Management Final Exam
What name is given to the relationships among positions that are not connected by the organizational chart?
Informal Organization.
Which of the following refers to a set of theories that try to determine "how" and "why" employees are motivated to perform?
Process Theories.
Which of the following characteristics relates to job design?
Process of grouping tasks into jobs.
A personal source of power that a leader possesses when he or she is admired by employees who identify with the leader is called
Referent Power.
When financial institutions such as J.P. Morgan reward employees with bonuses and other financial incentives for making risky decisions, they may find that their attempts to motivate employees
may sometimes have negative effects on the organization.
Sue wants to be warm, but she is not; she has a
need.
Georgia realized her supervisor was padding his expense account. Research has shown that her response will most likely be to
pad her own expense account.
When extra effort is required from employees and managers have no control over rewards and punishments and close supervision is not practical
personal sources of power are essential.
While open discussion of an ethical issue may not eliminate all ethical problems in an organization, discussion will usually
promote trust and learning in the organization.
When managers allow greater participation with regard to the design and implementation of projects, conflict within work groups is
reduced.
Which of the following characteristics relates to a compressed work week?
4-day 40 hour work week.
What is meant by focus?
A business strategy in which the business concentrates on one part or segment of the market and tries to meet the demands of that segment
What is an organization?
A group of individuals who work together to achieve the goals or objectives that are important to these individuals
Which of the following characteristics relates to the Hawthorne studies? Selected:
A group of studies that provided the stimulus for the human-relations movement within management theory and practice
Which of the following characteristics relates to situational leadership theory?
A leadership model whose premise is that a leader's style should be contingent on subordinates' competence and commitment.
What is path-goal theory?
A model concerned with how a leader affects employees' perceptions of their personal and work goals and the paths to goal attainment
Which of the following characteristics best relates to management?
A set of activities designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment
What is a network organization?
A structure, primarily a command unit, that does not make a good or provide a service but instead coordinates agreements and contracts with other organizations to produce, distribute, and sell products.
Which of the following characteristics relates to the quantitative approach?
A viewpoint of management that emphasizes the application of mathematical models, statistics, and structured information systems to support rational management decision making.
A managerial decision becomes an ethical issue when
Accepted rules no longer apply and a person must use his/her own moral standards.
What term describes the universality of management as a function that can be applied to all organizations?
Administrative management.
Which of the following refers to power that is derived by virtue of a person's association with someone else who has some source of power?
Affiliative Power
The First Lady's primary source of power is
Affiliative.
The most accurate definition of the organizational environment is/are
All factors that affect the operations of an organization.
What is the nature of the organization's internal environment?
All factors that make up the organization.
You have an employee-of-the-year award in your insurance business for the man or woman who consistently has the best attitude and gives the best service to your customers, as measured by their compliments. Which approach to management is your award based on?
Behavioral
For businesspersons to be ethical, they must strive for success while
Being fair, just, and trustworthy.
Which of the following characteristics relates to the product life cycle?
Birth, Growth, Maturity, Decline
Which of the following refers to the initial stage of the product life cycle when the product is introduced?
Birth.
Developing widespread electric charging stations for electric cars is an illustration of
Building technological infrastructure.
What term describes a group of firms or nations that agree to act as a monopoly and not compete with each other?
Cartel.
You manufacture high-tech multicomponent widgets in a new factory in Illinois. Your production line has eight different work stations, and each worker operates a computerized assembler. Your assembly method produces a widget every ten minutes. Your new factory is making use of what approach to management?
Classical.
Which of the following refers to an organizationally based source of power derived from a leader's control over punishments or the capacity to deny rewards?
Coercive Power.
What are potential new competitors?
Companies not currently competing but have a high potential to join the industry.
What name is given to other organizations that produce similar, or in some cases identical, goods or services?
Competitors.
When a manager reasons well, processes information intelligently, and evaluates which strategic option is potentially most profitable, he or she is displaying
Conceptual Skills
The manager makes a decision about a course of action after analyzing several options. He or she is using
Conceptual Skills.
Which of the following refers to the intellectual abilities to process information and make accurate decisions about the work group and the job tasks?
Conceptual Skills.
When a manager gathers and uses information to make a choice about how an organization's resources will be used, he or she is engaging in
Decision making.
Which of the following refers to the assignment of work activities and authority to a subordinate?
Delegation.
