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7.1: Review Questions

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    114262

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    Review:

    1. This is the fourth step in the Deming cycle, a model directed towards attaining continuous improvement. Once completed, managers should return to the first stage in the cycle.

    2. The process of generating as many ideas as possible in a group.

    3. A firm is described as having this when it successfully attracts more customers, earns more profit, or returns more value to its shareholders than rival firms do.

    4. This type of bias involves the tendency to pay attention to information that confirms our existing beliefs and to ignore or discount information that conflicts with our existing beliefs.

    5. This function of management involves monitoring performance and making adjustments to ensure goals are met.

    6. This is one of the three main roles that managers play, whereby managers are charged with the responsibility of making decisions.

    7. Type of intelligence with the ability to understand and manage emotions in oneself and in others.

    8. This is part of the Decisional Role that managers play, whereby managers initiate projects that lead to improvements.

    9. This type of organizational structure is one of the earliest and most used organizational designs. It is organized by departments and expertise areas.

    10. This chart was developed by Henry Gantt to manage the production process.

    11. This movement was a natural reaction/response to issues that resulted from previous theories of management.

    12. A group of firms all offering products or services in a single category, for example restaurants or athletic equipment.

    13. This is the innermost layer of a firm’s competitive environment, including members of the firm itself, such as owners, managers, and employees.

    14. This is part of the Interpersonal Role that managers play, whereby managers motivate, train, counsel, communicate, and direct subordinates.

    15. This is a planning and controlling technique, whereby managers and their employees work collaborative to identify goals, define expected results, and assess contributions.

    16. This organizational structure is best suited for environments that have a formal "pyramid" structure. A narrow span of control and formal rules are common.

    17. Porter's Five Forces is a tool that is commonly used to analyze an organization's industry, which is referred to as their _______________ environment.

    18. This function of management involves developing an organizational structure and allocating human resources to ensure the objectives are met.

    19. The function of management involves setting objectives and determining the course of action for achieving those objectives.

    20. Things a firm has, such as cash and skilled employees, that it can use to create products or services.

    21. Individuals or groups who are impacted by the organization & include owners, employees, customers, suppliers, and members of the community.

    22. These plans address the organization's institutional-level needs. They outline a long-term vision for the organization.

    23. Strategic analysis tool used to examine a firm’s situation by looking at its strengths, weaknesses, opportunities, and threats.

    24. Part of PESTEL that includes factors such as the Internet, social media, automation, and other innovations.

    25. This component of SWOT is used to identify what an organization is not good or does not have the capabilities to perform well.

    This page titled 7.1: Review Questions was last modified on Mon, 18 Nov 2024 20:08:51 GMT and is shared under a CC BY 4.0 license and was authored, remixed, and/or curated by Jamie Hammond and Mabel Gehrett and Western Technical College.