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MGT 300 (3)
Chapter 1

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MGT 300
Eric Williams

Chapter One-The Exceptional Manager 1) Managers operate within organizations, where a group of people who work together try to achieve some specific purpose. 2) Of the following selections, choose all that explain how the Internet can affect companies or activities that depend heavily on the flow of information. It lowers the cost of communications, It accelerates decision making, conflict, and stress, It enables the use of collaborative computing. 3) A(n) Intrapreneur works inside an existing organization, sees an opportunity for a product or service, and tries to capitalize on it. 4) Because they are willing to take risks in the pursuit of new opportunities, including the risk of personal financial failure, entrepreneurs need the confidence to act decisively. 5) True or False: Arranging tasks, people, and other resources to get things done are aspects of the leading management function. False. 6) What are some of the financial rewards of studying management? The ability to do fairly well financially compared to most workers, The ability to earn more as one acquires more education, Possible status rewards, such as a larger office, as one moves up the managerial hierarchy. 7) A(n) entrepreneur sees an opportunity for a new product or service and then launches a business to try to realize it. 8) Managers with titles such as department head, supervisor, and team leader who make short-term operating decisions and direct the tasks of non-managerial personnel are called: first-line managers. 9) While both managers and entrepreneurs feel a sense of urgency, entrepreneurs are especially apt to be impatient and want to get things done as quickly as possible, making them particularly action-oriented. 10)Which statement(s) are true about nonprofit organizations? Nonprofit organizations may operate in the private sector, The main purpose of a nonprofit organization is to offer services to clients, Nonprofit organizations may operate in the public sector. 11)Which of the following is NOT one of the rewards of practicing management? It will guarantee you will become wealthy. 12)True or False: Setting goals and deciding how to achieve them describes the managerial function of controlling. False. (Planning) 13)Which of the following is NOT one of the four principal functions of the management process? Synthesizing. (Organizing, Leading, Planning) 14)First-line managers make short-term operating decisions and direct the daily tasks of non-managerial personnel. 15)True or False: Top managers make long-range, or long-term, decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it. True. 16)Which of the following is NOT one of the rewards of studying management? You will be guaranteed a high-paying job upon graduation. 17)Entrepreneurs must have a particularly high tolerance for ambiguity as they are trying to do things that have not been done before. 18)Managers who are responsible for several organizational activities rather than just one are called general managers. 19)What type of organization is typically considered for profit? Business organizations. 20)The management function of planning involves setting goals and deciding how to achieve
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