Chapter 1 & 2
The four functions of management.
What is planning, leading, organizing, & controlling.
Statistical characteristics of a group or population such as age, gender, and education level.
What is demographics?
Name two of the ethical challenges facing managers today.
What are - brands, CEO pay, commercialism in schools, religion at work, sweatshops, & wages?
Goals should have certain qualities which are easy to remember with an acronym that identifies them.
S pecific
M easure
A chieve
R elevant
T ime
An individual who establishes a new organization without the benefit of corporate sponsorship.
What is an entrepreneur?
The three broad skills managers need.
What are technical, decision-making, & communication skills?
Fixed costs buyers face when they change suppliers.
What are switching costs?
An act that established strict accounting and reporting rules.
What is Sarbanes-Oxley?
A set of procedures for making decisions about the organization's long-term goals and strategies.
What is strategic planning?
Three characteristics of an entrepreneur.
What are commitment, leadership, opportunity obsession, tolerance of risk, creativity, & motivation?
Three major challenges currently facing managers.
What are globalization, technological change, knowledge, collaboration, and creating a diverse labor force?
Three barriers to entry.
What are government policy, capital requirements, brand identification, cost disadvantages, and distribution channels? P. 51
An ethical system stating that the greatest good for the greatest number should be the overriding concern of decision makers.
What is utilitarianism?
The process of identifying the specific procedures and processes required at lower levels of the organization.
What is operational planning?
New creators working inside big companies.
What are Intrapreneurs?
A classical management approach emphasizing a structured, formal network of relationships among specialized positions in the organization.
What is a bureaucracy?
Porter's Five Forces
What is the organization's competitive environment: includes suppliers, customers, rivals? P. 49
Pre-Conventional
Conventional
Principled
What are Kohlberg's states of moral development?
A uniqye skill and/or knowledge an organization possesses that gives it an edge over competitors.
What is core capability?
Three common entrepreneurial management challenges.
What are you may not like it, survival, growth, difficult to delegate, misuse of funds, poor controls, and mortality?
A professor at Harvard who is a well-known and influential expert on competitive advantage.
Who is Michael Porter?
The process of comparing an organization's practices and technologies with those of other companies.
What is benchmarking?
The four levels of corporate social responsibility.
What are economic, legal, ethical, and philanthropic?
The acquisition or development of new businesses that produce parts or components of the organization's product.
What is vertical integration?
A formal planning step that focuses on the entire venture and describes all the elements involved in starting it.
What is a business plan?