Chapter 5

What three steps are included in the rational decision-making process?

Begin implementation Determine whether the dcision was a good one and follow up decide which alternative is best

What are two characteristics that define goals?

They are long-term. They are broad.

When companies set their business goals, they are also defining the company's Blank______ as well.

values

An organization's ______ is a broad explanation of why the organization exists and where it is trying to go.

vision

Managers use conceptual skills to perform which three tasks?

Delegate work fairly among workers See the interrelationships among an organizations departments picture the organization as a whole

CFO CIO COO CEO

Develop financial resources Manage information Implement operational plans President of the organization

What three positions are considered as top management in an organization?

Problem solving

An organization's ______ gives it a sense of purpose and a set of values that unites workers in a common destiny.

Vision

Problem solving differs from decision making because problem solving _____.

is less formal usually requires faster action

What three tasks are associated with the controlling function of managers?

monitoring wheather performance meets standards taking corrective actions when necessary measuring weather results achieve corporate objectives