PSB Smith-MGMT 301 Exam 1 Questions & Answers 2024/2025
Management includes - ANSWERSplanning, organizing, and leading of resources and controlling of human and other resources to achieve organizational goals effectively and efficiently.
.
A measure of how productively resources are used ...
Management includes - ANSWERSplanning, organizing, and leading of resources and controlling of
human and other resources to achieve organizational goals effectively and efficiently.
.
A measure of how productively resources are used to achieve a goal is known as - ANSWERSefficiency
The formal system of task and reporting relationships that coordinates and motivates organizational
members so they work together to achieve organizational goals is called organizational -
ANSWERSstructure
Which of the following strategies helps an organization to obtain customers by making decisions that
allow it to produce goods or services more cheaply than its competitors? - ANSWERSlow-cost
A short, succinct, and inspiring statement of what the organization intends to become is an
organization's - ANSWERSvision
Which of the following describes first-line managers? - ANSWERSThey are also known as supervisors.
The job-specific skills required to perform a particular type of work at a high level are a part of a
manager's ________ skills. - ANSWERStechnical
Contracting with another company, usually in a low-cost country abroad, to have it perform a work
activity the organization previously performed itself is known as - ANSWERSoutsourcing
The ability of one organization to outperform other organizations because it produces desired goods or
services more efficiently and effectively than its competitors is known as its - ANSWERScompetitive
advantage
, The specific set of departmental skills, knowledge, and experience that allows one organization to
outperform its rivals is known as the organization's - ANSWERScore competency.
High-performing organizations are - ANSWERSefficient and effective.
Manager chooses the right goals to pursue and makes good use of resources to achieve these goals. -
ANSWERSHigh efficiency and high effectiveness. Results in a product that customers want at a quality
and price that they can afford.
Manager chooses inappropriate goals but makes good use of resources to purse these goals. -
ANSWERSHigh efficiency and low effectiveness. Results in a high quality product that customers do not
want.
Manager chooses wrong goals to pursue and makes poor use of resources. - ANSWERSLow efficiency and
low effectiveness. Results in a low quality product that customers do not want.
Manager chooses the right goals to purse but does a poor job of using resources to achieve these goals. -
ANSWERSLow efficiency and high effectiveness. Results in a product a customer wants but too expensive
for them to buy.
planning - ANSWERSchoosing appropriate organizational goals and courses of action to best achieve
those goals
organizing - ANSWERSestablish task and authority relationships that allow people to work together to
achieve organization goals
leading - ANSWERSmotivate, coordinate, and energize individuals and groups to work together to
achieve organizational goals
effective - ANSWERSdoing the right thing or completing activities so that organizational goals are
attained
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