5. self-actualization (realizing one's full potential; becoming everything one is capable of being.)
4. ego (independence, achievement, freedom, status, recognition, and self-esteem.)
3. social (friendship, affection, belonging, and love.)
2. safety (protection against threat and deprivation.)
1. Physiological (food, water, sex, and shelter)
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Principles of Management
Terms in this set (95)
Moses is making the best possible use of money, time, materials, and people. By achieving goals with minimal waste of resources he is being ______.
efficient
The management function of planning is defined as ______.
specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals
Which of the following is a planning activity?
Determining the resources needed to achieve the organization's goals
In the new, highly competitive business environment, the planning function is described as ______.
delivering strategic value
The monetary amount associated with how well a job, task, good, or service meets users' needs is called ______.
Value
The process of working with people and resources to accomplish organizational goals is called ______.
management
Gathering and coordinating human, financial, physical, informational, and other resources needed to achieve goals is called ______.
organizing
The management function of specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals is called _______.
planning
The ability to motivate and communicate effectively with employees is called ______.
leading
Which of the following are planning activities in management? (Choose every correct answer.)
Analyzing current situations
Choosing corporate and business strategies
Determining objectives
Deciding what type of activities the company will
engage in
Determining the resources needed to achieve the organization's goals
Anticipating the future
Under the "leading" function of management managers must ______.
be able to inspire employees to engage and contribute ideas
What is the role of planning for delivering strategic value?
Planning sets the stage for meeting organizational goals.
Which of the following is the definition of controlling?
Supervising performance and making needed changes
Bruno is career oriented and wants to do the best he can in his current position not only to meet his personal goals but also to help his employer. Which of the following questions should he ask himself?
"How can I add value?"
A ________ manager is responsible for the overall management and effectiveness of the organization.
top-level
The management function of organizing includes ______.
assembling and coordinating all resources needed to achieve goals
Which of the following is a type of top-level manager?
Chief information officer
The management function that involves the manager's efforts to stimulate high performance by employees is called ______.
leading
A(n) ______ manager puts together separate business unit plans from the units below them for higher-level corporate review.
middle-level
Which of the following activities are associated specifically with the leading function?
Motivating and communicating with employees
Guiding and inspiring employees to achieve organizational goals
Frontline managers are ______ managers.
lower-level
The management function of monitoring performance and making needed changes is called ______.
controlling
Which of the following are the roles and responsibilities of frontline managers?
Implementing the specific plans developed with middle managers
Supervising the operations of the organization
Senior executives responsible for the overall management and effectiveness of the organization are called ______ managers.
top-level
A relatively new type of manager who engages in a variety of behaviors designed to achieve work group effectiveness is called a(n) ______.
team leader
Which of the following are the roles of top-level managers?
Work
extensively with outside individuals and organizations
Overall management of the organization
Focus on broad strategic issues
Which of the following is NOT one of the responsibilities of middle-level managers?
Supervising the operations of the organization to implement previously developed plans
Which of the following is NOT one of the key activities that managers perform?
Challenger
A ______ manager may have a title such as supervisor and be responsible for non-management employees and have knowledge of all business functions.
frontline
The three essential categories of skills that managers need are technical skills, interpersonal skills, and ______ skills.
conceptual
Flatter organizational structures rely on lower-level employees to participate in decision making. These employees are generally organized into groups. Which of the following type of manager oversees these groups?
Team leader
A(n) ______ skill is the ability to perform a specialized task that involves a certain method or process.
technical
Which of the following is a type of top-level manager?
Chief information officer
What are the three broad roles that managers spend their time performing?
Informational
Decisional
Interpersonal
Which of the following statements about must-have management skills are true?
Managers need a variety of skills to perform their roles well.
Without technical, conceptual, and communication skills, a manager will not succeed.
A manager's use of conceptual and decision skills ______ with greater responsibility.
increases
Which of the following are examples of technical skills managers may possess?
Managing human resources
Understanding financial statements
The skills required for managers to build trust, relate to, and communicate effectively with those around them are called ______ skills.
interpersonal and communication
Which of the following is NOT one of the key activities that managers perform?
Challenger
Managers can increase the effectiveness of their interpersonal and communication skills by being emotionally ______ at work.
intelligent
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
Luis is able to manage his own feelings and his reactions to others. He works effectively with others by showing empathy and listening well. Based on this information, it could be said that Luis has a high level of ______.
emotional intelligence
The first management position of newer or younger managers is likely to be as a(n) _______ manager.
frontline
Which of the following is not among the major waves of change challenging managers today?
Risk management
A(n) ______ skill is the ability to perform a specialized task that involves a certain method or process.
technical
People skills include the ability to lead, motivate, and communicate effectively with others. These skills are called ______ skills.
interpersonal and communication
Which of the following best explains why companies are operating globally?
Increased opportunities for growth
Which of the following statements about the importance of interpersonal and communications skills is true?
They are important at every level of management.
When GE announced that they planned to expand into the European and Asian markets, they hoped this would ______.
increase sales
Emotional intelligence combines which of the following skill sets?
Understanding your strengths and limitations
Showing empathy
Exercising self-control
Which of the following technological changes has had the most significant effect on the new competitive landscape?
The Internet
Choose from the list below four major waves of change that are part of the challenges of managing a business in the new competitive landscape.
