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Business EOPA, Top Exam Questions and answers, verified. Rated A+
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Business EOPA, Top Exam Questions and answers, verified. Rated A+ What is management - -It is the process of accomplishing the goals of an organization through the effective use of people and resourses Functions of Management: - -The process of coordinating work activities so that an organi...

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  • July 25, 2023
  • 13
  • 2022/2023
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Business EOPA, Top Exam Questions
and answers, verified. Rated A+

What is management - ✔✔-It is the process of accomplishing the goals of an organization through the
effective use of people and resourses



Functions of Management: - ✔✔-The process of coordinating work activities so that an organization's
objectives are achieved efficiently and effectively with and through other people



Vision Statement - ✔✔-expresses what the organization should become, where it wants to go
strategically



Mission statement - ✔✔-a statement of the firm's business based on a careful analysis of benefits
sought by present and potential customers and an analysis of existing and anticipated environmental
conditions



Goals - ✔✔-Things you aim for that take planning and work



Objectives - ✔✔-Tasks that are intended to be accomplished by a specific date, and are stated in specific
terms so that they are measurable



SWOT analysis - ✔✔-identifying internal strengths (S) and weaknesses (W) and also examining external
opportunities (O) and threats (T)



Strategic planning - ✔✔-the managerial process of creating and maintaining a fit between the
organization's objectives and resources and the evolving market opportunities



Tactical planning - ✔✔-A set of procedures for translating broad strategic goals and plans into specific
goals and plans that are relevant to a distinct portion of the organization, such as a functional area like
marketing.

, Operational planning - ✔✔-The process of setting work standards and schedules necessary to
implement the company's tactical objectives



Contingency planning - ✔✔-The process of preparing alternative courses of action that may be used if
the primary plans don't achieve the organization's objectives



Decision making - ✔✔-Assessing and choosing among alternatives.



Problem solving - ✔✔-The behavior of individuals when confronted with a situation or task that requires
insight or determination of some unknown elements.



Brainstorming - ✔✔-Problem-solving technique that involves considering all possible solutions without
making prior evaluative judgments.



PMI - ✔✔-Project Management Institute



Organization chart - ✔✔-traces the line of authority within the corporation



Top management - ✔✔-The highest level of management, consisting of the president and other key
company executives who develop strategic plans.



Middle management - ✔✔-Which level of management includes job titles such as general manager,
division manager, or plant manager



Supervisory management - ✔✔-perform hands on functions in addition to supervisory functions. Direct
daily work, create work schedules, and monitor the quality of the work and productivity of staff. They
also train and recruit.



Technical skills - ✔✔-The ability to apply specialized knowledge or expertise.

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