C201 BUSINESS ACUMEN QUESTIONS & ANSWERS
Giving employees authority and responsibility to make decisions about their work. -
Answers -Empowerment
Managerial process of assigning work to employees. - Answers -Delegation
Process of anticipating future events and conditions and determining courses of action
for achieving organizational objectives. - Answers -Planning
Guideposts by which managers define the organization's desired performance in such
areas as new-product development, sales, customer service, growth, environmental and
social responsibility, and employee satisfaction. - Answers -Objectives
Function of evaluating an organization's performance against its objectives. - Answers
-Controlling
Written explanation of an organization's business intentions and aims. - Answers -
Mission statement
Ability to direct or inspire people to attain certain goals. - Answers -Leadership
Organization's system of principles, beliefs, and values. - Answers -Corporate culture
SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. By
systematically evaluating all four of these factors, a firm can then develop the best
strategies for gaining a competitive advantage. - Answers -SWOT analysis
Ability to perceive marketplace needs and what an organization must do to satisfy them.
- Answers -Vision
Process of recognizing a problem or opportunity, evaluating alternative solutions,
selecting and implementing an alternative, and assessing the results. - Answers -
Decision making
Process of dividing work activities into units within the organization. - Answers -
Departmentalization
Process of achieving organizational objectives through people and other resources. -
Answers -Management
Guiding and motivating employees to accomplish organizational objectives. - Answers
-Directing
Process of blending human and material resources through a formal structure of tasks
and authority; arranging work, dividing tasks among employees, and coordinating them
, to ensure implementation of plans and accomplishment of objectives. - Answers -
Organizing
Structured group of people working together to achieve common goals. - Answers -
Organization
During the organizing process, when do managers assign activities to employees and
allocate required resources? - Answers -After grouping work activities and tasks into a
logical structure
A garment manufacturer has different departments for pattern making, cutting, stitching,
and finishing.
Which type of departmentalization has this company used to divide work activities? -
Answers -Process departmentalization
Which level of management focuses on long-term planning in an organization? -
Answers -Top management
Which organizational structure utilizes a project management design? - Answers -
Matrix organization
What should managers do to create an effective organizational structure? - Answers -
Establish clear expectations for employees
A grocery chain authorizes its store managers to hire staff, organize promotional events,
and make decisions such as issuing store credit and processing refunds to prevent the
escalation of complaints. It also ensures that its sales staff is well equipped to address
most customer queries without deferring to the store manager.
Which characteristic does the grocery chain emphasize in its organizational structure in
this scenario? - Answers -Decentralization
Which managerial skill helps managers view their organization as a unified whole? -
Answers -Conceptual
Computer-based production planning system that lets a company ensure that it has all
the parts and materials it needs to produce its output at the right time and place and in
the right amounts. - Answers -Materials requirement planning (MRP)
A system for manufacturing products in large quantities through effective combinations
of employees, with specialized skills, mechanization, and standardization. - Answers -
Mass production
Giving employees authority and responsibility to make decisions about their work. -
Answers -Empowerment
Managerial process of assigning work to employees. - Answers -Delegation
Process of anticipating future events and conditions and determining courses of action
for achieving organizational objectives. - Answers -Planning
Guideposts by which managers define the organization's desired performance in such
areas as new-product development, sales, customer service, growth, environmental and
social responsibility, and employee satisfaction. - Answers -Objectives
Function of evaluating an organization's performance against its objectives. - Answers
-Controlling
Written explanation of an organization's business intentions and aims. - Answers -
Mission statement
Ability to direct or inspire people to attain certain goals. - Answers -Leadership
Organization's system of principles, beliefs, and values. - Answers -Corporate culture
SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. By
systematically evaluating all four of these factors, a firm can then develop the best
strategies for gaining a competitive advantage. - Answers -SWOT analysis
Ability to perceive marketplace needs and what an organization must do to satisfy them.
- Answers -Vision
Process of recognizing a problem or opportunity, evaluating alternative solutions,
selecting and implementing an alternative, and assessing the results. - Answers -
Decision making
Process of dividing work activities into units within the organization. - Answers -
Departmentalization
Process of achieving organizational objectives through people and other resources. -
Answers -Management
Guiding and motivating employees to accomplish organizational objectives. - Answers
-Directing
Process of blending human and material resources through a formal structure of tasks
and authority; arranging work, dividing tasks among employees, and coordinating them
, to ensure implementation of plans and accomplishment of objectives. - Answers -
Organizing
Structured group of people working together to achieve common goals. - Answers -
Organization
During the organizing process, when do managers assign activities to employees and
allocate required resources? - Answers -After grouping work activities and tasks into a
logical structure
A garment manufacturer has different departments for pattern making, cutting, stitching,
and finishing.
Which type of departmentalization has this company used to divide work activities? -
Answers -Process departmentalization
Which level of management focuses on long-term planning in an organization? -
Answers -Top management
Which organizational structure utilizes a project management design? - Answers -
Matrix organization
What should managers do to create an effective organizational structure? - Answers -
Establish clear expectations for employees
A grocery chain authorizes its store managers to hire staff, organize promotional events,
and make decisions such as issuing store credit and processing refunds to prevent the
escalation of complaints. It also ensures that its sales staff is well equipped to address
most customer queries without deferring to the store manager.
Which characteristic does the grocery chain emphasize in its organizational structure in
this scenario? - Answers -Decentralization
Which managerial skill helps managers view their organization as a unified whole? -
Answers -Conceptual
Computer-based production planning system that lets a company ensure that it has all
the parts and materials it needs to produce its output at the right time and place and in
the right amounts. - Answers -Materials requirement planning (MRP)
A system for manufacturing products in large quantities through effective combinations
of employees, with specialized skills, mechanization, and standardization. - Answers -
Mass production
