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MGMT 490 Theory Exam Practice Questions and Answers

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MGMT 490 Theory Exam Practice Questions and Answers What parts make up the formulation and implementation model? - ANSWER-1. Environment 2. Resources 3. Social Responsibility 4. Goals of management 5. Strategy 6. Structure 7. Systems 8. Leadership Strategy - ANSWER--A way to develop strat...

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  • November 11, 2024
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  • 2024/2025
  • Exam (elaborations)
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MGMT 490 Theory Exam Practice

Questions and Answers


What parts make up the formulation and implementation model? - ANSWER✔✔-1. Environment


2. Resources


3. Social Responsibility


4. Goals of management


5. Strategy


6. Structure


7. Systems


8. Leadership


Strategy - ANSWER✔✔--A way to develop strategic competence.


-How do I get a competitive advantage over my competition?


Leadership - ANSWER✔✔--Long-term effort with strategic values


-Task structure, position power, leader-member relations


Goals of management - ANSWER✔✔-Cash


Account income


Retained Earnings

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Sales




-You can have cash, but still have lost money


Social Responsibility - ANSWER✔✔-A large scale society is good for business and for us.


Ethical issues:


-Don't kill the customer


-Equal opportunity


-Freedom of the press


-Helping the poor/sick


What models relate to environment? - ANSWER✔✔-Porters and Supply Chain


Which models relate to resources? - ANSWER✔✔-Financial Analysis Ratios


Which models relate to strategy? - ANSWER✔✔--Grand


-Generic


-Business Model


-BCG


-Rumelt


What items go under structure? - ANSWER✔✔--Size


-Product



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