SEVI Exam 2 UPDATED ACTUAL Questions and CORRECT Answers
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Course
SEVI
Institution
SEVI
SEVI Exam 2 UPDATED ACTUAL
Questions and CORRECT Answers
Management - CORRECT ANSWER- The process of coordinating resources to achieve
the goals of an organization
Material Resources - CORRECT ANSWER- the tangible, physical resources an
organization uses
Financial Resources - CORRECT ANSWE...
SEVI Exam 2 UPDATED ACTUAL
Questions and CORRECT Answers
Management - CORRECT ANSWER- ✔✔The process of coordinating resources to achieve
the goals of an organization
Material Resources - CORRECT ANSWER- ✔✔the tangible, physical resources an
organization uses
Financial Resources - CORRECT ANSWER- ✔✔the funds an organization uses to meet its
obligations to investors and creditors
Informational Resources - CORRECT ANSWER- ✔✔the information gathered about
competitors and changes to the industry
Resource-based View (RBV) - CORRECT ANSWER- ✔✔resources that are valuable, rare,
inimitable, and non-substitutable lead to long-term success (Jay Barney)
Planning - CORRECT ANSWER- ✔✔establishing organizational goals and deciding how to
accomplish them
Mission - CORRECT ANSWER- ✔✔a statement of the basic purpose that makes an
organization different from others
Strategic Planning Process - CORRECT ANSWER- ✔✔the establishment of an
organization's major goals and objectives and the allocation of resources to achieve them
Goal - CORRECT ANSWER- ✔✔an end result that an organization is expected to achieve
over a one- to ten-year period
Objective - CORRECT ANSWER- ✔✔a specific statement detailing what an organization
intends to accomplish over a shorter period of time
, SWOT Analysis - CORRECT ANSWER- ✔✔the identification and evaluation of a firm's
strengths, weaknesses, opportunities, and threats
Core Competencies - CORRECT ANSWER- ✔✔approaches and processes that a company
performs well that may give it an advantage over its competitors
Strategic Plan - CORRECT ANSWER- ✔✔an organization's broadest plan, developed as a
guide for major policy setting and decision making
Tactical Plan - CORRECT ANSWER- ✔✔a smaller-scale plan developed to implement a
strategy
Operational Plan - CORRECT ANSWER- ✔✔a type of plan designed to implement tactical
plans
Top Manager - CORRECT ANSWER- ✔✔an upper-level executive who guides and controls
the overall fortunes of an organization - determines strategy and mission
Middle Manager - CORRECT ANSWER- ✔✔a manager who implements the strategy and
major policies developed by top management - develops tactical and operational plans
First-line Manager - CORRECT ANSWER- ✔✔a manager who coordinates and supervises
the activities of operating employees - solves day to day problems
Autocratic Leadership - CORRECT ANSWER- ✔✔Task-oriented style; workers are told
what to do and how to do it, they have no say in the decision making process
Participative Leadership - CORRECT ANSWER- ✔✔a leadership style in which the leader
consults employees for their suggestions and input before making decisions
Laissez-faire Leadership - CORRECT ANSWER- ✔✔a hands off leadership style that
provides direction, tools, and resources to employees while delegating responsibility and
decision-making authority to them
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