BUS208: Principles of Management - Saylor
Direct Credit Final Exam Questions and
Answers
What is manager primary challenge? primary challenge is to solve problems creatively,
What is Principles of Management? means by which you actually manage, that is, get
things done through others—individually, in groups, or in organizations.
What do P-O-L-C stand for? P-O-L-C, planning, organizing, leading, control
The fundamental notion of principles of management was developed by Henri Fayol
Strategic Management is the body of knowledge that answers questions about the
development and implementation of good strategies.
strategy is the central, integrated, externally-oriented concept of how an organization will
achieve its objectives.
, BUS208: Principles of Management - Saylor
Direct Credit Final Exam Questions and
Answers
environmental scanning means that planners must be aware of the critical contingencies
facing their organization in terms of economic conditions, their competitors, and their customers
tactical planning is intermediate-range (one to three years) planning that is designed to
develop relatively concrete and specific means to implement the strategic plan.
Strategy Planning involves analyzing competitive opportunities and threats, as well as the
strengths and weaknesses of the organization, and then determining how to position the
organization to compete effectively in their environment.
operational planning generally assumes the existence of organization-wide or subunit
goals and objectives and specifies ways to achieve them. Operational planning is short-range
(less than a year)
organizational design Decisions made about the structure of an organization
controlling involves ensuring that performance does not deviate from standards.
, BUS208: Principles of Management - Saylor
Direct Credit Final Exam Questions and
Answers
three steps of controlling (1) establishing performance standards, (2) comparing actual
performance against standards, and (3) taking corrective action when necessary.
Triple Bottom Line gaining so much attention in the business press
self-enhancement bias The tendency to overestimate our performance and capabilities and
to see ourselves in a more positive light than others see us.
self-effacement bias The tendency to underestimate our performance and capabilities, and
to see events in a way that puts ourselves in a more negative light.
false consensus error How we as human beings overestimate how similar we are to other
people.
Self-fulfilling prophecy This happens when an established stereotype causes one to
behave in a certain way, which leads the other party to behave in a way that confirms the
stereotype.
Direct Credit Final Exam Questions and
Answers
What is manager primary challenge? primary challenge is to solve problems creatively,
What is Principles of Management? means by which you actually manage, that is, get
things done through others—individually, in groups, or in organizations.
What do P-O-L-C stand for? P-O-L-C, planning, organizing, leading, control
The fundamental notion of principles of management was developed by Henri Fayol
Strategic Management is the body of knowledge that answers questions about the
development and implementation of good strategies.
strategy is the central, integrated, externally-oriented concept of how an organization will
achieve its objectives.
, BUS208: Principles of Management - Saylor
Direct Credit Final Exam Questions and
Answers
environmental scanning means that planners must be aware of the critical contingencies
facing their organization in terms of economic conditions, their competitors, and their customers
tactical planning is intermediate-range (one to three years) planning that is designed to
develop relatively concrete and specific means to implement the strategic plan.
Strategy Planning involves analyzing competitive opportunities and threats, as well as the
strengths and weaknesses of the organization, and then determining how to position the
organization to compete effectively in their environment.
operational planning generally assumes the existence of organization-wide or subunit
goals and objectives and specifies ways to achieve them. Operational planning is short-range
(less than a year)
organizational design Decisions made about the structure of an organization
controlling involves ensuring that performance does not deviate from standards.
, BUS208: Principles of Management - Saylor
Direct Credit Final Exam Questions and
Answers
three steps of controlling (1) establishing performance standards, (2) comparing actual
performance against standards, and (3) taking corrective action when necessary.
Triple Bottom Line gaining so much attention in the business press
self-enhancement bias The tendency to overestimate our performance and capabilities and
to see ourselves in a more positive light than others see us.
self-effacement bias The tendency to underestimate our performance and capabilities, and
to see events in a way that puts ourselves in a more negative light.
false consensus error How we as human beings overestimate how similar we are to other
people.
Self-fulfilling prophecy This happens when an established stereotype causes one to
behave in a certain way, which leads the other party to behave in a way that confirms the
stereotype.
