MGMT 3000 UGA Lyons Test 1 Questions With Revised Answers
19 views 0 purchase
Module
MGMT 3000
Institution
MGMT 3000
MGMT 3000 UGA Lyons Test 1 Questions
With Revised Answers
Contextual intelligence - answerThe ability to understand the impact of environmental
factors on a firm and the ability to understand how to influence those same factors.
management - answerThe act of working with and through a group of ...
MGMT 3000 UGA Lyons Test 1 Questions
With Revised Answers
Contextual intelligence - answer✔✔The ability to understand the impact of environmental
factors on a firm and the ability to understand how to influence those same factors.
management - answer✔✔The act of working with and through a group of people to accomplish a
desired goal or objective in an efficient and effective manner.
leadership - answer✔✔The ability to drive change and innovation through inspiration and
motivation.
bureaucratic organization structure - answer✔✔A clear differentiation of tasks and
responsibilities among individuals; coordination through a strict hierarchy of authority and
decision rights; standardized rules and procedures; and the vertical separation of planning and
execution so that plans are made in the upper ranks of an organization and executed in the lower
ranks.
scientific management - answer✔✔A focus on how jobs, work, and incentive schemes could be
designed to improve productivity using industrial engineering methods.
human relations movement - answer✔✔The belief that organizations must be understood as
systems of interdependent human beings who share a common interest in the survival and
effective functioning of the firm.
contingent view - answer✔✔A view of the firm where effective organizational structure is based
on fit or alignment between the organization and various aspects in its environment.
business environment - answer✔✔The combination of all contextual forces and elements in the
external and internal environments of a firm.
managerial view - answer✔✔A business framework where the firm is seen as a mechanism for
converting raw materials into products to sell to customers.
shareholder view - answer✔✔A business framework where the job of top managers is to produce
the highest possible stock market valuation of the firm's assets.
stakeholder view - answer✔✔A business framework that identifies and analyzes multiple groups
that interact with the firm and attempts to align organizational practices to satisfy the needs of
these various groups.
strategic review process - answer✔✔The process by which senior leaders of a corporation meet
with business unit managers to review progress toward specific goals.
environmental scanning - answer✔✔A tool that managers use to scan the business horizon for
key events and trends that will affect the business in the future.
scenario building - answer✔✔Forecasting the likely result that might occur when several events
and stakeholders are linked together.
contingency planning - answer✔✔The systematic assessment of the external environment to
prepare for a possible range of alternative futures for the organization.
trend analysis - answer✔✔A tool where key variables are monitored and modeled to help predict
a change that might occur in the environment.
VUCA - answer✔✔An acronym for volatile, uncertain, complex, and ambiguous that captures
the context in which today's organizations compete.
employees - answer✔✔The people who make the products and provide the services that allow a
firm to exist.
Globalization - answer✔✔The integration and interdependence of economic, technological,
sociocultural, and political systems across diverse geographic regions.
comparative advantage - answer✔✔An economic theory that proclaims countries should
specialize in producing goods for which they have the lowest opportunity cost of production.
external environment - answer✔✔Represents all of the external forces that affect the firm's
business.
general environment - answer✔✔Includes the technological, economic, political/legal, and
sociocultural dimensions that affect a firm's external environment.
task environment - answer✔✔Includes entities that directly affect a firm on a constant basis and
include competitors, suppliers, and customers
technological dimension - answer✔✔The processes, technologies, or systems that a firm can use
to produce outputs.
economic dimension - answer✔✔The general economic environment (e.g., GDP, inflation, and
unemployment) in the markets where the firm performs activities.
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 Brightstars. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £9.38. You're not tied to anything after your purchase.
