GMS 200 - Midterm Exam Guide Questions With 100% Correct Answers 2024

GMS 200 - Midterm Exam Guide Questions With 100% Correct Answers 2024 Ethics - answercode of moral principles that set standards of conduct of what is good and right Organizations as open system - answercomposed or interrelated parts that function together Line Manager - answerResponsible for work activities that directly affect organization's outputs Staff Manager - answerhave technical expertise to advise/ support line workers Functional Manager - answerresponsible for a single area of activity General Managers - answerresponsible for activities covering many functional areas Adminstrators - answermanagers who work in public/ non-profit organizations General Environment - answerconsists of all the background conditions in the external environment of an organization Economic Conditions - answerthe economic conditions of the general environment details the health of the economy in terms of inflation, income levels, GDP, unemployment, and job out- look. Legal-Political Conditions - answerby staying abreast of the legal-political conditions of the general environment, managers are aware of the prevailing philosophy and objectives of the political party or parties running the government, as well as laws and government regulations. Internet Censorship - answeris the deliberate blockage and denial of public access to information posted on the Internet Technological Conditions - answerwith the development and availability of new technologies in the general environment, managers need to constantly monitor how these advances affect the work being done by employees. Socio-cultural Conditions - answerchanges in the norms, customs, and social values on such matters as human rights, ethics, gender roles, and life styles, along with environmental trends in education and related social institutions, as well as demographic patterns all will affect how organizations are managed. Specific Environment - answerconsists of all the actual organizations, groups, and persons with whom an organization interacts and conducts business. Stakeholders - answerthe persons, groups, and institutions who are affected by the organization's performance Competitive Advantage - answerrefers to a core competency that clearly sets and organization apart from competitors and gives it an advantage over them in the marketplace Cost - answeroperating with lower costs than one's competitors and thus earning profits with prices that competitors have difficulty matching Quality - answercreating products and services that are demonstrably higher quality for customers than what is being offered by the competition Delivery - answeroutperforming competitors by delivering products and services to customers faster and on-time, while continuing to develop timely new products Flexibility - answeradjusting and tailoring products and services to fit customer needs in ways that are difficult for competitors to match Strategic Positioning - answeroccurs when an organization does different things or the same thing in different ways from its major competitors Environmental Uncertainty - answermeans that there is a lack of complete information regarding what exists and what developments may occur in the external environment Planning - answerset performance objectives & deciding how to achieve them Organizing - answerarranging tasks, people & other resources to accomplish the work Leading - answerinspiring people to work hard to achieve high performance Controlling - answermeasuring performance & taking action to ensure desired results Human Skills - answerability to work well in cooperation with other people Technical Skills - answerit is learned through education and then refined through training and experience Scientific Management - answerprincipal object of management should be securing maximum prosperity for employer and employee ( how can things be done more efficiently) Division of Labour - answerspecialization of work Discipline - answerrules that workers follow Unity of Command - answerreport to one boss in an organization