MKT 3350 Chapter 1 SmartBook
The buying and selling of goods or services over computer networks is known as _______, whereas _______ involves using the Internet to facilitate every aspect of running a business.
e-commerce; e-business
A ______ organization's purpose is to make money by offering products or services.
for-profit
Meaningfulness is associated with _____ rather than _____.
giving; taking
When managers receive and communicate information with others inside and outside the organization, they are performing _____ roles.
informational
Organizations must be careful not to become complacent, particularly when their competitors are coming up with creative ideas. This highlights the importance of _____ in achieving competitive advantage.
innovation
Functional managers are responsible for
just one organizational activity.
Motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals is the definition of which management function?
leading
Planning, organizing, leading, and controlling represent the four __________.
management functions
A _____ is an experienced person who provides guidance to someone new to the workplace.
mentor
The concept that a manager's influence extends far beyond the results that can be achieved by an individual acting alone is called the _____ effect.
multiplier
In business, a group of people who work together in an attempt to achieve some specific purpose is known as a(n) _____.
organization
Top managers' responsibilities include:
paying close attention to the organization's external environment. being alert for long-run problems and opportunities. devising strategies for dealing with long-run opportunities and problems.
When an organization is able to produce goods or services more effectively than competitors and thereby outperform them, it has achieved a competitive ______.
advantage
The organizing function of management is characterized by
arranging tasks, people, and other resources to accomplish the work.
Setting goals and figuring out how to achieve them describes the _____ function of the management process.
planning
The managerial function of ______ involves monitoring performance, comparing it to goals, and taking corrective action when needed.
controlling
Middle managers are said to have "high-touch" jobs because they _____.
deal directly with people
Planning Organizing Controlling Leading
- Establishing goals and determining how to achieve them - Arranging tasks, human resources, and other resources to accomplish the necessary work - Monitoring performance against goals and taking corrective action as needed - Motivating, directing, and influencing others to achieve organizational goals
What are two potential rewards of being an exceptional manager? (Select 2 answer choices)
Fringe benefits, such as a large office or stock options The ability to earn more than most workers
To maintain a competitive advantage, an organization must stay ahead of its competitors in which of the following areas?
Innovation Quality Customer responsiveness Efficiency
Which of the following are management activities? (Select all that apply.)
Integrating the work of people Pursing organizational goals Controlling the organization's resources
Which two descriptions accurately characterize artificial intelligence (AI) in the workplace? (Select 2 options.)
It includes using computer systems to mimic human reasoning. It can be applied both to blue-collar and white-collar skills.
According to Mintzberg's findings, it was typical for managers to work ____ hours per week at a minimum.
50
What key to career growth did Jeff Bezos possess that motivated him to leave a stable lucrative job and create a start-up that became Amazon?
Ability to take risks
The discipline concerned with creating computer systems that simulate human reasoning and sensation, as represented by robots, natural language processing, pattern recognition, and similar technologies, is known as _____.
Artificial Intelligence
___________ helps people work better together by joining various functions into a single information system that multiple parties can access.
Collaborative computing
To maintain a competitive advantage, an organization must stay ahead of its competitors in which of the following areas?
Customer responsiveness Quality Innovation Efficiency
According to Mintzberg's findings, which statement regarding a manager's communication is true?
Managers rely more on spoken communication, such as telephone calls and meetings, than on written communication.
Which of the following statements is true about the financial rewards of being a manager?
Some middle-level managers make more than $100,000 a year.
Dell Computer uses recycled and recyclable materials in its product and packaging design in an effort to minimize damage to the environment which will help future generations meet their own needs. Dell's efforts are an example of managing for _____.
sustainability
Meeting the needs of the present through economic development without compromising the needs of future generations to meet their own needs is called ______.
sustainability
Managers have a multiplier effect in organizations, which means that
their influence goes far beyond the results that one person could achieve acting alone.
Individuals in management who make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies are called _______ managers.
top
Russ is the project manager of a multinational team with members in Ireland, Malaysia, and the United States. Once a week, the team meets using video and audio links on their computers so that they can see, hear and talk with one another. What technology does this BEST describe?
videoconferencing
The New York and Chicago offices of Jenna's company have weekly meetings. Rather than flying to the respective offices, the employees use _____, which allows them to see, hear, and talk with each other over the computer.
videoconferencing
