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Understanding Business: Ch 7-9

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Understanding Business, Tenth Edition Chapter 7- Management and Leadership 1. What does management look like today? Management differs today than it did in the past. In the past, managers were considered “bosses” and their job mostly consisted of giving employees orders, monitoring performance and reprimanding unproductive behavior and misconduct. Many managers still manage employees in such fashion; however, some managers now tend to be more proactive and have changed managerial functions for the betterment of company operations and performance to accomplish organizational goals. Effective management for company success now entails guiding, training, supporting, motivating and coaching employees verses just demanding what …show more content…

7. What is organizational culture? Organizational or corporate culture is the widely shared values within an organization that foster unity and cooperation to achieve common goals. The key to a productive culture is mutual trust. Organizations receive trust by giving it. Top companies stress high moral and ethical values such as honesty, reliability, fairness, environmental protection and social involvement. Chapter 9- Production and Operations Management 8. What is the current state of manufacturing in the United States? Overall activity in our nation’s manufacturing sector has declined and in recent years to the lowest level in more than two decades. Thus, the declines resulted in increased unemployment rates among the manufacturing industry in the U.S. One cause of the joblessness increase is because companies employ worker’s that are so productive that fewer employees are required to produce more goods. Ultimately, the U.S. economy is no longer manufacturing-based; rather, nearly 85 percent of U.S. jobs now come from the service sector. 9. What is lean manufacturing? Lean manufacturing is the production of goods using less of everything than in mass production: less human effort, less manufacturing space, less investment tools and less engineering time to develop a new product. A company becomes lean by continuously increasing its capacity to produce high-quality goods while simultaneously decreasing

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