Orgma Skuma Flashcards

1
Q

“Management is a multi-purpose organ
that manages business and manages
managers and manages workers and
work.”

A
  • Peter Drucker
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2
Q

Father of Management

A
  • Peter Drucker
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3
Q

“Is a multi-purpose organ
that manages business and manages
managers and manages workers and
work.” Who said this?

A

Peter Drucker

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4
Q

“Management is to forecast, to plan, to
organize, to command, to coordinate
and control activitites of others.”
Who said this?

A
  • Henri Fayol
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5
Q

Father of principle of management

A
  • Henri Fayol
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6
Q

Father of Modern Management

A
  • Henri Fayol
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7
Q

“___________ is to forecast, to plan, to
organize, to command, to coordinate
and control activitites of others.”

A

Management

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8
Q

“Management is to?.”

A

1) Forecast
2) To plan
3) To Organize
4) To command
5) To coordinate
6) Control activitites of others

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9
Q

“Management is the art of knowing what
you want to do and then seeing that thet
do it in the best and cheaper manner.”
Who said this?

A

Frederick W. Taylor

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10
Q

Father of Scientific Management

A

Frederick W. Taylor

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11
Q

Management is the art of knowing what?

A

what
you want to do and then seeing that the best to
do it, is in the best and cheaper manner

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12
Q

is the art of knowing what
you want to do and then seeing that thet
do it in the best and cheaper manner.”

A

Management

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13
Q

“Management is the art of getting
things done through people.”
Who said this?

A
  • Mary Parker Follett
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14
Q

“______________ is the art of getting
things done through people.”

A

Management

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15
Q

“Management is the art of getting
things done through ____________.”

A

people

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16
Q

is the attainment of organizational goals
effectively and efficiently through
planning, organizing, staffing, directing and
controlling organizational resources.

A

Management

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17
Q

What is the concept of management?

A

Management is the attainment of organizational goals
in an effective and efficient manner through
planning, organizing, staffing, directing and
controlling organizational resources.

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18
Q

Characteristics and Nature of Management?

A

1) Goal Oriented
2) Universal
3) Continuous Process

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19
Q

It is a means to
achieve certain
goals.

A

goal
oriented

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20
Q

An essential element
of every organized

activity

A

universal

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21
Q

Ongoing and
never-ending
process

A

continuous
process

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22
Q

Is a group of people bonded together
with common goals and objectives.

A

Organization

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23
Q

Organization is a group of people bonded together
with?

A

common goals and objectives.

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24
Q

An organization is a group of people bonded together
with common goals and objectives. Typically, it
is formed due to the reason of?

A

human
satisfaction and security.

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25
Q

Characteristics of Organization?

A

1) Coordination
2) Common Goal
3) Division of Labor
4) Command Level

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26
Q

All people in the group
should be harmonized

A

Coordination

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27
Q

Every member as a
common ground

A

Common Goal

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28
Q

Every member has a
role and responsibility

A

Division of Labor

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29
Q

Has hierarchy of people
that leads the members

A

Command Level

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30
Q

The period of 1700 to 1800 emphasizes the industrial revolution and
the factory system highlights the industrial revolution and the
importance of direction as a managerial purpose.

A

Pre-scientific Management
Period (before 1880)

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31
Q

Pre- Scientific Management Period:
The period of ________________ emphasizes the ___________________

A

1700 to 1800, industrial revolution,

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32
Q

Pre-scientific Management
Period (before _____________)

A

1880

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33
Q

Highlights the industrial revolution and the
importance of direction as a managerial purpose.

A

The factory system

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34
Q

the factory system highlights what?

A

the industrial revolution and the
importance of direction as a managerial purpose.

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35
Q

Important contributors of the Pre-scientific Management Period?

A

● Charles Babbage
● James Montgomery
● James Watt
● Charles Dupin

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36
Q

is the earliest thought of
management

A

Classical Theory

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37
Q

Was associated with the ways to manage work and organizations more efficiently.

