MGMT 339 Exam Questions and Answers Already Passed Latest 2025-2026
What is management? - Answers Planning, organizing, and controlling work of others so
activities are completed effectively & efficiently to achieve organizational goals
Organizational goal - Answers -maximize profit
-become successful by surviving and growing as a company
Value - Answers Benefit/Cost = Value
Ways to deliver Value - Answers 1. Innovation
2. Quality
3. Service
4. Speed
5. Cost
6. Sustainability
Major challenges in managing the new competitive landscape? - Answers 1. Globalization: S&D
amongst other countries
2. Technological change: adapt to change in consumer taste
3. Knowledge management: find, unlock, and capitalize on unique resources
4. Collaboration across borders
Functions of Management - Answers 1. Planning
2. Organizing
3. Leading
4. Controlling
Management Levels - Top-level - Answers Senior executives responsible for overall
management and effectiveness of organization
Management Levels - Mid-level - Answers Report to top level
Management Levels - Frontline - Answers Supervise operational activities of organization
Management Skills - Answers 1. Technical Skills
2. Conceptual/Decision Skills
, 3. Interpersonal Communication Skills
4. Relationship w/ management levels
What is plamning? - Answers process of making decisions about goals and activities that they
plan to pursue in the future
Characteristics of effective goals (SMART) - Answers Specific
Measurable
Attainable
Relevant
Time-bound
Levels of Planning - Strategic - Answers Goals regarding long term survival and growth
Levels of Planning - Technical - Answers Translate strategical plans into specific goals
Levels of Planning - Operational - Answers Identify specific procedures required at lower levels
Strategic Planning Steps - 1. Mission & Vision - Answers Mission: basic purpose & scope of
operations
Vision: long term direction & strategic intent of a company
Strategic Planning Steps - 2. External Analysis (opportunity & threat) - Answers Need to know:
-competitors
-industry & market
-economy
-political & regulatory environment
-technology
-society
Strategic Planning Steps - 3. Internal Analysis (strength & weakness) - Answers Core
Competency:
-rare
-inimitable: not easily copied
What is management? - Answers Planning, organizing, and controlling work of others so
activities are completed effectively & efficiently to achieve organizational goals
Organizational goal - Answers -maximize profit
-become successful by surviving and growing as a company
Value - Answers Benefit/Cost = Value
Ways to deliver Value - Answers 1. Innovation
2. Quality
3. Service
4. Speed
5. Cost
6. Sustainability
Major challenges in managing the new competitive landscape? - Answers 1. Globalization: S&D
amongst other countries
2. Technological change: adapt to change in consumer taste
3. Knowledge management: find, unlock, and capitalize on unique resources
4. Collaboration across borders
Functions of Management - Answers 1. Planning
2. Organizing
3. Leading
4. Controlling
Management Levels - Top-level - Answers Senior executives responsible for overall
management and effectiveness of organization
Management Levels - Mid-level - Answers Report to top level
Management Levels - Frontline - Answers Supervise operational activities of organization
Management Skills - Answers 1. Technical Skills
2. Conceptual/Decision Skills
, 3. Interpersonal Communication Skills
4. Relationship w/ management levels
What is plamning? - Answers process of making decisions about goals and activities that they
plan to pursue in the future
Characteristics of effective goals (SMART) - Answers Specific
Measurable
Attainable
Relevant
Time-bound
Levels of Planning - Strategic - Answers Goals regarding long term survival and growth
Levels of Planning - Technical - Answers Translate strategical plans into specific goals
Levels of Planning - Operational - Answers Identify specific procedures required at lower levels
Strategic Planning Steps - 1. Mission & Vision - Answers Mission: basic purpose & scope of
operations
Vision: long term direction & strategic intent of a company
Strategic Planning Steps - 2. External Analysis (opportunity & threat) - Answers Need to know:
-competitors
-industry & market
-economy
-political & regulatory environment
-technology
-society
Strategic Planning Steps - 3. Internal Analysis (strength & weakness) - Answers Core
Competency:
-rare
-inimitable: not easily copied
