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MGT 300 Test 1 (Chapters 1-4) GUARANTEED PASS!!
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  • Course
  • MGT 300
  • Institution
  • MGT 300

Competitive advantage correct answers the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them Competitive advantage can be achieved by: correct answers Responsive to customers, Innovation, Quality, Efficiency Conceptual skil...

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  • August 29, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • competitive advantage

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  • MGT 300
  • MGT 300

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MGT 300 Test 1 (Chapters 1-4) GUARANTEED PASS!!
Competitive advantage correct answers the ability of an organization to produce goods or
services more effectively than competitors do, thereby outperforming them

Competitive advantage can be achieved by: correct answers Responsive to customers,
Innovation, Quality, Efficiency

Conceptual skills correct answers the ability to think analytically, to visualize an organization
as a whole and understand how the parts work together

Controlling correct answers Monitoring performance, compare it with goals, and take
corrective action as needed

Decisional roles correct answers Managers use information to make decisions to solve
problems or take advantage of opportunities.

Effective correct answers to achieve results, to make the right decisions, and to carry them
out so that they achieve the organizations goals

Efficient correct answers to use resources— people, money, and materials effectively

Front-line manager correct answers make short-term operating decision, directing the daily
tasks of non-managerial personnel

Functional manager correct answers is responsible for just one organizational activity

General manager correct answers is responsible for several organizational activities

"High touch" jobs correct answers jobs when managers deal with people rather than computer
screens or voice-response systems

Informational roles correct answers managers as monitors, disseminators, and spokespersons

Interpersonal roles correct answers the roles in which managers interact with people inside
and outside their work units.

Knowledge management correct answers implementation of systems and practices to increase
the sharing of knowledge and information throughout an organization

Leading correct answers motivating, directing, and otherwise influencing people to work hard
to achieve the organization's goals

Management correct answers the pursuit of organizational goals efficiently and effectively by
integrating the work of people through planning, organizing, leading, and controlling the
organization's resources

Middle manager correct answers implement the policies and plans of the top managers above
them and supervise and coordinate the activities of the first-line managers below them

, Organizing correct answers arranging tasks, people, and other resources to accomplish the
work

Planning correct answers setting goals and decide how to achieve them

Soft skills correct answers the ability to motivate, to inspire trust, to communicate with others

Team leaders correct answers manager who is responsible for facilitating team activities
toward achieving key results

Technical skills correct answers the job-specific knowledge needed to perform well in a
specialized field

Top managers correct answers managers that determine what the organization's long-term
goals should be for the next 1-5 years with the resources they expect to have available

How do each of the four management functions operate? Provide an example. correct
answers Controlling- Monitor performance, compare it with goals, and take corrective action
as needed

Leading- motivating, directing, and otherwise influencing people to work hard to achieve the
organization's goals

Organizing- arranging tasks, people, and other resources to accomplish the work

Planning- setting goals and decide how to achieve them

How do each of the challenges outlined in the book affect managers? Provide an example?
correct answers Challenge 1: Managing for competitive advantage-staying ahead of rivals.
Ex: app based ride share services such as Uber taking over taxi business

Challenge 2: Managing for diversity- maximizing the contributions of employees diverse in
gender, age, and race.

Challenge 3: Managing for Globalization- managing across the world

Challenge 4: Managing the information technology—dealing with the "New Normal": the
challenge of managing for new technology affecting your business

Challenge 5: Managing for ethical standards- managers can find themselves confronting
ethical dilemmas with the pressure to meet sales, production, and other targets

Challenge 6: Managing for Sustainability- manager are limited on what they can do in terms
of changing climate and going green

Challenge 7: Managing for Happiness and Meaningfulness- managers struggle to be happy
and meaningful in their work or if they are promoted, struggle with the new change, they
aren't happy, but feel more meaningful

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