Business Management Exam 1 Questions And Correct Verified Answers

BUSINESS MANAGEMENT EXAM 1
QUESTIONS AND CORRECT VERIFIED
ANSWERS
FourA2ManagementA2FunctionsA2-A2Ans--1.A2Planning
2.A2Organizing
3.A2LeadingA2
4.A2Controlling

ManagementA2SkillsA2-A2Ans--1.A2Conceptual-
A2abilityA2toA2seeA2theA2organizationA2asA2aA2wholeA2system
2.A2HumanA2Skills-A2ManagersA2abilityA2toA2workA2withA2theA2entireA2group.A2
3.A2TechnicalA2Skills-
A2UnderstandingA2ofA2andA2proficiencyA2inA2theA2performanceA2ofA2specificA2tasks.


DifferentA2levelsA2ofA2managerA2(Vertical)A2-A2Ans---TopA2managerA2-
A2settingA2organizationalA2goals,A2definingA2strategiesA2forA2achievingA2them,A2monitoring
A2andA2interpretingA2theA2externalA2environment
-MiddleA2managersA2-
A2implementingA2theA2overallA2strategiesA2andA2policiesA2definedA2byA2topA2managers,A2co
ncerningA2withA2theA2nearA2future.
-First-lineA2managersA2-A2ProductionA2ofA2goodsA2andA2services.

HorizontalA2DifferencesA2-A2Ans--i.A2FunctionalA2managers
1.A2ResponsibleA2forA2aA2departmentA2thatA2performsA2aA2singleA2functionalA2task,A2suchA2
asA2financeA2orA2marketing
A2ii.A2GeneralA2managers
1.A2ResponsibleA2forA2severalA2departmentsA2thatA2performA2differentA2functions,A2suchA2
asA2theA2managerA2ofA2Macy'sA2departmentA2storeA2orA2aA2FordA2automobileA2factory.

BecomingA2aA2NewA2ManagerA2-A2Ans--
a.A2MakingA2theA2shiftA2fromA2individualA2identityA2toA2managerA2identity
A2i.A2Specialist;A2performsA2tasksA2àA2generalist;A2coordinatesA2diverseA2tasks
A2ii.A2GetsA2thingsA2doneA2throughA2ownA2effortsA2àA2getsA2thingsA2doneA2throughA2others
A2iii.A2AnA2individualA2actorA2àA2aA2networkA2builder
A2iv.A2WorksA2relativelyA2independentlyA2àA2worksA2inA2highlyA2interdependentA2manner


ManagerA2rolesA2-A2Ans---InformationalA2roleA2-
A2activitiesA2usedA2toA2maintainA2andA2developA2anA2informationA2network.
-InterpersonalA2roleA2-
A2relationshipsA2withA2othersA2andA2areA2relatedA2toA2theA2humanA2skills
-decisionalA2roleA2-
A2eventsA2aboutA2whichA2theA2managerA2mustA2makeA2aA2choiceA2andA2takeA2action

, SocialA2Forces:A2-A2Ans--
Values,A2needs,A2standardsA2ofA2behaviorA2influenceA2→A2SocialA2Contract
ExamplesA2ofA2CurrentA2SocialA2Forces-A2WorkersA2want
FlexibleA2environment
CareerA2Opportunity
FeelA2valued,A2ableA2toA2influenceA2company

PoliticalA2ForcesA2-A2Ans--legalA2andA2politicalA2influence
-PoliticalA2Stability
-propertyA2rights
-contractA2rights
-regulation

EconomicA2ForcesA2-A2Ans---AvailabilityA2andA2distributionA2ofA2resources
-ChangesA2inA2supplyA2andA2demand
-CreditA2Availability

ExternalA2environment

(international)A2-A2Ans--
asA2managersA2planA2forA2expansionsA2intoA2globalA2marketsA2theyA2haveA2toA2considerA2t
heA2internationalA2dimension,A2whichA2includesA2eventsA2originatingA2inA2foreignA2countrie
s,A2asA2wellA2asA2newA2opportunitiesA2forA2U.S.A2companiesA2inA2otherA2countries.A2Provid
esA2newA2customers,A2competitors,A2suppliers,A2shapesA2social,A2technological,A2andA2ec
onomicA2trendsA2asA2well.

technologicalA2-A2Ans--
includesA2scientificA2andA2technologicalA2advancementsA2inA2aA2specificA2industry,A2asA2w
ellA2asA2societyA2atA2large.

socioculturalA2-A2Ans--
representsA2theA2demographicA2characteristicsA2asA2wellA2asA2theA2norms,A2customs,A2an
dA2valuesA2ofA2theA2generalA2population.A2population,A2age,A2educationA2levels.

economicA2-A2Ans--
representsA2theA2generalA2economicA2healthA2ofA2theA2countryA2orA2regionA2inA2whichA2the
A2organizationA2operates.A2ConsumerA2purchasingA2power,A2theA2unemploymentA2rate,A2
andA2interestA2ratesA2areA2aA2partA2ofA2this.A2HasA2becomeA2veryA2complexA2andA2isA2unc
ertain.

legal-politicalA2-A2Ans--
governmentA2regulationsA2atA2theA2local,A2state,A2andA2federalA2levels,A2asA2wellA2asA2polit
icalA2activitiesA2designedA2toA2influenceA2companyA2behavior.A2Gov'tA2triesA2notA2toA2overr
egulateA2business.

TaskA2EnvironmentA2-A2Ans--DirectA2workingA2relationship