RUTGERS INTRO TO MANAGEMENT EXAM
2026 FINAL REVIEW EXAM
◉ Core Values - Answer: -Are the beliefs, traits, and behavioral
norms that employees are expected to display in conducting the
firm's business and in pursuing its strategic vision and mission.
-Become an integral part of the firm's culture and what makes it tick
when strongly espoused and supported by top management.
-Matched with the firm's vision, mission, and strategy contributes to
the firm's success
◉ Why Set Objectives? Answer: -To convert the vision and mission
into specific, measurable, timely performance targets.
-To focus efforts and align actions throughout the organization.
-To serve as yardsticks for tracking a firm's performance and
progress.
-To provide motivation and inspire employees to greater levels of
effort.
◉ Important to Set Both... Answer: Financial & Strategic Objectives
,◉ Why Do Firms Need Both Strategic and Financial Objectives?
Answer: Good financial performance is not enough:
Current financial results are lagging indicators
Setting and achieving stretch strategic objectives signals a firm's
growth in both competitiveness and strength in the marketplace.
Good strategic performance is a leading indicator of a firm's
capability to deliver future financial performance.
◉ Stretch Objectives Answer: challenge the organization to excel
◉ Short Term & Long Term Objectives Answer: Balance Focus
◉ Objectives at All Levels... Answer: Assure organizational
Alignment and Engagement
◉ SMART objectives Answer: specific
measurable
attainable/actionable
realistic
time bound
, ◉ Strategy Making: Answer: -Addresses a series of strategic How's.
-Requires choosing among strategic alternatives.
-Promotes actions to do things differently from competitors rather
than running with the herd.
-Is a collaborative team effort that involves managers in various
positions at all organizational levels.
◉ Who Is Involved in Strategy Making? Answer: Chief Executive
Officer (CEO)
Senior Executives
Managers of subsidiaries, divisions, geographic regions, plants, and
other operating units (and key employees with specialized
expertise)
◉ Why Is Strategy-Making Often a Collaborative Process? Answer:
Complexity of Strategic Issues
Interdependencies and decentralized nature of business
Importance of Buy-In for successful implementation
2026 FINAL REVIEW EXAM
◉ Core Values - Answer: -Are the beliefs, traits, and behavioral
norms that employees are expected to display in conducting the
firm's business and in pursuing its strategic vision and mission.
-Become an integral part of the firm's culture and what makes it tick
when strongly espoused and supported by top management.
-Matched with the firm's vision, mission, and strategy contributes to
the firm's success
◉ Why Set Objectives? Answer: -To convert the vision and mission
into specific, measurable, timely performance targets.
-To focus efforts and align actions throughout the organization.
-To serve as yardsticks for tracking a firm's performance and
progress.
-To provide motivation and inspire employees to greater levels of
effort.
◉ Important to Set Both... Answer: Financial & Strategic Objectives
,◉ Why Do Firms Need Both Strategic and Financial Objectives?
Answer: Good financial performance is not enough:
Current financial results are lagging indicators
Setting and achieving stretch strategic objectives signals a firm's
growth in both competitiveness and strength in the marketplace.
Good strategic performance is a leading indicator of a firm's
capability to deliver future financial performance.
◉ Stretch Objectives Answer: challenge the organization to excel
◉ Short Term & Long Term Objectives Answer: Balance Focus
◉ Objectives at All Levels... Answer: Assure organizational
Alignment and Engagement
◉ SMART objectives Answer: specific
measurable
attainable/actionable
realistic
time bound
, ◉ Strategy Making: Answer: -Addresses a series of strategic How's.
-Requires choosing among strategic alternatives.
-Promotes actions to do things differently from competitors rather
than running with the herd.
-Is a collaborative team effort that involves managers in various
positions at all organizational levels.
◉ Who Is Involved in Strategy Making? Answer: Chief Executive
Officer (CEO)
Senior Executives
Managers of subsidiaries, divisions, geographic regions, plants, and
other operating units (and key employees with specialized
expertise)
◉ Why Is Strategy-Making Often a Collaborative Process? Answer:
Complexity of Strategic Issues
Interdependencies and decentralized nature of business
Importance of Buy-In for successful implementation
