home work in business concepts 1 course short answers 1

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Question 1 & 2

1. In 80 words or more, explain what the founders of AirBnB have done to attract customers.

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2. What do you think the owners (the entrepreneurs) should do in order to maintain the viability of their business.

Question 3

Define 7 of the following concepts. explain each one of them through an example.

  1. Management
  2. Levels of management
  • Top
  • Middle
  • Supervisory
  • Technical
  • HR
  • Conceptual
  1. Managerial skills
  1. Managerial functions
  • Planning (strategic, tactical, operational and contingency)
  • Organizing
  • Controlling (Setting performance standards; Monitor actual performance; Compare actual performance with the standards; Making corrections if needed)
  • Directing
  • programmed
  • non-programmed)
  • Managers use symbols, rituals, ceremonies, and stories to reinforce corporate culture
  1. SWOT analysis for strategic planning
  2. Decision making
  1. Rational decision making model
  2. Leadership (traits include: Empathy, Self-awareness, and Objectivity in dealing with others)
  3. Influence through power (legitimate power, coercive power, expert power, charismatic power)
  4. Leadership styles (autocratic, democratic and free-rein)
  1. Organizational culture
  1. Organizational chart (building blocks of the chart: Departmentalization and Specialization)
  2. Span of management
  3. Centralization
  4. Decentralization

Line and Staff authority

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All Questions can have short answers.

 

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