CHAPTER 6 : EXERCISE

Which of the following best represents the interrelation of the four management functions?

• Planning precedes all other functions without needing feedback from them

• Organizing, leading, and controlling all depend on effective planning

• Each function is independent, requiring little integration with others

• Leading is a preliminary function that guides planning, organizing, and controlling

In strategic management, goal setting is essential for organizational success because it:

• Helps establish short-term tactics for operational tasks

• Guides management in avoiding risks

• Directly influences long-term planning and resource allocation

• Ensures tasks are standardized across departments

Middle managers primarily act as a bridge by:

• Executing tasks set by first-line managers and reporting outcomes to top management

• Formulating long-term goals based on first-line feedback

• Translating top management goals into actionable objectives for lower levels

• Setting direct operational targets and customer service policies

In a rapidly changing market environment, conceptual skills are essential for managers because they enable:

• Detailed analysis of day-to-day employee performance

• Abstract thinking to diagnose and adapt to evolving challenges

• Specialization in technical tasks to improve productivity

• Strong interpersonal connections with all team members

A Financial Manager’s responsibilities primarily include:

• Managing short-term assets to maximize production

• Formulating budgets and making long-term capital investments

• Directing human resources to ensure skill alignment with goals

• Overseeing product distribution channels

Decision-making skills at the managerial level are critical in defining problems because they:

• Are confined to first-line managers for resolving day-to-day issues

• Only impact financial resource allocation

• Guide resource distribution based on collected data and strategic needs

• Allow managers to disregard other levels' input during planning

Top managers are distinguished from other levels by their responsibility to:

• Focus exclusively on daily operational efficiencies

• Formulate strategies impacting both internal and external stakeholders

• Supervise and evaluate all mid-level managers directly

• Develop policies without needing input from other management levels

In large organizations, which type of manager is most likely to prioritize external stakeholder relationships while strategizing for overall firm growth?

• Middle managers

• First-line managers

• Top managers

• Operations managers

Human relation skills are most crucial for middle managers because they:

• Enable clear communication of tactical tasks to frontline employees

• Strengthen relationships within top management

• Act as a bridge for integrating top management strategies with operational execution

• Are specialized skills mainly for communicating with external clients

Which of the following accurately represents the flow of the decision-making process in management?

• Define the problem, evaluate alternatives, gather facts, and implement

• Gather facts, define the problem, evaluate and select the best alternative, implement, and follow up

• Implement first, then gather facts and evaluate alternatives

• Define the problem, select alternatives, evaluate and implement them simultaneously