Premium Essay

Business Management Chapter 1 Review Questions

In: Business and Management

Submitted By ifslick
Words 542
Pages 3
Chapter 1 – Subject Review Questions 1. I have worked for my current boss, Mr. Ford, in the field of youth social services for nearly a decade. Due to his leadership, I have remained with the agency throughout tumultuous periods. He has always challenged his employees to strive for quality of service at the greatest speed possible. Mr. Ford organizes employees to create a dynamic workforce capable of adapting to changes affected by the macroenvironment. In an effort to continue to win Requests for Proposal bids, Mr. Ford has consistently operated an efficient service program that is cost competitive with other service providers and fiscally sustainable.

2. One of the greatest ways that the Internet impacts my life on a daily basis involves how it has allowed knowledge to be shared instantaneously and with increasing accuracy. I am able to receive information about events and interests in real time. Instead of having to search libraries for dated information, as I did as a youth, I can find information that is relevant and current from trusted sources. Now it is possible to access peer-reviewed publications from esteemed institutions. Globalization, in conjunction with the Internet, has provided access to news and information from around the world. I enjoy reading articles from the perspectives of those of other nationalities and now, thanks to Google Translate, I can read articles that were written in foreign languages.

3. I have always admired Google for how the company treats its employees. Besides offering all kinds of free perks to employees such as gourmet food, massages, childcare and gym memberships, the company also strives to cultivate good management practices. Their managers were described in a New York Times article as “consistent and fair.” The manager who was being interview in the article proposed that employees on a team with a…...

Similar Documents

Premium Essay

Chapter 4 Review Questions 1-5

...Chapter 4 “IT Infrastructure: Hardware and Software” Review Questions 1-5 1. What are the components of IT infrastructure? • Define information technology (IT) infrastructure and describe each of its components. IT infrastructure consists of the shared technology resources that provide the platform for the firm’s specific information system applications. Major IT infrastructure components include computer hardware, software, data management technology, networking and telecommunications technology, and technology services. 2. What are the major computer hardware, data storage, input, and output technologies used in business? * Computer Hardware: Mainframes, midrange computers, PC’s, workstations, and supercomputers. * Data Storage: Magnetic disk, optical disc, magnetic tape and storage networks. * Input devices: Keyboards, computer mice, touch screens (including those with multitouch), magnetic ink and optical character recognition devices, pen-based instruments, digital scanners, sensors, audio input devices, and radio-frequency identification devices. * Output devices: Display monitors, printers, and audio output devices. • List and describes the various type of computers available to businesses today. * Mainframes are a large-capacity, high-performance computer that can process large amounts of data very rapidly. * Midrange computers are servers computers are specifically optimized to support a computer network, enabling users to share......

Words: 3229 - Pages: 13

Premium Essay

Chapter 10 Exercises Review Questions 1-10

...Chapter 10 Exercises Review Questions 1-10 1. Define the term system architecture. Define the term scalability, and explain why it is important to consider scalability in system design. System architecture translates the logical design of an information system into a physical structure that includes hardware, software, network support, and processing methods. Then, Scalability is the measure of a system’s ability to expand, change, or downsize easily to meet the changing needs of a business enterprise. Scalability is important to consider in implementing systems that are volume related, such as transaction processing systems. 2. When selecting an architecture, what items should a systems analyst consider as part of the overall design checklist? Before selecting a system architecture, the analyst must consider the following issues: Enterprise resource planning (ERP) Initial cost and (TCO) Scalability Web integration Legacy system interface requirements Processing options Security issues 3. What is enterprise resource planning (ERP)? What is supply chain management? Enterprise resource planning (ERP) defines a specific architecture, including standards for data, processing, network, and user interface design. It is important because it describes a specific hardware and software environment that ensures hardware connectivity and easyintegration of future applications, including in house software and commercial packages. ERP also can extend to suppliers......

Words: 404 - Pages: 2

Premium Essay

Review Questions: Chapter 1

...Review Questions: Chapter 1 1.1. Define the following terms: data, database, DBMS, database system, database catalog, program-data independence, user view, DBA, end user, canned transaction, deductive database system, persistent object, meta-data, and transaction-processing application. • Data – known facts that can be recorded and that have implicit meaning. • Database – a collection of related data with an implicit meaning. • DBMS – a collection of programs that enables users to create and maintain a database • Database system – not only contains the database itself bit also a complete definition or description of the database structure and constrains. • Database catalog – the information about the database structure is stored in the Database Catalog which contains the structure of each file, the type and storage format of each data item, and various constrains of the data. • Program-Data Independence – DBMS access programs do not require changes in all programs due to the change in the structure of a file because the structure of data files is stored in the DBMS catalog separately from the access programs. • User View – a database typically has many users, and each of whom may require a different perspective or view of the database. A view may be a subset of the database or it may contain virtual data the is derived from the database files but is not explicitly stored. • DBA – a database administrator (short form DBA) is a......

