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Exam 6: Understanding the Management Process

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Question 61

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Decision making involves identifying the problem or opportunity, generating alternatives, selecting an alternative, and implementing the solution.

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Question 62

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Strategic planning refers to the process of balancing conflicting departmental goals.

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Question 63

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Revenues, proceeds from stock sales, and loans from banks are ____ resources for Sears.

The control function includes three steps: setting standards, measuring performance, and recycling the system.

For a total quality management program to be effective, it must be treated as a top priority by

Accounting and investments are areas within which management field of specialization?

The effectiveness of a total quality management program is directly related to top management's commitment to its success.

Grouping resources and activities to efficiently and effectively accomplish a result is called _____.

Jack is reviewing the recently implemented sales strategy the company developed and considering whether or not the company made the right decision.Jack is in the ____ stage of the managerial decision-making process.

If Kmart states that it is going to spend $100 million in advertising in the upcoming year to help increase its market share, it is explaining part of its ____ plan.

____ is called the first management function because all other management functions depend on it.

Specific skills needed to accomplish specialized activities such as drafting and welding are known as ____ skills.

Discuss the potential benefits of a successful total quality management program.

____ is the act of choosing one alternative from a set of alternatives.

Centrum Springs, Inc. Riley has worked for Centrum Springs, Inc., for many years and has now been given the opportunity to advance in the company.His manager is retiring and hopes that Riley will take over for him.However, even though Riley is an experienced employee, there are many things that he still needs to learn.Riley has trained many new employees, but he has never held a management position.Riley needs to have a general understanding of what it takes to be a manager. There are many problems in Riley's department.There are no secondary plans to fall back on in case the initial plan fails.Riley also will need to learn how to direct people in such a way that makes them want to do more than the absolute minimum they have to.Riley feels that this is a great opportunity, and he is anxious to learn everything to be a great manager.He knows that if he performs well in this position, he will have the opportunity to move up the corporate ladder. -Refer to Centrum Springs, Inc.In the department where Riley works, what types of plans are lacking?

As Kyle conducts his annual evaluations of his employees, he notices that Connie and Debbie have both been less productive since they were relocated in the same department.Kyle is in what stage of the managerial decision-making process?

When looking at the company's sales figures, Martha sees that her salespeople have not achieved high sales in Japan.She is at what stage in the managerial decision-making process?

Implementing a decision requires time, planning, preparation of personnel, and

Over the last few years, most U.S.firms have regained the dominant competitive positions they had previously held.

Specific statements detailing what the organization intends to accomplish over a short period of time are called _____.