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Management Process Overview

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Questions and Answers

What is a SWOT analysis used for?

Evaluating the financial performance of the organization

Assessing internal limitations and external threats (correct)

Identifying and evaluating favorable conditions for the organization

Analyzing competitors' weaknesses

Which type of resource includes physical, tangible items used by an organization?

Financial resources

Human resources

Informational resources

Material resources (correct)

What does a strategic plan focus on?

Short-term goals

Implementing tactical plans

Major policy setting and decision-making (correct)

Day-to-day operational details

What is the purpose of a contingency plan?

Outlining alternative actions if primary plans fail Signup and view all the answers

What is the main focus of operational plans?

To implement tactical plans Signup and view all the answers

What is the purpose of a mission statement in organizations?

To establish basic purpose and differentiation of the organization Signup and view all the answers

What is the primary responsibility of an operations manager?

Converting resources into goods and services Signup and view all the answers

Which type of control takes place after work activity is done?

Feedback control Signup and view all the answers

What do conceptual skills refer to in the context of management?

Thinking in abstract terms Signup and view all the answers

What is the key responsibility of a top manager?

Guiding and controlling overall fortunes Signup and view all the answers

What differentiates a first-line manager from a middle manager?

Mostly working on motivating employees and solving day-to-day problems Signup and view all the answers

Which control function involves setting standards, measuring actual performance, and taking corrective action?

Control function Signup and view all the answers