Mgt 301 - Study guides, Class notes & Summaries

Management correct answers The pursuit of organizational goals efficiently and effectively. Organizations correct answers People who work together to achieve a specific purpose. Management (formal definition) correct answers (1)The pursuit of organizational goals efficiently and efficiently. (2)Integrating the work of people through (3) planning, organizing, leading, and controlling the organization's resources. Efficiency correct answers To use resources - people, money, raw ma...

"Operations" refers to manufacturing and service processes used to transform resources employed by a firm into products or other outputs desired by customers. True or False? correct answers False Best operating level is the output level at which the average unit cost of producing something (good or service) is minimized. True or False correct answers True Which of the following is a multifactor measure of productivity? Output / (Materials) Output / (Labor + Capital) Output...

Economies of scale correct answers When costs can be spread across increasing units of production or in serving multiple customers. Businesses that have favorable economies of scale (like many Internet firms) are sometimes referred to as being highly scalable Porter's 5 Forces correct answers Also known as Industry and Competitive Analysis. A framework considering the interplay between (1) the intensity of rivalry among existing competitors, (2) the threat of new entrants, (3) the threat of ...

Which one of the following is one way to think about management? correct answers the art of getting things done through people Even for nonprofits, sooner or later there will be no organization without correct answers customers. _______ is the discipline concerned with creating computer systems that simulate human reasoning and sensation. correct answers Artificial intelligence Cheyanne, the regional manager of a global sales organization, gives freedom to the sales representatives on t...

MGT 301 Exam #3 UK Kirn Verified Questions And Answers 2023/2024 Quiz MGT 301 Exam #3 UK Kirn Verified Questions And Answers 2023/2024 Quiz

The concentration/focus strategy correct answers have a single type of product. do one thing really well, better than anyone else. (mcD, walmart, coke) boeing's senior vice president of operations correct answers I have never fire anyone in 30 years for engineering failures, but only for human failures seven selection tools (for determining how well job applicants will perform in the future) correct answers 1. background 2. interviews(structured-more clear, unstructured-more revealing) ...

MGT 301 Final Exam NAU- Questions & Answers

Compute freight costs based on weight (in tons), distance and freight rate (based on full truck load or partial truck load): correct answers Freight cost = D x Wt x Rt D = Distance Wt = Annual weight in tons = R*w/2000 lbs/ton R = Rate (Freight cost in ton-miles) Compute inventory holding costs after determining average inventory: correct answers Annual Holding cost= (Q/2)kc = (order quantity/2)(holding cost)(purchase cost) Annual Order Cost= (R/Q)s = (annual requirements/order quantity...

management - CoRRect SoluTion attainment of organizational goals in an effective and efficient manner through planning, organizing, leading, and controlling organizational resources planning - CoRRect SoluTion defining performance goals and determining how to attain these goals organizing - CoRRect SoluTion assign tasks, grouping tasks into departments, and allocating resources to these departments leading - CoRRect SoluTion use of influence to motivate employees to achieve the orga...

What do we mean by Strategy? correct answers A set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors. What is the Strategic Management Process? correct answers AFI framework: Analysis--> Formulation--> Implementation What are two types of strategies? correct answers Intended: top-down, planned, projected from past, rigid, proactive, timed, formal Emergent: bottom-up, unplanned, unforseen, flexible, reactive, untimed, less formal ...