Exam (elaborations)
Chapter 1 Business Management With Complete Solutions Latest Update
- Module
- Business management
- Institution
- Business Management
Chapter 1 Business Management With Complete Solutions Latest Update
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Chapter 1 Business Management With CompleteSolutions Latest Update
Management - correct answers the process of planning, organizing, leading, and
controlling an organization's financial, physical, human, and information resources
to achieve its goals
Planning - correct answers Management process of determining what an
organization needs to do and how best to get it done
Three Main Components of Planning - correct answers 1. Determine goals 2.
Develop a comprehensive strategy for achieving those goals 3. Design tactical and
operational plans for implementing the strategy
Organization - correct answers Determining the best way to arrange a business's
resources and activities into a coherent structure
Leading - correct answers Management process of guiding and motivating
employees to meet an organization's objectives
Controlling - correct answers Process of monitoring a firm's performance to make
sure that it is meeting its goals
Top Managers - correct answers Are responsible for a firm's overall performance
and effectiveness
, Middle Managers - correct answers Implement the strategies and work toward the
goals set by top managers
First-Line Managers - correct answers Supervise the work of employees
Human Resource Mangers - correct answers Hire and train employees, evaluate
performance, and determine compensation
Operations Mangers - correct answers Responsible for ensuring that operations
processes create value and provide benefits to customers
Marketing Managers - correct answers Plans and implements the marketing
activities that result in the transfer of products from producer to consumer
Information Managers - correct answers Operate the systems used for getting,
organizing, and distributing information
Financial Managers - correct answers Plan and oversee its accounting functions
and financial resources
Technical Skills - correct answers The skills needed to perform specialized tasks
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