5 Written Questions

1. Shared experiences, stories, beliefs, and norms that characterize an organization
2. Skills in understanding and getting along with people
3. Responsible for ensuring that operations processes create value and provide benefits to customers
4. Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity
5. Goal set for a period of one to five years into the future

5 Matching Questions

1. Mission Statements
2. Controlling
3. Strategy
4. Leading
5. Business Strategy

1. a Strategy at the business-unit or product-line level focusing on improving a firm's competitive position
2. b Statement of how they will achieve their purposes in the environments in which they conduct their businesses
3. c Management process of guiding and motivating employees to meet an organization's objectives
4. d Process of monitoring a firm's performance to make sure that it is meeting its goals
5. e Broad set of organizational plans for implementing the decisions made for achieving organizational goals

5 Multiple Choice Questions

1. Developed by mid-level and lower-level mangers, set short-term targets for daily, weekly, or monthly performance
   1. Operations Mangers
   2. Tactical Plans
   3. Operational Plans
   4. Strategic Plans
2. Objectives that a business hopes and plans to achieve
   1. Goals
   2. Strategy
   3. Leading
   4. Planning
3. Identification and analysis or organizational strengths and weaknesses and environmental opportunities and threats as part of strategy formulation
   1. Top Managers
   2. Strategy
   3. Goals
   4. SWOT Analysis
4. 1. Determine goals 2. Develop a comprehensive strategy for achieving those goals 3. Design tactical and operational plans for implementing the strategy
   1. Three Main Components of Planning
   2. Time Management Skills
   3. Contingency Planning
   4. Human Resource Mangers
5. Plan and oversee its accounting functions and financial resources
   1. First-Line Managers
   2. Marketing Managers
   3. Middle Managers
   4. Financial Managers

5 True/False Questions

1. Long-Term Goals → Goal set for an extended time, typically five years or more into the future

   True        False

2. Strategic Plans → Goal derived directly from a firm's mission statement

   True        False

3. Middle Managers → Implement the strategies and work toward the goals set by top managers

   True        False

4. Information Managers → Operate the systems used for getting, organizing, and distributing information

   True        False

5. Human Resource Mangers → Skills in understanding and getting along with people

   True        False