BUS 6600 Module 2 – Chapters 7 & 10 – Advanced Business Studies – 2026 –
Study and Practice Guide
Managers today tend to be... - correct answer ✔✔ Collaborative, emphasize teams and team
building, guide, train, support, motivate, must be globally prepared, must be skilled
communicators and team players
Name the four functions of management. - correct answer ✔✔ planning, organizing, leading,
controlling
Define management. - correct answer ✔✔ the process used to accomplish organizational goals
through planning, organizing, leading, and controlling people and other organizational resources
Define the planning process of organizational management. - correct answer ✔✔ a
management function that includes anticipating trends and determining the best strategies and
tactics to achieve organizational goals and objectives; setting goals
What is the key management function? - correct answer ✔✔ Planning (you must have a good
plan for all other functions to work)
Define the organizing function of management. - correct answer ✔✔ Designing the structure of
the organization and creating conditions and systems in which everyone and everything work
together to achieve the organization's goals and objectives
Allocating resources, assigning tasks, establishing procedures for accomplishing goals, recruiting
and selecting are all parts of which function of management? - correct answer ✔✔ Organizing
Successful organizations today are designed around what? - correct answer ✔✔ Pleasing the
customer at a profit
,What is leading? - correct answer ✔✔ creating a vision for the organization and guiding,
training, coaching, and motivating others to work effectively to achieve the organization's goals
and objectives in a timely manner.
Give examples of the leading function of management. - correct answer ✔✔ Clarifying policies,
guiding and motivating, providing feedback on performance
Today, most managers tend to ______________ employees. This function was once known as
_________________, that is, telling employees exactly what to do. - correct answer ✔✔
empower; directing
What is the controlling function of management? - correct answer ✔✔ involves establishing
clear standards to determine whether or not an organization is progressing toward its goals and
objectives, rewarding people for doing a good job, and taking corrective action if they are not.
Give examples of controlling in management. - correct answer ✔✔ Measuring results against
corporate objectives; monitoring performance relative to standards; taking corrective action
when necessary
Planning involves setting these three things. - correct answer ✔✔ Organizational vision; goals
and objectives
Define a vision. - correct answer ✔✔ an encompassing explanation of why the organization
exists and where it is headed; it is more than a goal.
Define a mission statement. - correct answer ✔✔ is an outline of the fundamental purposes of
the organization.
What should a good mission statement address? - correct answer ✔✔ i. The organization's self-
concept
, ii. Company philosophy
iii. Long-term survival
iv. Customer needs
v. Social responsibility
vi. The nature of the product or service
__________________ are the broad, long-term accomplishments an organization wishes to
attain. - correct answer ✔✔ Goals
Objectives are? - correct answer ✔✔ Specific, short-term statements detailing how to achieve
the organization's goals.
What two fundamental questions does planning address? - correct answer ✔✔ 1. What is the
situation now?
2. How can we get there from here?
Define SWOT analysis. - correct answer ✔✔ A planning tool used to analyze an organization's
strengths, weaknesses, opportunities, and threats.
Strengths and weaknesses are ______________ to the firm. Opportunities and threats are
____________ to the firm. - correct answer ✔✔ Internal; external (cannot always be
anticipated)
"Entry of lower-cost foreign competitors" is an example of what in SWOT analysis? - correct
answer ✔✔ Threat
"Weak market image" is an example of what in SWOT analysis? - correct answer ✔✔ Weakness
Study and Practice Guide
Managers today tend to be... - correct answer ✔✔ Collaborative, emphasize teams and team
building, guide, train, support, motivate, must be globally prepared, must be skilled
communicators and team players
Name the four functions of management. - correct answer ✔✔ planning, organizing, leading,
controlling
Define management. - correct answer ✔✔ the process used to accomplish organizational goals
through planning, organizing, leading, and controlling people and other organizational resources
Define the planning process of organizational management. - correct answer ✔✔ a
management function that includes anticipating trends and determining the best strategies and
tactics to achieve organizational goals and objectives; setting goals
What is the key management function? - correct answer ✔✔ Planning (you must have a good
plan for all other functions to work)
Define the organizing function of management. - correct answer ✔✔ Designing the structure of
the organization and creating conditions and systems in which everyone and everything work
together to achieve the organization's goals and objectives
Allocating resources, assigning tasks, establishing procedures for accomplishing goals, recruiting
and selecting are all parts of which function of management? - correct answer ✔✔ Organizing
Successful organizations today are designed around what? - correct answer ✔✔ Pleasing the
customer at a profit
,What is leading? - correct answer ✔✔ creating a vision for the organization and guiding,
training, coaching, and motivating others to work effectively to achieve the organization's goals
and objectives in a timely manner.
Give examples of the leading function of management. - correct answer ✔✔ Clarifying policies,
guiding and motivating, providing feedback on performance
Today, most managers tend to ______________ employees. This function was once known as
_________________, that is, telling employees exactly what to do. - correct answer ✔✔
empower; directing
What is the controlling function of management? - correct answer ✔✔ involves establishing
clear standards to determine whether or not an organization is progressing toward its goals and
objectives, rewarding people for doing a good job, and taking corrective action if they are not.
Give examples of controlling in management. - correct answer ✔✔ Measuring results against
corporate objectives; monitoring performance relative to standards; taking corrective action
when necessary
Planning involves setting these three things. - correct answer ✔✔ Organizational vision; goals
and objectives
Define a vision. - correct answer ✔✔ an encompassing explanation of why the organization
exists and where it is headed; it is more than a goal.
Define a mission statement. - correct answer ✔✔ is an outline of the fundamental purposes of
the organization.
What should a good mission statement address? - correct answer ✔✔ i. The organization's self-
concept
, ii. Company philosophy
iii. Long-term survival
iv. Customer needs
v. Social responsibility
vi. The nature of the product or service
__________________ are the broad, long-term accomplishments an organization wishes to
attain. - correct answer ✔✔ Goals
Objectives are? - correct answer ✔✔ Specific, short-term statements detailing how to achieve
the organization's goals.
What two fundamental questions does planning address? - correct answer ✔✔ 1. What is the
situation now?
2. How can we get there from here?
Define SWOT analysis. - correct answer ✔✔ A planning tool used to analyze an organization's
strengths, weaknesses, opportunities, and threats.
Strengths and weaknesses are ______________ to the firm. Opportunities and threats are
____________ to the firm. - correct answer ✔✔ Internal; external (cannot always be
anticipated)
"Entry of lower-cost foreign competitors" is an example of what in SWOT analysis? - correct
answer ✔✔ Threat
"Weak market image" is an example of what in SWOT analysis? - correct answer ✔✔ Weakness
