Fundamentals of Entrepreneurial Acculturation

What are the four functions of management?

• Planning, Organizing, Leading, Control

• Planning, Organizing, Staffing, Directing

• Planning, Organizing, Controlling, Evaluating

• Planning, Leading, Controlling, Staffing

What does SWOT stand for?

• Strengths, Weaknesses, Opportunities, Threats

• Strengths, Weaknesses, Options, Tactics

• Strengths, Weaknesses, Objectives, Threats

• Strengths, Weaknesses, Opportunities, Tactics

What is the importance of planning?

• Forecasting the future

• Determining business directions

• Evaluating company performance

• All of the above

What are the characteristics of effective goals?

• Specific, Measurable, Attainable, Realistic, Time-bound

• Simple, Manageable, Achievable, Relevant, Timely

• Strategic, Measurable, Achievable, Realistic, Time-bound

• Specific, Manageable, Attainable, Relevant, Time-bound

What is the managerial function of planning?

What is the process of setting goals and formulating organizational activities?

What are the basic elements of organizing?

• Designing jobs

• Grouping jobs

• Establishing reporting relationships

• Distributing authority

• Coordinating activities

What are the objectives of leading?

• Builds commitments & enthusiasm

• Turns plans into action

What are the traditional techniques of controlling?

• Personal observation

• Statistical data & reports

• Break-even analysis

• Budgetary control

• Responsibility accounting

What are the levels of control in management?

• Operational control

• Tactical control

• Strategic control