Intro to Business - Ch. 6 Quiz

Any organization requiring the coordination of resources requires management.

• True

• False

Top-level managers make an organization's strategic decisions that focus on a key idea for using resources in order to take advantage of opportunities.

• True

• False

The first step in the decision-making process is developing options directly.

• True

• False

Directing involves forecasting events and determining the best course of action from a set of options or choices.

• True

• False

For any company, owners and shareholders are the only sources of primary funding.

• True

• False

________ make decisions about the use of an organization's resources and are concerned with planning, organizing, directing, and controlling the organization's activities.

• managers

• shareholders

• creditors

• consumers

If a manager is concerned about doing the work with the least cost and waste possible, then his or her primary managerial concern is

• delegation

• hiring

• efficiency

• effectiveness

Grace manages a beach rental kiosk. Her goal is to run this business in such a way that she achieves the desired result, making a profit and providing her customers with the items they need to enjoy their vacation. Thus, her primary managerial concern is

• efficiency

• effectiveness

• standardization

• innovation

When a manager makes sure there is adequate funding to pay for essential activities, he or she is managing ________ resources.

• human

• intangible

• financial

• production

To earn a profit, managers must acquire, coordinate, and control all of the following resources EXCEPT

• competitive products

• people

• services

• money