Book: Contemporary Business, 18th Edition

2. Identify the four basic managerial functions. Suppose you were hired to be the manager of a local fitness center. Which managerial functions would likely be the biggest part of your job? In what ways?

3. Describe the relationship between a companys vision and its ethical standards. Why is it important for top management to put forth a clear vision and ethical standards for a company?

6. Define objectives. Outline objectives you might have for your own college education and career. How might this outline help you implement your own career strategy?

7. Identify each of the following as a programmed or nonprogrammed decision:

purchasing school supplies

buying a new smartphone

buying your favorite toothpaste or shampoo at the supermarket

selecting a college to attend

choosing where to have lunch

8. From what sources might a leader derive power? Which leadership style might work best for a manager whose company is forced to make cost-cutting decisions? Why?

9. Why is a strong corporate culture important to a companys success? How might corporate culture be linked to leadership style?

10. Which type of organization structure provides a company with the most flexibility to respond to changes in the marketplace and engage in innovation? What might be the drawbacks of this structure?