Bush midterm

A manager is responsible for overseeing the performance of others.

true

Honesty and communication are important qualities for a manager.

true

The main goal of management is to achieve organizational goals.

true

Resources such as time, money, technology, employees, and customers are not important for management.

false ( These resources are extremely important for management)

Time is considered one of the most important resources for a manager.

true

Managers do not need to communicate with higher-ups or employees to be effective.

false ( Connections with higher-ups and employees are important for managers)

Management is only about being strict and does not require fairness.

false ( Managers should be strict but fair)

Organizational attire is not related to management responsibilities.

false (Professional attire can be part of management responsibilities)

Time is the most important resource for managers.

true

Managers can always get lost time back if they plan well.

false

“Time is money” means that wasting time can lead to losing money.

true

Customers are usually happy to wait a long time for service.

false

All goals should have a deadline or timeframe associated with them.

true

Time is often considered the most stolen resource for managers

true

Effectiveness is the ability to consistently complete goals

true

Efficiency means using as many resources as possible to complete goals.

false

An organization is a group of people working together to achieve similar goals in a workplace setting.

true 

A private company is a for-profit organization that is not listed on the stock market.

true

Non-profit organizations are considered private companies

false

Amazon, Nvidia, and Meta are examples of private companies.

false

Public companies have their shares traded on stock exchanges like NASDAQ.

true

Only public companies can be for-profit

false

Non-profit organizations are created to provide a service or common good for society.

true

Non-profit organizations can keep all their profits for personal use.

false

Most charities, religious institutions, and private schools are examples of non-profit organizations.

true

Non-profit organizations are required to pay taxes on their income.

false

The Red Cross and Make-A-Wish Foundation are examples of non-profit organizations.

true

A government entity is always privately owned and never receives government funding

false

Government entities are funded by money collected from taxes

true

Synagogues, mosques, and temples are considered non-profit organizations.

true

Election campaigns are an example of a government entity.

false

The main purpose of a non-profit organization is to make as much profit as possible for its owners.

false 

Henri Fayol believed all managers needed to perform four functions in order to be successful.

true

The four functions of management are planning, organizing, leading, and controlling.

true

Planning involves setting goals, determining methods to achieve them, creating deadlines, budgets, contingency plans, and conducting research.

true

Organizing means motivating employees so they can contribute to achieving organizational goals.

false ( Organizing involves determining tasks, assigning responsibilities, scheduling, managing time, creating documents, policies, procedures, and hiring people.

Leading involves motivating and directing employees to help achieve organizational goals.

true 

Controlling is about monitoring progress, comparing results to goals, and making corrections if necessary.

true 

Organizing includes setting goals and analyzing potential methods for achieving those goals.

false

Creating schedules, calendars, and managing time are part of the organizing function.

true 

The interpersonal role describes how managers interact with other people.

true

The figurehead role involves making major company decisions.

false — It involves performing symbolic or ceremonial duties without real authority.

Shaking hands with a president or cutting a ribbon are examples of a figurehead role.

true

The leader role focuses on motivating and directing employees to reach goals.

true 

The liaison role means a manager isolates themselves from other departments.

false - It means coordinating activities between different groups or departments.

A general manager coordinating car sales and training staff is an example of a liaison role.

true

The informational role involves how managers handle and share information.

true 

The monitor role requires managers to constantly look for information that can help reach goals.

true

A manager who provides employees with updated sales figures acts as a disseminator.

true 

The spokesperson role means representing others without power or authority.

false — The spokesperson represents others with power or authority.

A manager attending a meeting on behalf of employees is an example of a spokesperson role.

true 

The decisional roles describe how managers use information.

False — They describe how managers make decisions.

The entrepreneur role involves taking risks and using capital to start new projects.

true

In a company, a capital project always costs under $10,000.

False — Capital projects involve large sums of money, and the amount depends on the company.

The resource allocator role involves giving employees the right tools or training to do their jobs.

true 

Buying new accounting software for a team is an example of the resource allocator role.

true

The negotiator role requires managers to compromise to make deals.

true

The disturbance handler role means ignoring problems that deviate from the plan.

False — It means finding and fixing problems that deviate from what was planned.

The disturbance handler role is similar to the controlling function of management.

true