exam review module 10

Question 1

resources

Answer 1

a general term that incorporates human resources, natural resources, and financial resources

Question 2

management

Answer 2

the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources

Question 3

planning

Answer 3

a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives

Question 4

organizing

Answer 4

a management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything work together to achieve the organization’s goals and objectives

Question 5

leading

Answer 5

creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization’s goals and objectives.

Question 6

controlling

Answer 6

a management function that involves establishing clear standards to determine whether or not organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not

Question 7

vision

Answer 7

an encompassing explanation of why the organization exists and where it is trying to head

Question 8

mission statement

Answer 8

an outline of the fundamental purposes of an organization

Question 9

goals

Answer 9

the broad, long-term accomplishments an organization wishes to attain.

Question 10

objectives

Answer 10

specific, measurable, short-term statements detailing how to achieve the organization’s goals

Question 11

SWOT analysis

Answer 11

strengths, weaknesses, opportunities, and threats.

Question 12

strategic planning

Answer 12

the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.

Question 13

tactical planning

Answer 13

the process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.

Question 14

operational planning

Answer 14

the process of setting work standards and schedules necessary to implement the company’s tactical objectives.

Question 15

contingency planning

Answer 15

the process of preparing alternative courses of action that may be used if the primary plans do not achieve the organization’s objectives

Question 16

crisis planning

Answer 16

involves reacting to sudden changes in the environment

Question 17

decision making

Answer 17

choosing among two or more alternatives

Question 18

problem solving

Answer 18

the process of solving the everyday problems that occur. Problem solving is less formal than decision making and usually calls for quicker action.

Question 19

brainstorming

Answer 19

: generating as many solutions to a problem as possible in a short period of time with no censoring of ideas.

Question 20

PMI

Answer 20

creative thinking strategy that lists all the pluses, minuses and interesting points for a solution in separate columns.

Question 21

organization chart

Answer 21

a visual device that shows relationships among people and divides the organizations work; it shows who is accountable for the completion of specific work and who reports to whom.

Question 22

top management

Answer 22

highest level of management, consisting of the president and other key company executives, who develop strategic plans

Question 23

middle management

Answer 23

the level of management that includes general managers, division managers, and branch and plant managers, who are responsible for tactical planning and controlling

Question 24

supervisory management

Answer 24

managers who are directly responsible for supervising workers and evaluating their daily performance

Question 25

technical skills

Answer 25

skills that involve the ability to perform tasks in a specific discipline or department

Question 26

human relations skills

Answer 26

skills that involve communication and motivation; they enable managers to work through and with people

Question 27

conceptual skills

Answer 27

skills that involve the ability to picture and organize as a whole and the relationships among its various parts

Question 28

staffing

Answer 28

a management function that includes hiring, motivating, and retaining the best people available to accomplish the company’s objectives

Question 29

transparency

Answer 29

the presentation of a company’s facts and figures in a way that is clear, accessible, and apparent to all stakeholders.

Question 30

autocratic leadership

Answer 30

leadership style that involves making managerial decisions without consulting others

Question 31

participative leadership

Answer 31

leadership style that consists of managers and employees working together to make decisions

Question 32

free-rein leadership

Answer 32

leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives.

Question 33

transformational leadership

Answer 33

leadership style that occurs when leaders can influence others to follow them in working to achieve a desired outcome or goal.

Question 34

knowledge management

Answer 34

finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm.

Question 35

external customers

Answer 35

dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

Question 36

internal customers

Answer 36

individuals and units within the frim that receive services from other individuals or units.