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mgt 300 > unit 1 exam > Flashcards

unit 1 exam Flashcards

1
Q

____ is the process of working with people and distributing resources to achieve goals efficiently and effectively

A

management

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2
Q

____ is the level to which people or organizations achieve agreed-upon goals

A

effectiveness

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3
Q

____ is using the smallest amount of resources to achieve the greatest output

A

efficiency

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4
Q

The four major tasks of managers are p____, o____, l____, and c____

A

planning, organizing, leading, controlling

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5
Q

____ is the process of setting goals for the future, designing strategies, and deciding on the actions and resources needed to achieve success

A

planning

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6
Q

____ is the process of orchestrating people, actions, resources, and decisions to achieve goals

A

organizing

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7
Q

____ is the process of effectively motivating and communicating with people to achieve goals

A

leading

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8
Q

____ is the process of monitoring activities, measuring results and comparing them with goals, and correcting performance when necessary

A

controlling

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9
Q

The primary roles managers play in an organization are i____ roles, i____ roles, and d____ roles

A

interpersonal, informational, decisional

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10
Q

____ roles are when managers build relationships with the people they work with and act as a public symbol for the many people they represent

A

interpersonal

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11
Q

____ roles are where managers gather, assess, and communicate information to individuals and teams in support of the organization’s values, mission, vision, and goals

A

informational

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12
Q

____ roles in which managers are responsible for making judgements and decisions based on available information and analysis of the situation

A

decisional

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13
Q

The two types of entrepreneurial mindset are a f____ mindset and a g____ mindset

A

fixed, growth

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14
Q

A ____ mindset is where people believe their talents, intelligence, and abilities are set traits

A

fixed

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15
Q

A ____ mindset is where people believe their talents, intelligence, and abilities can be developed through dedication, effort, and persistence

A

growth

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16
Q

Today’s leaders put social and environmental impacts before profit to drive their decision-making, something that is called the triple bottom line, or the 3 Ps: ____, ____, and ____

A

people, planet, profit

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17
Q

____ organizations have fewer than 100 employees

A

small

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18
Q

____ organizations have between 100 and 500 employees

A

midsize

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19
Q

____ organizations have more than 500 employees

A

large

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20
Q

A ____-____ company is a newly formed organization with limited or no operational history

A

start-up

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21
Q

A ____ ____ has operations in multiple countries and usually more than 10,000 employees that designs, develops, and sells products and services to customers all over the world

A

multinational corporation

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22
Q

A ____ ____ focuses on increasing its annual revenue faster than its competitors

A

growth company

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23
Q

____ ____ reinvest all profits back into the organization, as opposed to distributing that money to investors or employees

A

nonprofit organizations

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24
Q

Managers are generally categorized as t____, m____, and l____

A

top, middle, line

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25
Q

____ managers set the direction and make decisions that affect everyone in the organization

A

Top

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26
Q

____ managers direct the work of first-line managers and make decisions affecting divisions or departments

A

middle

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27
Q

____-____ managers make decisions affecting the daily operations for producing goods or services

A

first-line

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28
Q

An organization’s m____, v____, and v____ shape decision-making, products and services, beliefs, and relationships with people inside and outside the organization

A

mission, vision, values

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29
Q

The ____ is the organization’s central purpose that sets forth the vision

A

mission

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30
Q

The ____ describes what the organization will be now and in the future

A

vision

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31
Q

____ state the belief systems upheld by the organization and its employees

A

Values

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32
Q

____ are talents or abilities that enable a person to complete a particular task, interaction, or process effectively and efficiently

A

Skills

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33
Q

Three types of management skills are c____ skills, t____ skills, and r____ skills

A

conceptual, technical, relational

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34
Q

____ skills are the ability to think through complex systems and problems

A

conceptual

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35
Q

____ skills are the ability to perform job-specific tasks

A

technical

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36
Q

____ skills are the ability to collaborate and communicate effectively with others

A

relational

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37
Q

____ ____ is fundamental to managers when it comes to making good quick decisions

A

critical thinking

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38
Q

There are two types of environments managers must deal with when operating an organization: i____ and e____

