GMS 200 – Midterm ACTUAL Questions and CORRECT Answers
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Course
GMS 200
Institution
GMS 200
GMS 200 – Midterm ACTUAL Questions
and CORRECT Answers
Intellectual capital - CORRECT ANSWER- Collective brainpower of a workforce that
can be used to create value
Resource inputs - CORRECT ANSWER- People, money, materials, technology,
information
Transformation process - CORRECT ANSWER-...
GMS 200 – Midterm ACTUAL Questions
and CORRECT Answers
Intellectual capital - CORRECT ANSWER✔✔- Collective brainpower of a workforce that
can be used to create value
Resource inputs - CORRECT ANSWER✔✔- People, money, materials, technology,
information
Transformation process - CORRECT ANSWER✔✔- Work activities turn resources into
outputs
Product outputs - CORRECT ANSWER✔✔- Finished goods and services
Organizations - CORRECT ANSWER✔✔- People working together to achieve a common
purpose
Value creation - CORRECT ANSWER✔✔- When an organizations operations add value to
the original cost of resource inputs
Specific (task) environment - CORRECT ANSWER✔✔- Organizations, groups, people that
organizations interact and conduct business with
Examples of specific (task) environment stakeholders - CORRECT ANSWER✔✔-
Customers, suppliers, competitors, regulators, investors, owners
Competitive advantage - CORRECT ANSWER✔✔- A core competency that sets an
organization apart from competitors and gives it an advantage over them
, Line managers - CORRECT ANSWER✔✔- Responsible for work activities that directly
affect organizations outputs
Staff managers - CORRECT ANSWER✔✔- Use technical expertise to advise and support the
efforts of line workers
Functional managers - CORRECT ANSWER✔✔- Responsible for a single area of activity
General managers - CORRECT ANSWER✔✔- Responsible for more complex units that
include many functional areas
Administators - CORRECT ANSWER✔✔- Work in public and non profit organizations
Accountibility - CORRECT ANSWER✔✔- Requirement of one person to answer to a higher
authority for relevant performance results
Quality of work life (QWL) - CORRECT ANSWER✔✔- An indicator of overall quality of
human experiences in the workplace
Quality of work life examples - CORRECT ANSWER✔✔- Fair pay, safe working
conditions, opportunities to learn and use new skills, room to grow and progress in a career,
protection of individual rights, pride in work and the organization
Four functions of management - CORRECT ANSWER✔✔- Planning, organizing, leading,
controlling
Planning - CORRECT ANSWER✔✔- Setting performance objectives and deciding how to
achieve them
Organizing - CORRECT ANSWER✔✔- Arranging tasks, people, and other resources to
accomplish the work
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