Mgmt 3000 lyons Study guides, Class notes & Summaries

Lyons MGMT 3000 Exam 2 Jeopardy Study Questions | Latest Update | 2024/2025 | Rated A+ What is the role of a mission statement in guiding organizational strategy? It defines the organization's purpose and serves as a foundation for strategic planning. How can managers use customer feedback to enhance service quality? By analyzing feedback to identify areas for improvement and make adjustments to meet customer expectations. What are the benefits of adopting a flat organizationa...

"Great Man" theory - explained leadership by examining the traits and characteristics of individuals considered to be historically great leaders Acquired needs theory - Individuals are driven or motivated by three types of needs: 1) Need for Achievement 2) Need for Affiliation 3) Need for Power Adjourning stage - Occurs when a team has completed its task and the team is disbanded Adjustment heuristic - Individuals make estimates or choices based on a certain starting point - first ...

MGMT 3000 (UGA LYONS) Chapter 5 | Latest Version | 2024/2025 | 100% Verified What is the primary focus of the planning function in management? Setting goals and determining the best way to achieve them. How does a mission statement influence strategic planning? It defines the organization's purpose and guides long-term objectives. What is the role of contingency planning in management? Preparing alternative courses of action for unforeseen events. What is the difference be...

Organizational Design - The formal systems, levers, and decisions an organization adopts or employs in pursuit of its strategy. Division of Labor - The manner in which work in a firm is divided among employees Vertical Specialization - How much an employee creates, executes, and administers activities in a certain area of the firm. Horizontal Specialization - The Breadth of activities that are performed in a certain job. Organizers - Those who believe that more control is warranted i...

MGMT 3000 Exam 1 (Lyons, UGA)correctly answered graded A+business environment - correct answer The combination of all contextual forces and elements in the external and internal environments of a firm. Leadership - correct answer The ability to drive change and innovation through inspiration and motivation The Pillars of Management - correct answer 1. Strategic Position 2. Organizational Design 3. Individual Leadership Components of strategy - correct answer 1. Managing trade offs 2....

Administrative costs - The costs of coordinating activities between a firm's business units. alliance - A structure where partners come together by contract to engage jointly in activities in a market. Alliances - A structure where partners come together by contract to engage jointly in activities in a market. backward integration - Occurs when a firm owns or controls the inputs it uses. bargaining power - The pressure that a supplier or buyer can exert on a company. barriers to entry - ...

MGMT 3000 - Final Exam Lyons question with correct answer 2023Great Man Theory - correct answer A theory of leadership that explained leadership by examining the traits and characteristics of individuals considered to be historically great leaders. Trait-based Leadership Theory - correct answer A theory of leadership that tries to reveal a set of universal traits and skills that are relevant in all leadership situations. Cognitive Skills - correct answer A leader's ability to understand t...

business environment The combination of all contextual forces and elements in the external and internal environments of a firm. Leadership The ability to drive change and innovation through inspiration and motivation The Pillars of Management 1. Strategic Position 2. Organizational Design 3. Individual Leadership Components of strategy 1. Managing trade offs 2. Choosing a set of activities 3. Creating fit Organizational Design Developing and aligning organiza...

contextual intelligence The ability to understand the impact of environmental factors on a firm and the ability to understand how to influence those same factors. management The act of working with and through a group of people to accomplish a desired goal or objective in an efficient and effective manner. leadership The ability to drive change and innovation through inspiration and motivation. bureaucratic organization structure A clear differentiation of tasks and resp...