The fact that Americans are becoming older and more affluent is an example of
Demographic Characteristics.
The first step in strategic planning is
Determine the mission and strategic goals.
When a firm offers a unique good or service to a customer at a premium price, it is following the business-level strategy of
Differentiation
What name is given to a business strategy in which the strategic business unit offers a unique good or service to a customer at a premium price?
Differentiation.
What term describes the purchase of overseas production and marketing facilities, in which a company may control the facilities outright, or it may be the majority stockholder in the company that controls the facilities?
Direct Investment.
You are the president of Henry Motor Corp., and you see the great potential markets in Eastern Europe for personal transportation. Your plan is to purchase an old Soviet tank plant and convert it into an auto factory. The Russian government welcomes your plan, which is an example of
Direct Investment.
What term describes what a firm does well relative to its competitors?
Distinctive Competence.
Your saltwater taffy, which you produce right next to the Pacific Ocean in Orchard Park, Oregon, has a national reputation. You sell all you can make, and people drive hundreds of miles to your shop to buy it. You have a
Distinctive Competence.
What is meant by job specialization?
Division of work into smaller, distinct tasks.
What name is given to the overall condition of the complex interactions of economies throughout the world?
Economic Dimension.
Which of the following refers to using resources in a way that produces a desired result?
Effectively
What term describes restrictions on the amount of a particular currency that may be bought or sold?
Exchange Controls.
What name is given to the ratio at which one nation's currency can be exchanged for another nation's currency or for gold?
Exchange Rate.
What name is given to the theory that states that motivation depends not only on how much a person wants something but also on the person's perception of how likely he or she is to get it?
Expectancy Theory.
If a leader wants a high degree of commitment from his or her subordinates, which sources of power are most likely to lead to that?
Expert, Referent, and Charismatic.
Which of the following characteristics relates to countertrade agreements?
Exporting that involves bartering products for other products instead of for currency
Which of the following refers to all of the factors outside the organization that may affect the managers' actions?
External Environment.
When a company produces a high-tech, expensive bicycle aimed at serious and affluent bike enthusiasts, it is using the business-level strategy called
Focus.
You sell Gourmet Mushrooms (GMs) at $100 an ounce. You have a secret source of supply, jealously guarded. Your GMs are better than your competitors' mushrooms, and only the very wealthiest Americans buy them. You are using the business strategy called
Focus.
Which of the following refers to organizations owned either privately by one or more individuals or publicly by stockholders?
For-profit companies.
What term describes the broad, complex factors that affect all organizations?
General Environment.
The fact that U.S. businesses now frequently engage in international trading relations is an illustration of what dimension of the general environment?
Global
What term describes a theory that recognizes the importance of goals in improving employee performance?
Goal-Setting Theory
What name is given to the final result that a firm wishes to achieve?
Goal.
What are strategic goals?
Goals set by higher managers that deal with such general topics as the firm's growth, new markets, or new goods and services
What term is used to describe the product life cycle stage characterized by dramatic increases in the product's market share?
Growth.
Managers tend to be more concerned about ethical issues that
Have immediate consequences.
Which of the following characteristics relates to information power?
Having access to information that is not common knowledge.
One of the significant conclusions that has been drawn from the Hawthorne studies is that
Human relations and social needs of workers are critical values in management.
Which of the following refers to a tax levied by a nation on goods bought outside its borders and imported into the country?
Import Tariff.
Because many countries do not permit foreigners to purchase and operate facilities in their countries, a company wishing to do business in such a country may share the business costs with the host country by forming a
Joint Venture
What name is given to a description of how leaders develop "unique" working relationships with each of their employees, based on the nature of their social exchanges?
Leader-Member Exchange (LMX) Theory
Which of the following characteristics relates to a servant leader?
Leads by example - forms strong relationships with employees.
You are the producer of Western Denim brand blue jeans. The pants are in high demand in Pangia; however, shipping costs, tariffs, and trade restrictions are insurmountable. As a last resort, you have entered into an agreement to let a local Pangian manufacturer use your name, materials, and trademark to produce the jeans in exchange for a royalty. This is a
Licensing Agreement.
What name is given to individuals who make decisions about the use of the organization's resources, and are concerned with planning, organizing, leading, and controlling the organization's activities so as to reach its objectives?
