Mgmt 3140 UNCC Exam 1 review (Questions + Answers) Verified 100% Correct!!.

3 components of internal environments of an organization - Culture Values Climate 3 must have management skills - Conceptual/Decision Technical Interpersonal/Communication 3 ways to diagnose corporate culture - Dress Behavior Customer interaction Beliefs and values A CEO of a company would use which skills the most? - Controlling Autonomous work groups - Actually gather raw materials, quality control and responsible for an entire product or section of the production process. Barriers to decision making - Psychological biases Time pressure Social realities Satisficing Brainstorming - A process in which a group comes up with as many ideas as they can and all criticism is withheld until all ideas have been proposed.Characteristics of managerial decision making - Risk:When the probability of an action being successful is less than 100 percent and losses may occur. Uncertainty: The manager has insufficient information to know the consequences of different actions. Conflict: When a manager must consider opposing pressures from different sources, occurs at two levels. Lack of Structure: Programmed and Non-Programmed Decisions. The usual state of affairs in managerial decision making. Although some decisions are routine and clear-cut, for most there is no automatic procedure to follow. Competing value models of culture - Clan: Collaborate, Visionary Leadership, Strong Loyalty and Tradition, High Commitment, "How Things are Done Here" Adhocracy: Create, Innovative Leadership, Entrepreneurial, Possibilities and risk, "Product Leaderhship" Hierarchy: Control, Leaders are efficiency minded, secure employment, "not fully understood" Market: Compete, Leaders are result oriented, competitive, competitive advantage Contributions/benefits of teams - 1. Increase Productivity 2. Improve Quality 3. Reduce Costs 4. Enhance Speed5. Be powerful forces for innovation, creativity and change. Deciding on the first choice or option. - Satisficing