MGMT 3000 Exam 1 (Lyons, UGA)
Questions With Correct Answers
business |environment |- |CORRECT |ANSWER✔✔-The |combination |of |all |contextual |forces |and |
elements |in |the |external |and |internal |environments |of |a |firm.
Leadership |- |CORRECT |ANSWER✔✔-The |ability |to |drive |change |and |innovation |through |
inspiration |and |motivation
The |Pillars |of |Management |- |CORRECT |ANSWER✔✔-1. |Strategic |Position
2. |Organizational |Design
3. |Individual |Leadership
Components |of |strategy |- |CORRECT |ANSWER✔✔-1. |Managing |trade |offs
2. |Choosing |a |set |of |activities
3. |Creating |fit
Organizational |Design |- |CORRECT |ANSWER✔✔-Developing |and |aligning |organizational |
components |to |achieve |strategic |objectives
Mangement |- |CORRECT |ANSWER✔✔-The |act |of |working |with |and |through |a |group |of |people |
to |accomplish |a |desired |goal |or |objected |in |an |efficient |manner
bureaucratic |organization |structure |- |CORRECT |ANSWER✔✔-A |clear |differentiation |of |tasks |
and |responsibilities |among |individuals; |coordination |through |a |strict |hierarchy |of |authority |
and |decision |rights; |standardized |rules |and |procedures; |and |the |vertical |separation |of |planning
|and |execution |so |that |plans |are |made |in |the |upper |ranks |of |an |organization |and |executed |in |
the |lower |ranks.
,environmental |change |- |CORRECT |ANSWER✔✔-how |quickly |things |are |changing
environmental |complexity |- |CORRECT |ANSWER✔✔-number |of |contextual |factors |in |the |
environment
contextual |intelligence |- |CORRECT |ANSWER✔✔-The |ability |to |understand |the |impact |of |
environmental |factors |on |a |firm |and |the |ability |to |understand |how |to |influence |those |same |
factors.
Building |Contextual |Intelligence |- |CORRECT |ANSWER✔✔-1. |Develop |appreciation |and |
awareness |of |history
2. |Stay |attuned |to |trends |in |environment
3. |Seize |firsthand |experiences
4. |Engage |in |scenario |assessment |and |contingency |planning
contingency |planning |- |CORRECT |ANSWER✔✔-The |systematic |assessment |of |the |external |
environment |to |prepare |for |a |possible |range |of |alternative |futures |for |the |organization.
environmental |scanning |- |CORRECT |ANSWER✔✔-A |tool |that |managers |use |to |scan |the |
business |horizon |for |key |events |and |trends |that |will |affect |the |business |in |the |future.
Includes |trend |analysis, |contextual |intelligence, |and |stakeholder |mapping
contingent |view |- |CORRECT |ANSWER✔✔-A |view |of |the |firm |where |effective |organizational |
structure |is |based |on |fit |or |alignment |between |the |organization |and |various |aspects |in |its |
environment.
, human |relations |movement |- |CORRECT |ANSWER✔✔-The |belief |that |organizations |must |be |
understood |as |systems |of |interdependent |human |beings |who |share |a |common |interest |in |the |
survival |and |effective |functioning |of |the |firm.
managerial |view |- |CORRECT |ANSWER✔✔-A |business |framework |where |the |firm |is |seen |as |a |
mechanism |for |converting |raw |materials |into |products |to |sell |to |customers.
Outside |parties |not |considered
scenario |building |- |CORRECT |ANSWER✔✔-Forecasting |the |likely |result |that |might |occur |when |
several |events |and |stakeholders |are |linked |together.
scientific |management |- |CORRECT |ANSWER✔✔-A |focus |on |how |jobs, |work, |and |incentive |
schemes |could |be |designed |to |improve |productivity |using |industrial |engineering |methods.
shareholder |view |- |CORRECT |ANSWER✔✔-A |business |framework |where |the |job |of |top |
managers |is |to |produce |the |highest |possible |stock |market |valuation |of |the |firm's |assets.
Stakeholder |Mapping |Steps |- |CORRECT |ANSWER✔✔-1. |Map |stakeholder |relationships |within |
firm
2. |Identify |subsets |within |stakeholders
3. |Determine |stakes |for |each |stakeholder
4. |Define |connections |between |stakeholders
Multinational |Strategy |- |CORRECT |ANSWER✔✔-The |parent |company |organizes |local |
subsidiaries |and |gives |them |autonomy |to |develop |products |tailored |to |local |tastes
Global |Strategy |- |CORRECT |ANSWER✔✔-focus |on |developing |overall |scale |economies |and |
global |efficiency |instead |of |catering |to |local |tastes
Questions With Correct Answers
business |environment |- |CORRECT |ANSWER✔✔-The |combination |of |all |contextual |forces |and |
elements |in |the |external |and |internal |environments |of |a |firm.
