Effective managers must possess technical skills, human skills, and conceptual skills in varying degrees. After defining each term, justify your assessment of which of the three skills you deem to be most important to a successful manager.
What will be an ideal response?
Technical-understands and is proficient in the performance of specific tasks (knowledge and use of tools and techniques, as well as troubleshooting and problem solving). Human-can work with and work through other people, both individually and as a group (motivate, communicate, coordinate, lead, resolve conflict). Conceptual-can think strategically and see one's team as part of a bigger system (a company, an industry, a community, a society). Failed management is overwhelmingly attributed to lack of human skills (e.g., poor communication with employees and/or customers and lack of relationship building with the team).
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Strategic alliances are more likely to be long lasting when they involve
A. collaboration with suppliers or distribution allies, or when both parties conclude that continued collaboration is in their mutual interests. B. joining forces in R&D to develop new technologies cheaper than a company could develop the technology on its own. C. partners that respectively have considerable resource weaknesses in the marketplace. D. partners based in countries with distinctly different cultures and consumer buying habits and preferences. E. partners that are not only experienced with strategic alliances, but who also routinely enter into collaborative agreements with firms in peripheral industries.
When an industry is mature, a(n) ________ strategy is considered one of the most effective approaches for a new entrant.
A. overall low-cost B. small business C. differentiation D. focus
Sarah has $15,000 in monetary assets, $48,000 in annual living expenses, a $20,000 balance on her car loan, and $60,000 of equity in her house. What is her month's living expenses covered ratio?
A) 1.125 times B) 3.75 times C) 3.0 times D) There is not enough information to answer this question.
Assuming an after-tax cost of preferred stock of 12% and a corporate tax rate of 40%, a firm must earn at least $20 before tax on every $100 invested
Indicate whether this statement is true or false.