Managing the Business

Which of the following are the four basic functions of​ management?

• Directing, forecasting, leading, and organizing

• Planning, financing, motivating, and directing

• Planning, forecasting, designing, and directing

• Planning, organizing, leading, and controlling

The management function that encompasses development of an organization's goals along with a strategy and tactics for achieving those goals is _______.

• directing

• planning

• organizing

• controlling

To monitor a firm's performance toward goal achievement, a manager should first __________.

• assess the current advertising plan

• revise the mission statement

• establish performance standards

• make recommendations for improvement

Top managers in an organization would likely be involved in which of the following functions?

• Assigning specific jobs to workers and evaluating their daily performance

• Establishing departmental goals to achieve the overreaching goals of the organization

• Establishment of general policies and formulation of strategies

• Supervising the work of employees who report to them

The chief operating officer (COO) of a firm would be categorized as a _______ manager in the organization.

• middle

• first-line

• supervisory

• top

As an entry-level employee in a large financial services firm, you notice that some of the other new employees are arriving to work late and leaving early. The BEST course of action would be to _____________.

• discuss the issue with your first-line manager

• discuss the issue with top management

• mind your own business

• discuss the issue with an upper-level manager

Which management skill would enable a manager to effectively identify a problem or opportunity, evaluate alternative courses of action, and select the most appropriate one?

• Decision-making skills

• Conceptual skills

• Global management skills

• Technical skills

Jessica, the director of the local humane shelter, gives the keynote speech at a national conference on animal welfare.

Which managerial role does this BEST describe?

• Negotiator

• Disseminator

• Resource allocator

• Figurehead

As you look to be promoted in your firm, you find that although you enjoy monitoring developments in your industry and sending out informational memos about new initiatives, you are uncomfortable negotiating agreements and resolving internal and external conflicts. In deciding upon a professional development plan, which category of management roles should you focus on?

• Technical

• Decisional

• Informational

• Financial

Accomplishments that a business intends and plans to achieve are referred to as _______.

• strategies

• directives

• goals

• tactics