MAN 3025 Exam 1 Questions & Answers Solved 100% Correct

organization - a group of people who work together to achieve some specific purpose management - 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 - means to use resources-people, money raw materials, and the like - wisely and cost effectively effectiveness - means to achieve results, to make the right decisions and to successfully carry them out so that they achieve the organization's goals planning - setting goals and deciding how to achieve them organizing - arranging tasks, people, and other resources to accomplish the work leading - motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals controlling - monitoring performance, comparing it with goals, and taking corrective action as needed competitive advantage - the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them innovation - finding ways to deliver new or better goods or services sustainability - economic development that meets the needs of the present without compromising the ability of future generations to meet their own needstop managers - make long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it middle managers - 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 - make short-term operating decisions, directing the daily tasks of nonmangerial personnel team leader - a manager who is responsible for facilitating team activities toward achieving key results functional manager - responsible for just one organizational activity general manager - responsible for several organizational activities for-profit organization - goal is to make money, or profits, by offering products or services non-profit organization - their purpose is to offer services to some clients, not to make a profit technical skills - consist of the job-specific knowledge needed to perform well in a specialized field conceptual skills - consist of the ability to think analytically, to visualize an organization as a whole and understand how the parts work together human skills - consist of the ability to work well in cooperation with other people to get things donesoft skills - the ability to motivate, to inspire trust, to communicate with others - are necessary for managers of all levels interpersonal roles - managers interact with people inside and outside their work units informational roles - monitor, disseminator, and spokesperson - managers receive and communicate information decisional roles - managers use information to make decisions to solve problems or take advantage of opportunities entrepreneurship - the process of taking risk to try to create a new enterprise