Home work in Business Concepts 1 course (Short answers)

Question Description

Question 1 & 2

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

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.

Management
Levels of management

Top
Middle
Supervisory
Technical
HR
Conceptual

Managerial skills

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

SWOT analysis for strategic planning
Decision making

Rational decision making model
Leadership (traits include: Empathy, Self-awareness, and Objectivity in dealing with others)
Influence through power (legitimate power, coercive power, expert power, charismatic power)
Leadership styles (autocratic, democratic and free-rein)

Organizational culture

Organizational chart (building blocks of the chart: Departmentalization and Specialization)
Span of management
Centralization
Decentralization

Line and Staff authority

___________________________________

All Questions can have short answers.

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