Chapter 7 Management Review

Ethical companies never engage in competition for business.

The ability to motivate individuals and groups to accomplish important goals.

Ensures that standards of conduct are maintained by all who is in the business and with all affected by the business.

Leaders are born, not made.

The important principles that will guide decisions and actions in the company.

Analyzing information, setting goals, and making decisions about what needs to be done.

Communication with suppliers is an example of external communication.

All of the activities involved in obtaining, preparing, and compensating the employees of a business

Planning, staffing, and controlling are all functions of management.

Identifying and arranging the work and resources needed to achieve the goals that have been set.

An entrepreneur who starts a new business is not considered to be a manager.

The process of accomplishing the goals of an organization through the effective use of people and other resources.

The effort to direct and lead people to accomplish the planned work of the organization.

Ethical business practices involve only the companies executives.

Which is NOT one of the five functions of management?

Middle managers are responsible for specific areas of business operations.

A management style best to use when working under tight time pressures.

The way a manager works with and involves employees.

Enables a person to affect the actions of others.

Power resulting from the personal characteristics of a leader rather than the formal structure of an organization.

Determines to what extent the business is accomplishing the goals it set out to reach in the planning stage

Power based on a leader’s position withing the formal structure of an organization.

Which is ONE way to praper to be a leader?

Communication from one manager to another is horizontal communication.

The way people get along with each other.

Effective managers should use strategic management rather than tactical management.