BUS208: Principles of Management -
Saylor Direct Credit ACTUAL
QUESTIONS AND CORRECT ANSWERS
What is manager primary challenge? -CORRECT ANSWERS✅✅primary challenge is to
solve problems creatively,
What is Principles of Management? -CORRECT ANSWERS✅✅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? -CORRECT ANSWERS✅✅P-O-L-C, planning, organizing,
leading, control
The fundamental notion of principles of management was developed by -CORRECT
ANSWERS✅✅Henri Fayol
Strategic Management -CORRECT ANSWERS✅✅is the body of knowledge that answers
questions about the development and implementation of good strategies.
strategy -CORRECT ANSWERS✅✅is the central, integrated, externally-oriented concept of
how an organization will achieve its objectives.
environmental scanning -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅Decisions made about the structure of an
organization
controlling -CORRECT ANSWERS✅✅involves ensuring that performance does not deviate
from standards.
three steps of controlling -CORRECT ANSWERS✅✅(1) establishing performance
standards, (2) comparing actual performance against standards, and (3) taking corrective
action when necessary.
Triple Bottom Line -CORRECT ANSWERS✅✅gaining so much attention in the business
press
self-enhancement bias -CORRECT ANSWERS✅✅The tendency to overestimate our
performance and capabilities and to see ourselves in a more positive light than others see us.
self-effacement bias -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅How we as human beings overestimate
how similar we are to other people.
Self-fulfilling prophecy -CORRECT ANSWERS✅✅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.
selective perception -CORRECT ANSWERS✅✅means that we pay selective attention to
parts of the environment while ignoring other parts
Saylor Direct Credit ACTUAL
QUESTIONS AND CORRECT ANSWERS
What is manager primary challenge? -CORRECT ANSWERS✅✅primary challenge is to
solve problems creatively,
What is Principles of Management? -CORRECT ANSWERS✅✅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? -CORRECT ANSWERS✅✅P-O-L-C, planning, organizing,
leading, control
The fundamental notion of principles of management was developed by -CORRECT
ANSWERS✅✅Henri Fayol
Strategic Management -CORRECT ANSWERS✅✅is the body of knowledge that answers
questions about the development and implementation of good strategies.
strategy -CORRECT ANSWERS✅✅is the central, integrated, externally-oriented concept of
how an organization will achieve its objectives.
environmental scanning -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅Decisions made about the structure of an
organization
controlling -CORRECT ANSWERS✅✅involves ensuring that performance does not deviate
from standards.
three steps of controlling -CORRECT ANSWERS✅✅(1) establishing performance
standards, (2) comparing actual performance against standards, and (3) taking corrective
action when necessary.
Triple Bottom Line -CORRECT ANSWERS✅✅gaining so much attention in the business
press
self-enhancement bias -CORRECT ANSWERS✅✅The tendency to overestimate our
performance and capabilities and to see ourselves in a more positive light than others see us.
self-effacement bias -CORRECT ANSWERS✅✅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 -CORRECT ANSWERS✅✅How we as human beings overestimate
how similar we are to other people.
Self-fulfilling prophecy -CORRECT ANSWERS✅✅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.
selective perception -CORRECT ANSWERS✅✅means that we pay selective attention to
parts of the environment while ignoring other parts
