MGMT
This measures how productively resources are used to achieve a goal.
What is efficiency?
This is the tendency to be outgoing, sociable, and energetic.
What is extraversion?
These are decisions made routinely using rules or guidelines developed from past experience.
What are programmed decisions?
This planning tool identifies an organization’s strengths, weaknesses, opportunities, and threats.
What is a SWOT analysis?
These are the people and groups that supply an organization with resources and have a stake in its success.
Who are stakeholders?
This measures whether an organization chooses appropriate goals and achieves them.
What is effectiveness?
This personality trait describes being careful, scrupulous, and persevering.
What is conscientiousness?
This is a situation in which someone must decide whether to do what is right, even if it conflicts with their self-interest.
What is an ethical dilemma?
This environment includes suppliers, distributors, customers, and competitors that affect an organization’s operations.
What is the task environment?
This corporate strategy expands a company’s operations into a new industry to produce new kinds of goods or services.
What is diversification?
An organization has chosen the right goals but wastes resources while pursuing them. This describes this combination of performance.
What is high effectiveness and low efficiency?
This is the personality trait involving a tendency to experience negative emotions, feel distressed, and be critical of oneself or others.
What is negative affectivity?
A company automatically orders materials whenever inventory reaches a set level. This is an example of this kind of decision.
What is a programmed decision?
A company contracts with suppliers in other countries to make components or assemble its products, often to reduce costs.
What is global outsourcing?
This formal, written guide tells employees what action to take in a specific situation.
What is a rule?
Managers choose the right goals and use resources well, producing a product customers want at a price they can afford. This describes this performance level.
What is high efficiency and high effectiveness?
Managers cannot determine the probabilities of possible outcomes, and future outcomes are unknown. They are making decisions under this condition.
What is uncertainty?
A company buys the supplier that provides its raw materials. This is an example of this corporate-level strategy.
What is backward vertical integration?
A company reduces its production costs below those of its industry rivals to gain an advantage. It is pursuing this strategy.
What is a low-cost strategy?
A manager bases decisions on an existing belief despite evidence showing that the belief is wrong. This is an example of this bias.
What is confirmation bias?
A company has the right goals, but its poor use of resources makes the product too expensive for customers to buy. This describes this combination.
What is low efficiency and high effectiveness?
This group of stakeholders is responsible for deciding which goals an organization should pursue and how to use resources to achieve them efficiently.
Who are the managers?
A manager selects an acceptable solution rather than searching for the best possible one. This decision-making approach is called this.
What is satisficing?
A company focuses on distinguishing its products from competitors’ products through features such as design, quality, or service. It is pursuing this strategy.
What is a differentiation strategy?
A company’s sales fall, and its manager blames employees despite evidence that a competitor’s better product is the cause. The manager continues acting on that belief. This bias is shown.
What is confirmation bias?