Organization correct answers A formal arrangement of the jobs and activities within the company
Management correct answers Coordinating and overseeing the activities and resources of the organization in such a way so as to achieve mutually beneficial results
Effective - Goal, Attainment, Achi...
MGT 371 Exam 1 (Robbins) (Mississippi College)
ANSWERS 100% CORRECT!!
Organization correct answers A formal arrangement of the jobs and activities within the
company
Management correct answers Coordinating and overseeing the activities and resources of the
organization in such a way so as to achieve mutually beneficial results
Effective - Goal, Attainment, Achievement
Efficiency - Use of resources correct answers Goals of Management: Effective and Efficient
Planning
Organizing
Leading
Controlling correct answers 4 functions of management
Top Level or Corporate - Responsible for the long term growth and survival of the entire
cooperation
Middle Manager - Bridge between operational and corporate
First-Line or Operational Manager - Directly supervise or coordinate the activities of
employees or a particular department correct answers Levels of managers or management
Informational
Interpersonal - Interactions between persons (Example - Conflict resolver)
Decisional correct answers 3 Basic Roles of the manager
External Environment correct answers Everything outside of the company (Uncontrollable)
Internal Environment correct answers Everything inside of the company (Controllable)
General (Indirect or Lag Effect)
Task or specific (Direct or immediate effect) correct answers Two Parts of the external
environment
Economic
Technology
, Political-Legal (Any federal, state, or local law which affects the business as well as the
various regulatory agencies)
Sociocultural (Any trend in society that impacts its people as well as the influence of
demographics)
International correct answers Components of general environment
Competitors
Customers (Intra - Within the industry) (Inter - Outside the industry)
Suppliers
Strategic Partners (When two companies come together to pursue a venture) correct answers
Components of Task Environment
Organizational Culture correct answers Component of Internal Environment
Organizational Culture correct answers A system of shared identity within the organization.
Sam Walton - Walmart / Wanted to provide a service / Humble
Bill Gates - Microsoft / Kick rival in mouth correct answers Determinants of origin of
organization culture: founder
Stable
Dynamic - Very Competitive / Spend a lot of money of research, development, and
advertising correct answers Environmental Change: Stable and Dynamic
Simple - Wooden Pencil / Not many parts
Complex - Mustang / Many parts correct answers Environmental Complexity: Simple and
Complex
Threat of new entrance
Competitive rivalry
Bargaining power of buyers
Bargaining power of suppliers
Threat of substitute products correct answers 5 competitive forces that affect an environment;
Michael Porter
Boundary Spanners correct answers Employee in the company that has a direct contact with
the customer and or the process
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