MGT 301 Exam 1 Kirn UKY (Ch
1-4) Latest Update
Organization - ANSWER A group of people who work together to achieve some
specific purpose
Management - ANSWER The pursuit of organizational Goals efficiently and
effectively by integrating the work of people through planning, organizing,
leading, and controlling the organization's resources.
Efficiency - ANSWER Means of attaining the organizations goals, being efficient
is using your resources such as people, money, raw materials, and cost
effectively
Effectiveness - ANSWER Achieving organizational goals
Four Management Functions - ANSWER 1. Planning
2. Organizing
3. Leading
4. Controlling
Planning - ANSWER set goals and decide how to achieve them
Organizing - ANSWER arranging tasks, people, and other resources to
accomplish the work
Controlling - ANSWER monitoring progress toward goal achievement and taking
corrective action when needed
Leading - ANSWER motivating, directing, and otherwise influencing people to
work hard to achieve the organization's goals
7 challenges to being an exceptional manager - ANSWER 1. Managing for
competitive advantage
2. Managing for diversity
, 3. Managing for globalization
4. Managing for information technology
5. Managing for ethical standards
6. Managing for sustainability
7. Managing for your own happiness and life goals
Top Managers - ANSWER make long-term decisions about the overall direction
of the organization and establish the objectives, policies, and strategies for it
Middle Managers - ANSWER implement the policies and plans of the top
managers above them and supervise and coordinate the activities of the first-
line managers below them
First-line managers - ANSWER make short-term operating decisions, directing
the daily tasks of non managerial personnel
Functional manager - ANSWER responsible for just one organizational activity
General Manager - ANSWER responsible for several organizational activities
Skills Exceptional Managers Need - ANSWER -Technical skills
-Conceptual skills
-Human skills
-Soft skills
Three Types of Managerial Roles - ANSWER 1. Interpersonal
2. Informational
3. Decisional
Entrepreneurship - ANSWER the process of starting, organizing, managing, and
assuming the responsibility for a business
Entrepreneur - ANSWER A person who organizes, manages, and takes on the
risks of a business.
Intrapreneur - ANSWER someone who works inside an existing organization who
sees an opportunity for a product or service and mobilizes the organization's
resources to try to realize it
Scientific Management - ANSWER Emphasizes the scientific study of work
methods to improve the productivity of individual workers
Four points of scientific management - ANSWER 1. Evaluate a task by
scientifically studying each part of the task
2. Carefully select workers with the right abilities for the task
1-4) Latest Update
Organization - ANSWER A group of people who work together to achieve some
specific purpose
Management - ANSWER The pursuit of organizational Goals efficiently and
effectively by integrating the work of people through planning, organizing,
leading, and controlling the organization's resources.
Efficiency - ANSWER Means of attaining the organizations goals, being efficient
is using your resources such as people, money, raw materials, and cost
effectively
Effectiveness - ANSWER Achieving organizational goals
Four Management Functions - ANSWER 1. Planning
2. Organizing
3. Leading
4. Controlling
Planning - ANSWER set goals and decide how to achieve them
Organizing - ANSWER arranging tasks, people, and other resources to
accomplish the work
Controlling - ANSWER monitoring progress toward goal achievement and taking
corrective action when needed
Leading - ANSWER motivating, directing, and otherwise influencing people to
work hard to achieve the organization's goals
7 challenges to being an exceptional manager - ANSWER 1. Managing for
competitive advantage
2. Managing for diversity
, 3. Managing for globalization
4. Managing for information technology
5. Managing for ethical standards
6. Managing for sustainability
7. Managing for your own happiness and life goals
Top Managers - ANSWER make long-term decisions about the overall direction
of the organization and establish the objectives, policies, and strategies for it
Middle Managers - ANSWER implement the policies and plans of the top
managers above them and supervise and coordinate the activities of the first-
line managers below them
First-line managers - ANSWER make short-term operating decisions, directing
the daily tasks of non managerial personnel
Functional manager - ANSWER responsible for just one organizational activity
General Manager - ANSWER responsible for several organizational activities
Skills Exceptional Managers Need - ANSWER -Technical skills
-Conceptual skills
-Human skills
-Soft skills
Three Types of Managerial Roles - ANSWER 1. Interpersonal
2. Informational
3. Decisional
Entrepreneurship - ANSWER the process of starting, organizing, managing, and
assuming the responsibility for a business
Entrepreneur - ANSWER A person who organizes, manages, and takes on the
risks of a business.
Intrapreneur - ANSWER someone who works inside an existing organization who
sees an opportunity for a product or service and mobilizes the organization's
resources to try to realize it
Scientific Management - ANSWER Emphasizes the scientific study of work
methods to improve the productivity of individual workers
Four points of scientific management - ANSWER 1. Evaluate a task by
scientifically studying each part of the task
2. Carefully select workers with the right abilities for the task
