Importance of Managment
Make decisions about the use of an organization's resources and are concerned with planning, organizing, staffing, directing, and controlling the organization's activities
Managers
A declaration of an organization's fundamental purpose and basic philosophy is known as a:
Mission
Are very short-term plans that specify what actions individuals, work groups, or departments need to accomplish in order to achieve an organization's tactical plan and ultimately the strategic plan.
Operational plans
Those who focus on obtaining need funds for the successful operation of an organization and using those funds to further organizational goals.Is the process of evaluating and correcting activities to keep an organization on course.
Financial manager
The _____ style of leadership can be a powerful motivator because it demonstrates a great deal of trust and confidence in an employee and allows employees to meet their work demands with little or no interference
Free-rein
If a manager is concerned about doing the work in such a manner that it yields the desired result, then his or her primary managerial concern is: Effectiveness
Effectiveness
Is best described as the result that a firm wishes to achieve
Goal
Dividing work into small units and assigning it to specific individuals is a task related to the management function of :
Organizing
Those who are responsible for planning, pricing and promoting products and making them available to customers through distribution.
Marketing Manager
Is best for stimulating unskilled or unmotivated employees
Autocratic Leadership
If a manager is concerned about doing the work with the least cost and waste possible, then his or her primary managerial concern is:
Efficiency
Are the ends or results desired by an organization that are derived from the organization's mission.
Objectives
Hiring people to carry out the work of an organization is known as
Staffing
In an organization, decisions regarding adding new products, acquiring companies, and moving into foreign markets would most typically be made by:
Top management
Occurs when employees are provided with the ability to take on responsibilities and make decisions about their jobs.
Employee empowerment
Financial Resources
Managers need adequate _____ to pay for essential activities
The top management of Dusk Automobiles Inc. has decided that the company's objective for the next two years will be to expand the overall business internationally. This is an example of:
Strategic Planning
Due to a drop in the sales of its products, a few production employees and sales personnel of Red Fin Products Inc. were laid off. Which aspect of staffing does this scenario illustrate?
Downsizing
Positions such as foremen, supervisors, and office service managers are a part of the _____ of a company.
First-line management
Refer to the ability of an individual to think in abstract terms and to see how parts fit together to form the whole.
Conceptual skills
Determining an organization's objectives and deciding how to accomplish them, a management function is known as:
Planning
Tactical plans usually cover a period of:
One year or less
Providing incentives to employees to motivate them toward achieving organizational objectives relates to the management function of:
Directing
Are responsible for tactical planning that will implement the general guidelines established by top management.
Middle Management
Refer to the ability to identify relevant issues and recognize their importance, understand the relationships between them, and perceive the underlying causes of a situation.
Analytical skills