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MGT Test #1 Chapters 1,2,3 Questions and Answers 2024( A+ GRADED 100% VERIFIED).
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MGT Test #1 Chapters 1,2,3 Questions and Answers 2024( A+ GRADED 100% VERIFIED).
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MGT Test #1 Chapters 1,2,3Discuss the relationship between "efficiency" and "effectiveness" and identify real organizations
you think are, or are not, efficient and/or effective. - ANS Efficiency is the measure of how
productively resources are used to achieve a goal.
Effectiveness is the measure of the appropriateness of the goals an organization is pursuing
and the degree to which they are achieved.
i. Amazon is both efficient and effective which can be seen through their high revenue, high
profitability, and market leadership.
What are the benefits of studying management? - ANS Learning how to effectively and
efficiently achieve organizational goals through the integration of workers.
The Planning Process - ANS Planning is identifying and selecting appropriate goals
i. Deciding which goals the organization will pursue
ii. Deciding what courses of action to adopt to attain those goals
iii. Deciding how to allocate organizational resources
Discuss the four principal managerial tasks. For each, give a realistic business example of how
a manager performs this task. - ANS a. Planning: choose appropriate organizational goals and
courses of action to best achieve those goals
b. Controlling: Establish accurate measuring and monitoring systems to evaluate how well the
organization has achieved its goals
c. Leading: Motivate, coordinate, and energize individuals and groups to work together to
achieve organizational goals
d. Organizing: Establish task and authority relationships that allow people to work together to
achieve organizational goals.
Identify three levels of management and explain the basic responsibilities of each. - ANS
1)First-Line Managers (supervisors): Responsible for the daily supervision of the
non-managerial employees who perform the specific activities necessary to product goods and
services
2)Middle Managers: Responsible for finding the best way to use resources to achieve
organizational goals. They also supervise first-line managers.
3)Top Managers: They are responsible for the performance of all departments and decide how
different departments should interact. They establish organizational goals and monitor how well
middle managers utilize resources to achieve the goals.
Identify and briefly define the three major types of managerial skills that managers need. - ANS
1)Conceptual Skills: The ability to analyze and diagnose a situation and distinguish between
, cause and effect. Top managers require outstanding conceptual skills because their primary
responsibilities are planning and organizing.
2)Human Skills: The ability to understand, alter, lead, and control the behavior of other
individuals and groups. All levels of managers strive to continuously hone and improve their
human skills.
3)Technical Skills: Job-specific skills required to perform a particular type of work or occupation
at a high level. The technical skills required by managers are dependent upon their position
within the organization.
What are the building blocks of competitive advantage? Why is obtaining a competitive
advantage important to managers? - ANS Your organization needs to have core competency
(the specific set of departmental skills, knowledge, and experience that allows one organization
to outperform its competitors). A major source of competitive advantage is producing products at
a lower cost than competitors and innovating new products at a faster rate than competitors.
This is important to managers because they need to perform efficiently and effectively.
*Efficiency, Innovation, Quality, and Responsiveness from customers*
Discuss the importance of a manager having technical skills? - ANS a. It is very important that
managers have the technical skills required for their job. These skills are the ones used daily to
perform the tasks that are mandated by that job. If the manager is unable to do their job
effectively and efficiently to achieve the organizational goals then they will not excel in their job.
"Restructuring" is a popular management technique in recent business experience within the
United States. Define this term. Discuss both its positive and negative effects on the business
that is restructured. - ANS Downsizes an organization by eliminating the jobs of large numbers
of top, middle, and first-line managers and nonmanagerial employees. This can be done by
eliminating product teams, shrinking departments, and reducing levels in the hierarchy.
Define the two major trends of empowerment and self-managed work teams, and give a realistic
business example of each of these - ANS Empowerment - the expansion of employees'
knowledge, tasks, and decision making responsibilities (John Deere → the employees who
possess knowledge about how Deere products work and their managers realized they could
become successful salespeople if given training, while they explain to customers how to use the
products they collect info that helps John Deere develop new products). Self-managed team is a
group of employees who assume responsibility for organizing, controlling, and supervising, their
own activities and monitoring the quality of the goods and services they provide.
Define scientific management and discuss any two of these four principles and explain how
each of them could be applied to workers in an automobile assembly line. What are the benefits
of studying management? - ANS Scientific Management- The systematic study of the
relationships between people and tasks for the purpose of redesigning the work process to
increase efficiencyi.
Identify best practices: Scientifically study each part of the task
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