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About this document
- Pages
- 7 pages
- Price
- $7 one-time, yours to keep
- Membership
- Included in every plan
- Format
- Subject
- Business, Business Management
- Module
- MGT521
This study guide helps students prepare for the final exam in the MGT521 course. It covers practice questions related to each week’s objectives, including business communications, values, managing others, business analysis, the business environment, and business overview. It also refers to weekly readings and student guides for further study.
What's inside
- Business communications channels
- Evaluating sources of information
- Personal and organizational values
- Ethical decision making
- Entrepreneurship vs. working for others
- SWOT analysis
Who it is for: Students taking the MGT521 course and preparing for the final exam. (Postgraduate)
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Summary
Business management covers many topics. Students learn about communication, values, ethics, stakeholders, the business environment, and human resources. The guide helps students prepare for an exam.
Communication in Business
Communication channels differ in how rich they are. Students learn how to choose the best channel. They also learn how to evaluate information sources.
Values and Managing Others
Managers need to understand their own values and those of their organization. Students learn about strategies to promote teamwork. They also learn about ethical decision-making.
The Business Environment
Students learn about benchmarking and different types of accounting. They also learn about international trade and how businesses adapt to changing markets.
Human Resource Management
Human resource management helps businesses achieve their goals. Students learn about contingent workers and challenges facing human resource managers. They also learn about the HR planning process.
Key terms
- Grapevine
- An informal communication network.
- Exchange and collaboration
- Two influence tactics that managers use.
- SWOT Analysis
- A tool for identifying strengths, weaknesses, opportunities, and threats.
- Economies of scale
- Reducing average cost of production as output increases.
- Contingent workers
- Workers hired for a specific task or time period.
- Profitability ratios
- Ratios that show how well a business uses its resources.
Questions this document helps with
- What are the richest channels for business communication?
- How do managers promote collaboration in their teams?
- What is a SWOT Analysis and how is it used?
Summary written with AI from the document's text.
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