WGU C201 BUSINESS ACUMEN
What is Management? - correct anwersManagement is the process of achieving Organizational
objectives through people and other resources. The Manager's job is to combine Human and
Technical resources in the best way possible to achieve the company's goals.
How do the jobs of top managers, middle managers, and supervisory managers differ? - correct
anwersTop managers design long term plans, set a direction for their organization and inspire all
employees to achieve the company's vision. Middle managers focus on the specific mission and
operations, products, or customers. They develop procedures to implement the company's
strategic plans. Supervisory interact directly with non-management employees, who produce
and sell the companies goods and services. They are responsible for implementing the plans
developed by middle managers and motivating workers to accomplish daily, weekly, and
monthly goals.
What is the relationship between the managers planning and controlling functions? - correct
anwersControlling assess the success of the planning function. Controlling also produces
feedback for the next round of planning.
What is meant by a vision for the company? - correct anwersA vision serves as a target for the
company's actions, helping direct the company towards opportunities and differentiating it from
its competitors.
Why is it important for a top executive to set high ethical standards? - correct anwersHigh
ethical standards often result in a stable workforce, job satisfaction, and customer loyalty.
Outline the planning process. - correct anwersSome plans are very broad and long range,
focusing on key organizational objectives; others are more detailed and specify how particular
objectives will be achieved. From the mission statement to objectives to specific plans, each
phase must fit into comprehensive planning framework.
Describe the purpose of tactical planning. - correct anwersThe purpose of tactical planning is to
determine which short-term activities should be implemented to accomplish the companies
overall strategy.
Compare the kinds of plans made by top managers and middle managers. - correct anwersTop
managers focus on long-range, strategic plans. In contrast, middle-level managers focus on short
term tactical planning.
, What is the purpose of a mission statement? - correct anwersA mission statement is a
companies written explanation of its purpose, the reason it exists, the customers it will serve,
and how it is different from its competitors. A mission statement guides the actions of its
company, managers, and employees.
Which of a company's characteristics does a SWOT analysis compare? - correct anwersStrength,
Weaknesses, Opportunities and Threats Compared to its competitors.
How do managers use objectives? - correct anwersObjectives set guideposts by which managers
define the organizations desired performance in such areas as new product development, sales,
customer service, and employee satisfaction.
Distinguish between programmed and nonprogrammed decisions. - correct anwersProgrammed
decisions are like ordering office supplies, simple and happen frequently- they are streamlined.
Non-programmed are like entering a new market or launching a new product- they require
more individual evaluation.
What are they steps in the decision-making process? - correct anwersRecognition of problem or
opportunity, development of alternatives, evaluation of alternatives, selection and
implementation of chosen alternative, and follow up to determine the effectiveness of the
decision.
How is leadership defined? - correct anwersLeadership means directing or inspiring people to
attain certain organizational goals. Effective leaders share several traits, such as empathy, self-
awareness, and objectivity. Leaders also use the power of their job, expertise, and experience to
influence people.
Identify the styles of leadership as they appear along a continuum of greater or lesser employee
participation. - correct anwersOne end of the continuum Autocratic leaders makes decisions
without consulting the employees. In the middle democratic leaders ask for suggestions and
want participation. At the end is free-rein which leaders leave most of the decisions to the
employees.
What is the relationship between leadership style and corporate culture? - correct anwersThe
best leadership style to adopt often depends on the organizations corporate culture and its
system of principals, beliefs, and values. Managerial philosophies, communications, networks,
and workplace environment, and practices all influence culture.
How do managers reinforce corporate culture? - correct anwersManagers use symbols, rituals,
ceremonies, and stories to reinforce corporate culture.
What is the purpose of an organizational chart? - correct anwersA visual representation of a
company's structure that illustrates the job positions and functions.
What is Management? - correct anwersManagement is the process of achieving Organizational
objectives through people and other resources. The Manager's job is to combine Human and
Technical resources in the best way possible to achieve the company's goals.
How do the jobs of top managers, middle managers, and supervisory managers differ? - correct
anwersTop managers design long term plans, set a direction for their organization and inspire all
employees to achieve the company's vision. Middle managers focus on the specific mission and
operations, products, or customers. They develop procedures to implement the company's
strategic plans. Supervisory interact directly with non-management employees, who produce
and sell the companies goods and services. They are responsible for implementing the plans
developed by middle managers and motivating workers to accomplish daily, weekly, and
monthly goals.
What is the relationship between the managers planning and controlling functions? - correct
anwersControlling assess the success of the planning function. Controlling also produces
feedback for the next round of planning.
What is meant by a vision for the company? - correct anwersA vision serves as a target for the
company's actions, helping direct the company towards opportunities and differentiating it from
its competitors.
Why is it important for a top executive to set high ethical standards? - correct anwersHigh
ethical standards often result in a stable workforce, job satisfaction, and customer loyalty.
Outline the planning process. - correct anwersSome plans are very broad and long range,
focusing on key organizational objectives; others are more detailed and specify how particular
objectives will be achieved. From the mission statement to objectives to specific plans, each
phase must fit into comprehensive planning framework.
Describe the purpose of tactical planning. - correct anwersThe purpose of tactical planning is to
determine which short-term activities should be implemented to accomplish the companies
overall strategy.
Compare the kinds of plans made by top managers and middle managers. - correct anwersTop
managers focus on long-range, strategic plans. In contrast, middle-level managers focus on short
term tactical planning.
, What is the purpose of a mission statement? - correct anwersA mission statement is a
companies written explanation of its purpose, the reason it exists, the customers it will serve,
and how it is different from its competitors. A mission statement guides the actions of its
company, managers, and employees.
Which of a company's characteristics does a SWOT analysis compare? - correct anwersStrength,
Weaknesses, Opportunities and Threats Compared to its competitors.
How do managers use objectives? - correct anwersObjectives set guideposts by which managers
define the organizations desired performance in such areas as new product development, sales,
customer service, and employee satisfaction.
Distinguish between programmed and nonprogrammed decisions. - correct anwersProgrammed
decisions are like ordering office supplies, simple and happen frequently- they are streamlined.
Non-programmed are like entering a new market or launching a new product- they require
more individual evaluation.
What are they steps in the decision-making process? - correct anwersRecognition of problem or
opportunity, development of alternatives, evaluation of alternatives, selection and
implementation of chosen alternative, and follow up to determine the effectiveness of the
decision.
How is leadership defined? - correct anwersLeadership means directing or inspiring people to
attain certain organizational goals. Effective leaders share several traits, such as empathy, self-
awareness, and objectivity. Leaders also use the power of their job, expertise, and experience to
influence people.
Identify the styles of leadership as they appear along a continuum of greater or lesser employee
participation. - correct anwersOne end of the continuum Autocratic leaders makes decisions
without consulting the employees. In the middle democratic leaders ask for suggestions and
want participation. At the end is free-rein which leaders leave most of the decisions to the
employees.
What is the relationship between leadership style and corporate culture? - correct anwersThe
best leadership style to adopt often depends on the organizations corporate culture and its
system of principals, beliefs, and values. Managerial philosophies, communications, networks,
and workplace environment, and practices all influence culture.
How do managers reinforce corporate culture? - correct anwersManagers use symbols, rituals,
ceremonies, and stories to reinforce corporate culture.
What is the purpose of an organizational chart? - correct anwersA visual representation of a
company's structure that illustrates the job positions and functions.