A

The classical approach

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38
Q

It is known as scientific management.

A

The classical approach

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39
Q

the founders of scientific
management and administrative management.

A

F.W. Taylor and Henry Fayol

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40
Q

The Classical approach falls under?

A

Classical Theory

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41
Q

It uses scientific methods to analyze the most efficient production process in order to increase productivity.

A

scientific management

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42
Q

attempts to find a rational way to design an organization as a whole.

A

administrative management.

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43
Q

It was closely associated with the industrial revolution
and the rise of large- scale enterprise.

A

Classical Period

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44
Q

It attempts to find methods that increase output of
workers.

A

Classical Period

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45
Q

It stresses on formal structure of jobs and work
schedules to satisfy individual and organizational needs.

A

Classical Period

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46
Q

Three main theories in the Classical Period:

A

1) Scientific Management Theory
2) Fayol’s Classical Organisation Theory
3) Weber’s Bureaucracy Theory

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47
Q

Scientific Management Theory
- who founded it?

A

Frederick W. Taylor

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48
Q

It was developed because of the need to increase
productivity and increase worker’s efficiency.

A

Scientific Management Theory

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49
Q

A differential wage rate system was introduced

A

Scientific Management Theory

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50
Q

Fayol’s Classical Organisation Theory
- Who founded it?

A

(Henri Fayol)

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51
Q

It was focused on managing the organization as a whole

A

Fayol’s Classical Organisation Theory

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52
Q

Five functions of management was introduced:

A

(Planning, Organizing, Staffing, Directing, Controlling)

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53
Q

(Planning, Organizing, Staffing, Directing, Controlling) was introduced in what theory?

A

Fayol’s Classical Organisation Theory

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54
Q
  1. The aim is to increase production at the (Taylor or Fayol?
    shop level
A

Taylor (Father of Scientific Management)

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55
Q
  1. The focus is on improving output (Taylor or Fayol?)
    through work simplification and
    standardisation.
A

Taylor (Father of Scientific Management)

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56
Q
  1. The theory studies management from (Taylor or Fayol?)
    bottom to top.
A

Taylor (Father of Scientific Management)

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57
Q
  1. It is based on scientific observation and (Taylor or Fayol?)
    measurement.
A

Taylor (Father of Scientific Management)

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58
Q
  1. It covers narrow perspective of management (Taylor or Fayol?)
    theory
A

Taylor (Father of Scientific Management)

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59
Q

The aim is to increase overall production of the
organisation.

A

Fayol (Father of Principles of Management)

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60
Q

The focus is on developing principles that can be
applied to coordinate internal activities of the
organization-

A

Fayol (Father of Principles of Management)

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61
Q

Management is viewed from top to bottom.

A

Fayol (Father of Principles of Management)

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62
Q

It is based on personal experience later translated
into universal truth.

A

Fayol (Father of Principles of Management)

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63
Q

It has wider perspective and. therefore, wider
applicability.

A

Fayol (Father of Principles of Management)

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64
Q

Weber’s Bureaucracy Theory
Who made it? Even tho it’s very obvious…

A

Max Weber

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65
Q

The rational-legal authority system/model was introduced
characterized by:

A

-Division of work
-Rules and Regulations
-Hierarchy of authority
-Record keeping
-Impersonal relations

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66
Q

is built on the base of classical theory.

A

Neoclassical Theory

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67
Q

concentrated on job content and
management of physical resources

A

Classical theory

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68
Q

gave greater emphasis to individual and group
relationship in the workplace.

A

neoclassical
theory

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69
Q

Pointed out the role of psychology
and sociology.

A

neo-classical theory

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70
Q

neo-classical theory Pointed out the role of____________

A

psychology
and sociology.

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71
Q

Modern Theory is also known as?

A

(System Approach)

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72
Q

considers an organization as an adaptive
system which has to adjust to changes in its environment.

