MAN 3025 exam 1 questions and answers with solutions 2025

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 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