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WGU Business Acumen C201- ch7(24 questions and answers 2024)
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WGU Business Acumen C201- ch7(24 questions and answers 2024)
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WGU Business AcumenC201- ch7(24
questions and answers
2024)
Management - answer The achievement of
organizational objectives through the use of
people and other resources. The skills and
principles of management apply in both profit and
not-for-profit organizations.
The management hierarchy - answer The
management hierarchy has three levels: top,
middle, and supervisory management. Top
management sets the long-term direction, vision,
and values of the organization. Middle managers
focus on specific operations, products, or customer
groups and implement strategic plans. Supervisory
managers are responsible for assigning non-
managerial employees to specific jobs and
evaluating performance.
Skills needed for managerial success - answer
Successful managers should possess technical,
, human, and conceptual skills. Technical skills
include the ability to understand and use the
knowledge and tools of a specific discipline or
activity. Human skills are the interpersonal skills
managers need to motivate and lead employees to
accomplish identified objectives. Conceptual skills,
needed especially by top managers, involve the
ability to see the big picture by acquiring,
analyzing, and interpreting information.
Managerial functions - answer Managers in any
organization must perform the essential functions
of planning, organizing, directing, and controlling.
Planning is the process of anticipating future
events and conditions and determining courses of
action for achieving organizational objectives.
Organizing is the process of blending human and
material resources through a formal structure of
tasks and authority. Guiding and motivating
employees to accomplish organizational objectives
is called directing. Controlling is the function of
evaluating an organization's performance against
its objective.
Vision - answer A perception of marketplace needs
and the methods by which an organization can
satisfy them. It serves as the target for a firm's
actions, helping direct the company toward
opportunities and differentiating it from
competitors.
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