MGMT 3000 Lyons Test 1 Review Questions and Answers | Latest Version | 2024/2025 | 100% Verified
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Course
MGMT 3000 Lyons
Institution
MGMT 3000 Lyons
MGMT 3000 Lyons Test 1 Review
Questions and Answers | Latest Version
| 2024/2025 | 100% Verified
What are the three levels of management and their primary focus?
Top-level focuses on strategic planning, mid-level on tactical planning, and lower-level on
operational tasks.
How does environmen...
MGMT 3000 Lyons Test 1 Review
Questions and Answers | Latest Version
| 2024/2025 | 100% Verified
What are the three levels of management and their primary focus?
✔✔ Top-level focuses on strategic planning, mid-level on tactical planning, and lower-level on
operational tasks.
How does environmental scanning aid in business strategy?
✔✔ It helps identify external opportunities and threats that impact organizational planning.
What role does employee engagement play in organizational success?
✔✔ Engaged employees are more productive, committed, and contribute to a positive work
environment.
How can managers effectively manage conflict within teams?
✔✔ By addressing issues promptly, encouraging open communication, and finding collaborative
solutions.
1
,What is the importance of establishing measurable objectives in management?
✔✔ Measurable objectives allow managers to track progress and determine if goals are being
met.
How does globalization influence management practices?
✔✔ It requires managers to adapt to diverse cultures, regulations, and competitive landscapes.
How does diversity in the workplace benefit an organization?
✔✔ It fosters innovation, broadens perspectives, and improves problem-solving abilities.
What are the essential elements of a successful team?
✔✔ Clear goals, mutual trust, open communication, and effective leadership.
How do managers use financial statements to guide decisions?
✔✔ By analyzing financial performance to inform budgeting, investments, and resource
allocation.
What is the role of corporate governance in management?
2
,✔✔ It ensures accountability, fairness, and transparency in a company’s management and
operations.
What is the primary purpose of management within an organization?
✔✔ To coordinate resources and activities to achieve organizational goals effectively and
efficiently.
How does strategic planning differ from operational planning?
✔✔ Strategic planning focuses on long-term goals, while operational planning is concerned with
short-term objectives and day-to-day operations.
What is the role of a manager in the decision-making process?
✔✔ To analyze information, evaluate alternatives, and choose the best course of action to solve
problems.
How does organizational structure impact business performance?
✔✔ A well-designed structure improves communication, efficiency, and accountability, leading
to better performance.
3
, What is the importance of leadership in achieving organizational success?
✔✔ Leadership guides and motivates employees to work towards the organization’s goals,
fostering commitment and productivity.
How do managers utilize control systems in management?
✔✔ Control systems monitor performance, compare it with objectives, and implement corrective
actions if necessary.
What is the function of human resource management in organizations?
✔✔ To recruit, train, develop, and retain employees, ensuring the organization has the right
talent to meet its goals.
How does corporate social responsibility (CSR) impact a company's reputation?
✔✔ CSR enhances a company's reputation by demonstrating ethical behavior and a commitment
to societal well-being.
What is the relationship between organizational culture and employee performance?
✔✔ A positive culture promotes engagement, satisfaction, and higher performance, while a
negative culture can lead to dissatisfaction and lower productivity.
4
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