organization - Answer-group of people who work together to achieve some specific purpose
management - Answer-the pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organization's resources
ef...
MAN320F Exam 1 Questions and
Answers
organization - Answer-group of people who work together to achieve some specific
purpose
management - Answer-the pursuit of organizational goals efficiently and effectively by
integrating the work of people through planning, organizing, leading, and controlling the
organization's resources
efficiency - Answer-to use resources wisely and cost-effectively
effectiveness - Answer-to achieve results, to make the right decisions and to
successfully carry them out so that they achieve the organization's goals
multiplier effect - Answer-your influence on the organization is multiplied far beyond the
results that can be achieved by just one person acting alone
mentor - Answer-an experienced person who provided guidance to someone new to the
work world
four management functions - Answer-planning, organizing, leading, and controlling
(POLC)
planning - Answer-setting goals and deciding how to achieve them
organizing - Answer-arranging tasks, people, and other resources to accomplish the
work
leading - Answer-motivating, directing, and otherwise influencing people to work hard to
achieve the organization's goals
controlling - Answer-monitoring performance, comparing it with goals, and taking
corrective action as needed
competitive advantage - Answer-ability of an organization to produce goods or services
more effectively than competitors do, thereby outperforming them
innovation - Answer-finding ways to deliver new or better goods or services
e-commerce (electronic commerce) - Answer-the buying and selling of goods or
services over computer networks
e-business - Answer-using the Internet to facilitate every aspect of running a business
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