A

Modern theory

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73
Q

It was developed as a synthesis of quantitative theory,
systems theory, contingency theory and operational theory
of management.

A

Modern theory

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74
Q

Modern Theory was developed for?

A

quantitative theory,
systems theory, contingency theory and operational theory
of management.

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75
Q

is responsible for the entire
organization particularly in
realizing its goals and the
attainment of its vision and
mission.

A

The
Manager

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76
Q

Levels of management?

A

Top Management
Middle Management
Lower Management

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77
Q

The manager is responsible for what?

A

entire
organization particularly in
realizing its goals and the
attainment of its vision and
mission.

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78
Q

Three Levels of Managers

A

1) Top Level Managers
2) Middle Level Managers
3) Lower Level Managers

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79
Q

What managers are this?
(BODs, CEO, President)

A

Top Level
Managers

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80
Q

What managers are this?
(general, branch and
department)

A

Middle Level Managers

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81
Q

What type of managers are these
(supervisory and
operative)

A

Lower Level
Managers

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82
Q

Control and oversee the organization

A

Top Level Managers

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83
Q

Develop goals, strategic plans, policies and make decisions

A

Top Level Managers

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84
Q

Perform executory functions

A

Middle Level Managers

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85
Q

Manage the day-to-day activity of the business, monitors performance

A

Middle Level Managers

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86
Q

Referred to as line managers

A

Lower Level Managers

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87
Q

oversee and direct the employees

A

Lower Level Managers

88
Q

Five Functions of a Manager?

A

1) Planning
2) Organizing
3) Staffing
4) Directing
5) Controlling

89
Q

This involves identifying the goals of the organization, and the best way(s) to accomplish these goals.

A

Planning

90
Q

This involves assigning responsibilities to employees who have the competence and ability to complete the task.

A

Organizing

91
Q

It involves hiring the right employee for the job. The main purpose of staffing is to put the right person on right job.

A

Staffing

92
Q

It involves coordinating the entire organization so it
performs efficiently to achieve its goals.

A

Directing

93
Q

Elements of Directing

A

1) Supervision
2) Leadership
3) Motivation
4) Communications

94
Q

overseeing the work

A

Supervision

95
Q

guides and influences

A

Leadership

96
Q

inspiring, stimulating or encouraging

A

Motivation

97
Q

passing information, experience, opinion

A

Communications

98
Q

It involves with monitoring or checking the performance of
employees, comparing it with organizational goals, and taking corrective
actions when necessary.

A

Controlling

99
Q

10 Roles of a Manager (Categories)

A

Interpersonal, Informational, Decisional

100
Q

10 Roles of a Manager (with category)

A

1) Figurehead Interpersonal
2) Leader Interpersonal
3) Liaison Interpersonal
4) Monitor Informational
5) Disseminator Informational
6) Spokesman Informational
7) Entrepreneur Decisional
8) Disturbance Handler Decisional
9) Resource Allocator Decisional
10) Negotiator Decisional

101
Q

Performs ceremonial duties
Handing out awards
Cutting ribbons of business openings

A

Figurehead

102
Q

Building a team
Coaching & motivating members

A

Leader

103
Q

Develops and maintain a network
Intermediary for business partnerships

A

Liaison

104
Q

It involves building harmonious relationship among members of the organization.

A

Interpersonal Roles

105
Q

It involves developing contacts and linkages to further the reach and influence of the business.

A

Informational Roles

106
Q

Seeks out and gathers information relevant to the organization

A

Monitor

107
Q

Provides information where it is needed in the organization

A

Disseminator

108
Q

Transmits information to people outside the organization

A

Spokesperson

109
Q

Involves developing new business plans, strategies, or a new project.

A

Decisional Roles

110
Q

Searches out new opportunities and initiates change

A

Entrepreneur

111
Q

Handles unexpected events and crises

A

Disturbance handler

112
Q

Designates the use of financial, human, and other organizational resources

A

Resource allocator

113
Q

Leads the contracts and agreements behalf of the organization.

