- Study guides, Class notes & Summaries

Chapter 1: Foundations of Management - correct answer Definition of Management - correct answer Attainment of organizational goals in effective and efficient manner thru planning, organizing leading and controlling organizational resources. 4 Pillars of Management - correct answer - Planning - Organizing - Leading - Controlling Functions of Planning - correct answer ...

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16 pages

Written in 2023/2024

Grade A+

RealGrades

management - correct answer getting work done through others efficiency - correct answer getting work done with a minimum of effort, expense, or waste effectiveness - correct answer accomplishing tasks that help fulfill organizational objectives Fayol's 5 managerial functions - correct answer 1. planning 2. organizing 3. coordinating 4. commanding 5. ...

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20 pages

Written in 2023/2024

Grade A+

RealGrades

List and describe the components of Porter's Strategy typology - correct answer - Michael Porter - Creating Value Competitive Advantage - Value: • Low-Cost Strategy: reduce cost; lean; keep prices low • Differentiation Strategy: product must be unique from competitors; can charge higher prices Explain the concept of "core capabilities" - correct answer Core Capabilities: create a competitive advantage, strategic reso...

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13 pages

Written in 2023/2024

Grade A+

RealGrades

Management is... - correct answer getting work done through others efficiently and effectively efficiency - correct answer is getting work done with minimal effort effectiveness - correct answer is accomplishing tasks that help fulfill the organizations goals planning - correct answer determine goals and ways to attain them organizing - correct answer ...

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3 pages

Written in 2023/2024

Grade A+

RealGrades

Team - correct answer A small number of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hold themselves mutually acceptable What are some characteristics of a team? - correct answer -2 or more people -A shared purpose and common identity -Work interdependently/joint effort -Collective work products/services -Mutual accountbility Formal Groups - correc...

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18 pages

Written in 2023/2024

Grade A+

RealGrades

today's effective managers... (4) - correct answer 1. do more with less 2. engage employees hearts, minds, and energy 3. see change as natural 4. inspire vision and cultural values that allow people to create a collaborative and productive workplace management definition - correct answer the attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizat...

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23 pages

Written in 2023/2024

Grade A+

RealGrades

An _______ works inside an existing organization, sees opportunity for a product or service, and tries to capitalize on it. - correct answer intrapreneur Explain how the Internet can affect companies or activities that depend heavily on the flow of information: - correct answer -It enables the use of collaborative computing -It lowers the cost of communications -It accelerates decision making, conflict, and stress What are...

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15 pages

Written in 2023/2024

Grade A+

RealGrades

power - correct answer a person's capacity to influence the behavior and attitudes of others organizational power - correct answer a person's ability to satisfy or deny satisfaction of another's need, based on a formal contractual relationship between an organization and the individual personal power - correct answer a person's ability to satisfy or deny satisfaction of another's need, b...

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10 pages

Written in 2023/2024

Grade A+

RealGrades

What are the three main types of skills needed by managers? - correct answer Technical, Conceptual and Human or interpersonal managerial skills. Efficiency - correct answer Effectiveness - correct answer 1.) Meaningful Results 2.)Contributes to Team Members' Satisfaction 3.)Enhance Ability of Team Members to Work together in the future. Classical Perspective - correct answer ...

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14 pages

Written in 2023/2024

Grade A+

RealGrades

organization - correct answer systematic arrangement of people brought together to accomplish some specific purpose. 3 common characteristics of organizations - correct answer every organization has a purpose and is made up of people who are grouped in some fashion. no purpose or goal can be achieved without people making decisions to establish the purpose and performing a variety of activities to make the goal a reality. all org...

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10 pages

Written in 2023/2024

Grade A+

RealGrades

Definition of Management - correct answer The pursuit of organization goals efficiently and effective by integrating the work of people through planning, organizing, leading, and controlling the organizations resources four key management responsibilities - correct answer planning, organizing, leading, and controlling (the organizations resources) The concept of organizational performance including efficiency and effectiveness...

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28 pages

Written in 2023/2024

Grade A+

RealGrades

Planning Organizing Leading Controlling - correct answer What are the four 'Management Functions'? Conceptual - Abstract thinking, seeing whole picture, predict future Human - Interpersonal, social skills Technical - Machines, equipment, design products, market products - correct answer What are the three categories of skill? 1) Ineffective Communication Skills 2) Poor Work Relationships 3) Person-Job Mismatch...

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7 pages

Written in 2023/2024

Grade A+

RealGrades

Business - correct answer Any activity that seeks to provide goods and services to others while operating at a profit Profit - correct answer The amount a business earns above and beyond what it spends for salaries and other expenses. Entreprenuer - correct answer A person who risks time and money to start and manage a business Revenue - correct answer The tota...

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26 pages

Written in 2023/2024

Grade A+

RealGrades

Companies that seek to pursue a cost leadership strategy will most likely make organizational design decisions that emphasize - flexibility. - creativity. - operational efficiency. - speed. - correct answer operational efficiency. An advantage of the bureaucratic approach to organizational control is that it - elicits commitment. - can withstand high turnover. - can easily adapt to the environment. - encourages employees to be self-regulating. - cor...

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15 pages

Written in 2023/2024

Grade A+

RealGrades

management - correct answer getting work done through others efficiency - correct answer getting work done with a minimum of effort, expense, or waste effectiveness - correct answer accomplishing tasks that help fulfill organizational objectives such as customer service and satisfaction planning - correct answer the process of determining the organization's de...

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9 pages

Written in 2023/2024

Grade A+

RealGrades

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 ...

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39 pages

Written in 2023/2024

Grade A+

RealGrades

MGMT 3000 CH. 2 Final Study Guide Questions 2024. Peter Drucker is credited with providing the first modern handbook on the subject of ______. sales production finance management - ANSWER D Select the two overarching perspectives about management: A.historical B.classical C.quantitative D.behavioral E.contemporary - ANSWER A,E What are the two branches of the classical viewpoint of management? A.behavioral B.administrative C.scientific D. contingency - ANSWER B,C Sci...

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27 pages

Written in 2023/2024

Grade A+

ROSEGRADES

MGMT CHAPTER 5 PREDICTION QUESTIONS 2024. social obligation is the obligation of a business to meet its _________. A) social and technological responsibilities B) economic and social responsibilities C) technological and economic responsibilities D) economic and legal responsibilities - ANSWER d) economic and legal responsibilities the ______ view of social responsibility holds that management's only social responsibility is to maximize profits. A) socioeconomic B) classical ...

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16 pages

Written in 2023/2024

Grade A+

ROSEGRADES

MGMT CORRECTLY ANSWERED QUESTIONS 2024. Management - ANSWER is the process of coordinating people and other resources to achieve the goals of an organization. Management is not a step-by-step procedure that can be carefully mapped out and calendared, it is a __________ with a feedback loop that represents flow. - ANSWER process Planning is an essential part of managing an enterprise. A(n)____________ plan is developed as a guide during the planning process for major policy setting and...

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3 pages

Written in 2023/2024

Grade A+

ROSEGRADES