CHAPTER 1: WHY STUDY MANAGEMENT? WHAT IS MANAGEMENT? QUESTIONS AND ANSWERS WITH SOLUTIONS 2024

CHAPTER 1: WHY STUDY MANAGEMENT? WHAT IS MANAGEMENT? QUESTIONS AND ANSWERS WITH SOLUTIONS 2024 Management - ANSWER The planning, organizing, leading and controlling of human and other resources to achieve organizational goals efficiently and effectively. Organizations - ANSWER Collections of people who work together and coordinate their actions to achieve a wide variety of goals or desired future outcome. Organizations that are efficient but not effective produce low -quality products that customers do not want. - ANSWER False The top management team of Tapco Developers ensures that first -level managers are given more authority and responsibility over how they perform their work activities. First -level managers are also allowed to make important decisions in collaboration with t he middle managers. This is an example of ____. - ANSWER Empowerment The creation of a new vision for a struggling company using a new approach to planning and organizing to allow it to survive and eventually prosper is known as _____. - ANSWER turnaround management Human skills are job -specific skills required to perform a particular type of work or occupation at a high level. - ANSWER false Middle managers are responsible for the performance of all the departments in an organization. - ANSWER false low-cost strategy involves - ANSWER obtaining customers by offering goods and services more cheaply than others in the market. The differentiation strategy involves obtaining customers by offering goods and services more cheaply than its competitors. - ANSWER False