Managing and Performing
One example of the types of roles managers play.
What are interpersonal, informational or decisional
These are all the individuals or groups that are affected by an organization (such as customers, employees, shareholders, etc.)
Who are Stakeholders
THIS is applied ethics that focuses on real-world situations and the context and environment in which transactions occur—How should we apply our values to the way we conduct business?
These make up the EXTERNAL components of SWOT.
What are opportunities and threats?
This is an expression of what a business’s founders want that business to accomplish. — it is simply a sentence or two that states why the business exists.
What is Vision?
One of the levels of management.
What are executive, first line or middle
The human brain processes information for decision-making using one of these two routes.
What are REFLECTIVE and REACTICE
These are desired goals or objectives.
What are Terminal Values?
Part of PESTEL that includes facts about the income, education, age, and ethnic and racial composition of a population.
What are demographics?
This takes the "why" of a vision statement and gives a broad description of how the firm will try to make its vision a reality.
What is Mission
These level of managers traditionally require more conceptional skills.
What are Executives.
Mental shortcuts that allow a decision maker to reach a good decision quickly. They are strategies that develop based on prior experience.
What are heuristics.
These are preferred means of behavior used to obtain those goals.
What are Instrumental Values
The five components of Porter's 5 forces.
What are:
Industry Rivalry
Supply Power
Buyer Power
Threat of new Entants
Threat of Substitutes
These are the Levels of Strategies.
What are Business, Corporate and International Strategies?
The process of planning, organizing, directing, and controlling the activities of employees in combination with other resources to accomplish organizational goals.
The tendency of a group to reach agreement very quickly and without substantive discussion.
What is groupthink?
This principle basically holds that an action is morally right if it produces the greatest good for the greatest number of people. Or the "ends justify the means."
What is utilitarianism?
An example of this PESTEL factor could be: Political pressure on businesses to reduce their impact on the natural environment has increased globally and dramatically in the 21st century.
What are Environmental Factors
In the BCG matrix, these are business units that have high market share in a market that is not growing.
What are cash cows?
THESES include long-range planning, controlling, environmental scanning, supervision, coordination, customer relations, community relations, internal consulting, and monitoring of products and services.
What are Managerial Responsibilities
Two Examples of the decision making Steps
What are:
Name one of the four tenets of Justice
What are:
(1) All individuals should be treated equally
(2) Justice is served when all persons have equal opportunities and advantages
(3) Fair decision practices, procedures, and agreements among parties should be practiced
(4) Punishment is served to someone who inflicts harm.
These makes up the components of PESTEL?
What are:
Political, Economic, Sociocultural, Technological, Environmental and Legal
This is what SMART goals stand for.
What are:
Strategic
Measurable
Achievable
Relevant
Time-Bound