GMS 200 - Midterm Questions and Correct Answers the Latest Update and Recommended Version
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Module
GMS 200
Institution
GMS 200
Ethics
→ code of moral principles that set standards of conduct of what is good and right
Organizations as open system
→ composed or interrelated parts that function together
Line Manager
→ Responsible for work activities that directly affect organization's outputs
Staff Manager
→ ha...
→ consists of all the background conditions in the external environment of an organization
Economic Conditions
→ the economic conditions of the general environment details the health of the economy in
terms of inflation, income levels, GDP, unemployment, and job out-look.
Legal-Political Conditions
→ by staying abreast of the legal-political conditions of the general environment,
managers are aware of the prevailing philosophy and objectives of the political party
or parties running the government, as well as laws and government regulations.
Internet Censorship
→ is the deliberate blockage and denial of public access to information posted on the
Internet
Technological Conditions
→ with the development and availability of new technologies in the general environment,
managers need to constantly monitor how these advances affect the work being done
by employees.
Socio-cultural Conditions
→ changes in the norms, customs, and social values on such matters as human rights, ethics,
gender roles, and life styles, along with environmental trends in education and related
social institutions, as well as demographic patterns all will affect how organizations are
managed.
Specific Environment
→ consists of all the actual organizations, groups, and persons with whom an organization
interacts and conducts business.
→ the persons, groups, and institutions who are affected by the organization's
performance
Competitive Advantage
→ refers to a core competency that clearly sets and organization apart from competitors
and gives it an advantage over them in the marketplace
Cost
→ operating with lower costs than one's competitors and thus earning profits with prices
that competitors have difficulty matching
Quality
→ creating products and services that are demonstrably higher quality for customers than
what is being offered by the competition
Delivery
→ outperforming competitors by delivering products and services to customers faster and
on-time, while continuing to develop timely new products
Flexibility
→ adjusting and tailoring products and services to fit customer needs in ways that are
difficult for competitors to match
Strategic Positioning
→ occurs when an organization does different things or the same thing in different ways
from its major competitors
Environmental Uncertainty
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