MGM 101 EXAM 2 2025/2026 QUESTIONS WITH 100%
Manager - Makes decisions about scarce resource allocation towards achieving strategic objectives
(4) Functions of Management - (1) Planning & Strategizing
(2) Organizing
(3) Leading & Developing
(4) Controlling
(4) Types of Managers - Frontline; Middle; General; Functional
Frontline Manager - Manage other employees; Promoted employees; Directly managing
Middle Manager - Divisional; Needs management skills
General Manager - All departments, entire organization, ie. CEO
Management - Getting things done through people
Planning - Choose goals > Identify actions > Allocate > Measure success > Revise
Strategizing - What to do to achieve goals; Involves being aware of competition, changes in
technology/government, alternate strategies, choosing action
Organizing - Deciding who, where, how
Controlling - Monitoring performance against goals; Intervening
Leading - Motivating, influencing, directing others to pursue goals
Human Capital - Knowledge & skills of individuals
,Functional Managers - Particular function
(4) Levels of Management - (1) Corporate
(2) Business
(3) Functional
(4) Frontline
Corporate Level General Managers - CEO, CFO, COO, CTO report to Board of Directors
Board of Directors - Measure process & protect shareholders
Business Level General Managers - In organizations with only one business; Same as Corporate
(3) Managerial Roles - (1) Interpersonal Roles
(2) Informational Roles
(3) Decisional Roles
Interpersonal Roles - Liaison; Leader; Figurehead
Informational Roles - Disseminator/Informer; Monitor; Spokesperson
Decisional Roles - Negotiator; Resource Allocation; Disturbance Handler; Entrepreneur
(3) Competencies - (1) Conceptual Skills
(2) Technical Skills
(3) Human Skills
Conceptual Skills - Ability to see the big picture; Creative
Technical Skills - Mastery of equipment/technical procedure
, Human Skills - Ability to communicate, persuade, manage conflict, motivate, coach, negotiate, lead
(2) Values - Beliefs that guide preferences for outcomes of decisions
(1) Enacted Values
(2) Espoused Values
Enacted Values - Values that actually guide behaviours
Espoused Values - What people SAY are important to them
Shared Values - Values held in common
Ethical Values - Society expectations
(4) Managerial Motivation - (1) Desire to compete
(2) Desire to exercise power
(3) Desire to be different
(4) Desire to take action
Personalized Power Orientation - Personal gain; Thrill of bossing others
Socialized Power Orientation - Power to achieve social/organizational objectives
Stakeholder - Has a stake in operations and how it's run
Outer Circle Stakeholders - General Public
Government
Local Communities
Inner Circle Stakeholders - Direct interaction:
Employees
Manager - Makes decisions about scarce resource allocation towards achieving strategic objectives
(4) Functions of Management - (1) Planning & Strategizing
(2) Organizing
(3) Leading & Developing
(4) Controlling
(4) Types of Managers - Frontline; Middle; General; Functional
Frontline Manager - Manage other employees; Promoted employees; Directly managing
Middle Manager - Divisional; Needs management skills
General Manager - All departments, entire organization, ie. CEO
Management - Getting things done through people
Planning - Choose goals > Identify actions > Allocate > Measure success > Revise
Strategizing - What to do to achieve goals; Involves being aware of competition, changes in
technology/government, alternate strategies, choosing action
Organizing - Deciding who, where, how
Controlling - Monitoring performance against goals; Intervening
Leading - Motivating, influencing, directing others to pursue goals
Human Capital - Knowledge & skills of individuals
,Functional Managers - Particular function
(4) Levels of Management - (1) Corporate
(2) Business
(3) Functional
(4) Frontline
Corporate Level General Managers - CEO, CFO, COO, CTO report to Board of Directors
Board of Directors - Measure process & protect shareholders
Business Level General Managers - In organizations with only one business; Same as Corporate
(3) Managerial Roles - (1) Interpersonal Roles
(2) Informational Roles
(3) Decisional Roles
Interpersonal Roles - Liaison; Leader; Figurehead
Informational Roles - Disseminator/Informer; Monitor; Spokesperson
Decisional Roles - Negotiator; Resource Allocation; Disturbance Handler; Entrepreneur
(3) Competencies - (1) Conceptual Skills
(2) Technical Skills
(3) Human Skills
Conceptual Skills - Ability to see the big picture; Creative
Technical Skills - Mastery of equipment/technical procedure
, Human Skills - Ability to communicate, persuade, manage conflict, motivate, coach, negotiate, lead
(2) Values - Beliefs that guide preferences for outcomes of decisions
(1) Enacted Values
(2) Espoused Values
Enacted Values - Values that actually guide behaviours
Espoused Values - What people SAY are important to them
Shared Values - Values held in common
Ethical Values - Society expectations
(4) Managerial Motivation - (1) Desire to compete
(2) Desire to exercise power
(3) Desire to be different
(4) Desire to take action
Personalized Power Orientation - Personal gain; Thrill of bossing others
Socialized Power Orientation - Power to achieve social/organizational objectives
Stakeholder - Has a stake in operations and how it's run
Outer Circle Stakeholders - General Public
Government
Local Communities
Inner Circle Stakeholders - Direct interaction:
Employees
