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GMS 200 – MIDTERM EXAM STUDY GUIDE SOLUTIONS

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GMS 200 – MIDTERM EXAM STUDY GUIDE SOLUTIONS Intellectual capital - ANSWER-Collective brainpower of a workforce that can be used to create value Resource inputs - ANSWER-People, money, materials, technology, information Transformation process - ANSWER-Work activities turn resources into outp...

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  • November 19, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • GMS
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SophiaBennett
GMS 200 – MIDTERM EXAM STUDY
GUIDE SOLUTIONS

Intellectual capital - ANSWER✔✔-Collective brainpower of a workforce that can be

used to create value


Resource inputs - ANSWER✔✔-People, money, materials, technology, information


Transformation process - ANSWER✔✔-Work activities turn resources into outputs


Product outputs - ANSWER✔✔-Finished goods and services


Organizations - ANSWER✔✔-People working together to achieve a common purpose


Value creation - ANSWER✔✔-When an organizations operations add value to the

original cost of resource inputs


Specific (task) environment - ANSWER✔✔-Organizations, groups, people that

organizations interact and conduct business with


Examples of specific (task) environment stakeholders - ANSWER✔✔-Customers,

suppliers, competitors, regulators, investors, owners


Competitive advantage - ANSWER✔✔-A core competency that sets an organization

apart from competitors and gives it an advantage over them


Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 1/16

,Examples of competitive advantages - ANSWER✔✔-Cost efficiency, higher quality,

better delivery, greater flexibility


Line managers - ANSWER✔✔-Responsible for work activities that directly affect

organizations outputs


Staff managers - ANSWER✔✔-Use technical expertise to advise and support the efforts

of line workers


Functional managers - ANSWER✔✔-Responsible for a single area of activity


General managers - ANSWER✔✔-Responsible for more complex units that include

many functional areas


Administators - ANSWER✔✔-Work in public and non profit organizations


Accountibility - ANSWER✔✔-Requirement of one person to answer to a higher

authority for relevant performance results


Quality of work life (QWL) - ANSWER✔✔-An indicator of overall quality of human

experiences in the workplace


Quality of work life examples - ANSWER✔✔-Fair pay, safe working conditions,

opportunities to learn and use new skills, room to grow and progress in a career,

protection of individual rights, pride in work and the organization




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/16

, Four functions of management - ANSWER✔✔-Planning, organizing, leading,

controlling


Planning - ANSWER✔✔-Setting performance objectives and deciding how to achieve

them


Organizing - ANSWER✔✔-Arranging tasks, people, and other resources to accomplish

the work


Controlling - ANSWER✔✔-Measuring performance and taking action to ensure desired

results


Leading - ANSWER✔✔-Inspiring people to work hard and achieve high performance


Informational roles - ANSWER✔✔-How a manager exchanges and processes

information


Interpersonal roles - ANSWER✔✔-How a manager interacts with other people


Decisional roles - ANSWER✔✔-How a manager uses information in decision making


Technical skill - ANSWER✔✔-Ability to apply expertise to perform particular tasks


Human/Interpersonal skill - ANSWER✔✔-Ability to work well with others


Emotional intellegence - ANSWER✔✔-Ability to manage ourselves and relationships

effectively




Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 3/16

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