MNGT 3100 Wesson Latest Exam 1 And Answers Already Revised.
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Organization - Answer A group of people working together in a structured & coordinated fashion to achieve a set of goals
Human resources - Answer managerial talent and labor
Financial resources - Answer Capital investments to support ongoing and long-term operations
Physical resou...
MNGT 3100 Wesson Latest Exam 1 And
Answers Already Revised.
Organization - Answer A group of people working together in a structured & coordinated fashion to
achieve a set of goals
Human resources - Answer managerial talent and labor
Financial resources - Answer Capital investments to support ongoing and long-term operations
Physical resources - Answer Raw materials; office and production facilities, and equipment
Information resources - Answer usable data, information linkages
What is management? - Answer A set of activities (planning and decision making, organizing, leading,
and controlling) directed at an organization's resources (human, financial, physical, and information)
with the aim of achieving organizational goals in an efficient and effective manner
efficiently - Answer using resources wisely and in a cost-effective way
Effectively - Answer Making the right decisions and successfully implementing them
What is a manager? - Answer Someone whose primary responsibility is to carry out the management
process
--> plans and makes decisions, organizes, leads, and controls human, financial, physical, and information
resources
Management Process - Answer planning, organizing, leading, controlling
,Planning and Decision Making - Answer Setting the organization's goals and deciding how best to
achieve them
Organizing - Answer coordinating activities and resources
Leading - Answer Motivating and managing people
Controlling - Answer Monitoring and evaluating activities
Top managers - Answer Small group of executives who manage the overall organization. They create
the organization's goals, overall strategy, and operating policies.
Middle managers - Answer Primarily responsible for implementing the policies and plans of top
managers. They also supervise and coordinate the activities of lower level managers.
First line managers - Answer supervise and coordinate the activities of operating employees
Marketing managers - Answer work in areas related to getting consumers and clients to buy the
organization's products or services-new product development, promotion, and distribution
Financial managers - Answer deal primarily with an organization's financial resources—accounting,
cash management, and investments.
Operation managers - Answer Involved with systems that create products and services; production
control, inventory, quality control, plant layout, site selection
HR Manager - Answer Involved with HR activities
Administrative managers - Answer generalists familiar with all functional areas of management and are
not associated with any particular management specialty
, Interpersonal roles - Answer Figurehead, Leader, and Liaison. Managers interact with people inside and
outside their work units.
Informational roles - Answer monitor, disseminator, and spokesperson - managers receive and
communicate information
monitor, disseminator - Answer Monitor gathers info, disseminator shares it
Decisional roles - Answer entrepreneur, disturbance handler, resource allocator, negotiator; related to
making decisions
Figureheads - Answer Represent the company
Liason - Answer A person who serves as a connection between individuals or groups; a go-between
Technical skills - Answer to accomplish or understand the specific kind of work being done in an
organization
Interpersonal skills - Answer to communicate with, understand, and motivate both individuals and
groups
Conceptual skills - Answer to think in the abstract
Diagnostic skills - Answer The manager's ability to visualize the most appropriate response to a
situation
Communication skills - Answer to convey ideas and information effectively to others and to receive the
same effectively from others
Decision making skills - Answer to recognize and define problems and opportunities and then to select
an appropriate course of action to solve problems and capitalize on opportunities
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