MGMT 303: Midterm Exam | UPDATED Questions with 100%
Verified Answers
Question: Definition of Management
Answer:
the art of getting things done through people
Question: The difference between effective and efficient Effective
Answer:
to achieve results to make the right decisions, and to successfully carry them out so they achieve the
organization's goals
Question: Efficient
Answer:
to use resources (people, money, raw materials, and the like) wisely and cost-effectively
Question: What are the 4 functions of Management?
Answer:
Planning, Organizing, Leading, and Controlling
Question: Planning
Answer:
you set goals and decide how to achieve them
Question: Organizing
Answer:
you arrange tasks people and other resources to accomplice the work
Question: Leading
Answer:
you motivate, direct, and otherwise influence people to work hard to achieve the organization's goals
Question: Controling
Answer:
you monitor performance, compare it with goals, and take corrective actions as needed
, Question: Rewards of being an exceptional manager
Answer:
You will have an insider understanding of how to deal with organizations from the outside You will know from
experience how to relate to your supervisors You will better interact with co-workers You will be able to
manage yourself and your career You and your employees can experience a sense of accomplishments You can
stretch your abilities and magnify your range You can build a catalog of successful products or services You
can become a mentor and help others
Question: Challenges of being an exceptional manager
Answer:
1. Managing for competitive advantage 2. Managing for information technology 3. Managing for diversity 4.
Managing for globalization 5. Managing for ethical standards 6. Managing for sustainability 7. Managing for
happiness and meaningfulness
Question: Levels of Management—Define the 4 levels of management and tasks of a manager at each level
Answer:
Top, middle, first-line, team leads (functional manager and general manager)
Question: Top managment
Answer:
make long-term decisions
Question: Middle managers
Answer:
implement decisions of top management
Question: First-line managers
Answer:
make short-term decisions
Question: Team manager
Answer:
Verified Answers
Question: Definition of Management
Answer:
the art of getting things done through people
Question: The difference between effective and efficient Effective
Answer:
to achieve results to make the right decisions, and to successfully carry them out so they achieve the
organization's goals
Question: Efficient
Answer:
to use resources (people, money, raw materials, and the like) wisely and cost-effectively
Question: What are the 4 functions of Management?
Answer:
Planning, Organizing, Leading, and Controlling
Question: Planning
Answer:
you set goals and decide how to achieve them
Question: Organizing
Answer:
you arrange tasks people and other resources to accomplice the work
Question: Leading
Answer:
you motivate, direct, and otherwise influence people to work hard to achieve the organization's goals
Question: Controling
Answer:
you monitor performance, compare it with goals, and take corrective actions as needed
, Question: Rewards of being an exceptional manager
Answer:
You will have an insider understanding of how to deal with organizations from the outside You will know from
experience how to relate to your supervisors You will better interact with co-workers You will be able to
manage yourself and your career You and your employees can experience a sense of accomplishments You can
stretch your abilities and magnify your range You can build a catalog of successful products or services You
can become a mentor and help others
Question: Challenges of being an exceptional manager
Answer:
1. Managing for competitive advantage 2. Managing for information technology 3. Managing for diversity 4.
Managing for globalization 5. Managing for ethical standards 6. Managing for sustainability 7. Managing for
happiness and meaningfulness
Question: Levels of Management—Define the 4 levels of management and tasks of a manager at each level
Answer:
Top, middle, first-line, team leads (functional manager and general manager)
Question: Top managment
Answer:
make long-term decisions
Question: Middle managers
Answer:
implement decisions of top management
Question: First-line managers
Answer:
make short-term decisions
Question: Team manager
Answer:
