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The four functions of management are planning, leading, organizing, and controlling.
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To achieve successful goals of management includes people, money, and time.
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Managers who report to higher-level managers but are supervisors to lower-level managers are considered to be first-line managers.
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Another name for first-line managers is supervisory.
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Determining an organizational goal and action plan for achieving those goals is called organizing.
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Monitoring performance and making adjustments as needed is the role of controlling.
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Required skills for managers would include: (check all of the following)
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Communication skills
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Technical skills
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Conceptual skills
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Human skills
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Operational skills
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Organizational skills
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The need to feel secure, free of harm, and free of fear is the need for safety.
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List in order from easiest to fulfill to the most difficult to fulfill in Maslow's Needs.
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physiological, social, esteem, safety, self-actualization
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social, physiological, esteem, safety, self-actualization
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Safety, physiological, esteem, social, self-actualization
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physiological, safety, social, esteem, self-actualization
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Establishes a vision for the company is the job of tactical planning.
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The relationship among individual effort, individual performance, and individual reward is the equity theory.
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For unexpected events, involving a range of scenarios and assumptions that differ from the assumptions behind the core plans are a part of Contingency Planning.
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The SWOT analysis helps managers evaluate an organization by external strengths and weaknesses, and internal opportunities and threats.
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Bringing specialists to different areas of the company to work on specific tasks or individual projects temporarily is called Line-and-Staff organization.
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Set objectives for followers but give them freedom to do what they need to accomplish is called
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democratic leaders
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free-rein leaders
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autocratic leaders
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To encourage American firms to focus on quality improvement is ISO9000.
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Funds a firm uses to acquire its assets and finance its operations is called?
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Finance
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Financial Capital
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Risk-return Tradeoff
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Financial Management
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What are short-term financing sources? (Check all that apply)
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Returned Investment
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Commercial Paper
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Factor
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Capital Structure
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Trade-Credit
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Mix of equity and debt financing a firm's uses to meet its permanent financing needs is called Financial Leverage.
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A budgeted income statement is a projection showing how a firm's budgeted [blank_start]sales[blank_end] and [blank_start]costs[blank_end] will affect expected net income.
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sales
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assests
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owner's equity
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costs
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Ability of a firm to obtain the cash it needs to pay short-term debt
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Asset management ratios
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Leverage ratios
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Profitability ratios
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Liquidity ratios
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Employees who do not expect normal, full-time hours are called contingent workers.
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Verifies the financial statements of a firm, prepared by an external auditor are management reports
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Protects creditors by preventing the borrower from pursuing policies that might undermine its ability to repay loans
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Commercial paper
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Covenants
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Trade credit
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Money Market Mutual Fund
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Specific and measurable, realistic but challenging, tied to a time frame
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Noise
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Decentralization
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Clear Standards
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Task Significance
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Examples of Fixed Position Layout
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Drilling and cranes
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Trucks and ports
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Nike Outlet
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Office
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Reduces the number of employees
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Benefits the fixed cost for company
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Decreases cost savings for employees
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Increases cost savings for employees
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Protect employees from unfair treatment by employers
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Employment Legislation
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Human Resources
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GAAP
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Commision