A

internal, external

39
Q

A company’s ____ environment comprises the forces inside the organization that affect how managers set expectations, how employees perform their roles, and how the company interacts with stakeholders and responds to the external environment

A

internal

40
Q

____ environments are the specific and general factors outside an organization that can change how it operates

A

External

41
Q

An organization’s specific environment includes the external factors that affect the organization’s o____ and p____ - including customers, talent, suppliers, competitors, advocacy, and regulation

A

operations, performance

42
Q

The ____ environment is external forces that affect all organizations participating in an economy, where managers have little or no power to effect change

A

general

43
Q

____ forces in the general environment include political and legal, resource availability, economic, technological, and sociocultural factors

A

external

44
Q

____ ____ is a collection of beliefs that individuals and groups share to help their organization respond to environmental forces and changes

A

organizational culture

45
Q

There are two main components of culture: o____ and u____

A

observable, unobservable

46
Q

____ culture refers to the components of culture that we can see in an organization

A

observable

47
Q

____ culture consists of the components that lie beneath the surface of an organization, such as company values and assumptions

A

unobservable

48
Q

The ____ of an organization such as slogans, stories, rituals, and ceremonies provide members and outsiders with a better understanding of its culture

A

artifacts

49
Q

The competing values framework suggests four types of culture: c____, h____, m____, and a____

A

clan, hierarchy, market, adhocracy

50
Q

A ____ culture is a family-like working environment where employees share the same goals and values and form strong personal relationships

A

clan

51
Q

____ cultures are formal and structured places where employees are primarily guided by processes, rules, and procedures

A

hieracrchical

52
Q

____ culture emphasize interactions conducted outside the organization with a view to increasing company competitiveness

A

market

53
Q

____ cultures are creative, dynamic, fast moving, and the quickest to adapt to changing markets

A

adhocracy

54
Q

A(n) ____ ____ is a plan of action for a company to achieve its long-term goals

A

organizational strategy

55
Q

One of the main responsibilities of managers is to c____, p____, and i____ strategies to defend the company against the threat of competition, ascertain the best market position, and determine the weaknesses that might make its position vulnerable in the industry

A

create, present, and implement

56
Q

Typically, there are three levels of strategy: o____, d____, and f____

A

organizational, divisional, functional

57
Q

A ____ ____ determines how particular business units or divisions compete in a particular industry or market

A

divisional strategy

58
Q

A ____ ____ determines how employees will implement and achieve a tactical plan

A

functional strategy

59
Q

____ ____ are the characteristics of an organization’s products or services that distinguish it from competitors and provide an advantage in the marketplace

A

competitive advantage

60
Q

The ____-____ typology identifies four types of strategic behavior portrayed by companies: defender, prospector, analyzer, and reactor

A

Miles-Snow

61
Q

The five forces model outlines five forces that determine what managers should expect when competing in an industry: power of s____, power of b____, s____ products and services, new e___, and r____

A

suppliers, buyers, substitute, entrants, rivalry

62
Q

A ____ ____ ____ is an obstacle that makes it difficult for an organization to enter a particular market or replicate a competitor’s service and product offerings

A

barrier to entry

63
Q

Examples of ____ ____ ____ include supply-side economies of scale, demand-size economies of scale, customer switching costs, capital requirements, incumbent advantages independent of size, access to distribution channels, restrictive government policy, expected retaliation, and rivalry

A

barriers to entry

64
Q

The ____ ____ is a framework developed by the Boston Consulting Group for evaluating business units according to growth and market share, so that managers could quickly categorize their company’s position in the industry where it competes

A

BCG matrix

65
Q

The four quadrants defined in the BCG matrix are s____, q____ m____, c____ c____, and d____

