BUSINESS NOTES CHAPTERS 7-9
EXAM QUESTIONS AND ANSWERS
Management 3rt- 3rtANSWERS--The 3rtprocess 3rtused 3rtto 3rtaccomplish 3rtorganizational
3rtgoals 3rtthrough 3rtplanning, 3rtorganizing, 3rtleading, 3rtand 3rtcontrolling
Controling 3rt- 3rtANSWERS--Observation 3rtand 3rtfollow 3rtup 3rtleading 3rtto: 3rtaffrimation,
3rtcoaching, 3rtrevision/training
Planning 3rt- 3rtANSWERS--Setting 3rtthe 3rtorganizations 3rtvisions, 3rtgoals, 3rtand
3rtobjectives
Vision 3rt- 3rtANSWERS--More 3rtthan 3rta 3rtgoal; 3rtan 3rtecompassing 3rtexplanation 3rtof
3rtwhy 3rtthe 3rtorganization 3rtexists 3rtand 3rtwhere 3rtit 3rtis 3rttrying 3rtto 3rtgo
Goals 3rt- 3rtANSWERS--The 3rtbroad, 3rtlong-term 3rtaccomplishments 3rtan 3rtorganization
3rtwishes 3rtto 3rtattain
Objectives 3rt- 3rtANSWERS--Specific, 3rtshort-term 3rtstatements 3rtdetailing 3rthow 3rtto
3rtachieve 3rtthe 3rtorganization's 3rtgoals
SMART 3rt- 3rtANSWERS--Specific, 3rtMeasurable, 3rtAttainable, 3rtRealistic/relevant,
3rtTimely
mission 3rtstatement 3rt- 3rtANSWERS--an 3rtoutline 3rtof 3rtthe 3rtfundamental 3rtpurposes 3rtof
3rtan 3rtorganization
SWOT 3rtanalysis 3rt- 3rtANSWERS--strengths, 3rtweaknesses, 3rtopportunities, 3rtthreats
technical 3rtskills 3rt- 3rtANSWERS--the 3rtability 3rtto 3rtperform 3rttasks 3rtin 3rta 3rtspecific
3rtdiscipline 3rtor 3rtdepartment
Human 3rtRelations 3rtSkills 3rt- 3rtANSWERS--communication 3rtand 3rtmotivation; 3rtthey
3rtenable 3rtmanagers 3rtto 3rtwork 3rtthrough 3rtand 3rtwith 3rtpeople
Conceptual 3rtSkills 3rt- 3rtANSWERS--The 3rtability 3rtto 3rtpicture 3rtthe 3rtorganization 3rtas 3rta
3rtwhole 3rtand 3rtthe 3rtrelationship 3rtamong 3rtits 3rtvarious 3rtparts.
Staffing 3rt- 3rtANSWERS--hiring, 3rtmotivating, 3rtand 3rtretaining 3rtthe 3rtbest 3rtpeople
3rtavailable 3rtto 3rtaccomplish 3rtthe 3rtcompany's 3rtobjectives
transparency 3rt- 3rtANSWERS--the 3rtpresentation 3rtof 3rta 3rtcompany's 3rtfacts 3rtand
3rtfigures 3rtin 3rta 3rtway 3rtthat 3rtis 3rtclear 3rtand 3rtapparent 3rtto 3rtall 3rtstakeholders
, Empowerment 3rt- 3rtANSWERS--Progressive 3rtleaders 3rtgive 3rtemployees 3rtthe
3rtauthority 3rtto 3rtmake 3rtdecisions 3rton 3rttheir 3rtown 3rtwithout 3rtconsulting 3rta 3rtmanager.
