Business Management Ch. 1 Review

_______________ means to use resources wisely and cost-effectively

• Efficient

• Effective

______________ means to achieve results, to make the right decisions and successfully carry them out so that managers achieve the organization's goals.

• Efficient

• Effective

Your influence on the organization is multiplied far beyond the results that can be achieved by just one person acting alone.

• Division Effect

• Addition Effect

• Multiplier Effect

Which management function involves setting goals and deciding how to achieve them?

• Planning

• Organizing

• Leading

• Controlling

Which management function involves arranging tasks, people, and other resources to accomplish the work?

• Planning

• Organizing

• Leading

• Controlling

Which management function involves motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals?

• Planning

• Organizing

• Leading

• Controlling

Which management function involves monitoring performance, comparing it with goals, and taking corrective action as needed?

• Planning

• Organizing

• Leading

• Controlling

What is the fifth function, which involves human resources?

• Outsourcing

• Staffing

• Resourcing

• Recruiting

Which level of manager makes long-term decisions about the overall direction of the organization?

• Top Managers

• Middle Managers

• First-Line Managers

Which level of manager establishes the objectives, policies, and strategies for an organization?

• Top Managers

• Middle Managers

• First-Line Managers