A

star, question mark, cash cow, dog

66
Q

A ____ ____ refers to a company that creates a new market space where there is little or no competition

A

blue ocean

67
Q

Blue ocean strategists focus on creating ____ ____ rather than competing with existing companies for customers

A

new markets

68
Q

Once managers have a good idea about where the company is positioned within the industry, they can begin a ____ ____

A

SWOT analysis

69
Q

A SWOT analysis is a method of assessing an organization’s s____, w____, o____, and t____

A

strengths, weaknesses, opportunities, threats

70
Q

Many companies use the following big strategies (sometimes known as grand strategies) to boost performance and increase growth: g____ strategies, s____ strategies, and d____ strategies

A

growth, stability, defensive

71
Q

Porter developed four competitive strategies that can be adopted by organizations to gain competitive advantage: c____ l____, d____, c____ f____, and d____ f____

A

cost leadership, differentiation, cost focus, differentiation focus

72
Q

Using multiple strategies risks organizations becoming ____ ____ ____ ____, meaning that they begin to lose focus on the direction of the organization

A

stuck in the middle

73
Q

Trader Joe’s having value based food and beverages, being high quality, and superior customer service is an example of their ____

A

planning

74
Q

Trader Joe’s products, suppliers, product placements, “one in one out”, and real estate are examples of their ____

A

organizing

75
Q

Trader Joe’s HR, employees, and labels are examples of their ____

A

leading

76
Q

Trader Joe’s customer feedback and competitor price cuts are examples of their ____

A

controlling

77
Q

____ ____ is a process involving managers from all parts of the organization of formulating and implementing strategies to accomplish long-term goals and to sustain competitive advantage

A

strategic management

78
Q

The strategic management process:

D____ ____ and ____
E____ ____
F____ ____ ____ ____ ____
I____ ____
N____
E____ ____

A

define mission and goals, evaluate situation, formulate plan after mission review, implement plan, now, evaluate performance

79
Q

Spirit and Frontier Airlines are examples of ____ ____

A

cost leadership

80
Q

Delta, American Airlines, and Southwest are examples of ____

A

differentiation

81
Q

Allegiant is an example of a ____ ____ ____

A

focus cost leader

82
Q

Emirates is an example of ____ ____

A

focus differentiation

83
Q

____ is a system of shared meaning that dictates how organizational members behave. Suggests the correct way to do things. “Personality” of the organization

A

culture

84
Q

Clues to culture include the v____ of the founder/CEO, s____, p____, r____, and m____

A

values, symbols, practices, rituals, and myths

85
Q

____ is a process of influence for directing behavior toward accomplishing goals

A

leadership

86
Q

The most commonly recognized source of leadership involves the ____ that leaders exercise over their followers

A

influence

87
Q

____-____ can be best described simply as the process of influencing oneself

A

self-leadership

88
Q

____ ____ ____ views the adoption and change of human behavior as a complex process with many parts

A

social cognitive theory

89
Q

____ ____ ____ emphasizes the importance of the “natural” rewards that we enjoy when we take part in activities or tasks that we like

A

intrinsic motivation theory

90
Q

Examples of ____ ____:

  • setting goals
  • giving orders
  • encouragement
  • expectations
  • threats
A

before behavior

91
Q

Examples of ____ ____:

  • rewards such as praise, money, promotion
  • punishments such as verbal reprimand, dismissal, demotion
A

after behavior

92
Q

The three sources of leadership are e____ leadership, p____ leadership, and s____ leadership

A

external, participative, self

93
Q

In Chapter 1 of your textbook, the authors provide a “self leadership in the movies” feature to provide a creative example of someone who practiced self-leadership to achieve success. This feature profiled ____

A

Rocky

94
Q

Dr. Neck recently showed us a video about the GoPro company to specifically illustrate which management concept of ____ ____ ____ ____

A

Porter’s Generic Business Strategies

mgt 300 (8 decks)

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