MGT330 Final Exam 6
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Date Created: 11/11/15
1. The major actions by which a business competes in a particular industry or market. Answer: Business strategy 2. A strategy employed for an organization that operates a single business and competes in a single industry. Answer: Concentration 3. A strategy used to add new businesses that produce related products or are involved in related markets and activities. Answer: Concentric diversification 4. A strategy used to add new businesses that produce unrelated products or are involved in unrelated markets and activities. Answer: Conglomerate diversification 5. The unique skills and/or knowledge an organization possesses that give it an edge over competitors. Answer: Core competencies 6. The set of businesses, markets, or industries in which an organization competes and the distribution of resources among those entities. Answer: Corporate strategy 7. A strategy an organization uses to build competitive advantage by being unique in its industry or market segment along one or more dimensions. Answer: Differentiation strategy 8. Strategies implemented by each functional area of the organization to support the organization's business strategy. Answer: Functional strategies 9. A target or end that management desires to reach. Answer: Goal 10. A strategy an organization uses to build competitive advantage by being efficient and offering a standard, nofrills product. Answer: Lowcost strategy 11. An organization's basic purpose and scope of operations Answer: Mission 12. The process of identifying the specific procedures and processes required at lower levels of the organization. Answer: Operational planning 13. The actions or means managers intend to use to achieve organizational goals. Answer: Plans 14. Inputs to a system that can enhance performance Answer: Resources 15. A narrative that describes a particular set of future conditions. Answer: Scenario 16. A process planners use, within time and resource constraints, to gather, interpret, and summarize all information relevant to the planning issue under consideration. Answer: Situational analysis 17. Groups and individuals who affect and are affected by the achievement of the organization's mission, goals, and strategies. Answer: Stakeholders 18. A system designed to support managers in evaluating the organization's progress regarding its strategy and, when discrepancies exist, taking corrective action. Answer: Strategic control system 19. Major targets or end results relating to the organization's longterm survival, value, and growth Answer: Strategic goals 20. A process that involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies. Answer: Strategic management 21. A set of procedures for making decisions about the organization's longterm goals and strategies. Answer: Strategic planning 22. The longterm direction and strategic intent of a company Answer: Strategic vision 23. A pattern of actions and resource allocations designed to achieve the organization's goals. Answer: Strategy 24. A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategy. Answer: SWOT analysis 25. A set of procedures for translating broad strategic goals and plans into specific goals and plans that are relevant to a distinct portion of the organization, such as a functional area like marketing. Answer: Tactical planning 26. The acquisition or development of new businesses that produce parts or components of the organization's product. Answer: Vertical Integration 27. A perspective that goes beyond the conventional rules of society by suggesting that what is moral must also come from what a mature person with good "moral character" would deem right. Answer: Virtue ethics 28. An ethical system stating that the greatest good for the greatest number of people should be the overriding concern of decision makers. Answer: Utilitarianism 29. The ethical system stating that all people should uphold certain values, such as honesty and other values that society needs to function. Answer: Universalism 30. Economic growth and development that meets the organization's present needs without harming the ability of future generations to meet their needs. Answer: Sustainable growth 31. An act passed into law by Congress in 2002 to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence Answer: SarbanesOxley Act 32. Bases ethical behavior on the opinions and behaviors of relevant other people. Answer: Relativism 33. Additional behaviors and activities that society finds desirable and that the values of the business support. Answer: Philanthropic responsibilities 34. Principles, rules, and values people use in deciding what is right or wrong. Answer: Moral philosophy 35. A process of analyzing all inputs and outputs, through the entire "cradletograve" life of a product, to determine the total environmental impact of the production and use of a product. Answer: Lifecycle analysis (LCA) 36. To obey local, state, federal, and relevant international laws. Answer: Legal responsibilities 37. Classifies people into categories based on their level of moral judgment. Answer: Kohlberg's model of cognitive moral development 38. Company mechanisms designed to instill in people a personal responsibility for ethical behavior. Answer: Integritybased ethics programs 39. The system of rules that governs the ordering of values. Answer: Ethics 40. Meeting other societal expectations, not written as law. Answer: Ethical responsibilities 41. One who is both a moral person and a moral manager influencing others to behave ethically. Answer: Ethical leader 42. Situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrong Answer: Ethical issue 43. In an organization it refers to the processes by which decisions are evaluated and made on the basis of right and wrong. Answer: Ethical climate 44. An ethical system defining acceptable behavior as that which maximizes benefits for the individual Answer: Egoism 45. To produce goods and services that society wants at a price that perpetuates the business and satisfies its obligations to investors. Answer: Economic responsibilities 46. Its goal is the creation of sustainable economic development and improvement of quality of life worldwide for all organizational stakeholders. Answer: Ecocentric management 47. Obligation toward society assumed by business Answer: Corporate social responsibility 48. Company mechanisms typically designed by corporate counsel to prevent, detect, and punish legal violations. Answer: Compliancebased ethics programs 49. Ethical principles established by international executives based in