A

Negotiator

114
Q

3 Skills of an Effective Manager

A

1) Technical Skills
2) Human Skills
3) Conceptual Skills

115
Q

These are skills that will be required to increase sales, design different types of products and services, market the products and services, etc

A

Technical Skills

116
Q

The knowledge or ability of a manager for more abstract thinking. He can easily see the whole through analysis and diagnosis of different states

A

Conceptual Skills

117
Q

The knowledge and ability of a manager to work with people.

A

Human Skills

118
Q

It refers to those aspects of the surroundings of
business enterprise, which affect or influence
its operations and determine its effectiveness.

A

Business Environment

119
Q

It is the process of gathering information about events and their relationships within an organization’s internal and external environments.

A

Environmental Scanning

120
Q

Purposes of Environmental Scanning:

A

1) To help management determine the future direction of the organization.
2) It is also helpful in making good and effective company policies.

121
Q

Classifications of Business Environment:

A

1) Business Environment
2) Internal Environment
3) External Environment

122
Q

Factors or events existing within a firm

A

INTERNAL ENVIRONMENT

123
Q

Factors or events outside the firm

A

EXTERNAL ENVIRONMENT

124
Q

Controllable factors

A

INTERNAL ENVIRONMENT

125
Q

Uncontrollable factors

A

EXTERNAL ENVIRONMENT

126
Q

Strengths and weaknesses

A

INTERNAL ENVIRONMENT

127
Q

Opportunities and threats

A

EXTERNAL ENVIRONMENT

128
Q

Company only

A

INTERNAL ENVIRONMENT

129
Q

All companies operating in the industry

A

EXTERNAL ENVIRONMENT

130
Q

Business Strategy, functions and decisions

A

INTERNAL ENVIRONMENT

131
Q

Business survival, growth, reputation, expansion, etc.

A

EXTERNAL ENVIRONMENT

132
Q

Factors of Internal Environment:

A

1) Plans & Policies
2) Financial Resources
3) Corporate Image
4) Culture
5) Human Resources

133
Q

The plans and policies of the firm should be properly framed taking into consideration the objectives and resources of the firm.

A

Plans & Policies

134
Q

The survival and success of the firm largely depends n the quality of human resources.

A

Human Resources

135
Q

A firm needs adequate funds to meet its working capital and fixed capital requirements.

A

Financial Resources

136
Q

A firm should develop, maintain, and enhance a good corporate image in the minds of employees, investors and customers.

A

Corporate Image

137
Q

A good management relationship helps in increasing the morale of the employees and motivates them to exert effort in the business.

A

Culture

138
Q

Factors of External Environment (with label)

A

Shareholders - Microenvironment
Employees - Employees
Customers - Customers
Competitors - Competitors
Suppliers - Suppliers
Economic Factors - Macro environment
Political & Legal - Political & Legal
Technological - Political & Legal
Socio-Cultural - Political & Legal

139
Q

are the actual owners of the company, as they invest their money in the company

A

Shareholders

140
Q

It is very important for the firm, to employ the right people, retain and keep them motivated so as to get the best out of them.

A

Employees

141
Q

are given the most important place in every business, because, the products are created and promoted for customers only.

A

Customers

142
Q

are the business rivals, which operate in the same industry, offering the same product and services, and cater to the same audience.

A

Competitors

143
Q

To carry out the production process, the raw material is required which is provided by the suppliers.

A

Suppliers

144
Q

has a direct impact on a company’s business operations.

A

behavior of the supplier

145
Q

Macro Environmental Factors:

A

Economic
Environment

Technological
Environment

Business
Environment

Social
Environment

Legal
Environment

Political
Environment

146
Q

The political and legal environment consists of the laws, rules, regulations and policies which the company needs to adhere.

A
  1. Political-Legal Environment
147
Q

Tax Policies
Labor Policies
Environmental Policies

A
  1. Political-Legal Environment
148
Q

The economic conditions of the region and the country as a whole has a significant bearing on the company’s profitability.

