question

Managers are involved in the ____ function of management when they work on shifting procedures and processes to achieve the organization's goals.

answer

organizing

question

When managers try to inspire and fuel worker creativity, they are involved in the management function of ...

answer

leading

question

Managers are involved in the ___ function of management when they make sure that the organization is making sufficient progress toward achieving its goals and objectives.

answer

controlling

question

Silvia has review the financial statements for the last five years to compare the firm's performance with its goals and has called a meeting with her employees to share the news. Her action's are part of the ___ function of management

answer

controlling

question

Communicating a vision for others to follow, establishing corporate values, promoting corporate ethics, and embracing change are qualities that make a good ...

answer

leader

question

Leaders who welcome suggestions from employees and make them a part of the decision-making process are using the ____ style of leadership

answer

participative

question

What is true regarding the comparison between management and leadership>

answer

Leaders will make changes when it's beneficial to the organization.

question

The first step in the controlling process of the managerial function of controlling consists of....

answer

setting clear performance standards

question

¨Reduce product defects by 10% over the next 6 months¨ is a good example of what?

answer

establishing good performance standards

question

Richard just finished comparing the financial forecasts prepared last year with the company's actual performance over the most recent quarter. After he finishes this task, he will...

answer

communicate the results and deviations to management

question

____ planning converts the tactical objectives of the organization into daily or weekly tasks

answer

operational

question

The managers of Region One decide to establish a road map for the organization, after identifying the direction in which the organization is going and its purpose. The road map is the ...

answer

mission statement

question

In a SWOT analysis what is not considered an organizational threat?

answer

a lack of managerial depth and talent

question

Developing specific employee work assignments and schedules is an example of what?

answer

operational planning

question

Managers who need strong technical skills are responsible for assigning specific jobs to workers and evaluating their daily performance are typically at the _____ level of managment

answer

supervisory

question

A manager who is able to picture the organization as a whole and think in terms of the ¨big picture¨ is said to possess ____ skills

answer

conceptual

question

As executive chairman of Google, Eric Schmidt oversees the company's business strategies. At his management level, Schmidt will likely spend most of his time using ____ skills

answer

conceptual

question

In general, as a manager progresses thru the ranks within an organization, he will require fewer ___ sills but more ___ skills

answer

technical; conceptial

question

Communicating a vision for others to follow, establishing corporate values & ethics, and embracing change are qualities that make a good ___

answer

leader

question

Leaders who welcome suggestions from employees and make them a part of the decision-making process are using the __ style of leadership

answer

participative

question

A true statement regarding the comparison between management and leadership

answer

leaders are accepting of change when it benefits the organization

question

When implementing a knowledge management strategy, one of the first steps is to...

answer

decide what knowledge is the most important for employees to do the best jobs they can

question

At this company, salaries are public knowledge, and workers identify strategic opportunities for both the company and themselves. This is an example of ___ leadership

answer

free-rein

question

A managers nowadays are more likely to...

answer

emphasize teamwork

question

Today's managers must: 6pts

answer

be a skilled communicator and team player, as well as a planner, organizer, motivator, and leader.

question

Although Best Buy managers allow workers to complete their tasks on their own in their own way, the managers are still very much involved in... 2pts

answer

setting goals and monitoring performance

question

A mission statement should address an organization's.. 2pts

answer

customer needs;self-concept

question

Rank, in order, the five steps of the control process. 5pts

answer

1. Establish clear performance standards 2. monitoring and recording actual performance or results 3. comparing results against plans and standards 4. communicating results and deviations to appropriate employees 5. taking corrective action when needed and providing positive feedback

question

skills that involve the ability to perform tasks in a specific discipline or department are

answer

technical skills

question

An organization chart is a useful visual aid because it shows... 2pts

answer

the division of work in an organization;who reports to whom

question

specific, short-term statements detailing how to achieve the organization's goals are...

