Bus. Mang. Ch 1

Question 0

Efficiency

Answer 0

Means to use resources- people, money, raw materials, and the like – wisely and cost efficiently.

Question 1

Management

Answer 1

The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organizations resources.

Question 2

Effective

Answer 2

Means to achieve results, to make the right decisions, and to successfully carry them out so that they achieve the organizations goals.

Question 3

Competitive advantage

Answer 3

The ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them.

Question 4

Innovation

Answer 4

Finding ways to deliver new or better goods or services.

Question 5

E-commerce Or electronic commerce

Answer 5

The buying and selling of goods or services over computer networks.

Question 6

E-business

Answer 6

Using the Internet to facilitate every aspect of running a business.

Question 7

Telecommute

Answer 7

Work from home or remote locations using a variety of information technologies.

Question 8

Knowledge management

Answer 8

The implementing of systems and practices to increase the sharing of knowledge and information throughout an organization.

Question 9

Sustainability

Answer 9

Economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Question 10

The four management functions

Answer 10

Planning, organizing, leading, and controlling. POLC

Question 11

Planning

Answer 11

Setting goals and deciding how to achieve them.

Question 12

Organizing

Answer 12

Arranging tasks, people, and other resources to accomplish work.

Question 13

Leading

Answer 13

Motivating, directing, and otherwise influencing people to work hard to achieve the organizations goals.

Question 14

Controlling

Answer 14

Monitoring performance, comparing it with goals, and taking corrective action as needed.

Question 15

Top managers

Answer 15

Make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it.

Question 16

Middle managers

Answer 16

Implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first-line managers below them.

Question 17

First-line managers

Answer 17

Make short term operating decisions, direct in the daily task of nonmanagerial personnel.

Question 18

Functional manager

Answer 18

Responsible for just one organizational activity.

Question 19

General manager

Answer 19

Responsible for several organizational activities.

Question 20

Interpersonal roles

Answer 20

Managers interact with people inside and outside their work units.

Question 21

Informational roles

Answer 21

Monitor, Disseminator, and spokesperson – managers receive and communicate information with other people inside and outside organization

Question 22

Entrepreneurship

Answer 22

The process of taking risks to try to create a new enterprise.

Question 23

Entrepreneur

Answer 23

Someone who sees a new opportunity for a product or service and launches a business to try to realize it.

Question 24

Intrapreneur

Answer 24

Someone who works inside an existing organization who sees an opportunity for a product or service and mobilizes the organizations resources to try to realize it.

Question 25

Internal locus of control

Answer 25

The belief that you control your own destiny.

Question 26

Technical skills

Answer 26

Consist of the job specific knowledge needed to perform well in a specialized field.

Question 27

Conceptual skills

Answer 27

Consist of the ability to think analytically, to visualize an organization as a whole, and understand how the parts work together.

Question 28

Human skills

Answer 28

Consists of the ability to work well in cooperation with other people to get things done.