MAN 320F Final Exam Study Guide Questions and Answers Rated A+
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Course
MAN 320F
Institution
MAN 320F
MAN 320F Final Exam Study Guide
Questions and Answers Rated A+
What is the primary objective of strategic management?
To develop long-term plans that align the organization’s goals with its internal and external
environment.
To oversee day-to-day operations and manage immediate tasks.
...
MAN 320F Final Exam Study Guide
Questions and Answers Rated A+
What is the primary objective of strategic management?
✔✔ To develop long-term plans that align the organization’s goals with its internal and external
environment.
✘ To oversee day-to-day operations and manage immediate tasks.
✘ To enforce company policies and regulations.
✘ To handle customer service issues and complaints.
Which management function involves setting goals and planning how to achieve them?
✔✔ Planning
✘ Organizing
✘ Leading
✘ Controlling
What is the role of “organizational structure” in management?
✔✔ It defines the hierarchy and reporting relationships within an organization.
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,✘ It determines the company’s marketing strategy.
✘ It outlines employee job descriptions.
✘ It focuses on employee training and development.
How does “operational planning” differ from “strategic planning”?
✔✔ Operational planning focuses on short-term goals and day-to-day operations, while strategic
planning addresses long-term objectives.
✘ Operational planning is concerned with setting company-wide policies, while strategic
planning deals with specific departmental goals.
✘ Operational planning is conducted by middle managers, while strategic planning is for lower-
level managers.
✘ There is no difference; both terms are interchangeable.
What is the purpose of a “SWOT analysis” in strategic management?
✔✔ To identify strengths, weaknesses, opportunities, and threats that affect the organization’s
strategy.
✘ To evaluate financial statements and budgets.
✘ To assess employee performance and productivity.
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,✘ To review customer satisfaction and feedback.
Which leadership style involves making decisions without input from others?
✔✔ Autocratic
✘ Democratic
✘ Laissez-faire
✘ Transformational
What is “change management” and why is it important?
✔✔ It involves preparing and supporting employees through organizational changes to ensure
successful implementation.
✘ It focuses on changing company policies and regulations.
✘ It deals with handling customer complaints about changes.
✘ It is concerned with changing the company’s physical workspace.
What does “performance appraisal” assess in an organization?
✔✔ It evaluates an employee’s job performance and contributions to the organization.
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, ✘ It reviews the company's financial performance.
✘ It measures the effectiveness of marketing strategies.
✘ It assesses the quality of the organization’s products or services.
How can “market segmentation” improve marketing efforts?
✔✔ By dividing the market into distinct groups with similar needs to tailor marketing strategies
effectively.
✘ By increasing the overall marketing budget.
✘ By focusing solely on existing customers rather than potential new ones.
✘ By standardizing marketing approaches across all customer groups.
What is “financial forecasting” used for in business management?
✔✔ To predict future financial conditions and performance based on current and past data.
✘ To manage day-to-day cash flow and expenses.
✘ To set immediate operational goals and objectives.
✘ To conduct performance reviews of employees.
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