20 Questions
Which function of management involves establishing objectives and goals for an organization?
Planning
Who is responsible for setting strategic goals in an organization?
Top managers
What is the difference between a goal and an objective?
A goal is long-term, while an objective is specific
What is a mission statement?
A brief statement of why the company exists
What is a vision statement?
A statement of the company's current status and aspirations
What is the organizing function of management?
Arranging resources to carry out an organization's plans
What is the management pyramid?
A pyramid-shaped structure representing the hierarchy of management
Who has the most power and responsibility in an organization?
Top managers
What do strategic plans outline?
The firm's long-range organizational goals
What are values statements?
Statements of the company's decision-making principles
Which level of management is responsible for supervising the operating employees and implementing the plans set by higher management levels?
First-line Managers
What are the three basic styles of leadership within companies?
Autocratic, Democratic, Laissez-faire
What is the process of guiding and motivating people to work toward organizational goals called?
Leading
Which style of leadership involves leaders who do not involve others in decision making?
Autocratic leaders
What is the term for a philosophy allowing employees to take part in planning and decision making?
Participative management
What is the process of helping employees reach their highest potential by meeting with them, discussing issues, and offering suggestions called?
Coaching
What is the process similar to coaching but based on a learning relationship between an experienced manager and a less experienced one called?
Mentoring
What is the term for a set of shared values and norms that support the management system and guide management and employee behavior in a company?
Organizational culture
What is the process of measuring progress against goals and objectives, and correcting deviations if results are not as expected called?
Controlling
What is the term for a method of monitoring performance from four perspectives: finances, operations, customer relationships, and growth & development of employees and intellectual property?
Balance scorecard
Test your knowledge on the fundamentals of management with this quiz on the planning function. Explore the process of establishing objectives and goals, and learn how to create effective strategic plans to meet organizational goals.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