A

Economic Factors

149
Q

Inflation Rates
Interest Rates
Current Economic Climate

A

Economic Factors

150
Q

The attitude of the society to a business also depends on whether the firms have been responsive to the needs and wants of the society.

A

Socio-Cultural Factors

151
Q

Age Demographics
Lifestyle
Traditions
Beliefs

A

Socio-Cultural Factors

152
Q

This comprises the innovations and improvements in methods, machines and materials.

A
  1. Technological Factors
153
Q

Research and development
Threats from competing technologies

A
  1. Technological Factors
154
Q

It involves looking at the strengths and weaknesses of your business capabilities, and any opportunities and threats to your business.

A

SWOT Analysis

155
Q

Once you identify these, you can assess how to:

A

capitalize on your strengths
minimize the effects of your weaknesses
make the most of any opportunities
reduce the impact of any threats

156
Q

(things your company does well)

A

STRENGTHS

157
Q

Competitors in your area, emerging
needs of your product)

A

WEAKNESSES

158
Q

(things your company lacks)

A

OPPORTUNITIES

159
Q

(Emerging competitors, changing
customer’s attitude, and regulations)

A

THREATS

160
Q

It is sometimes called global sourcing, means engaging in the international division of labor so that manufacturing can be done in countries with the cheapest sources of labor and supplies.

A

Outsourcing

161
Q

is the making of a product or service in the firm’s domestic marketplace and selling it in another country

A

Exporting

162
Q

On the other hand is bringing a good, service, or capital into the home country from abroad.

A

Importing

163
Q

provides some technology to a foreign firm (licensee) by granting that firm the right to use the licensor’s manufacturing process, brand name, patents, or sales knowledge in return for some payment.

A

A firm

164
Q

is a partnership between a domestic firm and a foreign firm. Both partners invest money and share ownership and control of partnership.

A

Joint venture

165
Q

is a partnership between a domestic firm and a foreign firm. Both partners invest money and share ownership and control of partnership.

A

Joint venture

166
Q

are investments in tangible assets or companies with the aim of financing their development in the medium or long term.

A

Direct Investment

167
Q

are investments in tangible assets or companies with the aim of financing their development in the medium or long term.

A

Direct Investment

168
Q

Involves two or more firms jointly cooperate for mutual gain

A

Strategic Alliances

169
Q

It involves partnership between an organization ad a foreign company in which both share resources and knowledge in developing new products or building production activities.

A

Strategic Alliances

170
Q

is the first stage of the management cycle.

A

Planning

171
Q

It involves the establishment of the goals and objectives for the
company or organization.

A

Planning

172
Q

Are narrow in scope and usually for short-term (within 1 year)

A

Objectives

173
Q

Are narrow in scope and usually for short-term (within 1 year)

A

Objectives

174
Q

Are broad in nature and for longer term (3-5 years)

A

Goals

175
Q

Planning starts with setting a _________

A

company’s mission and vision.

176
Q

It is a picture of what the organization wants and is committed to achieve in the future.

A

Vision Statement

177
Q

It answers the question,

“What do we want to become?”

A

Vision Statement

178
Q

Vision Statement
should be?

A

SHOULD BE SHORT
PREFERABLY ONE SENTENCE
MUST BE AGREED BY MANAGEMENT AND EXECUTIVES

179
Q

company’s remark; a value creation premise that people can actually picture as existing

A

FOCUSED CONCEPT

180
Q

something people can realistically believe to be possible and, if not perfectly attainable, at least reasonable to strive for

A

PLAUSIBLE CHANCE OF SUCESS

181
Q

something that is really worth doing; something that can create value, make a contribution, make the world a better place in some way, and win people’s commitment

A

NOBLE PURPOSE

182
Q

It is an enduring statement of purpose of an organization’s existence that distinguishes itself from others.

