BUS 300 – Exam 1 Review

1. BUS 300 – Exam 1 Review Chapter 1-5 Spring 2009 Larry Strizich

2. Managers & Management • Describe the difference between managers & operatives • Title • Function • Differentiate between efficiency & effectiveness • Describe the four primary processes of management

3. Managers & Mgmt • Classify the 3 levels of managers & identify the primary responsibility of each group • First-line supervisors • Middle Managers • Top managers • Essential roles performed by managers • 10 roles in three sets

4. Managers & Mgmt • Interpersonal • Transfer of information • Decision making • Is a managers job generic • Some generic properties • Four activities

5. Managers & Mgmt • Four General skills of a successful manager • Value of studying management • Why study popular humanities & social sciences w/r management practices.

6. The Management Environment • Describe the three waves of modern social history & their implications for organizations. • Agriculture • Industrialization • Information • Explain the Importance of viewing management from a global perspective • Identify ways in which technology is changing a manger’s job. • Describe the difference between and e-business, eCommerce, and an e-organization.

7. The Mgmt Environment • Define social responsibility & ethics • What is entrepreneurship • What are the components of the entrepreneurial venture. • Describe the management implications of a diversified workforce • Identify the work/life concepts that affect employees.

8. Explain why many corporations have downsized • Describe the key variables for creating a customer-responsive culture. • Why do companies focus on Quality and continuous improvement.

9. Planning • Define Planning • Explain the potential benefits of planning • Identify the potential drawbacks of planning • Distinguish between strategic and tactical Plans • When are directional plans preferred over specific plans

10. Planning • Define Management by objectives • Identify it’s common elements • Goal Specificity • Participative decision making • Explicit time periods • Performance feedback

11. Planning • Describe the four grand strategies • Growth • Stability • Retrenchment • Combination • Explain SWOT analysis • Strengths, weaknesses, opportunities, Threats • How do entrepreneurs identify a competitive advantage

12. Foundations of Decision Making • Describe the steps in a decision making process • Identify a problem • Identify decision criteria • Allocate weights to criteria • Develop alternatives • Analyze alternatives • Select and alternative • Implement • Evaluate effectiveness

13. Decision making • What are the assumptions of the rational decision making model • Explain the limits to rationality • Define – certainty, risk & uncertainty as they relate to decision making • Describe the actions of the bounded-rational decision maker

14. Indentify 2 types of decision problems an the 2 types of decisions that are used to solve them. • Define Heuristics and explain how they affect decision making processes.

15. Identify four decision making styles • Directive • Analytic • Conceptual • Behavioral • Describe the advantages and disadvantages of group decisions.

16. Explain three techniques for improving group decision making • Brainstorming • Nominal group technique • Electronic meetings

17. Organizational designs • Six elements of organizational structure • Work specialization • Unity of command • Span of control • Authority • Responsibility • Centralization vs decentralization • Advantages & disadvantages of work specialization

18. Org Designs • Contrast authority and power • Identify the five different ways management can departmentalize • Function • Product • Customer • Geography • Process

19. Contrast mechanistic and organic organizations • Summarize the effect of strategy, size, technology and environment on organizational structures. • Contrast the divisional and functional structures • Explain the strengths of the matrix structure

20. Describe the boundryless organization and what elements have contributed to its development • Explain learning organization • Describe organizational culture