Exam 5: Business Management

Controlling is the management process of ________.

Amy Madison has been tracking product sales for McCoy Industries.She notices that sales of surgical supplies have fallen off in the past six months and she is considering strategies to reverse this trend.This is an example of the ________ management function.

How did CEO Brad Anderson use strategic management to maintain success at Best Buy?

Human relations skills are most important for first-line managers.

Changing consumer tastes,hostile takeover offers,and new government regulations are examples of organizational ________.

________ planning attempts to anticipate and plan for change.

John wants to complete his M.B.A.in three years.This is a(n)________ goal.

What is a mission statement?

In what way(s)did Koch carry out the planning function?

The purpose of SWOT analysis is to ________.

In this unpredictable business world,how does a company or manager decide what choices to make if the unexpected happens?

When the finance department aims for a 3 percent increase in return on investment in three years,it is generally classified as a(n)________.

Determining the best way to arrange a firm's resources and activities into a coherent structure is called ________.

In the final step of formulating strategy there are three different levels of plans.Describe the three plans explaining what constitutes their hierarchy,and why.

Which of the following is NOT a level of plans?

The productive use of the manager's time is referred to as the manager's ________.

To what extent has Koch used the "control" function?

Human relations skills include the ability to get along with subordinates and to motivate employees to perform.

At which level of management are conceptual skills especially important?

The process of guiding and motivating employees to meet the firm's objectives is called planning.