MGMT 3000 SIMOON CANNON EXAM 1,
MANAGEMENT TEST 1 INTRO TO ORGANIZATION
MANAGEMENT CHAPTER 4-7 QUESTIONS WITH
VERIFIED ANSWERS
Challenges that characterize the current business landscape
globalization, technology change, collaboration, knowledge management
globalization
corporations operate worldwide, transcending national borders by tapping
international markets
technology change
engagement in artificial intelligence and machine learning, data protections, 5G,
etc. The internet can be a threat and business opportunity. AI can interfere
between humans, technology, and society
collaboration
requires productive communications among different departments, divisions, or
subunits of the organization
knowledge management
the set of practices at discovering and harnessing an organization's intellectual
resources - finding, unlocking, sharing, and capitalizing on people's expertise,
skills, wisdom, and relationships
4 functions of management
1. Planning
2. Organizing
3. Leading
4. Controlling
planning
,delivering strategic value: systematically making decisions about goals and
activities to be pursued
organizing
building a dynamic organization: assembling and coordinating resources needed
to achieve goals
leading
mobilizing people: efforts to stimulate high performance by employees
controlling
learning and changing: monitoring performance and making needed changes
3 levels of management
1. Top-level managers
2. Middle-level managers
3. Front-line managers
Top-level managers
Senior executives responsible for the overall management and effectiveness of
the organization
Middle-level managers
Managers located in the middle layers of the organizational hierarchy, reporting
to top-level executives. Sometimes called tactical managers, they are
responsible for translating the general goals and pans developed by top level
(strategic) managers into more specific objectives and activities
frontline managers
lower-level managers who supervise the operational activities of the
organization. These managers have titles such as supervisor, team leader, or
assistant manager
Must-Have Management Skills
technical, conceptual and decision, interpersonal and communication
technical skills
,ability to perform a specialized task involving a particular method or process
Conceptual and decision skills
skills related to abilities that help identify and resolve problems
interpersonal and communication skills
people skills that represent the ability to lead, motivate, and communicate
effectively with others
emotional intelligence
the skills of understanding yourself, managing yourself, and dealing effectively
with others
social capital
goodwill stemming from your social relationships
External Environment
All relevant forces outside a firm's boundaries, such as competitors, customers,
the government, and the economy.
competitive environment
includes the firm and its rivals, suppliers, buyers, new entrants, and substitute or
complementary products
Microenvironment
affects all organizations and includes economic, technological, legal and
political, demographic, social, and natural environments factors
organizations are open systems
they are affected by and in turn affect their external environment
technology
technological advances create new products and services, advanced and
production techniques, and better ways of managing and communicating
SEC
Securities and Exchange Commission
, OSHA
Occupational Safety and Health Administration
EEOC
Equal Employment Opportunity Commission
NLRB
National Labor Relations Board
OFCCP
Office of Federal Contract Compliance Programs
Demographics
Measures of various characteristics of the people who make up groups or other
social units
demographic trends
1) aging of the workforce
2) increasing educations and skill levels
3) immigration factors
4) increasingly diverse workforce
barriers to entry
conditions that prevent new companies from entering an industry. Government
policy, capital requirements, brand identifications, cost disadvantages, and
distribution channels
Substitutes
alternative products or services. potential threat
complements
products or services that increase purchases of other products. potential
opportunity
Supply Chain Management
managing the acquisition of materials, their transformation into products, and
the distribution of products to customers
MANAGEMENT TEST 1 INTRO TO ORGANIZATION
MANAGEMENT CHAPTER 4-7 QUESTIONS WITH
VERIFIED ANSWERS
Challenges that characterize the current business landscape
globalization, technology change, collaboration, knowledge management
globalization
corporations operate worldwide, transcending national borders by tapping
international markets
technology change
engagement in artificial intelligence and machine learning, data protections, 5G,
etc. The internet can be a threat and business opportunity. AI can interfere
between humans, technology, and society
collaboration
requires productive communications among different departments, divisions, or
subunits of the organization
knowledge management
the set of practices at discovering and harnessing an organization's intellectual
resources - finding, unlocking, sharing, and capitalizing on people's expertise,
skills, wisdom, and relationships
4 functions of management
1. Planning
2. Organizing
3. Leading
4. Controlling
planning
,delivering strategic value: systematically making decisions about goals and
activities to be pursued
organizing
building a dynamic organization: assembling and coordinating resources needed
to achieve goals
leading
mobilizing people: efforts to stimulate high performance by employees
controlling
learning and changing: monitoring performance and making needed changes
3 levels of management
1. Top-level managers
2. Middle-level managers
3. Front-line managers
Top-level managers
Senior executives responsible for the overall management and effectiveness of
the organization
Middle-level managers
Managers located in the middle layers of the organizational hierarchy, reporting
to top-level executives. Sometimes called tactical managers, they are
responsible for translating the general goals and pans developed by top level
(strategic) managers into more specific objectives and activities
frontline managers
lower-level managers who supervise the operational activities of the
organization. These managers have titles such as supervisor, team leader, or
assistant manager
Must-Have Management Skills
technical, conceptual and decision, interpersonal and communication
technical skills
,ability to perform a specialized task involving a particular method or process
Conceptual and decision skills
skills related to abilities that help identify and resolve problems
interpersonal and communication skills
people skills that represent the ability to lead, motivate, and communicate
effectively with others
emotional intelligence
the skills of understanding yourself, managing yourself, and dealing effectively
with others
social capital
goodwill stemming from your social relationships
External Environment
All relevant forces outside a firm's boundaries, such as competitors, customers,
the government, and the economy.
competitive environment
includes the firm and its rivals, suppliers, buyers, new entrants, and substitute or
complementary products
Microenvironment
affects all organizations and includes economic, technological, legal and
political, demographic, social, and natural environments factors
organizations are open systems
they are affected by and in turn affect their external environment
technology
technological advances create new products and services, advanced and
production techniques, and better ways of managing and communicating
SEC
Securities and Exchange Commission
, OSHA
Occupational Safety and Health Administration
EEOC
Equal Employment Opportunity Commission
NLRB
National Labor Relations Board
OFCCP
Office of Federal Contract Compliance Programs
Demographics
Measures of various characteristics of the people who make up groups or other
social units
demographic trends
1) aging of the workforce
2) increasing educations and skill levels
3) immigration factors
4) increasingly diverse workforce
barriers to entry
conditions that prevent new companies from entering an industry. Government
policy, capital requirements, brand identifications, cost disadvantages, and
distribution channels
Substitutes
alternative products or services. potential threat
complements
products or services that increase purchases of other products. potential
opportunity
Supply Chain Management
managing the acquisition of materials, their transformation into products, and
the distribution of products to customers
