C483 Principles of Management Key Terms
Exam Questions and Correct Answers
Conceptual and decision skills
Ability to identify and resolve problems for the benefit of the organization.
Controlling
Management function of monitoring performance and making needed changes.
Emotional intelligence
Skills of understanding yourself, managing yourself, and dealing effectively with others.
Innovation
The introduction of new goods and services.
Management
Working with people and resources to accomplish organizational goals.
Organizing
Assembling and coordinating resources needed to achieve goals.
Planning
Systematically making decisions about the goals and activities to pursue.
Sustainability
Effort to minimize resource use, especially polluting and nonrenewable resources.
Benchmarking
, Comparing organization's practices and technologies with those of other companies.
Competitive environment
Immediate environment surrounding a firm, including suppliers, customers, and rivals.
Demographics
Measures of various characteristics of people who make up social units.
External environment
All relevant forces outside a firm's boundaries.
Macroenvironment
General environment including governments, economic conditions, and fundamental factors.
Organization culture
Shared assumptions about organization goals and practices that members share.
Bounded rationality
Decision makers cannot be perfectly rational due to complexity and incomplete information.
Brainstorming
Group members generate as many ideas as possible while withholding criticism.
Groupthink
Phenomenon where group members avoid disagreement as they strive for consensus.
Satisficing
Exam Questions and Correct Answers
Conceptual and decision skills
Ability to identify and resolve problems for the benefit of the organization.
Controlling
Management function of monitoring performance and making needed changes.
Emotional intelligence
Skills of understanding yourself, managing yourself, and dealing effectively with others.
Innovation
The introduction of new goods and services.
Management
Working with people and resources to accomplish organizational goals.
Organizing
Assembling and coordinating resources needed to achieve goals.
Planning
Systematically making decisions about the goals and activities to pursue.
Sustainability
Effort to minimize resource use, especially polluting and nonrenewable resources.
Benchmarking
, Comparing organization's practices and technologies with those of other companies.
Competitive environment
Immediate environment surrounding a firm, including suppliers, customers, and rivals.
Demographics
Measures of various characteristics of people who make up social units.
External environment
All relevant forces outside a firm's boundaries.
Macroenvironment
General environment including governments, economic conditions, and fundamental factors.
Organization culture
Shared assumptions about organization goals and practices that members share.
Bounded rationality
Decision makers cannot be perfectly rational due to complexity and incomplete information.
Brainstorming
Group members generate as many ideas as possible while withholding criticism.
Groupthink
Phenomenon where group members avoid disagreement as they strive for consensus.
Satisficing