A

Mission Statement

183
Q

It answers the question,

“What is our business?”

A

Mission Statement

184
Q

Who are the firm’s customers?

A

Customers

185
Q

What are the firm’s major products or services?

A

Products or services

186
Q

Components of a Vision Statement

A

FOCUSED CONCEPT
PLAUSIBLE CHANCE OF SUCESS
NOBLE PURPOSE

187
Q

Geographically, where does the firm compete?

A

Markets

188
Q

Is the firm technologically current?

A

Technology

189
Q

Is the firm committed to growth and financial soundness?

A

Concern for survival, growth, and profitability

190
Q

What are the basic beliefs, values, aspirations, and ethical priorities of the firm?

A

Philosophy

191
Q

What is the firm’s distinctive competence or major competitive advantage?

A

Self-concept

192
Q

Is the firm responsive to social, community, and environmental concerns?

A

Concern for public image

193
Q

Are employees a valuable asset of the firm?

A

Concern for employees

194
Q

Steps in Planning

A

Define your goals/objectives
Know your strengths and weaknesses
Develop premises regarding future conditions
Analyze and choose among action alternatives
Implement the plan and evaluate results

195
Q

is used in light of achieving big goals in the long term. It is more of a high-level planning done by the top-level managers in the organization.

A

Strategic planning

196
Q

is used in light of achieving big goals in the long term. It is more of a high-level planning done by the top-level managers in the organization.

A

Strategic planning

197
Q

refers to task prioritization for achieving short term goals. Such planning helps achieve those goals as prescribed in a strategic plan.

A

Tactical planning

198
Q

It is the kind of planning required for day-to-day activities. It can be of two types – either single-use plans or ongoing plans.

A

Operational Plan

199
Q

operational plan can be 2 types

A

single-use plans or ongoing plans.

200
Q

These plans can be used only until the objective is achieved, after which they are of no purpose.

A

Single Use Plans

201
Q

These are repetitive in nature and can be modified for evolving purposes in the future. They are also characterized by short-term plans.

A

Ongoing Plans

202
Q

Also known as ‘special planning’, it is used for situations when changes cannot be foreseen.

A

Contingency Plan

203
Q

is a common statistical task in business, where it helps to inform decisions about the scheduling of production, transportation and personnel, and provides a guide to long-term strategic planning.

A

Forecast

204
Q

Forecast used e Forecast used either be ___________

A

quantitative or qualitative

205
Q

numerical information about the past is available;
it is reasonable to assume that some aspects of the past patterns will continue into the future
mathematical calculations, statistical analyses of surveys or researches are used

A

Quantitative forecasting

206
Q

This method is used if there are no data available, or if the data available are not relevant to the forecasts

A

Qualitative Forecasting

207
Q

It is identifying a specific set of uncertainties, different “realities” of what might happen in the future of your business. It is a long-term version of contingency plan.

A

Scenario Planning

208
Q
  • It generally involves external comparison of a company’s practices and technologies with those of other companies.
A

Benchmarking

209
Q

It aims to encourage all their employees working in their different work of units to learn and improve by sharing one another’s best practices.

A

Internal benchmarking

210
Q

A common benchmarking technique is to search for best practices used
by other organizations that enable them to achieve superior
performance.

A

External benchmarking

211
Q

It is a process which begins with a problem identification and
ends with the evaluation of implemented solution. The types of decision-making are:

A

Decision–making

212
Q

-a decision that is repetitive and can be handled using a routine approach.

A

Structured or programmed decision

213
Q

applied to the resolution of the problem that are new or usual, or which information is incomplete

A

Unstructured or non-programmed decision

214
Q

These are ideal conditions in deciding problems; these are situation in which a manager can make precise decisions because the results of all alternatives are known.

A

Certainty conditions

215
Q

Uncertainty means that implies a situation where future events are not known and can not be measured. It means outcome of the decision is unknown and uncontrollable.

A

Risk or uncertainty
conditions