IBP1

Question 1

Using resources wisely andin a cost-effective way

Answer 1

EFFICIENTLY

Question 2

• A group of people working together in a structured and coordinated fashion to achieve a set of goals.
• It is a social entity that is goal directed.

Answer 2

Organization

Question 3

Basic management functions.

Answer 3

Planning & Decision Making, Organizing, Leading, Controlling

Question 4

Organization’s resources

Answer 4

Human, Financial, Physical, and Informational

Question 5

Making the right decisions and successfully implementing them

Answer 5

EFFECTIVELY

Question 6

• Someone whose primary responsibility is to carry out the management process.
• Someone who plans and makes decisions organizes, leads, and controls human, financial, physical, and information resources.

Answer 6

Manager

Question 7

The relatively small group of executives who manage the organization’s overall goals, strategy, and operating policies.

Answer 7

Top Managers

Question 8

Largest group of managers in organizations
-Implement top management’s policies and plans.

• Supervise and coordinate lower-level managers’ activities.

Answer 8

Middle Managers

Question 9

Managers who supervise and coordinate the activities of operating employees.

Answer 9

First-Line Managers

Question 10

Work in areas related to getting consumers and clients to buy the organization’s products or services.

Answer 10

Marketing Managers

Question 11

Deal primarily with an organization’s financial resources.

Answer 11

Financial Managers

Question 12

Concerned with creating and managing the systems that create organization’s products and services.

Answer 12

Operations Managers

Question 13

Planning, recruiting and selection, training and development, designing compensation and benefit systems, formulating performance appraisal systems.

Answer 13

Human Resource Managers

Question 14

Serve as generalists in functional areas and are not associated with any particular management specialty.

Answer 14

Administrative Managers

Question 15

Assigned as specialists in positions directly related to the needs of the organization.

Answer 15

Other Kinds of Managers

Question 16

Setting an organization’s goals and selecting a course of action from a set of alternatives to achieve them.

Answer 16

Planning and Decision Making

Question 17

Determining how activities and resources are grouped.

Answer 17

Organizing

Question 18

Getting organizational members to work together to advance the interests of the organization.

Answer 18

Leading

Question 19

Monitoring organizational progress towards goals.

Answer 19

Controlling

Question 20

Skills necessary to accomplish or understand the specific kind of work being done in an organization.

Answer 20

Technical

Question 21

The ability to communicate with, understand, and motivate both individuals and groups.

Answer 21

Interpersonal

Question 22

The manager’s ability to visualize the most appropriate response to a situation.

Answer 22

Diagnostic

Question 22

The manager’s ability to think in the abstract.

Answer 22

Conceptual

Question 23

The manager’s abilities both to convey ideas and information effectively to others and to receive ideas and information effectively from others.

Answer 23

Communication

Question 24

The manager’s ability to recognize and define problems and opportunities correctly and then to select an appropriate course of action to solve the problems and capitalize on opportunities.

Answer 24

Decision-Making

Question 25

The manager’s ability to prioritize work, to work efficiently, and to delegate appropriately.

Answer 25

Time-Management

Question 26

• Assumes that problems can be approached using rational, logical, objective, and systematic ways.
• Requires technical, diagnostic, and decision-making skills and techniques to solve problems.

Answer 26

The Science of Management

Question 27

• Decisions are made and problems solved using a blend of intuition, experience, instinct, and personal insights.
• Requires conceptual, communication, interpersonal, and time-management skills to accomplish the tasks associated with managerial activities.

Answer 27

The Art of Management