Exam (elaborations)
RSM100 Chapter 7 Questions & answers
- Module
- Institution
RSM100 Chapter 7 Questions & answers
[Show more]
Seller
Follow
EXAMQA
Reviews received
Content preview
RSM100 Chapter 7controlling - ANS-the function of assessing an organization's performance against its
goals.
Controlling has 4 basic steps: setting performance standards, monitoring actual
performance, comparing actual performance with the standards, and making corrections
if needed
corporate culture - ANS-- an organization's collection of principles, beliefs, and values.
- The corporate culture is influenced by the leadership style of its managers, the way the
firm communicates, and the overall work environment. A corporate culture is typically
shaped by the leaders who founded and developed the company and by the leaders
who were appointed since the founders left.
decision making - ANS-the process of seeing a problem or opportunity, assessing
possible solutions, selecting and carrying out the best-suited plan, and assessing the
results.
Managers make two basic kinds of decisions: programmed decisions and
nonprogrammed decisions.
delegation - ANS-the managerial process of assigning work to employees.
departmentalization - ANS-the process of dividing work activities into units within the
organization.
directing - ANS-guiding and motivating employees to accomplish organizational goals.
Directing can include training (or retraining), setting up schedules, assigning tasks, and
monitoring progress
empowerment - ANS-giving employees shared authority, responsibility, and decision
making with their managers
leadership - ANS-the ability to direct or inspire people to reach goals.
, management - ANS-Management: the process of achieving organizational goals
through people and other resources. Combine human and technical resources in the
best way possible to achieve the company's goals.
mission statement - ANS-a written description of an organization's overall business
purpose and aims.
objectives - ANS-guideposts by which managers define the organization's desired
performance in such areas as new-product development, sales, customer service,
growth, environmental and social responsibility, and employee satisfaction.
organization - ANS-- a structured group of people working together to achieve common
goals.
- An organization features three key elements: human interaction, goal-directed
activities, and structure
organizing - ANS-the process of blending human and material resources through a
formal structure of tasks and authority: arranging work, dividing tasks among
employees, and coordinating them to ensure plans are carried out and goals are met.
Organizing involves classifying and dividing work into manageable units with a structure
that makes sense. Managers staff the organization with the best possible employees for
each job
planning - ANS-- Process of looking forward to future events and conditions and
deciding on the courses of actions for achieving organizational goals
- Effective planning helps a business to focus its vision, avoid costly mistakes, and seize
opportunities
- Planning should be flexible and responsive to changes in the business environments
and should involve managers from all levels of the organization
- Planning for the future is more important than ever because global competition is
getting stronger, technology continues to expand, and firms are bringing new
innovations to market faster
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EXAMQA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.25. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now