MGM 101 END YEAR EXAM 2025 GRADED A+ QUESTIONS
WITH 100% CORRECT ANSWERS
Manager - are responsible for making decisions under conditions of uncertainty about the allocation
of scarce resources towards achieving the organization's strategic objectives
Six Critical Success Factors - - Achieving Financial Performance
- Meet Customers' Needs
- Deliver Quality (relative to price)
- Promote Innovation
- Gain Employee Commitment
- Building Distinctive Competitive Advantage
Four Functions of Management (Henri Fayol) - - Planning
- Organizing
- Leading
- Controlling
Why is Studying Management Important? - a business depends on a quality manager
First-line Managers - manage the work of non-managerial employees who typically are involved with
producing the organization's products or servicing the organization's customers
Middle Managers - manage the work of first-line managers and can be found between the lowest
and top levels of the organization
Top Managers - are responsible for making organization-wide decisions and establishing plans and
goals that affect the entire organization
Organization - a deliberate arrangement of people who act together to accomplish some specific
purpose
3 Common Characteristics of Organizations - 1. has a distinct purpose typically expressed through
goals the organization hopes to accomplish
, 2. is composed of people
3. develop a deliberate structure withing which members do their work
Management - coordinating work activities with and through other people so that activities are
completed efficiently and effectively
Efficiency - refers to getting the most output from the least amount of inputs
Effectiveness - completing activities so that organizational goals are achieved
Planning - defining goals, establishing strategy, and developing plans to coordinate activities
Organizing - determining what needs to be done, how it will be done, and who is to do it
Leading - directing and motivating all involved parties and resolving conflicts
Controlling - monitoring activities to ensure they are being accomplished as planned
Managerial Roles - specific categories of managerial behaviour
Mintzberg's 3 Types of Managerial Roles - interpersonal roles, informational roles, decisional roles
Interpersonal Roles - working with people or performing duties that are ceremonial and symbolic in
nature
Informational Roles - receiving, collecting and disseminating information
Decisional Roles - making significant choices that affect the organization
Management Skills - - Technical skills
- Human skills
- Conceptual skills
WITH 100% CORRECT ANSWERS
Manager - are responsible for making decisions under conditions of uncertainty about the allocation
of scarce resources towards achieving the organization's strategic objectives
Six Critical Success Factors - - Achieving Financial Performance
- Meet Customers' Needs
- Deliver Quality (relative to price)
- Promote Innovation
- Gain Employee Commitment
- Building Distinctive Competitive Advantage
Four Functions of Management (Henri Fayol) - - Planning
- Organizing
- Leading
- Controlling
Why is Studying Management Important? - a business depends on a quality manager
First-line Managers - manage the work of non-managerial employees who typically are involved with
producing the organization's products or servicing the organization's customers
Middle Managers - manage the work of first-line managers and can be found between the lowest
and top levels of the organization
Top Managers - are responsible for making organization-wide decisions and establishing plans and
goals that affect the entire organization
Organization - a deliberate arrangement of people who act together to accomplish some specific
purpose
3 Common Characteristics of Organizations - 1. has a distinct purpose typically expressed through
goals the organization hopes to accomplish
, 2. is composed of people
3. develop a deliberate structure withing which members do their work
Management - coordinating work activities with and through other people so that activities are
completed efficiently and effectively
Efficiency - refers to getting the most output from the least amount of inputs
Effectiveness - completing activities so that organizational goals are achieved
Planning - defining goals, establishing strategy, and developing plans to coordinate activities
Organizing - determining what needs to be done, how it will be done, and who is to do it
Leading - directing and motivating all involved parties and resolving conflicts
Controlling - monitoring activities to ensure they are being accomplished as planned
Managerial Roles - specific categories of managerial behaviour
Mintzberg's 3 Types of Managerial Roles - interpersonal roles, informational roles, decisional roles
Interpersonal Roles - working with people or performing duties that are ceremonial and symbolic in
nature
Informational Roles - receiving, collecting and disseminating information
Decisional Roles - making significant choices that affect the organization
Management Skills - - Technical skills
- Human skills
- Conceptual skills
