BUS208: PRINCIPLES OF
MANAGEMENT - SAYLOR
DIRECT CREDIT FINAL EXAM
What is manager primary challenge? - ANSWERS-primary challenge
is to solve problems creatively,
What is Principles of Management? - ANSWERS-means by which
you actually manage, that is, get things done through others—
individually, in groups, or in organizations.
What do P-O-L-C stand for? - ANSWERS-P-O-L-C, planning,
organizing, leading, control
The fundamental notion of principles of management was developed
by - ANSWERS-Henri Fayol
Strategic Management - ANSWERS-is the body of knowledge that
answers questions about the development and implementation of good
strategies.
strategy - ANSWERS-is the central, integrated, externally-oriented
concept of how an organization will achieve its objectives.
,environmental scanning - ANSWERS-means that planners must be
aware of the critical contingencies facing their organization in terms
of economic conditions, their competitors, and their customers
tactical planning - ANSWERS-is intermediate-range (one to three
years) planning that is designed to develop relatively concrete and
specific means to implement the strategic plan.
Strategy Planning - ANSWERS-involves analyzing competitive
opportunities and threats, as well as the strengths and weaknesses of
the organization, and then determining how to position the
organization to compete effectively in their environment.
operational planning - ANSWERS-generally assumes the existence of
organization-wide or subunit goals and objectives and specifies ways
to achieve them. Operational planning is short-range (less than a year)
organizational design - ANSWERS-Decisions made about the
structure of an organization
controlling - ANSWERS-involves ensuring that performance does not
deviate from standards.
three steps of controlling - ANSWERS-(1) establishing performance
standards, (2) comparing actual performance against standards, and
(3) taking corrective action when necessary.
, Triple Bottom Line - ANSWERS-gaining so much attention in the
business press
self-enhancement bias - ANSWERS-The tendency to overestimate our
performance and capabilities and to see ourselves in a more positive
light than others see us.
self-effacement bias - ANSWERS-The tendency to underestimate our
performance and capabilities, and to see events in a way that puts
ourselves in a more negative light.
false consensus error - ANSWERS-How we as human beings
overestimate how similar we are to other people.
Self-fulfilling prophecy - ANSWERS-This happens when an
established stereotype causes one to behave in a certain way, which
leads the other party to behave in a way that confirms the stereotype.
selective perception - ANSWERS-means that we pay selective
attention to parts of the environment while ignoring other parts
turnover - ANSWERS-harmful consequences, such as poor customer
service and poor company-wide performance. When employees leave,
their jobs still need to be performed by someone, so companies spend
time recruiting, hiring, and training new employees, all the while
suffering from lower productivity. Yet, not all turnover is bad.
MANAGEMENT - SAYLOR
DIRECT CREDIT FINAL EXAM
What is manager primary challenge? - ANSWERS-primary challenge
is to solve problems creatively,
What is Principles of Management? - ANSWERS-means by which
you actually manage, that is, get things done through others—
individually, in groups, or in organizations.
What do P-O-L-C stand for? - ANSWERS-P-O-L-C, planning,
organizing, leading, control
The fundamental notion of principles of management was developed
by - ANSWERS-Henri Fayol
Strategic Management - ANSWERS-is the body of knowledge that
answers questions about the development and implementation of good
strategies.
strategy - ANSWERS-is the central, integrated, externally-oriented
concept of how an organization will achieve its objectives.
,environmental scanning - ANSWERS-means that planners must be
aware of the critical contingencies facing their organization in terms
of economic conditions, their competitors, and their customers
tactical planning - ANSWERS-is intermediate-range (one to three
years) planning that is designed to develop relatively concrete and
specific means to implement the strategic plan.
Strategy Planning - ANSWERS-involves analyzing competitive
opportunities and threats, as well as the strengths and weaknesses of
the organization, and then determining how to position the
organization to compete effectively in their environment.
operational planning - ANSWERS-generally assumes the existence of
organization-wide or subunit goals and objectives and specifies ways
to achieve them. Operational planning is short-range (less than a year)
organizational design - ANSWERS-Decisions made about the
structure of an organization
controlling - ANSWERS-involves ensuring that performance does not
deviate from standards.
three steps of controlling - ANSWERS-(1) establishing performance
standards, (2) comparing actual performance against standards, and
(3) taking corrective action when necessary.
, Triple Bottom Line - ANSWERS-gaining so much attention in the
business press
self-enhancement bias - ANSWERS-The tendency to overestimate our
performance and capabilities and to see ourselves in a more positive
light than others see us.
self-effacement bias - ANSWERS-The tendency to underestimate our
performance and capabilities, and to see events in a way that puts
ourselves in a more negative light.
false consensus error - ANSWERS-How we as human beings
overestimate how similar we are to other people.
Self-fulfilling prophecy - ANSWERS-This happens when an
established stereotype causes one to behave in a certain way, which
leads the other party to behave in a way that confirms the stereotype.
selective perception - ANSWERS-means that we pay selective
attention to parts of the environment while ignoring other parts
turnover - ANSWERS-harmful consequences, such as poor customer
service and poor company-wide performance. When employees leave,
their jobs still need to be performed by someone, so companies spend
time recruiting, hiring, and training new employees, all the while
suffering from lower productivity. Yet, not all turnover is bad.
