MNG Chapter 2 Word Bank Review Test.

MNG Chapter 2 Word Bank Review Test. Supply chain management; - CORRECT ANSWER Refers to managing the sequence of suppliers and purchasers, covering all stages of processing from obtaining raw materials to distributing finished goods to consumers. System; - CORRECT ANSWER Is a set of interrelated parts that function as a whole to achieve a common purpose. An organization is a system. Bureaucratic organizations approach; - CORRECT ANSWER which emphasizes management on an impersonal, national basis through elements such as clearly defend authority and responsibility, formal recordkeeping and separation of management and ownership. Big data analytics; - CORRECT ANSWER Use powerful computer technology to search and examine massive, complex sets of data to uncover hidden patterns and correlations so managers can make better decisions. Administrative principles approach - CORRECT ANSWER Is a subfield of the classical perspective the focuses on the total organization rather than the individual worker and delineates the management functions of planning, organizing commanding, and controlling. Information technology; - CORRECT ANSWER . Social forces; - CORRECT ANSWER are aspects of a society that guide and influence relationships among people, such as their values needs, and standards of behavior. Quants - CORRECT ANSWER have come to dominate decision making in financial firms, and the Wall Street meltdown in shows the danger of relying too heavily on a quantitative approach. Political forces; - CORRECT ANSWER relate to the influence of political and legal institutions on people and organizations.