BUS 110 FINAL EXAM STUDY GUIDE WITH REVISED CORRECT ANSWERS A+ ALREADY GRADED 100% PASS

BUS 110 FINAL EXAM STUDY GUIDE WITH REVISED CORRECT ANSWERS A+ ALREADY GRADED 100% PASS Management - correct answers-The process of guiding the development, maintenance, and allocation of resources to attain organizational goals. Efficiency vs. Effectiveness - correct answers-Efficiency = Using the least amount of resources to accomplish the organization's goals. Effectiveness = The ability to produce the desired result or good. Functions of Managers - correct answers-Managers are the people in the organization responsible for developing and carrying out this management process: planning, organizing, leading, controlling Planning - correct answers-The process of deciding what needs to be done to achieve organizational objectives; identifying when and how it will be done; and determining who should do it. Strategic Planning - correct answers-The process of creating long-range (one to five years), broad goals for the organization and determining what resources will be needed to accomplish those goals. Tactical Planning - correct answers-The process of beginning to implement a strategic plan by addressing issues of coordination and allocating resources to different parts of the organization; has a shorter time frame (less than one year) and more specific objectives than strategic planning