Exam 1

Question 1

1 state

Answer 1

Virginia

Question 2

10 state

Answer 2

Ohio

Question 3

Walmart revenues

Answer 3

514 billion

Question 4

Walmart profit

Answer 4

6.6 billion

Question 5

Management principle

Answer 5

1. overseeing work
2. accomplishing tasks
3. managing relationships
4. leading
5. designing

Question 6

Traditional approach to new competencies

Answer 6

1. controller to enabler
2. supervising to leading
3. conflict/competition to conversations/collab
4. autocratic to dispersed and empowering
5. maintaining sustainability to mobilizing for cheap

Question 7

Management

Answer 7

1. the attainment of organizational goals
2. in an effective and efficient manner
3. through planning, organizing, leading, and controlling
4. organizational resources

Question 8

POLC

Answer 8

planning, organizing, leading, controlling

Question 9

Organizational resources

Answer 9

people, equipment

Question 10

4 tips for team building

Answer 10

1. food
2. optional
3. passions
4. fun

Question 11

Management skills

Answer 11

1. conceptual
2. human
3. technical

Question 12

conceptual

Answer 12

ability to see big picture and how small pieces make big picture

Question 13

human

Answer 13

people skills, ability to heal with, work with, and understand people

Question 14

technical

Answer 14

capacity to do the work

Question 15

Senior level of management

Answer 15

president, ceo

department needs, COO, Sr. Vp of marketing, CFO

Question 16

Middle

Answer 16

just below senior level, regional, district

Question 17

supervisor’s operational

Answer 17

day to day managers

Question 18

CEO

Answer 18

Chief executive officer

Question 19

COO

Answer 19

chief operating officer

Question 20

CFO

Answer 20

chief financial officer

Question 21

Manager roles

Answer 21

1. informational
2. interpersonal
3. decisional

Question 22

informational

Answer 22

communicator

Question 23

interpersonal

Answer 23

building relationships

Question 24

decisional

Answer 24

make decisions (who to hire/fire, what kind of marketing)

Question 25

Manager's life

Answer 25

1. multitask, speed dial, and time management 2. innovation 3. small business and non-profit

Question 26

3 requirements to be a small business

Answer 26

1. privately owned/operated 2. not dominant in its industry 3. have less than 100 employees

Question 27

Who came up with scientific management

Answer 27

frederick taylor

Question 28

scientific management

Answer 28

1. improve efficiency and labor productivity through scientific methods 2. proposed that workers could be retooled like machines 3. management decisions would be based on precise procedures based on study

Question 29

Human relations movement

Answer 29

1. hawthorne studies | 2. people matter

Question 30

theory x

Answer 30

managers believe employees hate their jobs/dislike working, no motivation

Question 31

theory y

Answer 31

we like to stay busy, work, have a career, not just a paycheck

Question 32

Systems thinking

Answer 32

the ability to see the distinct elements of a situation as well as the complexities

Question 33

system

Answer 33

set of interrelated parts that function as a whole to achieve a common purpose

Question 34

subsystems

Answer 34

parts of the system that are all interconnected

Question 35

synergy

Answer 35

the whole is greater than the sum of its parts

Question 36

in the 1940s and 1950s

Answer 36

ray kroc sold milkshake machines to restaurants, bought business from McDonald's brothers

Question 37

Phil Knight

Answer 37

used waffle iron to make better sole for running shoes, paid $35 for Nike logo

Question 38

entrepreneurship

Answer 38

coming up with an idea or business, starting it until help is needed

Question 39

intrapreneurship

Answer 39

being entrepreneurial within a medium or large business

Question 40

the professional manager

Answer 40

performs the functions of management (planning, organizing, leading, controlling)

Question 41

MNC

Answer 41

multi-national corporation (more than 25% of sales are outside home country

Question 42

measure =

Answer 42

triple bottom line

Question 43

triple bottom line

Answer 43

ppp: people, profit, planet

Question 44

4 different types of culture

Answer 44

1. adaptability culture 2. achievement culture 3. involvement culture 4. consistency culture

Question 45

adaptability culture

Answer 45

fast moving, highly flexible, changing environment, dynamic

Question 46

achievement culture

Answer 46

serving customers, max. support, about people, aggressive customer pursuit

Question 47

involvement culture

Answer 47

focus on employees, like to learn, workers evolve, adapt, caring and family like

Question 48

consistency culture

Answer 48

methodical, rational, little change, orderly, stable, environment

Question 49

management skill most important at senior level of management

Answer 49

conceptual

Question 50

fake listening

Answer 50

pseudo listening