MGMT 303 CH 1-6 (MIDTERM REVIEW) EXAM WITH
COMPLETE SOLUTIONS
Organization - ANSWER A group of people who work together to achieve some
specific purpose.
Managers operate within many types of organizations
Management - ANSWER 1. The pursuit of organizational goals efficiently and
effectively.
2. Integrating the work of people.
3. Planning, organizing, leading, and controlling the organization's resources.
To be efficient means - ANSWER to use resources—people, money, raw
materials, and the like—wisely and cost-effectively.
To be effective means - ANSWER to achieve results, to make the right decisions
and to successfully carry them out so that they achieve the organization's
Rewards for studying management - ANSWER - You will understand how to deal
with organizations from the outside.
- You will understand how to relate to your supervisors.
- You will understand how to interact with co-workers.
- You will understand how to manage yourself in the workplace.
- You and your employees can experience a sense of accomplishment.
- You can stretch your abilities and magnify your range.
- You can build a catalog of successful products or services.
- You can become a mentor and help others
- You might make more money during your career.
Planning - ANSWER you set goals and decide how to achieve them
Organizing - ANSWER you arrange tasks, people, and other resources to
accomplish the work
Leading - ANSWER you motivate, direct, and otherwise influence people to work
hard to achieve the organization's goals
Controlling - ANSWER you monitor performance, compare it with goals, and take
corrective action as needed
,Top managers (CEO) - ANSWER Make long-term decisions about the overall
direction of the organization and establish the objectives, policies, and
strategies for it.
Middle managers (District Manager) - ANSWER Implement the policies and plans
of the top managers above them and supervise and coordinate the activities of
the first-line managers below them.
First-line managers (Store Manager) - ANSWER Make short-term operating
decisions, directing the daily tasks of non managerial personnel.
Team leader (Shift Lead) - ANSWER Responsible for facilitating team activities
toward achieving key results.
Functional manager - ANSWER Responsible for just one organizational activity
I.e. director of finance, vice president of production
General manager - ANSWER Responsible for several organizational activities.
I.e. executive vice president, an executive director for a nonprofit.
Multiplier effect - ANSWER Your influence on the organization is multiplied far
beyond the results that can be achieved by just one person acting alone.
Interpersonal roles - ANSWER Interact with people inside and outside their work
units
ex: Figurehead, leader, liaison
Informational roles - ANSWER managers receive and communicate information
ex: monitor, disseminator, spokesperson
Decisional roles - ANSWER managers use the information to make decisions to
solve problems or take advantage of opportunities
ex: Entrepreneur, disturbance handler, resource allocator, and negotiator.
Mintzberg's useful findings - ANSWER 1. A manager relies more on verbal than
on written communication.
2. A manager works long hours at an intense pace (50 hours)
3. A manager's work is characterized by fragmentation, brevity, and variety.
Technical skills - ANSWER The job-specific knowledge needed to perform well in
a specialized field.
Conceptual skills - ANSWER The ability to think analytically, to visualize an
organization as a whole and understand how the parts work together.
, Human skills (soft skills) - ANSWER The ability to work well in cooperation with
other people to get things done; the ability to motivate, to inspire trust, to
communicate with others.
Competitive advantage - ANSWER The ability of an organization to produce
goods or services more effectively than competitors do, thereby outperforming
them.
Having a competitive advantage means... - ANSWER 1. Being responsive to
customers.
2. Innovation: finding ways to deliver better goods or services.
3. Quality: making improvements in quality so that consumers choose your
product.
4. Efficiency: overstaffing and overuse of raw materials can make you less
competitive.
Information Technology - ANSWER Information technology has led to the growth
of e-business, using the Internet to facilitate every aspect of running a business.
Sustainability - ANSWER - It is economic development that meets the needs of
the present without compromising the ability of future generations to meet their
own needs.
- An apparently changing climate has brought the issue of being "green" to
increased prominence.
Meaningfulness - ANSWER the sense of belonging to and serving something that
you believe is bigger than the self
The three historical viewpoints: - ANSWER classical, behavioral, and
quantitative
The three contemporary viewpoints: - ANSWER systems, contingency, and
quality management.
SIX PRACTICAL REASONS for LEARNING THESE THEORIES: - ANSWER 1.
Understanding of the present.
2. Guide to action.
3. Source of new ideas.
4. Clues to the meaning of your managers' decisions.
5. Clues to the meaning of outside events.
6. Producing positive results.
From these theories, we can learn that... - ANSWER no one theory is perfect.
