MGMT 3013 UTSA TEST 1 REVIEW QUESTIONS AND
ANSWERS | 2026
What is a Vision Statement? - Answers - Where the organization is heading in the
future; the long term picture of the corporations
What is a Mission Statement? - Answers - The business scope and operation that
distinguishes it from similar types of an organization
Benefits of a mission statement? - Answers - Enhances employee motivation, Company
characteristics, Business purpose that guides the company
MBO - Answers - Management By Objectives
What is MBO? - Answers - A system where managers and employees define goals for
every department, project and person and use them to monitor subsequent
performance.
Steps of MBO - Answers - 1) Set Goals
2) Develop Action Plan
3) Review Progress
4) Appraise Overall Information
repeats the cycle annually
Advantages of MBO? - Answers - -focuses managers and employee effort on activities
that will lead to goal obtainment
-improves performance
-employee motivation
-alligns goals
Disadvantages of MBO? - Answers - -employee cutting corners
-ignore problems
-behaving unethically to meet goals
MBM (Management By Means) - Answers - New way. Methods and processes used to
achieve goals
What is a Franchise? - Answers - a business arrangement where a firm collects up front
and on going fees in exchange for individuals or other firms to offer products and
services under the brand name
Who is the fastest growing franchise in the U.S.? - Answers - Subway
Disadvantages of a franchise? - Answers - -lack of control
, -purchasing of expensive equipment
-expensive and timely start up fee
What is Theory X (old way)? - Answers - Classical perspective;
-humans don't like work
-must be controlled and punished to get employees to put forth effort
-prefer to be directed and wishes to avoid responsibility; little ambition
What is Theory Y (new way)? - Answers - Human Relations
-work is natural
-prefer self control and direction
-learns under proper conditions, seek responsibility
-innovative
Hawthorne Studies challenge the idea
What are symbols in company culture? - Answers - an object, act, event that convey
meaning to others
-mostly non verbal
(ex. cleaning the office, painting the office or building, bringing in new equipment)
What are stories in company culture? - Answers - Narrative based on true events that is
repeated frequently and shared among others.
-helps symbolize the firms visions and values
What is a hero in company culture? - Answers - a figure who exemplifies the deeds,
character, and attributes of a strong culture
-role models for employees
-helps to influence the future employees
What is a slogan in company culture? - Answers - a pharase or sentence that expresses
corporate value
"the happiest place on earth"
What is culture? - Answers - the set of key values, believes, understandings and norms
shared by members of an organization
-helps managers understand that hidden complex aspects of organizational life
-a pattern of shared values or assumptions
-cope with internal and external problems and laugh to new members as the correct
way to think
Trends of achievement culture? - Answers - Focuses on external environment, stable
Trends of adaptability culture? - Answers - Focuses on external environment, Flexible
Trends of involvement culture? - Answers - Focus on internal environment, Flexible
ANSWERS | 2026
What is a Vision Statement? - Answers - Where the organization is heading in the
future; the long term picture of the corporations
What is a Mission Statement? - Answers - The business scope and operation that
distinguishes it from similar types of an organization
Benefits of a mission statement? - Answers - Enhances employee motivation, Company
characteristics, Business purpose that guides the company
MBO - Answers - Management By Objectives
What is MBO? - Answers - A system where managers and employees define goals for
every department, project and person and use them to monitor subsequent
performance.
Steps of MBO - Answers - 1) Set Goals
2) Develop Action Plan
3) Review Progress
4) Appraise Overall Information
repeats the cycle annually
Advantages of MBO? - Answers - -focuses managers and employee effort on activities
that will lead to goal obtainment
-improves performance
-employee motivation
-alligns goals
Disadvantages of MBO? - Answers - -employee cutting corners
-ignore problems
-behaving unethically to meet goals
MBM (Management By Means) - Answers - New way. Methods and processes used to
achieve goals
What is a Franchise? - Answers - a business arrangement where a firm collects up front
and on going fees in exchange for individuals or other firms to offer products and
services under the brand name
Who is the fastest growing franchise in the U.S.? - Answers - Subway
Disadvantages of a franchise? - Answers - -lack of control
, -purchasing of expensive equipment
-expensive and timely start up fee
What is Theory X (old way)? - Answers - Classical perspective;
-humans don't like work
-must be controlled and punished to get employees to put forth effort
-prefer to be directed and wishes to avoid responsibility; little ambition
What is Theory Y (new way)? - Answers - Human Relations
-work is natural
-prefer self control and direction
-learns under proper conditions, seek responsibility
-innovative
Hawthorne Studies challenge the idea
What are symbols in company culture? - Answers - an object, act, event that convey
meaning to others
-mostly non verbal
(ex. cleaning the office, painting the office or building, bringing in new equipment)
What are stories in company culture? - Answers - Narrative based on true events that is
repeated frequently and shared among others.
-helps symbolize the firms visions and values
What is a hero in company culture? - Answers - a figure who exemplifies the deeds,
character, and attributes of a strong culture
-role models for employees
-helps to influence the future employees
What is a slogan in company culture? - Answers - a pharase or sentence that expresses
corporate value
"the happiest place on earth"
What is culture? - Answers - the set of key values, believes, understandings and norms
shared by members of an organization
-helps managers understand that hidden complex aspects of organizational life
-a pattern of shared values or assumptions
-cope with internal and external problems and laugh to new members as the correct
way to think
Trends of achievement culture? - Answers - Focuses on external environment, stable
Trends of adaptability culture? - Answers - Focuses on external environment, Flexible
Trends of involvement culture? - Answers - Focus on internal environment, Flexible
