MGMT 339 Quiz #1 || Questions and Correct Detailed Answers.
What is the primary objective of an organization? correct answers -to increase revenue
-to increase social welfare
Experience economy correct answers -creating a psychological impact within the mind of the
customer
Management correct answers -the attainment of organizational goals in an effective and efficient
manner through planning organizing, leading, and controlling organizational resources
-process of working with people and resources to accomplish organizational goals
-has to be a group of people, deliberately structured, and has a purpose
ex: CSUF: structured, provides service, group of people, different roles, mission, vission
Difference between an industry and a company? correct answers -industry is a group of
companies with the same service/goods that they are involved in
ex: retail stores
-company
ex: walmrat
Organization correct answers -a social entity that is goal directed and deliberately structured
Goal correct answers -a desired future condition an organization decides to achieve
, Effectiveness correct answers -measure of how well the goals have been accomplished
-organization is effective when managers choose the right goals and then achieve them
Efficiency correct answers -measure of how resources are used to achieve organization's desired
goal
-using least resources possible
Four Management Functions correct answers -Planning, Organizing, Leading, Controlling
-All four are equally important to improve organizational performance
Planning correct answers -Specifying goals and ways to attain them
Organizing correct answers -Assigning and coordinating resources to achieve goals
-Get people ready
-Str/Weaknesses to achieve goals
Leading correct answers -Influencing to motivate employees
Controlling correct answers -Monitoring (employee) performance and making corrections
Why is it so hard to manage economy right now? correct answers Globalization:
-Consumer demands transcend national borders
What is the primary objective of an organization? correct answers -to increase revenue
-to increase social welfare
Experience economy correct answers -creating a psychological impact within the mind of the
customer
Management correct answers -the attainment of organizational goals in an effective and efficient
manner through planning organizing, leading, and controlling organizational resources
-process of working with people and resources to accomplish organizational goals
-has to be a group of people, deliberately structured, and has a purpose
ex: CSUF: structured, provides service, group of people, different roles, mission, vission
Difference between an industry and a company? correct answers -industry is a group of
companies with the same service/goods that they are involved in
ex: retail stores
-company
ex: walmrat
Organization correct answers -a social entity that is goal directed and deliberately structured
Goal correct answers -a desired future condition an organization decides to achieve
, Effectiveness correct answers -measure of how well the goals have been accomplished
-organization is effective when managers choose the right goals and then achieve them
Efficiency correct answers -measure of how resources are used to achieve organization's desired
goal
-using least resources possible
Four Management Functions correct answers -Planning, Organizing, Leading, Controlling
-All four are equally important to improve organizational performance
Planning correct answers -Specifying goals and ways to attain them
Organizing correct answers -Assigning and coordinating resources to achieve goals
-Get people ready
-Str/Weaknesses to achieve goals
Leading correct answers -Influencing to motivate employees
Controlling correct answers -Monitoring (employee) performance and making corrections
Why is it so hard to manage economy right now? correct answers Globalization:
-Consumer demands transcend national borders
