Managing Basics
What does POLC stand for?
Planning, organizing, leading, controlling.
What term describes something a business does especially well that gives customers a reason to choose it?
Competitive Advantage
What framework describes personality using five broad traits?
The Big 5
What do we call the shared values, expectations, and routines that shape how people work together?
Organizational culture
What is the difference between a shareholder and a stakeholder?
A shareholder owns stock; a stakeholder affects or is affected by the business.
Everyone on a project assumes someone else is contacting the client, but no one actually is. Which management function needs attention?
Organizing
Which managerial skill involves job-specific knowledge, such as using inventory software?
Technical skill
Which managerial need involves wanting to influence people and outcomes?
Need for Power
What type of organizational rite publicly recognizes an employee’s accomplishments?
Rite of enhancement
Why doesn’t “It’s legal” completely settle an ethical question?
A legal action can still be unethical
Everyone on a project assumes someone else is contacting the client. Which management function needs attention?
Leading
A business ships orders faster, but more arrive damaged. Which building block of competitive advantage has suffered?
Quality
An employee enjoys the daily work but feels little loyalty to the employer. Which is stronger: job satisfaction or organizational commitment?
Job satisfaction
A new employee learns how to handle customers by watching experienced coworkers. What process is occurring?
Organization socialization
This type of situation pits a responsibility to others against personal interests or another obligation.
Ethical dilemma
Why isn’t collecting performance data enough to complete the controlling process?
Managers must compare it with standards (what we expected to happen) and make the needed corrections.
A fundraiser reaches its donation goal. What else would you need to know to judge its efficiency?
How much time, money, and other resources it used or wasted to reach the goal.
High levels of this Big Five trait can help managers anticipate problems but also leave them easily distressed.
Negative affectivity (neuroticism)
Team retreats and shared celebrations that strengthen belonging are this type of organizational rite.
Rite of integration
This ethical rule asks whether you could openly explain your decision to people outside the company and expect them to find it acceptable.
practical rule
Why can a strong plan still fail?
Uncertainty and changing conditions
Why might an excellent individual employee struggle after becoming a manager?
Managing requires coordinating, coaching, and developing other people.
Believing your choices and actions influence outcomes reflects this orientation.
Internal Locus of Control
Flexible plans, decentralized decisions, and learning from mistakes characterize this type of culture.
Innovative/adaptive culture
A business voluntarily addresses stakeholder concerns after they arise. This describes its approach to social responsibility.
Accomodative