MANA 3319 Test 1 Questions and Answers
4 Major challenges of managing in the new competitive landscape
1. Globalization
2. Technological Change
3. Importance of knowledge and ideas
4. Collaboration across organizational boundaries
How has the internet impacted businesses? (4)
1. The ma...
MANA 3319 Test 1 Questions and
Answers
4 Major challenges of managing in the new competitive landscape - answer 1.
Globalization
2. Technological Change
3. Importance of knowledge and ideas
4. Collaboration across organizational boundaries
How has the internet impacted businesses? (4) - answer 1. The marketplace
2. Means of manufacturing goods and services
3.Distribution channel
4. An information service.
What are the sources of competitive advantage? (6) - answer 1. Innovation
2. Quality
3. Service
4. Speed
5. Cost Competitiveness
6. Sustainability
Define Innovation - answer The introduction of new goods and services..
-Adapt to changes in consumer demands and to new competitors.
-Be ready with new ways to communicate with customers and deliver the products to
them.
Define Quality - answer The excellence of your product (goods or services). This
refers to attractiveness, lack of defects, reliability, and long-term dependability.
-Ex.: Product performance, customer service, reliability, conforming to standards,
durability, aesthetics.
Define Service - answer The speed and dependability with which an organization
delivers what customers want.
-Focused on continually meeting the needs of customers to establish mutually beneficial
long-term relationships.
Define speed - answer Fast and timely execution, response, and delivery.
Define cost competitive - answer Keeping costs low to achieve profits and be able to
offer prices that are attractive to consumers.
, Total quality Management - answer A management technique that requires
*preventing* defects before they occur, *achieving zero defects* in manufacturing, and
*designing* products for quality.
-Adopt an attitude of continuous improvement
-Managers must help employees embrace change.
Knowledge management - answer Practices aimed at discovering and harnessing an
organization's intellectual resources.
4 Functions of management - answer 1.*Planning* : Delivering Strategic Value
2.*Organizing*: Building a Dynamic Organization
3.*Leading*: Mobilizing People
4.*Controlling*: Learning and Changing
Planning - answer The management function of systematically making decisions
about the goals and activities that an individual, a group, a work unit, or the overall
organization will pursue.
Value - answer The monetary amount associated with how well a job, task, good, or
service meets users' needs.
Organizing - answer The management function of assembling and coordinating
human financial, physical, informational, and other resources needed to achieve goals.
Leading - answer The management function that involves the manager's efforts to
stimulate high performance by employees.
Controlling - answer The management function of monitoring performance and
making needed changes.
Top-Level Managers - answer -Senior executives responsible for the overall
management and effectiveness of the organization.
-Overall strategic direction; Face of the company
Middle-level Managers (tactical managers) - answer -Managers located in the middle
layers of the organizational hierarchy, reporting to top-level executives
-Break down larger strategic goals into manageable targets for business unites.
Frontline Managers - answer Lower-level managers who supervise the operational
activities of the organization.
-Ex. Supervisor, sales manager
-First management position will probably fit here.
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 or Stuvia-credit 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 Pogba119. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
