management and leadership chapter 5 questions with
Written for
Management
Management
Management
All documents for this subject (395)
Seller
Follow
Hkane
Reviews received
Content preview
Management and Leadership Chapter 5
Action Plan - correct answer-Defines the course of action needed to achieve the stated goal
Business Model - correct answer-Outlines the need the firm will fill, the operations of the
business, its components and functions, as well as the expected revenues and expenses
Business Plan - correct answer-A document that outlines a proposed firm's goals, the
strategy for achieving them, and the standards for measuring success
Cascading - correct answer-Objectives are structured in a unified hierarchy, becoming more
specific at lower levels of the organization
For MBO to be Successful: - correct answer-(1) Top management must be committed
(2) It must be applied organization wide
(3) Objectives must "cascade"
Goal - correct answer-(Objective) A specific commitment to achieve a measurable result
within a started period of time
Management by Objectives (MBO) - correct answer-A four-step process on which (1)
managers and employees jointly set objectives for the employee, (2) managers develop
action plans, (3) managers and employees periodically review the employee's performance,
and (4) the manager makes a performance appraisal and rewards the employee according
to results
Means-end Chain - correct answer-In the chain of management (operational, tactical,
strategic) the accomplishment of low-level goals is the means leading to the accomplishment
of high-level goals or ends
Mission - correct answer-An organization's purpose or reason for being
Mission Statement - correct answer-Expresses the purpose of the organization
Operating Plan - correct answer-Is typically designed for a one-year-period, defines how you
will conduct your business based on the action plan; it identifies clear targets such as
revenues, cash flow, and market share
Operational Goals - correct answer-Set by and for first-line managers and are concerned
with short-term matters associated with realizing tactical goals
Operational Planning - correct answer-First-line managers determine how to accomplish
specific tasks with available resources within the next 1-52 weeks
Planning - correct answer-Setting goals and deciding how to achieve them
OR
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Hkane. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
