MGT 300 Study Guide - Midterm Guide: Soft Skills, Knowledge Management, Competitive Advantage

• School: University of Alabama
• Department: Management
• Course: MGT 300
• Professor: houston

Document Summary

Competitive advantage: the ability of an organization to produce goods and services more effectively than competitors do, thereby outperforming them. Conceptual skills: consist of the ability to think analytically, to visualize an organization as a whole and understand how the parts work together. Controlling: (one of the four principle functions) monitoring performance, comparing it with goals, and taking corrective action as needed. Decisional roles: managers use information to make decisions to solve problems or take advantage of opportunities, include roles as entrepreneur, disturbance handler, resource allocator, and negotiator. Effective: to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organization"s goals. Efficient: to use resources such as people, money, and raw materials wisely and cost- effectively. Front-line manager: managers who make short-term operating decisions, directing the daily tasks of nonmanagerial people. Functional manager: responsible for just one organizational activity.