Business Management Exam #1 Study Guide With Correct Solution

What are the four basic management functions? - Answer Planning, Organizing, Influencing, Controlling A process/series of related activities Focused on reaching organizational goals Working with and through people and other organizational resources - Answer Management Guide organizations toward goal accomplishment Combine and use organizational resources to ensure organizations achieve their purpose Encourage individual activities are focused on reaching organizational goals Focus on activities or other factors that may get in the way of goal achievement - Answer The Role of Management Setting organizational goals Identifying actions to achieve the goals - Answer Managerial Functions: Planning Determining tasks and groupings of work Assigning tasks to individuals in the organization - Answer Managerial Functions: Organizing Working with people within organizations Guiding the activities of organization members in appropriate directions - Answer Managerial Functions: Influencing Monitoring and measuring organizational performance Determining if organization should be modified to meet pre-established standards - Answer Managerial Functions: Controlling Human Monetary Raw Materials Capital - Answer Organizational Resources When resources are used to achieve goals, managers are effective - Answer Managerial Effectiveness When resources contribute to productivity, managers are efficient - Answer Managerial Effectiveness Ability to carry out process of reaching organizational goals by working with and through people and other organizational resources Companies focus on developing managerial skills to enhance the manager's and organization's abilities to achieve goals - Answer Management Skill Technical Human Conceptual - Answer MANAGEMENT SKILL:A Classical View Ability to apply specialized knowledge and expertise to work-related procedures - Answer Technical Building cooperation with team being led - Answer Human Ability to see the organization as a whole - Answer Conceptual Senior executives responsible for the overall management and effectiveness of the organization - Answer Top-level managers Managers located in the middle layers of the organizational hierarchy, reporting to top-level executives. - Answer Middle-level managers Lower-level managers who supervise the operational activities of the organization. - Answer Frontline managers Task-Related People-Related Change-Related - Answer MANAGEMENT SKILL:A Contemporary View Efforts aimed at carrying out critical management-related duties - Answer Task-Related Efforts aimed at managing people in the organization - Answer People-Related Efforts aimed at modifying organizational components - Answer Change-Related Sequence of work-related positions occupied by a person over a period of their lifetime Management positions at one level are stepping stones to management positions in a higher level are cumulative - Answer Career Growth in proportion of men to women in management ranks seems to have changed very little in 10 years - Answer Women Equal work and shared responsibilities of spouses Whose career takes precedence? - Answer Dual-Career Couples Process of determining how an organization can get where it wants to go and what it will do to accomplish its objectives - Answer Defining Planning