management mid terms chapter 2

Question 1

what organization’s environment includes the factors within its boundaries that affect its performance.

Answer 1

Internal Environment

Question 2

6 examples of internal environment

Answer 2

Management, Strategic Planning: Mission Value, Organizational Resources, System Process, Structure, Quality

Question 3

• Set of decisions and actions that result in the formulation and implementation of plans designed to achieve an organization’s objectives.

Answer 3

Strategic management

Question 4

• The organization’s purpose or reason for being.

Answer 4

 Mission statement

Question 5

• Provides organizational direction, sense of reflection, and outlook.

Answer 5

 Vision statement

Question 6

 Type of organization resources

Answer 6

– Human, Financial, Physical, Informational

Question 7

Method used to transform inputs into outputs. (Inputs, Transformation, Outputs, Feedback)

Answer 7

 Systems process -

Question 8

Benefits that customers obtain if they buy/experience a product or service.

Answer 8

 Customer value

Question 9

Process of organizational focus on the customer and to continually improve product/service value.

Answer 9

Total Quality Management (TQM)

Question 10

• Factors outside the boundaries of the organization that affect its performance.

Answer 10

 External Environment

Question 11

 9 examples of external environment factors

Answer 11

– Competition, Suppliers, Workforce, Customers, Shareholders, Society, Technology, Economy, Government

Question 12

– Make changes only when forced to by external factors.

Answer 12

 Reactive managers

Question 13

– Prepare for change that they predict will come about.

Answer 13

 Responsive managers

Question 14

• Believe they can shape part of their future and control how will affect their organizations.

Answer 14

Interactive managers

Question 15

• Use of worldwide resources for inputs and transformation

Answer 15

 Global Sourcing (Outsourcing)

Question 16

• Domestic company buys products from other countries and sell them as is at home

Answer 16

 Importing

Question 17

• Domestic company sell their products to buyers in other countries

Answer 17

 Exporting

Question 18

One company allows another to use its intellectual assets (e.g., brand name, trademarks, technology, patents, copyrights)

Answer 18

 Licensing agreement-

Question 19

• Global contract manufacturing: Company has a foreign firm manufacture the goods, but it retains the marketing process

Answer 19

 Contracting

Question 20

• Firms share ownership of a new enterprise (i.e., partnership)

Answer 20

 Joint Venture

Question 21

• Company builds or purchases operating facilities in a foreign country

Answer 21

 Direct Investment

Question 22

• Importance of conducting business in an ethical manner and provide guidelines for ethical behavior

Answer 22

 Codes of Ethics

Question 23

is an extension of the stakeholders’ approach to ethics

Answer 23

 Corporate Social Responsibility (CSR)

Question 24

 CSR sport industry examples

Answer 24

1. Boston Red Sox top-level managers and star players work with the Dana–Farber Cancer Institute to help children
2. Indianapolis Colts players work with kids through other organizations
3. Nike works to improve conditions for factory workers in an Indonesian athletic shoe factory.

Question 25

 4 levels of social responsibility

Answer 25

• 1. Social obstruction: Managers behave unethically and illegally
     2. Social obligation: Managers meet only the minimum legal requirements
     
     3. Social reaction: Managers respond to societal requests
     4. Social involvement: Managers voluntarily initiate socially responsible acts

Question 26

• Sport managers will need to respond to appropriate societal requests

Answer 26

 Social reaction

Question 27

 Social reaction sport industry examples

Answer 27

• Each year, Sports Stuff (local sporting goods store) give merchandise to the Holy Cross Athletic Association

Question 28

Voluntarily initiate socially responsible acts

Answer 28

 Social involvement

Question 29

 Social involvement sport industry examples

Answer 29

• NFL is an active participant with United Way

Question 30

• includes reducing the organization’s environmental impacts.

Answer 30

 Sustainability

Question 31

: First LEED certified sports stadium

Answer 31

 Mercedes-Benz Stadium

Question 32

: First carbon-neutral sports arena

Answer 32

 Climate Pledge Arena