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BUS208: Principles of Management - Saylor Direct Credit Final Exam
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BUS208: Principles ofManagement - Saylor Direct
Credit Final Exam
What is manager primary challenge? - -primary challenge is to solve
problems creatively,
-What is Principles of Management? - -means by which you actually
manage, that is, get things done through others—individually, in groups, or
in organizations.
-What do P-O-L-C stand for? - -P-O-L-C, planning, organizing, leading, control
-The fundamental notion of principles of management was developed by - -
Henri Fayol
-Strategic Management - -is the body of knowledge that answers questions
about the development and implementation of good strategies.
-strategy - -is the central, integrated, externally-oriented concept of how an
organization will achieve its objectives.
-environmental scanning - -means that planners must be aware of the
critical contingencies facing their organization in terms of economic
conditions, their competitors, and their customers
-tactical planning - -is intermediate-range (one to three years) planning that
is designed to develop relatively concrete and specific means to implement
the strategic plan.
-Strategy Planning - -involves analyzing competitive opportunities and
threats, as well as the strengths and weaknesses of the organization, and
then determining how to position the organization to compete effectively in
their environment.
-operational planning - -generally assumes the existence of organization-
wide or subunit goals and objectives and specifies ways to achieve them.
Operational planning is short-range (less than a year)
-organizational design - -Decisions made about the structure of an
organization
, -controlling - -involves ensuring that performance does not deviate from
standards.
-three steps of controlling - -(1) establishing performance standards, (2)
comparing actual performance against standards, and (3) taking corrective
action when necessary.
-Triple Bottom Line - -gaining so much attention in the business press
-self-enhancement bias - -The tendency to overestimate our performance
and capabilities and to see ourselves in a more positive light than others see
us.
-self-effacement bias - -The tendency to underestimate our performance
and capabilities, and to see events in a way that puts ourselves in a more
negative light.
-false consensus error - -How we as human beings overestimate how similar
we are to other people.
-Self-fulfilling prophecy - -This happens when an established stereotype
causes one to behave in a certain way, which leads the other party to
behave in a way that confirms the stereotype.
-selective perception - -means that we pay selective attention to parts of
the environment while ignoring other parts
-turnover - -harmful consequences, such as poor customer service and poor
company-wide performance. When employees leave, their jobs still need to
be performed by someone, so companies spend time recruiting, hiring, and
training new employees, all the while suffering from lower productivity. Yet,
not all turnover is bad.
-Frederick Winslow Taylor (Taylorism) - -Taylor described how productivity
could be greatly improved by applying the scientific method to management;
for this reason, the scientific approach is sometimes referred to as Taylorism.
-Warren Bennis - -Pioneered a new theory of leadership that addressed the
need for leaders to have vision and to communicate that vision.
-Frank Gilbreth and Lillian Moller Gilbreth, - -The Gilbreths then carefully
analyzed the motions and removed unnecessary ones. These motion studies
were preceded by timing each task, so the studies were called "time and
motion studies."
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