Module 1 Flashcards
Summarize the major challenges of managing in the new competitive landscape
-Globalization
-Technological change
-Importance of knowledge and ideas
-Collaboration across organizational boundaries
Describe the sources of competitive advantage for a company.
-Innovation
-Quality
-Service
-Speed
-Cost Competitiveness
-Sustainability
Explain the functions of management.
-Planning
-Organizing
-Leading
-Controlling
Planning
specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.
Organizing
assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.
Leading
stimulating people to be high performers
Controlling
management function of monitoring performance and making needed changes.
Top-level (strategic) managers
the senior executives responsible for the overall management and effectiveness of the organization.
Middle-level managers
managers located in the middle layers of the organizational hierarchy, reporting to top-level executives.
Lower-level (frontline) managers
managers who supervise the operational activities of the organization.
Cost competitiveness involves…
Cost competitiveness involves which of the following
What is true of the sources of competitive advantage.
It is possible to improve quality and also enhance speed.
Luxe Slumber is a company that produces high-quality mattresses. Omar, the CEO, makes all the business deals for the company. He negotiates with suppliers and gets new customers and business for the company. Charles (Omar?) communicates his vision for the company and what he would like it to achieve to Ana, who lays out plans to make possible the execution of that vision. Ana delegates the work accordingly by communication to the sales and production managers Omar’s vision and what he requires of them. Irving, a floor manager, makes sure that the workers do their jobs at the required pace to meet the targets and goals of the company.
- ___ By creating objectives and communicating them to the rest of the organization, Ana is performing the function of a(n) middle-level manager.
- ___ implements interpersonal skills, a management skill, by communicating with the rest of the organization.
- ___, the floor manager, is a frontline manager.
-___ is a strategic manager.
-Ana
-Ana
-Irving
-Omar
Marc is on the fast track to become an executive in his company. As he advances, he will most likely have less and less need of which skill?
Technical
Operational managers play a crucial role in an organization because they provide
the link between management and non management personnel.
