Exam 1: Introduction to Principles of Management

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_______________ is the function of management that involves developing an organizational structure and allocating human resources.

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Strategy is the concept of how an organization will achieve its objectives;therefore strategic management is:

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Principles of management are often discussed or learned using a framework for _______.

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

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The matching of organizational form with the organization's strategy is _________ ___________.

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The four decisional roles managers play are: _____________,_____________,______________,and _____________.

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What is the difference between line and staff managers?

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Why would HUI Manufacturing,a custom sheet metal fabricator,have done away with traditional departments in their organization?

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________ managers are responsible for the efficiency and effectiveness of an area such as accounting or marketing.

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A manager must understand the compatibility of individual and group performance with respect to:

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An ____________helps planners assess the critical contingencies facing their organization in terms of economic conditions,their competitors and their customers.

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What are two traditional managerial control techniques?

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

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Economic profit is the difference between revenue and the opportunity cost of all resources used to produce the items sold.

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_________ planning is designed to develop specific action steps that support the strategic and tactical plans.

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Strategic management is the central,integrated,externally oriented concept of how we will achieve our objectives.

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Organizational design decisions are made about:

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Describe the difference between a budget audit and a performance audit.A budget audit provides information about where the organization is with respect to what was planned or budgeted for,whereas a performance audit might try to determine if the figures reported are a true reflection of actual performance.Hard;Comprehension

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

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In what ways has managerial work changed over the past 30 years? Much of managerial work has remained unchanged except for the empowered relationship between top managers and other managers and employees,changes in technology and the increase in information overload.Medium;Comprehension

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