MGT 101 EXAM 1 VERIFIED ACCURATE STUDY GUIDE
Purpose of Management - Answers -to use these resources effectively and efficiently
so that the objectives of the organization are achieved with a minimum of cost. -
Efficiency, Effectiveness, Productivity
Transactional Leaders - Answers -(Managers) get stuff done, kick the can down the
road - use incentives to get people to do things
Transformational Leader - Answers -(True Leaders) change the nature of the business,
most importantly, they focus on doing the right things - what's right for the business, the
stakeholders, the consumers, and the economy - get people to do things because they
want to do them
Planning - Answers -Determining appropriate goals for the firm and deciding how to
accomplish these goals
Organizing - Answers -Assigning responsibility to employees for task achievement to
collaboratively achieve goals
Leading - Answers -Influencing and motivating others to achieve set goals
Controlling - Answers -Monitoring, evaluating, and maintaining desired performance
Levels of Management - Answers -CEO, Upper-Level, Middle-Level, First-Line
Specific Management Skills Examples - Answers -job knowledge, oral communication,
persuasiveness, tolerance of stress
Electronic Business - Answers -Achieving management goals through the use of the
internet
Global Organizations - Answers -Expanding business activities beyond national
boundaries
Management Theory - Answers -a systematic statement based on observations, of how
the management process might best occur, given stated underlying principles
Classical Approach to Management - Answers -stresses the manager's role in a formal
hierarchy of authority and focuses on the task, machines, and systems need to
accomplish the task effciently
Max Weber - Answers -German leader for Classical Approach to Managment, based
his concept off of the Prussian Army
Purpose of Management - Answers -to use these resources effectively and efficiently
so that the objectives of the organization are achieved with a minimum of cost. -
Efficiency, Effectiveness, Productivity
Transactional Leaders - Answers -(Managers) get stuff done, kick the can down the
road - use incentives to get people to do things
Transformational Leader - Answers -(True Leaders) change the nature of the business,
most importantly, they focus on doing the right things - what's right for the business, the
stakeholders, the consumers, and the economy - get people to do things because they
want to do them
Planning - Answers -Determining appropriate goals for the firm and deciding how to
accomplish these goals
Organizing - Answers -Assigning responsibility to employees for task achievement to
collaboratively achieve goals
Leading - Answers -Influencing and motivating others to achieve set goals
Controlling - Answers -Monitoring, evaluating, and maintaining desired performance
Levels of Management - Answers -CEO, Upper-Level, Middle-Level, First-Line
Specific Management Skills Examples - Answers -job knowledge, oral communication,
persuasiveness, tolerance of stress
Electronic Business - Answers -Achieving management goals through the use of the
internet
Global Organizations - Answers -Expanding business activities beyond national
boundaries
Management Theory - Answers -a systematic statement based on observations, of how
the management process might best occur, given stated underlying principles
Classical Approach to Management - Answers -stresses the manager's role in a formal
hierarchy of authority and focuses on the task, machines, and systems need to
accomplish the task effciently
Max Weber - Answers -German leader for Classical Approach to Managment, based
his concept off of the Prussian Army
