Bureaucratic Organization Structure correct answers clear differentiation of tasks/responsibilities among individuals; coordination thru a strict hierarchy of authority and decision rights; standardized rules/procedures; vertical separation of planning and execution sot hat plans are made in the up...
MGMT 310 - Exam 1 (Ch. 1-6) || All Questions Answered
Correctly.
Bureaucratic Organization Structure correct answers clear differentiation of tasks/responsibilities
among individuals; coordination thru a strict hierarchy of authority and decision rights;
standardized rules/procedures; vertical separation of planning and execution sot hat plans are
made in the upper ranks of an organization and executed in the lower ranks
business environment correct answers combination of all contextual forces and elements in the
external and internal environment of a firm
contextual intelligence correct answers ability to understand the impact of environmental factors
on a firm and the ability to understand how to influence those same factors
contingency planning correct answers systematic assessment of the external environment to
prepare for a possible range of alternative futures for the organization
contingent view correct answers view of the firm where effective organizational structure is
based on fit or alignment between the organization various aspects of the environment
environmental scanning correct answers tool that mangers use to scan the business horizon for
key events and trends that will affect the business in the future
human relations movement correct answers 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
leadership correct answers ability to drive change and innovation through inspiration and
motivation
management correct answers act of working with and thru a group of people to accomplish a
desired goal or objective in an efficient and effective manner
managerial view correct answers business framework where the firm is seen as a mechanism for
converting raw materials into products to sell to customers
scenario building correct answers forecasting the likely result that might occur when several
events and stakeholders are linked together
scientific management correct answers focus on how jobs, work, and incentive schemes could be
designed to improve productivity using industrial engineering methods
shareholder view correct answers business framework where the job of top mangers is to produce
the highest possible stock market valuation of the firm's assets
, stakeholder view correct answers business framework that attempts to organize and analyze
multiple groups that interact with the firm
strategic review process correct answers senior leaders of a corporation meet with business unit
managers to review progress toward specific goals
trend analysis correct answers tool where key variables are monitored and modeled to help
predict a change that might occur in the environment
board of directors correct answers group of individuals elected by the shareholders and charged
with overseeing the general direction of the firm
comparative advantage correct answers economic theory that proclaims countries should
specialize in producing goods for which they have the lowest opportunity cost of production
competitor correct answers any organization that creates goods or services targeted at a similar
group of customers
customers correct answers people or other organizations that buy a firm's products and services
economic dimension correct answers general economic environment in the markets where the
firm performs activities
employees correct answers people who make the products and provide the services that allow a
firm to exist
external environment correct answers external forces that affect the firm's business
general environment correct answers technological, economic, political/legal, and sociocultural
dimensions that affect a firm's external environment
globalization correct answers integration and interdependence of economic, technological,
sociocultural and political systems across diverse geographic regions
internal environment correct answers group of parties or factors that directly impact a firm,
including owners, the board of directors, employees and culture
legal dimension correct answers regulations and laws that a firm encounters in its markets
owners correct answers people or institutions that maintain legal control of an organization
political dimension correct answers political events and activities in a market that affect a firm
social values correct answers deeply rooted system of principles that guide individuals in their
everyday choices and interactions
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