Chapters 1-3
Which of the following best explains why planning is considered a core management function?
It provides direction by setting goals and outlining how to achieve them
How many steps are there in the decision making process?
There are 8 key components
What is a necessity entrepreneur?
Someone who starts a business because they have limited or no other work options
Which of the following best describes the main difference between groups and teams?
Teams share a common goal and mutual accountability, while groups may not
A manager notices that employees consistently stay late, collaborate freely, and celebrate team wins together. According to management principles, these behaviors are indicators of
A strong organizational culture
Why does it pay to plan?
It leads to higher profits and return on assets (There is a direct correlation with higher performance)
What is the difference between a mechanistic structure and an organic structure in an organization?
A mechanistic structure is rigid and rule heavy with centralized control, while an organic structure is flexible, collaborative, and decentralized
According to the stages of group development, what occurs during the storming stage?
Members experience conflict as they define roles and expectations
A U.S. company expands into several countries but customizes its advertising, packaging, and pricing to meet the preferences of each market. According to global strategy classifications, this company is following a
Multidomestic strategy
Who can be a change agent?
Anyone in a company can (If someone sees something they should speak out expressing their feelings on certain topics to support the company as a whole, it doesn't always need to come from authority)
Name 3 of the 7 downsizing options
Firing, Layoffs, Attrition, Transfers, Reduced workweeks, Early retirements, and Job sharing
What factor most strongly influences group cohesiveness?
The size of the group and the frequency of interactions