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REVIEW FOR FINAL EXAM-Name_______KEY_______________________Write your answers to these on a separate sheet of notebook paper.MANAGEMENT UNIT (Ch. 1)What is Senior management’s job? Setting the direction of the company (not day-to-day issues)Department heads and district sales managers are what level of management? MIDDLEWhen management is measuring how a business performs financially is the task of what? CONTROLLINGWhat role the manager doing when he or she is making changing in policies or resolving conflicts? Decision-making roleCAREER (Ch. 3)What are the influences when deciding upon a possible career? Your past employersWhat is another name for a skills resume? Functional resume What is the first step in planning a successful career? Assessing interests and abilitiesWhat are the general rules for preparing your resume?focusing on what you have accomplished in school or on the jobETHICS (Ch. 4)What is included in a company code of ethics? Honesty, adherence to laws, and securityDescribe ethical behavior. Behaving honestlyWhat is the Clayton Act of 1914 law do? Makes it illegal to charge different prices to wholesale customersWhat act guards against false advertising? Wheeler-Lea Act of 1938What is social responsibility characterized by? Using packing materials that are environmentally friendly and reduce pollution is one social responsibility of a companyBUSINESS AND LAWS (Ch. 5)A business owned by a single individual is what kind of ownership? Sole proprietorshipTaxes levied against building and land owned by a business is what type of taxes? Property TaxesAn agreement between two parties to carry out a transaction, such as the sale of goods from a seller to a buyer is called what? contractWhat employment laws must companies comply with?Equal Employment Opportunity laws, wage-hour laws, and benefits lawsECONOMY (Ch. 6)What cost concept states that producing one good means not producing another?Opportunity costWhat is the law of demand? States as the price of a good increases, the quantity of the good demanded falls.What is the law of supply? States that as the price of a good rises, producers are willing to supply more of that goodWhat is profit? The difference between what a business earns (revenue) and what it spends (costs)Define growth strategies? (CHAPTER 10, p. 232) A good way for companies to minimize the risk associated with decision making is to compare the risk records of other companies and adjust accordingly.DECISION MAKING SKILLS (Chapter 8)BRAINWRITING ON FINAL NOT WISH LIST-- When a leader presents a situation or problem to them and he/she asks the members of the group to write down their ideas rather than saying them aloud=BRAINWRITING.Define wish list. (see p. 194) A leader tells the group to make believe they have the power to solve any problem, encouraging them to not rule out anything at first then they discuss most practical way to narrow decision. _SOCIAL VALUES____ are ideas that make the lives of consumers, workers, or the community better.(see p. 186)Name the type of management decision style in which the subordinates may or may not be informed? SEMI-AUTOCRATIC MANAGEMENT DECISION STYLETYPES OF COMMUNICATION (Chapter 9) Is the job title included in the memo on page 212? NO What are the major parts of a business letter? (page 214) DATE, RECIPIENT OF THE LETTER (INSIDE NAME AND ADDRESS), , BODY, CLOSING (SINCERELY, SENDER’S NAME & JOB TITLE OF THE SENDER). SUMMARY OF LETTER IS NOT A PART OF LETTERName the best type of communication for sensitive situations such as reprimanding, or dismissing an employee. (page 218) VERBALName the best type of communication for communicating routine information. (page 218) WRITTENTo communicate effectively, what do managers need to determine? (page 204) WHAT THE AUDIENCE HOPES TO GAIN BY LISTENINGPLANNING AND STRATEGIC MANAGEMENT (Chapter 10)Business Strategies concentrate on how to compete in a given business or industry. True or False. Plans that pertain to single departments or units within a company are known as ___________ strategies. (page 233) BUSINESS STRATEGIESCorporate strategies deal with the most important aspects of company’s operations and provide overall direction for the company. True or False (page 230)People, facilities, and materials make up the operating systems of a business. True or False (Chapter 11-page 254)Because production occurs continuously throughout the year, the 3-m company can best be described as using a continuous flow-operating system. True or False. (page 254)In planning the physical arrangement of an airplane facility, a manager should consider fixed-position layout as the type of facility layout. True or False. (page 261)The employee’s understanding of his or her part in an organization’s work is called role perception. True or False. (Chapter 15-page 357)Employees learn new concepts and gain new skills through training. True or False. (page 352)Employees are empowered by involving them in personal goal setting in Management by Objectives. True or False. (Chapter 15)A manager that records specific situations, reflecting the employee’s performance, behavior, and attitudes is a critical-incident appraisal. True or False. (Ch. 15, p. 358) Leadership studies focus on the characteristics the leader possesses