Midterms

Question 1

It is the function that co-ordinates the efforts of people to accomplish goals and objectives by using available resources efficiently and effectively. It also includes planning, organizing, staffing, leading, or directing and controlling to accomplish the organization’s goals.

Answer 1

Management

Question 2

This refers to the transition from hand production methods to machines, new chemical manufacturing processes, iron production processes, increasing use of steam power, and the development of machine tools.

Answer 2

Industrial Revolution

Question 3

What was the year or year span when management was considered as a science?

Answer 3

1910s-1940s

Question 4

What was the year or year span when management became a functional organization?

Answer 4

1950s-1960s

Question 5

He is a French management theorist who developed the fundamental notion of principles of management.

Answer 5

1990s

Question 6

He is a French management theorist who developed the fundamental notion of principles of management.

Answer 6

Henry Fayol

Question 7

According to Henri Fayol, this principle states that the whole work is divided into small tasks.

Answer 7

Division of Work

Question 8

According to Henri Fayol, this principle refers to the issue of commands followed by responsibility for their consequences.

Answer 8

Authority and Responsibility

Question 9

According to Henri Fayol, this principle refers to the need of managers to ensure and develop morale in the workplace; individually and communally.

Answer 9

Espirit de Corps

Question 10

Which of the following is NOT included in the GEMS Management Cycle?

a. Measuring the Plan
b. Setting of Goals
c. Plan Execution
d. Sustaining the Growth

Answer 10

a. Measuring the Plan

Question 11

Arrange the following to complete Goal Setting: (1) Formulating Alternatives; (2) Deciding on Courses of Action; (3) Synthesizing Information; (4) Establishing Goals.

Answer 11

(3) Synthesizing Information; (1) Formulating Alternatives; (2) Deciding on Courses of Action; (4) Establishing Goals

Question 12

It usually takes smarts or IQ (also known as your left brain – the logical center).

Answer 12

Hard Skills

Question 13

It usually takes Emotional Intelligence or EQ (also known as your right brain – the emotional center).

Answer 13

Soft Skills

Question 14

What Soft Skill would best describe you, where you adapt to the rules change depending on the company culture and people you work with.

Answer 14

Communication Skills

Question 15

This is a Hard Skill you possess where rule stays the same regardless of which company, circumstance or people you work with.

Answer 15

Programming

Question 16

This theory originated from the writing style of the famous, Nobel-awarded novelist, Ernest Hemingway, which is also known as “Theory of Omission”.

Answer 16

The Iceberg Theory

Question 17

These are deep-seated standards that influence almost every aspect of our lives: our moral judgments, our responses to others, our commitments to personal and societal goals.

Answer 17

Personal Values (Our Values)

Question 18

A firm where a single person holds the entire operation as his personal property, managing it on a day-to-day basis.

Answer 18

Sole Proprietorship

Question 19

A firm where a single business is managed by two or more people that shares the ownership.

Answer 19

Partnership

Question 20

It is a type of business that keeps the dealings, assets, and bank accounts separate from the owner’s personal assets.

Answer 20

Corporation

Question 21

These are set up in specific ways to accomplish different goals, and the structure of an organization can help or hinder its progress toward accomplishing these goals.

Answer 21

Organizations

Question 22

A type of business where decisions can be sometimes difficult because there is no other person or associate that will help you other than yourself.

Answer 22

Sole Proprietorship

Question 23

A type of business wherein it is generally inexpensive and easily formed structure. Because you have companions that you can trust and can definitely rely on.

Answer 23

Partnership

Question 24

A type of business where disagreements among partners is highly possible due to the fact that all human beings have different perspectives and attitudes towards business.

Answer 24

Partnership

Question 25

One of the many advantages of this type of business is that there is continuity. Despite having some loss in the financial aspect or maybe at the worst-case scenario – death of the owner, there is always a ready fix or someone to step-up in replacement.

Answer 25

Corporation

Question 26

In this type of business, the government is always on the watch in every income of your business. In turn, a higher tax on your corporate business in imposed.

Answer 26

Corporation

Question 27

It is a basic organization framework that has only direct, vertical relationships between different levels in the firm. It also has line departments, which are directly involved in accomplishing the primary goals of the organization.

Answer 27

Line Structure

Question 28

A variation of an organizational structure that is set up wherein each department of the organization is grouped according to its function or purpose.

Answer 28

Functional Structure

Question 29

This variation of an organizational structure is typically used in larger companies that have separate smaller organizations within the umbrella group to cover different types of products or market areas.

Answer 29

Divisional Structure

Question 30

One of the three (3) variations of an organizational structure is typically used in large multinational companies, it also allows the benefits of the different structures to exist in one organization.

Answer 30

Matrix Structure

Question 31

This is a business driven by specific local conditions and market characteristics. It also operates in a larger economic context.

Answer 31

Local Business

Question 32

The environment in this business outside the Philippines and in different sovereign countries are distinct to the home environment of the organization and the foreign country where the organization operates.

Answer 32

Foreign Business

Question 33

It is one of the factors in the international business which influences government legislations, rules and regulations that can either be friendly or unfriendly to the businesses.

Answer 33

Political Environment

Question 34

In the PESTEL Analysis, this covers domestic and global economy, taxation issues, exchange rate, and inflation.

Answer 34

Economic

Question 35

Under the PESTEL Analysis, current and future legislations, regulatory and body processes, employment law, and labor cases filed are some of the things that are covered in this analysis.

Answer 35

Legal

Question 36

It is a commonly shared picture of what the organization wants and is committed to become sometime in the future which can be expressed as the state in the future of the organization’s services, customers, stakeholders, core competencies, processes, and structure.

Answer 36

Vision

Question 37

It is an enduring statement of purpose of an organization’s existence that distinguishes itself from others. It answers the questions: Who are we? Why do we exist?

Answer 37

Mission

Question 38

These are fundamental and shared beliefs that will provide the organization’s behavior in meeting its objectives and in dealing with others. These are also the organization’s moral compass.

Answer 38

Values

Question 39

Among the SWOT Analysis, this refer to the internal competencies possessed by an organization that will enable it to achieve its objectives.

Answer 39

Strengths

Question 40

In the SMART Analysis, the goal should reflect accomplishments that are desired, not ways to accomplish them.

Answer 40

Specific