Mgmt 3013: Exam 1- Oklahoma State University Questions and Correct Answers 2025/2026

Mgmt 3013: Exam 1- Oklahoma State University Questions and Correct Answers 2025/2026 Organization - Answer -Group of people who work together to achieve some specific purpose Management - Answer -Pursuit of organizational goals efficiently and effectively by integrating work of people through, planning, organizing, and controlling the organization's resources. Efficient - Answer -People, money, raw materials and like-wisely and cost- effectively. Effective - Answer -Achieve results, achieve organizations goals. Planning - Answer -You set goals and decide how to achieve them. Organizing - Answer -You arrange tasks, people and other resources to accomplish the work. Controlling - Answer -You monitor performance, compare it with goals and take corrective action as needed. Leading - Answer -You motivate, direct and otherwise influence people to work hard to achieve the organizations goals.Competitive Advantage - Answer -Ability of an organization to produce goods or services more effectively than competitors do- outperforming them. Managing for Competitive Advantage - Answer -Being responsive to customers, innovation, quality, efficiency. Sustainability - Answer -Economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Levels and Areas of Management - Answer -Top managers, Middle managers, First- line managers and Non-managerial personnel. R&D, Marketing, Finance, Production and Human resources. Top Managers - Answer -Make long-term decisions about the overall direction of the organization and establish the objectives, policies and strategies for it. Middle managers - 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. "High touch" Jobs - Answer -Dealing with people rather than computer screens or voice- response systems. First- line managers - Answer -Make short- term operati