MGT 330 Exam 1 Chapters 1-4
Questions & Answers16
Planning - ANSWERS-You set goals and decide how to achieve them
Organizing - ANSWERS-You arrange tasks, people, and other resources to accomplish the work
Leading - ANSWERS-You motivate, direct and otherwise influence people to work hard to
achieve the organizations goal
Controlling - ANSWERS-You monitor performance, comparing it with goals, and take corrective
actions as needed
Efficiency - ANSWERS-Use resources, people, money, raw materials wisely and cost effectively
Effectiveness - ANSWERS-To achieve results, to make the right decisions, and to successfully
carry them out do that they can achieve the organizations goal.
Challenges managers face today - ANSWERS-Diversity of employees
Changing information technology
Sustainabilty
Sustainability - ANSWERS-Is defined as economic development that meets the needs of the
present without compromising the ability of future generation to meet their own needs
Entrepreneur - ANSWERS-Is the process of taking risks to try to create enterprise
,First line manager - ANSWERS-Make short term operating decisions, directing the daily tasks of
nonmanagerial personnel
Middle manager - ANSWERS-Implement the policies and plans of the top managers about them
and supervise and coordinate the activities of the first line managers below them
Top managers - ANSWERS-Make long term decisions about the overall direction of the
organization and establish the objectives, policies, and strategies for it
Functional managers - ANSWERS-Is responsible for just one organizational activities
General managers - ANSWERS-Is responsible for several organizational activities
Centralized decision making - ANSWERS-Made from the top manager
Organization - ANSWERS-A system of consciously coordinated activities of two or more people
Multiplier effect - ANSWERS-Your influence on the organization is multiplied far beyond the
results that be achieved by just one person acting alone.
Internet e commerce market - ANSWERS-Transaction fee
advertising
intermediary
subscriptions
Intermediary - ANSWERS-Brings buyers and sellers together and charging a commission for each
sale
, Management - ANSWERS-The pursuit of organizational goal efficiently and effectively by
integrating the work of people through planning, organizing, leading, and controlling the
organizations resources
Manager - ANSWERS-Is a person who plans, organizes, directs, and controls the allocation of
human, material, financial, and information resources in pursuit of organizational goals
Management Value - ANSWERS-The multiplier effect
Levels of Management - ANSWERS-Top managers
Middle managers
First line managers
Managing teams
Areas of Management - ANSWERS-Functional managers
General managers
Project managers
Principles functions of management - ANSWERS-Planning
Organizing
Leading
Controlling
Competitive advantages - ANSWERS-Being responsive to customers
innovation
quality
Questions & Answers16
Planning - ANSWERS-You set goals and decide how to achieve them
Organizing - ANSWERS-You arrange tasks, people, and other resources to accomplish the work
Leading - ANSWERS-You motivate, direct and otherwise influence people to work hard to
achieve the organizations goal
Controlling - ANSWERS-You monitor performance, comparing it with goals, and take corrective
actions as needed
Efficiency - ANSWERS-Use resources, people, money, raw materials wisely and cost effectively
Effectiveness - ANSWERS-To achieve results, to make the right decisions, and to successfully
carry them out do that they can achieve the organizations goal.
Challenges managers face today - ANSWERS-Diversity of employees
Changing information technology
Sustainabilty
Sustainability - ANSWERS-Is defined as economic development that meets the needs of the
present without compromising the ability of future generation to meet their own needs
Entrepreneur - ANSWERS-Is the process of taking risks to try to create enterprise
,First line manager - ANSWERS-Make short term operating decisions, directing the daily tasks of
nonmanagerial personnel
Middle manager - ANSWERS-Implement the policies and plans of the top managers about them
and supervise and coordinate the activities of the first line managers below them
Top managers - ANSWERS-Make long term decisions about the overall direction of the
organization and establish the objectives, policies, and strategies for it
Functional managers - ANSWERS-Is responsible for just one organizational activities
General managers - ANSWERS-Is responsible for several organizational activities
Centralized decision making - ANSWERS-Made from the top manager
Organization - ANSWERS-A system of consciously coordinated activities of two or more people
Multiplier effect - ANSWERS-Your influence on the organization is multiplied far beyond the
results that be achieved by just one person acting alone.
Internet e commerce market - ANSWERS-Transaction fee
advertising
intermediary
subscriptions
Intermediary - ANSWERS-Brings buyers and sellers together and charging a commission for each
sale
, Management - ANSWERS-The pursuit of organizational goal efficiently and effectively by
integrating the work of people through planning, organizing, leading, and controlling the
organizations resources
Manager - ANSWERS-Is a person who plans, organizes, directs, and controls the allocation of
human, material, financial, and information resources in pursuit of organizational goals
Management Value - ANSWERS-The multiplier effect
Levels of Management - ANSWERS-Top managers
Middle managers
First line managers
Managing teams
Areas of Management - ANSWERS-Functional managers
General managers
Project managers
Principles functions of management - ANSWERS-Planning
Organizing
Leading
Controlling
Competitive advantages - ANSWERS-Being responsive to customers
innovation
quality
