WGU Business Acumen C201- ch7 Questions and
Verified Answers
Management Correct Answer: The achievement of organizational objectives through the use of people
and other resources. The skills and principles of management apply in both profit and not-for-profit
organizations.
The management hierarchy Correct Answer: The management hierarchy has three levels: top, middle,
and supervisory management. Top management sets the long-term direction, vision, and values of the
organization. Middle managers focus on specific operations, products, or customer groups and implement
strategic plans. Supervisory managers are responsible for assigning non-managerial employees to specific
jobs and evaluating performance.
Skills needed for managerial success Correct Answer: Successful managers should possess technical,
human, and conceptual skills. Technical skills include the ability to understand and use the knowledge
and tools of a specific discipline or activity. Human skills are the interpersonal skills managers need to
motivate and lead employees to accomplish identified objectives. Conceptual skills, needed especially by
top managers, involve the ability to see the big picture by acquiring, analyzing, and interpreting
information.
Managerial functions Correct Answer: Managers in any organization must perform the essential
functions of planning, organizing, directing, and controlling. Planning is the process of anticipating
future events and conditions and determining courses of action for achieving organizational objectives.
Organizing is the process of blending human and material resources through a formal structure of tasks
and authority. Guiding and motivating employees to accomplish organizational objectives is called
directing. Controlling is the function of evaluating an organization's performance against its objective.
Vision Correct Answer: A perception of marketplace needs and the methods by which an organization
can satisfy them. It serves as the target for a firm's actions, helping direct the company toward
opportunities and differentiating it from competitors.
Ethical standards Correct Answer: These values are set by top managers, who must focus on the
organization's long-term success, not merely short-term profits or personal gain.
Types of planning Correct Answer: The four types of plans used by contemporary organizations are
strategic, tactical, operational, and contingency plans. Strategic plans set primary objectives and
strategies for how to allocate resources to achieve them. Tactical plans involve implementing the
activities specified by the strategic plan. Operation plans create detailed standards that guide
implementation of tactical plans. Contingency planning allows a firm to quickly resume operations and
communications with the public after a crisis.
Verified Answers
Management Correct Answer: The achievement of organizational objectives through the use of people
and other resources. The skills and principles of management apply in both profit and not-for-profit
organizations.
The management hierarchy Correct Answer: The management hierarchy has three levels: top, middle,
and supervisory management. Top management sets the long-term direction, vision, and values of the
organization. Middle managers focus on specific operations, products, or customer groups and implement
strategic plans. Supervisory managers are responsible for assigning non-managerial employees to specific
jobs and evaluating performance.
Skills needed for managerial success Correct Answer: Successful managers should possess technical,
human, and conceptual skills. Technical skills include the ability to understand and use the knowledge
and tools of a specific discipline or activity. Human skills are the interpersonal skills managers need to
motivate and lead employees to accomplish identified objectives. Conceptual skills, needed especially by
top managers, involve the ability to see the big picture by acquiring, analyzing, and interpreting
information.
Managerial functions Correct Answer: Managers in any organization must perform the essential
functions of planning, organizing, directing, and controlling. Planning is the process of anticipating
future events and conditions and determining courses of action for achieving organizational objectives.
Organizing is the process of blending human and material resources through a formal structure of tasks
and authority. Guiding and motivating employees to accomplish organizational objectives is called
directing. Controlling is the function of evaluating an organization's performance against its objective.
Vision Correct Answer: A perception of marketplace needs and the methods by which an organization
can satisfy them. It serves as the target for a firm's actions, helping direct the company toward
opportunities and differentiating it from competitors.
Ethical standards Correct Answer: These values are set by top managers, who must focus on the
organization's long-term success, not merely short-term profits or personal gain.
Types of planning Correct Answer: The four types of plans used by contemporary organizations are
strategic, tactical, operational, and contingency plans. Strategic plans set primary objectives and
strategies for how to allocate resources to achieve them. Tactical plans involve implementing the
activities specified by the strategic plan. Operation plans create detailed standards that guide
implementation of tactical plans. Contingency planning allows a firm to quickly resume operations and
communications with the public after a crisis.
