Business Management Module 1 Exam Questions with Latest Update

Management - ANSWER-getting work done through others Efficiency - ANSWER-getting work done with a minimum of effort, expense, or waste Effectiveness - ANSWER-accomplishing tasks that help fulfill organizational objectives Planning - ANSWER-determining organizational goals and a means for achieving them Organizing - ANSWER-deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom Leading - ANSWER-inspiring and motivating workers to work hard to achieve organizational goals Controlling - ANSWER-monitoring progress toward goal achievement and taking corrective action when needed Top managers - ANSWER-executives responsible for the overall direction of the organization Middle managers - ANSWER-responsible for setting objectives consistent with top management's goals and for planning and implementing subunit strategies for achieving these objectives First-line managers - ANSWER-train and supervise the performance of nonmanagerial employees who are directly responsible for producing the company's products or services Team leaders - ANSWER-managers responsible for facilitating team activities toward goal accomplishment Figurehead role - ANSWER-the interpersonal role managers play when they perform ceremonial duties Leader role - ANSWER-the interpersonal role managers play when they motivate and encourage workers to accomplish organizational objectives Liaison role - ANSWER-the interpersonal role managers play when they deal with people outside their units