What are the core management skills? Why are these important to all managers?
What will be an ideal response?
The core management skills are technical, human relations, and conceptual skills. Many people also include problem solving/decision making and communication among the managerial skills. All managers need these skills, but in different mixes. For instance, the executive level manager needs conceptual skills (essentially the ability to see the organization as a whole) much more than the first-line manager. The first-line manager needs technical skills (those skills involved in making a product or service) much more than the executive manager. The middle level of management needs an equal mix of these three skills. All managers must solve problems and make decisions. The types of problems that an executive encounters are much different from a first-line supervisor, and require more conceptual skills. All managers need communication skills equally.
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Which of the following techniques is an illustration of the use of options to control capacity to match demand?
A. overbooking B. adjusting prices to augment demand C. annualized hours strategy D. using different fare classes to partition demand
Draw the five forces model of competition and briefly describe the relevance of each of the five forces in determining the overall strength of competitive pressures a company faces. Which of the five competitive forces is typically the strongest?
What will be an ideal response?
Justin's Lawn & Lot is a small business that provides landscaping and lawn-mowing services in the spring and summer. Justin's usually contracts with customers on an annual basis, with the terms set out at the beginning of the season. This year, the area experienced a significant amount of rain, causing the grass to grow more quickly. Justin's was required to cut the grass every time it grew 2 inches, and no matter how many times it needed cutting, the customer paid the same monthly amount based on the original contract. The price of gas has now grown by 35%, causing Justin's to pay more for their supplies. The demand for gas despite its price represents ________ demand for Justin's Lawn & Lot.
A. elastic B. inelastic C. derived D. joint E. separate
The Family and Medical Leave Act allows an employee to take an unpaid leave of up to twelve workweeks in a twelve-month period because of a serious health condition
Indicate whether the statement is true or false