Managers
You manage a local baseball team, and you allow the nine members to choose the position each will play. Your team has high morale, wins a local tournament, and the members decide to split the winnings equally. You have been influenced by the ideas of
Mary Parker Follett
The psychologist who developed the idea that human needs are arranged in a hierarchy of importance is
Maslow
What term describes an international economic organization comprised of 30 countries that accept the basic principles of free-market economies and representative democracy, and that recommend and promote policies to improve the well-being of consumers and societies across the world?
OECD
What is meant by geographic division structure?
Organization of divisions by geographic region.
What term describes a person's ability to satisfy or deny satisfaction of another's need, based on a formal contractual relationship between an organization and the individual?
Organizational Power.
New employees learn who is important in a company and who is not by knowing its
Organizational Structure.
Which of the following characteristics relates to reward power?
Organizational power that stems from a person's ability to bestow rewards
Which of the following characteristics relates to suppliers?
Organizations and individuals that provide resources to other organizations.
What name is given to the activities involved in designing jobs for employees, grouping these jobs together into departments, and developing working relationships among organizational units/departments and employees to carry out the plans?
Organizing
When the manager of the Boston Red Sox uses the scouting, player development, and travel departments to make plans for an upcoming series, he is
Organizing
What name is given the transfer of manufacturing or other functions (such as data processing) to countries where labor and supplies are less expensive?
Outsourcing.
When an organization carries out the tasks of manufacturing a product or products, but contracts with other organizations to do all the supporting functional tasks, such as marketing, it is said to be
Outsourcing.
Perhaps the most basic assumption about the nature of people in Taylor's system of scientific management is that
People are rational beings and economically motivated.
When an organization gives someone authority, it expects something in return, namely
Responsibility
Your boss tells you that it is up to you to get the widget order out on time. You requisition two employees from the production department to help you, but the production manager says you can't have them. The order goes out late, and you are blamed. You have been given
Responsibility without Authority.
Which of the following refers to the individual's burden of accountability for attainment of the organization's goals?
Responsibility.
What name is given to the evaluation of the organization's internal strengths and weaknesses and the opportunities and threats associated with the business's external environment?
SWOT Analysis.
What term describes groups that have a less formal connection to the organization, such as environmentalists, special interest groups, and the media?
Secondary Stakeholders.
An employee's confidence that he or she can perform a task or behavior successfully is called
Self-Efficacy
Which of the following characteristics relates to dumping?
Selling for less that production costs.
What is meant by interpersonal skills?
Skills such as communication, listening, conflict resolution, and leading that are necessary to work with others.
What is the theory that states that employees learn not only through direct experience but also through observation and personal qualities?
Social Learning Theory.
What name is given to those factors that have a direct effect on a specific organization and its managers, including customers, suppliers, competitors, substitutes, and potential new entrants to the industry?
Task environment.
You own a bakery that makes fine bran muffins, but you lose a customer to another bakery that offers him a 25 percent discount for similar muffins. You are facing a challenge in the
Task environment.
Which of the following characteristics relates to a business-level strategy?
The area of responsibility usually assigned to the divisional-level managers
Sociocultural Dimension
The aspect of the general environment that includes the demographics, attitudes, and the values of the society within which an organization operates
Strategic planning differs from general planning in that it focuses on
The external environment and long term goals.
Which of the following characteristics relates to technical skills?
The knowledge and ability to accomplish the specialized activities of the work group
The greater a person's exposure to unethical behavior, the greater is the likelihood that
The person will behave unethically.
The most accurate definition of the technological dimension of the general environment is Selected:
The process of changing inputs to outputs.
Which of the following characteristics relates to leadership?
The process of influencing the activities of an individual or a group toward the achievement of a goal
What is meant by decline?
The product life cycle stage marked by decreases in the product's market share
You advertise heavily for a manager for your new, high-tech computer-chip factory in the Midwest, but you simply cannot find a trained person. You are encountering a modern version of what historical problem?
The productivity problem.
Which of the following characteristics relates to motivation?
The value of each potential outcome which describes its importance
Which of the following characteristics relates to organizational culture?
The values, norms, and artifacts shared by members of an organization
What is meant by organizational structure?
The way managers group jobs into departments and departments into divisions.
What term describes the assumption that people are naturally lazy, must be threatened and forced to work, have little ambition or initiative, and do not try to fulfill any need higher than security needs at work?
Theory X.
Which of the following characteristics relates to motivational factors?
