1. Describe the psychological contract you currently have or have had in the past with an
employer. If you have never worked, describe the psychological contract that you have
with the instructor in this class.
The psychological contract that I have had i
1. How does the breakdown analysis help managers measure the potential impact of
Measures the potential impact of various prices on the firms pricing objectives
before final prices are set. Breakdown analysis is usually used with cost-oriented
1. What are the basic differences between management and leadership?
The basic differences between management and leadership are:
management focuses primarily on the activities of planning, organizing,
leading, and controlling. Leadership is more related
1. What is an organization chart? What purpose does it serve?
A diagram depicting a companys structure and showing
employees where they fit into its operation. It serves to depict
the extent of line and staff authority, structure, and span of
1. What are the factors of production? Is one factor important than
others? If so, which one? Why?
Labor, capital, entrepreneur, and physical resources. No, one
factor is more important than others because they all are
important essentials in order to ru
1. What basic factors should be considered in any ethical decision?
Gather the relevant information.
Analyze the facts to determine the most appropriate moral values.
Make an ethical judgment based on the rightness or wrongness of the
proposed activity or
1. Relate the five basic management skills (technical, human relations, conceptual,
decision-making, and time management) to the four activities in the management
process (planning, organizing, leading, and controlling). For example, which skills
1. How does the balance of trade differ from the balance of payments?
Balance of trade is the total economic value of all the products that it exports
minus the economic value for all the products that it imports. Balance of trade
can either be positive o
1. What are the key similarities and differences between consumer buying behavior and
B2B buying behavior?
Similaritiesboth deal with the way people purchase and consume products.
Differences Buyers purchasing skills and an emphasis on buyer-seller