Exam2_review_

Exam2_review_ - purpose of the control process and what are...

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Review for Exam # 2 Chapters 5, 6 and 7 Chapter 5 -Understand the definition of an Entrepreneur and the characteristics associated to being a successful entrepreneur. -Know what is a small business and the reasons for business failure …make sure you understand the reasons so that you could explain them, if need be. -The Small Business Administration SBA ; know why it was created/the purpose of it. Chapter 6 - Know what is meant by the organizational mission statement - the 4 major job functions of management and what each involves: 1. planning 2. organizing 3. controlling 4. leading - know the 4 types of planning and the differences between each stages (strategic, tactical, operational, contingency) -What is the
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Unformatted text preview: purpose of the control process and what are the 5 steps of the control process (make sure to understand that the steps MUST be in order as they would not make sense in any other way)- Review the Decision Making Process and understand the 5 steps (in order) of how a manager would make a decision.- Why is leadership such an important role?- know what is meant by employee empowerment? Chapter 7- Know the difference between a centralized and decentralized organization- What is meant by the Chain of command- What is meant by the term span of control and the 5 factors that determine the optimal(best or maximum satisfaction)span of control- What are the strengths of group decision making?...
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