RSM 100 FINAL Exam | Questions with 100%
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Terms in this set (317)
management is the process of planning, organizing, leading, and
controlling an enterprise's financial, physical,
human, and information resources achieve the
organization's goals of supplying various products
and services
effectiveness achieving the organizational goals that have been
set
efficiency achieving the greatest level of output with a given
amount
planning process of determining the firm's goal's and
developing a strategy for achieving them
Five steps
1. Establish goals for organization
2. Managers identify whether a gap exists between
the company's desire and actual position
3. Managers develop plans to reach goal
4. Plans are implemented
5. Effectiveness of plan is assessed
, prediction markets creating a market where people can buy "shares" in
various answers to important questions that need
to be answered
strategic plans set up by top management; reflect decisions about
resource allocations, company priorities, and the
steps needed to meet strategic goals
tactical plans shorter range plans concerned with implementing
specific aspects of the company's strategic plans.
Typically involve upper and middle management
operational plans plans developed by middle and lower level
managers that set short term targets for daily,
weekly, or monthly performance
organizing mobilizing the resources that are required to
complete a particular task
leading also known as directing
involves the interactions between managers and
their subordinates as they both work to meet the
firm's objectives
controlling the process of monitoring a firm's performance to
make sure that it is meetings its goals
top managers those managers responsible for a firm's overall
performance and effectiveness and for developing
long range plans for the company
middle managers those managers responsible for implementing the
decisions made by top managers
Correct Answers | Verified | Latest Update 2026
Save
Terms in this set (317)
management is the process of planning, organizing, leading, and
controlling an enterprise's financial, physical,
human, and information resources achieve the
organization's goals of supplying various products
and services
effectiveness achieving the organizational goals that have been
set
efficiency achieving the greatest level of output with a given
amount
planning process of determining the firm's goal's and
developing a strategy for achieving them
Five steps
1. Establish goals for organization
2. Managers identify whether a gap exists between
the company's desire and actual position
3. Managers develop plans to reach goal
4. Plans are implemented
5. Effectiveness of plan is assessed
, prediction markets creating a market where people can buy "shares" in
various answers to important questions that need
to be answered
strategic plans set up by top management; reflect decisions about
resource allocations, company priorities, and the
steps needed to meet strategic goals
tactical plans shorter range plans concerned with implementing
specific aspects of the company's strategic plans.
Typically involve upper and middle management
operational plans plans developed by middle and lower level
managers that set short term targets for daily,
weekly, or monthly performance
organizing mobilizing the resources that are required to
complete a particular task
leading also known as directing
involves the interactions between managers and
their subordinates as they both work to meet the
firm's objectives
controlling the process of monitoring a firm's performance to
make sure that it is meetings its goals
top managers those managers responsible for a firm's overall
performance and effectiveness and for developing
long range plans for the company
middle managers those managers responsible for implementing the
decisions made by top managers
