Exam 5: Business Management

As businesses become increasingly international in scope,global management skills will become more important.

________ management involves an organization's methods for dealing with emergencies.

In the hierarchy of plans,the levels constitute a hierarchy because implementing plans is practical only when there is a logical flow from one level to the next.

The ability to define problems and select the best course of action is the definition of ________.

Although human relations skills are important at all levels,they are probably not important for middle managers.

Which of the following is the best example of unrelated diversification?

Decision-making skills involve gathering facts,identifying solutions,evaluating alternatives,and implementing the chosen alternative.

Short Case Scenario 5-1 Donna Hamilton is excited to open her own restaurant, the Westminster Inn. Although Donna has worked as a chef and even managed a number of restaurants during her career, she is concerned that she gets off to a good start. Donna spends several weeks before the restaurant opens setting goals. -What benefits can Donna expect from goal setting?

Objectives that a business hopes (and plans)to achieve are called ________.

What are the basic steps in decision making?

Long-term goals derived directly from a firm's mission statement are called ________.

According to the textbook,many managers spend as much as four hours a day in meetings.

Define the term management.

The manager uses which of the following management processes to guide and motivate employees to meet the firm's objectives?

Most companies have human resource managers who hire and train employees,evaluate performance,and determine compensation.

Carol wants to complete her B.S.in seven years.This is a(n)________ goal.

Short Case Scenario 5-1 Donna Hamilton is excited to open her own restaurant, the Westminster Inn. Although Donna has worked as a chef and even managed a number of restaurants during her career, she is concerned that she gets off to a good start. Donna spends several weeks before the restaurant opens setting goals. -Because Donna is not yet relying on other employees for the actual management of the restaurant,she has become concerned with crisis management.Explain why Donna may want to develop a crisis management plan.

Identify different types of managers likely to be found in an organization by level and area.

As CEO of Best Buy,Brad Anderson decided to stop paying commission to sales staff.How did this affect sales as well as the relationship with suppliers and customers?

Which of the following design and implement systems to gather,organize,and distribute information?