Those aspects of a job that relate to the content of the work, including achievement, recognition, the work itself, involvement, responsibility, and advancement
A major criticism of the classical theories of management has been that they were
Too narrowly focused on work.
Which of the following refers to a more traditional approach in which managers engage in both task- and consideration-oriented behaviors in an exchange manner?
Transactional Leaders.
What term describes a style that goes beyond mere exchange relationships by inspiring employees to look beyond their own self-interests and by generating awareness and acceptance of the group's purposes and mission?
Transformational Leaders.
In the systems approach to management, synergy is an expression of the idea that
Whole is more than the sum of its parts.
In analyzing the relationship between ethics and social responsibility, ethics may be viewed as
a component of social responsibility
When a nation pays for imports with its own goods, it is using
a countertrade agreement.
It is interesting that in certain industries, such as the hotel industry, service personnel
actually dislike increased empowerment.
Poor morale is most likely to cause
absenteeism.
The United States' prohibition of the importing of Cuban cigars is an example of
an embargo
Because there are numerous suppliers of potatoes for such major fast-food chains as McDonald's, Wendy's, and Burger King, the suppliers
are actually a suppliers' cartel.
What term describes the design of jobs based on the view that workers are independent parts of the production process whose individual characteristics should be taken into account in forming jobs?
behavioral approach to job design.
The distinguishing feature of division of labor, or specialization, is that it
breaks a job into component tasks and assigns a component to each worker.
In the United States, if a businessperson brought an elaborately wrapped gift to a prospective client on their first meeting, it might be viewed as
bribe.
What term describes the pattern of concentrating authority in a relatively few, high-level positions?
centralization.
The lowering of the fat content in many American food products is an example of
changing values in regard to food products.
A positive contribution of the informal relationships in the organization's operation is
communication and interaction.
The difference between an ethic and a law is that a law
defines a minimally accepted standard of conduct.
The primary weakness of the matrix structure is
each member reports to two bosses.
When Henri Fayol said that management's role is to "forecast and plan, to organize, to command, to coordinate, and to control," he was stating the
functional definition of management.
As defined in the text, organizations are groups of individuals who work together to achieve
goals and objectives important to them.
The so-called "Protestant ethic" held that
hard work and self-denial would lead to a better afterlife.
Giving employees tickets to "cash in" for a paid day off when they get their projects done well ahead of the deadline is an example of the creative use of
informal rewards
Although regulations and laws sharply limit a leader's ability to use coercive power, it is a fair assessment that
it is still far too common.
In the process of organizing, a first or basic step is usually grouping tasks into
jobs
The phrase caveat emptor means
let the buyer beware.
The group in a corporation that has legal responsibility to represent the stockholders is
the Board of Directors
Herzberg's two-factor theory proposes that
the absence of maintenance factors may dissatisfy workers
Ethical violations destroy
trust
The role of management in fostering ethical behavior in an organization is extremely important because managers
who ask employees to do something wrong have a powerful influence.
What is meant by behavior modification?
An application of reinforcement theory, which involves change in behavior and encouraging appropriate actions by relating the consequences of behavior to the behavior itself
With regard to leadership and management, most American companies today appear to be
Under-led and over-managed.
In applying reinforcement theory, one of the problems in punishing unacceptable behavior is that punishment may produce
Undesirable long-term side effects.
According to research, the most important factor affecting daily ethical decisions at work is the
Work group or perceived ethicalness of the work group.
One of Mary Parker Follett's major contributions to the behavioral approach to management was her stress on the importance of
Work groups as an influence on behavior.
The ______ loans money to countries throughout the world for reconstruction and development, and also makes loans to poorer countries for infrastructure and social services purposes.
World Bank
There is increasing evidence that transformational leaders
exist at all levels in organizational hierarchies and in a broad range of organizations.
What is the systems approach to management theory?
An approach to management theory that views organizations and the environments within which they operate as sets of interrelated parts to be managed as a whole in order to achieve a common goalThis answer is correct.
What is meant by a turbulent environment?
An environment wherein customer or other stakeholder demands are continuously changing or the primary technology of the firm is constantly being improved and updated
Frederick Taylor
Analyzed jobs to improve efficiency.
What term describes the agreement between ten Southeast Asian countries with the goal to promote economic growth and overall progress in the area via trade and security?
Association of Southeast Asian Nations
When a product has been on the market for many years, such as the automobile, and its growth is slow at best, what stage of the product life cycle is it said to be in?
