Chapter 1
What is innovation?
The introduction of new goods and services
What is quality?
The excellence of your product (goods or services)
What is a service?
The speed and dependability with which an organization delivers what customers want.
What is speed?
Fast and timely execution, response and delivery of products.
What is cost competitiveness?
Keeping cost low to achieve profits and be able to offer prices that are attractive to consumers.
What is sustainability?
Minimizing the use of resources, especially those that are polluting and nonrenewable.
How much revenue has Facebook made in the year 2016?
2016
How did Facebook recover after 2012?
People are using cellular devices more than ever and there are more ads on Facebook
True or false: Globalization means that a company’s talent can come from anywhere
True
True or False: Globalization affects small companies as well as large companies.
True
____________ is the effort to minimize the use of resources, especially those that are polluting and nonrenewable.
Sustainability
In order for a company go provide world-class quality, the company must ___________.
Fully understand what quality really is
How does Facebook plan on combatting inappropriate content being shown on Facebook?
They plan on using artificial intelligence to censor inappropriate content.
How does Facebook make 80% of their revenues?
Through Ads
To be ______ is to achieve goals with minimal waste of resources.
Efficient
The process of keeping costs low in order to achieve profits and be able to offer prices that are attractive to consumers is called?
Competitive Cost
What is the management function of specifying the goals to be achieved and deciding in advance the appropriate actions to achieve those goals?
Planning
Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members are called __________skills.
Conceptual and decision
The ability to motivate and communicate effectively with employees is called _______.
Leading
When companies customize goods and services to the wishes of their individual consumers they are focusing on ______.
Quality
Wayde is responsible for working with his team and resources, making sure each member is doing his or her job, and that his team is focused on accomplishing organizational goals. Wayde is most likely a(n) ___________.
Manager
The management function of organizing includes ________.
Assembling and coordinating all resources needed to achieve goals.
Which of the managerial skills are referred to as people skills?
Interpersonal and communication skills
As you advance through your career, _______ skills are important at every level of management.
Interpersonal
The monetary amount associated with how well a job, task, good, or service meets users needs is called ________.
Value