answer

objectives

question

Problem solving differs from decision making bc it... 2pts

answer

is less formal and usually requires faster action

question

What is management

answer

The process used to accomplish organizational goals thru planning, organizing, leading, and controlling organizational resources

question

The broad, long-term accomplishments an organization wishes to attain

answer

goals

question

What are supervisory managers directly responsible for? 2pts

answer

workers' daily performance; evaluating first line workers' daily performance

question

___ is giving employees the authority to make a decision without consulting the manager and responsibility to respond quickly to customer requests

answer

empowerment

question

What are the 7 steps in the decision-making process?

answer

1. define the situation 2. describe and collect needed information 3. develop alternatives 4. develop agreement among those involved 5. decide which alternative is best 6. do what is indicated (begin implementation) 7. determine whether the decision was a good one, and follow-up

question

Skills that involve the ability to picture the organization as a whole and the relationship among its various parts

answer

conceptual skills

question

Human relations skills are those associated with leadership such as.. (3pts)

answer

delegating, training & development, coaching

question

What is the focus of strategic planning?

answer

looks at the organization as a whole; long-range

question

What is the focus of operational planning?

answer

focusses on specific supervisors, department managers, and individual employees, very short-term

question

What is the focus of tactical planning?

answer

designed to implement the activities and objectives specified in the strategic plan; short-range

question

The process of setting work standards and schedules necessary to implement the company's tactical objectives is...

answer

operational planning

question

Tasks associated with the organizing function of management: 3pts

answer

recruiting, selecting, training, and developing employees; allocating resources, assigning tasks, and establishing procedures for accomplishing goals; preparing a structure showing lines of authority and responsibility

question

What is free-rein leadership?

answer

a leadership style that involves managers setting objectives and employees being relatively free to do whatever it takes to accomplish those objectives

question

When a leader empowers employees, that leader is giving them:

answer

as much freedom as possible to become self-directed and self-motivated

question

What is staffing?

answer

the part of the management function of organizing that involves hiring, motivating, and retaining the best people

question

___ is a management function that involves measuring performance against standards or objectives, followed by identifying, investigating, and correcting any deviations from those standards or objectives

answer

controlling

question

Allocating resources, preparing a structure, recruiting, selecting, and placing employees where they will be most effective are tasks associated with the _____ function of management

answer

organizing

question

____ strive to produce stability, whereas___ embrace and manage change

answer

managers; leaders

question

Common roles more progressive managers play today: 3pts

answer

supporting; team building; motivating

question

___ is the presentation of a company's facts and figures in a way that is clear and apparent to all stakeholders

answer

transparency

question

What would be 2 examples of the internal customers of a company such as Toyota?

answer

the payroll department; employees on the assembly line

question

Kirby is an experienced manager who gathered his team each morning and assigned tasks. Lucy supervised a second team, she didnt tell them what to do but what needs to be done overall. her team constantly showed higher productivity. What dos this example demonstrate

answer

how the roles of managers are changing

question

the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals

answer

strategic planning

question

Enabling employees so they can be empowered successfully means.. 3pts

answer

assuring that they have the correct education; training them to do the job; giving them need coaching

question

Strategic planning is done by ___ ___ ___

answer

top level management

question

The management function that involves creating a vision for the organization, communicating it to others, and motivating them to achieve goals is ___

answer

leading

question

The process of developing detailed, short-term statements about what is to be done, who is to do it, and how

answer

tactical planning

question

Tactical plans that are detailed and short term state.. 3pts

answer

what is to be done; who is to do it; how it will be done

question

by which level of management is tactical planning usually done? 2pts

answer

lower level managers; teams of lower level managers

question

the management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything works together to achieve the organization's goals and objectives is...

answer

organizing

question

What is planning? 3pts

answer

a management function that includes anticipating trends and determining the best strategies and tactics to achieve organization goals and objectives; setting the organization's vision (mission statement); Continuous process but also normally follows a pattern

question

What are planning teams?

answer

having people help monitor the environment, find business opportunities, and watch for challenges

question

Why is planning a key function of management?

