Principles of Management Practice Exam Questions and Answers

Principles of Management Practice Exam Questions and Answers Management changes with: - Answer-employees, technology, etc. Management Key Concepts: - Answer- Organization - Answer-People working together and coordinating their actions to achieve specific goals. Goal - Answer-A desired future condition that the organization seeks to achieve. Management - Answer-The process of using organizational resources to achieve the organizations goals. These goals are met by what (5) things? - Answer-1. Planning 2. Organizing 3. Controlling 4. Decision Making 5. Leading Who founded these functions? - Answer-Henry Fayol Resources are organizational assets and include: - Answer--people -machinery -raw materials -information, skills -financial capital Managers are the people responsible for supervising the use of an organization's resources to ________? - Answer-Meet it's goals Organizations must provide a ____ or ____ desired by it's customer. - Answer-good or service Example: Managers of Campbell's soup manage the firm to provide quality soup products. - Answer-Achieving High Performance