MGMT 325 TEST 1 QUESTIONS WITH
ANSWERS 100% SOLVED
knowledge management - ANSWER finding, unlocking, sharing, and all together
capitalizing on the most precious resources of an organization: peoples
expertise, skills, wisdom, relationships
innovation - ANSWER the introduction of new goods and services. a firm must: 1)
adapt to changes in consumer demands and to new competitors and 2) be ready
with new ways to communicate with customers and deliver the products to
them.
quality - ANSWER the excellence of your product, preventing defects before
they occur, customization of goods and services
service - ANSWER giving customers what they want or need when they want it,
continually meeting the needs of customers to establish mutually beneficial
long-term relationships.
speed - ANSWER fast and timely execution, response, and delivery of results.
cost competitiveness - ANSWER keeping costs low to achieve profits and be
able to offer prices that are attractive to customers.
sustainability - ANSWER minimizing the use of resources, especially those that
are polluting and nonrenewable.
planning - ANSWER systematically making decisions about the goals and
activities that will be pursued.
organizing - ANSWER assembling and coordinating the resources needed to
achieve goals.
leading - ANSWER stimulating people to be high performers.
controlling - ANSWER monitoring performance and making needed changes.
top-level managers - ANSWER senior executives responsible for the overall
management and effectiveness of the organization.
middle-level managers - ANSWER managers located in the middle layers of
organizational hierarchy, reporting to top-level executives.
, frontline managers - ANSWER lower-level managers who supervise the
operational activities of the organization.
roles of management: technical level - ANSWER ability to perform a specialized
task that involves a certain method of process
roles of management: decisional level - ANSWER a managers ability to identify
and resolve problems for the benefit of the organization
roles of management: interpersonal - ANSWER people skills/how well you work
with others
emotional intelligence - ANSWER the skills of understanding yourself, managing
yourself, and dealing effectively with others.
macroenvironment - ANSWER the general environment; includes governments,
economic conditions, and other fundamental factors that generally affect all
organizations.
economy - ANSWER dramatically effects managers' ability to function effectively
and influences their strategic choices. interest and inflation rates affect the
availability and cost of capital, growth opportunities, prices, costs, and
consumer demand for products.
technology - ANSWER advances create new products, advanced production
techniques, and better ways of managing and communicating. as technology
evolves, new industries, markets, and competitive niches develop.
legal and regulations - ANSWER occupational safety health and administration
(OSHA), interstate commerce commission (ICC), federal aviation administration
(FAA), equal employment opportunity commission (EEOC), national labor
relations board (NLRB)
demographics - ANSWER measures of various characteristics of the people who
make up groups or other social units. trends include: growth of the labor force,
increasing edu. and skill levels, immigration, increased numbers of women in
the workforce, increasingly diverse workforce.
social issues - ANSWER trends regarding how people think and behave have
major implications for management of the labor force, corporate social actions,
and strategic decisions about products and markets. ex: family leave, domestic
partner benefits, flexible working hours, and child care assistance.
switching costs - ANSWER fixed costs buyers face if they change suppliers.
ANSWERS 100% SOLVED
knowledge management - ANSWER finding, unlocking, sharing, and all together
capitalizing on the most precious resources of an organization: peoples
expertise, skills, wisdom, relationships
innovation - ANSWER the introduction of new goods and services. a firm must: 1)
adapt to changes in consumer demands and to new competitors and 2) be ready
with new ways to communicate with customers and deliver the products to
them.
quality - ANSWER the excellence of your product, preventing defects before
they occur, customization of goods and services
service - ANSWER giving customers what they want or need when they want it,
continually meeting the needs of customers to establish mutually beneficial
long-term relationships.
speed - ANSWER fast and timely execution, response, and delivery of results.
cost competitiveness - ANSWER keeping costs low to achieve profits and be
able to offer prices that are attractive to customers.
sustainability - ANSWER minimizing the use of resources, especially those that
are polluting and nonrenewable.
planning - ANSWER systematically making decisions about the goals and
activities that will be pursued.
organizing - ANSWER assembling and coordinating the resources needed to
achieve goals.
leading - ANSWER stimulating people to be high performers.
controlling - ANSWER monitoring performance and making needed changes.
top-level managers - ANSWER senior executives responsible for the overall
management and effectiveness of the organization.
middle-level managers - ANSWER managers located in the middle layers of
organizational hierarchy, reporting to top-level executives.
, frontline managers - ANSWER lower-level managers who supervise the
operational activities of the organization.
roles of management: technical level - ANSWER ability to perform a specialized
task that involves a certain method of process
roles of management: decisional level - ANSWER a managers ability to identify
and resolve problems for the benefit of the organization
roles of management: interpersonal - ANSWER people skills/how well you work
with others
emotional intelligence - ANSWER the skills of understanding yourself, managing
yourself, and dealing effectively with others.
macroenvironment - ANSWER the general environment; includes governments,
economic conditions, and other fundamental factors that generally affect all
organizations.
economy - ANSWER dramatically effects managers' ability to function effectively
and influences their strategic choices. interest and inflation rates affect the
availability and cost of capital, growth opportunities, prices, costs, and
consumer demand for products.
technology - ANSWER advances create new products, advanced production
techniques, and better ways of managing and communicating. as technology
evolves, new industries, markets, and competitive niches develop.
legal and regulations - ANSWER occupational safety health and administration
(OSHA), interstate commerce commission (ICC), federal aviation administration
(FAA), equal employment opportunity commission (EEOC), national labor
relations board (NLRB)
demographics - ANSWER measures of various characteristics of the people who
make up groups or other social units. trends include: growth of the labor force,
increasing edu. and skill levels, immigration, increased numbers of women in
the workforce, increasingly diverse workforce.
social issues - ANSWER trends regarding how people think and behave have
major implications for management of the labor force, corporate social actions,
and strategic decisions about products and markets. ex: family leave, domestic
partner benefits, flexible working hours, and child care assistance.
switching costs - ANSWER fixed costs buyers face if they change suppliers.
