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MGT 103 LO Chapter 1-4 Questions And Answers $14.99
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MGT 103 LO Chapter 1-4 Questions And Answers
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MGT 103 LO Chapter 1-4 Questions And Answers Organization Is a legal entity that consists of people who share a common mission It develops offerings (goods, services, and ideas) that create value for both organization and customers Three types of organizations 1) For profit organization serv...

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  • October 23, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt 103 lo chapter 1 4 questions and answers

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MGT 103 LO Chapter 1-4 Questions And
Answers

Organization Is a legal entity that consists of people who share a common mission




It develops offerings (goods, services, and ideas) that create value for both organization and

customers




Three types of organizations 1) For profit organization serves its customers to earn a profit

so that it can survive.




2) Non-profit organization is a non gov. organization that serves its customers but does not have

profit as an goal. Goals may be client satisfaction




3)Government Agencies is a federal, state, county or city unit that provides a specific service to

its constituents

, MGT 103 LO Chapter 1-4 Questions And
Answers
For profit and non-profit organizations are divided into three levels of strategy a)

coroporate level, where top managment directs overall strategy for the entire organization

b) strategic business unit level, where managers set a ore specific direction for their businesses to

explout value creating opportunities

c) Functional level, where groups of specialist actually create value for the organization




Organization To give organization focus and direction, they continue to assess their core

values, mission, organization culture, business, and goals




Core Values of an organization core values are the organization's fundamental, passionate

and enduring principles that guide its conduct over time




Organization's mission Organizations mission is a statement of its function in society,

often identifying its customers, markets, products and technologies




Organization's culture is a set of values, ideas, attitudes, and norm of behavior that is

learned and shared among the members of an organization

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