MGT 300 Exam 1 ASU Neck
1. Management: Process of working with people and distributing an organization's
resources to achieve goals efficiently, effectively
2. What are the 4 functions of management?:
-Planning
-Organization
-Leading
-Controlling
3. 4 functions of management- Planning:: Determine long-term missions and
goals and business plan to ahcieve goals
4. 4 functions of management- Organization:: Allocation of resources, what
needs to be done for long-term goals
-orchestrating people actions resources decisions to achieve goals
5. 4 functions of management- Leading: Leading and motivating people for goal
achievement
6. 4 functions of management- Controlling: Measuring how close we are to
achieving goal and mission
-monitoring activities, measuring results and comparing them w goals
7. What does O, L, and C for 4 functions of management go back to?: Mission
and long-term goals
8. Trader Joe's Case- 4 functions of management
Planning, organization, leading, controlling:
-Planning- Low costs, unique products, value
-Organization- non-prim real estate, limited narrow product, no advertising, straight
from supplier, organizational culture
-Leading- Hire for culture, hire managers within and high pay, lowest employee
turnover
, MGT 300 Exam 1 ASU Neck
-Controlling- Sophisticated system for what sells and what doesn't
9. Dr. Neck recently showed a clip from ShawShank Redemption to illustrate
what?: D. Application of 4 functions of management
10. Cross Fit Case - 4 functions of Management
Planning, organization, leading, controlling:
-Planning- Easy access to create gym w low capital, viral and social media does
marketing for you, Mission is to make fitness accessible to everyone
-Organization- Very low control over boxes, the box itself, social media free
-Leading- Innovative, empowering
-Controlling- Lawyers, aggressive in-store opening (glassman sells well)
11. What video did we watch on fruit for 4 functions of management?: Bananas
and fungi
12. Strategic Management-: Process involving managers from all parts of the
organization of formulating and implementing strategies to accomplish LONG
TERM goals and sustain competitive advantage
13. What's are the letters for strategic management process?: DEFINE
14. Strategic Management Process-: -DEFINE missions and goals
-EVALUATE situation (what they do well)
-FORMULATE plan after mission review
-IMPLEMENT plan
-NOW (cant wait to implement plan)
-EVALUATE performance
15. In class, we played tic tac toe. What was the purpose of this?: D. Application
of define model
, MGT 300 Exam 1 ASU Neck
16. When we studied strategic management, what videos did we watch?:
Amazon and National Audio Company
17. For Amazon, complete the strategic management process (DEFINE):
DEFINE MISSION- sell everything to everyone
EVALUATE SITUATION-
FORMULATE PLAN- sell everything to everyone
IMPLEMENT PLAN- technology here to stay
NOW-
EVALUATE PERFORMANCE- prime members, stock prices
18. Compelte the strategic management process for National Audio Company
(DEFINE): DEFINE MISSION- Be the last cassette manufacturer
EVALUATE SITUATION- recycling old parts, controls supply chain, networking
FORMULATE PLAN- buying everything out, be the last manufacturer
IMPLEMENT PLAN-
NOW-
EVALUATE PERFORMANCE-
19. What process can you use to look at internal and external for a company?:
SWOT
SW- internal
OT- external
20. What does SWOT stand for? (internal and external): S/W- Strengths,
weaknesses (internal)
O/T- Opportunities, threats (external)
21. What company did we look at for SWOT?: Tabasco Company
22. Perform SWOT for Tabasco Company: S- trademark, brand, many
consumers, quality standards, varieties
W- family owned, location, succession plan, cant expand, seed disease, no
advertising
O- Rivals (theyll hook em), new varieties, market growing, sponsorship, partnering
T- hurricanes, rirvals
1. Management: Process of working with people and distributing an organization's
resources to achieve goals efficiently, effectively
2. What are the 4 functions of management?:
-Planning
-Organization
-Leading
-Controlling
3. 4 functions of management- Planning:: Determine long-term missions and
goals and business plan to ahcieve goals
4. 4 functions of management- Organization:: Allocation of resources, what
needs to be done for long-term goals
-orchestrating people actions resources decisions to achieve goals
5. 4 functions of management- Leading: Leading and motivating people for goal
achievement
6. 4 functions of management- Controlling: Measuring how close we are to
achieving goal and mission
-monitoring activities, measuring results and comparing them w goals
7. What does O, L, and C for 4 functions of management go back to?: Mission
and long-term goals
8. Trader Joe's Case- 4 functions of management
Planning, organization, leading, controlling:
-Planning- Low costs, unique products, value
-Organization- non-prim real estate, limited narrow product, no advertising, straight
from supplier, organizational culture
-Leading- Hire for culture, hire managers within and high pay, lowest employee
turnover
, MGT 300 Exam 1 ASU Neck
-Controlling- Sophisticated system for what sells and what doesn't
9. Dr. Neck recently showed a clip from ShawShank Redemption to illustrate
what?: D. Application of 4 functions of management
10. Cross Fit Case - 4 functions of Management
Planning, organization, leading, controlling:
-Planning- Easy access to create gym w low capital, viral and social media does
marketing for you, Mission is to make fitness accessible to everyone
-Organization- Very low control over boxes, the box itself, social media free
-Leading- Innovative, empowering
-Controlling- Lawyers, aggressive in-store opening (glassman sells well)
11. What video did we watch on fruit for 4 functions of management?: Bananas
and fungi
12. Strategic Management-: Process involving managers from all parts of the
organization of formulating and implementing strategies to accomplish LONG
TERM goals and sustain competitive advantage
13. What's are the letters for strategic management process?: DEFINE
14. Strategic Management Process-: -DEFINE missions and goals
-EVALUATE situation (what they do well)
-FORMULATE plan after mission review
-IMPLEMENT plan
-NOW (cant wait to implement plan)
-EVALUATE performance
15. In class, we played tic tac toe. What was the purpose of this?: D. Application
of define model
, MGT 300 Exam 1 ASU Neck
16. When we studied strategic management, what videos did we watch?:
Amazon and National Audio Company
17. For Amazon, complete the strategic management process (DEFINE):
DEFINE MISSION- sell everything to everyone
EVALUATE SITUATION-
FORMULATE PLAN- sell everything to everyone
IMPLEMENT PLAN- technology here to stay
NOW-
EVALUATE PERFORMANCE- prime members, stock prices
18. Compelte the strategic management process for National Audio Company
(DEFINE): DEFINE MISSION- Be the last cassette manufacturer
EVALUATE SITUATION- recycling old parts, controls supply chain, networking
FORMULATE PLAN- buying everything out, be the last manufacturer
IMPLEMENT PLAN-
NOW-
EVALUATE PERFORMANCE-
19. What process can you use to look at internal and external for a company?:
SWOT
SW- internal
OT- external
20. What does SWOT stand for? (internal and external): S/W- Strengths,
weaknesses (internal)
O/T- Opportunities, threats (external)
21. What company did we look at for SWOT?: Tabasco Company
22. Perform SWOT for Tabasco Company: S- trademark, brand, many
consumers, quality standards, varieties
W- family owned, location, succession plan, cant expand, seed disease, no
advertising
O- Rivals (theyll hook em), new varieties, market growing, sponsorship, partnering
T- hurricanes, rirvals
