Management
What are the four functions of Management?
1. Planning
2. Organizing
3. Leading
4. Controlling
What theorist introduced the scientific management approach to managing?
Frederick Taylor
A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy is called a?
SWOT Analysis
Forecasting
What legislation established strict accounting and reporting rules to make senior managers more accountable and to improve and maintain investor confidence?
Sarbanes-Oxley Act
What theorist introduced the Learning Organization and wrote The Fifth Dimension: The Art and Practice of the Learning Organization?
Peter Senge
What planning step involves managers continually monitoring the performance of their work units against the unit’s goals and plans?
Monitoring and Controlling Performance
What is a new business having growth and high profitability as primary objectives?
Entrepreneurial Venture
What management decision-making technique works on achieving the best possible balance among several goals?
Optimizing
Peter Drucker, Michael Porter, and Gary Hamel are all...?
Modern Contributors to the study of Management
What are the three common plans used by organizations?
1. Single-Use (focuses on achieving non-repeating goals)
2. Standing (focuses on achieving an enduring set of goals)
3. Contingency (plans initiated with the initial set of plans fail)
The degree of discontinuous change that occurs within an industry
Dynamism
The four levels of Managers include
1. Top-level Manager
2. Middle-level Manager
3. Frontline Manager
4. Team leader
What two-part theory presents a positive and negative perspective that demonstrates the self-fulfilling prophecy?
Meaning, that if a manager treats employees as lazy, unmotivated, and in need of supervision, then the employee will meet those expectations.
Theory X and Theory Y
A project team designated to produce a new, innovative product is
Skunkworks
What depicts the positions in the firm and the way they are arranged within an organization?
Organizational Chart
This approach proposes that the managerial strategies, structures, and processes that result in high performance depend on the characteristics, or important contingencies, or the situation in which they are applied.
Contingency Perspective
Douglas McGregor
Name all 5 sources of a competitive advantage
1. Innovation
2. Quality
3. Service
4. Speed
5. Cost Competitiveness
What management technique conserves the manager's most valuable asset - their time?
Delegation