Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
28 Cards in this Set
- Front
- Back
|
What is the the written set of instructions that describes the series of of actions that a manager should take in a specific situation called? |
The standing operation procedure (SOP) |
|
|
Authority resides on the people or the position? |
The position |
|
|
If a beverage company decides to buy a potato chip company, this is called? |
Divesification |
|
|
True or False
Employees are more likely to be satisfied if they are responsible for their own actions |
True |
|
|
as a part of yearly planning activities, a company generates a list of future scenarios, this is called? |
Contingency plan |
|
|
a tall organization has more or less levels of authority? |
More |
|
|
In Porter's Five Forces Model, The ______ companies compete, the _______ the level of profits is likely to be in for that industry. |
More, Lower |
|
|
A pharmaceutical company is scared of which type of Porters Five Forces Model? |
Threat of substitute |
|
|
What is Vertical integration? |
The process in which several steps in the product distribution of a product or service are controlled by a single company in order to increase that company's power in the market place. |
|
|
Backward integration |
When a company tries to buy a company that does something else. like a car company buying a tire company. |
|
|
Horizontal integration |
When a company acquires other related companies? Like Coke buying Sprite. Creating a monopoly. |
|
|
Structuring an organization according to the goods it sells is called? |
Product structure |
|
|
how is the Operating Margin percentage calculated? |
By dividing the companies operating profit by the companies sales revenue. |
|
|
True or False
An organization is said to be highly leveraged if it used more debt than equity to finance its ongoing operations. |
True |
|
|
Control is defined as the process that directs the activities of individuals towards the achievements of the ___________ goals. |
Organizations |
|
|
Return on Investment (ROI) measures the amount of profit made as a percentage of ones investment, using? |
Net income before taxes |
|
|
How to calculate Profit Ratio |
Net income divided by revenues |
|
|
following a three step approval process for for a new supplier would be considered what kind of control? |
Feedforward |
|
|
Lewis law states that |
To motivate people towards change, and understand resistance. |
|
|
Current ratio is |
A liquidity ratio that measures a company's ability to pay short-term obligations. The Current Ratio formula is:
|
|
|
Bureaucratic control |
Bureaucratic control is a system of standardized rules, methods, and verification procedures used to ensure an organization achieves its goals.
Usually, this type of control can stop employees from thinking to themselves.
A type of communism control |
|
|
To calculate inventory turnover |
Figure out how much they sell their inventory for, then how much to they have in inventory. if a company sells $300,00 in a year. They started with 50,000 units a year, and they sell for 3 times the cost.
50,000 * 3 = 150,000
300,000 / 150,000 = 2
They turned over inventory twice if they made 300,000
|
|
|
What is more useful to managers? data or information? |
Information |
|
|
The technology life cycle begins with |
Recognition of a need, coupled with potential to satisfy a need through science of knowledge. |
|
|
The concept of singularity |
Ray Kurzweil, ever accelerating progress of technology and changes in the mode of human life
Folding the piece of paper 42 times - it would reach the sun. |
|
|
another word for Controlling is? |
Evaluating |
|
|
True or false?
Sometimes the most important innovation isn't the product itself, but the way it is delivered |
True - think of Jobs |
|
|
Two words that entails making rational decisions |
Cost and Benefit |
