MGMT 301 Exam 1 Study Guide |
Verified Questions & Answers |
Complete Exam Prep | A+ Guaranteed |
Updated 2026
Planning (original definition) -CORRECT setting goals and deciding how to
achieve them"
"Planning (new definition) -CORRECT coping with uncertainty by formulating
future courses of action to achieve specified results"
"Business Plan -CORRECT Outlines a firm's goals, the strategies to achieve them,
and the standards for measuring success"
"Business Model -CORRECT Outline the needs the firm will fill, operations of the
business, its components and functions, and expected expenses and revenues"
"Strategy -CORRECT large-scale action plan that sets the direction for the firm"
"Defenders -CORRECT experts at producing and selling narrowly defined products
or services"
"Prospectors -CORRECT focus on developing new products or services and
seeking out new markets, rather than waiting for things to happen"
"Analyzers -CORRECT let other organizations take the risk of product development
and marketing and then imitate (or perhaps slightly improve on) what seems to work
best"
"Reactors -CORRECT make adjustments only when finally forced to by
environmental pressures"
"Mission statement -CORRECT expresses the purpose of the organization"
"Vision statement -CORRECT expresses what the organization should become,
where it wants to go strategically"
,"Strategic Planning -CORRECT determine what the organization's long-term goals
should be for the next 1-5 years with the resources they expect to have available
(top management)"
"Tactical Planning -CORRECT determine what contributions their department or
similar work units can make with their given resources in the next 6-24 months
(middle management)"
"Operational planning -CORRECT determine how to accomplish specific tasks in
the next 1-52 weeks (first-line management)"
"Management by Objectives -CORRECT a four-step process in which (1)
managers and employees jointly set objectives for the employee, (2) managers
develop action plans, (3) managers and employees periodically review the
employee's performance, and (4) the manager makes a performance appraisal and
rewards the employee according to results"
"Cascading objectives -CORRECT MBO works by cascading objectives down
through the organization; this is, objectives are strutted in a unified hierarchy,
becoming more specific at lower levels of the organization"
"Planning/Control Cycle -CORRECT has two planning steps (1 and 2) and two
control steps (3 and 4)"
"1st Step of Planning/Control Cycle -CORRECT Make the plan"
"2nd Step of Planning/Control Cycle -CORRECT Carry out the plan"
"3rd Step of Planning/Control Cycle -CORRECT Control the direction by
comparing the results with the plan"
"4th Step of Planning/Control Cycle -CORRECT Control the direction in two ways,
(a) by correcting deviations in the plan being carried out (return to step 2) or (b) by
improving future plans (go to step 1 to start over)"
"Peter Drucker -CORRECT The creator and inventor of modern management
Wrote "The Practice of Management""
"Jeffrey Pfeffer -CORRECT evidence-based management
"facing hard facts, rejecting nonsense""
"Robert Sutton -CORRECT evidence-based management
"facing hard facts, rejecting nonsense""
, "Frederick W. Taylor -CORRECT scientific management
The Four Principles of Scientific Management"
"The Gilbreths -CORRECT scientific management
industrial engineers
time and motion studies"
"Henri Fayol -CORRECT first to systemize management
author of "General and Industrial Management"
Administrative Management"
"Max Weber -CORRECT Bureaucracy
Administrative Management"
"Hugo Munsterburg -CORRECT "the father of industrial psychology"
Early Behaviorism"
"Mary Parker-Follet -CORRECT power sharing between employees & managers
Early Behaviorism"
"Elton Mayo -CORRECT "Hawthorne Experiments"
Early Behaviorism"
"Abraham Maslow -CORRECT Maslow's Hierarchy of Needs
Human Relations Movement
physiological, safety, love, esteem, and self-actualization"
"Douglas McGregor -CORRECT Human Relations Movement
Theory X and Theory Y"
"Gary Hamel -CORRECT Contingency Viewpoint"
"W. Edward Deming -CORRECT TQM
"constancy of purpose" - focus on mission
85/15 Rule - 85% chance of system's fault, 15% chance of worker's fault"
"Joseph M. Juran -CORRECT TQM
"fitness for use"
concentrate on real needs of customers"
"Archie B. Carroll -CORRECT Corporate Social Responsibility (Pyramid)
First: being a good global corporate citizen