Words: 2493 - Pages: 10

Premium Essay

Business Communications Management Chapter 1

...PART 1 Understanding the Foundations of Business Communication CHAPTER 1 CHAPTER 2 CHAPTER 3 Achieving Success Through Effective Business Communication Mastering Team Skills and Interpersonal Communication Communicating in a World of Diversity career, and how to adapt your communication experiences in life and college to the business world. Improve your skills in such vital areas as team interaction, etiquette, listening, and nonverbal communication. Explore the advantages and the challenges of a diverse workforce and develop the skills that every communicator needs to succeed in today’s multicultural business environment. N o other skill can help your career in as many ways as communication. Discover what business communication is all about, why communication skills are essential to your 1 1 1 2 3 Achieving Success Through Effective Business Communication LEARNING OBJECTIVES After studying this chapter, you will be able to Explain the importance of effective communication to your career and to the companies where you will work Describe the communication skills employers will expect you to have and the nature of communicating in an organization by using an audience-centered approach Describe the communication process model and the ways that social media are changing the nature of business communication 4 5 List four general guidelines for using communication technology effectively Define ethics, explain the difference between an ethical...

Words: 18600 - Pages: 75

Premium Essay

Small Business Management - Chapter 1

...us have had personal experiences with small business—as an owner, employee, friend, or relative of an owner, or in other relationships. Explain one or more such experience(s) you have recently had. I recently quit my job as a production coordinator and BCBG. This was a large company and in the end I realized that the benefits of a large company did not outweigh what I was losing in terms of personal job satisfaction. I returned to a much smaller business which only has 7 employees, including myself. I find that this provides me with more opportunity to learn all aspects of the business and gives me a more solid base of knowledge to build upon when I go to start my own company. After returning to a small business I found myself sleeping better at night and being excited to wake up in the morning and go to work, never knowing what fun tasks the day held for me. My coworker is always available and since she has personally done every job in the entire company, is a walking encyclopedia of knowledge and is able to answer every question I have. I also enjoy having a direct communication line to the owner of the business and approvals for projects and tasks are instant! I love it and couldn’t be happier. Best career move I ever made. 1.4) Distinguish between a small business and an entrepreneurial venture. If you were to start your own business, which would you wish it to be? Why? According to the text, a small business is independently owned and operated and......

Words: 1033 - Pages: 5

Premium Essay

Intro to Business Review: Chapter 1

...1. What factors contribute to the rapid pace of change in business?  Is the pace likely to accelerate or decrease over the next decade? Why? Answer: Some key factors contributing to the rapid pace of change in business are the economy and Wall Street. The interest rates and loan terms have greatly changed businesses. It is harder to borrow money, as a small business especially. The job market has also changed businesses dramatically. I believe the pace will accelerate over the next decade. The economy is recovering from the recession of 2008 and the business are buying and selling again and the unemployment rate is declining. 2. What role does entrepreneurship play in the economy?  Who stands to gain from the success of individual entrepreneurs?  How do other parties benefit? Answer: Entrepreneurial enterprises can kick start an economy, creating great opportunity for everyone involved in the building, developing and manufacturing of the product . The downside is that it could force out competing business.     3. When did American business begin to concentrate on customer needs?  Why?   Answer: Business began to focus on the customer needs during the Marketing era. The reason was more intense competition, which gave consumers more choices. Because of this meeting customer needs became an imperative for business success.   4. How do nonprofit organizations compare to businesses?  What role do nonprofits play in the economy?  How do they......

Words: 322 - Pages: 2

Premium Essay

Chapter 7 Review Questions

...Chapter 7 Review Questions 1. What is a knowledge management system? a. A Knowledge management system attempt to help organizations achieve their goals. They usually help in means of increasing profits or reducing costs. 2. What is a chief knowledge officer? What are his or her duties? b. A chief knowledge officer is a top level executive who helps the organization work with a knowledge management system to create, store, and use knowledge to achieve organizational goals. The duties that the CKO is responsible for are to work with other executives and vice presidents, including the chief executive officer, chief financial offer and others. 3. What is natural language processing? What are the three levels of voice recognition? c. Natural language processing allows a computer to understand and react to statements and commands made in a “natural” language, like English. The three levels of voice recognition are converting sound waves into words, then the natural language system processing system reacts to the words or commands by performing different tasks. 4. What is a learning system? Give a practical example of such a system. d. A learning system is a combination of software and hardware that allows a computer to change how it functions or reacts to situations based on the feedback it receives. A practical example of such a system would be, some computerized games have learning abilities. If the computer loses a game, it......

