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Business Acumen C201 exam (294 questions and answers).
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Business AcumenC201 exam (294
questions and
answers)
What is management?
Is the process of achieving organizational
objectives through people and other resources.
Organizational Structure
Is the way in which an organization is divided into
departments, teams, and individual roles.
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How does the top, middle, and supervisory
managers differ
Their jobs differ, however, because they work at
different levels of the organization.
Skills Needed for Managerial Success
- Technical
- Human
- Conceptual
Technical Skills of Managers (Important for first
line managers)
The manager's ability to understand and use the
techniques, knowledge, tools, and equipment of a
specific discipline or department
Human Skills for Managers
Include the ability to communicate, build rapport,
collaborate, motivate, and lead employees to meet
organizational goals through individual and team
assignments.
Emotional Intelligence
The ability to understand and manage one's own
emotions, along with the emotions of others.
Conceptual Skills of Managers (Important for Top
Managers)
,Ability to see the organization as a unified whole
and to understand how each part of the overall
organization interacts with other parts.
Managerial Functions
- Planning
- Organizing
- Directing
- Controlling
Planning- Managerial
The process of anticipating future events and
conditions and determining courses of actions for
achieving organizational objectives.
ABC's of Business Decay
- Arrogance,
- Bureaucracy, and
- Complacency
Organizing- Managerial
The process of blending human and material
resources through a formal structure of tasks and
authority; arranging work, dividing tasks among
employees, and coordinating them to ensure
implementation of plans and accomplishment of
objectives.
Directing- Managerial
Guiding and motivating employees to accomplish
organizational objectives.
FOMO
, Fear Of Missing Out
Controlling- Managerial
Evaluates an organization's performance against
its objectives. Assesses the success of the planning
function and provides feedback for future rounds
of planning.
Vision of a Company
Founder's perception of marketplace needs and the
ways a company can satisfy them.
Types of Planning
- Strategic
- Tactical
- Operational
- Contingency
Strategic Planning ( The most far reaching) Top
Management
The process of determining the primary objectives
of an organization and then acting and allocating
resources to achieve those objectives. Usually
taken on by top executives
Tactical Planning- Middle Manangement
Involves implementing the activities specified by
strategic plans. Focuses on the project as a whole
Operational Planning- Supervisory
Creates detailed standards that guide the
implementation of tactical plans. This activity
involves choosing specific work targets and
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