Business Management (correct answers)
Organization correct answers a group of people who work together to achieve some
specific purpose
management correct answers pursuit of organizational goals efficiently and effectively
by integrating the work of people through planning, organizing, leading and controlling
the organization's resources
efficient correct answers cheap and wise
effective correct answers get it done
Management process(Four Management Functions) correct answers Planning
Organizing
Leading
Controlling
Competitive Advantage correct answers Ability of an organization to produce goods or
services more effectively than competitors do, thereby outperforming them
Sustainable Competitive Advantage correct answers Must stay ahead in:
Response to customers
Innovation
Quality
Efficiency
Managing for diversity correct answers 1/6 American Workers is foreign born
Maximize the contributions of employees
Diverse in gender, age, race, ethnicity & sexual orientation
Managing for Globalization correct answers verbal expressions & gestures don't have
the same meaning to everyone throughout the world
Managing for I.T. correct answers consumers spend trillions online
e-business: use the internet to facilitate every aspect of the business
Managing for Ethical Standards correct answers balance sales & business w/ethics
safety
environment
sucking up
trash talking
Managing for Sustainability correct answers the Business of Green
U.S. Chamber of Commerce is resistant to climate change legislation
, Managing for Happiness and Meaningfulness correct answers Truly like people, enjoy
mentoring & helping others grow and thrive
Traditional Management Pyramid correct answers Top Manager
Middle Manager
First-Line Manager
Team Leader
Top Manager correct answers long-term decisions about the overall direction of the
organization
establish objectives, policies, & strategies for it
attentive
Middle Manager correct answers Implement policies & plans of the top managers above
them & supervise & coordinate the activities of the First-Line Managers
Organized
Deal w/people
First-Line Managers correct answers Short-term operating decisions (hiring/firing)
direct daily tasks
starting place for managers
Team Leaders correct answers Responsible for facilitating team activities toward
achieving key results
may not have authority over others
resolve conflicts
Functional Management correct answers Responsible for just one organizational activity
General (Line Managers) correct answers Responsible for several organizational
activities
For Profit correct answers formed to make money
measured in gain/loss
Non-Profit correct answers Known as "administrators"
offer services to clients, not to make a profit
for offering services
measured in effectiveness
Mutual Benefit Organizations correct answers for aiding members
advance members' interests
i.e. political parties
measured in effectiveness
Organization correct answers a group of people who work together to achieve some
specific purpose
management correct answers pursuit of organizational goals efficiently and effectively
by integrating the work of people through planning, organizing, leading and controlling
the organization's resources
efficient correct answers cheap and wise
effective correct answers get it done
Management process(Four Management Functions) correct answers Planning
Organizing
Leading
Controlling
Competitive Advantage correct answers Ability of an organization to produce goods or
services more effectively than competitors do, thereby outperforming them
Sustainable Competitive Advantage correct answers Must stay ahead in:
Response to customers
Innovation
Quality
Efficiency
Managing for diversity correct answers 1/6 American Workers is foreign born
Maximize the contributions of employees
Diverse in gender, age, race, ethnicity & sexual orientation
Managing for Globalization correct answers verbal expressions & gestures don't have
the same meaning to everyone throughout the world
Managing for I.T. correct answers consumers spend trillions online
e-business: use the internet to facilitate every aspect of the business
Managing for Ethical Standards correct answers balance sales & business w/ethics
safety
environment
sucking up
trash talking
Managing for Sustainability correct answers the Business of Green
U.S. Chamber of Commerce is resistant to climate change legislation
, Managing for Happiness and Meaningfulness correct answers Truly like people, enjoy
mentoring & helping others grow and thrive
Traditional Management Pyramid correct answers Top Manager
Middle Manager
First-Line Manager
Team Leader
Top Manager correct answers long-term decisions about the overall direction of the
organization
establish objectives, policies, & strategies for it
attentive
Middle Manager correct answers Implement policies & plans of the top managers above
them & supervise & coordinate the activities of the First-Line Managers
Organized
Deal w/people
First-Line Managers correct answers Short-term operating decisions (hiring/firing)
direct daily tasks
starting place for managers
Team Leaders correct answers Responsible for facilitating team activities toward
achieving key results
may not have authority over others
resolve conflicts
Functional Management correct answers Responsible for just one organizational activity
General (Line Managers) correct answers Responsible for several organizational
activities
For Profit correct answers formed to make money
measured in gain/loss
Non-Profit correct answers Known as "administrators"
offer services to clients, not to make a profit
for offering services
measured in effectiveness
Mutual Benefit Organizations correct answers for aiding members
advance members' interests
i.e. political parties
measured in effectiveness