are classified as traits. True or False. (Ch. 16)Reinforcement is also known as operant conditioning. True or False. (Ch. 16, p. 377)The idea that people are motivated by their need for achievement, power, and affiliation is most closely associated with McClelland. True or False. (Ch. 16)Leaders who do not listen to other people but make all decisions themselves are known as Autocratic Leaders. True or False. (Ch. 16)The idea that most people seek to meet lower-level needs before they address higher-level needs is most closely associated with Maslow’s Hierarchy of Needs. True or False. (Ch. 2)‘The idea that leadership is related to the leader’s personality and the situation is most closely associated with Fiedler. True or False. (Ch. 16)Conflict between employees and the organization itself is known as organizational conflict. True or False. (Ch. 17)Once personal problems become a matter of concern for the organization, an employee may be required to contact an employee assistance program. True or False. (Ch. 17)Organizational myths about conflict include the idea that all conflicts are resolved. True or False. (Ch. 17)Managers can manage conflict by ___________________________________________, (Ch. 17) Managers minimizing minor conflicts, smoothing over tensions, asking one side to give in to the other; sometimes having conflicting parties meet in neutral place to resolve the conflict. Managers express confidence in both sides being able to come up with a solution. Managers try to approach things positively, create an appropriate atmosphere that promotes partnership and problem-solving among their employees. Managers keep an open mind when they listen. They look for common ground between two conflicting sides. Managers try to be fair and nonjudgmental.NAME_________________________REVIEW FOR FINAL EXAM IN INTRODUCTION TO BUSINESS & TECHNOLOGYWrite your answers on a separate sheet of notebook paper.Word List: Burnout (Chapter 17)Career (Ch. 3)Code of EthicsConflict (Ch. 17)Copyright (p. 112-113)Employee assistance program (2) (Ch. 17)Employment Laws (ch. 5, p.120)Ethics (Ch. 4)Formal planning (Ch. 10)For-profit \business Goals (Ch. 10)Implementing strategy (Ch. 10, p. 244)Intellectual PropertyInterpersonal conflict (p.396)Nonprofit organization (p. 67)Operational planning (Ch. 10)Patent (Ch. 5)Personality (Ch. 3)Regulations (ch. 5)Resume (p. 70)Social Audit (Ch. 4, p. 99)Social Responsibility (Ch. 4)Stakeholder (Ch. 4, p.97)Strategic Management (Ch.10)Strategic planning (p. 230)Stress (Ch. 17)Trademark (Ch. 5)Trends (Ch. 3)Unions (Ch. 5)Wellness program (Ch. 17)A short document that provides potential employees with information about your specific qualifications for the job RESUMEShow changes or movement in a certain area TRENDSOperates to promote a special interest or cause NONPROFIT ORGANIZATIONThe combination of all the unique qualities that make you who you are PERSONALITYA series of progressively more responsible jobs in one field or in related fields CAREEROperate to earn money for their owners FOR PROFIT BUSINESSThe Ownership of ideas, such as inventions, books, movies, and computer programs INTELLECTUAL PROPERTYThe obligation that individuals or businesses have to help solve social problems. SOCIAL RESPONSIBILITYA document that outlines the principles of conduct to be used in making decisions within the organization CODE OF ETHICSA set of moral principles or values that govern behavior ETHICSThe employees, customers, suppliers, and the community who are affected by a company’s actions STAKEHOLDERA review of a business’s social responsiveness SOCIAL AUDITA word, name, symbol, or slogan a business uses to identify its own goods and set them apart from others TRADEMARKRegulate the relationship between companies and their workers and provide benefits to employees EMPLOYMENT LAWSRules that government agencies issue to implement laws REGULATIONSIs issued to inventors and companies to give them the exclusive right to make, use, and sell their inventions for 17 years PATENTGroups of workers who collectively bargain for rights and benefits UNIONSThe protection provided to a creative work COPYRIGHTThe systematic studying of an issue and the preparation of a written document to deal with the problem FORMAL PLANNINGShort-range planning OPERATIONAL PLANNINGConcise statements that provide direction for employees and set standards for achieving the company’s strategic plan GOALSThe action stage of strategic management IMPLEMENTING STRATEGYLong-range planning done by the highest levels in the company STRATEGIC PLANNINGThe application of a the basic planning process at the highest levels of the company STRATEGIC MANAGEMENTThe struggle between people with opposing needs, wishes, or demands CONFLICTConflict between individuals that arises when individuals perceive or value situations differently INTERPERSONAL CONFLICTAny physical, chemical, or emotional factor that causes bodily or mental tension STRESSOccurs when excessive stress causes a person to lose interest in his or her job BURNOUTCompany-sponsored programs that help employees deal with personal problems EMPLOYEE ASSISTANCE PROGRAMCompany-sponsored programs designed to prevent illness and enhance employee well-being WELLNESS PROGRAMS ................
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