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Chapter 1 Business Management Test

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5 Written Questions

5 Matching Questions

  1. Organization
  2. Intermediate Goals
  3. Functional Strategy
  4. Organizational Analysis
  5. Strategic Goals
  1. a Process of better understand a company's strengths and weaknesses
  2. b Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity
  3. c Determining the best way to arrange a business's resources and activities into a coherent structure
  4. d Goal derived directly from a firm's mission statement
  5. e Goal set for a period of one to five years into the future

5 Multiple Choice Questions

  1. Creation of a broad program for defining and meeting an organization's goals
  2. Implement the strategies and work toward the goals set by top managers
  3. The productive use that managers make of their time
  4. Strategy for determining a firm's overall attitude toward growth and the way it will manage its businesses or product lines
  5. Are shorter-term plans for implementing specific aspects of the company's strategic plans

5 True/False Questions

  1. Strategic PlansGoal derived directly from a firm's mission statement


  2. Three Main Components of PlanningSeeks to identify in advance important aspects of a business or its market that might change


  3. Financial ManagersSupervise the work of employees


  4. Information ManagersOperate the systems used for getting, organizing, and distributing information


  5. SWOT AnalysisIdentification and analysis or organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation


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