MAN 3025 Exam 1 UPDATED
QUESTIONS AND CORRECT ANSWERS
Management - CORRECT ANSWER the pursuit of organizational goals efficiently and
effectively by integrating the work of people through planning, organizing, leading, and controlling
the organization's resources
Efficiency - CORRECT ANSWER to use resources -people, money, raw materials, and the like
-wisely and cost-effectively
- the means
Effectiveness - CORRECT ANSWER to achieve results, to make the right decisions and to
successfully carry them out so that they achieve the organization's goals
- the ends
Multiplier effect - CORRECT ANSWER your influence on the organization is multiplied far
beyond the results that can be achieved by just one person acting alone
Rewards of studying management - CORRECT ANSWER 1) You will understand how to deal
with organizations from the outside
2) You will understand how to relate to your supervisors
3) You will understand how to interact with coworkers
4) You will understand how to manage yourself in the workplace
Rewards of Practicing Management - CORRECT ANSWER -You and your employees can
experience a sense of accomplishment
-You can stretch your abilities and magnify your range
-You can build a catalog of successful products or services
-You can become a mentor and help others
4 management functions - CORRECT ANSWER planning, organizing, leading, controlling
,Planning - CORRECT ANSWER setting goals and deciding how to achieve them
Organizing - CORRECT ANSWER arranging tasks, people, and other resources to accomplish
the work
Leading - CORRECT ANSWER motivating, directing, and otherwise influencing people to
work hard to achieve the organization's goals
Controlling - CORRECT ANSWER monitoring performance, comparing it with goals, and
taking corrective action as needed
4 levels of management - CORRECT ANSWER 1. Top managers
2. Middle managers
3. First-line managers
4. Team leaders
Top Managers - CORRECT ANSWER make long-term decisions about the overall direction of
the organization and establish the objectives, policies, and strategies for it
Middle Managers - CORRECT ANSWER 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 - CORRECT ANSWER make short-term operating decisions, directing the
daily tasks of non managerial personnel
Team leaders - CORRECT ANSWER Facilitate team members' activities to help teams achieve
their goals
Functional manager - CORRECT ANSWER responsible for just one organizational activity
General Manager - CORRECT ANSWER responsible for several organizational activities
,For-profit organizations - CORRECT ANSWER for making money
Nonprofit organization - CORRECT ANSWER for offering services
Commonweal organizations - CORRECT ANSWER A nonprofit company that offers service to
all clients within their jurisdictions.
Ex. Fire department, Police, U.S. Postal service, the military etc.
Mutual-benefit organizations - CORRECT ANSWER Aiding members in order to advance their
interests (i.e. Political parties, farm cooperatives, labor unions, trade associations, clubs)
7 challenges managers face - CORRECT ANSWER 1) competitive advantage
2) tech advances ("new normal")
3) inclusion and diversity
4) globalization
5) ethical standards
6) sustainability
7) happiness and meaningfulness
How do companies need to stay ahead for competitive advantage - CORRECT ANSWER 1)
being responsive to employees
2) being responsive to customers
3) innovation
4) quality
5) efficiency
Psychological contract - CORRECT ANSWER Represents your perception of the terms that
govern your exchange relationship with another party
E-commerce - CORRECT ANSWER the buying and selling of goods over the internet
, E-business - CORRECT ANSWER using the internet to facilitate every aspect of running a
business
Cloud computing - CORRECT ANSWER the storing of software and data on gigantic
collections of computers located away from a company's principal site
Big data - CORRECT ANSWER stores of data so vast that conventional database management
systems cannot handle them
Telecommute - CORRECT ANSWER To work from home or remote locations using a variety
of information technologies
Knowledge management - CORRECT ANSWER the implementing of systems and practices to
increase the sharing of knowledge and information throughout an organization
Collaborative computing - CORRECT ANSWER Using state-of-the-art computer software and
hardware, to help people work better together
Sustainable development - CORRECT ANSWER Development that meets the needs of the
present without compromising the ability of future generations to meet their own needs.
Meaningfulness - CORRECT ANSWER The sense of "belonging to and serving something that
you believe is bigger than the self"
Career competencies - CORRECT ANSWER core, knowledge, soft skills, attitudes, other
characteristics
Peter Drucker - CORRECT ANSWER creator and inventor of modern management
Drucker's Ideas for Management - CORRECT ANSWER Workers should be treated as assets.
The corporation could be considered a human community.
