MGT 103 Mid-Term Examination Study Guide Spring 2017.docx - PRINCIPLES OF MANAGEMENT STUDY GUIDE – MGT 103 The following topics will be covered in the

MGT 103 Mid-Term Examination Study Guide Spring 2017.docx -...

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PRINCIPLES OF MANAGEMENT STUDY GUIDE – MGT 103 The following topics will be covered in the Mid-Term Examination: Purpose of assembling a team Definition of the term line manager A manager who heads a revenue-generating department and is responsible for achieving an organization's main objectives by executing functions such as policy making, target setting, decision making . Three types of planning used in the function of management operational, tactical and strategic. Definition of the term organizational design is a formal, guided process for integrating the people, information and technology of an organization . Definition of the term organizational planning Process of identifying an organization's immediate and long-term objectives, and formulating and monitoring specific strategies to achieve them . Definition of the term tactical planning A systematic determination and scheduling of the immediate or short-term activities required in achieving the objectives of strategic planning. Definition of the term environmental scanning is a process that systematically surveys and interprets relevant data to identify external opportunities and threats Challenges of working with people from different countries To succeed in cross-cultural environments, leaders need to understand, evaluate, and overcome the major challenges to ensure their businesses stay competitive in the market. Definition of the term centralization in decision-making 1. The concentration of management and decision-making power at the top of an organization's hierarchy. 2. The location of all or most main departments and managers at one facility. Definition of the unity of command The principle that no subordinate in an organization should report to more than one boss. Importance of social networks to corporate innovation Definition of a virtual organization is one whose members are geographically apart, usually working by computer e-mail and groupware while appearing to others to be a single, unified organization with a real physical location.
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