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MGMT 310_ Chapter 1 (1)
MGMT 310_ Chapter 1 (1)
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MGMT 310: Chapter 1an acronym for volatile, uncertain, complex, and ambiguous that captures the context in which
today's organizations compete - ANS-VUCA
unstable and unpredictable change - ANS-volatility
lack of knowledge about significance of change - ANS-uncertainty
many interconnected parts - ANS-complexity
lack of knowledge about cause and effect - ANS-ambiguity
managing and leading diverse workforces, competing on a global scale, operating in a socially
responsible manner, responding to change and uncertainty, harnessing technological advances
- ANS-challenges of leadership
strategic position, organizational design, individual leadership - ANS-three pillars of
management
what does the strategy of an organization depend on? - ANS-nature and context of competitive
and environmental landscape, skills and capabilities of the management team
understanding of contextual landscape depends on a firm's ability to? - ANS-recognize threats
and opportunities, lead and organize resources to effectively compete in the marketplace
the act of working with and through a group of people to accomplish a desired goal or objective
in an efficient and effective manner - ANS-management
the ability to drive change and innovation through inspiration and motivation - ANS-leadership
set direction, align people, motivate and inspire - ANS-leaders
plan and budget, organize and staff, control and problem solve - ANS-managers
conceptual skills are more often used by: - ANS-top management
which skills are important early in career? - ANS-technical skills
middle-level managers focus on interpersonal skills, developing teams, and using conceptual
skills. - ANS-true
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