to identify what good leaders do— that is, what behaviors they exhibit Benchmarking The process of comparing an organization's practices and technologies with those of other companies Bootlegging Informal work on projects, other than those officially assigned, of employees' own choosing and initiative Boundaryless organization Organization in which there are no barriers to information flow Boundary-spanning Interacting with people in other groups, thus creating linkages between groups Bounded rationality A less-than-perfect form of rationality in which decision makers cannot be perfectly rational because decisions are complex and complete information is unavailable or cannot be fully processed Brainstorming A process in which group members generate as many ideas about a problem as they can; criticism is withheld until all ideas have been proposedBroker A person who assembles and coordinates participants in a network Budgeting The process of investigating what is being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences; also called budgetary controlling Buffering Creating supplies of excess resources in case of unpredictable needs Bureaucratic control The use of rules, regulations, and authority to guide performance Business accelerators Organization that provides support and advice to help young businesses grow Business ethics The moral principles and standards that guide behavior in the world of business Business incubators Protected environments for new, small businesses Business plan A formal planning step that focuses on the entire venture and describes all the elements involved in starting it Business strategy The major actions by which a business competes in a particular industry or market Cafeteria benefit program An employee benefit program in which emplo