Each one of those theories has their pros and cons.
COMPLETE SOLUTIONS
Organization - ANSWER A group of people who work together to achieve some
specific purpose.
Managers operate within many types of organizations
Management - ANSWER 1. The pursuit of organizational goals efficiently and
effectively.
2. Integrating the work of people.
3. Planning, organizing, leading, and controlling the organization's resources.
To be efficient means - ANSWER to use resources—people, money, raw
materials, and the like—wisely and cost-effectively.
To be effective means - ANSWER to achieve results, to make the right decisions
and to successfully carry them out so that they achieve the organization's
Rewards for studying management - ANSWER - You will understand how to deal
with organizations from the outside.
- You will understand how to relate to your supervisors.
- You will understand how to interact with co-workers.
- You will understand how to manage yourself in the workplace.
- You and your employees can experience a sense of accomplishment.
- You can stretch your abilities and magnify your range.
- You can build a catalog of successful products or services.
- You can become a mentor and help others
- You might make more money during your career.
Planning - ANSWER you set goals and decide how to achieve them
Organizing - ANSWER you arrange tasks, people, and other resources to
accomplish the work
Leading - ANSWER you motivate, direct, and otherwise influence people to work
hard to achieve the organization's goals
Controlling - ANSWER you monitor performance, compare it with goals, and take
corrective action as needed
,Top managers (CEO) - ANSWER Make long-term decisions about the overall
direction of the organization and establish the objectives, policies, and
strategies for it.
Middle managers (District Manager) - ANSWER Implement the policies and plans
of the top managers above them and supervise and coordinate the activities of
the first-line managers below them.
First-line managers (Store Manager) - ANSWER Make short-term operating
decisions, directing the daily tasks of non managerial personnel.
Team leader (Shift Lead) - ANSWER Responsible for facilitating team activities
toward achieving key results.
Functional manager - ANSWER Responsible for just one organizational activity
I.e. director of finance, vice president of production
General manager - ANSWER Responsible for several organizational activities.
I.e. executive vice president, an executive director for a nonprofit.
Multiplier effect - ANSWER Your influence on the organization is multiplied far
beyond the results that can be achieved by just one person acting alone.
Interpersonal roles - ANSWER Interact with people inside and outside their work
units
ex: Figurehead, leader, liaison
Informational roles - ANSWER managers receive and communicate information
ex: monitor, disseminator, spokesperson
Decisional roles - ANSWER managers use the information to make decisions to
solve problems or take advantage of opportunities
ex: Entrepreneur, disturbance handler, resource allocator, and negotiator.
Mintzberg's useful findings - ANSWER 1. A manager relies more on verbal than
on written communication.
2. A manager works long hours at an intense pace (50 hours)
3. A manager's work is characterized by fragmentation, brevity, and variety.
Technical skills - ANSWER The job-specific knowledge needed to perform well in
a specialized field.
Conceptual skills - ANSWER The ability to think analytically, to visualize an
organization as a whole and understand how the parts work together.
, Human skills (soft skills) - ANSWER The ability to work well in cooperation with
other people to get things done; the ability to motivate, to inspire trust, to
communicate with others.
Competitive advantage - ANSWER The ability of an organization to produce
goods or services more effectively than competitors do, thereby outperforming
them.
Having a competitive advantage means... - ANSWER 1. Being responsive to
customers.
2. Innovation: finding ways to deliver better goods or services.
3. Quality: making improvements in quality so that consumers choose your
product.
4. Efficiency: overstaffing and overuse of raw materials can make you less
competitive.
Information Technology - ANSWER Information technology has led to the growth
of e-business, using the Internet to facilitate every aspect of running a business.
Sustainability - ANSWER - It is economic development that meets the needs of
the present without compromising the ability of future generations to meet their
own needs.
- An apparently changing climate has brought the issue of being "green" to
increased prominence.
Meaningfulness - ANSWER the sense of belonging to and serving something that
you believe is bigger than the self
The three historical viewpoints: - ANSWER classical, behavioral, and
quantitative
The three contemporary viewpoints: - ANSWER systems, contingency, and
quality management.
SIX PRACTICAL REASONS for LEARNING THESE THEORIES: - ANSWER 1.
Understanding of the present.
2. Guide to action.
3. Source of new ideas.
4. Clues to the meaning of your managers' decisions.
5. Clues to the meaning of outside events.
6. Producing positive results.
From these theories, we can learn that... - ANSWER no one theory is perfect.
Each one of those theories has their pros and cons.
