CEOE OSAT Question and answers already passed Management - correct answer The act of engaging with an organization's human talent and its resources to accomplish desired goals and objectives.
Function of Business Management - correct answer Planning, Organizing, Staffing, Leading/Directing,...
CEOE OSAT - Business Education
Management - correct answer ✔The act of engaging with an organization's
human talent and its resources to accomplish desired goals and objectives.
Function of Business Management - correct answer ✔Planning, Organizing,
Staffing, Leading/Directing, Controlling/Monitoring, and Motivating
Planning - correct answer ✔The function of management where you decide
what needs to happen in the future (today, next month, next year, etc.) and
generating plans for action.
Organizing - correct answer ✔The function of management where you
implement a pattern of relationships among workers and making optimum use
of the resources required to enable the successful carrying out of plans.
Staffing - correct answer ✔The function of management that includes Job
analysis, recruitment, and hiring of people with the necessary skills for
appropriate jobs. Providing or facilitating ongoing training, if necessary, to
keep skills current.
Leading/Directing - correct answer ✔The function of management that
involves determining what needs to be done in a situation and getting the right
people to do it.
Controlling/Monitoring - correct answer ✔The function of management that
involves checking current outcomes against forecast plans and making
adjustments when necessary so that goals are achieved.
,Motivating - correct answer ✔The function of management that consists of
energizing, channeling and sustaining people's behavior towards the goals of
the organization.
Stakeholders - correct answer ✔Persons or organizations with a legitimate
interest in a given situation, action ,or enterprise which are directly affected by
the organization's actions.
Theoretical - correct answer ✔Of or relating to the underlying principles or
methods of a given technical skill, art, etc., as opposed to its practice.
Shareholder - correct answer ✔Through owning stock ,the real owner of a
publicly traded business that is run by management.
Capital expenditure - correct answer ✔Funds spent by a company to acquire
or upgrade a long-term asset.
Controller - correct answer ✔A person who audits and manages the financial
affairs of a company or government; a comptroller.
Delegation - correct answer ✔The act of committing a task to someone,
especially a subordinate.
Line Authority - correct answer ✔Managers have the formal power to direct
and control immediate subordinates executing specific tasks within a chain of
command, usually within a specific department.
Functional Authority - correct answer ✔Managers have formal power over a
specific subset of activities that include outside departments. (Before a
, production manager buys a new machine, a expenditure proposal must be
submitted.)
Staff Authority - correct answer ✔Staff specialists manage operations in their
areas of expertise.
Tall Structure - correct answer ✔Management structure characterized by an
overall narrow span of management, a relatively large number of hierarchical
levels, tight control, and reduced communication overhead.
Flat Structure - correct answer ✔Management structure characterized by an
overall broad span of management and relatively few hierarchical levels, loose
control and ease of delegation.
Centralization - correct answer ✔The location of decision making authority
near top organizational levels. This expedites decision-making from the top
down.
Decentralization - correct answer ✔The location of decision making authority
is relatively evenly dispersed across the company. This works well when
creativity and independent operations create value for the organization.
Laissez-faire - correct answer ✔An environment in which an organization's
employees are free from excessive oversight or management, with sufficient
control only to ensure organizational goals are met.
Accounting - correct answer ✔The systematic and detailed recording of
financial transactions of a business.
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