Chapter 1 Management-Introduction to Business

Profit-making business's motive is to 

• make a profit
• provide a service
• be non-profit
• provide of all consumer

Examples of services businesses include

• Barber shop
• Dry cleaners
• doctors
• All of the above

is process of controlling and making decisions about an organization, as well as overseeing others to ensure activities are performed efficiently and effectively

• Management

• Economics

• Supply and Demand

• None of the Above

is a supply of money, labor, materials, and other items that a person or organization can draw from to meet needs

• Resource

• Business

• Supply and Demand

• None of the Above

What is Efficiency?

• Is the art of getting things done, in a lengthy time frame

• It is all about being swift

• People performing or functioning in the best possible manner with the least time and effort

Employees feel____ when given delegated work.

• sad

• angry

• valued

• discriminated

Delegation occurs when managers give______to subordinates

• money

• more trust

• new offices

• more responsibility

An advantage of delegation is:

• more money.

• greater efficiency.

• decreased motivation.

• infighting among staff.

What is delegation?

• Giving authority to subordinates to do a particular task

• Passing down full responsibility to subordinates

• Ordering workers to do certain jobs

• Keeping full control with senior managers

Which of the following is NOT controlled by supervisors and managers?

• Information Resources

• Human Resources

• Financial Resources

• Cultural Resources