Business Management Exam 1 Questions
Answered Correctly (Qs) 2026 update
Four Management Functions - CORRECT ANSWERS 1. Planning
2. Organizing
3. Leading
4. Controlling
Management Skills - CORRECT ANSWERS 1. Conceptual- ability to see the organization as a
whole system
2. Human Skills- Managers ability to work with the entire group.
3. Technical Skills- Understanding of and proficiency in the performance of specific tasks.
Different levels of manager (Vertical) - CORRECT ANSWERS -Top manager - setting
organizational goals, defining strategies for achieving them, monitoring and interpreting the external
environment
-Middle managers - implementing the overall strategies and policies defined by top managers,
concerning with the near future.
-First-line managers - Production of goods and services.
Horizontal Differences - CORRECT ANSWERS i. Functional managers
1. Responsible for a department that performs a single functional task, such as finance or marketing
ii. General managers
1. Responsible for several departments that perform different functions, such as the manager of Macy's
department store or a Ford automobile factory.
, Becoming a New Manager - CORRECT ANSWERS a. Making the shift from individual identity
to manager identity
i. Specialist; performs tasks à generalist; coordinates diverse tasks
ii. Gets things done through own efforts à gets things done through others
iii. An individual actor à a network builder
iv. Works relatively independently à works in highly interdependent manner
Manager roles - CORRECT ANSWERS -Informational role - activities used to maintain and
develop an information network.
-Interpersonal role - relationships with others and are related to the human skills
-decisional role - events about which the manager must make a choice and take action
Social Forces: - CORRECT ANSWERS Values, needs, standards of behavior influence → Social
Contract
Examples of Current Social Forces- Workers want
Flexible environment
Career Opportunity
Feel valued, able to influence company
Political Forces - CORRECT ANSWERS legal and political influence
-Political Stability
-property rights
-contract rights
-regulation
Economic Forces - CORRECT ANSWERS -Availability and distribution of resources
-Changes in supply and demand
Answered Correctly (Qs) 2026 update
Four Management Functions - CORRECT ANSWERS 1. Planning
2. Organizing
3. Leading
4. Controlling
Management Skills - CORRECT ANSWERS 1. Conceptual- ability to see the organization as a
whole system
2. Human Skills- Managers ability to work with the entire group.
3. Technical Skills- Understanding of and proficiency in the performance of specific tasks.
Different levels of manager (Vertical) - CORRECT ANSWERS -Top manager - setting
organizational goals, defining strategies for achieving them, monitoring and interpreting the external
environment
-Middle managers - implementing the overall strategies and policies defined by top managers,
concerning with the near future.
-First-line managers - Production of goods and services.
Horizontal Differences - CORRECT ANSWERS i. Functional managers
1. Responsible for a department that performs a single functional task, such as finance or marketing
ii. General managers
1. Responsible for several departments that perform different functions, such as the manager of Macy's
department store or a Ford automobile factory.
, Becoming a New Manager - CORRECT ANSWERS a. Making the shift from individual identity
to manager identity
i. Specialist; performs tasks à generalist; coordinates diverse tasks
ii. Gets things done through own efforts à gets things done through others
iii. An individual actor à a network builder
iv. Works relatively independently à works in highly interdependent manner
Manager roles - CORRECT ANSWERS -Informational role - activities used to maintain and
develop an information network.
-Interpersonal role - relationships with others and are related to the human skills
-decisional role - events about which the manager must make a choice and take action
Social Forces: - CORRECT ANSWERS Values, needs, standards of behavior influence → Social
Contract
Examples of Current Social Forces- Workers want
Flexible environment
Career Opportunity
Feel valued, able to influence company
Political Forces - CORRECT ANSWERS legal and political influence
-Political Stability
-property rights
-contract rights
-regulation
Economic Forces - CORRECT ANSWERS -Availability and distribution of resources
-Changes in supply and demand