Autocratic 3rtLeadership 3rt- 3rtANSWERS--making 3rtmanagerial 3rtdecisions 3rtwithout
3rtconsulting 3rtothers
Participative 3rtor 3rtDemocratic 3rtLeadership 3rt- 3rtANSWERS--managers 3rtand
3rtemployees 3rtwork 3rttogether 3rtto 3rtmake 3rtdecisions
free-rein 3rtleadership 3rt- 3rtANSWERS--managers 3rtset 3rtobjectives 3rtand 3rtemployees
3rtare 3rtfree 3rtto 3rtdo 3rtwhatever 3rtis 3rtappropriate 3rtto 3rtaccomplish 3rtthose 3rtobjectives
enabling 3rt- 3rtANSWERS--giving 3rtworkers 3rtthe 3rteducation 3rtand 3rttools 3rtthey 3rtneed
3rtto 3rtmake 3rtdecisions
Knowledge 3rtManagement 3rt- 3rtANSWERS--finding 3rtthe 3rtright 3rtinformation, 3rtkeeping
3rtthe 3rtinformation 3rtin 3rta 3rtreadily 3rtaccessible 3rtplace, 3rtand 3rtmaking 3rtthe 3rtinformation
3rtknown 3rtto 3rteveryone 3rtin 3rtthe 3rtfirm
External 3rtCustomers 3rt- 3rtANSWERS--dealers, 3rtwho 3rtbuy 3rtproducts 3rtto 3rtsell 3rtto
3rtothers, 3rtand 3rtultimate 3rtcustomers 3rt(or 3rtend 3rtusers), 3rtwho 3rtbuy 3rtproducts 3rtfor
3rttheir 3rtown 3rtpersonal 3rtuse
Internal 3rtcustomers 3rt- 3rtANSWERS--individuals 3rtand 3rtunits 3rtwithin 3rtthe 3rtfirm 3rtthat
3rtreceive 3rtservices 3rtfrom 3rtother 3rtindividuals 3rtor 3rtunits
silo 3rt- 3rtANSWERS--advertising, 3rtmarketing, 3rtsales 3rt- 3rtall 3rtsplit 3rtup 3rtand 3rtnot
3rtcooperated 3rton 3rttogether. 3rteach 3rtperson 3rtwith 3rttheir 3rtown 3rttast 3rtonly 3rtworries
3rtabout 3rttheir 3rtown 3rttask
economies 3rtof 3rtsale 3rt- 3rtANSWERS--Companies 3rtcan 3rtreduce 3rttheir 3rtproduction
3rtcosts 3rtby 3rtpurchasing 3rtraw 3rtmaterials 3rtin 3rtbulk.
hierarchy 3rt- 3rtANSWERS--a 3rtsystem 3rtor 3rtorganization 3rtin 3rtwhich 3rtone 3rtperson 3rtis
3rtat 3rtthe 3rttop 3rtof 3rtan 3rtorganization 3rtand 3rtthere 3rtis 3rta 3rtranked 3rtor 3rtsequential 3rtsytem
3rtordering 3rtfrom 3rtthe 3rttop 3rtdown
chain 3rtof 3rtcommand 3rt- 3rtANSWERS--the 3rtline 3rtof 3rtauthority 3rtthat 3rtmoves 3rtfrom 3rtthe
3rttop 3rtof 3rta 3rthierarchy 3rtto 3rtthe 3rtlowest 3rtlevel
organization 3rtchart 3rt- 3rtANSWERS--A 3rtvisual 3rtdevice 3rtthat 3rtshows 3rtrelationships
3rtamong 3rtpeople 3rtand 3rtdivides 3rtthe 3rtorganization's 3rtwork; 3rtit 3rtshows 3rtwho 3rtreports
3rtto 3rtwhom.
Bureaucracy 3rt- 3rtANSWERS--An 3rtorganization 3rtwith 3rtmany 3rtlayers 3rtof 3rtmanagers
3rtwho 3rtset 3rtrules 3rtand 3rtregulations 3rtand 3rtoversee 3rtall 3rtdecisions.
centralized 3rtauthority 3rt- 3rtANSWERS--When 3rtdecision-making 3rtauthority 3rtis
3rtmaintained 3rtat 3rtthe 3rttop 3rtlevel 3rtof 3rtmanagement 3rtat 3rtthe 3rtcompany's
3rtheadquarters.
