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Business > Unit 1 Test > Flashcards

Unit 1 Test Flashcards

1
Q

James 4: 13 -17

A

Look here, you who say, “Today or tomorrow we are going to a certain town and will stay there a year. We will do business there and make a profit.” 14 How do you know what your life will be like tomorrow? Your life is like the morning fog—it’s here a little while, then it’s gone. 15 What you ought to say is, “If the Lord wants us to, we will live and do this or that.” 16 Otherwise you are boasting about your own pretentious plans, and all such boasting is evil.Remember, it is sin to know what you ought to do and then not do it.

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2
Q

What was James’s message and to whom did he write it?

A
  • Speaking to business owners
  • when we plan we ought to plan according to God’s will
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3
Q

How did James expand our understanding of sin?

A

If we know what is right and refuse to do it we sin

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4
Q

What important business activity is planning closely associated with?

A

Goal setting

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5
Q

What does SMART goal stand for?

A

S: specific
M: measurable
A: attainable
R: Relevant
T: Time-bound

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6
Q

the Planning Cycle

A

Plan -create the plan
Do - implement the plan
Check - monitor the results
Act - modify if needed

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7
Q

What kinds of goals are more successful than others?

A

A difficult specific goal

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8
Q

How are the types of planning similar?

A

All meant to help you achieve a goal

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9
Q

How are the types of planning different?

A

They all have different purposes

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10
Q

The most valuable resource to have is ___________

A

people

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11
Q

It’s good to have a ________ it’s better to have a __________

A

goal / plan

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12
Q

The _______ is the best ____________ of the future

A

past / predictor

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13
Q

What gets ____________ gets __________ if you can’t you ________ not do it.

A

measured / done / ought

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14
Q

Good news _______ wait, bad news ________

A

can / can’t

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15
Q

4 things a leader does

A

Believe, encourage, challenge, correct

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16
Q

A good employee wants to know what 3 things?

A

What’s my job?
Who’s my boss?
How am I doing?

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17
Q

What is the most significant and challenging thing you will do as a leader/manager?

A

catching people doing things right

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18
Q

How does an action plan support the achievement of a goal?

A

helps you measure and plan it out

19
Q

What makes organizing necessary?

A

because resources are limited

20
Q

What is centralization?

A
  • the placement of power and decision-making in an organization
  • power given to one person
  • centralized organizations move faster than decentralized
  • most effective in businesses that perform repetitive tasks with a high level of predictability
21
Q

What is decentralization?

A
  • Decision-making authority is shared throughout the organization
  • employees have power
  • organizations with complex and dynamic activities
22
Q

The typical organization has a ______________ form with clearly defined _________ and _________________

A

hierarchical / roles / responsibilities

23
Q

Mechanistic

A

top town hierarchy

narrow span of control

24
Q

Organic

A

Flexible

Wide span of control

everyone participates

25
Q

Tall Organizations

A

many levels of management

26
Q

Flat Organizations

A

few levels of management

27
Q

Bureaucracy says organizations become more efficient when they…

A
  • divide the duties of labor
  • allow people to specialize
  • create structure that allows them to coordinate their efforts
28
Q

5 elements of bureaucracy

A
  • specialization
  • command and control
  • span of control
  • centralization
  • formalization
29
Q

leading =

A

influence

30
Q

3 versions of God’s will

A
  • perfect or sovereign will
  • moral will
  • permissive will
31
Q

What’s the way of wisdom according to James?

A
  • collect as much information as you can
  • seek wise counsel
32
Q

The decision-making process

A
  1. recognize a decision needs to be made
  2. generate different alternatives
  3. Analyze the alternatives
  4. select the best option
  5. implement the decision
  6. evaluate its effectiveness
33
Q

What is swot analysis used for?

A

helps companies know what decisions they need to make

34
Q

What does swot stand for?

A

S: Strengths
W: Weaknesses
O: Opportunities
T: Threats

35
Q

Vision Statement

A
  • aspirational
  • tomorrow-focused
  • big picture
  • never achieved
36
Q

Mission statements

A
  • short but have more detail
  • creates expectations
  • based on reality
  • memorable
  • assertive - what we will do
37
Q

Bureaucratic Control

A

works where :

  • tasks are certain
  • workers are independent
37
Q

Market control

A

works best where
- tangible output can be identified
- markets can be established between the parties

38
Q

Clan Control

A

Works best where:
- no “one best way” to do something exists
- employees are empowered to make decisions

39
Q

MBO (management by objective)

A
  • collaborative between managers and employees
  • identify common goals
40
Q

An MBO employee…

A
  • follows the action plan to achieve expectation
  • monitors their own performance
  • recommends necessary changes
40
Q

Six Sigma

A
  • designed to reduce defects in organizational processes
  • intense statistical analysis of business process
  • follows a cycle of testing
41
Q

MBWA (management by walking around)

A
  • makes managers experience what’s going on in their business
  • designed to be informal yet observant
42
Q

Perpetuity means …

A

forever

Business (4 decks)

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