Caux, Switzerland, in collaboration with business leaders from Japan, Europe, and the United States. Two basic ethical ideals underpin the Caux Principles: kyosei and human dignity. Answer: Caux Principles 50. The moral principles and standards that guide behavior in the world of business Answer: Business ethics 51. The reporting structure and division of labor in an organization Answer: organization chart 52. An aspect of the organization's internal environment created by job specialization and the division of labor. Answer: differentiation 53. The degree to which differentiated work units work together and coordinate their efforts. Answer: integration 54. The assignment of different tasks to different people or groups Answer: division of labor 55. A process in which different individuals and units perform different tasks. Answer: specialization 56. The procedures that link the various parts of the organization to achieve the organization's overall mission. Answer: coordination 57. The role of a corporation's executive staff and board of directors in ensuring that the firm's activities meet the goals of the firm's stakeholders. Answer: corporate governance 58. The legitimate right to make decisions and to tell other people what to do. Answer: authority 59. The authority levels of the organizational pyramid Answer: hierarchy 60. Subdivisions of an organization. Answer: subunits 61. The number of subordinates who report directly to an executive or supervisor. Answer: span of control 62. The assignment of new or additional responsibilities to a subordinate. Answer: delegation 63. The assignment of a task that an employee is supposed to carry out. Answer: responsibility 64. The expectation that employees will perform a job, take corrective action when necessary, and report upward on the status and quality of their performance Answer: accountability 65. An organization in which highlevel executives make most decisions and pass them down to lower levels for implementation. Answer: centralized organization 66. An organization in which lowerlevel managers make important decisions. Answer: decentralized organization 67. Units that deal directly with the organization's primary goods and services. Answer: line departments 68. Units that support line departments Answer: staff departments 69. Subdividing an organization into smaller subunits Answer: departmentalization 70. Departmentalization around specialized activities such as production, marketing, and human resources Answer: functional organization 71. Departmentalization that groups units around products, customers, or geographic regions Answer: divisional organization 72. An organization composed of dual reporting relationships in which some managers report to two superiors—a functional manager and a divisional manager. Answer: matrix organization 73. A structure in which each worker reports to one boss, who in turn reports to one boss Answer: unityofcommand principle 74. A collection of independent, mostly single function firms that collaborate on a product or service. Answer: network organization 75. Temporary arrangements among partners that can be assembled and reassembled to adapt to the environment. Answer: dynamic network 76. A person who assembles and coordinates participants in a network Answer: broker 77. Establishing common routines and procedures that apply uniformly to everyone. Answer: standardization 78. The presence of rules and regulations governing how people in the organization interact Answer: formalization 79. Interdependent units are required to meet deadlines and objectives that contribute to a common goal Answer: coordination by plan 80. Units interact with one another to make accommodations in order to achieve flexible coordination Answer: coordination by mutual adjustment 81. A form of leadership in which the leader makes decisions on his or her own then announces those decisions to the group. Answer: Autocratic leadership 82. A leadership perspective that attempts to identify what good leaders do—that is, what behaviors they exhibit. Answer: Behavioral approach 83. A person who is dominant, selfconfident, convinced of the moral righteousness of his or her beliefs, and able to arouse a sense of excitement and adventure in followers Answer: Charismatic leader 84. A form of leadership in which the leader solicits input from subordates Answer: Democratic leadership 85. Actions taken to ensure the satisfaction of the group members develop and maintain a harmonious work relationships, and preserve social stability of the group Answer: Group maintenance behaviors 86. A leadership philosophy characterized by an absence of managerial decision making Answer: Laissezfaire 87. Highlights the importance of leader behaviors not just toward the group as a whole but toward individuals on a personal basis Answer: LeaderMember Exchange theory 88. Leader behaviors that managers perform in involving their employees in making the decision Answer: Participation in decision making 89. A theory that concerns how leaders influence subordinates perception of their work goals and the paths they follow toward attainment of those goals Answer: Pathgoal theory 90. The ability to influence others Answer: Power 91. Leadership perspective purposing that universally important traits and behaviors do not exist, and that effective leadership behaviors varies from situation to situation Answer: Situational approach 92. Behavior that gives purpose and meaning to organizations, envisioning and creating a positive future Answer: Strategic leadership 93. Factors in the workplace that can exert the same influence on employees that leaders would provide Answer: Substitutes for leadership 94. Behavior that provides guidance support and corrective feedback for day to day activities Answer: Supervisory leadership 95. Actions taken to ensure that the work group or organization reaches its goals Answer: Task performance behaviors 96. A leadership perspective that attempts to determine the personal characteristics the great leaders share Answer: Trait approach 97. Leaders who manage through transactions, using their legitimate, reward and coercive powers to give commands and exchange rewards for services rendered Answer: Transactional leaders 98. A leader who motivates to transcend their personal interests for the good of the group Answer: Transformational leader 99. A mental image of a possible and desirable future state of the organization Answer: Vision 100. A situational model that focuses on the participative demension of leadership Answer: Vroom model
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