MGMT 570 Exam 1 Questions and
Answers | Latest Update | 2024/2025 |
Already Passed
How does globalization affect business operations?
Globalization opens up new markets and opportunities for growth while also presenting
challenges such as increased competition and the need for cultural sen...
MGMT 570 Exam 1 Questions and
Answers | Latest Update | 2024/2025 |
Already Passed
How does globalization affect business operations?
✔✔Globalization opens up new markets and opportunities for growth while also presenting
challenges such as increased competition and the need for cultural sensitivity in operations.
What is the purpose of performance appraisals in human resource management?
✔✔Performance appraisals help assess employee contributions, provide constructive feedback,
and identify areas for professional development, fostering individual and organizational growth.
What are the key principles of effective negotiation?
✔✔Effective negotiation involves preparation, active listening, mutual respect, and a focus on
win-win outcomes to create lasting agreements that satisfy all parties involved.
What is the significance of a well-defined organizational structure?
✔✔A well-defined organizational structure clarifies roles and responsibilities, facilitates
communication, and enhances efficiency by establishing clear reporting lines and workflows.
1
,How do leadership styles influence organizational culture?
✔✔Different leadership styles, such as authoritative or democratic, can shape organizational
culture by determining how decisions are made and how employees are motivated and engaged.
What is the impact of technology on business processes?
✔✔Technology streamlines business processes, increases efficiency, and enables organizations
to adapt quickly to changes in the market and customer demands.
What is the significance of developing a mission statement for a company?
✔✔A mission statement articulates the organization’s purpose, guiding its strategies and
decisions while inspiring stakeholders to align with its goals.
How do external environmental factors impact business strategy?
✔✔External environmental factors, such as economic conditions, competition, and regulatory
changes, can significantly influence a business's strategic choices and market positioning.
What is the importance of employee engagement in organizational success?
✔✔Employee engagement is critical for enhancing productivity, reducing turnover, and fostering
a positive workplace culture, ultimately leading to improved organizational performance.
2
, How can effective communication enhance team collaboration?
✔✔Effective communication fosters transparency, builds trust among team members, and
encourages the sharing of ideas, which enhances collaboration and problem-solving capabilities.
What is the role of ethics in corporate governance?
✔✔Ethics in corporate governance ensures that organizations operate responsibly and
transparently, maintaining accountability to stakeholders and minimizing risks associated with
unethical behavior.
How does competitive analysis inform strategic planning?
✔✔Competitive analysis provides insights into market trends and competitor strengths and
weaknesses, enabling organizations to develop strategies that leverage their unique advantages.
What strategies can businesses implement to improve customer satisfaction?
✔✔Businesses can improve customer satisfaction by actively seeking feedback, personalizing
customer experiences, and resolving issues promptly to enhance overall service quality.
What are the primary functions of management?
3
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