BUSINESS MANAGEMENT 101 EXAM STUDY GUIDE
1.Organizations
ANS collections of people who work together and coordinate their actions to achieve a
wide variety of goals
2.Managers
ANS people responsible for supervising the use of an organization's resources to meet its
goals
3.Management
ANS planning
organizing
leading
controlling of human/other resources in order to achieve organizational goals effectively
and efficiently
4.Efficiency vs effectiveness
ANS efficient: using resources well/productively in order to achieve goals effective:
choosing right goals and degree to which they are achieved
5.Management matters because:
ANS
, BUSINESS MANAGEMENT 101 EXAM STUDY GUIDE
1) efficient and effective use of resources means greater relative well being of people in
society
2) helps teach how to deal w bosses and coworkers
3) opens path to well paying job/careers
6. Four Functions of Management*
ANS 1) Planning - choosing goals and courses of action
2) Organizing - make task and authority relationships
3) Leading - motivate and coordinate ppl and groups
4) Controlling - create measuring and monitoring systems to evaluate goals
7. Planning process steps
ANS
1) decide goals to pursue
2) decide courses of action to adopt to attain goals
3) decide how to allocate resources
8. Organizing
ANS group ppl into departments; lay out lines of authority and responsibility; decide how
to coordinate resources
, BUSINESS MANAGEMENT 101 EXAM STUDY GUIDE
9. Organizational structure
ANS formal system of task and reporting relationships that coordinate and motivate
members so that they work together to achieve goals
10. Leading ANS using power, personality, influence, persuasion, and communication
skills to encourage all ppl to perform at high level
11. Controlling ANS outcome of control process is ability to measure performance
accurately and regulate organizational efficiency/effectiveness...
managers decide which goals to measure
12. Decisional roles
ANS 1) entrepreneur
2) disturbance handler
3) resource allocator
4) negotiator
13. Entrepreneur ANS decides which new projects or programs to initiate and invest in
14. Disturbance handler ANS managing unexpected event or crisis
15. Resource allocator ANS assigns resources between functions and divisions, setting
budgets of lower managers
, BUSINESS MANAGEMENT 101 EXAM STUDY GUIDE
16. Negotiator ANS reaching agreements between other managers, unions,
customers, shareholders
17. Interpersonal roles
ANS 1) figurehead
2) leader
3) liaison
18. figurehead ANS symbol of organization's mission and what it is seeking to achieve
19. leader ANS training, counseling, mentoring high employee performance
20. liaison ANS linking and coordinating activities of ppl and groups both in and out of
org
21. department ANS group of managers and employees who work together and
possess similar skills or use same knowledge, tools, technique
22. levels of management
ANS CEO
Top Managers
1.Organizations
ANS collections of people who work together and coordinate their actions to achieve a
wide variety of goals
2.Managers
ANS people responsible for supervising the use of an organization's resources to meet its
goals
3.Management
ANS planning
organizing
leading
controlling of human/other resources in order to achieve organizational goals effectively
and efficiently
4.Efficiency vs effectiveness
ANS efficient: using resources well/productively in order to achieve goals effective:
choosing right goals and degree to which they are achieved
5.Management matters because:
ANS
, BUSINESS MANAGEMENT 101 EXAM STUDY GUIDE
1) efficient and effective use of resources means greater relative well being of people in
society
2) helps teach how to deal w bosses and coworkers
3) opens path to well paying job/careers
6. Four Functions of Management*
ANS 1) Planning - choosing goals and courses of action
2) Organizing - make task and authority relationships
3) Leading - motivate and coordinate ppl and groups
4) Controlling - create measuring and monitoring systems to evaluate goals
7. Planning process steps
ANS
1) decide goals to pursue
2) decide courses of action to adopt to attain goals
3) decide how to allocate resources
8. Organizing
ANS group ppl into departments; lay out lines of authority and responsibility; decide how
to coordinate resources
, BUSINESS MANAGEMENT 101 EXAM STUDY GUIDE
9. Organizational structure
ANS formal system of task and reporting relationships that coordinate and motivate
members so that they work together to achieve goals
10. Leading ANS using power, personality, influence, persuasion, and communication
skills to encourage all ppl to perform at high level
11. Controlling ANS outcome of control process is ability to measure performance
accurately and regulate organizational efficiency/effectiveness...
managers decide which goals to measure
12. Decisional roles
ANS 1) entrepreneur
2) disturbance handler
3) resource allocator
4) negotiator
13. Entrepreneur ANS decides which new projects or programs to initiate and invest in
14. Disturbance handler ANS managing unexpected event or crisis
15. Resource allocator ANS assigns resources between functions and divisions, setting
budgets of lower managers
, BUSINESS MANAGEMENT 101 EXAM STUDY GUIDE
16. Negotiator ANS reaching agreements between other managers, unions,
customers, shareholders
17. Interpersonal roles
ANS 1) figurehead
2) leader
3) liaison
18. figurehead ANS symbol of organization's mission and what it is seeking to achieve
19. leader ANS training, counseling, mentoring high employee performance
20. liaison ANS linking and coordinating activities of ppl and groups both in and out of
org
21. department ANS group of managers and employees who work together and
possess similar skills or use same knowledge, tools, technique
22. levels of management
ANS CEO
Top Managers
