Exam (elaborations)
GMS 200 – MIDTERM EXAM QUESTIONS AND ANSWERS
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GMS 200 – MIDTERM EXAM QUESTIONS AND ANSWERS
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GMS 200 – MIDTERM EXAM QUESTIONSAND ANSWERS
Intellectual capital - Answer -Collective brainpower of a workforce that can be used to
create value
Resource inputs - Answer -People, money, materials, technology, information
Transformation process - Answer -Work activities turn resources into outputs
Product outputs - Answer -Finished goods and services
Organizations - Answer -People working together to achieve a common purpose
Value creation - Answer -When an organizations operations add value to the original
cost of resource inputs
Specific (task) environment - Answer -Organizations, groups, people that organizations
interact and conduct business with
Examples of specific (task) environment stakeholders - Answer -Customers, suppliers,
competitors, regulators, investors, owners
Competitive advantage - Answer -A core competency that sets an organization apart
from competitors and gives it an advantage over them
Examples of competitive advantages - Answer -Cost efficiency, higher quality, better
delivery, greater flexibility
Line managers - Answer -Responsible for work activities that directly affect
organizations outputs
Staff managers - Answer -Use technical expertise to advise and support the efforts of
line workers
Functional managers - Answer -Responsible for a single area of activity
, General managers - Answer -Responsible for more complex units that include many
functional areas
Administators - Answer -Work in public and non profit organizations
Accountibility - Answer -Requirement of one person to answer to a higher authority for
relevant performance results
Quality of work life (QWL) - Answer -An indicator of overall quality of human
experiences in the workplace
Quality of work life examples - Answer -Fair pay, safe working conditions, opportunities
to learn and use new skills, room to grow and progress in a career, protection of
individual rights, pride in work and the organization
Four functions of management - Answer -Planning, organizing, leading, controlling
Planning - Answer -Setting performance objectives and deciding how to achieve them
Organizing - Answer -Arranging tasks, people, and other resources to accomplish the
work
Controlling - Answer -Measuring performance and taking action to ensure desired
results
Leading - Answer -Inspiring people to work hard and achieve high performance
Informational roles - Answer -How a manager exchanges and processes information
Interpersonal roles - Answer -How a manager interacts with other people
Decisional roles - Answer -How a manager uses information in decision making
Technical skill - Answer -Ability to apply expertise to perform particular tasks
Human/Interpersonal skill - Answer -Ability to work well with others
Emotional intellegence - Answer -Ability to manage ourselves and relationships
effectively
Conceptual skill - Answer -Ability to think critically and analytically to solve complex
problems
Knowledge worker - Answer -Someone whose value to the organization rests with
intellect not physical capabilities
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