test 3

Question 1

steps for making an ethical decision

Answer 1

• identify the ethical issue or problem
• list the facts that have the most bearing on the situation
• are there any legal considerations
• identify anyone who could be affected by your decision and how
• explain what each affected person would want you to do about this issue
• list three alternative actions and identify the best and worst case scenario for each alternative
• determine a course of action

Question 2

five stages of group development

Answer 2

forming - Teams are generally new teams that are learning how to work together

Storming- Teams have moved past the early forming stages and are now encountering some disagreements and/or conflict.

Norming-Teams have successfully moved out of the storming stage and are ready to move to a higher level of communication and problem-solving.

performing -Teams are at the highest level of performance and can process their strengths and weaknesses while accomplishing their goals.

adjourning - The task is completed. The team may cease to exist

Question 3

is not put together by management but forms naturally. Examples include a car pool, a company softball team , or a lunch group.

Answer 3

informal team

Question 4

Made up of people from different areas who do ongoing work on a specific task

Answer 4

comittee

Question 5

is established to accomplished a specific task, after which it is disbanded.

Answer 5

Task force

Question 6

has members from different functional areas. An example is a car - development team consisting of engineers, sales people, accountants and R& D representatives.

Answer 6

cross functional team

Question 7

has no official leader. These teams manage their own hiring, training, developing and scheduling. The team is responsible for all of their own work.

Answer 7

self managed work team

Question 8

Works together across long distances through computer communication instead of face to face meetings. This decision making process can save time and travel expenses.

Answer 8

virtual team

Question 9

what are the advantages of teamwork

Answer 9

Improved creativity, more ideas, more information, improved decision making.

Question 10

what is an expansion

Answer 10

during expansions
- wages increase
- low unemployment
- people are optimistic and spending money

Question 11

contraction

Answer 11

during a contraction

• businesses cut back production and lay off people
• unemployment increases
• number of jobs decline

Question 12

micro

Answer 12

the study of personal or small finances ( individuals, families or businesses

Question 13

macro

Answer 13

the study of economic systems on a large scale
- national or global economies

Question 14

trough

Answer 14

• when the economic cycle reaches a trough
• stock prices drop

Question 15

inflation

Answer 15

a general increase in prices and fall in the purchasing value of money.