MGM101 EXAM STUDY GUIDE 2026
Manager - Answers -Makes decisions about scarce resource allocation towards
achieving strategic objectives
(4) Functions of Management - Answers -(1) Planning & Strategizing
(2) Organizing
(3) Leading & Developing
(4) Controlling
(4) Types of Managers - Answers -Frontline; Middle; General; Functional
Frontline Manager - Answers -Manage other employees; Promoted employees; Directly
managing
Middle Manager - Answers -Divisional; Needs management skills
General Manager - Answers -All departments, entire organization; ie. CEO
Management - Answers -Getting things done through people
Planning - Answers -Choose goals > Identify actions > Allocate > Measure success >
Revise
Strategizing - Answers -What to do to achieve goals; Involves being aware of
competition, changes in technology/government, alternate strategies, choosing action
Organizing - Answers -Deciding who, where, how
Controlling - Answers -Monitoring performance against goals; Intervening
Leading - Answers -Motivating, influencing, directing others to pursue goals
Human Capital - Answers -Knowledge & skills of individuals
Functional Managers - Answers -Particular function
(4) Levels of Management - Answers -(1) Corporate
(2) Business
(3) Functional
(4) Frontline
Corporate Level General Managers - Answers -CEO, CFO, COO, CTO report to Board
of Directors
,Board of Directors - Answers -Measure process & protect shareholders
Business Level General Managers - Answers -In organizations with only one business;
Same as Corporate
(3) Managerial Roles - Answers -(1) Interpersonal Roles
(2) Informational Roles
(3) Decisional Roles
Interpersonal Roles - Answers -Liaison; Leader; Figurehead
Informational Roles - Answers -Disseminator/Informer; Monitor; Spokesperson
Decisional Roles - Answers -Negotiator; Resource Allocation; Disturbance Handler;
Entrepreneur
(3) Competencies - Answers -(1) Conceptual Skills
(2) Technical Skills
(3) Human Skills
Conceptual Skills - Answers -Ability to see the big picture; Creative
Technical Skills - Answers -Mastery of equipment/technical procedure
Human Skills - Answers -Ability to communicate, persuade, manage conflict, motivate,
coach, negotiate, lead
(2) Values - Answers -Beliefs that guide preferences for outcomes of decisions
(1) Enacted Values
(2) Espoused Values
Enacted Values - Answers -Values that actually guide behaviours
Espoused Values - Answers -What people SAY are important to them
Shared Values - Answers -Values held in common
Ethical Values - Answers -Society expectations
(4) Managerial Motivation - Answers -(1) Desire to compete
(2) Desire to exercise power
(3) Desire to be different
(4) Desire to take action
Personalized Power Orientation - Answers -Personal gain; Thrill of bossing others
, Socialized Power Orientation - Answers -Power to achieve social/organizational
objectives
Stakeholder - Answers -Has a stake in operations and how it's run
Outer Circle Stakeholders - Answers -General Public
Government
Local Communities
Inner Circle Stakeholders - Answers -Direct interaction:
Employees
Customers
Creditors
Shareholders
Suppliers
Distributors
Commercial Endeavours - Answers -Markets; Services offered; Needs to be met in the
marketplace
Employee Interaction - Answers -Skills that employees bring to the marketplace
Organizational efficiency and structure - Answers -Infrastructure
Business - Answers -Transformation of resources into goods & services to make a
profit
Business Models - Answers -Structure to generate revenue & profit
Company-centric - Answers -How a business works
Market-centric - Answers -How a business works in a market
Activities - Answers -To deliver product & service to market
ie. marketing, sales, customer service
(4) Resources - Answers -(1) Assets
(2) Labour
(3) Capital
(4) Managerial Acumen
Assets - Answers -Infrastructure, resource base
Labour - Answers -Human resources
Manager - Answers -Makes decisions about scarce resource allocation towards
achieving strategic objectives
(4) Functions of Management - Answers -(1) Planning & Strategizing
(2) Organizing
(3) Leading & Developing
(4) Controlling
(4) Types of Managers - Answers -Frontline; Middle; General; Functional
Frontline Manager - Answers -Manage other employees; Promoted employees; Directly
managing
Middle Manager - Answers -Divisional; Needs management skills
General Manager - Answers -All departments, entire organization; ie. CEO
Management - Answers -Getting things done through people
Planning - Answers -Choose goals > Identify actions > Allocate > Measure success >
Revise
Strategizing - Answers -What to do to achieve goals; Involves being aware of
competition, changes in technology/government, alternate strategies, choosing action
Organizing - Answers -Deciding who, where, how
Controlling - Answers -Monitoring performance against goals; Intervening
Leading - Answers -Motivating, influencing, directing others to pursue goals
Human Capital - Answers -Knowledge & skills of individuals
Functional Managers - Answers -Particular function
(4) Levels of Management - Answers -(1) Corporate
(2) Business
(3) Functional
(4) Frontline
Corporate Level General Managers - Answers -CEO, CFO, COO, CTO report to Board
of Directors
,Board of Directors - Answers -Measure process & protect shareholders
Business Level General Managers - Answers -In organizations with only one business;
Same as Corporate
(3) Managerial Roles - Answers -(1) Interpersonal Roles
(2) Informational Roles
(3) Decisional Roles
Interpersonal Roles - Answers -Liaison; Leader; Figurehead
Informational Roles - Answers -Disseminator/Informer; Monitor; Spokesperson
Decisional Roles - Answers -Negotiator; Resource Allocation; Disturbance Handler;
Entrepreneur
(3) Competencies - Answers -(1) Conceptual Skills
(2) Technical Skills
(3) Human Skills
Conceptual Skills - Answers -Ability to see the big picture; Creative
Technical Skills - Answers -Mastery of equipment/technical procedure
Human Skills - Answers -Ability to communicate, persuade, manage conflict, motivate,
coach, negotiate, lead
(2) Values - Answers -Beliefs that guide preferences for outcomes of decisions
(1) Enacted Values
(2) Espoused Values
Enacted Values - Answers -Values that actually guide behaviours
Espoused Values - Answers -What people SAY are important to them
Shared Values - Answers -Values held in common
Ethical Values - Answers -Society expectations
(4) Managerial Motivation - Answers -(1) Desire to compete
(2) Desire to exercise power
(3) Desire to be different
(4) Desire to take action
Personalized Power Orientation - Answers -Personal gain; Thrill of bossing others
, Socialized Power Orientation - Answers -Power to achieve social/organizational
objectives
Stakeholder - Answers -Has a stake in operations and how it's run
Outer Circle Stakeholders - Answers -General Public
Government
Local Communities
Inner Circle Stakeholders - Answers -Direct interaction:
Employees
Customers
Creditors
Shareholders
Suppliers
Distributors
Commercial Endeavours - Answers -Markets; Services offered; Needs to be met in the
marketplace
Employee Interaction - Answers -Skills that employees bring to the marketplace
Organizational efficiency and structure - Answers -Infrastructure
Business - Answers -Transformation of resources into goods & services to make a
profit
Business Models - Answers -Structure to generate revenue & profit
Company-centric - Answers -How a business works
Market-centric - Answers -How a business works in a market
Activities - Answers -To deliver product & service to market
ie. marketing, sales, customer service
(4) Resources - Answers -(1) Assets
(2) Labour
(3) Capital
(4) Managerial Acumen
Assets - Answers -Infrastructure, resource base
Labour - Answers -Human resources
