Chapter 5

Question 1

management

Answer 1

process of planning, organizing, leading, and controlling an organization’s resources to acheive its goals

Question 2

planning

Answer 2

managment process of determining what an organization needs to do and how best to do get it done

Question 3

organizing

Answer 3

management process of determining how best to arrange an organization’s resources and activities into a coherent structure

Question 4

leading

Answer 4

management process of guiding and motivating employees to meet an organization’s objectives

Question 5

controlling

Answer 5

management process of monitoring an organization’s performance to ensure that it is meeting its goals

Question 6

top manager

Answer 6

manager responsible for a firm’s overall performance and effectiveness

Question 7

middle manager

Answer 7

manager responsible for implementing the strategies and working toward the goals set by top managers

Question 8

first-line managers

Answer 8

manager responsible for supervising the owrk of employees

Question 9

technical skills

Answer 9

skills needed to perform specialized tasks

Question 10

human relations skills

Answer 10

skills in understanding and getting along with people

Question 11

conceptual skills

Answer 11

abilities to think in the abstract, diagnose and analyze different situations, and see beyond the present situation

Question 12

decision-making skills

Answer 12

skills indefining problems and selecting the best courses of action

Question 13

time management skills

Answer 13

skills associated with the productive use of time

Question 14

strategic managment

Answer 14

process of helping an organization maintain an effective alignment with its environment

Question 15

goal

Answer 15

objective that a business hopes and plans to achieve

Question 16

strategy

Answer 16

broad set of organizational plans for implementing the decisions made for acheiving organizational goals

Question 17

mission statement

Answer 17

organization’s statement of how it will acheive its purpose in the enviornment in which it conducts its business

Question 18

long-term goal

Answer 18

goal set up for an exteded time, typically five years or more into the future

Question 19

intermediate goal

Answer 19

goal set for a period of one to five years into the future

Question 20

short-term goal

Answer 20

goal set for the very near future

Question 21

corporate strategy

Answer 21

strategy for determining a firm’s overall attitude toward growth and the way it will manage its businesses or product lines

Question 22

business (or competitive) strategy

Answer 22

strategy, at the business-unit or product-line level, focusing on improving a firm’s competitive position

Question 23

functional strategy

Answer 23

strategy by which managers in specific areas decide how best to achieve corporate goals through productivity

Question 24

strategy formulation

Answer 24

creation of a broad program for defining an dmeeting an organization’s goals

Question 25

stategic goal

Answer 25

goal derived directly from a firm’s mission statement

Question 26

swot analysis

Answer 26

identificaion and analysis of organizational strengths and weeknesses and environmental opportunities and threats as part of strategy formulation

Question 27

environmental analysis

Answer 27

process of scanning the business environment for threats of and opportunities

Question 28

organizational analysis

Answer 28

process of analyzing a firm’s strengths and weeknesses

Question 29

strategic plan

Answer 29

plan reflecting decisions about resource allocations, company priorities, and steps needed to meet strategic goals

Question 30

tactical plan

Answer 30

generally short-term plan concerned with impementing specific aspects of a company’s strategic plans

Question 31

operational plan

Answer 31

plan setting short-term targets for daily, weekly, or monthly performance

Question 32

contingency planning

Answer 32

identification of aspects of a business or its environment that might entail changes in strategy

Question 33

crisis management

Answer 33

organization’s methods for dealing with emergencies

Question 34

corporate culture

Answer 34

the shared experiences, stores, beliefs, and norms that characterize an organization