BUS 6600 Module 2: Chapters 7 and 10
Practice Exam and Accurate Answers.
Managers today tend to be... - Answer Collaborative, emphasize teams and team building,
guide, train, support, motivate, must be globally prepared, must be skilled communicators and
team players
Name the four functions of management. - Answer planning, organizing, leading, controlling
Define management. - Answer the process used to accomplish organizational goals through
planning, organizing, leading, and controlling people and other organizational resources
Define the planning process of organizational management. - Answer a management function
that includes anticipating trends and determining the best strategies and tactics to achieve
organizational goals and objectives; setting goals
What is the key management function? - Answer Planning (you must have a good plan for all
other functions to work)
Define the organizing function of management. - Answer Designing the structure of the
organization and creating conditions and systems in which everyone and everything work
together to achieve the organization's goals and objectives
Allocating resources, assigning tasks, establishing procedures for accomplishing goals, recruiting
and selecting are all parts of which function of management? - Answer Organizing
Successful organizations today are designed around what? - Answer Pleasing the customer at
a profit
What is leading? - Answer creating a vision for the organization and guiding, training,
coaching, and motivating others to work effectively to achieve the organization's goals and
objectives in a timely manner.
Give examples of the leading function of management. - Answer Clarifying policies, guiding
and motivating, providing feedback on performance
,What is the controlling function of management? - Answer involves establishing clear
standards to determine whether or not an organization is progressing toward its goals and
objectives, rewarding people for doing a good job, and taking corrective action if they are not.
Give examples of controlling in management. - Answer Measuring results against corporate
objectives; monitoring performance relative to standards; taking corrective action when
necessary
Planning involves setting these three things. - Answer Organizational vision; goals and
objectives
Define a vision. - Answer an encompassing explanation of why the organization exists and
where it is headed; it is more than a goal.
Define a mission statement. - Answer is an outline of the fundamental purposes of the
organization.
What should a good mission statement address? - Answer i. The organization's self-concept
ii. Company philosophy
iii. Long-term survival
iv. Customer needs
v. Social responsibility
vi. The nature of the product or service
__________________ are the broad, long-term accomplishments an organization wishes to
attain. - Answer Goals
Objectives are? - Answer Specific, short-term statements detailing how to achieve the
organization's goals.
What two fundamental questions does planning address? - Answer 1. What is the situation
now?
2. How can we get there from here?
, Strengths and weaknesses are ______________ to the firm. Opportunities and threats are
____________ to the firm. - Answer Internal; external (cannot always be anticipated)
"Entry of lower-cost foreign competitors" is an example of what in SWOT analysis? - Answer
Threat
"Weak market image" is an example of what in SWOT analysis? - Answer Weakness
"Ability to serve additional customer groups" is an example of what in SWOT analysis? - Answer
Opportunity
"Core competency in key areas" is an example of what in SWOT analysis? - Answer Strength
What are the four types of planning? - Answer 1. Strategic Planning
2. Tactical Planning
3. Operational Planning
4. Contingency Planning
Define strategic planning and who is involved. - Answer Determining the major goals of the
organization and the policies and strategies for obtaining and using resources to achieve those
goals (upper-level management; executives)
Define tactical planning and who is involved. - Answer Developing detailed, short-term
statements about what is to be done, who is to do it, and how it is to be done.
Tactical planning is normally done by managers at lower levels of the organization.
An example of tactical planning is setting annual budgets.
Define policies vs. strategies - Answer Policies: Broad guidelines for action
Strategies: Determine the best way to use resources
Who decides which customers to serve, when to serve them, what products to sell and the
geographic areas in which to compete? - Answer Top-level management.
Practice Exam and Accurate Answers.
Managers today tend to be... - Answer Collaborative, emphasize teams and team building,
guide, train, support, motivate, must be globally prepared, must be skilled communicators and
team players
Name the four functions of management. - Answer planning, organizing, leading, controlling
Define management. - Answer the process used to accomplish organizational goals through
planning, organizing, leading, and controlling people and other organizational resources
Define the planning process of organizational management. - Answer a management function
that includes anticipating trends and determining the best strategies and tactics to achieve
organizational goals and objectives; setting goals
What is the key management function? - Answer Planning (you must have a good plan for all
other functions to work)
Define the organizing function of management. - Answer Designing the structure of the
organization and creating conditions and systems in which everyone and everything work
together to achieve the organization's goals and objectives
Allocating resources, assigning tasks, establishing procedures for accomplishing goals, recruiting
and selecting are all parts of which function of management? - Answer Organizing
Successful organizations today are designed around what? - Answer Pleasing the customer at
a profit
What is leading? - Answer creating a vision for the organization and guiding, training,
coaching, and motivating others to work effectively to achieve the organization's goals and
objectives in a timely manner.
Give examples of the leading function of management. - Answer Clarifying policies, guiding
and motivating, providing feedback on performance
,What is the controlling function of management? - Answer involves establishing clear
standards to determine whether or not an organization is progressing toward its goals and
objectives, rewarding people for doing a good job, and taking corrective action if they are not.
Give examples of controlling in management. - Answer Measuring results against corporate
objectives; monitoring performance relative to standards; taking corrective action when
necessary
Planning involves setting these three things. - Answer Organizational vision; goals and
objectives
Define a vision. - Answer an encompassing explanation of why the organization exists and
where it is headed; it is more than a goal.
Define a mission statement. - Answer is an outline of the fundamental purposes of the
organization.
What should a good mission statement address? - Answer i. The organization's self-concept
ii. Company philosophy
iii. Long-term survival
iv. Customer needs
v. Social responsibility
vi. The nature of the product or service
__________________ are the broad, long-term accomplishments an organization wishes to
attain. - Answer Goals
Objectives are? - Answer Specific, short-term statements detailing how to achieve the
organization's goals.
What two fundamental questions does planning address? - Answer 1. What is the situation
now?
2. How can we get there from here?
, Strengths and weaknesses are ______________ to the firm. Opportunities and threats are
____________ to the firm. - Answer Internal; external (cannot always be anticipated)
"Entry of lower-cost foreign competitors" is an example of what in SWOT analysis? - Answer
Threat
"Weak market image" is an example of what in SWOT analysis? - Answer Weakness
"Ability to serve additional customer groups" is an example of what in SWOT analysis? - Answer
Opportunity
"Core competency in key areas" is an example of what in SWOT analysis? - Answer Strength
What are the four types of planning? - Answer 1. Strategic Planning
2. Tactical Planning
3. Operational Planning
4. Contingency Planning
Define strategic planning and who is involved. - Answer Determining the major goals of the
organization and the policies and strategies for obtaining and using resources to achieve those
goals (upper-level management; executives)
Define tactical planning and who is involved. - Answer Developing detailed, short-term
statements about what is to be done, who is to do it, and how it is to be done.
Tactical planning is normally done by managers at lower levels of the organization.
An example of tactical planning is setting annual budgets.
Define policies vs. strategies - Answer Policies: Broad guidelines for action
Strategies: Determine the best way to use resources
Who decides which customers to serve, when to serve them, what products to sell and the
geographic areas in which to compete? - Answer Top-level management.
