BUSI 1301 EXAM 2 QUESTIONS
WITH COMPLETE SOLUTIONS
Service Corps of Retired Executives - Answer- More than 13,000 volunteers from
industry, trade associations, and education who counsel small business at no cost.
Management - Answer- The process used to accomplish organizational goals through
planning, organizing, leading and controlling people and other organizational resources.
Today's Managers - Answer- •Younger and more progressive.
-Growing numbers of women and minorities.
-Fewer from elite universities.
•Emphasis is on teams and team building and less on discipline and order giving.
•Managers need to be skilled communicators and team players.
Vision - Answer- More than a goal, it's a broad explanation of why the organization
exists and where it's trying to go.
Goals - Answer- The broad, long-term accomplishments an organization wishes to
attain. (Strategic)
Objectives - Answer- Specific, short-term statements detailing how to achieve the
organization's goals. (Tactical)
How can we get to out goal from here? - Answer- -Strategic planning
-Tactical planning
-Operational planning
-Contingency planning
Strategic Planning - Answer- Done by top management and determines the major goals
of the organization and the policies, procedures, strategies and resources it will need to
achieve them
Tactical Planning - Answer- The process of developing detailed, short-term statements
about what is to be done, who is to do it and how.
Operational Planning - Answer- The process of setting work standards and schedules
necessary to implement the company's tactical objectives.
,Contingency Planning - Answer- The process of preparing alternative courses of action
the firm can use if its primary plans don't work out.
RATIONAL DECISION-MAKING MODEL - Answer- 1. Define the situation.
2. Describe and collect needed information.
3. Develop alternatives.
4. Decide which alternative is best.
5. Do what is indicated.
6. Determine whether the decision was a good one and follow up. This builds
institutional knowledge.
Technical Skills - Answer- The ability to perform tasks in a specific discipline or
department.
Human Relations Skills - Answer- Skills that involve communication and motivation;
they enable managers to work through and with people.
Conceptual Skills - Answer- Skills that involve the ability to picture the organization as a
whole and the relationship among its various parts.
Saying "thank you" has led to - Answer- happier employees and greater profits for
companies.
Don't cheat your - Answer- employees. Let's Talk.
Leaders must - Answer- -Communicate a vision and rally others around that vision.
Explaining why the company exists and where it wants to go.
-Establish corporate values.
-Promote corporate ethics.
-Embrace change.
-Stress accountability and responsibility.
Transparency - Answer- The presentation of the company's facts and figures in a way
that is clear and apparent to all stakeholders.
Autocratic Leadership - Answer- Making managerial decisions without consulting others.
Today's successful leaders are less autocratic and emphasize team work.
Participative or Democratic Leadership - Answer- Managers and employees work
together to make decisions.
, Free-Rein Leadership - Answer- Managers set objectives and employees are free to do
whatever is appropriate to accomplish those objectives.
Enabling - Answer- Giving workers the education and tools they need to make
decisions.
EMPOWERMENT - Answer- •Progressive leaders give employees the authority and
responsibility to make decisions on their own without consulting a manager. Be careful
here.
•Customer needs are handled quickly.
•Manager's role becomes less of a boss and more of a coach.
WORK SMARTER - Answer- Manage output instead of hours. Productivity is the key!
Knowledge Management - Answer- Finding the right information, keeping the
information in a readily accessible place and making the information known to everyone
in the firm.
MANAGING KNOWLEDGE - Answer- Do you want to know more about your
customers?
What about competition?
What information would make the company more effective in the marketplace?
What do I still not know?
Whom should I be asking?
Many companies use sites like ________ and ___________ to proactively and
reactively communicate with their customers. - Answer- Twitter and Facebook
External Customers - Answer- Dealers, who buy products to sell to others, and ultimate
customers (or end users), who buy products for their own use.
Internal Customers - Answer- Individuals and units within the firm that receive services
from other individuals or units
STRUCTURING an ORGANIZATION - Answer- •Create a division of labor
•Set up teams or departments
•Allocate resources
•Assign tasks
•Establish procedures
•Adjust to new realities
Set up teams or departments - Answer- The process of setting up individual functional
units of the business to do specialized tasks
WITH COMPLETE SOLUTIONS
Service Corps of Retired Executives - Answer- More than 13,000 volunteers from
industry, trade associations, and education who counsel small business at no cost.
