Understanding Business Chapter 7

Question 1

Autocratic Leadership

Answer 1

leadership style that involves making managerial decisions without consulting others

Question 2

Brainstorming

Answer 2

coming up with as many solutions to a problem as possible in a short period of time with no censoring of ideas

Question 3

Conceptual Skills

Answer 3

skills that involve the ability to picture the organization as a whole and the relationship among its various parts

Question 4

Contingency Planning

Answer 4

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

Question 5

Controlling

Answer 5

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

Question 6

Decision Making

Answer 6

choosing among two or more alternatives

Question 7

Enabling

Answer 7

giving workers the education and tools they need to make decisions

Question 8

External Customers

Answer 8

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

Question 9

Free-Rein Leadership

Answer 9

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

Question 10

Goals

Answer 10

The broad. long-term accomplishments an organization wishes to attain

Question 11

Internal Customers

Answer 11

individuals and units within the firm that receive services from other individuals or units

Question 12

Knowledge Management

Answer 12

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

Question 13

Leading

Answer 13

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 14

Management

Answer 14

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

Question 15

Middle Management

Answer 15

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

Question 16

Mission Statement

Answer 16

An outline of the fundamental purposes of an organization

Question 17

Objectives

Answer 17

Specific. short-term statements detailing how to achieve the organization’s goals

Question 18

Operational Planning

Answer 18

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

Question 19

Organizing

Answer 19

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

Question 20

Participative (Democratic) Leadership

Answer 20

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

Question 21

Planning

Answer 21

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

Question 22

PMI

Answer 22

Listing all the pluses for a solution in one column. all the minuses in another. and the implications in a third column.

Question 23

Problem Solving

Answer 23

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

Question 24

Staffing

Answer 24

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

Question 25

Strategic Planning

Answer 25

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 26

Supervisory Management

Answer 26

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

Question 27

SWOT Analysis

Answer 27

a planning tool used to analyze an organization’s strengths. weaknesses. opportunities. and threats

Question 28

Tactical Planning

Answer 28

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 29

Technical Skills

Answer 29

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

Question 30

Top Management

Answer 30

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

Question 31

Transparency

Answer 31

The presentation of a company’s facts and figures in a way that is clear and apparent to all stakeholders

Question 32

Vision

Answer 32

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