answer

the other functions depend heavily on it

question

What is organizing?

answer

a management-function that includes designing the structure of the organization and creating conditions in which everyone and everything work together to achieve the organization's goals and objectives.

question

What is leading?

answer

management-function creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives (in a timely manner)

question

What is directing?

answer

telling employees exactly what to do

question

Why don't most large firms use directing anymore?

answer

because employees often how more than their bosses

question

What is controlling? 4pts

answer

a management-function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not. Basically, it means measuring whether what actually occurs meets the organization's goals

question

What is a vision?

answer

an encompassing explanation of why the organization exists and where it's trying to head.

question

What is a mission-statement?

answer

an outline of the fundamental purposes of an organization; The foundation for setting specific goals and objectives

question

What should a mission-statement address? 5pts

answer

- the organization's self-concept - its philosophy - long-term survival needs - social responsibility - nature of the product or service

question

What are goals?

answer

the broad, long-term accomplishments an organization wishes to attain; setting them is often a team process

question

What are objectives?

answer

specific, short-term statements detailing how to achieve the organization's goals.

question

3 fundamental questions of planning (procedure you and your business will follow)

answer

What is the situation now; weaknesses and strengths; how can we get to our goal from here

question

What are the four forms of planning?

answer

strategic, tactical, operational, and contingency

question

What is strategic planning?

answer

the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.

question

what are policies?

answer

broad guidelines for action

question

what are strategies?

answer

determine the best way to use resources

question

at the strategic planning stage.. 4pts

answer

top managers of the company decide which customers to serve, when to serve them, what products or services to sell, and the geographic areas in which to compete.

question

What is the goal of strategic planning?

answer

to be flexible and responsive to the market

question

What is tactical planning?

answer

the process of developing detailed, short-term statement about what is to be done, who is to do it, and how it is to be done.

question

who normally does tactical planning?

answer

lower level managers

question

What is contingency planning?

answer

the process of preparing alternative courses of action that may be used if the primary plans don't achieve the organization's objective; Back up plans in case primary plans fail

question

What is operational planning?

answer

the process of setting work standards and schedules necessary to implement the company's tactical objectives

question

Whom does operational planning focus on? 3pts

answer

Focuses on specific supervisors, department managers, and individual employees.

question

Strategic planning involves the setting of ... by..

answer

broad long-range goals; top managers

question

Tactical planning involves the identification of ..... by ..

answer

specific, short-range objectives; lower-level managers

question

What is the danger involved with the fact that very few firms bother to use contingency planning?

answer

If something changes the market, such companies may be slow to respond

question

What is decision-making?

answer

choose among two or more alternatives

question

What are the steps involved in the rational decision making model? 7pts

answer

1. Define the situation 2. Describe and collect needed information 3. Develop alternatives 4. Develop agreement among those involved 5. Decide which alternative is best 6. Do what is indicated (begin implementation) 7. Determine whether the decision was a good one, and follow up

question

What is problem solving?

answer

the process of solving the everyday problems that occur. It is less formal than decision making and usually calls for quicker action.

question

What is PMI?

answer

Listing all the plusses for a solution in one column, all the minuses in another, and all the implications in the third.

question

What is the idea behind PMI?

answer

to have the plusses exceed the minuses

question

What is an organizational chart?

answer

a visual device that shows relationships among people and divides the organization's work; it shows who reports to whom.

question

What are the levels of management? 3pts

answer

top management; middle management; supervisory management

question

What is top management?

answer

the highest level of management, consisting of the president and other key company executives who develop strategic plans.

question

middle management

answer

the level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical-planning and controlling.

question

supervisory management

answer

managers who are directly responsible for supervising workers and evaluating their daily performance.

question

What three categories of skills must a manager have? 3pts

answer

technical skills; human relations skills; conceptual skills

question

technical skills

answer

skills that involve the ability to perform tasks in a specific discipline or department

question

human relations skills

answer

skills that involve communication and motivation; they enable managers to work through and with people

question

conceptual skills

answer

skills that involve the ability to picture the organization as a whole and the relationship among its various parts.

