GMS 200 – MIDTERM VERIFIED STUDY GUIDE
Intellectual capital - Answers - Collective brainpower of a workforce that can be used to
create value
Resource inputs - Answers - People, money, materials, technology, information
Transformation process - Answers - Work activities turn resources into outputs
Product outputs - Answers - Finished goods and services
Organizations - Answers - People working together to achieve a common purpose
Value creation - Answers - When an organizations operations add value to the original
cost of resource inputs
Specific (task) environment - Answers - Organizations, groups, people that
organizations interact and conduct business with
Examples of specific (task) environment stakeholders - Answers - Customers, suppliers,
competitors, regulators, investors, owners
Competitive advantage - Answers - A core competency that sets an organization apart
from competitors and gives it an advantage over them
Examples of competitive advantages - Answers - Cost efficiency, higher quality, better
delivery, greater flexibility
Line managers - Answers - Responsible for work activities that directly affect
organizations outputs
Staff managers - Answers - Use technical expertise to advise and support the efforts of
line workers
Functional managers - Answers - Responsible for a single area of activity
General managers - Answers - Responsible for more complex units that include many
functional areas
Administators - Answers - Work in public and non profit organizations
Accountibility - Answers - Requirement of one person to answer to a higher authority for
relevant performance results
, Quality of work life (QWL) - Answers - An indicator of overall quality of human
experiences in the workplace
Quality of work life examples - Answers - Fair pay, safe working conditions,
opportunities to learn and use new skills, room to grow and progress in a career,
protection of individual rights, pride in work and the organization
Four functions of management - Answers - Planning, organizing, leading, controlling
Planning - Answers - Setting performance objectives and deciding how to achieve them
Organizing - Answers - Arranging tasks, people, and other resources to accomplish the
work
Controlling - Answers - Measuring performance and taking action to ensure desired
results
Leading - Answers - Inspiring people to work hard and achieve high performance
Informational roles - Answers - How a manager exchanges and processes information
Interpersonal roles - Answers - How a manager interacts with other people
Decisional roles - Answers - How a manager uses information in decision making
Technical skill - Answers - Ability to apply expertise to perform particular tasks
Human/Interpersonal skill - Answers - Ability to work well with others
Emotional intellegence - Answers - Ability to manage ourselves and relationships
effectively
Conceptual skill - Answers - Ability to think critically and analytically to solve complex
problems
Knowledge worker - Answers - Someone whose value to the organization rests with
intellect not physical capabilities
Intellectual captial - Answers - Shared knowledge of a workforce that can be used to
create wealth
Data - Answers - Raw facts and observations
Information - Answers - Data made useful for decision making
Intellectual capital - Answers - Collective brainpower of a workforce that can be used to
create value
Resource inputs - Answers - People, money, materials, technology, information
Transformation process - Answers - Work activities turn resources into outputs
Product outputs - Answers - Finished goods and services
Organizations - Answers - People working together to achieve a common purpose
Value creation - Answers - When an organizations operations add value to the original
cost of resource inputs
Specific (task) environment - Answers - Organizations, groups, people that
organizations interact and conduct business with
Examples of specific (task) environment stakeholders - Answers - Customers, suppliers,
competitors, regulators, investors, owners
Competitive advantage - Answers - A core competency that sets an organization apart
from competitors and gives it an advantage over them
Examples of competitive advantages - Answers - Cost efficiency, higher quality, better
delivery, greater flexibility
Line managers - Answers - Responsible for work activities that directly affect
organizations outputs
Staff managers - Answers - Use technical expertise to advise and support the efforts of
line workers
Functional managers - Answers - Responsible for a single area of activity
General managers - Answers - Responsible for more complex units that include many
functional areas
Administators - Answers - Work in public and non profit organizations
Accountibility - Answers - Requirement of one person to answer to a higher authority for
relevant performance results
, Quality of work life (QWL) - Answers - An indicator of overall quality of human
experiences in the workplace
Quality of work life examples - Answers - Fair pay, safe working conditions,
opportunities to learn and use new skills, room to grow and progress in a career,
protection of individual rights, pride in work and the organization
Four functions of management - Answers - Planning, organizing, leading, controlling
Planning - Answers - Setting performance objectives and deciding how to achieve them
Organizing - Answers - Arranging tasks, people, and other resources to accomplish the
work
Controlling - Answers - Measuring performance and taking action to ensure desired
results
Leading - Answers - Inspiring people to work hard and achieve high performance
Informational roles - Answers - How a manager exchanges and processes information
Interpersonal roles - Answers - How a manager interacts with other people
Decisional roles - Answers - How a manager uses information in decision making
Technical skill - Answers - Ability to apply expertise to perform particular tasks
Human/Interpersonal skill - Answers - Ability to work well with others
Emotional intellegence - Answers - Ability to manage ourselves and relationships
effectively
Conceptual skill - Answers - Ability to think critically and analytically to solve complex
problems
Knowledge worker - Answers - Someone whose value to the organization rests with
intellect not physical capabilities
Intellectual captial - Answers - Shared knowledge of a workforce that can be used to
create wealth
Data - Answers - Raw facts and observations
Information - Answers - Data made useful for decision making
