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Business EOPA Questions And Answers With Verified Solutions Already Passed Latest Updated 2024
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Business EOPA Questions And Answers With Verified Solutions Already Passed Latest Updated 2024
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Business EOPA Questions And AnswersWith Verified Solutions Already Passed
Latest Updated 2024
What is management - ANSWER✔✔ It is the process of accomplishing the goals of
an organization through the effective use of people and resourses
Functions of Management: - ANSWER✔✔ The process of coordinating work
activities so that an organization's objectives are achieved efficiently and
effectively with and through other people
Vision Statement - ANSWER✔✔ expresses what the organization should become,
where it wants to go strategically
Mission statement - ANSWER✔✔ 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 - ANSWER✔✔ Things you aim for that take planning and work
Objectives - ANSWER✔✔ Tasks that are intended to be accomplished by a specific
date, and are stated in specific terms so that they are measurable
SWOT analysis - ANSWER✔✔ identifying internal strengths (S) and weaknesses
(W) and also examining external opportunities (O) and threats (T)
,Strategic planning - ANSWER✔✔ the managerial process of creating and
maintaining a fit between the organization's objectives and resources and the
evolving market opportunities
Tactical planning - ANSWER✔✔ 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 - ANSWER✔✔ The process of setting work standards and
schedules necessary to implement the company's tactical objectives
Contingency planning - ANSWER✔✔ 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 - ANSWER✔✔ Assessing and choosing among alternatives.
Problem solving - ANSWER✔✔ The behavior of individuals when confronted with
a situation or task that requires insight or determination of some unknown
elements.
Brainstorming - ANSWER✔✔ Problem-solving technique that involves considering
all possible solutions without making prior evaluative judgments.
PMI - ANSWER✔✔ Project Management Institute
, Organization chart - ANSWER✔✔ traces the line of authority within the
corporation
Top management - ANSWER✔✔ The highest level of management, consisting of
the president and other key company executives who develop strategic plans.
Middle management - ANSWER✔✔ Which level of management includes job
titles such as general manager, division manager, or plant manager
Supervisory management - ANSWER✔✔ 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 - ANSWER✔✔ The ability to apply specialized knowledge or
expertise.
Human relations skills - ANSWER✔✔ skills that involve communication and
motivation; they enable managers to work through and with people
Conceptual skills - ANSWER✔✔ The ability to see the organization as a whole,
understand how the different parts affect each other, and recognize how the
company fits into or is affected by its environment
Staffing - ANSWER✔✔ A management function that includes hiring, motivating,
and retaining the best people available to accomplish the company's objectives
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