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TEST 1 Notes And Test Questions (got 96%)

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MGT 3200
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EXAM 1Chapter 1 Invitation To Management1What is management The process of achieving desired results through the efficient use of human material resourcesthrough the utilization of effectivenessefficiency2What are the 2 key concerns of management EffectivenessEfficiency3What is effectiveness concerned withefficiency Effectiveness is concerned with doing the right thing in the right time in theright way goal attainmentEfficiency is concerned with reducing waste or minimizing resource costs sincemany resources are scarce Getting more bang for the buckFord Motor Company in 2010 saw a 15 increase in their North American market share For four straight quarters they reported a profit This is in part due to their aggressive restructuring plan which dramatically cuts costs1Both effective and efficient2Effective but inefficient3Ineffective but efficient4Both ineffective and inefficient 4How are effectivenessefficiency related More concerned with efficiency the harder it is to be effective ie when you trytoo hard to cut costs you can loose sight of your goals Effective companies tend to be efficientWhich of the following is true concerning effectiveness and efficiency1Efficiency is concerned with doing the right thing at the right time2The more a company wants to be effective the easier it is for the company to be efficient3Efficiency is a guarantee of effectiveness4Effectiveness is concerned with minimizing resource costs5Efficient organizations tent to be effective ones as well5What is your important resource as manager Human resources people Injellitanceincompetencejealousyis a big threatInjellitance most adversely affects which function of management1Planning2Organizing3Staffing4Leadingsecondarily affects this becauseyou have no respect 5Controlling 6Is management art or scienceWhen is it considered a sciencean art Both It is a science bc we develop theories of managingthen test them using the scientific method w empirical evidence It is an art bc its an extension of peoples personalities it can not all be taughtthere are many different management styles that can be successfulEquifinality Literally means many different roads to success Means that there are many different management styles that can work depending on the situation7How did management become importantwhy is it still significant today Industrial Revolution changed how work was performed dividing up laborcauses a need for managers Owners used to do all of the managing Craftsman didnt need managers bc could manage themselves but machineneed coordinationWhich of the following is not true concerning the Industrial Revolution1There was an enormous increase in productivity2The skills of the craftsmen were transferred to the machines3The increase in demand required the switch from ownermanager to professional manager4Prices for goods increased as a result8What was the basic change in the industrial revolution Skilled craftsmanuse of machinerydivision of labor skilled labor decreased9What happened to productivity supply pricesdemand as a result of the industrial revolution Production increased prices decreased demand increased10What was the pivotal event of our time according to Drucker The switch from ownermanager to professional manager11Why do most businesses fail Poor managementst12What does a firstline manager doWhat are the names associated with 1line management Ensures that the plans developed by top managersmiddle managers areimplemented by laborers w minimum costs Foreman supervisorWhich of the following mangers is responsible for implementing plans thru operative employees1Firstline management2Middle management3Top management13What does a middle level manager doWhat are the names associated with middle level manager Taking the plans from top level managementput them into staction for 1 line managementintegrateinterpret these plans Plant manager department head division headWhich level of management has at its primary functions interpreting and integrating1Firstline management2Middle management3Top Management4All of the Above14What is corporate downsizingWhat happens in corporate downsizingWhat level of management is most adversely affected Cutting costs Cut the fat by reducing costs by ppl Efficiency oriented Often done by eliminating middle management levels staff management is farmed off to consulting firmseveryone else that remains does more work technologycomputers help for faster communications but often those people left have survivors syndrome where they become stressed overworkedthink they are the next to leave since their friends were just firedas a result their productivity decreases
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