Words: 605 - Pages: 3

Premium Essay

Caff 321 Chapter 1-4 Review Questions

...MICHELLE LU - 011810966 CAFF 321 CHAPTER REVIEW QUESTIONS (1-4) Chapter 1 1. Why does Daniel Gilbert, author of Stumbling on Happiness, say that experiences might bring more satisfaction than durable goods? Do you agree or disagree? Although happiness is not easily defined and it really depends on who you ask and what their degree of happiness is in their life, Gilbert the author of Stumbling on Happiness, explains that experiences might bring more satisfaction than that of durable goods.  With this he is simply stating the fact that happiness is dependent the things you do in life and not the objects. It is the time that you share with friends and family what makes life meaningful and that creates happiness. All the objects in the world that money can buy is meaningless when you don't have anyone to share it with. 2. Harvard economists Alberto Alesina and Paolo Giuliano say that strong family ties imply more reliance on the family as an economic unit that provides goods and services and less on outside institutions such as those found in the market place and government.  Why does household production (doing things together or making things within the home) activity have such an impact on family ties?  Can you give an example from your own family?   Not completely sure if I am answering this question correctly but basically the way I see things, I must say I agree with both economists who say that strong family ties imply more reliance on the family as an economic unit......

Words: 2837 - Pages: 12

Premium Essay

Database Design Chapter 1 Review Questions

...1. a. Data – Raw facts b. Field – An alphabetic or numeric character or group of characters that defines a characteristic of a person, place, or thing. c. Record – A collection of related fields. d. File – A named collection of related records 2. Data redundancy occurs when the same data are stored in multiple places unnecessarily. Have more than one incorrect copies of information can cause it. 3. Data independence exists when you can change the data storage characteristics without impeding the program's ability to access the data. It is lacking because of how it has to tell the computer what to do, and how to do it. Causing the program to have much more lines of code than should be needed. 4. It is a software tool that makes it possible to organize data in a database. Its functions are data dictionary management, data storage management, data transformation and presentation. 5. Structural independence exists when you can change the file structure without affecting the application's ability to access the data. If it did not exist, any change to a files structure would require several extra steps for every single record in the file. 6. Data is raw facts that have not been processed. Information is data that has been processed and given context. Databases help to organize the manipulation of data to create information by providing an organizational structure that makes relationships and connections between data explicit. 7. The DBMS serves as the......

Words: 480 - Pages: 2

Premium Essay

Chapter 2 Review Question

...Applications in Info Security Chapter 4 Review Questions: 1)It might depend on the risk, although all risks should be addressed. The conditions that an organization might have is if they don't have a risk management plan or if they don't have the money to identify and mitigate the risk 2) 3)Alignment is important because it can align organizational goals with ICT works. The benefits to an organization as a whole is that it can align security processes with business goals. 4)Evaluation is important because it can determine if your team is achieving the objectives and this is usually done through gathering data and then analyzing it. Organizations benefit by collecting quantitative data because it can be used to evaluate the options and implications of a decision. 5)A contract is an agreement between a customer and a supplier, while the RFP is technically a bid solicitation. 6)Typically a subcontractor role is to perform specific tasks given by a general contractor. They can be controlled by the supplier to follow the right procedures that are given in the contract. 7)The problem resolution is important because it involves two parties in agreeing that all problems are identified, analyzed, managed, and controlled to resolution. 8)There are two types of reviews: Formal Reviews Informal Reviews In a formal review, the ICT is presented to a team or to an individual before the actual review. In the other hand the informal review allows the producer to......

Words: 334 - Pages: 2

Premium Essay

Chapter 1 Review Questions

...CHAPTER 1 REVIEW QUESTIONS 1. Define each of the following terms: a) Data: raw data not processed. This usually includes telephone numbers, a date of birth, customer name etc. It has little meaning until it is turned into information. b) Field: A character or group of characters that has a specific meaning. A field is used to define and store data. c) Record: A logically connected set of one or more fields that describes a person, place, or thing.  d) File: A collection of related records. 2. What is data redundancy, and which characteristics of the file system can lead to it? a. Data redundancy is when the same data are stored unnecessarily at different places. This can lead to poor data security, and data inconsistency. 3. What is data independence, and why is it lacking in file systems? b. Data independence is when you change the data storage characterizes and it doesn’t affect the program’s ability to access the data. 4. What is a DBMS, and what are its functions? c. A DBMS (database management system) is a collection of program that stores and manages data and control access to the data in the collection. It is responsible for creating, editing, deleting and maintain all the data inserted. 5. What is structural independence, and why is it important? d. Access to a file is dependent on the structure of the database. Without structural independence new changes such as adding a field, or a decimal in a......

