MGT 300 Exam 1 Study Guide (Williams UA) UPDATED ACTUAL Questions And
Correct Answers
Terms in this set (119)
The Art of Management the pursuit of organizational goals efficiently and effectively, integrating the work
of people; planning, organizing, leading, and controlling the organization's
resources
Efficiency use resources (people, money, raw materials, and the like) wisely and cost
effectively
, Effectiveness to achieve results, to make the right decisions and to successfully carry them out
so that they achieve the organization's goals
Management Process includes. ....................................................... 1. Planning
2. Organizing
3. Leading
4. Controlling
Planning (Management Process) you set goals and decide how to achieve them
Organizing (Management Process) you arrange tasks, people, and other resources to accomplish the work
Leading (Management Process) you motivate, direct, and otherwise influence people to work hard and achieve
the organization's goals
Controlling (Management Process) you monitor performance, compare it with goals, and take corrective action as
needed
Four Levels of Management Level 1: Top managers
Level 2: Middle managers
Level 3: First-line managers
Level 4: Team Leader
Level 1 Top Managers Those who make long term decisions about the overall direction of the
organization and establish the objectives, policies, and strategies for it
Level 2 Middle Managers Those who implement the policies and plans of the top managers above them
and supervise and coordinate the activities of the first-line managers below them
Level 3 First-Line Managers Those who make short-term operation decisions, direction the daily tasks of non-
managerial personnel
Level 4 Team Leaders Those who are responsible for facilitating team activities toward achieving key
results
Functional Managers Are responsible for just one organizational activity
ex.) director of finance, vice president of production
General Managers Are responsible for several organizational activities
ex.) executive vice president, an executive director for a nonprofit
Seven Challenges for Being an Exceptional Manager 1. Competitive advantage
2. Information technology
3. Diversity
4. Globalization
5. Ethical standards
6. Sustainability
7. Happiness and meaningfulness
Correct Answers
Terms in this set (119)
The Art of Management the pursuit of organizational goals efficiently and effectively, integrating the work
of people; planning, organizing, leading, and controlling the organization's
resources
Efficiency use resources (people, money, raw materials, and the like) wisely and cost
effectively
, Effectiveness to achieve results, to make the right decisions and to successfully carry them out
so that they achieve the organization's goals
Management Process includes. ....................................................... 1. Planning
2. Organizing
3. Leading
4. Controlling
Planning (Management Process) you set goals and decide how to achieve them
Organizing (Management Process) you arrange tasks, people, and other resources to accomplish the work
Leading (Management Process) you motivate, direct, and otherwise influence people to work hard and achieve
the organization's goals
Controlling (Management Process) you monitor performance, compare it with goals, and take corrective action as
needed
Four Levels of Management Level 1: Top managers
Level 2: Middle managers
Level 3: First-line managers
Level 4: Team Leader
Level 1 Top Managers Those who make long term decisions about the overall direction of the
organization and establish the objectives, policies, and strategies for it
Level 2 Middle Managers Those who implement the policies and plans of the top managers above them
and supervise and coordinate the activities of the first-line managers below them
Level 3 First-Line Managers Those who make short-term operation decisions, direction the daily tasks of non-
managerial personnel
Level 4 Team Leaders Those who are responsible for facilitating team activities toward achieving key
results
Functional Managers Are responsible for just one organizational activity
ex.) director of finance, vice president of production
General Managers Are responsible for several organizational activities
ex.) executive vice president, an executive director for a nonprofit
Seven Challenges for Being an Exceptional Manager 1. Competitive advantage
2. Information technology
3. Diversity
4. Globalization
5. Ethical standards
6. Sustainability
7. Happiness and meaningfulness
