Exam 7: Management, Leadership, and the Internal Organization

MATCHING Complete the following using the terms listed. -_____ is the perception of marketplace needs and the ways a firm can satisfy them.

The management function of directing might include training and retraining employees, establishing work schedules, and monitoring progress.

Describe each of the management functions.

Chang is the owner-manager of a 24-hour convenience store. When he first opened the business, he employed only four people, and it was easy to manage the store through informal means. The store experienced rapid growth and is now a six-unit chain. Chang is now trying to manage 30 employees. As part of the organizing process, he first determines the actions to be taken to achieve his organizational goals. What is the next step he should take?

Strategic planning entails developing and implementing tactics in specific functional areas.

Work organized by the different types of goods and services a company offers is called functional departmentalization.

Which of the four functions of management involves establishing performance standards, monitoring actual performance, comparing actual performance with established standards, and making corrections if necessary?

Studies indicate that democratic style of leadership is the most effective.

Identify the three basic skills necessary for managerial success and provide an example for each.

When the manager of a local auto repair shop decided to expand into a neighboring town, she was making a programmed decision.

Conceptual skills are _____.

A company's vision should be _____ and _____.

Firms organized around business functions such as finance, marketing, and production have process departmentalization.

Lorenzo is the product manager of a new company that makes hand-held computers. He is trying to decide between two operating systems for the product. Lorenzo is _____.