Exam 1 Study Guide

Here is a helpful study guide for Exam1.  It is very helpful, BUT it is NOT exhaustive.

Exam 1 Study Guide Exam MGT 1104

Fall 2021

The test covers chapters from 1-5 and 18, so here is a guide that should facilitate your studying. While studying, try to think of examples for each term, since that’s how they show up on the test. It is important to note that you should have read ALL of the textbook chapters, attended all of the classes and engaged in class discussions --- all of that material can be included on the Exam.

Chapter 1:

Types of teams: manager-led, self-managing, virtual, cross functional

Importance of teams

Understand what makes team successful and why do teams struggle

Chapter 2:

Macro environment and PESTEL

Functional areas of a business: accounting, marketing, finance, management, operations

Stakeholders (different types/categories)

Chapter 3:

Capitalism/socialism

Competition: perfect, oligopoly, monopolistic, supply and demand

Economic indicators (lagging/leading): GDP, unemployment, CPI

Fiscal and monetary policy

Chapter 4:

Corporate Social Responsibility

Ethical decisions/ethical dilemmas/conflict of interest

Whistleblower

Insider trading, SEC

Chapter 5:

Balance of trade: deficit/surplus/balance of payments

International business models/entry strategies: importing/exporting, franchising, licensing, joint venture, foreign direct investment, outsourcing/contract manufacturing

Royalties and when they arise

Trade protectionism: tariffs, embargoes, quotas, dumping

Chapter 18:

Compound Interest

FICO score/credit rating

Time value of money