MGT 301 EXAM 1 (CH 1-4) ACCURATE STUDY GUIDE
Organization - Answers - A group of people who work together to achieve some specific
purpose
Management - Answers - The pursuit of organizational Goals efficiently and effectively
by integrating the work of people through planning, organizing, leading, and controlling
the organization's resources.
Efficiency - Answers - Means of attaining the organizations goals, being efficient is
using your resources such as people, money, raw materials, and cost effectively
Effectiveness - Answers - Achieving organizational goals
Four Management Functions - Answers - 1. Planning
2. Organizing
3. Leading
4. Controlling
Planning - Answers - set goals and decide how to achieve them
Organizing - Answers - arranging tasks, people, and other resources to accomplish the
work
Controlling - Answers - monitoring progress toward goal achievement and taking
corrective action when needed
Leading - Answers - motivating, directing, and otherwise influencing people to work hard
to achieve the organization's goals
7 challenges to being an exceptional manager - Answers - 1. Managing for competitive
advantage
2. Managing for diversity
3. Managing for globalization
4. Managing for information technology
5. Managing for ethical standards
6. Managing for sustainability
7. Managing for your own happiness and life goals
Top Managers - Answers - make long-term decisions about the overall direction of the
organization and establish the objectives, policies, and strategies for it
, Middle Managers - Answers - implement the policies and plans of the top managers
above them and supervise and coordinate the activities of the first-line managers below
them
First-line managers - Answers - make short-term operating decisions, directing the daily
tasks of non managerial personnel
Functional manager - Answers - responsible for just one organizational activity
General Manager - Answers - responsible for several organizational activities
Skills Exceptional Managers Need - Answers - -Technical skills
-Conceptual skills
-Human skills
-Soft skills
Three Types of Managerial Roles - Answers - 1. Interpersonal
2. Informational
3. Decisional
Entrepreneurship - Answers - the process of starting, organizing, managing, and
assuming the responsibility for a business
Entrepreneur - Answers - A person who organizes, manages, and takes on the risks of
a business.
Intrapreneur - Answers - someone who works inside an existing organization who sees
an opportunity for a product or service and mobilizes the organization's resources to try
to realize it
Scientific Management - Answers - Emphasizes the scientific study of work methods to
improve the productivity of individual workers
Four points of scientific management - Answers - 1. Evaluate a task by scientifically
studying each part of the task
2. Carefully select workers with the right abilities for the task
3. Give workers the training and incentives to do the task with proper work methods
4. Use scientific principles to plan the work methods and ease the way for workers to do
their jobs
Administrative management - Answers - concerned with managing the total organization
Five Positive Bureaucratic Features - Answers - 1. A well-defined hierarchy of authority
2. Formal rules and procedures
3. A clear division of labor
4. Impersonality
Organization - Answers - A group of people who work together to achieve some specific
purpose
Management - Answers - The pursuit of organizational Goals efficiently and effectively
by integrating the work of people through planning, organizing, leading, and controlling
the organization's resources.
Efficiency - Answers - Means of attaining the organizations goals, being efficient is
using your resources such as people, money, raw materials, and cost effectively
Effectiveness - Answers - Achieving organizational goals
Four Management Functions - Answers - 1. Planning
2. Organizing
3. Leading
4. Controlling
Planning - Answers - set goals and decide how to achieve them
Organizing - Answers - arranging tasks, people, and other resources to accomplish the
work
Controlling - Answers - monitoring progress toward goal achievement and taking
corrective action when needed
Leading - Answers - motivating, directing, and otherwise influencing people to work hard
to achieve the organization's goals
7 challenges to being an exceptional manager - Answers - 1. Managing for competitive
advantage
2. Managing for diversity
3. Managing for globalization
4. Managing for information technology
5. Managing for ethical standards
6. Managing for sustainability
7. Managing for your own happiness and life goals
Top Managers - Answers - make long-term decisions about the overall direction of the
organization and establish the objectives, policies, and strategies for it
, Middle Managers - Answers - implement the policies and plans of the top managers
above them and supervise and coordinate the activities of the first-line managers below
them
First-line managers - Answers - make short-term operating decisions, directing the daily
tasks of non managerial personnel
Functional manager - Answers - responsible for just one organizational activity
General Manager - Answers - responsible for several organizational activities
Skills Exceptional Managers Need - Answers - -Technical skills
-Conceptual skills
-Human skills
-Soft skills
Three Types of Managerial Roles - Answers - 1. Interpersonal
2. Informational
3. Decisional
Entrepreneurship - Answers - the process of starting, organizing, managing, and
assuming the responsibility for a business
Entrepreneur - Answers - A person who organizes, manages, and takes on the risks of
a business.
Intrapreneur - Answers - someone who works inside an existing organization who sees
an opportunity for a product or service and mobilizes the organization's resources to try
to realize it
Scientific Management - Answers - Emphasizes the scientific study of work methods to
improve the productivity of individual workers
Four points of scientific management - Answers - 1. Evaluate a task by scientifically
studying each part of the task
2. Carefully select workers with the right abilities for the task
3. Give workers the training and incentives to do the task with proper work methods
4. Use scientific principles to plan the work methods and ease the way for workers to do
their jobs
Administrative management - Answers - concerned with managing the total organization
Five Positive Bureaucratic Features - Answers - 1. A well-defined hierarchy of authority
2. Formal rules and procedures
3. A clear division of labor
4. Impersonality
