Competitive advantage correct answers the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them
Competitive advantage can be achieved by: correct answers Responsive to customers, Innovation, Quality, Efficiency
Conceptual skil...
MGT 300 Test 1 (Chapters 1-4) GUARANTEED PASS!!
Competitive advantage correct answers the ability of an organization to produce goods or
services more effectively than competitors do, thereby outperforming them
Competitive advantage can be achieved by: correct answers Responsive to customers,
Innovation, Quality, Efficiency
Conceptual skills correct answers the ability to think analytically, to visualize an organization
as a whole and understand how the parts work together
Controlling correct answers Monitoring performance, compare it with goals, and take
corrective action as needed
Decisional roles correct answers Managers use information to make decisions to solve
problems or take advantage of opportunities.
Effective correct answers to achieve results, to make the right decisions, and to carry them
out so that they achieve the organizations goals
Efficient correct answers to use resources— people, money, and materials effectively
Front-line manager correct answers make short-term operating decision, directing the daily
tasks of non-managerial personnel
Functional manager correct answers is responsible for just one organizational activity
General manager correct answers is responsible for several organizational activities
"High touch" jobs correct answers jobs when managers deal with people rather than computer
screens or voice-response systems
Informational roles correct answers managers as monitors, disseminators, and spokespersons
Interpersonal roles correct answers the roles in which managers interact with people inside
and outside their work units.
Knowledge management correct answers implementation of systems and practices to increase
the sharing of knowledge and information throughout an organization
Leading correct answers motivating, directing, and otherwise influencing people to work hard
to achieve the organization's goals
Management correct answers the pursuit of organizational goals efficiently and effectively by
integrating the work of people through planning, organizing, leading, and controlling the
organization's resources
Middle manager correct answers implement the policies and plans of the top managers above
them and supervise and coordinate the activities of the first-line managers below them
, Organizing correct answers arranging tasks, people, and other resources to accomplish the
work
Planning correct answers setting goals and decide how to achieve them
Soft skills correct answers the ability to motivate, to inspire trust, to communicate with others
Team leaders correct answers manager who is responsible for facilitating team activities
toward achieving key results
Technical skills correct answers the job-specific knowledge needed to perform well in a
specialized field
Top managers correct answers managers that determine what the organization's long-term
goals should be for the next 1-5 years with the resources they expect to have available
How do each of the four management functions operate? Provide an example. correct
answers Controlling- Monitor performance, compare it with goals, and take corrective action
as needed
Leading- motivating, directing, and otherwise influencing people to work hard to achieve the
organization's goals
Organizing- arranging tasks, people, and other resources to accomplish the work
Planning- setting goals and decide how to achieve them
How do each of the challenges outlined in the book affect managers? Provide an example?
correct answers Challenge 1: Managing for competitive advantage-staying ahead of rivals.
Ex: app based ride share services such as Uber taking over taxi business
Challenge 2: Managing for diversity- maximizing the contributions of employees diverse in
gender, age, and race.
Challenge 3: Managing for Globalization- managing across the world
Challenge 4: Managing the information technology—dealing with the "New Normal": the
challenge of managing for new technology affecting your business
Challenge 5: Managing for ethical standards- managers can find themselves confronting
ethical dilemmas with the pressure to meet sales, production, and other targets
Challenge 6: Managing for Sustainability- manager are limited on what they can do in terms
of changing climate and going green
Challenge 7: Managing for Happiness and Meaningfulness- managers struggle to be happy
and meaningful in their work or if they are promoted, struggle with the new change, they
aren't happy, but feel more meaningful
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ProPerfomer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.99. You're not tied to anything after your purchase.
