MGRADES
MBA Exam 1 UPDATED ACTUAL Exam
Questions and CORRECT Answers
Difference in goal and plan - CORRECT ANSWER - a goal is adesired future
circumstance or condition. a plan is a blueprint for goal achievement and specifies necessary
actions
Difference between mission and vision - CORRECT ANSWER - a mission is the
organizations reason for existence. a vision is a concise statement of what an organization
intends to achieve
Difference between mission and mission statement - CORRECT ANSWER - a mission is
the organizations reason for existence. Mission statement is a broadly stated definition of
purpose that distinguishes the organization from others of similar type
Strategic goals - CORRECT ANSWER - Strategic goals are broad statements describing
where the organization wants to be in the future. senior management
strategic plans - CORRECT ANSWER - Strategic plans define the action steps by which
the company intends to attain strategic goals
tactical goals - CORRECT ANSWER - Tactical goals are the results that major divisions
and departments within the organization intend to achieve. Middle management
tactical plans - CORRECT ANSWER - Tactical plans are designed to help execute the
major strategic plans and to accomplish a specific part of the company's strategy.
operational goals - CORRECT ANSWER - Operational goals are the results expected from
departments, work groups, and individuals. lower management
tactical goals - CORRECT ANSWER - are the results that major divisions and
departments within the organization intend to achieve.
, MGRADES
Tactical plans - CORRECT ANSWER - are designed to help execute the major strategic
plans and to accomplish a specific part of the company's strategy.
organization planning process - CORRECT ANSWER - develop the plan, translate the
plan, plan operations, performance management, monitor and learn
Management by Objectives (MBO) - CORRECT ANSWER - is a system whereby
managers and employees define goals for every department, project, and person and use them to
monitor subsequent performance.
Management by means (MBM) - CORRECT ANSWER - focuses attention on the methods
and processes used to achieve goals.
Management by Objectives (MBO) steps - CORRECT ANSWER - set goals, develop
action plans, review progress, appraise performance
contingency planning - CORRECT ANSWER - Identifies important factors in the
environment and defines a range of alternative responses to be taken in the case of emergencies,
setbacks, or unexpected conditions.
Scenario building - CORRECT ANSWER - An approach where managers look at trends
and discontinuities and imagine possible alternative futures to build a framework within which
unexpected future events can be managed.
crisis planning - CORRECT ANSWER - involves the two major stages of prevention and
preparation.
centralized and decentralized planning - CORRECT ANSWER - Decentralized planning:
which means that planning experts work with managers in major divisions or departments to
develop their own goals and plans
MBA Exam 1 UPDATED ACTUAL Exam
Questions and CORRECT Answers
Difference in goal and plan - CORRECT ANSWER - a goal is adesired future
circumstance or condition. a plan is a blueprint for goal achievement and specifies necessary
actions
Difference between mission and vision - CORRECT ANSWER - a mission is the
organizations reason for existence. a vision is a concise statement of what an organization
intends to achieve
Difference between mission and mission statement - CORRECT ANSWER - a mission is
the organizations reason for existence. Mission statement is a broadly stated definition of
purpose that distinguishes the organization from others of similar type
Strategic goals - CORRECT ANSWER - Strategic goals are broad statements describing
where the organization wants to be in the future. senior management
strategic plans - CORRECT ANSWER - Strategic plans define the action steps by which
the company intends to attain strategic goals
tactical goals - CORRECT ANSWER - Tactical goals are the results that major divisions
and departments within the organization intend to achieve. Middle management
tactical plans - CORRECT ANSWER - Tactical plans are designed to help execute the
major strategic plans and to accomplish a specific part of the company's strategy.
operational goals - CORRECT ANSWER - Operational goals are the results expected from
departments, work groups, and individuals. lower management
tactical goals - CORRECT ANSWER - are the results that major divisions and
departments within the organization intend to achieve.
, MGRADES
Tactical plans - CORRECT ANSWER - are designed to help execute the major strategic
plans and to accomplish a specific part of the company's strategy.
organization planning process - CORRECT ANSWER - develop the plan, translate the
plan, plan operations, performance management, monitor and learn
Management by Objectives (MBO) - CORRECT ANSWER - is a system whereby
managers and employees define goals for every department, project, and person and use them to
monitor subsequent performance.
Management by means (MBM) - CORRECT ANSWER - focuses attention on the methods
and processes used to achieve goals.
Management by Objectives (MBO) steps - CORRECT ANSWER - set goals, develop
action plans, review progress, appraise performance
contingency planning - CORRECT ANSWER - Identifies important factors in the
environment and defines a range of alternative responses to be taken in the case of emergencies,
setbacks, or unexpected conditions.
Scenario building - CORRECT ANSWER - An approach where managers look at trends
and discontinuities and imagine possible alternative futures to build a framework within which
unexpected future events can be managed.
crisis planning - CORRECT ANSWER - involves the two major stages of prevention and
preparation.
centralized and decentralized planning - CORRECT ANSWER - Decentralized planning:
which means that planning experts work with managers in major divisions or departments to
develop their own goals and plans
