MGMT 3500 - Exam 1 Questions with Correct Answers Latest 2025

MGMT 3500 - Exam 1 Questions with Correct Answers Latest 2025 Management - Answers getting work done through others Efficiency - Answers getting work done with a minimum amount of effort, expense, or waste ex: starbucks measures efficiency in terms of transactions per labor hour Effectiveness - Answers accomplishing tasks that help fulfill organizational objectives ex: an objective might be customer service and satisfaction Four Functions of Management - Answers planning, organizing, leading, controlling Four Functions of Management: Planning - Answers determining organizational goals and a means for achieving them Four Functions of Management: Organizing - Answers deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom Four Functions of Management: Leading - Answers inspiring and motivating workers to work hard to achieve organizational goals Four Functions of Management: Controlling - Answers monitoring progress toward goal achievement and taking corrective action when needed Top Managers - Answers executives responsible for the overall direction of the organization - CEO (executive) - COO (operating) - CFO (financial) - CIO (information) Middle Managers - Answers responsible for setting objectives consistent with top management's goals and for planning and implementing subunit strategies for achieving these objectives - plant manager - regional manager - divisional manager First-line Managers - Answers train and supervise the performance of nonmanagerial employees who are directly responsible for producing the company's products or services - monitoring, teaching, and short-term planning - office manager - shift supervisor - department manager Team Leaders - Answers managers responsible for facilitating team activities toward goal accomplishment Managerial Roles: Figurehead - Answers the interpersonal role managers play when they perform ceremonial duties Managerial Roles: Leader - Answers the interpersonal role managers play when they motivate and encourage workers to accomplish organizational objectives Managerial Roles: Liaison - Answers the interpersonal role managers play when they deal with people outside their units Managerial Roles: Monitor - Answers the informational role managers play when they scan their environment for information Managerial Roles: Disseminator - Answers the informational role managers play when they share information with others in their departments or companies Managerial Roles: Spokesperson - Answers the informational role managers play when they share information with people outside their departments or companies Decisional Roles: Entrepreneur - Answers the decisional role managers play when they adapt themselves, their subordinates, and their units to change Decisional Roles: Disturbance Handler - Answers the decisional role managers play when they respond to severe pressures and problems that demand immediate action Decisional Roles: Resource Allocator - Answers the decisional role managers play when they decide who gets what resources and in what amounts Decisional Roles: Negotiator - Answers the decisional role managers play when they negotiate schedules, projects, goals, outcomes, resources, and employee raises What skills do companies looks for in managers - Answers technical skills, human skills, conceptual skills, and motivation to manage What companies look for in managers: Technical Skills - Answers the specialized procedures, techniques, and knowledge required to get the job done What companies look for in managers: Human Skills - Answers the ability to work well with others What companies look for in managers: Conceptual Skills - Answers the ability to see the organization as a whole, understand how the different parts affect each other, and recognize how the company fits into or is affected by its environment What companies look for in managers: Motivation to Manage - Answers an assessment of how enthusiastic employees are about managing the work of others Top Ten Mistakes Managers Make - Answers 1) insensitive to others: abrasive, intimidating,