CLEP Exam - Principles of Management | 288 Questions And Answers Already Graded A+

planning - The act of determining the organization's goals and defining the means for achieving them. One of the five basic functions of managers. decision-making process - 1st step - Define the problem decision-making process - 2nd Step - Identify limiting factors. decision-making process - 3rd Step - Develop and potential alternatives. decision-making process- 4th step - Analyze the alternatives. extrinsic rewards - Are externally administered. Praise, a promotion, office décor, and desirable assignments are all examples of extrinsic rewards. intrinsic rewards - Are self-administered. Are rewards that provide a sense of achievement and accomplishment. They are internally administered, meaning that they are not reliant on the behaviors of other people. tactical goals - Are specific work goals that middle-level managers derive from the broader strategic goals. strategic goal - Is an organization-wide, long-term goal devised by a top-level manager. operational goals - Specific, measurable results expected from first-level managers, work groups, and individuals. organizational chart - A pictorial display of the official lines of authority and communication with in an ion tree - A diagram that analyzes hiring, marketing investment, equipment purchases, pricing, and similar decisions. Decision trees assign probabilities to each possible outcome and calculate payoffs fore each decision path. brainstorming - An idea-generating process that encourages the development of alternative s while withholding criticism of these alternatives. classical management theory - A theory developed during the Industrial Revolution, that proposes "one best way" to perform tasks. Classical manger theory developed into two separate branches: the "classical scientific school" and the "classical administrative school". behavioral school - Focuses on the human-based elements of work, believing that increased understanding of such behaviors as group interaction, motivation, and conflict resolution will lead to increased productivity. quantitative approach school of management - Using quantitative techniques, such as statistics, information models, and computer simulations, to improve decision making. Was born from research conducted during World War II.