Managing the Business Enterprise
True or False

1 .       The starting point in effective management is setting strategy. 

 
 


2 .       An organization commits its resources to achieving its goals only at the business unit or product line level. 

 
 


3 .       Mission statements are statements of how an organization will achieve its purposes in the environments in which it conducts its business. 

 
 


4 .       Long-term goals relate to a period of one to five years. 

 
 


5 .       A business strategy outlines how the business intends to meet its goals and includes the organization's responsiveness to new challenges and new needs. 

 
 


6 .       Tactical plans set short-term targets for daily, weekly, or monthly performance. 

 
 


7 .       A contingency plan is a hedge against changes that might occur. 

 
 


8 .       When a manager works to guide and motivate employees to meet the firm's objectives, it is a part of the management process called controlling. 

 
 


9 .       In large companies, only top and middle managers work in the human resources, operations, marketing, information, and finance areas. 

 
 


10 .       Marketing managers are responsible for getting products from producers to consumers. 

 
 


11 .       The skills needed to perform specialized tasks are called time management skills. 

 
 


12 .       The four leading causes of wasted time are paperwork, telephone, meetings, and e-mail. 

 
 






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