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MGMT Exam #1 > Course Introduction > Flashcards

Course Introduction Flashcards

1
Q

Managerial Thinking (4 parts)

A

Goal Planning
Structure Organizing
Engagement Leadership
Metrics Control

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2
Q

The MGMT Process (four functions of management)

A

Planning
Organizing
Leading
Controlling

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3
Q

Corporate Case Study of Management Process

A

Diagon Alley

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4
Q

Why Take a Class in Management (6)

A

Foundational Course
Required at Smeal
Recruiter will Expect you can talk abt it
First job you’ll work for a manager
Do well on the job you’ll soon be a manager of
Open your own business (you’ll need all the skills)

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5
Q

4 languages of business (tfpc)

A

Accounting (technical language)
A business major (functional language)
Management (people and org. Language)
Business info/literacy (conversational language)

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6
Q

Smeal Honor Code (3)

A

We aspire to high ethical standards
We will hold each other accountable
We will not engage in any improper academic or professional actions

Today and Tomorrow

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7
Q

EAP (expectations of you)

A

Excellent Performance
Academic Integrity
Professional Behavior

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8
Q

Fortune 500 means

A

Largest 500 companies in the U.S. by total revenue

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9
Q

Global 500 means

A

Largest 500 companies in the world by total revenue (converted into dollars($))

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10
Q

1 fortune and global 500 company

A

Walmart

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11
Q

2 Fortune 500 company

A

Warren Buffet

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12
Q

So you think you can dance and manage: skills needed

A

Technical
Leadership
Business

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13
Q

What is a business model?

A

Create
Deliver
Capture Value

It’s always changing

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14
Q

Business Model Applied

A

Music:
physical to digital
owning to streaming service

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15
Q

B2B

A

Business to Business

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16
Q

B2C

A

Business to Consumer

17
Q

Hybrid

A

Both B2B and B2C

18
Q

Example of B2B company

A

General Motors (sell to dealerships who are B2C)

19
Q

Example of hybrid

A

Apple (B2B/B2C)

20
Q

iTunes specifically uses what business model

A

B2C

21
Q

Two examples of businesses that primarily use B2C model

A

Amazon and Walmart

B2B is their secondary

22
Q

If PepsiCo is #22 on the Fortune 500 list. Which below BEST characterizes what this means?

A

You’ll find PepsiCo ranked as #22 in total revenue in the U.S.

23
Q

You are a new business unit manager for Apple. You lead the Apple Music streaming service to individuals. What is the primary Business Mod for this endeavor?

A

A focused business to consumer model

24
Q

Football exercise was an example of

A

Processes of Management

MGMT Exam #1 (8 decks)

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