MGMT 309 Exam 1 questions well
answered graded A+
What is an organization? - correct answer ✔✔A group of people working together in a
structured and coordinated fashion to achieve a set of goals
Four basic kinds of organization resources - correct answer ✔✔Human
Financial
Physical
Information
Human Resources - correct answer ✔✔managerial talent and labor
Financial Resources - correct answer ✔✔The capital used by the organization to finance both
ongoing and long-term operations
Physical Resources - correct answer ✔✔Raw materials; office and production facilities, and
equipment
Information Resources - correct answer ✔✔usable data needed to make effective decisions
What is management? - correct answer ✔✔A set of activities (planning and decision making,
organizing, leading, and controlling) directed at an organization's resources (human, financial,
physical, and information) with the aim of achieving organizational goals in an efficient and
effective manner
Efficiently - correct answer ✔✔using resources wisely and in a cost-effective way
,Effectively - correct answer ✔✔Making the right decisions and successfully implementing them
What is a manger? - correct answer ✔✔Someone whose primary responsibility is to carry out
the management process ( plans and makes decisions, leads, organizes, and controls: human,
info, physical, financial resources)
Planning and Decision Making - correct answer ✔✔Determining goals and courses of action
Organizing - correct answer ✔✔Coordinating activities and resources ( how things should be
grouped)
Leading - correct answer ✔✔Motivating and managing people( get people working together)
Controlling - correct answer ✔✔monitoring progress toward goal achievement and taking
corrective action when needed
Levels of Management - correct answer ✔✔the differentiation of managers into three basic
categories-top, middle, and first-line
Top Managers - correct answer ✔✔Are the small group of executives who manage the overall
organization; create the organization's goals, overall strategy, and operating policies
Middle Managers - correct answer ✔✔are primarily responsible for implementing the policies
and plans of top managers. They also supervise and coordinate the activities of lower level
managers.
First-Line Managers - correct answer ✔✔Supervise and coordinate the activities of operating
employees
, Areas of Management - correct answer ✔✔May include marketing, financial operations, Human
Resources, administrative and other areas
Marketing Managers - correct answer ✔✔Sell the product and work in new-product
development, promotion, and distribution
Financial Managers - correct answer ✔✔Undertake accounting, cash management, and
investments
Operations Managers - correct answer ✔✔Control production, inventory, quality and plant
layout
Human Resource Management - correct answer ✔✔Hire and develop employees
Administrative Management - correct answer ✔✔Are generalists and familiar with all areas of
management (v hard)
Other Kinds of Managers - correct answer ✔✔Include public relations and research and
development
(Anybody not yet classified I.e. sales manager, social media manager, etc)
Types of Managerial Roles - correct answer ✔✔Interpersonal Roles, Informational Roles,
Decisional Roles
Interpersonal Roles - correct answer ✔✔Figurehead, Leader, and Liaison- dealing with people.
Managers interact with people inside and outside their work units.
answered graded A+
What is an organization? - correct answer ✔✔A group of people working together in a
structured and coordinated fashion to achieve a set of goals
Four basic kinds of organization resources - correct answer ✔✔Human
Financial
Physical
Information
Human Resources - correct answer ✔✔managerial talent and labor
Financial Resources - correct answer ✔✔The capital used by the organization to finance both
ongoing and long-term operations
Physical Resources - correct answer ✔✔Raw materials; office and production facilities, and
equipment
Information Resources - correct answer ✔✔usable data needed to make effective decisions
What is management? - correct answer ✔✔A set of activities (planning and decision making,
organizing, leading, and controlling) directed at an organization's resources (human, financial,
physical, and information) with the aim of achieving organizational goals in an efficient and
effective manner
Efficiently - correct answer ✔✔using resources wisely and in a cost-effective way
,Effectively - correct answer ✔✔Making the right decisions and successfully implementing them
What is a manger? - correct answer ✔✔Someone whose primary responsibility is to carry out
the management process ( plans and makes decisions, leads, organizes, and controls: human,
info, physical, financial resources)
Planning and Decision Making - correct answer ✔✔Determining goals and courses of action
Organizing - correct answer ✔✔Coordinating activities and resources ( how things should be
grouped)
Leading - correct answer ✔✔Motivating and managing people( get people working together)
Controlling - correct answer ✔✔monitoring progress toward goal achievement and taking
corrective action when needed
Levels of Management - correct answer ✔✔the differentiation of managers into three basic
categories-top, middle, and first-line
Top Managers - correct answer ✔✔Are the small group of executives who manage the overall
organization; create the organization's goals, overall strategy, and operating policies
Middle Managers - correct answer ✔✔are primarily responsible for implementing the policies
and plans of top managers. They also supervise and coordinate the activities of lower level
managers.
First-Line Managers - correct answer ✔✔Supervise and coordinate the activities of operating
employees
, Areas of Management - correct answer ✔✔May include marketing, financial operations, Human
Resources, administrative and other areas
Marketing Managers - correct answer ✔✔Sell the product and work in new-product
development, promotion, and distribution
Financial Managers - correct answer ✔✔Undertake accounting, cash management, and
investments
Operations Managers - correct answer ✔✔Control production, inventory, quality and plant
layout
Human Resource Management - correct answer ✔✔Hire and develop employees
Administrative Management - correct answer ✔✔Are generalists and familiar with all areas of
management (v hard)
Other Kinds of Managers - correct answer ✔✔Include public relations and research and
development
(Anybody not yet classified I.e. sales manager, social media manager, etc)
Types of Managerial Roles - correct answer ✔✔Interpersonal Roles, Informational Roles,
Decisional Roles
Interpersonal Roles - correct answer ✔✔Figurehead, Leader, and Liaison- dealing with people.
Managers interact with people inside and outside their work units.
