Question 1

To control operations,managers measure the actual results and compare them with the results that were laid out in the original plan.

Accepted Answer

Managers use performance measurement to compare actual results against planned or expected results to control operations and make adjustments as necessary. This process is essential for ensuring that organizational goals are met efficiently and effectively.

Question 2

Which of the following is not one of the four primary functions of management?

Accepted Answer

Budgeting is not considered one of the four primary functions of management. The four main functions are planning, organizing, leading (or directing), and controlling. Budgeting is a part of the planning process but is not categorized as a primary function on its own.

Question 3

Generating an idea and establishing an overall course of action for the long term is known as strategic planning.

Accepted Answer

Strategic planning involves formulating a vision for the future and determining the necessary steps and resources to achieve that vision, focusing on long-term goals and strategies.

Question 4

Wendy's public-relations team responded quickly to counteract the effects of bad publicity when a diner claimed that she'd found a fingertip in a bowl of chili.

Accepted Answer

Wendy's faced a significant public relations challenge in 2005 when a customer claimed to have found a human fingertip in her chili. The incident turned out to be a hoax, but Wendy's had to work quickly to manage the situation and restore public trust.

Question 5

In developing tactical plans,managers identify those aspects of the business that are most likely to be adversely affected by change.

Accepted Answer

The answer of In developing tactical plans,managers identify those aspects...

Question 6

When performing the management _____ function,managers measure the results of operations and compare them with the results they had laid out in their original goals.

Accepted Answer

The management function referred to is "controlling." In this function, managers monitor the organization's performance, compare it to the established goals, and make adjustments as necessary to ensure those goals are met. This involves measuring actual performance, comparing it against planned objectives, and implementing corrective actions to address any deviations.

Question 7

The mission statement describes the purpose of your organization-the reason for its existence.

Accepted Answer

A mission statement defines the organization's purpose and primary objectives. Its prime function is internal – to define the key measure or measures of the organization’s success and its prime audience is the leadership team and stockholders.

Question 8

Core values describe the purpose of your organization and the reason for its existence.

Accepted Answer

Core values define the principles and beliefs that guide an organization's actions and decisions, not its purpose or reason for existence.

Question 9

In setting strategic goals and performance objectives,Joan Rivers of DayMark Solutions would develop an overall course of action.

Accepted Answer

The answer of In setting strategic goals and performance objectives,Joan...

Question 10

When a manager motivates employees to achieve organizational goals he or she is engaging in the management function of directing.

Accepted Answer

Directing involves guiding and motivating employees to achieve organizational goals, which is a key management function.

Question 11

An organization needs ____ because they create more efficiency and effectiveness.

Accepted Answer

Managers are crucial in organizations because they plan, organize, lead, and control resources, including human resources, to achieve organizational goals more efficiently and effectively.

Question 12

Operational plans are broken down into various tactical plans that provide detailed action steps to be taken.

Accepted Answer

The answer of Operational plans are broken down into various...

Question 13

Peggy McLaughlin runs an ice cream shop.She is determining how many employees should work next week and at what times.She is performing which management function?

Accepted Answer

Organizing involves determining how tasks and resources should be allocated to achieve organizational goals. In this case, Peggy is determining how many employees should work and at what times, which is an organizing function.

Question 14

The management function of planning entails allocating resources (people,equipment and money)to carry out the company's plans.

Accepted Answer

Planning involves setting objectives and determining a course of action for achieving those objectives, but does not directly involve allocating resources. Resource allocation is more closely associated with the organizing function of management.

Question 15

Core values are the fundamental beliefs about what's important and what is and isn't appropriate in conducting company activities.

Accepted Answer

Core values serve as the guiding principles for a company, outlining what is deemed important in terms of behavior and decision-making within the organization.

Question 16

Tim is the manager of a shoe manufacturing company that staffs 100 workers.The company receives an emergency bulk order for 3,000 pairs of shoes to be delivered in 3 days.Tim encourages the workers to finish the assignment on time by providing them an extra day off and overtime wages.Which of the following management functions does Tim perform to motivate the employees to complete the order on time?

Accepted Answer

Directing involves guiding and motivating employees to achieve organizational goals. By offering incentives like an extra day off and overtime wages, Tim is directing his team towards completing the urgent order.

Question 17

Although a _____ allows managers to take the business concept beyond the idea stage,it doesn't accomplish the actual work.

Accepted Answer

A plan is a detailed proposal for doing or achieving something, which allows managers to take the business concept beyond the idea stage. However, it does not accomplish the actual work; it merely outlines the steps to be taken.

Question 18

Objectives are major accomplishments that the company wants to achieve over a long period of time.

Accepted Answer

The answer of Objectives are major accomplishments that the company...

Question 19

A SWOT analysis defines what an organization stands for.

Accepted Answer

A SWOT analysis identifies an organization's Strengths, Weaknesses, Opportunities, and Threats, rather than defining what it stands for.

Question 20

Management is the process of planning,organizing,directing and controlling resources to achieve specific goals.

Accepted Answer

Management involves the coordination of human, financial, and material resources to achieve organizational objectives efficiently and effectively through planning, organizing, directing, and controlling.

Quiz 5: Managing for Business Success