Chapter 7 Business

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

Autocratic

David's manager told him the company wants to achieve a 50 percent market share within 5 years. David's manager was relaying a company:

Goal

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

goals

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

goals

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

leaders, managers

is creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business in order to improve its effectiveness and efficiency.

leadership

A(n) is a short-term statement that details how to achieve the organization's goals.

objective

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

objective, goals

The definition of ______ states: specific, short-term statements detailing how to achieve the organization's goals.

objectives

The control function of management

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

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

feedback

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

technical skills

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

technical skills

A ______ gives the organization a sense of purpose and a set of values that unite workers in a common destiny.

vision

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

vision

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

vision

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

vision

Those managers considered as top management in an organization would include the

Chief Operating Officer Chief Executive Officer Chief Financial Officer

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

Management

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

The process of analyzing an organization's strengths, weaknesses, opportunities, and threats is a(n)

SWOT

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

Weaknesses Strengths Opportunities

External customers include

dealers end users

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

decision making

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

decision making

Managers practice the art of getting things done using organizational resources such as:

equipment workers information

Leaders in traditional organizations who direct employees are likely to:

explain routines give specific assignments provide performance feedback

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

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

knowledge management

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

knowledge management

Employees who get things done using an organization's financial resources, information, equipment, and workers are:

managers

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

mission statement

Top management sets the vision for the organization and may work with others to establish a mission statement that outlines its

product or service offering self-concept

Functions included in staffing an organization are

retaining recruiting hiring

A mission statement should address an organization's

self-concept customer needs

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

senior management

An organization's vision gives it a:

sense of purpose set of values

Directive leaders are often needed in organizations with workers who lack and needed to do the job.

skills, experience

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

staffing