GMGT 1010 Quiz 2
What are the domains of management? - ANS-People, Money, managing other
organizations and resources
What are the steps of a value chain? - ANS-1) Acquires the resources it needs (money,
people, other resources)
2) Engages in day-to-day operations to use and add value to these resources (inputs
into products and services)
3) Utilizes its value-added outputs to further it interests (sells products and services to
customers, basically where you make your money)
Traditional value chain process - ANS-input to conversion process, output
Domains of Management
Inputs
Members: ?
Money: ?
Other org/resources: ? - ANS-HR
Finance
Supply Chain Mgmt
Domains of Management
Conversion Process
Members: ?
Money: ?
Other org/resources: ? - ANS-HR
Accounting
Operations Mgmt
Domains of Management
Outputs
Members: ?
Money: ?
Other org/resources: ? - ANS-HR
Finance
Marketing
Human Resource Management - ANS-(MANAGING PEOPLE)
, How an organization (RTCPD)
1) Recruits its people
2) Train your people
3) Compensate you people
4) Promote you people
5) Dismiss your people
Finance - ANS-(RAISING AND INVESTING)
Raising money (financing) business getting capital and spending money (investing) how
a business invests and where it all goes
Accounting - ANS-(MEASURING AND COUNTING)
Measurement of wealth and financial impact of transactions
Business: accounting day to day, allocating funds, tracking daily funds
Supply Chain Management - ANS-(INTER-ORG RELATIONSHIPS)
Where business gets it raw materials from and how to get the supplies from other
organizations
Operations Management - ANS-(CONVERTING INPUTS AND OUTPUTS)
Production management and service operations
Bottle neck where things slow down process
Control of: Converting from inputs to outputs process
Marketing - ANS-(SELLING OUTPUTS)
4 P's
Price, Promotion, Product, Place
What are the 3 Big Social Issues? - ANS--Working conditions
Labor, health and safety, human rights
-Inequality
Economic, gender, racial
-Consumerism
Been around since the beginning. Buy stuff don't need and take for granted.
Globalization - ANS-is the increasing movement of goods, services, and capital across
the national borders
Why does globalization heightens social issues? - ANS--takes advantage of local
communities
What are the domains of management? - ANS-People, Money, managing other
organizations and resources
What are the steps of a value chain? - ANS-1) Acquires the resources it needs (money,
people, other resources)
2) Engages in day-to-day operations to use and add value to these resources (inputs
into products and services)
3) Utilizes its value-added outputs to further it interests (sells products and services to
customers, basically where you make your money)
Traditional value chain process - ANS-input to conversion process, output
Domains of Management
Inputs
Members: ?
Money: ?
Other org/resources: ? - ANS-HR
Finance
Supply Chain Mgmt
Domains of Management
Conversion Process
Members: ?
Money: ?
Other org/resources: ? - ANS-HR
Accounting
Operations Mgmt
Domains of Management
Outputs
Members: ?
Money: ?
Other org/resources: ? - ANS-HR
Finance
Marketing
Human Resource Management - ANS-(MANAGING PEOPLE)
, How an organization (RTCPD)
1) Recruits its people
2) Train your people
3) Compensate you people
4) Promote you people
5) Dismiss your people
Finance - ANS-(RAISING AND INVESTING)
Raising money (financing) business getting capital and spending money (investing) how
a business invests and where it all goes
Accounting - ANS-(MEASURING AND COUNTING)
Measurement of wealth and financial impact of transactions
Business: accounting day to day, allocating funds, tracking daily funds
Supply Chain Management - ANS-(INTER-ORG RELATIONSHIPS)
Where business gets it raw materials from and how to get the supplies from other
organizations
Operations Management - ANS-(CONVERTING INPUTS AND OUTPUTS)
Production management and service operations
Bottle neck where things slow down process
Control of: Converting from inputs to outputs process
Marketing - ANS-(SELLING OUTPUTS)
4 P's
Price, Promotion, Product, Place
What are the 3 Big Social Issues? - ANS--Working conditions
Labor, health and safety, human rights
-Inequality
Economic, gender, racial
-Consumerism
Been around since the beginning. Buy stuff don't need and take for granted.
Globalization - ANS-is the increasing movement of goods, services, and capital across
the national borders
Why does globalization heightens social issues? - ANS--takes advantage of local
communities