Last: making a profit"
Verified Questions & Answers |
Complete Exam Prep | A+ Guaranteed |
Updated 2026
Planning (original definition) -CORRECT setting goals and deciding how to
achieve them"
"Planning (new definition) -CORRECT coping with uncertainty by formulating
future courses of action to achieve specified results"
"Business Plan -CORRECT Outlines a firm's goals, the strategies to achieve them,
and the standards for measuring success"
"Business Model -CORRECT Outline the needs the firm will fill, operations of the
business, its components and functions, and expected expenses and revenues"
"Strategy -CORRECT large-scale action plan that sets the direction for the firm"
"Defenders -CORRECT experts at producing and selling narrowly defined products
or services"
"Prospectors -CORRECT focus on developing new products or services and
seeking out new markets, rather than waiting for things to happen"
"Analyzers -CORRECT let other organizations take the risk of product development
and marketing and then imitate (or perhaps slightly improve on) what seems to work
best"
"Reactors -CORRECT make adjustments only when finally forced to by
environmental pressures"
"Mission statement -CORRECT expresses the purpose of the organization"
"Vision statement -CORRECT expresses what the organization should become,
where it wants to go strategically"
,"Strategic Planning -CORRECT determine what the organization's long-term goals
should be for the next 1-5 years with the resources they expect to have available
(top management)"
"Tactical Planning -CORRECT determine what contributions their department or
similar work units can make with their given resources in the next 6-24 months
(middle management)"
"Operational planning -CORRECT determine how to accomplish specific tasks in
the next 1-52 weeks (first-line management)"
"Management by Objectives -CORRECT a four-step process in which (1)
managers and employees jointly set objectives for the employee, (2) managers
develop action plans, (3) managers and employees periodically review the
employee's performance, and (4) the manager makes a performance appraisal and
rewards the employee according to results"
"Cascading objectives -CORRECT MBO works by cascading objectives down
through the organization; this is, objectives are strutted in a unified hierarchy,
becoming more specific at lower levels of the organization"
"Planning/Control Cycle -CORRECT has two planning steps (1 and 2) and two
control steps (3 and 4)"
"1st Step of Planning/Control Cycle -CORRECT Make the plan"
"2nd Step of Planning/Control Cycle -CORRECT Carry out the plan"
"3rd Step of Planning/Control Cycle -CORRECT Control the direction by
comparing the results with the plan"
"4th Step of Planning/Control Cycle -CORRECT Control the direction in two ways,
(a) by correcting deviations in the plan being carried out (return to step 2) or (b) by
improving future plans (go to step 1 to start over)"
"Peter Drucker -CORRECT The creator and inventor of modern management
Wrote "The Practice of Management""
"Jeffrey Pfeffer -CORRECT evidence-based management
"facing hard facts, rejecting nonsense""
"Robert Sutton -CORRECT evidence-based management
"facing hard facts, rejecting nonsense""
, "Frederick W. Taylor -CORRECT scientific management
The Four Principles of Scientific Management"
"The Gilbreths -CORRECT scientific management
industrial engineers
time and motion studies"
"Henri Fayol -CORRECT first to systemize management
author of "General and Industrial Management"
Administrative Management"
"Max Weber -CORRECT Bureaucracy
Administrative Management"
"Hugo Munsterburg -CORRECT "the father of industrial psychology"
Early Behaviorism"
"Mary Parker-Follet -CORRECT power sharing between employees & managers
Early Behaviorism"
"Elton Mayo -CORRECT "Hawthorne Experiments"
Early Behaviorism"
"Abraham Maslow -CORRECT Maslow's Hierarchy of Needs
Human Relations Movement
physiological, safety, love, esteem, and self-actualization"
"Douglas McGregor -CORRECT Human Relations Movement
Theory X and Theory Y"
"Gary Hamel -CORRECT Contingency Viewpoint"
"W. Edward Deming -CORRECT TQM
"constancy of purpose" - focus on mission
85/15 Rule - 85% chance of system's fault, 15% chance of worker's fault"
"Joseph M. Juran -CORRECT TQM
"fitness for use"
concentrate on real needs of customers"
"Archie B. Carroll -CORRECT Corporate Social Responsibility (Pyramid)
First: being a good global corporate citizen
Last: making a profit"