Maturity
What name is given to the obligation a business assumes to maximize its positive impact and minimize its negative impact on society?
Social Responsibility
______ refers to an organization's obligation to maximize its positive impact and minimize its negative impact on society.
Social Responsibility
Also known as moral philosophies, what term describes sets of principles that describe what a person believes are the right way to behave?
Social Responsibility.
Social responsibility is the obligation a business has to
Maximize its positive impact and minimize its negative impact on society.
"Improving people's lives by providing gas and electric services in a sustainable way -- affordable, reliable and clean" is an example of
Mission Statement.
What term is used to describe a formal written declaration of the organization's mission that often includes the firm's philosophy, its primary products and markets, the intended geographic scope, and the nature of the relationships between the firm, its stakeholders, and society?
Mission Statement.
Which of the following refers to a definition of an organization's fundamental purpose and its basic philosophy?
Mission.
A set of principles that describe what a person believes is the right way to behave is called
Moral Philosophy
Which of the following refers to the sum total of employees' attitudes toward their jobs, employer, and colleagues?
Morale.
Your company's work teams have won national awards for making the finest widgets ever seen. Your loyal and productive workers have never been more proud of their work. What important characteristic of motivation is probably at an all-time high at your company?
Morale.
The _____ conflict that exists within an organization, the _____ the perception of the ethicalness of the work group.
More;Lower
You are a frenetic, workaholic manager. You trust no one but yourself. You do everyone's work for them. While they play cards and take four-hour lunches, your subordinates laugh at you because of your complete inability to
Motivate.
To achieve organizational objectives, employees must have the ability, tools, and _____ to perform their jobs.
Motivation.
What term describes institutions such as governments, social cause organizations, and religious groups that cannot retain earnings over expenses, do not have equity interests, and cannot be bought or sold?
Non-Profit.
Which of the following refers to a set of activities intended to achieve goals, whether for an entire organization, department, or an individual?
Plan.
What term describes the relationship of individuals, their rights, and their property to the state?
Political Forces.
Within the general environment, which of the following refers to the nature of the relationship between various areas of government and the organization?
Political-Legal Dimension.
You are the international marketing manager for Checker Burger, Inc., producer of a popular soy burger. There is an excellent market for your burgers in the republic of East Slabovia, a producer of high-quality brandy. The only problem is that East Slaboviar currency is not accepted on the international currency exchange. What can you do to help your trade?
Barter burgers for brandy.
Motivational theories that assume that workers are motivated by the desire to satisfy needs, and then seek to identify what those needs are, are called
Content Theories.
What term describes a group of theories that assume that workers are motivated by the desire to satisfy needs and that seek to identify what their needs are?
Content Theories.
You own a painting business in Minnesota. You watch the Weather Channel faithfully and schedule indoor painting for cold/wet days and outdoor painting for warm/dry days. You are using what management theory?
Contingency Theory.
What term describes a business-level strategy aimed at achieving the overall lowest cost structure in an industry?
Cost Leadership.
China's arrangement with the Congo to barter infrastructure in exchange for metals is an example of a
Countertrade Agreement.
According to the text, a blueprint of acceptable behavior that is passed from one generation to the next is called
Culture
The beliefs, traditions, philosophies, rules, and heroes shared by the members of the organization are referred to as the organization's
Culture
Which of the following refers to those who purchase an organization's goods and/or services?
Customers.
What term describes accomplishing the objectives with a minimum of resources?
Efficiently
What name is given to the most effective managers, who engage in both dimensions of leadership behaviors by getting employees involved in the operation of their departments or divisions in a positive and constructive manner, setting general goals, providing fairly loose supervision, and recognizing employees' contributions?
Employee-Centered Leaders.
What term describes the process of providing employees with the ability to contribute input and take on responsibilities for organizational decisions?
Empowerment.
What term describes a theory stating that the extent to which people are willing to contribute to an organization depends on their assessment of the fairness of the rewards they will receive in exchange?
Equity Theory.
Which of the following characteristics relates to the World Bank?
Established and supported by the industrialized nations in 1946 to loan money to underdeveloped and developing countries
Which of the following refers to an identifiable problem, situation, or opportunity that requires a person or organization to choose among several actions that may be evaluated as ethical or unethical?
Ethical Issue.
