WGU C201 BUSINESS ACUMEN OBJECTIVE
ASSESSMENT
What is Management? - ANSWER Management is the process of achieving
Organizational objectives through people and other resources. The Manager's job is
to combine Human and Technical resources in the best way possible to achieve the
company's goals.
How do the jobs of top managers, middle managers, and supervisory managers
differ? - ANSWER Top managers design long term plans, set a direction for their
organization and inspire all employees to achieve the company's vision. Middle
managers focus on the specific mission and operations, products, or customers.
They develop procedures to implement the company's strategic plans. Supervisory
interact directly with non-management employees, who produce and sell the
companies goods and services. They are responsible for implementing the plans
developed by middle managers and motivating workers to accomplish daily, weekly,
and monthly goals.
What is the relationship between the managers planning and controlling functions? -
ANSWER Controlling assess the success of the planning function. Controlling also
produces feedback for the next round of planning.
What is meant by a vision for the company? - ANSWER A vision serves as a target
for the company's actions, helping direct the company towards opportunities and
differentiating it from its competitors.
Why is it important for a top executive to set high ethical standards? - ANSWER
High ethical standards often result in a stable workforce, job satisfaction, and
customer loyalty.
Outline the planning process. - ANSWER Some plans are very broad and long
range, focusing on key organizational objectives; others are more detailed and
specify how particular objectives will be achieved. From the mission statement to
objectives to specific plans, each phase must fit into comprehensive planning
framework.
Describe the purpose of tactical planning. - ANSWER The purpose of tactical
planning is to determine which short-term activities should be implemented to
accomplish the companies overall strategy.
Compare the kinds of plans made by top managers and middle managers. -
ANSWER Top managers focus on long-range, strategic plans. In contrast, middle-
level managers focus on short term tactical planning.
What is the purpose of a mission statement? - ANSWER A mission statement is a
companies written explanation of its purpose, the reason it exists, the customers it
, will serve, and how it is different from its competitors. A mission statement guides the
actions of its company, managers, and employees.
Which of a company's characteristics does a SWOT analysis compare? - ANSWER
Strength, Weaknesses, Opportunities and Threats Compared to its competitors.
How do managers use objectives? - ANSWER Objectives set guideposts by which
managers define the organizations desired performance in such areas as new
product development, sales, customer service, and employee satisfaction.
Distinguish between programmed and nonprogrammed decisions. - ANSWER
Programmed decisions are like ordering office supplies, simple and happen
frequently- they are streamlined. Non-programmed are like entering a new market or
launching a new product- they require more individual evaluation.
What are they steps in the decision-making process? - ANSWER Recognition of
problem or opportunity, development of alternatives, evaluation of alternatives,
selection and implementation of chosen alternative, and follow up to determine the
effectiveness of the decision.
How is leadership defined? - ANSWER Leadership means directing or inspiring
people to attain certain organizational goals. Effective leaders share several traits,
such as empathy, self-awareness, and objectivity. Leaders also use the power of
their job, expertise, and experience to influence people.
Identify the styles of leadership as they appear along a continuum of greater or
lesser employee participation. - ANSWER One end of the continuum Autocratic
leaders makes decisions without consulting the employees. In the middle democratic
leaders ask for suggestions and want participation. At the end is free-rein which
leaders leave most of the decisions to the employees.
What is the relationship between leadership style and corporate culture? - ANSWER
The best leadership style to adopt often depends on the organizations corporate
culture and its system of principals, beliefs, and values. Managerial philosophies,
communications, networks, and workplace environment, and practices all influence
culture.
How do managers reinforce corporate culture? - ANSWER Managers use symbols,
rituals, ceremonies, and stories to reinforce corporate culture.
What is the purpose of an organizational chart? - ANSWER A visual representation
of a company's structure that illustrates the job positions and functions.
What are the 5 major forms of departmentalization? - ANSWER Product: different
goods and services an organization offers. Geographical: Units by regions.
Customer: Units by different types of customers. Functional: Units by business
activities like Marketing or Finance, etc. Process: Unit by steps or Work processes it
takes to complete production or provide a service.
