Chapter 7. Management Roles, Functions, and Skills Part 1

Management is the process of planning, organizing,l eading, and controlling to meet organizational goals.

• True

• False

High-level managers rely heavily on subordinates to collect, analyze, and summarize information

• True

• False

The executive dashboard is a tool that provides quick-read summaries of vital performance variables.

• True

• False

Setting the prices of new products is a fairly routine decision that managers make.

• True

• False

Selecting an individual for employment from a pool of job applicants is an example of an interpersonal role of management.

• True

• False

A mission statement is a statement of the operational goals of the organization.

• True

• False

A vision statement is a brief description of a company's present status in the market.

• True

• False

Strengths and weaknesses are internal factors that contribute to a company's success or failure.

• True

• False

An economic slowdown is viewed as a weakness in the SWOT analysis of a firm.

• True

• False

Qualitative managerial forecasts involve historical data and complex statistical computations.

• True

• False