Busn 201 Final Exam Questions With Revised Answers
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Course
BUSN 201
Institution
BUSN 201
Busn 201 Final Exam Questions With
Revised Answers
Responsible management (25) - answerassumes responsibility for the triple bottom line
(sustainability), stakeholder value (responsibility), and moral dilemmas (ethics).
Prime management (26) - answerrefers to superior management practice leadin...
Busn 201 Final Exam Questions With
Revised Answers
Responsible management (25) - answer✔✔assumes responsibility for the triple bottom line
(sustainability), stakeholder value (responsibility), and moral dilemmas (ethics).
Prime management (26) - answer✔✔refers to superior management practice leading to
performance that, at the same time, is socially, environmentally, and economically sustainable.
Responsible business (27) - answer✔✔assumes responsibility for the triple bottom line,
stakeholder values, and moral dilemmas.
Prime business (27) - answer✔✔refers to a superior type of business that leads to performance
that is at the same time socially, environmentally, and economically sustainable; optimizes SV;
and displays moral excellence
Management (28) - answer✔✔is the process of working with people and resources to achieve
performance effectively, efficiently, and in line with preestablished goals.
Goals (28) - answer✔✔describe the outcome aspired to in the management process
Responsible management goals (28) - answer✔✔should aim at creating value for stakeholders in
all three domains of the triple bottom line, and at achieving moral excellence
Resources (29) - answer✔✔are the input used in the management process to achieve predefined
goals
Responsible management resources (29) - answer✔✔are social, environmental, and economic
capital (triple bottom line), stakeholder inputs, and moral capital
Effectiveness (29) - answer✔✔describes the degree to which the management process has
contributed to the preestablished managerial goals
Responsible management effectiveness (29) - answer✔✔is measured in the amount of Triple
Bottom Line value and SV created and the degree of moral excellence achieved
Efficiency (30) - answer✔✔describes the proportion between resource input and management
output
Responsible management efficiency (30) - answer✔✔is measured by the ratios between the
triple bottom line capital used and created, the stakeholder input and value created, and the moral
issues encountered, and moral excellence achieved through out the management process.
Performance (30) - answer✔✔is the output of the management process
Responsible management performance (30) - answer✔✔is a product of the responsible
management effectiveness and efficiency achieved. Responsible management must assess the
criteria applied for evaluating performance as good or bad
Competences (37) - answer✔✔describe an individual's abilities, which can be subdivided into
domain, methodological, social, and self-competencies
Domain competences (38) - answer✔✔refer to the knowledge that makes one proficient in a
certain field
Methodological competencies (38) - answer✔✔describe the ability to perform a certain type of
task or procedure, either physically or mentally
Self-competencies (39) - answer✔✔are personal characteristics affecting a person's self
perception and management, such as values, attitudes, beliefs, and other psychological
conditions
Social competences (39) - answer✔✔are skills directed at the interaction with others
Managerial process (39) - answer✔✔consist of the four functions of management: planning,
organizing, leading, and controlling.
Planning (39) - answer✔✔is the process of making decisions about goals and activities that will
be pursued in the future
Decision making (40) - answer✔✔is a process that consists of four steps: analyzing the situation,
generating alternative solutions, evaluating alternative solutions, and selecting the solution to be
implemented
Responsible decision making (40) - answer✔✔bases the judgement on how the decision affects
the triple bottom line, stakeholders, and moral value
Organizing (42) - answer✔✔is the process of building the structure, systems, and culture needed
to implement a strategy.
Leadership (43) - answer✔✔is the process of influencing others to attain a goal
Responsible leadership (43) - answer✔✔is the process of building stakeholder relationships to
lead toward the fulfillment of a shared vision and goals
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