Mgmt 3000 - Study guides, Class notes & Summaries

MGMT 3000 GUHDE EXAM 1

entrepreneurship (4) - Answer-1. process of *initiating* a business venture 2. organizing the necessary *resources* 3. assuming the associated *risks* 4. enjoying the *rewards* how many employees do most small businesses have? - Answer-none 5 types of small business owners - Answer-1. idealists 2. optimizers 3. hard workers 4. jugglers 5. sustainers idealists - Answer-rewarded by chance to work on something new and creative optimizers - Answer-get personal satisfaction from be...

Quality is best defined as Blank______. - the excellence of a product, whether it be goods or services The introduction of new goods and services is known as Blank______. - innovation Select the components that are part of total quality management. (Select every correct answer.) - preventing defects before they occur,achieving zero defects in manufacturing,designing products for quality,operating with a philosophy of continuous improvement Blank______ across boundaries occurs even beyon...

Management - getting work done through others Organizational Strategy - A corporate-level strategy that addresses the question "What business are we in?" and unites all parts of the organization. -Recognize threats and opportunities -Lead and organize resources to effectively compete in the marketplace -Accurately assessing and effectively responding to your environment is the threshold task - Understanding of contextual landscapes depends on a firms ability to... -Strengths -Weakn...

Competitive Landscape - GLOBALIZATION TECHNOLOGY CHANGE COLLABORATION KNOWLEDGE MANAGEMENT GLOBALIZATION - Corporations operate worldwide, transcending national borders by tapping international markets TECHNOLOGY CHANGE - Engagement in artificial intelligence (AI) and machine learning, data protection, 5G etc. The internet can be a threat and business opportunity. AI can interfere between humans and technology and society COLLABORATION - Requires productive communications among diffe...

entrepreneurship (4) - 1. process of *initiating* a business venture 2. organizing the necessary *resources* 3. assuming the associated *risks* 4. enjoying the *rewards* how many employees do most small businesses have? - none 5 types of small business owners - 1. idealists 2. optimizers 3. hard workers 4. jugglers 5. sustainers idealists - rewarded by chance to work on something new and creative optimizers - get personal satisfaction from being business owners hard workers...

Business is all about what? - Results and achieving them the right way What is the Global Business System? - Business is a global system of interdependent and interconnected parts Every job in some way is related to what 4 financial measures? - - How is Revenue impacted? - How is Cost impacted? - How is Cash FlowImpacted? - How is Break-Even impacted? Purpose of BOE Financials? - To quickly understand the financial results of a business in order to take action where appropriate To h...

"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 CH. 2 EXAM QUESTIONS WITH 100% CORRECT ANSWERS 2024/2025 Peter Drucker is credited with providing the first modern handbook on the subject of ______. sales production finance management D Select the two overarching perspectives about management: A.historical B.classical C.quantitative D.behavioral E.contemporary A,E What are the two branches of the classical viewpoint of management? A.behavioral B.administrative C.scientific D. contingency B,C Scientif...

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...