NR 228 EXAM 2 STUDY GUIDE CHAPTER 5 to 11

NR 228 Exam 2 Study Guide Chapter 5 to 11 Exam 2 Study Guide Exam 2 covers Chapters 5,10 and 11. This study guide is meant to highlight important information in the chapters; it is NOT meant to be the only thing you study. I recommend reading the chapters, looking at LearnSmart modules, reviewing your notes and making sure you can answer the questions on this guide. Chapter 5: Strategic Planning and Decision-Making What is planning and what are the steps to strategic planning? 1) Establish a Mission, Vision and goals 2) Analyze External opportunities and threats 3) Analyze internal strengths and weaknesses 4) Conduct a SWOT analysis and formulate Strategy What’s a situational analysis? A process planners use, within time and resource constraints, to gather, interpret and summarize all information relevant to the planning issue under consideration. What is a contingency plan? Scenario analysis? A strategy? How do different plans correspond to different levels of management? Strategy- a pattern of actions and resource allocations designed to achieve the organizations plans Scenario analysis- a narrative that describes a particular set of future condition a different contingency plan is attached to each scenario Contingency plan- a alternative plan in case something doesn’t work What is strategic management? A process that involves managers from all parts of the organization tin the formulation and implementation of strategic goals and strategies What is a SMART goal? is defined as one that is specific, measurable, achievable, results-focused, and time- bound What is a mission statement? A strategic vision? An organizations basic purpose and scope of operation The long term direction and strategic intent What is a SWOT analysis and what are the components of it? A comparison of strengths, weaknesses opportunites and threats that help executives formulate strategy Benchmarking? The process of assessing how well one companys basic functions and skills compare with those of another company or set of companies Core competencies? What are concentration, vertical integration, related vs. unrelated diversification strategies? Low cost and differentiation strategies? How does the BCG matrix work? Chapter 10: Leadership What is the leadership process? What’s a vision statement? How are leaders different than managers? What is supervisory vs. strategic management? What are the 5 different types of power? What is the trait approach to leadership? What is the behavior approach to leadership and what are task performance vs. group maintenance behaviors? LMX? Grid training? What is autocratic, democratic and laissez faire leadership? What are situational/contingency approaches to leadership? What is Vroom’s model, Fiedler’s contingency model, Hersey and Blanchard’s model, and Path Goal theory? How are these theories different from each other? What are substitutes for leadership and why are they important? What are charismatic leaders, transformational vs. transactive leaders? What is authentic leadership vs. pseudo-transformational leadership? What is a servant leader, bridge leader, shared leadership and lateral leadership? Chapter 11: Motivation What is motivation? Why is it important for managers? What is goal-setting theory? How is this similar to SMART goals? What are stretch goals and what are the different types of stretch goals? What is the law of effect/classic conditioning? Positive reinforcement? Negative? Punishment? Extinction? What is expectancy theory? Expectancy-to-performance? Instrumentality? Valence? What are interventions in expectancy theory (things you might take away from it as a manager)? What is Maslow’s need hierarchy and how does it work? How is it different than Alderfer’s ERG theory or McClelland’s theory? What are intrinsic/extrinsic rewards? What is Herzberg’s hygience/motivator theory? Are hygiene factors motivating? What is equity theory? If you perceive an inequity, how can you correct it? What is procedural justice?