Mgmt 310 Study guides, Class notes & Summaries

What is a market? correct answers a group of consumers who have purchasing power and unsatisfied needs What is market research? correct answers the gathering of information about a particular market, followed by analysis of that information What questions do we want answered when conducting market research? correct answers Who, What, When, Where, Why, How Why don't all companies do market research? correct answers cost, complexity, strategic decisions, irrelevancy Secondary Data cor...

Defining Entrepreneurship correct answers -One who undertakes to organize, manage, and assume the risks of a business -The process of creating value by bringing together a unique package of resources to exploit an opportunity -Pursuit of opportunity w/o regard to resources currently controlled Is ent. teachable? correct answers -In the past, the answer was no -Entrepreneurship holds to a common process -That process is teachable, and there are common skills underlying it Is ent. th...

Manager correct answers Someone who coordinates and oversees the work of other people so that organizational goals can be accomplished Levels of Management correct answers top, middle, first line, non managerial employees. managed in that order organization correct answers a deliberate arrangement of people to accomplish some specific purpose Efficiency correct answers doing things right, getting most output from least input Effectiveness correct answers doing the right things, attai...

What is a team? correct answers A team consists of two or more people who work interdependently over some time period to accomplish common goals related to some task-oriented purpose · How is a team different from a group? correct answers A team has a common purpose, a group coordinates their individual efforts What is a social dilemma? correct answers Collective interest at odds with private interests What are the five general types of teams, and how are they distinct from one another...

Which of the following best defines corporate-level strategy? correct answers The way a company seeks to create value through the configuration and coordination of multimarket activities Which of the following statements is true about strategy formulation? correct answers Managers should engage in environmental scanning on an ongoing basis. Which of the following is the most important skill of a middle manager? correct answers Interpersonal skills such as motivating and developing teams ...

Manager correct answers Someone who coordinates and oversees the work of other people so that organizational goals can be accomplished Levels of management correct answers 1. Non managerial employees 2. First-line managers 3. Middle managers 4. Top managers First-line managers correct answers Manage the work of non-managerial employees Middle managers correct answers Manage the work of first-line managers Top managers correct answers Responsible for making organization-wide decisi...

competes, resources, customers, value correct answers business model: a business' plan or diagram for how it _____, uses its _____, structures its relationships, interfaces with _____, and creates ____ to sustain itself feasibility, elements, logic correct answers a business model is important because it serves as an ongoing extension of _____ analysis (does this business make sense?), it focuses attention on how all the ___ of a business fit together and constitute a working whole, describe...

A firm's strategic choices and leadership approaches need to A)adapt and change to retain their relevance. B)steer clear of cultural and socioeconomic influences. C)be rigid and concrete to be effective. D)be independent of each other. correct answers A)adapt and change to retain their relevance. A popular acronym that captures the context in which today's organizations compete is A)CAVY. B)CACU. C)VICA. D)VUCA. correct answers D)VUCA. Which of the following actions is more l...

Organization correct answers a collection of people who work together and coordinate their actions to achieve individual and organizational goals organizational behavior correct answers provides a set of tools that allow people to: understand, analyze and describe behavior; managers to improve, enhance or change work behaviors so that individuals, groups and the whole org can achieve their goals three levels of organizational behavior correct answers individual group organization grou...

MGMT 310 Exam 1 Questions And Answers (Verified And Updated) Organization - answera collection of people who work together and coordinate their actions to achieve individual and organizational goals organizational behavior - answerprovides a set of tools that allow people to: understand, analyze and describe behavior; managers to improve, enhance or change work behaviors so that individuals, groups and the whole org can achieve their goals three levels of organizational behavior - answeri...