BMGT101 - Final Exam

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itsmerullo
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188244
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BMGT101 - Final Exam
Updated:
2012-12-09 19:41:32
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Business Management 101 Final Exam
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Book - Business Essentials Teacher - Dr. M. Brna
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  1. Where dose setting ethical standards start?
    It begins at the top of a corporation by adopting a code of business ethics.
  2. Organizational Stakeholders
    those groups, individuals, and organizations that are directly affected by the practices of an organization and therefore have a stake in its performance
  3. Collusion
    Illegal agreement between two or more companies to commit a wrongful act.
  4. Price Gouging
    responding to increased demand with overly steep price increases
  5. Whistle Blower
    employee who detects and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them
  6. What is ethics?
    beliefs about what is right and wrong or good and bad in actions that affect others
  7. Social Responsibility
    the attempt of a business to balance its commitments to groups and individuals in its environment, including customers, other businesses, employees, investors, and local communities
  8. What is the stake holder model of social responsibility?
  9. Long-term goals
    goal set for an extended time, typically five years or more into the future
  10. Intermediate Goal
    goal set for a period of one to five years into the future
  11. Short-Term Goal
    goal set for the very near future
  12. How do you measure success / failure?
  13. Mission Statement
    organization's statement of how it will achieve its purpose in the environment in which it conducts its business
  14. Management
    process of planning, organizing, leading, and controlling an organization's resources to achieve its goals
  15. What is a goal vs. strategy.
    Goal - is what you want to achieve

    Strategy is how you are going to achieve the goal.
  16. SWOT Analysis
    identification and analysis of organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation.
  17. Corporate Culture
    the shared experiences, stores, beliefs, and norms that characterize and organization
  18. Organization Chart
    diagram depicting a company's structure and showing employees where they fit into its operations
  19. decentralized organization
    organization in which a great deal of decision-making authority is delegated to levels of management at points below the top.
  20. centralized organization
    organization in which most decision-making authorioty is held by upper level management
  21. Informal Organization
    network, unrelated to the firm's formal authroity structure, of everyday social interaxtions among company employees
  22. What factors play a key role in determinging an organizational structure?
  23. What are the 5 parts of departmentalization?
    • product
    • process
    • fuction
    • geographic
    • customer
  24. Emotional Intelligence
    the extent to which people are self-aware, can manage their emotions, can motivate themselves, express empathy for others, and possess social skills
  25. employee / employer psychological contract
    set of expectations held by an employee concerning what he or she will contribute to an organization and what the organization will return provide the employee
  26. person job fit
    the extent to which a person's contributions and the organization's inducements match one another
  27. Hawthorne Effect
    tendency for productivity to increase when workers believe they are receiving special attention from mamangement
  28. What are the order of Maslows hierarchy of human needs?
    • 1) Physiological Needs
    • 2) Security Needs
    • 3) Social Needs
    • 4) Esteem Needs
    • 5) Self Actualization Needs
  29. Theroy X
    theory of motivation holding that people are naturally lazy and uncooperative
  30. Theroy Y
    theory of motivation holding that people are naturally energetic, growth-oriented, self-motivated, and interested in being productive
  31. Equality Theroy
    theory of motivation holding that people evaluate their treatment by the organization relative to the treatment of others
  32. Management by Objectives
    set of procedures involving both managers and subordinates in setting goals and evaluating progress
  33. Managerment vs. leadership
    • Management
    •      - planning
    •      - organization
    •      - leading
    •      - controlling

    • Leadership
    •      - agenda setting
    •      - aligning
    •      - inspiring
    •      - monitoring
  34. Strategic Management
    process of helping an organizations maintain an effective alignment with its environment
  35. Ethical Leadership
    leader behaviors that reflect high ethical standards
  36. stock exchange
    an organization of individuals to provide an institutional auction setting in which stocks can be bought and sold
  37. market index
    statistical indicator designed to measure the performance of a large group of stocks or track the price changes of a stock market
  38. bond

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