INTRO. TO BUSINESS: EXAM 2 STUDY GUIDE TEST.
Planning - CORRECT ANSWER Process of figuring out the future goals of a business and creating a strategy to achieve them
Organizing - CORRECT ANSWER Determining a structure for both individual jobs and the overall organization
Leading - CORREC...
INTRO. TO BUSINESS: EXAM 2 STUDY
GUIDE TEST.
Planning - CORRECT ANSWER Process of figuring out the future goals of a business and creating a
strategy to achieve them
Organizing - CORRECT ANSWER Determining a structure for both individual jobs and the overall
organization
Leading - CORRECT ANSWER Directing and motivating individuals to achieve organizational goals
Middle Managers - CORRECT ANSWER Communicate up and down the pyramid, coordinate teams and
special projects
Technical Skills - CORRECT ANSWER Expertise in a specific functional area or department
Human Skills - CORRECT ANSWER Good at communicating, coaching, empathy and team building
Theory Y - CORRECT ANSWER Provides support and encouragement to motivate workers
Task Significance - CORRECT ANSWER Workers understand the impact of the task on others
Expectancy Theory - CORRECT ANSWER Effort -> Performance -> Reward
SWOT Analysis - CORRECT ANSWER Internal strengths and weaknesses, external opportunities and
threats
, Decentralization - CORRECT ANSWER Allows employees to respond to customers needs more quickly
and effectively
Span of Control - CORRECT ANSWER Number of people a manager supervises
Departmentalization - CORRECT ANSWER breaking workers into logical groups
Autocratic Leaders - CORRECT ANSWER Decision-making powers and issue orders without consulting
followers
Free-rein Leaders - CORRECT ANSWER Set objectives and give freedom to choose
Clear Standards - CORRECT ANSWER Specific and measurable, realistic but challenging, tied to a time
frame
Operations Management - CORRECT ANSWER Concerned with activities involved in creating value by
producing goods and services and distributing
Efficiency vs. Effectiveness - CORRECT ANSWER Lowest cost vs. Creating value
Goods - CORRECT ANSWER Tangible product that can be seen and touched
Services - CORRECT ANSWER Intangible, experienced and not consumed
Process - CORRECT ANSWER Volume of production and degree of standardization
Fixed Position Layout - CORRECT ANSWER Goods that must be produced at a specific site (Drilling
machines or cranes)
Facility Location - CORRECT ANSWER Near customers and suppliers
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