Management WOB Test 2

Question 1

Managerial Roles

Answer 1

Patterns and activities that carry out functions of management

Question 2

4 functions of managers

Answer 2

Planning
Organizing
Controlling
Leading

Question 3

The four functions of managers can help increase ——- and —–.

Answer 3

Efficiency and effectiveness

Question 4

Being efficient and effective helps managers reach —– and —–.

Answer 4

Missions and objectives

Question 5

Mission statement

Answer 5

Brief statement that says what the organization aims to accomplish

Question 6

Vision Statement

Answer 6

Brief expression of what a company wants to be

Question 7

Value statement

Answer 7

Explains principals of companies decisions and behaviors

Question 8

SWOT stands for…

Answer 8

Strength
Weakness
Opportunity
Threat

Question 9

Strength

Answer 9

A Positive internal factor

Question 10

Weakness

Answer 10

Negative internal factor

Question 11

Opportunity

Answer 11

Ways to generate new revenue

Question 12

Threat

Answer 12

Negative forces that could stop firm from achieving objectives

Question 13

Qualitative Forecast

Answer 13

Based on judgement which has no numbers

Question 14

Quantitative Forecast

Answer 14

Involves numbers

Question 15

Goal vs Objective

Answer 15

Goal- broad long term target

Objective- specific short term target

Question 16

What does SMART stand for in Smart Goals?

Answer 16

Specific 
Measurable
Attainable 
Relevant 
Time limited

Question 17

Cognitive Intelligence

Answer 17

Involves reasoning and rational skills

Question 18

Emotional Intelligence

Answer 18

Involves measure of a persons awareness

Question 19

Social Intelligence

Answer 19

Understanding of social situations

Question 20

3 types of leadership skills

Answer 20

Autocratic
Democratic
Laiszee Fair

Question 21

Autocratic

Answer 21

Managers make decisions and pass them down the chain of command

Question 22

Democratic

Answer 22

Managers share decision making authority

Question 23

Laisez Fair

Answer 23

Managers acts as advisor and supporter

Question 24

Benchmarking

Answer 24

Collecting and comparing data against other companies