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MGT 300 Exam 1 Questions and Answers 2024( A+ GRADED 100% VERIFIED).
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MGT 300 Exam 1 Questions and Answers 2024( A+ GRADED 100% VERIFIED).
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MGT 300 Exam 1Management - ANS (1) pursuit of organizational goals efficiently and effectively by (2)
integrating the work of people through (3) planning, organizing, leading, and controlling the
organization's resources
Efficiency - ANS Use resources --people, money, raw materials, and the like wisely and cost
effectively
Effectiveness - ANS Achieve results, to make the right decisions and to successfully carry them
out so that they achieve the organization's goals
Seven challenges for being an effective manager - ANS 1. Competitive advantage - outperform
the competition
2. Managing for diversity
3. Managing for globalization
4. Managing for new information
5. Managing for ethical standards
6. Managing for sustainability
7. Managing for happiness
Four functions of management - ANS Planning, organizing, controlling, leading
Levels of management - ANS Top managers (CEO, COO, President) - Make long term
decisions about the overall direction of the organization and establish the objectives, policies,
and strategies.
Middle managers - Implement the policies and plans of the top managers above them and
supervise and coordinate the activities of the first line managers below them.
First line managers - Make short term operating decisions, directing the daily tasks of non
managerial personnel
Team leaders - A manager who is responsible for facilitating team activities toward achieving
key results
Types of managerial roles - ANS Functional manager - Responsible for just one organizational
activity
General manager - Responsible for several organizational activities
Skills and traits of managers - ANS Technical skills - job-specific knowledge needed to perform
well in a specialized field.
Conceptual skills - Ability to think analytically, to visualize an organization as a whole and
understand how the parts work together
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