MAN 3025 Exam 1 Study Guide Solutions

MAN 3025 Exam 1 Study Guide Solutions organization - ANSWER-a group of people who work together to achieve some specific purpose management - ANSWER-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 - ANSWER-means to use resources-people, money raw materials, and the like - wisely and cost effectively effectiveness - ANSWER-means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organization's goals planning - ANSWER-setting goals and deciding how to achieve them organizing - ANSWER-arranging tasks, people, and other resources to accomplish the work leading - ANSWER-motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals controlling - ANSWER-monitoring performance, comparing it with goals, and taking corrective action as needed ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 2/14 competitive advantage - ANSWER-the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them innovation - ANSWER-finding ways to deliver new or better goods or services sustainability - ANSWER-economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs top managers - ANSWER-make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it middle managers - ANSWER-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 - ANSWER-make short-term operating decisions, directing the daily tasks of non- mangerial personnel team leader - ANSWER-a manager who is responsible for facilitating team activities toward achieving key results functional manager - ANSWER-responsible for just one organizational activity general manager - ANSWER-responsible for several organizational activities for-profit organization - ANSWER-goal is to make money, or profits, by offering products or services ©EMILLECT 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH OCTOBER 2024 Page 3/14 non-profit organization - ANSWER-their purpose is to offer services to some clients, not to make a profit technical skills - ANSWER-consist of the job-specific knowledge needed to perform well in a specialized field conceptual skills - ANSWER-consist of the ability to think analytically, to visualize an organization as a whole and understand how the parts work together human skills - ANSWER-consist of the ability to work well in cooperation with other people to get things done soft skills - ANSWER-the ability to motivate, to inspire trust, to communicate with others - are necessary for managers of all levels interpersonal roles - ANSWER-managers interact with people inside and outside their work units informational roles - ANSWER-monitor, disseminator, and spokespers