Chapter 1: what do managers do?

Question 1

A social institution that makes goods and provide services capable of satisfying the needs and wants of society.

Answer 1

Business

Question 2

Measures the appropriateness of goals as well as the degree to which managers achieve goals. Get the desired results in the right areas.

Answer 2

managerial effectiveness

Question 3

measures how productively managers use resources; managers should perform with a minimum of effort, expense, or waste.

Answer 3

managerial efficiency

Question 4

measures managerial effectiveness and efficiency in satisfying customers and achieving organizational goals.

Answer 4

organizational performance

Question 5

manager chooses the right goals to pursue, but does a poor job of using resources to achieve these goals. Result: a product that customers want, but that is too expensive for them to buy.

Answer 5

Low efficiency and high effectiveness

Question 6

Manager chooses wrong goals to pursue and makes poor use of resources. Result: A low-quality product that customers do not want.

Answer 6

Low efficiency and low effectiveness

Question 7

Manager chooses the right goals to pursue and makes good use of resources to achieve these goals. Result: A product that customers want at a quality and price they can afford.

Answer 7

High efficiency and high effectiveness

Question 8

Manager chooses inappropriate goals, but makes good use of resources to pursue these goals. Result: A high-quality product that customers do not want.

Answer 8

High efficiency and low effectiveness

Question 9

Involves setting goals and developing strategies to achieve them-the most important managerial function.

Answer 9

Planning

Question 10

Structuring working relationships so people interact in a way to achieve organizational goals. This involves grouping activities into jobs.

Answer 10

organization

Question 11

This articulated a clear vision for members to accomplish. Energizes, motivates, and enables or prepares employees to do their jobs so an organization meets int’s goals.

Answer 11

Leading

Question 12

Managers use the function to measure performance and determine if goals have been met. If goals have been met, an effective manager will reward those responsible; if goals have not been met, an effective manager will learn why and take needed corrective action.

Answer 12

Controlling

Question 13

What are the three steps to planning?

Answer 13

1. Deciding which goals the organization will pursue.
2. deciding what strategies to adopt to attain those goals.
3. deciding how to allocate organizational resources to pursue the strategies that attain those goals.

Question 14

___ managers who supervise (non managers on a day-to-day basis) need a lot of technical and human skills.

Answer 14

First-line managers.

Question 15

managers (who run the entire business) need an abundance of conceptual skills and human skills.

Answer 15

top managers

Question 16

___ skills are important at all levels.

Answer 16

Human / interpersonal skills

Question 17

are the knowledge and capabilities to perform specialized tasks. Management often needs to have ——— in order to communicate effectively with line workers and coordinate efforts

Answer 17

technical skills

Question 18

Effective managers are able to work well with people, using the ________ essential to successfully lead. Learn how communication and relationship skills ease the way for accomplishing a business team’s goals.

Answer 18

human skills

Question 19

allow a manager to visualize the entire organization and work with ideas and the relationships between abstract concepts.

Answer 19

Managerial skills