EXAM QUESTIONS AND ANSWERS
Management 3rt- 3rtANSWERS--The 3rtprocess 3rtused 3rtto 3rtaccomplish 3rtorganizational
3rtgoals 3rtthrough 3rtplanning, 3rtorganizing, 3rtleading, 3rtand 3rtcontrolling
Controling 3rt- 3rtANSWERS--Observation 3rtand 3rtfollow 3rtup 3rtleading 3rtto: 3rtaffrimation,
3rtcoaching, 3rtrevision/training
Planning 3rt- 3rtANSWERS--Setting 3rtthe 3rtorganizations 3rtvisions, 3rtgoals, 3rtand
3rtobjectives
Vision 3rt- 3rtANSWERS--More 3rtthan 3rta 3rtgoal; 3rtan 3rtecompassing 3rtexplanation 3rtof
3rtwhy 3rtthe 3rtorganization 3rtexists 3rtand 3rtwhere 3rtit 3rtis 3rttrying 3rtto 3rtgo
Goals 3rt- 3rtANSWERS--The 3rtbroad, 3rtlong-term 3rtaccomplishments 3rtan 3rtorganization
3rtwishes 3rtto 3rtattain
Objectives 3rt- 3rtANSWERS--Specific, 3rtshort-term 3rtstatements 3rtdetailing 3rthow 3rtto
3rtachieve 3rtthe 3rtorganization's 3rtgoals
SMART 3rt- 3rtANSWERS--Specific, 3rtMeasurable, 3rtAttainable, 3rtRealistic/relevant,
3rtTimely
mission 3rtstatement 3rt- 3rtANSWERS--an 3rtoutline 3rtof 3rtthe 3rtfundamental 3rtpurposes 3rtof
3rtan 3rtorganization
SWOT 3rtanalysis 3rt- 3rtANSWERS--strengths, 3rtweaknesses, 3rtopportunities, 3rtthreats
technical 3rtskills 3rt- 3rtANSWERS--the 3rtability 3rtto 3rtperform 3rttasks 3rtin 3rta 3rtspecific
3rtdiscipline 3rtor 3rtdepartment
Human 3rtRelations 3rtSkills 3rt- 3rtANSWERS--communication 3rtand 3rtmotivation; 3rtthey
3rtenable 3rtmanagers 3rtto 3rtwork 3rtthrough 3rtand 3rtwith 3rtpeople
Conceptual 3rtSkills 3rt- 3rtANSWERS--The 3rtability 3rtto 3rtpicture 3rtthe 3rtorganization 3rtas 3rta
3rtwhole 3rtand 3rtthe 3rtrelationship 3rtamong 3rtits 3rtvarious 3rtparts.
Staffing 3rt- 3rtANSWERS--hiring, 3rtmotivating, 3rtand 3rtretaining 3rtthe 3rtbest 3rtpeople
3rtavailable 3rtto 3rtaccomplish 3rtthe 3rtcompany's 3rtobjectives
transparency 3rt- 3rtANSWERS--the 3rtpresentation 3rtof 3rta 3rtcompany's 3rtfacts 3rtand
3rtfigures 3rtin 3rta 3rtway 3rtthat 3rtis 3rtclear 3rtand 3rtapparent 3rtto 3rtall 3rtstakeholders
, Empowerment 3rt- 3rtANSWERS--Progressive 3rtleaders 3rtgive 3rtemployees 3rtthe
3rtauthority 3rtto 3rtmake 3rtdecisions 3rton 3rttheir 3rtown 3rtwithout 3rtconsulting 3rta 3rtmanager.
