Midterm 2025

What question is ask when management needs to plan?

• What is the overall objective?

• What do we want to do?

• How are we going to do it?

What question has to be answered when management needs to organize?

• How will it get done?

• What do we want to do?

• What is the overall objective?

What is the flow of authority within an organization?

• Laws

• Management

• Chain of Command

What is the management function that includes setting up the way a business’s work will be done?

• Planning

• Organizing

• Staffing

What are the sub plans or secondary plans which help in the achievement of main plan?

• tactical plans

• strategic plans

• derivative plans

A short-term undertaking that creates unique goods and services?

• a plan

• Project

• an objective

True or False: The difference between a project and business operations is project or short-term and business operations are on going and keeps business running on a day-to-day basis?

• True

• False

True or False: One importance of business project is projects allow businesses to take advantage of new opportunities quickly!

• True

• False

What are the elements of a project

• Initiation

  Planning

  Outcome

• Scope

  Budget

  Schedule

• Resources

  Schedules

  Outcomes

True or False: The goal of project management is to ensure efficient, effective project completion with respect to quality, schedule, and budget?

• False

• True