Foundations of Business - Ch 5

Which of the following participates in the business through analyzing their competitive environments and plan, organize, direct, and control the operations of their organizations?

• Stockholders

• Managers

• Regulators

• Agents

• Customers

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

• Organizing

• Planning

• Controlling

• Processing

• Managing

What function of the management process is used to monitor and ensure the organization is meeting its goals?

• Planning

• Controlling

• Leading

• Managing

• Budgeting

The first main component in the planning process is determining goals. What is the next step?

• Developing a strategic mission

• Developing a comprehensive strategy

• )Developing a comprehensive strategy

• Developing an operational plan

• Developing a functioning budget

What type of management process function is being used when a manager motivates the workforce by rewarding them with additional vacation when standards are achieved?

• Leading

• Planning

• Organizing

• Marketing

• Strategizing

Which description identifies the controlling function of the management process?

• Guiding and motivating employees to meet organizational objectives

• Determining how to arrange a firm's resources into a coherent structure

• Scanning the business environment for threats and opportunities

• Monitoring a firm's performance to ensure that it is meeting its goals

• Determining what an organization needs to do and how best to get it done

Comparing actual performance against standards is an example of which function of the management process?

• planning

• organizing

• leading

• controlling

• strategizing

Which type of manager spends most of their time working with and supervising the employees who report to them?

• ) First-line managers

• information managers

• top managers

• chief executive officers

• operations managers

Which level of management is responsible for the overall performance and effectiveness of the firm?

• top managers

• first line managers

• middle managers

• supervisory managers

• human resource managers

Which type of business constituent has titles such as President and CEO?

• first line managers

• top managers

• middle managers

• power brokers

• stockholders