question

what is staffing?

answer

a management-function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives.

question

What is leadership?

answer

creating a vision for others to follow, establishing corporate values and ethics, and transforming the way the organization does business in order to improve its effectiveness and efficiency.

question

What 5 things must a leader do (in order to motivate workers and create the environment for them to motivate others and carrying out the leader's vision)

answer

communicate a vision and rally others around that vision; establish corporate values; promote corporate ethics; embrace change; stress accountability and responsibility

question

What is participative leadership?

answer

leadership style that consists of managers and employees working together to make decisions

question

What is the key to empowerment?

answer

enabling

question

What is enabling?

answer

giving workers the education and tools they need to make decisions

question

knowledge management

answer

finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm

question

What is the control process? (definition)

answer

provides feedback that lets managers and workers adjust to deviations from plans and to changes in the environment that have affected performance.

question

What is the control process 6pts?

answer

1. establish clear standards 2. monitor and record performance 3. compare results against standards against plans and standards 4. communicate results 5. if needed take corrective action ... (feedback) are standards realistic?

question

With ______, performance measurement is relatively easy and the proper action can be taken. why?

answer

clear standards; the control process/process is based on clear standards

question

In order to measure results, what must be true about the standards and goals?

answer

in order to measure the results, the standards must be specific, attainable, and measurable. detailed and not broad

question

setting clear standards is apart of which function of management?

answer

planning

question

What are often the foundations for control systems? why?

answer

accounting and finance; they provide the numbers to evaluate progress

question

What measures a company's success? 4pts or so

answer

financial, pleasing employees, stakeholders, and customers, both external and internal customers

question

external customers

answer

dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

question

internal customers

answer

individuals and units within the firm that receive services from other individuals or units.

question

An example (well memorized because it can contradict another question) of internal customers

answer

the field salespeople are the internal-customers of the marketing research people who prepare market reports for them.

question

What does management look like today?

answer

Managers tend to be more progressive (Promoting or favoring progress toward better conditions or new policies, ideas, or methods) For example, they emphasize teams and team building; they create drop-in centers, team spaces, and open work areas. They tend to guide, train, support, motivate, and coach employees rather than tell them what to do.

question

What reasons account for changes in management?

answer

Leaders of fortune 100 companies today tend to be younger, more female, less elite universities. They know their employyes sometimes know more

question

What are the primary functions of management?

answer

planning, organizing, leading, controlling

question

What is an organizational chart?

answer

a visual device that shows relationships among people and divides the organization's work; it shows who is accountable for the completion of specific work and who reports to whom

question

Are the skills needed to be a manager equally important at all management levels?

answer

no. top managers rely heavily on human relations and conceptual skills and rarely use technical skills. while first-line supervisors need strong technical and human relations skills but use conceptual skills less often. Middle managers need a balance of all three.

question

What's the difference between a manager and a leader?

answer

a manager plans, organizes, and controls functions within an organization. A leader has a vision and inspires others to grasp that vision, establishes corporate values, emphasizes corporate ethics, and doesn't fear change

question

Which is the best leadership style?

answer

depends on the people being led. The challenge of the future will be to empower self-managed teams

question

What qualities must standards possess to measure performance results?

answer

Standards must be specific, attainable, and measureable

question

Today's progressive managers:

answer

emphasize teamwork and cooperation rather than discipline and order-giving

question

___ is the management function that involves determining whether an organization is progressing toward its goals, rewarding employees for doing a good job, and taking corrective action when they are not.

answer

controlling

question

Setting contingency plans in an organization is considered very important today mainly because:

answer

conditions change rapidly in today's economic and competitive environments.

question

a ___ is used by an organization to show who is accountable for the completion of specific work and who reports to whom.

answer

organizational chart

Flashcards About Understanding Business Chapter 7

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards