UMBC MGMT 210 Exam 1 Review 2026 (300+ Questions) – Principles of Management – Functions of Management, Organizational Culture, Globalization, Ethics & Entrepreneurship Q&A

This document contains over 300 fully answered exam questions for UMBC MGMT 210 Exam 1 Review 2026, covering foundational management principles including the four functions of management (planning, organizing, leading, controlling), managerial skill sets (technical, human, conceptual), classical and humanistic management perspectives, organizational culture, globalization, ethics, corporate social responsibility, and entrepreneurship. The material defines management as the attainment of organizational goals in an effective and efficient manner and systematically reviews major theories such as Scientific Management, Bureaucratic Organizations, Administrative Principles, Behavioral Science, and the Human Relations Movement. The study guide provides in-depth coverage of organizational culture, including surface versus invisible cultural levels, symbols, stories, slogans, ceremonies, and four corporate culture types: adaptability, achievement, involvement, and consistency. It explains internal versus external environments, task versus general environments (international, natural, technological, sociocultural, economic, legal-political), and globalization concepts such as multinational corporations (MNCs), ethnocentric/polycentric/geocentric orientations, exporting, outsourcing (offshoring), partnerships, political risk, legal risk, and Hofstede’s value dimensions (power distance, uncertainty avoidance, individualism vs collectivism, masculinity vs femininity, long-term vs short-term orientation). Extensive ethics content includes the distinction between ethics and morality, codified law versus free choice, ethical dilemmas, stakeholder theory, corporate social responsibility (CSR), sustainability, and ethical decision-making frameworks (utilitarian, individualism, moral-rights, justice, practical). It outlines five steps for analyzing ethical dilemmas and differentiates distributive, procedural, and compensatory justice. The guide also reviews managerial responsibility in creating ethical climates through integrity, fairness, communication, and enforcement of standards. Entrepreneurship and small business sections address traits of successful entrepreneurs (autonomy, high energy, need to achieve, internal locus of control), categories of small business owners (idealists, optimizers, hard workers, jugglers, sustainers), legal structures (sole proprietorship, partnership, corporation), financing methods (debt financing, equity financing, venture capital, angel investors, crowdfunding, SBA loans), seed capital, business models, and the eight key elements of a business model (value proposition, revenue model, market opportunity, competitive environment, competitive advantage, market strategy, organizational development, management team). This document is particularly relevant for: UMBC MGMT 210 students preparing for Exam 1 Undergraduate business administration students Management majors reviewing foundational theories Students preparing for midterm assessments in Principles of Management Business minors studying organizational behavior and global management It is suitable for courses such as: Principles of Management Introduction to Business Organizational Behavior Global Business Environment Business Ethics and Corporate Responsibility Entrepreneurship and Small Business Management Keywords: UMBC MGMT 210 exam 1 2026, four functions of management planning organizing leading controlling, classical management perspective scientific management, human relations movement Hawthorne effect, managerial skills technical human conceptual, organizational culture adaptability achievement involvement consistency, task vs general environment dimensions, multinational corporation ethnocentric polycentric geocentric, exporting vs offshoring global outsourcing, Hofstede value dimensions power distance uncertainty avoidance, ethics vs morality codified law free choice, utilitarian moral rights justice approach, corporate social responsibility sustainability, stakeholder theory definition, entrepreneurship traits internal locus of control, sole proprietorship partnership corporation differences, equity vs debt financing venture capital angel investors