C483 Principles of Management Definitions
Exam Questions and Correct Answers
Conceptual and decision skills
Skills to identify and resolve problems for the benefit of the organization and its members
Controlling
Monitoring performance and making needed changes
Cost competitiveness
Keeping costs low to achieve profits and offer attractive prices to consumers
Emotional intelligence
Understanding oneself, managing oneself, and dealing effectively with others
Frontline managers
Lower-level managers supervising operational activities
Innovation
Introduction of new goods and services
Interpersonal and communication skills
Ability to lead, motivate, and communicate effectively with others
Knowledge management
Practices aimed at discovering and harnessing an organization's intellectual resources
Leading
,Efforts to stimulate high performance by employees
Management
Working with people and resources to accomplish organizational goals
Middle-level managers
Managers in the middle layers of the organizational hierarchy, reporting to top-level executives
Organizing
Assembling and coordinating resources needed to achieve goals
Planning
Systematically making decisions about goals and activities
Quality
Excellence of products (goods or services)
Service
Speed and dependability in delivering what customers want
Social capital
Goodwill stemming from social relationships
Speed
Fast and timely execution, response, and delivery of results
Sustainability
, Effort to minimize the use of non-polluting and nonrenewable resources
Technical skill
Ability to perform a specialized task involving a particular method or process
Top-level managers
Senior executives responsible for overall management and effectiveness of the organization
Value
Monetary amount associated with how well a job, task, good, or service meets user's needs
Acquisition
One firm buying another
Barriers to entry
Conditions preventing new companies from entering an industry
Benchmarking
Comparing an organization's practices and technologies with those of other companies
Buffering
Creating supplies of excess resources in case of unpredictable needs
Competitive environment
Immediate environment surrounding a firm; includes suppliers, customers, rivals, and the like
Competitive intelligence
Exam Questions and Correct Answers
Conceptual and decision skills
Skills to identify and resolve problems for the benefit of the organization and its members
Controlling
Monitoring performance and making needed changes
Cost competitiveness
Keeping costs low to achieve profits and offer attractive prices to consumers
Emotional intelligence
Understanding oneself, managing oneself, and dealing effectively with others
Frontline managers
Lower-level managers supervising operational activities
Innovation
Introduction of new goods and services
Interpersonal and communication skills
Ability to lead, motivate, and communicate effectively with others
Knowledge management
Practices aimed at discovering and harnessing an organization's intellectual resources
Leading
,Efforts to stimulate high performance by employees
Management
Working with people and resources to accomplish organizational goals
Middle-level managers
Managers in the middle layers of the organizational hierarchy, reporting to top-level executives
Organizing
Assembling and coordinating resources needed to achieve goals
Planning
Systematically making decisions about goals and activities
Quality
Excellence of products (goods or services)
Service
Speed and dependability in delivering what customers want
Social capital
Goodwill stemming from social relationships
Speed
Fast and timely execution, response, and delivery of results
Sustainability
, Effort to minimize the use of non-polluting and nonrenewable resources
Technical skill
Ability to perform a specialized task involving a particular method or process
Top-level managers
Senior executives responsible for overall management and effectiveness of the organization
Value
Monetary amount associated with how well a job, task, good, or service meets user's needs
Acquisition
One firm buying another
Barriers to entry
Conditions preventing new companies from entering an industry
Benchmarking
Comparing an organization's practices and technologies with those of other companies
Buffering
Creating supplies of excess resources in case of unpredictable needs
Competitive environment
Immediate environment surrounding a firm; includes suppliers, customers, rivals, and the like
Competitive intelligence
