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GMGT 2060 Midterm Exam Questions with 100% Correct Answers

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GMGT 2060 Midterm Exam Questions with 100% Correct Answers Why are organizations changing? - Answer--because the world around them is changing -societal, economical, political,global and technological changes have created an environment in which successful organization must embrace new ways o...

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  • December 23, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • GMGT 2060
  • GMGT 2060
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GMGT 2060 Midterm Exam
Questions with 100%
Correct Answers
Why are organizations changing? - Answer--because the world around them is
changing
-societal, economical, political,global and technological changes have created an
environment in which successful organization must embrace new ways of getting work
done

What makes a successful entrepreneur? - Answer-There is no set formula, but common
traits include optimism, dedication, persistence, and leadership. Most entrepreneurs are
innovative, determined and hardworking. They enjoy the freedom of being their own
boss

The external environment faced by an organization can be divided into 3 subcategories:
- Answer-1) specific environment
2) general environment
3) global environment

Define specific environment - Answer-The part of the external environment that is
directly relevant to the achievement of an organization's goal

Define general environment - Answer-Broad external conditions that may affect the
organizations

What is the STEPE analysis? - Answer-Socio culture and demographic
Technology
Economical
Politico legal
Ecological

Define demographical - Answer-study of peoples age, sex, ethnicity, education, income,
etc.

, What years are baby boomers - Answer-born between 1946 - 1965

Describe Baby Boomers - Answer-Have started management and political leadership
positions on the other hand so the policies being created for the last so many years and
in the immediate future still are the ones that favour them. Mostly remained in one job
all throughout their life, so they have brad loyalty. Also are very head strong and
opinionated, and do not want to be seen as old.

What years are gen x - Answer-born between 1966-1977

Describe Gen X - Answer-Not brand loyal at all
Use technology for professional advancement
Pragmatic
Flexible

What year are Millennials - Answer-born between 1976-1995

Describe Millennials - Answer-They were thought to be the most entitled class..... they
are a very big group in line with the baby boomers. They are mostly children of baby
boomers.
Can live without food but not without their smartphone
They believe in saving money and show investment savvy

In Canada, people over the age of 55 control ...... - Answer-75% of the Canadian
Wealth

About 100 years ago, 95% of canadians lived in __________ areas. Today about 95%
of Canadians live in __________ areas. - Answer-rural ; urban

Describe Families - Answer-canadians live in nuclear or complete family units with 2
parents and children. The 2 parents might be both biological but chances are that at
least 1 parent is step parent for 50% of these types of house holds

What are all the types of "families" - Answer-Family
same sex marriage
single parent households (poorest)
couples living together w/out getting married
For the first time we are noticing people in their 40's living by themselves and never
been married

Describe Socio Cultural - Answer-Multiple ethnicities
3 major groups; anglo, franco and aborigine Canadian and everyone else
We celebrate diversity through folklorama type of festivities
We respect the rights of other people existence that said we still in most cases tolerate
others

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