Business principle (6)

A SWOT Analysis is a(n) ______ tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.

planning

Setting shorter-term, specific plans such as annual budgets and deciding on other activities necessary to meet strategic objectives are tasks associated with ______ planning.

tactical

The short-term statements about what is to be done, who will do it, and when are set by managers at lower levels of the organization are known as ___________ plans.

tactical

The definition of ______ ______ states: the process of developing detailed, short-term statements about what is to be done, who is to do it, and how.

tactical planning

The definition of ______ ______ states: skills that involve the ability to perform tasks in a specific discipline or department.

technical skills

_________________ function of management designs the structures and systems in which everyone works together to achieve the organization's goals and objectives

Organizing

The management function that anticipates trends, then determines strategies and tactics to achieve them is

Planning

______________ is a key management function because accomplishing the other functions depends heavily on it.

Planning

_________________ is a management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives.

Planning

_________________ is creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives.

Leading

______ is the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.

Management

Which of the following tasks are associated with the organizing function of management?

Preparing an organizational chart

Kendra is considering opening a new business. While writing the business plan, she is answering the following questions: What external success factors affect the industry? How does her business measure up to competition? What can my bakery do to survive and prosper during a recession? What was Kendra performing?

SWOT analyze

Who performs strategic planning?

Top management

____________ gives an organization a sense of purpose and a set of values that unite workers.

Vision

____________ is a broad explanation of why the organization exists and where it is trying to go.

Vision

Which of the following are part of a situation analysis (SWOT)?

Weaknesses/Strengths/Opportunities

Enabling employees so they can be empowered successfully means

assuring that they have the correct education giving them needed coaching training them to do the job

The _____________ function measures performance relative to the planned objectives and standards, rewards people for work well done, and takes corrective action when needed.

control

As an experienced worker, Carlos used to see his manager gather the team each morning to assign individual tasks, then closely supervise employees. Lately, his manager consults team members, leaves many decisions to them, and helps those who struggle. This example demonstrates how the roles of managers are:

evolving

The control process provides __________________ that lets managers and workers adjust to deviations from plans and changes in the environment.

feedback

The definition of _____________ states: the broad, long-term accomplishments an organization wishes to attain.

goal

The broad, long-term accomplishments an organization wishes to attain are its

goals

Finding the right information, keeping information in a readily accessible place, and making the information known to everyone in the firm is

knowledge management

The difference between leaders and managers is that ________________ establish a vision and corporate values, while ___________ carry out that vision.

leaders/managers

In organizations, ______________ strive to produce order and stability, whereas ____________ embrace and manage change.

manager/leader

The control function of management (select all that apply):

measures performance relative to the planned objectives and standards rewards people for work well done takes corrective action when necessary

The definition of a(n) states ____________ ____________: an outline of the fundamental purposes of an organization.

mission statement

A(n) _________ is a specific, short-term statement of how to achieve the organization's long-term _________________ .

objective/goals

Functions included in staffing an organization are

retaining/recruiting/hiring

The part of the management function of organizing that includes hiring, motivating, and retaining the best people is

staffing

The type of planning done mostly by top management is ______ planning

strategic

The definition of ______ ______ states: the process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.

strategic planning

The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals is called

strategic planning

Modern managers may change the definition of ______________ from a task you do for a specific time and in a specific place to something you may do anywhere and anytime.

work

Why is planning a key management function?

Accomplishing the other functions depends heavily on having a good plan.

Which of the following tasks are associated with the organizing function of management?

Allocating resources, assigning tasks, and establishing procedures for accomplishing goals Staffing the organization Preparing a structure showing lines of authority and responsibility

______ customers include dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

External

Eduardo arranged for his employees to acquire the education and tools they need to make decisions on their own. He is now confident that his employees will be able to handle more tasks independently, without extensive managerial assistance. What can be said about Eduardo?

He enabled them and encouraged empowerment.

Who performs tactical planning in an organization?

Managers or teams of managers at lower levels

A ______ ______ is an outline of the fundamental purpose and basic philosophy of an organization.

Mission statement

The ____________ ______________ should address the organization's self-concept, its philosophy, long-term survival needs, customer needs, social responsibility, and the nature of the product or service.

Mission statement

A mission statement outlines the organization's fundamental purposes. It should address which of the following?

Nature of the product or service Organization's self concept Customer needs

__________ leadership is a leadership style that involves making managerial decisions without consulting others.

autocratic

The management function known as organizing

creates an organization chart showing lines of responsibility and authority places employees and resources where they will be effective in achieving the organization's goals designs the structure of the organization

Choosing between buying more inventory for her bike shop or hiring another employee requires Gail to make a(n)

decision

The definition of ______ ______ states: choosing among two or more alternatives.

decision making

The definition of _________ _____________ states: choosing among two or more alternatives.

decision making

An organization's vision gives it a:

sense of purpose set of values

Tactical planning deals with:

setting annual budgets and deciding on activities to meet strategic objectives

The definition of ______ ______ states: highest level of management, consisting of the president and other key company executives who develop strategic plans.

top management