Autocratic 3rtLeadership 3rt- 3rtANSWERS--making 3rtmanagerial 3rtdecisions 3rtwithout
3rtconsulting 3rtothers
Participative 3rtor 3rtDemocratic 3rtLeadership 3rt- 3rtANSWERS--managers 3rtand
3rtemployees 3rtwork 3rttogether 3rtto 3rtmake 3rtdecisions
free-rein 3rtleadership 3rt- 3rtANSWERS--managers 3rtset 3rtobjectives 3rtand 3rtemployees
3rtare 3rtfree 3rtto 3rtdo 3rtwhatever 3rtis 3rtappropriate 3rtto 3rtaccomplish 3rtthose 3rtobjectives
enabling 3rt- 3rtANSWERS--giving 3rtworkers 3rtthe 3rteducation 3rtand 3rttools 3rtthey 3rtneed
3rtto 3rtmake 3rtdecisions
Knowledge 3rtManagement 3rt- 3rtANSWERS--finding 3rtthe 3rtright 3rtinformation, 3rtkeeping
3rtthe 3rtinformation 3rtin 3rta 3rtreadily 3rtaccessible 3rtplace, 3rtand 3rtmaking 3rtthe 3rtinformation
3rtknown 3rtto 3rteveryone 3rtin 3rtthe 3rtfirm
External 3rtCustomers 3rt- 3rtANSWERS--dealers, 3rtwho 3rtbuy 3rtproducts 3rtto 3rtsell 3rtto
3rtothers, 3rtand 3rtultimate 3rtcustomers 3rt(or 3rtend 3rtusers), 3rtwho 3rtbuy 3rtproducts 3rtfor
3rttheir 3rtown 3rtpersonal 3rtuse
Internal 3rtcustomers 3rt- 3rtANSWERS--individuals 3rtand 3rtunits 3rtwithin 3rtthe 3rtfirm 3rtthat
3rtreceive 3rtservices 3rtfrom 3rtother 3rtindividuals 3rtor 3rtunits
silo 3rt- 3rtANSWERS--advertising, 3rtmarketing, 3rtsales 3rt- 3rtall 3rtsplit 3rtup 3rtand 3rtnot
3rtcooperated 3rton 3rttogether. 3rteach 3rtperson 3rtwith 3rttheir 3rtown 3rttast 3rtonly 3rtworries
3rtabout 3rttheir 3rtown 3rttask
economies 3rtof 3rtsale 3rt- 3rtANSWERS--Companies 3rtcan 3rtreduce 3rttheir 3rtproduction
3rtcosts 3rtby 3rtpurchasing 3rtraw 3rtmaterials 3rtin 3rtbulk.
hierarchy 3rt- 3rtANSWERS--a 3rtsystem 3rtor 3rtorganization 3rtin 3rtwhich 3rtone 3rtperson 3rtis
3rtat 3rtthe 3rttop 3rtof 3rtan 3rtorganization 3rtand 3rtthere 3rtis 3rta 3rtranked 3rtor 3rtsequential 3rtsytem
3rtordering 3rtfrom 3rtthe 3rttop 3rtdown
chain 3rtof 3rtcommand 3rt- 3rtANSWERS--the 3rtline 3rtof 3rtauthority 3rtthat 3rtmoves 3rtfrom 3rtthe
3rttop 3rtof 3rta 3rthierarchy 3rtto 3rtthe 3rtlowest 3rtlevel
organization 3rtchart 3rt- 3rtANSWERS--A 3rtvisual 3rtdevice 3rtthat 3rtshows 3rtrelationships
3rtamong 3rtpeople 3rtand 3rtdivides 3rtthe 3rtorganization's 3rtwork; 3rtit 3rtshows 3rtwho 3rtreports
3rtto 3rtwhom.
Bureaucracy 3rt- 3rtANSWERS--An 3rtorganization 3rtwith 3rtmany 3rtlayers 3rtof 3rtmanagers
3rtwho 3rtset 3rtrules 3rtand 3rtregulations 3rtand 3rtoversee 3rtall 3rtdecisions.
centralized 3rtauthority 3rt- 3rtANSWERS--When 3rtdecision-making 3rtauthority 3rtis
3rtmaintained 3rtat 3rtthe 3rttop 3rtlevel 3rtof 3rtmanagement 3rtat 3rtthe 3rtcompany's
3rtheadquarters.
