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MGMT 1000 Midterm: Term Test 1 - Fall 2017Premium

Course Code
MGMT 1000
David Stuewe
Study Guide

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Dalhousie University
MGMT 1000
Managing Organizational Issues I
Fall 2017
Term Test 1
Prof: David Stuewe
Exam Guide

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Introduction to Management
What is a manager?
Helps run organization
Someone who can implement change
Leadership motivation
Controls allocated definition
Has vision to achieve goals
Uses resources
Running the company on the owner’s behalf
Entrepreneurial skills
Maintaining Systems
“Managers are responsible for making decisions about the allocation of scarce
resources through strategic objectives”(Swanston, 2016)
What makes someone an effective manager? :
Effective managers make better decisions more often
Allocating resources is important physical resources, etc.
We want resources in the most effective, beneficial way
Every business has different goals and objectives
What works for one organization won’t work for other organizations
It’s important to DEVELOP a STRATEGY
Once you have a strategy/goal, that will guide you in how you want to run your business
There is no ONE strategy
Have to make decisions that are consistent with strategy

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Managers’ Roles Are Evolving New Approaches: Why? :
Global Competition
Business may be done somewhere else
Increases the size and strength of competition
Places new demands on management
Business Scandals
When Businesses do something wrong, it becomes hard to cover it up due to
their global exposure to environments
Great reason of transparency, accountability which has changed the way
management has conducted them as they do it in a more respectful manner
Therefore, Business practices are changing for the better because they are being
exposed more easily these days
Constant Change
Businesses are in a constant rate of change
As soon as managers make decisions, they will have to make new ones in a year
from now because Businesses have changed
Have to use to uncertainty and getting through those situations
Better Educated workers
Smaller pools of uneducated workers who can do certain jobs that places don’t
have enough spots to fill
Proves to be a problem as there is no shortage of work for jobs like janitors
This is different from a job such as an Accountant which becomes more
demanding and competitive due to the number of applicants applying for a high
paying job
We are constantly finding ways to increase productivity, do more with less
resources, therefore creating the need for organizations to have all employees
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