Question 1

Since there have been tremendous changes in the environment faced by managers, the functions of planning, organizing, leading and controlling are not considered essential functions by many organizations today.

Accepted Answer

Despite tremendous changes in the environment, the functions of planning, organizing, leading, and controlling remain essential for effective management in organizations. These functions provide a framework for managers to address challenges and achieve organizational goals.

Question 2

If management is defined as getting things done through others, then _________ should be defined as the social and informal sources of influence that one uses to inspire action taken by others.

Accepted Answer

The answer of If management is defined as getting things...

Question 3

Strategy is a coherent plan of action, articulated in ________ and ___________.

Accepted Answer

The answer of Strategy is a coherent plan of action,...

Question 4

Strategic management is the body of knowledge that answers questions about the development and implementation of ____________.

Accepted Answer

The answer of Strategic management is the body of knowledge...

Question 5

Controlling involves ensuring that performance does not deviate from the mission of the organization.

Accepted Answer

The answer of Controlling involves ensuring that performance does not...

Question 6

Entrepreneurs are the catalysts for value creation by first identifying a(an) _______________.

Accepted Answer

The answer of Entrepreneurs are the catalysts for value creation...

Question 7

Three different types of planning used in the function of management are:

Accepted Answer

The three types of planning used in the function of management are strategic, tactical, and operational. Strategic planning involves setting goals and objectives for the organization's future, while tactical planning focuses on the specifics of achieving those goals. Operational planning involves creating specific action plans for day-to-day tasks and processes. These three types of planning work together to ensure that an organization is successful in achieving its goals and objectives.

Question 8

Strategic planning generally includes just the top managers and includes formulation of objectives.

Accepted Answer

Strategic planning involves not only top managers but also middle and lower-level managers to ensure the plan is comprehensive and incorporates insights from various levels of the organization. It includes the formulation of objectives, but also involves setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions.

Question 9

_____________ identify and create new markets, as well as foster change in existing ones.

Accepted Answer

The answer of _____________ identify and create new markets, as...

Question 10

Why is entrepreneurship defined as a process?

Accepted Answer

The answer of Why is entrepreneurship defined as a process?...

Question 11

Planning is the function of management that involves setting objectives and determining a course of action for achieving these objectives.

Accepted Answer

Planning is indeed the function of management that involves setting objectives and determining a course of action for achieving these objectives.

Question 12

What is strategic management?

Accepted Answer

The answer of What is strategic management?...

Question 13

Tactical planning in an organization is usually an intermediate-range plan designed to develop specific means to implement the strategic plan.

Accepted Answer

Tactical planning usually covers a timeline of one to three years and outlines the details of how the strategic plan will be executed. It focuses on specific actions, resources, and responsibilities needed to achieve the strategic goals.

Question 14

Principles of division of labor and specialization are used to design individual jobs to most effectively incorporate job enrichment.

Accepted Answer

Division of labor and specialization focus on breaking down tasks to increase efficiency and productivity, often at the expense of job enrichment, which aims to make work more fulfilling by adding variety and responsibility.

Question 15

Google has topped Fortune's 100 Best Companies to Work for the last two years. What has leadership at Google done to achieve this designation?

Accepted Answer

The answer of Google has topped Fortune's 100 Best Companies...

Question 16

Describe leadership.

Accepted Answer

The answer of Describe leadership....

Question 17

Decisions made about the structure of an organization are generally referred to as operational planning decisions.

Accepted Answer

Decisions made about the structure of an organization are generally referred to as organizational planning decisions or strategic planning decisions. Operational planning decisions are focused on the day-to-day operations of the organization.

Question 18

To be effective at leading, managers must first understand their subordinates' personalities, values, attitudes, and emotions.

Accepted Answer

Understanding subordinates' personalities, values, attitudes, and emotions is important for effective leadership as it allows managers to tailor their approach and communication to better motivate and engage their team members.

Question 19

When an organization has a long-term purpose, articulated in clear goals and objectives, and these goals and objectives comprise a coherent plan of action, then we would say that the organization has a _____________.

Accepted Answer

The answer of When an organization has a long-term purpose,...

Question 20

Effective controlling techniques are budget and performance audits.

Accepted Answer

Budget and performance audits are effective controlling techniques used to evaluate an organization's financial performance and identify areas for improvement.

Quiz 1: Introduction to Principles of Management