WGU C483 - Principles of Management exam with complete solutions
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Course
WGU MGT
Institution
WGU MGT
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 q...
WGU C483 - Principles of Management
exam with complete solutions
Accommodation - ANSWER- A style of dealing with conflict involving cooperation
on behalf of the other party but not being assertive about one's own interests
Accountability - ANSWER- 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 - ANSWER- Procedures used to verify accounting reports and
statements
Acquisition - ANSWER- One firm buying another
Activity-based costing (ABC) - ANSWER- A method of cost accounting designed
to identify streams of activity and then to allocate costs across particular
business processes according to the amount of time employees devote to
particular activities
Adapters - ANSWER- Companies that take the current industry structure and its
evolution as givens, and choose where to compete
Adverse impact - ANSWER- When a seemingly neutral employment practice has a
disproportionately negative effect on a protected group
Advertising support model - ANSWER- Charging fees to advertise on a site
Affective conflict - ANSWER- Emotional disagreement directed toward other
people
Affiliate model - ANSWER- Charging fees to direct site visitors to other
companies' sites
,Affirmative action - ANSWER- Special efforts to recruit and hire qualified
members of groups that have been discriminated against in the past
After-action review - ANSWER- A frank and open-minded discussion of four basic
questions aimed at continuous improvement
Alderfer's ERG theory - ANSWER- A human needs theory postulating that people
have three basic sets of needs that can operate simultaneously (Existence,
Relatedness and Growth)
Arbitration - ANSWER- The use of a neutral third party to resolve a labor dispute
Assessment center - ANSWER- A managerial performance test in which
candidates participate in a variety of exercises and situations
Assets - ANSWER- The values of the various items the corporation owns
Authentic leadership - ANSWER- A style in which the leader is true to himself or
herself while leading
Authority - ANSWER- The legitimate right to make decisions and to tell other
people what to do
Autocratic leadership - ANSWER- A form of leadership in which the leader makes
decisions on his or her own and then announces those decisions to the group
Autonomous work groups - ANSWER- Groups that control decisions about and
execution of a complete range of tasks
Avoidance - ANSWER- A reaction to conflict that involves ignoring the problem
by doing nothing at all or deemphasizing the disagreement
Balanced scorecard - ANSWER- Control system combining four sets of
performance measures: financial, customer, business process, and learning and
growth
Balance sheet - ANSWER- A report that shows the financial picture of a company
at a given time and itemizes assets, liabilities, and stockholders' equity
,Barriers to entry - ANSWER- Conditions that prevent new companies from
entering an industry
Behavioral approach - ANSWER- A leadership perspective that attempts to
identify what good leaders do—that is, what behaviors they exhibit
Benchmarking - ANSWER- The process of comparing an organization's practices
and technologies with those of other companies
Bootlegging - ANSWER- Informal work on projects, other than those officially
assigned, of employees' own choosing and initiative
Boundaryless organization - ANSWER- Organization in which there are no
barriers to information flow
Boundary-spanning - ANSWER- Interacting with people in other groups, thus
creating linkages between groups
Bounded rationality - ANSWER- A less-than-perfect form of rationality in which
decision makers cannot be perfectly rational because decisions are complex and
complete information is unavailable or cannot be fully processed
Brainstorming - ANSWER- A process in which group members generate as many
ideas about a problem as they can; criticism is withheld until all ideas have been
proposed
Broker - ANSWER- A person who assembles and coordinates participants in a
network
Budgeting - ANSWER- The process of investigating what is being done and
comparing the results with the corresponding budget data to verify
accomplishments or remedy differences; also called budgetary controlling
Buffering - ANSWER- Creating supplies of excess resources in case of
unpredictable needs
Bureaucratic control - ANSWER- The use of rules, regulations, and authority to
guide performance
Business accelerators - ANSWER- Organization that provides support and advice
to help young businesses grow
, Business ethics - ANSWER- The moral principles and standards that guide
behavior in the world of business
Business incubators - ANSWER- Protected environments for new, small
businesses
Business plan - ANSWER- A formal planning step that focuses on the entire
venture and describes all the elements involved in starting it
Business strategy - ANSWER- The major actions by which a business competes
in a particular industry or market
Cafeteria benefit program - ANSWER- An employee benefit program in which
employees choose from a menu of options to create a benefit package tailored to
their needs
Carbon footprint - ANSWER- The output of carbon dioxide and other greenhouses
gases
Caux Principles - ANSWER- Ethical principles established by international
executives based in Caux, Switzerland, in collaboration with business leaders
from Japan, Europe, and the United States
Centralized organization - ANSWER- An organization in which high-level
executives make most decisions and pass them down to lower levels for
implementation
Certainty - ANSWER- The state that exists when decision makers have accurate
and comprehensive information
Charismatic leader - ANSWER- A person who is dominant, self-confident,
convinced of the moral righteousness of his or her beliefs, and able to arouse a
sense of excitement and adventure in followers
Chief information officer (CIO) - ANSWER- Executive in charge of information
technology strategy and development
Clan control - ANSWER- Control based on the norms, values, shared goals, and
trust among group members
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