pt 2

Question 1

10 effective leadership qualities?

Answer 1

1. honesty
2. delegate
3. communication
4. confidence
5. commitment
6. positive attitude
7. creativity
8. intuition
9. inspire
10. approach

Question 2

autocratic meaning?

Answer 2

do it or else / my way or the highway

Question 3

democratic meaning?

Answer 3

everybody contributes / collaborate

Question 4

Laissez- Faire meaning?

Answer 4

Hands off / Trust employees to do the right thing

Question 5

Brainstorming meaning?

Answer 5

A group discussion technique used to generate as many ideas as possible for solving a problem

Question 6

What is a SMART goal stand for?

Answer 6

• Specific
• Measurable
• Attainable
• Realistic
• Time- Bound

Question 7

SWOT?

Answer 7

Strength, weaknesses, opportunities, threats

Question 8

What is a motivating employee?

Answer 8

1. Make More Money mindset

2. Takes genuine interest in future path of an employee’s career

Question 9

Goals?

Answer 9

Long term; Mission and vision statement

Question 10

Objectives?

Answer 10

Short term; standards

Question 11

MBO?

Answer 11

Management by objective

Question 12

MBE?

Answer 12

Management by exception, variance from standard

Question 13

MBWA?

Answer 13

Management by walking around

Question 14

4 operations management?

Answer 14

1. TQM - TOTAL QUALITY MANAGEMENT
2. Lean- Doing more with less
3. JIT- Just in time
4. Logistics

Question 15

How does a balance sheet work?

Answer 15

Assets = Liabilities + Owner’s Equity

Net worth = Assets - Liabilities
5 mm - 2.5 mm Net worth or book value