Exam 6: Understanding the Management Process

Kelly is in charge of both accounting and investments and all of the employees involved with these functions at her firm. Kelly is a(n) ____ manager.

Accounting and investments are areas within which management field of specialization?

Clarke Tools, concerned about its loss of market share in previous years, has recently implemented several programs to encourage prompt and courteous customer service, employee self-management, and better coordination with suppliers. Clarke Tools is making an effort to achieve

A timeline for a strategic plan can be as long as 10 years. However, the timeline for a strategic plan for a company is generally

The process of evaluating and regulating ongoing activities to ensure that goals are achieved is known as

____ is the process of developing a set of possible alternative solutions and choosing one alternative from among that set.

It is important for a manager to understand the ____ of subordinates in order to encourage effective performance.

The process of influencing people to work toward a common goal is

IBM's principal reason for existing is to earn a profit for its shareholders. The means by which IBM does this is through the manufacture of computers. These two statements describe, respectively, IBM's

Revenues, proceeds from stock sales, and loans from banks are ____ resources for Sears.

Define the aspects of a SWOT analysis and how it can benefit a company.

First-line managers spend most of their time working with and motivating their employees, answering questions, and solving daily problems.

A company like Motorola might establish a goal of reducing its inventory by 50 percent over the next year. To ensure that it reaches this goal, the company could monitor its progress on a quarterly or monthly basis. If the managers at Motorola discover that there is a danger of not achieving this goal, they can take corrective action to adjust for the deficiency. This is a description of the managers' ____ function.

Middle managers occupy the management level that falls between the operating employees and first-line managers.

Middle managers implement the strategy developed by top management.

Goals are set only for top-level management.

Common names for top-level managers are vice president, chief executive officer, and chief operating officer.

The two managerial functions that compose the process of directing an organization are

The manager who provides overall guidance and leadership for the entire corporation is known as the ____ manager.

Describe how benchmarking can benefit a manufacturing organization.