Study guides, Class notes & Summaries

organization chart The reporting structure and division of labor in an organization vertical structure deals with issues of authority, reporting relationships and responsibility horizontal structure deals with actual structure of an organization and departmentalization. Differentiation the idea that an organization is composed of various units that work on varying tasks using different skill and methods. divison of labor dividing work into smaller tasks and assig...

Accommodation A style of dealing with conflict involving cooperation on behalf of the other party but not being assertive about one's own interests Accountability The expectation that employees will perform a job, take corrective action when necessary, and report upward on the status and quality of their performance Accounting audits Procedures used to verify accounting reports and statements Acquisition One firm buying another Activity-based costing (ABC) A met...

A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? Delivery of products or services what happens when an effective value chain is created profit margins are increased industry and market, competitor analysis, and social analysis are examples of which step in strategic planning process Analysis of external opportunities and threats Skilled management, positive cash flow, and well-known brands are examples o...

What is Total Quality Management? overview- The graduate can describe how to establish a total quality management program in a product operation and in a service operation. TQM is is the integrative approach to management that supports the attainment of customer satisfaction through a wide variety of tools and techniques that result in high quality goods and services. The Quality gurus we'll focus on Edward Deming. It's primarily the holistic approach to quality. -So just keep t...

1.)The planning level with the shortest time horizon is known as _____ planning. A)operational B)tactical C)managerial D)developmental E)vertical A 2.)The planning process is similar to the _____ process in that both have a series of steps that are typically repeated in a cycle. A)strategy-mapping B)tactical alignment C)goal-setting D)decision-making E)environmental analysis D 3.)In a SWOT analysis, the absence of reliable suppliers would be considered as a(n): A)weakn...

Conceptual and Decision Skills Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members Controlling The management function of monitoring performance and making needed changes Cost Competitiveness Keeping costs low to achieve profits and be able to offer prices that are attractive to consumers Emotional Intelligence The skills of understanding yourself, managing yourself, and dealing effectively with others ...

Entrepreneurship occurs when an enterprising individual pursues a lucrative opportunity Creating value is a central objective of entrepreneurship, small business is often defined as having fewer than 100 employees, being independently owned and operated, not dominant in its field, and not characterized by many innovative practices Myths about Entrepreneurs Entrepreneurs are born, not made. Anyone can start a business. Entrepreneurs are gamblers. Entrepreneurs wa...

1.)The planning level with the shortest time horizon is known as _____ planning. A)operational B)tactical C)managerial D)developmental E)vertical A.) Operational 2.)The planning process is similar to the _____ process in that both have a series of steps that are typically repeated in a cycle. A)strategy-mapping B)tactical alignment C)goal-setting D)decision-making E)environmental analysis D.) Decision-making 3.)In a SWOT analysis, the absence of reliable suppliers would...

WGU C483 - Principles of Management chapter 2.3 exam questions and answers.

WGU C483 - Principles of Management chapter 2.3 exam questions and answersWhat designates those who take hands-on responsibility for creating innovation such as new ideas, products, or methods within an organization? Intrapreneur Why is innovation an important element of entrepreneurship? Creates unique and different products or services Most successful entrepreneurs exhibit certain characteristics. Some entrepreneurs are open-minded, able to learn quickly, and skilled at concept...