Question 1

Goals are established for only one year at a time.

Accepted Answer

Goals can be established for multiple years, not just one year at a time. However, shorter-term goals can be established within an overall longer-term goal framework.

Question 2

Achieving a balance between competing and conflicting goals is called optimization.

Accepted Answer

Optimization involves finding the best solution that achieves a balance between competing and conflicting goals.

Question 3

Strengths and weaknesses are the external factors of a company SWOT analysis.

Accepted Answer

Strengths and weaknesses are actually internal factors of a company's SWOT analysis, while opportunities and threats are the external factors.

Question 4

As a manager carries out his or her functions,the first step is to control,the second is to organize,and the third is to plan.

Accepted Answer

The correct order is planning, organizing, and then controlling.

Question 5

Controlling is the process of evaluating and regulating ongoing activities to ensure achievement of goals.

Accepted Answer

This is the accurate and complete definition of controlling.

Question 6

Most organizations use four types of resources: material,human,financial,and informational.

Accepted Answer

This statement is true. Material resources refer to the physical resources such as raw materials, equipment, and supplies. Human resources refer to the people who work in the organization. Financial resources refer to the money or capital available to the organization. Informational resources refer to the data and knowledge that the organization uses to make decisions and perform its functions.

Question 7

Core competencies of an organization are the aspects that a company performs well.

Accepted Answer

Core competencies are the unique strengths and abilities that an organization possesses and performs well in order to differentiate itself from competitors and achieve its goals.

Question 8

A plan is an outline of the actions by which the organization intends to accomplish its goals and objectives.

Accepted Answer

A plan provides a roadmap for an organization to achieve its desired outcomes.

Question 9

The process of establishing an organization's major goals and objectives and allocating the resources to achieve them is called tactical planning.

Accepted Answer

The process of establishing an organization's major goals and objectives and allocating the resources to achieve them is called strategic planning. Tactical planning is the process of determining the specific actions and steps needed to achieve the goals established in the strategic plan.

Question 10

Management is the process of coordinating people and other resources.

Accepted Answer

Management involves coordinating employees, departments, budgets, and other resources in order to achieve organizational goals.

Question 11

The four basic management functions are planning,organizing,leading and motivating,and controlling.

Accepted Answer

The statement is true. These four functions are essential to the management process and are often referred to as the POCL (Planning, Organizing, Controlling, Leading) framework.

Question 12

In a SWOT analysis,opportunities are considered external to the organization.

Accepted Answer

Opportunities are external factors that can benefit the organization, while Strengths, Weaknesses, and Threats are internal and external factors that affect the organization.

Question 13

Organizing is the process of grouping resources and activities efficiently and effectively to accomplish an end result.

Accepted Answer

Organizing is indeed the process of grouping resources and activities efficiently and effectively to achieve a specific goal or end result.

Question 14

An organization's tactical plan is its broadest set of plans developed as a guide for major policy setting and decision making.

Accepted Answer

An organization's strategic plan is its broadest set of plans developed as a guide for major policy setting and decision making. A tactical plan is a more specific and detailed plan that outlines actions to be taken in order to achieve strategic goals.

Question 15

The control function includes three steps: setting standards,measuring performance,and recycling the system.

Accepted Answer

The control function typically includes three steps: setting standards, measuring actual performance, and taking corrective action, not recycling the system.

Question 16

The primary functions a manager performs include planning,solving problems,leading and motivating,and controlling.

Accepted Answer

The primary functions a manager performs include planning, organizing, leading, and controlling. Solving problems is a part of these functions, especially planning and controlling, but is not listed as a primary function on its own.

Question 17

A broad set of plans that outlines alternative courses of action when problems develop is called a strategy.

Accepted Answer

The answer of A broad set of plans that outlines...

Question 18

Goals are set only for top-level management.

Accepted Answer

Goals can be set for all levels of management, as well as for individual employees and teams within an organization.

Question 19

Dell Computer attempts to earn a profit by manufacturing premium-quality computers.This action represents its mission.

Accepted Answer

The statement correctly identifies Dell's mission of manufacturing premium-quality computers to earn a profit.

Question 20

An aspect of the strategic planning process is to allocate resources to achieve an organization's goals and objectives.

Accepted Answer

Allocating resources is an important part of the strategic planning process as it helps to ensure that the organization has the necessary means to achieve its goals and objectives.

Quiz 6: Understanding the Management Process