There is "no business without a customer."
QUESTIONS AND CORRECT ANSWERS
Management - CORRECT ANSWER the pursuit of organizational goals efficiently and
effectively by integrating the work of people through planning, organizing, leading, and controlling
the organization's resources
Efficiency - CORRECT ANSWER to use resources -people, money, raw materials, and the like
-wisely and cost-effectively
- the means
Effectiveness - CORRECT ANSWER to achieve results, to make the right decisions and to
successfully carry them out so that they achieve the organization's goals
- the ends
Multiplier effect - CORRECT ANSWER your influence on the organization is multiplied far
beyond the results that can be achieved by just one person acting alone
Rewards of studying management - CORRECT ANSWER 1) You will understand how to deal
with organizations from the outside
2) You will understand how to relate to your supervisors
3) You will understand how to interact with coworkers
4) You will understand how to manage yourself in the workplace
Rewards of Practicing Management - CORRECT ANSWER -You and your employees can
experience a sense of accomplishment
-You can stretch your abilities and magnify your range
-You can build a catalog of successful products or services
-You can become a mentor and help others
4 management functions - CORRECT ANSWER planning, organizing, leading, controlling
,Planning - CORRECT ANSWER setting goals and deciding how to achieve them
Organizing - CORRECT ANSWER arranging tasks, people, and other resources to accomplish
the work
Leading - CORRECT ANSWER motivating, directing, and otherwise influencing people to
work hard to achieve the organization's goals
Controlling - CORRECT ANSWER monitoring performance, comparing it with goals, and
taking corrective action as needed
4 levels of management - CORRECT ANSWER 1. Top managers
2. Middle managers
3. First-line managers
4. Team leaders
Top Managers - CORRECT ANSWER make long-term decisions about the overall direction of
the organization and establish the objectives, policies, and strategies for it
Middle Managers - CORRECT ANSWER 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 - CORRECT ANSWER make short-term operating decisions, directing the
daily tasks of non managerial personnel
Team leaders - CORRECT ANSWER Facilitate team members' activities to help teams achieve
their goals
Functional manager - CORRECT ANSWER responsible for just one organizational activity
General Manager - CORRECT ANSWER responsible for several organizational activities
,For-profit organizations - CORRECT ANSWER for making money
Nonprofit organization - CORRECT ANSWER for offering services
Commonweal organizations - CORRECT ANSWER A nonprofit company that offers service to
all clients within their jurisdictions.
Ex. Fire department, Police, U.S. Postal service, the military etc.
Mutual-benefit organizations - CORRECT ANSWER Aiding members in order to advance their
interests (i.e. Political parties, farm cooperatives, labor unions, trade associations, clubs)
7 challenges managers face - CORRECT ANSWER 1) competitive advantage
2) tech advances ("new normal")
3) inclusion and diversity
4) globalization
5) ethical standards
6) sustainability
7) happiness and meaningfulness
How do companies need to stay ahead for competitive advantage - CORRECT ANSWER 1)
being responsive to employees
2) being responsive to customers
3) innovation
4) quality
5) efficiency
Psychological contract - CORRECT ANSWER Represents your perception of the terms that
govern your exchange relationship with another party
E-commerce - CORRECT ANSWER the buying and selling of goods over the internet
, E-business - CORRECT ANSWER using the internet to facilitate every aspect of running a
business
Cloud computing - CORRECT ANSWER the storing of software and data on gigantic
collections of computers located away from a company's principal site
Big data - CORRECT ANSWER stores of data so vast that conventional database management
systems cannot handle them
Telecommute - CORRECT ANSWER To work from home or remote locations using a variety
of information technologies
Knowledge management - CORRECT ANSWER the implementing of systems and practices to
increase the sharing of knowledge and information throughout an organization
Collaborative computing - CORRECT ANSWER Using state-of-the-art computer software and
hardware, to help people work better together
Sustainable development - CORRECT ANSWER Development that meets the needs of the
present without compromising the ability of future generations to meet their own needs.
Meaningfulness - CORRECT ANSWER The sense of "belonging to and serving something that
you believe is bigger than the self"
Career competencies - CORRECT ANSWER core, knowledge, soft skills, attitudes, other
characteristics
Peter Drucker - CORRECT ANSWER creator and inventor of modern management
Drucker's Ideas for Management - CORRECT ANSWER Workers should be treated as assets.
The corporation could be considered a human community.
There is "no business without a customer."
