Intro to Business Warm Up Chapter 5
Top managers in an organization would likely be involved in which of the following functions?
A company's top managers are responsible for the overall performance and effectiveness of a firm. They would set general policies, formulate overall strategy for the organization, represent the company in dealings with other firms and governmental authorities, and approve all significant decisions.
Contingency plans accomplish which of the following?
Contingency planning seeks to identify in advance important aspects of a business or its market that may change, along with ways in which the company will respond to such changes.
_______ planning identifies alternative courses of action that an organization can utilize if its original plans do not achieve intended objectives.
Contingency planning seeks to identify in advance important aspects of a business or its market that might change and ways in which the company can respond to those changes.
The shared experiences, stories, beliefs, and norms that characterize an organization reflect its _______.
Corporate culture is the "feel" of an organization. It is comprised of shared experiences, stories, beliefs, and norms that characterize an organization
Which management skill would enable a manager to effectively identify a problem or opportunity, evaluate alternative courses of action, and select the most appropriate one?
Decision-making skills enable a manager to effectively diagnose a problem or opportunity, gather needed facts, identify and evaluate alternative courses of action, and implement the chosen alternative. Next Question
Accomplishments that a business intends and plans to achieve are referred to as _______.
Goals are objectives that a business hopes and plans to achieve
The management function that encompasses development of an organization's goals along with a strategy and tactics for achieving those goals is ___
Planning involves determining what the organization needs to do and how best to get it done. It has three main components: determining goals, developing a strategy for achieving those goals, and designing tactical and operational plans to implement the strategy.
_____ plans are typically established by a firm's top management team and reflect long-term goals or initiatives of the organization in terms of resource allocation and company priorities.
Plans can be viewed on three levels: strategic, tactical, and operational. Strategic plans reflect top management's decisions about resource allocation, organizational priorities, and the steps needed to meet strategic goals.
Which of the following are the four basic functions of management?
There are four functions of management that span across all industries. They include: planning, organizing, leading, and controlling. You should think about the four functions as a process, where each step builds on the others.
Jessica, the director of the local humane shelter, gives the keynote speech at a national conference on animal welfare. Which managerial role does this BEST describe?
This managerial role involves social, ceremonial, and legal responsibilities, such as giving speeches, hosting receptions, signing legal documents, attending ribbon-cutting ceremonies, etc.
The chief operating officer (COO) of a firm would be categorized as a _______ manager in the organization.
Top managers are executives who set general policies, formulate strategies, and are responsible for the overall direction of the organization. Common titles for top managers include president, vice president, chief executive officer (CEO), chief operating officer (COO) and chief financial officer (CFO).
When he started work at the law firm, Todd was dismayed that employees were routinely expected to work long hours, including weekends, and that the atmosphere among attorneys was intensely competitive rather than cooperative. These observations reflect the _______ of the firm.
corporate culture
