Question 1

Identify and briefly define the three major types of managerial skills.

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Question 2

Define competitive advantage.What are its four building blocks?

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Question 3

What is restructuring and what are its disadvantages?

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Question 4

What does the managerial function of controlling involve?

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Question 5

What does the managerial function of organizing involve? What is its outcome?

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Question 6

What is organizational performance and what is its relationship with efficiency and effectiveness?

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Question 7

Define planning.What are the three steps in the planning process?

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Question 8

What are the reasons behind studying management?

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Question 9

Discuss the concept of turnaround management.

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Question 10

Identify the three levels of management and explain the basic responsibilities of each.

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Question 11

Discuss the managerial function of leading.What is its outcome?

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Question 12

Define efficiency.When is an organization said to be efficient?

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Question 13

The creation of a new vision for a struggling company based on a new approach to planning and organizing to make better use of a company's resources and allow it to survive and prosper is _______________ management.

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Turnaround management is the creation of a new vision for a struggling company using a new approach to planning and organizing to make better use of a company's resources and allow it to survive and eventually prosper.It involves developing radical new strategies such as how to reduce the number of products sold or change how they are made and distributed,or close corporate and manufacturing operations to reduce costs.

Question 14

Explain the significance of information technology with regards to empowering employees and facilitating self-managed teams.

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Question 15

Explain the following terms: strategy,low-cost strategy,and differentiation strategy.

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Question 16

Explain effectiveness.When is an organization said to be effective?

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Quiz 1: The Management Process Today