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Business Management Flashcards | StudBud

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Business Management

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Review for Functions of Management, Maslow's Hierarchy of Needs, Theories of Management, and Key Terms

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Questions 10

Answers

1
The four management functions are
Planning, organizing, leading, controlling
Planning, organizing, leading, performance
Planning, organizing, resource, leading
Planning, informing, leading, controlling
2
Productivity means
Products made by firms in other countries
Products made by firms in the USA
A quantity produced within a given time
Producing the largest quantity in the least amount of time
3
Making the right decisions about what products and services to offer customers
Output
Empowerment
Efficiency
Effectiveness
4
Refers to all businesses within a category doing similar work
Efficiency
Innovation
Domestic Goods
Industry
5
Comes from rewards and punishments supplied by other people
Work Team
External Motivation
Power Need
Internal Motivation
6
Total Quality Management is
Management that synthesizes and analyzes workflow
Emphasizes loyalty to the employees
Management approach to long term success by customer service
Dividing work on basis of specialization
7
Service Business
Business that competes globally
Use labor to offer mostly intangible products
Produce goods used by other businesses to make things
Engaged in marketing, finance, and providing services
8
The most important need in Maslow's Hierarchy of Needs is
Security
Physiological
Esteem
Self-Actualization
9
The person who described motivation in terms of hierarchy of needs is
Herzberg
Cookie Monster
Big Bird
Maslow
10
The final step managers take in the controlling process is
Taking corrective action when standards are not met
Establishing new goals
Establishing performance standards for company goals
Measuring performance using established standards