Tag Archives: Business 101

How to Pass study.com Business 101: Principles of Management Final Proctored Exam

Hey there, future business moguls! Greetings, As you plan on facing the Principles of Management course in Study.com, let me present you with your one-stop study companion! Whether you are fresh to management with no prior experience at all or you have been away from the managerial line for some time, this is the best course to help you remember how management really functions.  From this course, one is able to gain an understanding of what is involved in Management and the various theories and practices that are used in organizations apart from other areas such as human resources, financial management, etc. By the end of this course, you will be able to work while preparing for exams and have a general understanding of the management concepts that may be helpful in your career. So, buckle up, sharpen your pencils, and let us start this exciting journey in the ocean of business management!   — What to Expect from Business 101 Class 📖 Okay, here is what is awaiting you in the “Business 101: Principles of Management” class on study.com. This course is aimed at explaining and enabling you with the principles and techniques of management for you to be able to solve trade tests as well as business-related challenges. Schools of Management Theory Key Concepts: Neoclassical Theory, Behavioral Management Theory, Hawthorne Effect, Maslow’s Hierarchy of Needs, McGregor’s Theory X & Theory Y. Why It Matters: Understanding these theories will help you grasp how different management styles can impact employee motivation and organizational success. Expect questions on how these theories apply to various business scenarios. Organizational Change and Management Key Concepts: Concepts such as the internal and external change factors of the change process, steps involved in the planned change process, Lewin’s change theory model, and Kotter’s eight-step change model. Why It Matters: Business is dynamic in nature and this means that different changes are bound to occur. This knowledge of how to manage change is a positive factor that can shape the fortunes of an entity positively. Be ready to speak about various change models and how they can be used. Work Teams Key Concepts: Types of Teams, Group Development Stages, Group Cohesion, Team Conflict. Why It Matters: Teams are the backbone of any organization. Understanding team dynamics and how to manage conflicts will be crucial. Look out for questions on team-building strategies and conflict resolution. Leadership Theory and Organizational Leadership Key Concepts: Fiedler’s Contingency Theory, Situational Leadership, Path-Goal Theory, and Leader-Member Exchange Theory. Why It Matters: Leadership styles can significantly influence organizational performance. Expect to analyze different leadership scenarios and their outcomes. Communication in the Workplace Key Concepts: Communication Process, Types of Communication, Organizational Communication, Conflict Resolution. Why It Matters: Effective communication is key to successful management. You’ll need to demonstrate an understanding of various communication styles and their impact on workplace dynamics. Motivation in the Workplace Key Concepts: Needs-Based and Behavior-Based Theories, Pygmalion Effect, Herzberg’s Two-Factor Theory, Equity Theory. Why It Matters: Motivated employees are productive employees. Be ready to explore different motivational strategies and their effectiveness. Financial Controls in Organizations Key Concepts: Financial Statements, Budget Controls, Financial Planning. Why It Matters: Financial acumen is critical for any manager. You’ll be tested on your ability to analyze financial statements and make budgetary decisions. Human Resources Key Concepts: Hiring and Staffing, Job Orientation, Training Needs, Employee Rights. Why It Matters: Human resources management ensures that the right people are in the right roles. Expect to discuss HR processes and legal considerations. The management strategy and the decision-making process Key Concepts: SMP, DM Process, Quantitative Decision-Making Tools.. Why It Matters: This implies that the main activities in management revolve around strategic planning and decision-making. It means that you will have to use the above-specified ideas in hypothetical business scenarios. Production and Quality Assurance Key Concepts: Organizational output, total quality, management, ISO 9000 accreditation. Why It Matters: It is quality and efficiency which determines the profitability of the organization. Expectations should be made in terms of reviewing the quality management methods and their application. International Management and Contemporary Issues Key Concepts: Managing International Companies, Cultural Dimensions, and Business Ethics. Why It Matters: Global business requires an understanding of diverse cultural, legal, and ethical issues. You’ll explore how these factors influence international management. By the end of this course, you’ll be well-versed in these key areas and ready to ace your exams. Remember, each of these topics is not just theoretical; they have practical applications that can be crucial in real-world business scenarios. Click here for exam support Week-by-Week Study Plan to Ace Business 101 Exam 📝 Below is a detailed outline study plan in a structured weekly format you can use to pass the Business 101: Principles of Management course on study.com. This approach makes it easy to understand that there is enough ground to cover as well as gives enough time for review in case you need more time before the exam is due. Week 1: Introduction and Schools of Management Theory Objectives: Understand various management theories and their applications. Tasks: Day 1-2: Read and take notes on the Neoclassical Theory and Behavioral Management Theory. Day 3-4: Study Maslow’s Hierarchy of Needs and McGregor’s Theory X & Theory Y. Day 5-6: Watch YouTube videos on the Hawthorne Effect (e.g., Hawthorne Effect Explained). Day 7: Review notes and complete related quizzes on study.com. Resources: Quizlet flashcards on Management Theories (Quizlet). Week 2: Organizational Change and Management Objectives: Learn how to manage change within organizations. Tasks: Day 1-2: Study internal and external factors driving organizational change. Day 3-4: Read about Lewin’s Change Theory and Kotter’s 8-Step Change Model. Day 5-6: Watch YouTube videos on change management models (e.g., Lewin’s Change Management Model). Day 7: Review notes and complete quizzes. Resources: Additional reading on change management from reliable sources like Harvard Business Review. Week 3: Work Teams and Leadership Theory Objectives: Understand team dynamics and various leadership theories. Tasks: Day 1-2: Study types of work teams and stages of group development. Day