Management - Answer- The process used to accomplish organizational goals through
planning, organizing, leading and controlling people and other organizational resources.
Today's Managers - Answer- •Younger and more progressive.
-Growing numbers of women and minorities.
-Fewer from elite universities.
•Emphasis is on teams and team building and less on discipline and order giving.
•Managers need to be skilled communicators and team players.
Vision - Answer- More than a goal, it's a broad explanation of why the organization
exists and where it's trying to go.
Goals - Answer- The broad, long-term accomplishments an organization wishes to
attain. (Strategic)
Objectives - Answer- Specific, short-term statements detailing how to achieve the
organization's goals. (Tactical)
How can we get to out goal from here? - Answer- -Strategic planning
-Tactical planning
-Operational planning
-Contingency planning
Strategic Planning - Answer- Done by top management and determines the major goals
of the organization and the policies, procedures, strategies and resources it will need to
achieve them
Tactical Planning - Answer- The process of developing detailed, short-term statements
about what is to be done, who is to do it and how.
Operational Planning - Answer- The process of setting work standards and schedules
necessary to implement the company's tactical objectives.
,Contingency Planning - Answer- The process of preparing alternative courses of action
the firm can use if its primary plans don't work out.
RATIONAL DECISION-MAKING MODEL - Answer- 1. Define the situation.
2. Describe and collect needed information.
3. Develop alternatives.
4. Decide which alternative is best.
5. Do what is indicated.
6. Determine whether the decision was a good one and follow up. This builds
institutional knowledge.
Technical Skills - Answer- The ability to perform tasks in a specific discipline or
department.
Human Relations Skills - Answer- Skills that involve communication and motivation;
they enable managers to work through and with people.
Conceptual Skills - Answer- Skills that involve the ability to picture the organization as a
whole and the relationship among its various parts.
Saying "thank you" has led to - Answer- happier employees and greater profits for
companies.
Don't cheat your - Answer- employees. Let's Talk.
Leaders must - Answer- -Communicate a vision and rally others around that vision.
Explaining why the company exists and where it wants to go.
-Establish corporate values.
-Promote corporate ethics.
-Embrace change.
-Stress accountability and responsibility.
Transparency - Answer- The presentation of the company's facts and figures in a way
that is clear and apparent to all stakeholders.
Autocratic Leadership - Answer- Making managerial decisions without consulting others.
Today's successful leaders are less autocratic and emphasize team work.
Participative or Democratic Leadership - Answer- Managers and employees work
together to make decisions.
, Free-Rein Leadership - Answer- Managers set objectives and employees are free to do
whatever is appropriate to accomplish those objectives.
Enabling - Answer- Giving workers the education and tools they need to make
decisions.
EMPOWERMENT - Answer- •Progressive leaders give employees the authority and
responsibility to make decisions on their own without consulting a manager. Be careful
here.
•Customer needs are handled quickly.
•Manager's role becomes less of a boss and more of a coach.
WORK SMARTER - Answer- Manage output instead of hours. Productivity is the key!
Knowledge Management - Answer- Finding the right information, keeping the
information in a readily accessible place and making the information known to everyone
in the firm.
MANAGING KNOWLEDGE - Answer- Do you want to know more about your
customers?
What about competition?
What information would make the company more effective in the marketplace?
What do I still not know?
Whom should I be asking?
Many companies use sites like ________ and ___________ to proactively and
reactively communicate with their customers. - Answer- Twitter and Facebook
External Customers - Answer- Dealers, who buy products to sell to others, and ultimate
customers (or end users), who buy products for their own use.
Internal Customers - Answer- Individuals and units within the firm that receive services
from other individuals or units
STRUCTURING an ORGANIZATION - Answer- •Create a division of labor
•Set up teams or departments
•Allocate resources
•Assign tasks
•Establish procedures
•Adjust to new realities
Set up teams or departments - Answer- The process of setting up individual functional
units of the business to do specialized tasks
