Definitions
What is a Mission Statement?
Describes the purpose of your organization – the reason it exits.
What are some managerial roles?
planning, organizing, leading, and controlling
what is the difference between a feature and a benefit
A feature is a physical or tangible component that enhances the value of a product or service. A benefit is the advantage the consumer gains in order to accomplish their goal.
What Is Organizational Culture?
System of shared assumptions, values, and beliefs that show employees what is appropriate and inappropriate behaviour. These values have a strong influence on employee behaviour as well as organizational performance.
What does it mean to have communication/time management skills in a workplace
Having both oral and in writing communication skills are extremely important for everyone in the workforce
Time: being able to manage all your tasks in your role
Difference between managerial roles and managerial skills
Managerial Roles: planning, organizing, leading, and controlling
Managerial Skills: strong interpersonal and conceptual skills, organization
What is the management process?
Planning -> Organizing -> Leading -> Controlling
Why Does Organizational Culture Matter?
Most critical for a business’s success and can be related to increased success. An organization’s culture may be one of its strongest assets, as well as its biggest liability. Organizational culture is an effective control mechanism for dictating employee behaviour.
Time management skills vs decision making skills
Time-Management Skills: being able to manage all your tasks in your role
Decision-Making Skills: define a problem, analyze possible solutions, select the best outcome.
What is benchmarking?
Benchmarking aims to improve a firm’s overall performance
What is the Five-Step control Process
Set the standards by which performance will be measured, Measure performance, Compare actual performance with the standard and identify any deviations from the standard, Determine the reasons for the deviation, Take corrective action if needed.
What is the difference between departmentalization and delegation
delegation: Assigning authority and responsibilities
departmentalization: Grouping jobs and employees
Specific, Measurable, Attainable, Relevant, Time Based
What does it mean to have interpersonal skills
you can’t do everything yourself: you’ll have to rely on other people to help you achieve the goals for which you’re responsible therefore you need good people skills to build you relations
How do you conduct a SWOT analysis?
You analyze an organization’s Strengths, Weaknesses, Opportunities, and Threats.