Which of the following refers to a comprehensive evaluation of a firm's ethics and compliance program and its ethical decisions used to determine whether the program is effective?
Ethics Audit.
The organizational chart shows the structure of the ________, which is the arrangement of positions that dictates where work activities are completed, where decisions should be made, and the flow of information.
Formal Organization.
What term describes the arrangement of positions, as shown on an organizational chart, that dictates where work activities are completed, where decisions should be made, and the flow of information?
Formal Organization.
Which of the following refers to the grouping of jobs according to similar economic activities, such as finance, production and operations, and marketing?
Functional Structure.
The scientific-management theorist who studied the motions of bricklayers and nearly tripled their productivity was
Gilbreth
You watch a painter paint a house, and you videotape her movements. Later, you make specific recommendations for reducing her painting motions so she can be more efficient, and you also design a movable ladder for her to reduce fatigue. You are a disciple of
Gilbreth
You are an apple farmer and spokesperson for the American Apple Association. You are faced with severe dumping from apple growers in Transoceania, where apples grow wild and the people pay to pick apples as a form of recreation. To counter this threat, you are going to lobby Congress and the president to
Impose a protective import tariff.
The real cause of the increase in output at Western Electric's Hawthorne plant was
Increased attention paid to workers.
The basic assumption of the classical approach to job design is that division of labor and job specialization
Increases organization's overall productivity.
What is meant by leading?
Influencing others' activities to achieve goals.
One of the reasons that a university president's secretary often may have a great deal of influence and power within the university community is that he or she typically possesses
Information Power.
You are a computer whiz, and you have installed some software that monitors all incoming and outgoing company emails. You have no formal understanding of leadership theory, but you clearly understand
Information Power.
What term describes activities--including reporting, preparing data analyses, briefings, delivering mail, emailing, websites, and making telephone calls--that focus on data important for the decisions the manager needs to make?
Informational roles.
Which of the following refers to the buying, selling, and trading of goods and services across national boundaries?
International Business
When a manager uses skills that are necessary to work with other people, such as communicating and listening, he or she is using
Interpersonal Skills.
Which of the following refers to a working arrangement whereby two employees do one job?
Job Sharing.
The process of dividing jobs among individuals so that each person has only a few tasks to perform is called
Job Specialization/DOL
What name is given to the product life cycle stage when the product's market share either slows or has no growth?
Maturity
Your fellow employees regularly take home company supplies such as paper, pens, tape, and glue for their personal use. Although you feel it is wrong to do so, you begin taking home company supplies too. The strongest influence on your behavior is
Overall moral climate.
What is meant by expectancy?
Person's expectation that effort will lead to higher performance.
What name is given to a person's ability to satisfy or deny satisfaction of another's need, based on an interpersonal relationship between individuals or on his or her personal characteristics?
Personal Power.
____ coined the term management by objectives in his 1954 work Practice of Management.
Peter Drucker
Which of the following refers to those who have a formal and/or contractual relationship with the firm, such as customers, suppliers, employees, regulators, investors, and communities?
Primary Stakeholders.
Which of the following characteristics relates to business ethics?
Principles, values, and codes of conduct that define acceptable behavior in business
What name is given to a process theory that assumes that behavior may be reinforced by relating it to its consequences?
Reinforcement Theory.
Most businesspeople engaged in international trade underestimate the importance of
Social and cultural differences.
What term is used to describe the actual number of subordinates over which a position has authority?
Span of Control.
Which of the following refers to a person or group that can affect, or is affected by, an organization's goals or the means to achieve those goals?
Stakeholder
What name is given to the degree to which a firm understands and addresses stakeholder demands?
Stakeholder Orientation.
Which of the following refers to a partnership formed to create competitive advantage on a worldwide basis?
Strategic Alliance
The agreement between Japan's Sony Corporation and the Swedish telecommunication company Ericsson to make mobile phones is an example of a
Strategic Alliance.
Which of the following refers to a general statement of actions an organization intends to take or is taking that is based on the fit of the organization with its external environment?
Strategy.
What term describes goods or services that may be used in place of those furnished by a given business?
Substitutes.
The work of W. Edwards Deming is most appropriately classified in which theory of management?
Systems.
You own a gourmet restaurant in Atlanta. You send your chef, Pierre LePeachtree, to a major international restaurant-owners' meeting so he can find out what some of the hot new entrees are around the world. You are being sensitive to the
Task Environment.