Words: 1121 - Pages: 5

Premium Essay

Chapter 1 Review Questions

...CHAPTER 1 SOLUTIONS 1-2 There is a demand for auditing in a free-market economy because in the agency relationship there is a natural conflict of interest between an absentee owner and a manager and due to the information asymmetry that exists between the owner and manager. As a result, the agent agrees to be monitored as part of his/her employment contract. Auditing appears to be a cost-effective form of monitoring. The empirical evidence suggests auditing was demanded prior to government regulation such as statutory audit requirements. Additionally, many private companies and other entities not subject to government auditing regulations also purchase various forms of auditing and assurance services. 1-3 There is a natural conflict of interest in the agency relationship between an owner and manager because of differences in the two parties’ goals. For example, the manager may spend funds on excessive personal benefits or favour entity growth at the expense of stockholders values. If both parties seek to maximize their own self-interest, it is likely that the manager will not act in the best interest of the owner and may manipulate the information provided to the owner accordingly. 1-7 Audit risk is defined as the risk that ‘the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated’ (ISA 200). Materiality: ‘Misstatements, including omissions, are considered to be material if they, individually or in the......

Words: 857 - Pages: 4

Free Essay

Chapter 2 Review Questions

...Chapter 2 Review Questions 1. Why is information security a management problem? What can management do that technology cannot? Managing information security has more to do with policy and enforcement rather than technology. Management must address information security in terms of business impact and the cost. 2. Why is data the most important asset an organization possesses? What other assets in the organization require protect? Data in an organization represents its transaction records and its ability to deliver to its customer. Without this the organization would not be able to carry out day to day work. 3. Which management groups are responsible for implementing information security to protect the organization’s ability to function? Both management and IT management are responsible for implementing security to protect an organizations ability to function. 4. Has the implementation of networking technology created more or less risk for businesses that use information technology? Why? Networking is usually considered to have created more risk for businesses that use information security. The reason is that potential attackers have reader access to the information system. 5. What is information extortion? Describe how such an attack can cause losses, using an example not found in the text Information extortion is the act of an attacker or trusted insider who steals information from a computer system and demand compensation for its return or for an......

Words: 1152 - Pages: 5

Premium Essay

Project Management Chapter 1 Review Questions

...Chapter 1: Review Questions 1. What is a project? It is a temporary effort intended to create a unique product, service, or result. 2. What is project management? It is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. 3. How are projects different from ongoing operations? Projects are temporary and unique while operations are continuous. Operations are an ongoing process to ensure that an organization continues to work effectively. For instance, operation managers can often use checklists to guide much of their work, but project managers rarely have checklists that identify all of the activities they need to accomplish. 4. What types of constraints are common to most projects? Time and budget constraints are common to most projects for clients, and the amount of resources available and the decision maker’s risk tolerance are constraints from an internal point of view. 5. Which deliverable authorizes the project team to move from Selecting and Initiating to Planning? The approval of a charter 6. At what stage of a project life cycle are the majority of the “hands-on” tasks completed? At the execution stage 7. During which state of the project life cycle are loose ends tied up? During the Closing stage 8. What are the five process groups of project management? Initiating, planning, executing, monitoring and controlling, and closing 9. Which process group...

Words: 868 - Pages: 4

Free Essay

Intro to Business Chapter 2 Review Questions

...1. How did the global economic crisis unfold? It began during the 1990s when the American economy grew by almost 33% but changed for the worse in 2000 after the dot-com bubble burst & then after the 9/11 attacks in 2001. This created a stock market drop & a rise in unemployment. In effort to avert recession, the Federal Reserve dropped interest rates dramatically. Once interest rates dropped the economy was overflowing with money which lead lenders to be able to provide mortgage loans to, previously, undesirable borrowers. Now the demand for houses rose & so did the prices for the houses making these subprime loans attractive to lenders because of the high return. So the Banks & investment houses continued to invest in mortgage securities but the financial institutions did not maintain enough reserves in case the housing market crashed. Naturally, the housing market came crashing down leaving borrowers “upside down” in their loans & they were forced to foreclose. When this happened, the banks became unwilling to lend money so funds were not available for businesses. Without funds for everyday operations, businesses struggled causing layoffs & raising the unemployment rate. 2. What steps did the Federal government and the Federal Reserve take to mitigate the crisis? The Federal Reserve bailed out Bear Stearns & AIG. The U.S. Department of the Treasury seized Fannie Mae & Freddie Mac. Congress passes the economic bailout plan TARP which......

Words: 489 - Pages: 2