BUS 6600 Module 2: Chapters 7 and 10 Exam Questions With Revised Answers
4 views 0 purchase
Module
BUS 6600
Institution
BUS 6600
BUS 6600 Module 2: Chapters 7 and 10
Exam Questions With Revised Answers
Managers today tend to be... - answerCollaborative, emphasize teams and team building,
guide, train, support, motivate, must be globally prepared, must be skilled communicators and
team players
Name the four functions of ...
BUS 6600 Module 2: Chapters 7 and 10
Exam Questions With Revised Answers
Managers today tend to be... - answer✔✔Collaborative, emphasize teams and team building,
guide, train, support, motivate, must be globally prepared, must be skilled communicators and
team players
Name the four functions of management. - answer✔✔planning, organizing, leading, controlling
Define management. - answer✔✔the process used to accomplish organizational goals through
planning, organizing, leading, and controlling people and other organizational resources
Define the planning process of organizational management. - answer✔✔a management function
that includes anticipating trends and determining the best strategies and tactics to achieve
organizational goals and objectives; setting goals
What is the key management function? - answer✔✔Planning (you must have a good plan for all
other functions to work)
Define the organizing function of management. - answer✔✔Designing the structure of the
organization and creating conditions and systems in which everyone and everything work
together to achieve the organization's goals and objectives
Allocating resources, assigning tasks, establishing procedures for accomplishing goals, recruiting
and selecting are all parts of which function of management? - answer✔✔Organizing
Successful organizations today are designed around what? - answer✔✔Pleasing the customer at
a profit
What is leading? - answer✔✔creating a vision for the organization and guiding, training,
coaching, and motivating others to work effectively to achieve the organization's goals and
objectives in a timely manner.
Give examples of the leading function of management. - answer✔✔Clarifying policies, guiding
and motivating, providing feedback on performance
Today, most managers tend to ______________ employees. This function was once known as
_________________, that is, telling employees exactly what to do. - answer✔✔empower;
directing
What is the controlling function of management? - answer✔✔involves establishing clear
standards to determine whether or not an organization is progressing toward its goals and
objectives, rewarding people for doing a good job, and taking corrective action if they are not.
Give examples of controlling in management. - answer✔✔Measuring results against corporate
objectives; monitoring performance relative to standards; taking corrective action when
necessary
Planning involves setting these three things. - answer✔✔Organizational vision; goals and
objectives
Define a vision. - answer✔✔an encompassing explanation of why the organization exists and
where it is headed; it is more than a goal.
Define a mission statement. - answer✔✔is an outline of the fundamental purposes of the
organization.
What should a good mission statement address? - answer✔✔i. The organization's self-concept
ii. Company philosophy
iii. Long-term survival
iv. Customer needs
v. Social responsibility
vi. The nature of the product or service
__________________ are the broad, long-term accomplishments an organization wishes to
attain. - answer✔✔Goals
Objectives are? - answer✔✔Specific, short-term statements detailing how to achieve the
organization's goals.
What two fundamental questions does planning address? - answer✔✔1. What is the situation
now?
2. How can we get there from here?
Define SWOT analysis. - answer✔✔A planning tool used to analyze an organization's strengths,
weaknesses, opportunities, and threats.
Strengths and weaknesses are ______________ to the firm. Opportunities and threats are
____________ to the firm. - answer✔✔Internal; external (cannot always be anticipated)
"Entry of lower-cost foreign competitors" is an example of what in SWOT analysis? -
answer✔✔Threat
"Weak market image" is an example of what in SWOT analysis? - answer✔✔Weakness
"Ability to serve additional customer groups" is an example of what in SWOT analysis? -
answer✔✔Opportunity
"Core competency in key areas" is an example of what in SWOT analysis? - answer✔✔Strength
What are the four types of planning? - answer✔✔1. Strategic Planning
2. Tactical Planning
3. Operational Planning
4. Contingency Planning
Define strategic planning and who is involved. - answer✔✔Determining the major goals of the
organization and the policies and strategies for obtaining and using resources to achieve those
goals (upper-level management; executives)
Define tactical planning and who is involved. - answer✔✔Developing detailed, short-term
statements about what is to be done, who is to do it, and how it is to be done.
Tactical planning is normally done by managers at lower levels of the organization.
An example of tactical planning is setting annual budgets.
Define policies vs. strategies - answer✔✔Policies: Broad guidelines for action
Strategies: Determine the best way to use resources
Who decides which customers to serve, when to serve them, what products to sell and the
geographic areas in which to compete? - answer✔✔Top-level management.
Companies are embracing plans that respond quickly to _____________ ____________. -
answer✔✔customer needs
Define operational planning. - answer✔✔the process of setting of work standards and schedules
necessary to implement the company's tactical objectives. Operational planning focuses on
specific supervisors and individual employees.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Brightstars. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £9.84. You're not tied to anything after your purchase.