Collaboration across organizational boundaries
The importance of knowledge and ideas
Technological change
Globalization
When should individuals begin to build their social capital networks?
While in school
Because companies in advanced economies have become efficient at producing physical goods, most workers have been freed up to provide "abstract goods," which include:
research.
advertising.
training.
entertainment.
Which of the following are key factors influencing the growth of globalization in the competitive landscape?
Corporate operations transcend national borders.
International markets are growing with rising incomes and
increased demand.
Offices and production facilities are worldwide.
Managing knowledge workers can be challenging and different from managing workers in manufacturing because ______.
there is difficulty in measuring a knowledge worker's output
Which of the following statements about globalization is correct?
Globalization taps into increasing demands in foreign markets.
__________ is about finding, unlocking, sharing, and capitalizing on the most precious resources of an organization: people's expertise, skills, wisdom, and relationships.
Knowledge Managment
Why is the Internet important to business?
It facilitates design of new products and
services.
It improves efficiency of decision making.
It provides a virtual marketplace.
What are some of the techniques used by organizations to collaborate across boundaries?
Using social networking sites to collect information about customer attitudes
Using software to share knowledge
Collaborating with distributors to develop products
Bringing together employees from different divisions to
collaborate
The goodwill stemming from your social relationships is called ______.
social capital
Which of the following is NOT one of the trends in the U.S. labor market expected through 2024?
The labor market will decrease in diversity.
An employee whose primary contributions are ideas and problem-solving expertise is known as a ______
knowledge worker
What are the fundamental drivers of gaining a competitive advantage?
Innovation, quality, service, speed, and cost competitiveness
Which of the following statements about knowledge workers are true?
They are motivated
by interesting work.
They have problem-solving expertise.
________ managers find human assets, help people collaborate and learn, help people generate new ideas and harness these ideas into successful innovations.
Knowledge
_____ is the excellence of a product, whether it be goods or services.
Quality
At Toyota engineers and manufacturing employees use a product development software which includes an online database that provides a central, easily accessible source of information about designs and processes. This form of knowledge management supports ______.
collaboration
The increase in diversity of the labor force means managers will need to ______.
be able to relate to and work productively with these individuals
The _______ approach to quality was to check work after it was completed and then eliminate defects, using inspection and statistical data to determine whether products were up to standards.
Traditional
A company gains competitive advantage by doing which of the following?
By
being better than competitors
By doing valuable things for the customers
Which of the following are among the ways that quality can be measured?
Product performance
Reliability
Customer service
When Amazon first began, it sold books. It now offers food-delivery services, sells clothing, household appliances, and much more, and is dabbling with making deliveries with drones. These are examples of ______.
innovations
Which of the following statements about the prevalence of services in the United States is true?
Service jobs is one of the fastest-growing job categories.
What is the role of quality in companies today?
Quality and standards for acceptable quality have become increasingly important.
Focusing on continually meeting the changing needs of customers to establish mutually beneficial long-term relationships is an example of ______.
service
A management process in which people in different parts of an organization share information throughout the development of a product or process is called _______.
collaboration
Speed refers to the fast and timely execution, response, and ____ of results.
delivery
Which of the following are components of total quality management?
Achieving zero defects in manufacturing
Operating with a philosophy of continuous improvement
Preventing
defects before they occur
Designing products for quality
In order for a company to provide world-class quality, the company must ______.
fully understand what quality really is
Which of the following are components of cost competitiveness?
Pricing products attractively to customers
Keeping costs low
True or false: In recent years, Americans have spent a higher percentage of their personal income on tangible goods than services.
False
Trade-offs may occur among the six sources of competitive advantage. Managers should realize that ______.
this doesn't need to be a zero-sum game where one source has to suffer at the expense of another
The focus of _______ in an organization is giving customers what they want or need, when they want it. This helps establish mutually beneficial long-term relationships,
service
Which of the following best exemplifies speed in the business environment?
Company Z creates and releases a rival program when it learns a competitor is planning a launch.
The _______ approach to quality was to check work after it was completed and then eliminate defects, using inspection and statistical data to determine whether products were up to standards.
traditional
What is the role of cost competitiveness?
Organizations that are able to keep costs low, make a profit, and price products at a lower price are more likely to succeed.
To be competitive, the best managers deliver the fundamental competitive advantage success drivers: innovation, quality, service, speed, and _____.
cost competitiveness
State Farm has a commitment to service, which is one way of managing for
competitive advantage
State Farm's idea of offering banking through insurance agents is an example of which aspect of competitive advantage?
innovation
While the law requires the separation of companies offering banking, insurance, and mutual fund products, by using its insurance agents as salespeople for these products, State Farm is leveraging which aspect of the competitive landscape?
collaboration
Which of the following components of the competitive landscape allows State Farm to operate its bank?
technological change
When an employee talks about State Farm being a "customer-focused business" and "supporting the customer," he is talking about which of the five aspects of competitive advantage?
service
Bernie Floriani is a customer service representative for State Farm. He is at which level of management?
He's not a manager.
You've just been told how State Farm's strategy depends on the ability of State Farm agents to "pick up on the wants and needs of customers." State Farm should hire agents with which of the following skills?
interpersonal and communication skills
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