Leadership |- |CORRECT |ANSWER✔✔-The |ability |to |drive |change |and |innovation |through |
inspiration |and |motivation
The |Pillars |of |Management |- |CORRECT |ANSWER✔✔-1. |Strategic |Position
2. |Organizational |Design
3. |Individual |Leadership
Components |of |strategy |- |CORRECT |ANSWER✔✔-1. |Managing |trade |offs
2. |Choosing |a |set |of |activities
3. |Creating |fit
Organizational |Design |- |CORRECT |ANSWER✔✔-Developing |and |aligning |organizational |
components |to |achieve |strategic |objectives
Mangement |- |CORRECT |ANSWER✔✔-The |act |of |working |with |and |through |a |group |of |people |
to |accomplish |a |desired |goal |or |objected |in |an |efficient |manner
bureaucratic |organization |structure |- |CORRECT |ANSWER✔✔-A |clear |differentiation |of |tasks |
and |responsibilities |among |individuals; |coordination |through |a |strict |hierarchy |of |authority |
and |decision |rights; |standardized |rules |and |procedures; |and |the |vertical |separation |of |planning
|and |execution |so |that |plans |are |made |in |the |upper |ranks |of |an |organization |and |executed |in |
the |lower |ranks.
,environmental |change |- |CORRECT |ANSWER✔✔-how |quickly |things |are |changing
environmental |complexity |- |CORRECT |ANSWER✔✔-number |of |contextual |factors |in |the |
environment
contextual |intelligence |- |CORRECT |ANSWER✔✔-The |ability |to |understand |the |impact |of |
environmental |factors |on |a |firm |and |the |ability |to |understand |how |to |influence |those |same |
factors.
Building |Contextual |Intelligence |- |CORRECT |ANSWER✔✔-1. |Develop |appreciation |and |
awareness |of |history
2. |Stay |attuned |to |trends |in |environment
3. |Seize |firsthand |experiences
4. |Engage |in |scenario |assessment |and |contingency |planning
contingency |planning |- |CORRECT |ANSWER✔✔-The |systematic |assessment |of |the |external |
environment |to |prepare |for |a |possible |range |of |alternative |futures |for |the |organization.
environmental |scanning |- |CORRECT |ANSWER✔✔-A |tool |that |managers |use |to |scan |the |
business |horizon |for |key |events |and |trends |that |will |affect |the |business |in |the |future.
Includes |trend |analysis, |contextual |intelligence, |and |stakeholder |mapping
contingent |view |- |CORRECT |ANSWER✔✔-A |view |of |the |firm |where |effective |organizational |
structure |is |based |on |fit |or |alignment |between |the |organization |and |various |aspects |in |its |
environment.
, human |relations |movement |- |CORRECT |ANSWER✔✔-The |belief |that |organizations |must |be |
understood |as |systems |of |interdependent |human |beings |who |share |a |common |interest |in |the |
survival |and |effective |functioning |of |the |firm.
managerial |view |- |CORRECT |ANSWER✔✔-A |business |framework |where |the |firm |is |seen |as |a |
mechanism |for |converting |raw |materials |into |products |to |sell |to |customers.
Outside |parties |not |considered
scenario |building |- |CORRECT |ANSWER✔✔-Forecasting |the |likely |result |that |might |occur |when |
several |events |and |stakeholders |are |linked |together.
scientific |management |- |CORRECT |ANSWER✔✔-A |focus |on |how |jobs, |work, |and |incentive |
schemes |could |be |designed |to |improve |productivity |using |industrial |engineering |methods.
shareholder |view |- |CORRECT |ANSWER✔✔-A |business |framework |where |the |job |of |top |
managers |is |to |produce |the |highest |possible |stock |market |valuation |of |the |firm's |assets.
Stakeholder |Mapping |Steps |- |CORRECT |ANSWER✔✔-1. |Map |stakeholder |relationships |within |
firm
2. |Identify |subsets |within |stakeholders
3. |Determine |stakes |for |each |stakeholder
4. |Define |connections |between |stakeholders
Multinational |Strategy |- |CORRECT |ANSWER✔✔-The |parent |company |organizes |local |
subsidiaries |and |gives |them |autonomy |to |develop |products |tailored |to |local |tastes
Global |Strategy |- |CORRECT |ANSWER✔✔-focus |on |developing |overall |scale |economies |and |
global |efficiency |instead |of |catering |to |local |tastes
