MGMT 303 Midterm Study Guide Questions
with correct answers
What is the definition of Management? - VERIFIED ANSWER✔✔-◘Management is the pursuit of
organizational goals efficiently and effectively by integrating the work of people through planning,
organizing, leading, controlling the organization resources.
What is the difference between and efficient manager and an effective one? - VERIFIED ANSWER✔✔-
◘ Efficient- to use resources like people, money raw materials and the like wisely and cost effective.
◘ Effective - achieve results, to make right decisions, and to successfully carry them out so that they
achieve the organizational goals.
What are the four functions of management? - VERIFIED ANSWER✔✔-◘ Planning - you set goals and
decide how to achieve them
◘ Organizing - you arrange task, people, and other resources to accomplish the work
◘ Controlling - you monitor performance, compare it with goals and take corrective action as needed
◘ Leading- you motivate, direct and otherwise influence people to work hard to achieve
organizational goals
What are the rewards of being an exceptional manager? - VERIFIED ANSWER✔✔-- You understand
how to deal with organization from the outside
- you understand how to relate to your supervisors
- you understand how to interact with co workers
- you understand how to manage yourself in the work place
- You and employees understand a sense of accomplishment
- you can stretch your abilities and magnify your range
- you can build a catalog of successful products or services
- you can become a mentor and help others
What are the challenges of being an exceptional manager - VERIFIED ANSWER✔✔-- Competitive
advantage- staying ahead of rivals
, - Diversity- future wont resemble the past
- Globalization- expanding management universe\
- Information Technology - dealing with new normal
- Ethical standards
- Sustainability - business of green
- Managing your own happiness and meaningfulness
What are the 4 levels of management? - VERIFIED ANSWER✔✔-1) Top managers
2) Middle Managers
3) First Line Managers
4) Team Leader
Define each of the 4 levels of management - VERIFIED ANSWER✔✔-◘ Top Manager - make long term
decisions about overall direction of the organization and establish objectives, policies, and strategies
◘ Middle Managers - implement policies and plans of top managers above them and supervise and
coordinate the activities of first line managers
◘ First Line Managers - make shot term operating decisions, directing daily task of non-managerial
personnel
◘ Team Leader- a manager who is responsible for facilitating team activities toward achieving key
results.
Difference between Function and General Manager - VERIFIED ANSWER✔✔-Functional - responsible
for just one activity ( director of finance)
General - Responsible for several organizational activities ( executive vice president)
What skills and roles do managers need? - VERIFIED ANSWER✔✔-1) Technical Skills - job specific
knowledge needed to perform well in a specialized field
2) Conceptual Skills - ability to think analytically, to visualize organization as a whole, understand how
parts work together
3) Human (Soft) skills - ability to work well in cooperation with other people to get things done,
motivate, inspire trust, communicate with others
with correct answers
What is the definition of Management? - VERIFIED ANSWER✔✔-◘Management is the pursuit of
organizational goals efficiently and effectively by integrating the work of people through planning,
organizing, leading, controlling the organization resources.
What is the difference between and efficient manager and an effective one? - VERIFIED ANSWER✔✔-
◘ Efficient- to use resources like people, money raw materials and the like wisely and cost effective.
◘ Effective - achieve results, to make right decisions, and to successfully carry them out so that they
achieve the organizational goals.
What are the four functions of management? - VERIFIED ANSWER✔✔-◘ Planning - you set goals and
decide how to achieve them
◘ Organizing - you arrange task, people, and other resources to accomplish the work
◘ Controlling - you monitor performance, compare it with goals and take corrective action as needed
◘ Leading- you motivate, direct and otherwise influence people to work hard to achieve
organizational goals
What are the rewards of being an exceptional manager? - VERIFIED ANSWER✔✔-- You understand
how to deal with organization from the outside
- you understand how to relate to your supervisors
- you understand how to interact with co workers
- you understand how to manage yourself in the work place
- You and employees understand a sense of accomplishment
- you can stretch your abilities and magnify your range
- you can build a catalog of successful products or services
- you can become a mentor and help others
What are the challenges of being an exceptional manager - VERIFIED ANSWER✔✔-- Competitive
advantage- staying ahead of rivals
, - Diversity- future wont resemble the past
- Globalization- expanding management universe\
- Information Technology - dealing with new normal
- Ethical standards
- Sustainability - business of green
- Managing your own happiness and meaningfulness
What are the 4 levels of management? - VERIFIED ANSWER✔✔-1) Top managers
2) Middle Managers
3) First Line Managers
4) Team Leader
Define each of the 4 levels of management - VERIFIED ANSWER✔✔-◘ Top Manager - make long term
decisions about overall direction of the organization and establish objectives, policies, and strategies
◘ Middle Managers - implement policies and plans of top managers above them and supervise and
coordinate the activities of first line managers
◘ First Line Managers - make shot term operating decisions, directing daily task of non-managerial
personnel
◘ Team Leader- a manager who is responsible for facilitating team activities toward achieving key
results.
Difference between Function and General Manager - VERIFIED ANSWER✔✔-Functional - responsible
for just one activity ( director of finance)
General - Responsible for several organizational activities ( executive vice president)
What skills and roles do managers need? - VERIFIED ANSWER✔✔-1) Technical Skills - job specific
knowledge needed to perform well in a specialized field
2) Conceptual Skills - ability to think analytically, to visualize organization as a whole, understand how
parts work together
3) Human (Soft) skills - ability to work well in cooperation with other people to get things done,
motivate, inspire trust, communicate with others
