GB 370 OLE MISS GENTRY
QUESTIONS & ANSWERS(RATED
A+)
organization - ANSWERpurpose is to achieve something--a group of people in a
structured and coordinated fashion to achieve a set of goals
organizational resources - ANSWERphysical
human
informational
financial
manager - ANSWERsomeone whose primary responsibility is to carry out the
management process--plans, makes decisions, physical, and info resources
10 basic managerial roles--3 categories - ANSWER-interpersonal
-informational
-decisional
interpersonal manager roles - ANSWERfigurehead, leader, liaison
informational manger roles - ANSWERmonitor, disseminator, spokesperson
decisional manager roles - ANSWERentrepreneur, disturbance handler, resource
allocator, negotiator
fundamental management skills - ANSWERtechnical, conceptual, communications,
time management, decision making, diagnostic, interpersonal
the science of management - ANSWERassumes that problems can be approached
by using rational, logical, objective, and systematic ways
the art of management - ANSWERmaking decisions and solving problems using a
blend of intuition, experience, instinct, and personal insights
sources of management skills - ANSWER-sound educational base
-initial job experience
-successful acquisition and utilization of basic management skills
Hawthorne studies - ANSWERwork place lighting effects on productivity example
theory X management example - ANSWER-management by objectives
-evidence based management
-market based
-management science
, theory Y management example - ANSWER-empowerment
-Maslow's Needs
-job enrichment
entrepreneurship - ANSWERthe process of planning, organizing, operating, and
assuming the risk of a business
entrepreneur - ANSWERsomeone who engages in entrepreneurship
small business - ANSWERprivately owned by one individual or a small group and
has sales and assets that are not large enough to influence its environment
Pursuit of opportunity without regard to resources currently controlled: - ANSWER- id
the opportunity
- develop the concept
- determine required resources
- acquire necessary resources
- implement and manage
- harvest the venture
business model canvas (example) - ANSWERinfrastructure-key activities
offering-what value is offered
customers-segments, relationships
finances-costs and revenue
(xerox)
lean startup focus - ANSWERfocus is experimentation and creating a framework to
change strategy
lean startup part 1 - ANSWERthe vision: experiment with the idea...the most basic
premise
MVPs, brand name,
ex) netflix
MVP - ANSWERminimum viable products
lean startup part 2 - ANSWERsteer: do not hypothesize the customer, collect as
much data as possible, experiment
lean startup part 3 - ANSWERaccelerate: if you are not going fast you are going to
get run over and someone will steal the idea
the franchise agreement - ANSWERgoverns the operation of a franchise by the
entrepreneur
franchise advantages - ANSWERreduced financial risk, support from the franchiser
franchise disadvantage - ANSWERstartup fees, limitations of the franchise, loss of
independence
QUESTIONS & ANSWERS(RATED
A+)
organization - ANSWERpurpose is to achieve something--a group of people in a
structured and coordinated fashion to achieve a set of goals
organizational resources - ANSWERphysical
human
informational
financial
manager - ANSWERsomeone whose primary responsibility is to carry out the
management process--plans, makes decisions, physical, and info resources
10 basic managerial roles--3 categories - ANSWER-interpersonal
-informational
-decisional
interpersonal manager roles - ANSWERfigurehead, leader, liaison
informational manger roles - ANSWERmonitor, disseminator, spokesperson
decisional manager roles - ANSWERentrepreneur, disturbance handler, resource
allocator, negotiator
fundamental management skills - ANSWERtechnical, conceptual, communications,
time management, decision making, diagnostic, interpersonal
the science of management - ANSWERassumes that problems can be approached
by using rational, logical, objective, and systematic ways
the art of management - ANSWERmaking decisions and solving problems using a
blend of intuition, experience, instinct, and personal insights
sources of management skills - ANSWER-sound educational base
-initial job experience
-successful acquisition and utilization of basic management skills
Hawthorne studies - ANSWERwork place lighting effects on productivity example
theory X management example - ANSWER-management by objectives
-evidence based management
-market based
-management science
, theory Y management example - ANSWER-empowerment
-Maslow's Needs
-job enrichment
entrepreneurship - ANSWERthe process of planning, organizing, operating, and
assuming the risk of a business
entrepreneur - ANSWERsomeone who engages in entrepreneurship
small business - ANSWERprivately owned by one individual or a small group and
has sales and assets that are not large enough to influence its environment
Pursuit of opportunity without regard to resources currently controlled: - ANSWER- id
the opportunity
- develop the concept
- determine required resources
- acquire necessary resources
- implement and manage
- harvest the venture
business model canvas (example) - ANSWERinfrastructure-key activities
offering-what value is offered
customers-segments, relationships
finances-costs and revenue
(xerox)
lean startup focus - ANSWERfocus is experimentation and creating a framework to
change strategy
lean startup part 1 - ANSWERthe vision: experiment with the idea...the most basic
premise
MVPs, brand name,
ex) netflix
MVP - ANSWERminimum viable products
lean startup part 2 - ANSWERsteer: do not hypothesize the customer, collect as
much data as possible, experiment
lean startup part 3 - ANSWERaccelerate: if you are not going fast you are going to
get run over and someone will steal the idea
the franchise agreement - ANSWERgoverns the operation of a franchise by the
entrepreneur
franchise advantages - ANSWERreduced financial risk, support from the franchiser
franchise disadvantage - ANSWERstartup fees, limitations of the franchise, loss of
independence
