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MAN3025 - Prof. Wernick Exam With Complete Solutions Latest Update
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MAN3025 - Prof. Wernick Exam With Complete Solutions Latest Update
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MAN3025 - Prof. Wernick Exam With CompleteSolutions Latest Update
Management - correct answers the process of assembling and using sets of resources in a goal directed manner to
accomplish tasks in an organizational setting
Managerial Challenges - correct answers - Managing Change
-Managing Resources
-Managing Strategically
-Managing Entrepreneurially
Entrepreneur - correct answers Someone who creates new businesses for the purpose of gain or growth under
conditions of risk and uncertainty. Involves identifying new opportunities and exploiting them.
Entrepreneurial Mindset - correct answers is a way of thinking about businesses that emphasizes actions to take
advantage of uncertainty
Frederick W. Taylor - correct answers The father of modern management
Planning
Organizing
Directing
Controlling - correct answers What do managers do?
Planning - correct answers estimating future conditions and circumstances and making decisions about appropriate
courses of action
Organizing - correct answers systematically integrating resources to accomplish tasks
, Directing - correct answers the process of attempting to
influence other people to attain an organization's objectives
Controlling - correct answers regulating the work of those for whom a manager is responsible
Creative destruction - correct answers - Creation (innovation) by one firm leads to new products, services and even
entire industries.
- But unless the market leader is constantly innovating, it may be displaced (destroyed) by hungrier competitors.
- Example: Kodak and Polaroid.
-Setting Objectives
-Organizing
-Motivating and Communicating
-Measuring
-Developing people - correct answers What do managers do according to Ducker?
Setting Objectives - correct answers The manager sets goals for the group, and decides what work needs to be done to
meet those goals.
Organizing - correct answers Divides the work into manageable activities, and selects people to accomplish the tasks
that need to be done.
Motivating and Communicating - correct answers Creates a team out of his people, through decisions on pay,
placement, promotion, and through his communications with the team.
Measuring - correct answers Establishes appropriate targets and yardsticks, and analyzes, appraises and interprets
performance
Developing People - correct answers In a knowledge economy, people are the company's most important asset, and it is
up to the manager to develop that asset.
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