Key Concepts in Part 3 of Strategic Management LAP 1

What are the key concepts covered in Part 3 of Strategic Management LAP 1?

• Marketing, finance, and operations management

• Business management, human resource management, and information management

• Organizational behavior, leadership, and corporate strategy

• Product development, sales management, and customer service

What is management described as in the image?

• The process of hiring people for an organization

• The logical process of coordinating resources to accomplish an organization's goals

• The act of selling products or services

• The method of training individuals for specific tasks

According to the image, what is one of the roles of managers?

• To perform all the tasks in the organization

• To ensure that everything gets done

• To create the organization's goals

• To take credit for all the work done

What do managers NOT do according to the image?

• Coordinate resources

• Accomplish goals

• Make sure everything gets done

• Do the actual jobs

Which of the following elements is NOT shown in the diagram related to management?

• Strategy

• Plan

• Teamwork

• Profit

Which of the following is NOT one of the functions of management?

• Planning

• Organizing

• Staffing

• Budgeting

What is the term used to describe groups of activities related to management?

• Management function

• Management process

• Management strategy

• Management structure

Which function of management involves assigning tasks and granting authority?

• Planning

• Organizing

• Directing

• Controlling

Which function of management is primarily concerned with guiding and supervising employees?

• Planning

• Staffing

• Directing

• Controlling

What is the primary purpose of planning as a function of management?

• To establish a hierarchy within the organization

• To decide what work will be done and how it will be done

• To evaluate the performance of employees

• To facilitate social events within the company