MGT 2050 MIDTERM EXAM QUESTIONS
WITH CORRECT ANSWERS
\.competitive advantage - ANSWERS✔-the ability of an organization to produce
goods or services more effectively than competitors do, thereby outperforming
them
\.conceptual skills - ANSWERS✔-consist of the ability to think analytically, to
visualize an organization as a whole and understand how to parts work together
\.Effective - ANSWERS✔-the ends. To achieve results, to make the right decisions
and to successfully carry them out so that they achieve the organization's goals
\.Efficient - ANSWERS✔-The means. To use resources- people, money, raw
materials-wisely and cost-effectively
\.Entrepreneur - ANSWERS✔-someone who sees a new opportunity for a product
of service and launches a business to try to realize it
\.functional managers - ANSWERS✔-responsible for just one organizational
activity
,\.human skills - ANSWERS✔-consist of the ability to work well in cooperation with
other people to get things done
\.management process - ANSWERS✔-planning, organizing, leading and controlling
\.Organizing - ANSWERS✔-arranging tasks, people, and other resources to
accomplish the work
\.Leading - ANSWERS✔-motivating, directing, and otherwise influencing people to
work hard to achieve the organization's goals
\.Controlling - ANSWERS✔-monitoring performance, comparing it with goals, and
taking corrective action as needed
\.technical skills - ANSWERS✔-consist of the job-specific knowledge needed to
perform well in a specialized field
\.Top Managers - ANSWERS✔-make long-term decisions about the overall
direction of the organization and establish the objectives, policies, and strategies
for it
\.Middle Managers - ANSWERS✔-implement the policies and plans of the top
managers above them and supervise and coordinate the activities of the first-line
managers below them
, \.First line Managers - ANSWERS✔-make short-term operating decisions, directing
the daily tasks of non managerial personnel
\.Team Leaders - ANSWERS✔-a manager who is responsible for facilitating team
activities toward achieving key results
\.behavioral science - ANSWERS✔-Relies on scientific research for developing
theories about human behavior that can be used to provide practical tools for
managers
\.closed system - ANSWERS✔-has little interaction with its environment
\.contemporary perspective - ANSWERS✔-(1960s- present) systems, contingency,
quality management
\.Systems viewpoint - ANSWERS✔-regards the organization as systems of
interrelated parts that operate together to achieve a common purpose
\.Contingency viewpoint - ANSWERS✔-emphasizes that a manager's approach
should vary according to the individual and environmental situation
\.historical perspective (1911-1950s) - ANSWERS✔-classical, behavioral,
quantitative
WITH CORRECT ANSWERS
\.competitive advantage - ANSWERS✔-the ability of an organization to produce
goods or services more effectively than competitors do, thereby outperforming
them
\.conceptual skills - ANSWERS✔-consist of the ability to think analytically, to
visualize an organization as a whole and understand how to parts work together
\.Effective - ANSWERS✔-the ends. To achieve results, to make the right decisions
and to successfully carry them out so that they achieve the organization's goals
\.Efficient - ANSWERS✔-The means. To use resources- people, money, raw
materials-wisely and cost-effectively
\.Entrepreneur - ANSWERS✔-someone who sees a new opportunity for a product
of service and launches a business to try to realize it
\.functional managers - ANSWERS✔-responsible for just one organizational
activity
,\.human skills - ANSWERS✔-consist of the ability to work well in cooperation with
other people to get things done
\.management process - ANSWERS✔-planning, organizing, leading and controlling
\.Organizing - ANSWERS✔-arranging tasks, people, and other resources to
accomplish the work
\.Leading - ANSWERS✔-motivating, directing, and otherwise influencing people to
work hard to achieve the organization's goals
\.Controlling - ANSWERS✔-monitoring performance, comparing it with goals, and
taking corrective action as needed
\.technical skills - ANSWERS✔-consist of the job-specific knowledge needed to
perform well in a specialized field
\.Top Managers - ANSWERS✔-make long-term decisions about the overall
direction of the organization and establish the objectives, policies, and strategies
for it
\.Middle Managers - ANSWERS✔-implement the policies and plans of the top
managers above them and supervise and coordinate the activities of the first-line
managers below them
, \.First line Managers - ANSWERS✔-make short-term operating decisions, directing
the daily tasks of non managerial personnel
\.Team Leaders - ANSWERS✔-a manager who is responsible for facilitating team
activities toward achieving key results
\.behavioral science - ANSWERS✔-Relies on scientific research for developing
theories about human behavior that can be used to provide practical tools for
managers
\.closed system - ANSWERS✔-has little interaction with its environment
\.contemporary perspective - ANSWERS✔-(1960s- present) systems, contingency,
quality management
\.Systems viewpoint - ANSWERS✔-regards the organization as systems of
interrelated parts that operate together to achieve a common purpose
\.Contingency viewpoint - ANSWERS✔-emphasizes that a manager's approach
should vary according to the individual and environmental situation
\.historical perspective (1911-1950s) - ANSWERS✔-classical, behavioral,
quantitative
