APSC 221 Chapter 17: Managing the
Business Enterprise
Management: - correct answer ✔the process of planning, organizing, leading
and controlling an enterprise's financial, physical, human and information
resources to achieve the organization's goals
Efficiency: - correct answer ✔achieving the greatest level of output with a
given amount of input
Effectiveness: - correct answer ✔achieving organizational goals that have
been set
3 types of plans - correct answer ✔1) strategic plans
2)tactical plans
3)operational plans
Strategic plans: - correct answer ✔reflect decisions about resource
allocations, company priorities, and the steps needed to meet strategic goals,
and are usually set by top management
Tactical plans: - correct answer ✔shorter-range plans concerned with
implementing specific aspects of the company's strategic plan
Operational plans: - correct answer ✔developed by middle and lower-level
managers, set short-term targets for daily, weekly, or monthly performance
Business Enterprise
Management: - correct answer ✔the process of planning, organizing, leading
and controlling an enterprise's financial, physical, human and information
resources to achieve the organization's goals
Efficiency: - correct answer ✔achieving the greatest level of output with a
given amount of input
Effectiveness: - correct answer ✔achieving organizational goals that have
been set
3 types of plans - correct answer ✔1) strategic plans
2)tactical plans
3)operational plans
Strategic plans: - correct answer ✔reflect decisions about resource
allocations, company priorities, and the steps needed to meet strategic goals,
and are usually set by top management
Tactical plans: - correct answer ✔shorter-range plans concerned with
implementing specific aspects of the company's strategic plan
Operational plans: - correct answer ✔developed by middle and lower-level
managers, set short-term targets for daily, weekly, or monthly performance
