BUSG 129 FINAL EXAM STUDY GUIDE QUESTIONS AND
ANSWERS
strategic - CORRECT ANSWER✅✅✅plans outline the firms long range organizations gals and set.a
course of action the firm will pursue to reach its goals.
the ability to prepare a formal profit and loss statement - CORRECT ANSWER✅✅✅ex. of managerial
technical skils
measure of closely a product conforms to predetermined standards and customer expectations -
CORRECT ANSWER✅✅✅quality
a broad, long term accomplishment an organization wants to achieve - CORRECT ANSWER✅✅✅goal
brief statement of organization's operations goals; such as the existence and aim to accomplishment for
customers, investors, and other stakeholders. - CORRECT ANSWER✅✅✅mission statement
brief inspirational expression of what company aspires to be - CORRECT ANSWER✅✅✅vision
statement
economic slowdown is a _______ factor - CORRECT ANSWER✅✅✅external; impossible to affect
SWOT analysis (internal)
the comparing processes and performance data from other companies- common approach to setting
standards - CORRECT ANSWER✅✅✅benchmarking
function of MGT: developing strategies, establishing goals, &objectives are translated to action plan -
CORRECT ANSWER✅✅✅planning
lowest level of mgt hierarchy.
- supervise operating employees and implement plans set by higher mgt. - CORRECT
ANSWER✅✅✅first- line managers
, bus. goals should be ________ to be effective - CORRECT ANSWER✅✅✅measurable
shared set of values and norms supporting mgt sys.; guides mgt. and employee behavior - CORRECT
ANSWER✅✅✅organizational culture
1st step in decision making process - CORRECT ANSWER✅✅✅recognize and define problem
arranging resources for organizational plans to proceed;
- function of managers - CORRECT ANSWER✅✅✅organizing
4 management functions - CORRECT ANSWER✅✅✅planning, organizing, leading, and controlling.
goals and objectives should be ? - CORRECT ANSWER✅✅✅SMART: specific measurable, attainable,
relevant, and time limited.
negative internal factos inhibiting company success; obsolete facilities, inadequate financial resources to
fund growth, lack in managerial depth and talent - CORRECT ANSWER✅✅✅weaknesses
objective - CORRECT ANSWER✅✅✅specific, short range target to help reach that goal.
the ability and knowledge to perform mechanics of a particular job. - CORRECT
ANSWER✅✅✅technical skills
norms - CORRECT ANSWER✅✅✅informal conduct standards guiding team behavior
defined pathway for authority Flow from one mgt level to next - CORRECT ANSWER✅✅✅chain of
command
teams improve ______ and _____ - CORRECT ANSWER✅✅✅flexibility and responsiveness
ANSWERS
strategic - CORRECT ANSWER✅✅✅plans outline the firms long range organizations gals and set.a
course of action the firm will pursue to reach its goals.
the ability to prepare a formal profit and loss statement - CORRECT ANSWER✅✅✅ex. of managerial
technical skils
measure of closely a product conforms to predetermined standards and customer expectations -
CORRECT ANSWER✅✅✅quality
a broad, long term accomplishment an organization wants to achieve - CORRECT ANSWER✅✅✅goal
brief statement of organization's operations goals; such as the existence and aim to accomplishment for
customers, investors, and other stakeholders. - CORRECT ANSWER✅✅✅mission statement
brief inspirational expression of what company aspires to be - CORRECT ANSWER✅✅✅vision
statement
economic slowdown is a _______ factor - CORRECT ANSWER✅✅✅external; impossible to affect
SWOT analysis (internal)
the comparing processes and performance data from other companies- common approach to setting
standards - CORRECT ANSWER✅✅✅benchmarking
function of MGT: developing strategies, establishing goals, &objectives are translated to action plan -
CORRECT ANSWER✅✅✅planning
lowest level of mgt hierarchy.
- supervise operating employees and implement plans set by higher mgt. - CORRECT
ANSWER✅✅✅first- line managers
, bus. goals should be ________ to be effective - CORRECT ANSWER✅✅✅measurable
shared set of values and norms supporting mgt sys.; guides mgt. and employee behavior - CORRECT
ANSWER✅✅✅organizational culture
1st step in decision making process - CORRECT ANSWER✅✅✅recognize and define problem
arranging resources for organizational plans to proceed;
- function of managers - CORRECT ANSWER✅✅✅organizing
4 management functions - CORRECT ANSWER✅✅✅planning, organizing, leading, and controlling.
goals and objectives should be ? - CORRECT ANSWER✅✅✅SMART: specific measurable, attainable,
relevant, and time limited.
negative internal factos inhibiting company success; obsolete facilities, inadequate financial resources to
fund growth, lack in managerial depth and talent - CORRECT ANSWER✅✅✅weaknesses
objective - CORRECT ANSWER✅✅✅specific, short range target to help reach that goal.
the ability and knowledge to perform mechanics of a particular job. - CORRECT
ANSWER✅✅✅technical skills
norms - CORRECT ANSWER✅✅✅informal conduct standards guiding team behavior
defined pathway for authority Flow from one mgt level to next - CORRECT ANSWER✅✅✅chain of
command
teams improve ______ and _____ - CORRECT ANSWER✅✅✅flexibility and responsiveness
