PRINCIPLES OF MANAGEMENT 1 -
MGT 3200 - SAULEY - LSU ACTUAL
EXAM PAPER 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ 2. What are the 2 key concerns of management?.
Answer: efficiency and effectiveness
◍ Organization.
Answer: A group of people working together in a structured & coordinated
fashion to achieve a set of goals
◍ Human resources.
Answer: managerial talent and labor
◍ #1.
Answer: Which is more critical to business success? #1 Effectivenes #2
Efficiency
◍ Financial resources.
Answer: Capital investments to support ongoing and long-term operations
◍ Physical resources.
Answer: Raw materials; office and production facilities, and equipment
◍ effectiveness.
Answer: ____ is concerned with achieving desired results and acquiring
market share - THE ENDS - ____is concerned with doing the right thing at
the right time in the right way. In other words, it's concerned with goal
attainment.
◍ Information resources.
, Answer: usable data, information linkages
◍ Efficiency.
Answer: THE MEANS - is concerned with reducing waste or minimizing
resource costs since many resources are scarce (i.e., money, good people,
equipment). That is, it's concerned with getting more bang for the buck such
as increasing outputs while maintaining the same level of inputs or keeping
the same level of outputs while decreasing the level of inputs.
◍ What is management?.
Answer: A set of activities (planning and decision making, organizing,
leading, and controlling) directed at an organization's resources (human,
financial, physical, and information) with the aim of achieving
organizational goals in an efficient and effective manner
◍ 5. What is your important resource as a manager?.
Answer: People, some managers suffer from insecurity- they are afraid of
someone taking their managerial position. This most directly effects staffing
and secondarily effects leading.
◍ efficiently.
Answer: using resources wisely and in a cost-effective way
◍ Effectively.
Answer: Making the right decisions and successfully implementing them
◍ What is a manager?.
Answer: Someone whose primary responsibility is to carry out the
management process--> plans and makes decisions, organizes, leads, and
controls human, financial, physical, and information resources
◍ Management Process.
Answer: planning, organizing, leading, controlling
◍ Planning and Decision Making.
Answer: Setting the organization's goals and deciding how best to achieve
them
, ◍ Organizing.
Answer: coordinating activities and resources
◍ Leading.
Answer: Motivating and managing people
◍ Controlling.
Answer: Monitoring and evaluating activities
◍ Top managers.
Answer: Small group of executives who manage the overall organization.
They create the organization's goals, overall strategy, and operating policies.
◍ Middle managers.
Answer: Primarily responsible for implementing the policies and plans of
top managers. They also supervise and coordinate the activities of lower
level managers.
◍ First line managers.
Answer: supervise and coordinate the activities of operating employees
◍ Marketing managers.
Answer: work in areas related to getting consumers and clients to buy the
organization's products or services-new product development, promotion,
and distribution
◍ Financial managers.
Answer: deal primarily with an organization's financial
resources—accounting, cash management, and investments.
◍ Operation managers.
Answer: Involved with systems that create products and services; production
control, inventory, quality control, plant layout, site selection
◍ HR Manager.
Answer: Involved with HR activities
◍ Administrative managers.
MGT 3200 - SAULEY - LSU ACTUAL
EXAM PAPER 2026 QUESTIONS WITH
ANSWERS GRADED A+
◍ 2. What are the 2 key concerns of management?.
Answer: efficiency and effectiveness
◍ Organization.
Answer: A group of people working together in a structured & coordinated
fashion to achieve a set of goals
◍ Human resources.
Answer: managerial talent and labor
◍ #1.
Answer: Which is more critical to business success? #1 Effectivenes #2
Efficiency
◍ Financial resources.
Answer: Capital investments to support ongoing and long-term operations
◍ Physical resources.
Answer: Raw materials; office and production facilities, and equipment
◍ effectiveness.
Answer: ____ is concerned with achieving desired results and acquiring
market share - THE ENDS - ____is concerned with doing the right thing at
the right time in the right way. In other words, it's concerned with goal
attainment.
◍ Information resources.
, Answer: usable data, information linkages
◍ Efficiency.
Answer: THE MEANS - is concerned with reducing waste or minimizing
resource costs since many resources are scarce (i.e., money, good people,
equipment). That is, it's concerned with getting more bang for the buck such
as increasing outputs while maintaining the same level of inputs or keeping
the same level of outputs while decreasing the level of inputs.
◍ What is management?.
Answer: A set of activities (planning and decision making, organizing,
leading, and controlling) directed at an organization's resources (human,
financial, physical, and information) with the aim of achieving
organizational goals in an efficient and effective manner
◍ 5. What is your important resource as a manager?.
Answer: People, some managers suffer from insecurity- they are afraid of
someone taking their managerial position. This most directly effects staffing
and secondarily effects leading.
◍ efficiently.
Answer: using resources wisely and in a cost-effective way
◍ Effectively.
Answer: Making the right decisions and successfully implementing them
◍ What is a manager?.
Answer: Someone whose primary responsibility is to carry out the
management process--> plans and makes decisions, organizes, leads, and
controls human, financial, physical, and information resources
◍ Management Process.
Answer: planning, organizing, leading, controlling
◍ Planning and Decision Making.
Answer: Setting the organization's goals and deciding how best to achieve
them
, ◍ Organizing.
Answer: coordinating activities and resources
◍ Leading.
Answer: Motivating and managing people
◍ Controlling.
Answer: Monitoring and evaluating activities
◍ Top managers.
Answer: Small group of executives who manage the overall organization.
They create the organization's goals, overall strategy, and operating policies.
◍ Middle managers.
Answer: Primarily responsible for implementing the policies and plans of
top managers. They also supervise and coordinate the activities of lower
level managers.
◍ First line managers.
Answer: supervise and coordinate the activities of operating employees
◍ Marketing managers.
Answer: work in areas related to getting consumers and clients to buy the
organization's products or services-new product development, promotion,
and distribution
◍ Financial managers.
Answer: deal primarily with an organization's financial
resources—accounting, cash management, and investments.
◍ Operation managers.
Answer: Involved with systems that create products and services; production
control, inventory, quality control, plant layout, site selection
◍ HR Manager.
Answer: Involved with HR activities
◍ Administrative managers.
