Essentials Of Contemporary Management - Chapter 1 Study Guide Rated A+

Conceptual Skills {Ans: The ability to analyze and diagnose a situation and to distinguish between cause-and-effect.}Core Competency {Ans: These specific set of departmental skills, knowledge, and experience that allows one organization to outperform another.}Competitive Advantage {Ans: The ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than they do.}Turnaround Management {Ans: 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.}Global Organizations {Ans: Organizations that operate and compete in more than one country.}Controlling {Ans: Evaluating how well an organization is achieving its goals and taking action to maintain or improve performance; one of the four principal tasks of management.}