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MGMT Exam 1 (Chapters 1 - 5) Questions And Answers Latest Update
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MGMT Exam 1 (Chapters 1 - 5) Questions And Answers Latest Update
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Solution 2024/2025Pepper
MGMT Exam 1 (Chapters 1 - 5) Questions And
Answers Latest Update
Organization ANS✔✔ a group of people who work together to achieve some
specific purpose
Management ANS✔✔ defined as:
-the pursuit of organizational goals efficiently and effectively by
-integrating the work of people through
-planning, organizing, leading, and controlling the organization's resources
Simply put:
-the art of getting things done through people
Efficient ANS✔✔ to be _____________ means to use resources - people,
money, raw materials, and the like - wisely and cost-effectively
Effective ANS✔✔ to be _____________ means to achieve results, to make the
right decisions and to successfully carry them out so that they achieve the
organization's goals
Multiplier Effect ANS✔✔ refers to the idea that a manager's influence
extends far beyond the results that can be achieved by just one individual
acting alone
Rewards of Studying Management ANS✔✔ _______________ of studying
management:
, Solution 2024/2025
Pepper
-understand how to deal w/ organizations from the outside
-understand how to relate to your supervisors
-understand how to interact w/ coworkers
-understand how to manage yourself in the workplace
Rewards to Practicing Management ANS✔✔ ____________ of practicing
management:
-you & employees can experience a sense of accomplishment
-stretch your abilities and magnify your range
-build a catalog of successful p/s
-you can become a mentor and help others
Management Process ANS✔✔ the ________________ process:
1. Planning
2.Organizing
3. Leading
4. Controlling
Planning ANS✔✔ the first part of the mgmt process
you set goals and decide how to achieve them
Organizing ANS✔✔ the second step of the mgmt process
you arrange tasks, people, and other resources to accomplish the work
, Solution 2024/2025
Pepper
Leading ANS✔✔ the third step of the mgmt process
you motivate, direct, and otherwise influence people to work hard to
achieve the organization's goals
Controlling ANS✔✔ the fourth step of the mgmt process
you monitor performance, compare it with goals, and take corrective action
as needed
Seven Challenges to Being a Star Manager ANS✔✔ 1. manage for
competitive advantage
-staying ahead of rivals
2. managing for diversity
-future won't resemble the past
3. manage for globalization
-the expanding mgmt universe
4. manage for information technology
-dealing w/ the new normal
5. managing for ethical standards
6. manage for sustainability
-the business of green
, Solution 2024/2025
Pepper
7. managing for your own happiness & meaningfulness
Competitive Advantage ANS✔✔ the ability of an organization to produce g/s
more effectively than competitors do, thereby outperforming them
E-Business ANS✔✔ using the internet to facilitate every aspect of running a
business
-information technology has led to the growth in this
Implications of Info Technology ANS✔✔ -far-ranging electronic mgmt: e-
communication all the time
-more and more data: challenges to decision making
-rise of artificial intelligence:more automation in the workforce
-organizational changes: shifts in structure, jobs, goals, and knowledge
mgmt
Sustainability ANS✔✔ economic development that meets the needs of the
present WITHOUT compromising the ability of future generations to meet
their own needs
Top Managers ANS✔✔ -level of mgmt
-make long-term decisions about the overall direction of the organization
and establish the objectives, policies, and strategies for it
Middle Managers ANS✔✔ -level of mgmt
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