PRINCIPLES OF MANAGEMENT
ACTUAL EXAM QUESTIONS &
PASSED SOLUTIONS 100%
Management changes with: - Correct Answer ✔✔ employees, technology, etc.
Management Key Concepts: - Correct Answer ✔✔
Organization - Correct Answer ✔✔ People working together and coordinating their
actions to achieve specific goals.
Goal - Correct Answer ✔✔ A desired future condition that the organization seeks to
achieve.
Management - Correct Answer ✔✔ The process of using organizational resources to
achieve the organizations goals.
These goals are met by what (5) things? - Correct Answer ✔✔ 1. Planning
2. Organizing
3. Controlling
4. Decision Making
5. Leading
Who founded these functions? - Correct Answer ✔✔ Henry Fayol
Resources are organizational assets and include: - Correct Answer ✔✔ -people
-machinery
-raw materials
-information, skills
-financial capital
Managers are the people responsible for supervising the use of an organization's
resources to ________? - Correct Answer ✔✔ Meet it's goals
Organizations must provide a ____ or ____ desired by it's customer. - Correct Answer
✔✔ good or service
Example: Managers of Campbell's soup manage the firm to provide quality soup
products. - Correct Answer ✔✔ Achieving High Performance
Organizational Performance - Correct Answer ✔✔ Measures how efficiently and
effectively managers use resources to satisfy customers and achieve goals.
, Efficiency - Correct Answer ✔✔ A measure of how well resources are used to achieve a
goal.
Example: Usually, managers must try to minimize the input of resources to attain the
same goal. - Correct Answer ✔✔ Efficiency
Effectiveness - Correct Answer ✔✔ A measure of the appropriateness of the goals
chosen (are these the right goals?), and the degree to which they are achieved.
Example: Organizations are more effective when managers choose the correct goals
and then achieve them. - Correct Answer ✔✔ Effectiveness
Managerial Functions - Correct Answer ✔✔ Henry Fayol was the first to describe 4
managerial functions when the was the CEO of a large mining company in the late
1800's.
Fayol noted managers at all levels, operating in both for-profit and non-profit
organizations, must perform each of these (4) functions: - Correct Answer ✔✔ 1.
planning (choose goals)
2. organizing (working together)
3. leading (give direction)
4. controlling (monitor and measure)
Planning - Correct Answer ✔✔ The process used by managers to identify and select
appropriate goals and courses of action for an organization.
(3) steps to good planning: - Correct Answer ✔✔ 1. which goals should be pursued?
2. how should the goal be attained?
3. how should resources be allocated?
The planning function determines how ____ and ____ the organization is an determines
the strategy of the organization. - Correct Answer ✔✔ effective and efficient
Organizing - Correct Answer ✔✔ Managers create the structure of working relationships
between organizational members.
To organize, they group people into departments according to their tasks performed. -
Correct Answer ✔✔ Managers will also layout lines of authority and responsibility for
members. (ex. job titles)
Organizational Structure - Correct Answer ✔✔ is the outcome of organizing. This
structure coordinated and motivated employees so that they work together to achieve
goals.
ACTUAL EXAM QUESTIONS &
PASSED SOLUTIONS 100%
Management changes with: - Correct Answer ✔✔ employees, technology, etc.
Management Key Concepts: - Correct Answer ✔✔
Organization - Correct Answer ✔✔ People working together and coordinating their
actions to achieve specific goals.
Goal - Correct Answer ✔✔ A desired future condition that the organization seeks to
achieve.
Management - Correct Answer ✔✔ The process of using organizational resources to
achieve the organizations goals.
These goals are met by what (5) things? - Correct Answer ✔✔ 1. Planning
2. Organizing
3. Controlling
4. Decision Making
5. Leading
Who founded these functions? - Correct Answer ✔✔ Henry Fayol
Resources are organizational assets and include: - Correct Answer ✔✔ -people
-machinery
-raw materials
-information, skills
-financial capital
Managers are the people responsible for supervising the use of an organization's
resources to ________? - Correct Answer ✔✔ Meet it's goals
Organizations must provide a ____ or ____ desired by it's customer. - Correct Answer
✔✔ good or service
Example: Managers of Campbell's soup manage the firm to provide quality soup
products. - Correct Answer ✔✔ Achieving High Performance
Organizational Performance - Correct Answer ✔✔ Measures how efficiently and
effectively managers use resources to satisfy customers and achieve goals.
, Efficiency - Correct Answer ✔✔ A measure of how well resources are used to achieve a
goal.
Example: Usually, managers must try to minimize the input of resources to attain the
same goal. - Correct Answer ✔✔ Efficiency
Effectiveness - Correct Answer ✔✔ A measure of the appropriateness of the goals
chosen (are these the right goals?), and the degree to which they are achieved.
Example: Organizations are more effective when managers choose the correct goals
and then achieve them. - Correct Answer ✔✔ Effectiveness
Managerial Functions - Correct Answer ✔✔ Henry Fayol was the first to describe 4
managerial functions when the was the CEO of a large mining company in the late
1800's.
Fayol noted managers at all levels, operating in both for-profit and non-profit
organizations, must perform each of these (4) functions: - Correct Answer ✔✔ 1.
planning (choose goals)
2. organizing (working together)
3. leading (give direction)
4. controlling (monitor and measure)
Planning - Correct Answer ✔✔ The process used by managers to identify and select
appropriate goals and courses of action for an organization.
(3) steps to good planning: - Correct Answer ✔✔ 1. which goals should be pursued?
2. how should the goal be attained?
3. how should resources be allocated?
The planning function determines how ____ and ____ the organization is an determines
the strategy of the organization. - Correct Answer ✔✔ effective and efficient
Organizing - Correct Answer ✔✔ Managers create the structure of working relationships
between organizational members.
To organize, they group people into departments according to their tasks performed. -
Correct Answer ✔✔ Managers will also layout lines of authority and responsibility for
members. (ex. job titles)
Organizational Structure - Correct Answer ✔✔ is the outcome of organizing. This
structure coordinated and motivated employees so that they work together to achieve
goals.
