Mid-Term Final Exam Study Guide Course Name: Intro to Business Course Number: GEB1011 Reference Number: Professor: Oscar D. Munoz, MBA Purpose: The purpose of this guide is to help students study and...

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Mid-Term Final Exam Study Guide Course Name: Intro to Business Course Number: GEB1011 Reference Number: Professor: Oscar D. Munoz, MBA Purpose: The purpose of this guide is to help students study and prepare for the final exam. Students are still responsible for reading and knowing all textbook chapters 6 - 10. In no way is this guide to be used to limit students study materials. Students are responsible for knowing all textbook chapters in preparation of the final exam. Chapter 6 · Know the definition of materials. It is a tangible, physical resources that a manufacturer uses in carrying out its business are known as what type of resource. · Define objectives. · What are the areas of specialization in management? · Know that a manager performing the functions of figurehead, liaison, or leader would be fulfilling a(n) administrative role. · What is leadership? Chapter 7 · What is a chain of command in an organization? · Know that in the book, The Wealth of Nations, Adam Smith emphasized the power of specialization. · Remember that grouping all jobs related to the same organizational activity is departmentalization by function · How does the textbook define the word delegation? · What is decentralized management? Chapter 8 · What is the book say is a synthetic process? · Remember that a process line is a group of similar products that differ only in relatively minor characteristics. · What does the textbook say is inventory control? · Although the number of manufacturing jobs in the United States has declined, productivity is pretty impressive, with productivity increasing due to innovation and increased output per worker. Chapter 9 · What are the activities involved in the acquisition of human resources are HR planning? They are job analysis, recruiting, selection, and orientation. · Know that determining a firm’s future human resources needs is referred to as recruiting. · Remember that well-managed cultural diversity is not likely to give preferential treatment to certain groups. · What is job specification? · What is the external recruiting? Chapter 10 · Know that it is uncharacteristic of low morale to have high productivity · What are the human factors at work in the Hawthorne Studies? · What does the termed “soldiering” mean? · What is the expectancy theory? The expectancy theory states that motivation depends on how much people want something and on how likely they believe they are to get it. · What is motivation? · What is the main discovery of the Hawthorne Studies was that human factors are at least as important to motivation as pay rates? · What is the piece-rate reward system? · In a management by objectives (MBO) system, what are the steps? Page 1