MGMT Exam 1 (Chapters 1 - 5) Complete Assignment With Questions And Answers.

Organization - correct answer a group of people who work together to achieve some specific purpose Management - correct answer defined as: -the pursuit of organizational goals efficiently and effectively by -integrating the work of people through -planning, organizing, leading, and controlling the organization's resources Simply put: -the art of getting things done through people Efficient - correct answer to be _____________ means to use resources - people, money, raw materials, and the like - wisely and cost-effectively Effective - correct answer to be _____________ means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organization's goals Multiplier Effect - correct answer refers to the idea that a manager's influence extends far beyond the results that can be achieved by just one individual acting alone Rewards of Studying Management - correct answer _______________ of studying management: -understand how to deal w/ organizations from the outside -understand how to relate to your supervisors -understand how to interact w/ coworkers -understand how to manage yourself in the workplace Rewards to Practicing Management - correct answer ____________ of practicing management: -you & employees can experience a sense of accomplishment -stretch your abilities and magnify your range -build a catalog of successful p/s -you can become a mentor and help others Management Process - correct answer the ________________ process: 1. Planning 2.Organizing 3. Leading 4. Controlling Planning - correct answer the first part of the mgmt process you set goals and decide how to achieve them Organizing - correct answer the second step of the mgmt process you arrange tasks, people, and other resources to accomplish the work Leading - correct answer the third step of the mgmt process you motivate, direct, and otherwise influence people to work hard to achieve the organization's goals Controlling - correct answer the fourth step of the mgmt process you monitor performance, compare it with goals, and take corrective action as needed Seven Challenges to Being a Star Manager - correct answer 1. manage for competitive advantage -staying ahead of rivals 2. managing for diversity -future won't resemble the past 3. manage for globalization -the expanding mgmt universe 4. manage for information technology -dealing w/ the new normal 5. managing for ethical standards 6. manage for sustainability -the business of green 7. managing for your own happiness & meaningfulness Competitive Advantage - correct answer the ability of an organization to produce g/s more effectively than competitors do, thereby outperforming them E-Business - correct answer using the internet to facilitate every aspect of running a business -information technology has led to the growth in this Implications of Info Technology - correct answer -far-ranging electronic mgmt: e-communication all the time -more and more data: challenges to decision making -rise of artificial intelligence:more automation in the workforce -organizational changes: shifts in structure, jobs, goals, and knowledge mgmt Sustainability - correct answer economic development that meets the needs of the present WITHOUT compromising the ability of future generations to meet their own needs Top Managers - correct answer -level of mgmt -make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it Middle Managers - correct answer -level of mgmt -implement the policies and plans of the top managers above them and supervise/coordinate the activities of the first-line manages below them "High Touch" Jobs - correct answer jobs dealing with people rather than computer screens or voice-response systems First-Line Manager - correct answer -level of mgmt -make short-term operating decisions, directing the daily tasks of non-managerial personnel Team Leader - correct answer a manager who is responsible for facilitating team activities toward achieving key results Functional Manager - correct answer manager that is responsible for just one organizational activity General Manager - correct answer manager that's responsible for several organizational activities Mutual-Benefit Organizations - correct answer voluntary collections of members - political parties, farm cooperatives, labor unions, trade associations, and clubs - whose purpose it to advance members' interests Commonweal Organization - correct answer offer services to all clients within their jurisdictions ex: military services, the USPS, local fire & police stations Technical Skills - correct answer -skills that are important for first-line managers -the job-specific knowledge needed to perform well in a specialized field Conceptual Skills - correct answer -skills key for higher-level positions -the ability to think analytically, to visualize an organization as a whole and understand how the parts work together Human Skills - correct answer -type of skills needed for exceptional managers -the ability to work well in cooperation with other people to get things done Soft Skills - correct answer -type of skills needed for exceptional managers -the ability to motivate, to inspire trust, to communicate with others Most Valued Traits in Managers - correct answer -ability to motivate & engage others -ability to communicate -work experience outside the US -high energy levels to meet the demands of global travel and a 24/7 world Interpersonal Roles - correct answer -one of Mintzberg's 3 broad types of roles -figurehead, leader & liaison -managers who interact with people inside and outside their work units Informational Roles - correct answer -one of Mintzberg's 3 broad types of roles -monitor, disseminator & spokesperson -managers receive and communicate information Decisional Roles - correct answer -one of Mintzberg's 3 broad types of roles -managers use information to make decisions to solve problems or take advantage of opportunities -entrepreneur, disturbance handler, resource allocator & negotiator Mintzberg's Useful Findings - correct answer -he found 3 broad roles that managers must play successfully 1. manager relies more on verbal than on written communication 2. a manager works long hours at an intense pace 3. a manager's work is characterized by fragmentation, brevity & variety Ambiguous Information - correct answer information that is unclear or incomplete Entrepreneurship - correct answer the process of taking risks to try to create a new empire -entrepreneur & intrapreneur Entrepreneur - correct answer someone who sees a new opportunity for a p/s and launches a business to try to realize it Intrapreneur - correct answer someone who works inside an existing organization who sees an opportunity for a p/s and mobilizes the organization's resources to try to realize it Difference b/w Entrepreneur & Manager - correct answer an entrepreneur initiates new g/s while a manager coordinates resources needed to produce them Necessity Entrepreneurs - correct answer -type of entrepreneur -people who suddenly must earn a living and are simply trying to replace lost income and are hoping a job comes along Opportunity Entreprenuers - correct answer -type of entrepreneur -those who start their business out of a burning desire rather than b/c they lost a job Six Practical Reasons for Studying This