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WGU C483 - Principles of Management Questions and answers | Latest 2024/25 RATED A+
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WGU C483 - Principles of Management Questions and answers | Latest 2024/25 RATED A+
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WGU C483 - Principles of ManagementQuestions and answers | Latest 2024/25
RATED A+
Accommodation - A style of dealing with conflict involving cooperation on behalf of the II II II II II II II II II II II II II II II
other party but not being assertive about one's own interests
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Accountability - The expectation that employees will perform a job, take corrective action
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when necessary, and report upward on the status and quality of their performance
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II Accounting audits - Procedures used to verify accounting reports and statements
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II Acquisition - One firm buying another II II II II II II II
Activity-based costing (ABC) - A method of cost accounting designed to identify streams
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of activity and then to allocate costs across particular business processes according to
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the amount of time employees devote to particular activities
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Adapters - Companies that take the current industry structure and its evolution as
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givens, and choose where to compete
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Adverse impact - When a seemingly neutral employment practice has a
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disproportionately negative effect on a protected group
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II Advertising support model - Charging fees to advertise on a site II II II II II II II II II II II II
II Affective conflict - Emotional disagreement directed toward other people
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II Affiliate model - Charging fees to direct site visitors to other companies' sites
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Affirmative action - Special efforts to recruit and hire qualified members of groups that
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have been discriminated against in the past
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After-action review - A frank and open-minded discussion of four basic questions aimed
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at continuous improvement
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Alderfer's ERG theory - A human needs theory postulating that people have three basic
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sets of needs that can operate simultaneously (Existence, Relatedness and Growth)
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II Arbitration - The use of a neutral third party to resolve a labor dispute
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Assessment center - A managerial performance test in which candidates participate in a
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variety of exercises and situations
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,II Assets - The values of the various items the corporation owns
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Authentic leadership - A style in which the leader is true to himself or herself while
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leading
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II Authority - The legitimate right to make decisions and to tell other people what to do
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Autocratic leadership - A form of leadership in which the leader makes decisions on his
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or her own and then announces those decisions to the group
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Autonomous work groups - Groups that control decisions about and execution of a
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complete range of tasks
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Avoidance - A reaction to conflict that involves ignoring the problem by doing nothing at
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all or deemphasizing the disagreement
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Balanced scorecard - Control system combining four sets of performance measures:
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financial, customer, business process, and learning and growth
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Balance sheet - A report that shows the financial picture of a company at a given time
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and itemizes assets, liabilities, and stockholders' equity
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II Barriers to entry - Conditions that prevent new companies from entering an industry
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Behavioral approach - A leadership perspective that attempts to identify what good
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leaders do—that is, what behaviors they exhibit
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Benchmarking - The process of comparing an organization's practices and technologies
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with those of other companies
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Bootlegging - Informal work on projects, other than those officially assigned, of
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employees' own choosing and initiative
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Boundaryless organization - Organization in which there are no barriers to information
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flow
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Boundary-spanning - Interacting with people in other groups, thus creating linkages
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between groups
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Bounded rationality - A less-than-perfect form of rationality in which decision makers
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cannot be perfectly rational because decisions are complex and complete information is
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unavailable or cannot be fully processed
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Brainstorming - A process in which group members generate as many ideas about a
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problem as they can; criticism is withheld until all ideas have been proposed
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, II Broker - A person who assembles and coordinates participants in a network
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Budgeting - The process of investigating what is being done and comparing the results
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with the corresponding budget data to verify accomplishments or remedy differences;
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also called budgetary controlling
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II Buffering - Creating supplies of excess resources in case of unpredictable needs
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II Bureaucratic control - The use of rules, regulations, and authority to guide performance II II II II II II II II II II II II II II
Business accelerators - Organization that provides support and advice to help young
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businesses grow
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Business ethics - The moral principles and standards that guide behavior in the world of
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business
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II Business incubators - Protected environments for new, small businesses
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Business plan - A formal planning step that focuses on the entire venture and describes
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all the elements involved in starting it
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Business strategy - The major actions by which a business competes in a particular
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industry or market
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Cafeteria benefit program - An employee benefit program in which employees choose
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from a menu of options to create a benefit package tailored to their needs
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II Carbon footprint - The output of carbon dioxide and other greenhouses gases
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Caux Principles - Ethical principles established by international executives based in
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Caux, Switzerland, in collaboration with business leaders from Japan, Europe, and the
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United States
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Centralized organization - An organization in which high-level executives make most
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decisions and pass them down to lower levels for implementation
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Certainty - The state that exists when decision makers have accurate and
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comprehensive information
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Charismatic leader - A person who is dominant, self-confident, convinced of the moral
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righteousness of his or her beliefs, and able to arouse a sense of excitement and
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adventure in followers
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Chief information officer (CIO) - Executive in charge of information technology strategy
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and development
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