ASSESSMENT
What is Management? - ANSWER Management is the process of achieving
Organizational objectives through people and other resources. The Manager's job is
to combine Human and Technical resources in the best way possible to achieve the
company's goals.
How do the jobs of top managers, middle managers, and supervisory managers
differ? - ANSWER Top managers design long term plans, set a direction for their
organization and inspire all employees to achieve the company's vision. Middle
managers focus on the specific mission and operations, products, or customers.
They develop procedures to implement the company's strategic plans. Supervisory
interact directly with non-management employees, who produce and sell the
companies goods and services. They are responsible for implementing the plans
developed by middle managers and motivating workers to accomplish daily, weekly,
and monthly goals.
What is the relationship between the managers planning and controlling functions? -
ANSWER Controlling assess the success of the planning function. Controlling also
produces feedback for the next round of planning.
What is meant by a vision for the company? - ANSWER A vision serves as a target
for the company's actions, helping direct the company towards opportunities and
differentiating it from its competitors.
Why is it important for a top executive to set high ethical standards? - ANSWER
High ethical standards often result in a stable workforce, job satisfaction, and
customer loyalty.
Outline the planning process. - ANSWER Some plans are very broad and long
range, focusing on key organizational objectives; others are more detailed and
specify how particular objectives will be achieved. From the mission statement to
objectives to specific plans, each phase must fit into comprehensive planning
framework.
Describe the purpose of tactical planning. - ANSWER The purpose of tactical
planning is to determine which short-term activities should be implemented to
accomplish the companies overall strategy.
Compare the kinds of plans made by top managers and middle managers. -
ANSWER Top managers focus on long-range, strategic plans. In contrast, middle-
level managers focus on short term tactical planning.
What is the purpose of a mission statement? - ANSWER A mission statement is a
companies written explanation of its purpose, the reason it exists, the customers it
, will serve, and how it is different from its competitors. A mission statement guides the
actions of its company, managers, and employees.
Which of a company's characteristics does a SWOT analysis compare? - ANSWER
Strength, Weaknesses, Opportunities and Threats Compared to its competitors.
How do managers use objectives? - ANSWER Objectives set guideposts by which
managers define the organizations desired performance in such areas as new
product development, sales, customer service, and employee satisfaction.
Distinguish between programmed and nonprogrammed decisions. - ANSWER
Programmed decisions are like ordering office supplies, simple and happen
frequently- they are streamlined. Non-programmed are like entering a new market or
launching a new product- they require more individual evaluation.
What are they steps in the decision-making process? - ANSWER Recognition of
problem or opportunity, development of alternatives, evaluation of alternatives,
selection and implementation of chosen alternative, and follow up to determine the
effectiveness of the decision.
How is leadership defined? - ANSWER Leadership means directing or inspiring
people to attain certain organizational goals. Effective leaders share several traits,
such as empathy, self-awareness, and objectivity. Leaders also use the power of
their job, expertise, and experience to influence people.
Identify the styles of leadership as they appear along a continuum of greater or
lesser employee participation. - ANSWER One end of the continuum Autocratic
leaders makes decisions without consulting the employees. In the middle democratic
leaders ask for suggestions and want participation. At the end is free-rein which
leaders leave most of the decisions to the employees.
What is the relationship between leadership style and corporate culture? - ANSWER
The best leadership style to adopt often depends on the organizations corporate
culture and its system of principals, beliefs, and values. Managerial philosophies,
communications, networks, and workplace environment, and practices all influence
culture.
How do managers reinforce corporate culture? - ANSWER Managers use symbols,
rituals, ceremonies, and stories to reinforce corporate culture.
What is the purpose of an organizational chart? - ANSWER A visual representation
of a company's structure that illustrates the job positions and functions.
What are the 5 major forms of departmentalization? - ANSWER Product: different
goods and services an organization offers. Geographical: Units by regions.
Customer: Units by different types of customers. Functional: Units by business
activities like Marketing or Finance, etc. Process: Unit by steps or Work processes it
takes to complete production or provide a service.
