What is the primary goal of management?

• To increase profits at any cost

• To achieve objectives by using resources effectively and efficiently

• To hire more employees

• To expand the business globally

What does "effectively" mean in the context of management?

• Using the most resources possible

• Having the intended result

• Reducing costs

• Increasing employee satisfaction

What does "efficiently" mean in the context of management?

• Accomplishing objectives with a maximum of resources

• Accomplishing objectives with a minimum of resources

• Accomplishing objectives without any resources

• Accomplishing objectives with unlimited resources

What is one of the roles of managers?

• To make decisions about the use of resources

• To design marketing campaigns

• To develop new products

• To conduct employee training

What is the process called through which employees are hired?

• Downsizing

• Staffing

• Training

• Compensating

What might a company need to do if it has too many employees?

• Recruit

• Train

• Downsize

• Compensate

Which of the following is NOT a part of fostering employee loyalty?

• Recruiting

• Downsizing

• Training

• Compensating

What is the role of suppliers in management?

• To ensure products are made available to customers

• To manage employee relations

• To develop marketing strategies

• To oversee financial audits

In global markets, what do firms do regarding suppliers?

• They enlist hundreds of diverse suppliers

• They focus on a single supplier

• They avoid using suppliers

• They only use local suppliers

What are financial resources used for in management?

• To pay for essential activities

• To design new products

• To train employees

• To conduct market research