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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.
@2025 Exam Material 1
, 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.
@2025 Exam Material 2