Exam Review Sheet PDF

Exam Review! 50 MC / 50 Marks 1 SHORT ANSWER / 10 Marks Unit 1: Management Fundamentals Unit 1, Lesson 1: Management Fundamentals (Organization) -​ What is an Organization? (definition) -​ What are the Two Performance Measures of productivity? (efficiency & effectiveness productivit...

Exam Review! 50 MC / 50 Marks 1 SHORT ANSWER / 10 Marks Unit 1: Management Fundamentals Unit 1, Lesson 1: Management Fundamentals (Organization) -​ What is an Organization? (definition) -​ What are the Two Performance Measures of productivity? (efficiency & effectiveness productivity) Unit 1, Lesson 2: Management Fundamentals (Managers) -​ What is a Manager? (definition) -​ What are the 3 Levels of Managers? (Top Manager, Middle Manager, Team Leader) -​ What are the 5 Types of Managers? Be able to explain three. -​ What are the Four Functions of Management? (leading, organizing, planning and controlling) -​ What does “Upside-down Pyramid” suggest? ​ Unit 1, Lesson 6: Corporate Social Responsibility -​ What is Corporate Social Responsibility? (definition) Unit 2: Planning Unit 2, Lesson 1: Why and How Managers Plan -​ What are the 5 Steps of Planning (know them in correct order) -​ What are the Benefits of planning? (know the three benefits) Unit 2, Lesson 2: Types of Plans Used by Managers -​ Types of Plans used by managers (Strategic, Tactical and Operational plans) Unit 2, Lesson 3: Planning Tools and Techniques -​ What are the Key Planning Tools (Forecasting, Contingency and Scenario Planning) -​ What is Benchmarking? Unit 2, Lesson 4: Implementing Plans to Achieve Results -​ What do SMART goals stand for? Unit 2, Lesson 5: Introduction to Strategic Management -​ What is Strategic Management? -​ What is a Competitive Advantage? -​ What are the Three Levels of Strategies? Unit 2, Lesson 6: The Strategic Management Process -​ Phases of the Strategic Management Process (3 phases) -​ What is a Mission statement? -​ What is a SWOT Analysis? Unit 3: Organizing Unit 3, Lesson 2: Introduction to Human Resource -​ What is Human Resource Management? (be able to recognize the definition) -​ Key Functions of Human Resource: -​ Recruitment and Selection, Training and Development, Compensation and Benefits, Employee Relations, Health and Safety (be able to define 3 of them) -​ 4 Categories of Labour: Unskilled, Semi-Skilled, Skilled, Professional Unit 3, Lesson 3: Forms of Compensation -​ Forms of Compensation: Hourly Wages, Salary, Salary Plus Commission, Straight Commission, Bonu s, Performance-Based Pay, Fee for Service, Royalty or Licensing Fee, Stock Options Unit 3, Lesson 4: Health and Wellness ​ Health: Double Loss; Sick Pay ​ Occupational Health and Safety Act and Canada Labour Code rights: ○​ Right to Know, Right to Participate, Right to Refuse Unit 3, Lesson 5: Rights in the Workplace ​ Employment Standards Act: What is it/what does it outline/include ​ Vocabulary (in relation to the world of business and the workplace): Discrimination, Employment Equity, Affirmative Action, Pregnancy Discrimination, Comparable Worth, Workplace Privacy, Sexual Harassment  ​ Employee Rights Unit 3 , Lesson 6: Employability Skills -​ 4 main categories, according to the Conference Board of Canada: Fundamental (Academic) Skills, Social and Emotional Skills, Personal Management Skills, Teamwork Skills (examples of each) Unit 3, Lesson 7: Controlling -​ Steps in the Control Process (know the order) Unit 4, Leading Unit 4, Lesson 1: The Nature of Leadership -​ What is leadership? -​ Different Types of Power -​ What are Leadership Traits? Unit 4, Lesson 2: Leadership Styles -​ 4 different types of leadership Styles Unit 4, Lesson 3: Issues in Leadership Development -​ Difference between Transformation, Transactional and Moral leadership Unit 4, lesson 4: Communication -​ Elements of the Communication Process Unit 4, Lesson 5: Perception and Personalities -​ PART 1: Perceptions -​ Psychological Contract (balanced vs unbalanced) -​ What is Ethnocentrism? -​ PART 2: Personality Myer-Briggs Big 5 Personality Traits Unit 4, Lesson 6: Attitudes, Emotions, Moods and Stress -​ 3 Components of Attitudes -​ Constructive vs. Destructive Stress -​ Moods vs. Emotions Unit 4, Lesson 7: Extrinsic vs. Intrinsic Rewards  -​ Extrinsic vs. Intrinsic rewards Unit 4, Lesson 8: Understanding Motivation through needs and Rewards -​ Maslow’s Hierarchy of Needs (Managerial Application) -​ Herzerberg’s Two Factor Principles (Satisfier Factors vs. Hygiene Factors)