10/8/25, 6:49 PM MGMT 3000 Exam 1 (Lyons, UGA) | Quizlet
Name: Score:
20 Multiple choice questions
Definition 1 of 20
A group of individuals elected by shareholders and charged with overseeing the general
direction of the firm.
board of directors
employees
owners
managers
Definition 2 of 20
A strategy that aims to provide a product or service at as low a price as possible to a broad
audience.
kantianism
cost reduction
cost leadership
cost differentiation
Definition 3 of 20
The act of working with and through a group of people to accomplish a desired goal or
objected in an efficient manner
Operations
Labor
Mangement
Globalization
https://quizlet.com/test/mgmt-3000-exam-1-lyons-uga-533066891 1/7
, 10/8/25, 6:49 PM MGMT 3000 Exam 1 (Lyons, UGA) | Quizlet
Definition 4 of 20
The deeply rooted system of principles that guide individuals in their everyday choices and
interactions.
demographics
social values
virtue ethics
personal values
Definition 5 of 20
Any type of information used in conducting business that is not commonly known by others. It
often provides a strategic advantage for a company over its competitors.
privacy
trade secret
patent
copyright
Definition 6 of 20
the capability to identify and react to changes in the external environment and to mobilize
internal resources to deal with those changes
Quality Control
Strategic Competitiveness
Strategic Flexibility
Differentiation
https://quizlet.com/test/mgmt-3000-exam-1-lyons-uga-533066891 2/7
Name: Score:
20 Multiple choice questions
Definition 1 of 20
A group of individuals elected by shareholders and charged with overseeing the general
direction of the firm.
board of directors
employees
owners
managers
Definition 2 of 20
A strategy that aims to provide a product or service at as low a price as possible to a broad
audience.
kantianism
cost reduction
cost leadership
cost differentiation
Definition 3 of 20
The act of working with and through a group of people to accomplish a desired goal or
objected in an efficient manner
Operations
Labor
Mangement
Globalization
https://quizlet.com/test/mgmt-3000-exam-1-lyons-uga-533066891 1/7
, 10/8/25, 6:49 PM MGMT 3000 Exam 1 (Lyons, UGA) | Quizlet
Definition 4 of 20
The deeply rooted system of principles that guide individuals in their everyday choices and
interactions.
demographics
social values
virtue ethics
personal values
Definition 5 of 20
Any type of information used in conducting business that is not commonly known by others. It
often provides a strategic advantage for a company over its competitors.
privacy
trade secret
patent
copyright
Definition 6 of 20
the capability to identify and react to changes in the external environment and to mobilize
internal resources to deal with those changes
Quality Control
Strategic Competitiveness
Strategic Flexibility
Differentiation
https://quizlet.com/test/mgmt-3000-exam-1-lyons-uga-533066891 2/7
