MGT202 (MGT202)

What is the role of information in the management process? - Answer helps managers make sound decisions, using useful information to back up decisions 3 main competencies for managers - Answer technological, information, analytical 5 characteristics of useful information - Answer -timely -high quality -complete -relevant -understandable analytics - Answer systematic gathering and processing of data to make it as useful as information data vs. information -...

intellectual capital - Answer the collective brainpower or shared knowledge of a workforce competency - Answer personal talents and job-related capabilities commitment - Answer how hard you work to apply competencies to tasks knowledge workers - Answer employees whose mind is an asset tech IQ - Answer the ability to use technology at work and personal use globalization - Answer worldwide interdependence of resource flows, product markets, and bu...

Decision - Answer Choice made from available alternatives Decision Making - Answer Process of identifying problems and opportunities Programmed decisions - Answer Situations that have occurred often enough to enable decision rules to be developed and applied in the future [certainty and risk] Non-Programmed Decisions - Answer Situations that are unique, are poorly defined, and largely unstructured, and have important consequences for the future [uncertainty and...

Organizing - Answer Process of arranging, connecting, and integrating people and other resources to accomplish a goal. Creates a division of labor and then coordinate processes and results to achieve a common purpose Organization structure - Answer a system of tasks, reporting relationships, and communication linkages Organization chart - Answer Describes the arrangement of work positions within an organization Formal structure - Answer How the organization is in...

controlling - Answer the process of measuring performance and taking action to ensure desired results (the right way, right time, etc) BENEFIT: Organizational learning (ex. After-Action Reviews, a systematic assessment of lessons learned and results accomplished in a completed project) ROLE: measure performance and take corrective action. Work Inputs - Answer solving problems BEFORE they occur (FEEDFORWARD (preliminary) CONTROL - Answer ensure the right directions...

Leadership - Answer the ability to motivate individuals and groups to accomplish important goals Power - Answer Ability to get someone else to do something you want done or make things happen the way you want. Leaders gain power from the position they hold and from their personal qualities Position power - Answer Based on a manager's official status in the firm's hierarchy of authority Reward power - Answer Capability to offer something of value Coercive...

leader - Answer Someone who can influence others and who has managerial authority leadership - Answer A process of influencing a group to achieve goals behavioral theories of leadership - Answer Theories that identify behaviors that differentiate effective leaders from ineffective leaders autocratic style - Answer A leader who dictates work methods, makes unilateral decisions, and limits employee participation democratic style - Answer A leader who invol...

human capital - Answer economic value of people with knowledge, ideas, etc. human resource management - Answer process of: -attracting -developing -maintaining a workforce attracting - Answer human resource planning, recruitment, selection developing - Answer employee orientation, training, development, performance management maintaining - Answer career development, work/life balance, pay/benefits, retention equal opportunity - Answer emplo...

Organizational culture - Answer is the system of shared beliefs and values that guides behavior in organizations. Hierarchical cultures - Answer emphasize tradition and clear role dependable cultures - Answer emphasize process and slow change enterprising cultures - Answer emphasize creativity and competition social cultures - Answer emphasize collaboration and trust. Strong organizational cultures - Answer are clear, well defined, and widely sh...

Competitive advantage - Answer the ability to do something so well that one outperforms competitors Sustainable competitive advantage - Answer the ability to outperform rivals in ways that are difficult or costly to imitate strategy - Answer a comprehensive plan guiding resource allocation to achieve long-term organization goals Strategic intent - Answer focuses and applies organizational energies on a unifying and compelling goal Corporate Strategy - Answer ...