BUS 100 Exam 2 – Introduction to Business – 2026 – Study and Practice Guide
Management - correct answer ✔✔ The process of coordinating people and other resources to
achieve the goals of an organization
The Basic Management Functions - correct answer ✔✔ Planning-> Organizing->Leading and
Motivating->Controlling
A Mission Statement answers which two questions? - correct answer ✔✔ Who are our
customers and Who is our core competency?
Core Competencies - correct answer ✔✔ Approaches and processes that give a company an
advantage
SWOT Analysis - correct answer ✔✔ Strengths (Core Competencies), Weakness, Opportunities,
and Threats
Planning - correct answer ✔✔ Establishing organizational goals and deciding how to accomplish
them
Mission - correct answer ✔✔ An organization's mission is a statement of basic purpose that
makes the organization different from others
Weakness - correct answer ✔✔ Internal limitations a company faces in developing or
implementing plans
Opportunities - correct answer ✔✔ Situations that, if exploited, could produce rewards for an
organization
,What is easier to change, a Strategic plan or a Tactical Plan? - correct answer ✔✔ Tactical Plan
Examples of Opportunities - correct answer ✔✔ New Markets, New Technology, Increased
Demand, and Competitor Complacency.
Examples of Threats - correct answer ✔✔ Foreign Competitors, Slowing Market Growth,
Regulatory Requirements, and Sole Sourcing.
Examples of Weakness - correct answer ✔✔ Turnover, Lack of Direction, Labor Grievances, and
a Negative Public Image
Examples of Core Competencies - correct answer ✔✔ Efficient Distributions, Protected Patents,
Proven Management, and Cost Advantage
Threats - correct answer ✔✔ Conditions or barriers that may prevent the firm from reaching its
objectives
Strategic Planning - correct answer ✔✔ Broad guide for major policy setting, Designed to
achieve long-term goals
Who makes a Strategic Plan for the Business? - correct answer ✔✔ Board of Directors and Top
Management
Tactical Plan - correct answer ✔✔ Smaller-scale plan to implement strategic plan. Can be
updated periodically.
Operation Plan - correct answer ✔✔ Designed to implement tactical plans. Plan is one year or
less. Deals with how to accomplish specific objectives.
, Organizing - correct answer ✔✔ A manager must group resources and activities to accomplish
some end result in a efficient and effective manner.
Leading - correct answer ✔✔ The process of influencing people to work toward a common goal
Motivating - correct answer ✔✔ The process of providing reasons for people to work in the best
interests of the organization
S.M.A.R.T Goals - correct answer ✔✔ Goals that are Specific, Measurable, Attainable, Relevant,
and Time Specific
Middle Management - correct answer ✔✔ Implements strategy and policies developed by top
managers. Develop tactical and operational plans. Coordinate and supervise first-line managers.
Middle Management examples - correct answer ✔✔ Division Manager, Department Head, Plant
Manager, Operations Manager
Top Management Examples - correct answer ✔✔ President and Vice President
Management Levels - correct answer ✔✔ Top Management<-Middle Management<-First Line
Management
Top Management is in charge of... - correct answer ✔✔ Guides and controls the organization's
overall fortunes. Responsible for developing the mission and determining strategy.
HR Management - correct answer ✔✔ Manages a company's human resources programs.
Hiring, training, and evaluating employee performance. Ensures government regulation
compliance.
Management - correct answer ✔✔ The process of coordinating people and other resources to
achieve the goals of an organization
The Basic Management Functions - correct answer ✔✔ Planning-> Organizing->Leading and
Motivating->Controlling
A Mission Statement answers which two questions? - correct answer ✔✔ Who are our
customers and Who is our core competency?
Core Competencies - correct answer ✔✔ Approaches and processes that give a company an
advantage
SWOT Analysis - correct answer ✔✔ Strengths (Core Competencies), Weakness, Opportunities,
and Threats
Planning - correct answer ✔✔ Establishing organizational goals and deciding how to accomplish
them
Mission - correct answer ✔✔ An organization's mission is a statement of basic purpose that
makes the organization different from others
Weakness - correct answer ✔✔ Internal limitations a company faces in developing or
implementing plans
Opportunities - correct answer ✔✔ Situations that, if exploited, could produce rewards for an
organization
,What is easier to change, a Strategic plan or a Tactical Plan? - correct answer ✔✔ Tactical Plan
Examples of Opportunities - correct answer ✔✔ New Markets, New Technology, Increased
Demand, and Competitor Complacency.
Examples of Threats - correct answer ✔✔ Foreign Competitors, Slowing Market Growth,
Regulatory Requirements, and Sole Sourcing.
Examples of Weakness - correct answer ✔✔ Turnover, Lack of Direction, Labor Grievances, and
a Negative Public Image
Examples of Core Competencies - correct answer ✔✔ Efficient Distributions, Protected Patents,
Proven Management, and Cost Advantage
Threats - correct answer ✔✔ Conditions or barriers that may prevent the firm from reaching its
objectives
Strategic Planning - correct answer ✔✔ Broad guide for major policy setting, Designed to
achieve long-term goals
Who makes a Strategic Plan for the Business? - correct answer ✔✔ Board of Directors and Top
Management
Tactical Plan - correct answer ✔✔ Smaller-scale plan to implement strategic plan. Can be
updated periodically.
Operation Plan - correct answer ✔✔ Designed to implement tactical plans. Plan is one year or
less. Deals with how to accomplish specific objectives.
, Organizing - correct answer ✔✔ A manager must group resources and activities to accomplish
some end result in a efficient and effective manner.
Leading - correct answer ✔✔ The process of influencing people to work toward a common goal
Motivating - correct answer ✔✔ The process of providing reasons for people to work in the best
interests of the organization
S.M.A.R.T Goals - correct answer ✔✔ Goals that are Specific, Measurable, Attainable, Relevant,
and Time Specific
Middle Management - correct answer ✔✔ Implements strategy and policies developed by top
managers. Develop tactical and operational plans. Coordinate and supervise first-line managers.
Middle Management examples - correct answer ✔✔ Division Manager, Department Head, Plant
Manager, Operations Manager
Top Management Examples - correct answer ✔✔ President and Vice President
Management Levels - correct answer ✔✔ Top Management<-Middle Management<-First Line
Management
Top Management is in charge of... - correct answer ✔✔ Guides and controls the organization's
overall fortunes. Responsible for developing the mission and determining strategy.
HR Management - correct answer ✔✔ Manages a company's human resources programs.
Hiring, training, and evaluating employee performance. Ensures government regulation
compliance.
