Business

Question 1

External environments

Answer 1

all events Outside a company that have the potential to influence or affect it

Question 2

Environmental change

Answer 2

the rate at which a company’s general and specific environments change

Question 3

Stable environment

Answer 3

an environment in which the rate of change is slow

Question 4

Dynamic environment

Answer 4

an environment in which the rate of change is fast

Question 5

Punctuated equilibrium theory

Answer 5

a theory according to which companies go through long periods of stability (equilibrium), followed by short periods of dynamic, fundamental change (revolution), and ending with a return to stability (new equilibrium)

Question 6

Environmental complexity

Answer 6

the number of external factors in the environment that affect organizations

Question 7

Simple environment

Answer 7

an environment with few environmental factors

Question 8

Complex environment

Answer 8

an environment with many environmental factors

Question 9

Resource scarcity

Answer 9

the shortage of critical organizational resources in an organization’s external environment

Question 10

Uncertainty

Answer 10

extent to which managers can understand or predict which environmental changes and trends will
affect their businesses

Question 11

General environment

Answer 11

the economic, technological, sociocultural, and political
trends that indirectly affect all organizations

Question 12

Specific environment

Answer 12

the customers, competitors, suppliers, industry regulations,
and advocacy groups that are unique to an industry and directly affect how a company does business

Question 13

Business confidence

Answer 13

indices that show managers’ level of confidence about future business growth Technology the knowledge, tools, and
techniques used to transform input into
output

Question 14

Management

Answer 14

getting work done through
others

Question 15

Efficiency

Answer 15

getting work done with a
minimum of effort, expense, or waste

Question 16

Effectiveness

Answer 16

accomplishing tasks that
help fulfil organizational objectives

Question 17

Planning

Answer 17

determining organizational
goals and a means of achieving them

Question 18

Organizing

Answer 18

establishing where decisions will be made, who will do what jobs and
tasks, and who will work for whom

Question 19

Leading

Answer 19

inspiring and motivating workers to work hard to achieve organizational
goals

Question 20

Controlling

Answer 20

monitoring progress toward goal achievement and taking corrective
action when needed

Question 21

Top managers

Answer 21

executives responsible for
the overall direction of the organization

Question 22

Middle managers

Answer 22

managers responsible for setting objectives consisternt with top
management’s goals and for planning and implementing subunit strategies for achieving these objectives

Question 23

Front-line managers

Answer 23

managers who train and supervise the performance of
nonmanagerial employees who are directly responsible for producing the company’s
products or services

Question 24

Team leaders

Answer 24

managers responsible
for facilitating team activities toward
accomplishing a goal

Question 25

Figurehead role

Answer 25

the interpersonal
role managers play when they perform
ceremonial duties

Question 26

Leader role

Answer 26

the interpersonal role
managers play when they motivate and encourage workers to accomplish
organizational objectives