| Question | Answer |
| What are the four functions of management? | Organizing, Planning, Leading, Collaborating |
| What are the three levels of management? | Strategic (top-level), Tactical (mid-level), and operation (low-level) |
| What are the five types of management flows? | upward, downward, horizontal, inward, outward |
| What is associated with the Traditional (Directive) Management Model? | Scientific model. What can the employees do for the managers? |
| What is associated with the Non-Traditional (Supportive) Model? | Human Relations model. What can the managers do for the employees? |
| What are hard skills? | cognitive (thinking), psychomotor (working) skills. the ability to perform a specialized task involving a particular method or process |
| What are soft skills? | affective, feeling, attitude. Conceptual and decision skills. Pertain to the ability to identify and resolve problems for the benefit of the organization and its members. |
| What are micro skills? | specialized skills. be an expert in something, give specific skills that provide concrete, identifiable value to your firm or customers |
| What are macro skills? | generalized skils. know enough about a variety of business or technical disciplines so that you can understand and work with different perspectives. |
| what is networking? | being connected and having many good working relationships, being a team player |
| What are formal skills? | Knowing how to get information and understanding it. |
| What are informal skills? | Knowing how to get information from other people |
| What is competitive advantage? | Being better than your competitors at doing valuable things for your consumers |
| What gives you the first mover advantage? | You are the first to do something in the market, which gives you a temporary competitive advantage |
| What is core competency, and how does it relate to competitive advantage? | It is when a company does their activity the best in order to create a competitive advantage |
| What is social capital? | goodwill stemming from your social relationships |
| what is emotional intelligence? | "EQ" - the skills of understanding yourself, managing yourself, and dealing effectively with others |
| Most fundamental EQ skill? | empathy |
| What is knowledge management? | The set of practices aimed at discovering and harnessing an organization's intellectual resources - fully utilizing the intellects of the organization's people. |
| What is systematic management? | It is a style that attempted to build specific procedures and processes into operations to ensure coordination of effort. It emphasized economical operations, adequate staffing, maintenance of inventories to meet consumer demand, and operational control. |
| What is the bureaucracy approach? | A classical management approach emphasizing a structured, formal network of relationships among specialized positions in the organization. |
| What is the administrative management approach? | A classical management approach that attempted to identify major principles adn functions that managers could use to achieve superior organizational performance |
| What is quantitative management? | A contemporary management approach taht emphasizes the application of quantitative analysis to managerial decisions and problems |
| What is organizational behavior? | A contemporary management approach that studies and identifies management activities that promote employee effectiveness by examining the complex and dynamic nature of individual, group, and organizational processes |
| What is a contingency perspective? | An approach to the study of management proposing that the managerial strategies, structures, and processes that result in high performance depend on the characteristics, or important contengencies, or the situation in which they are applied. |