Principles of Management quiz #1

Technical skills
skills necessary to accomplish or understand the specific kind of work done in an organization.
Interpersonal skills
the ability to communicate with, understand and motivate both individuals and groups.
Conceptual skills
the manager’s ability to think in the abstract
Diagnostic skills
the skills that enable a manager to visualize the most appropriate response to a situation
Communication skills
A manager’s ability to both effectively convey ideas and information to others and effectively receive ideas and information from others.
Decision-making skills
The manager’s ability to correctly recognize and define problems and opportunities and to then select an appropriate course of action to solve problems
Time management skills
The manager’s ability to prioritize work, to work efficiently and to delegate work appropriately
Organizing
Determining how activities and resources are to be grouped
Leading
The set of processes used to get members of the organization to work together to further the interests of the organization
Controlling
The process of monitoring the organization’s progress towards its goals
Planning
Setting an organization’s goals and deciding how best to achieve them
Theory X
People do not like work and try to avoid it
Theory Y
People will both seek and accept responsibility under favorable conditions
Tactical plan
A plan concerned more with getting things done than deciding what to do
Differentiation Strategy
An organization that pursues a strategy to distinguish itself from competitors through the quality of its products or services
Strategic plan
A general plan outlining decisions about resource allocation, priorities, and action steps necessary to reach strategic goals
Question marks
Businesses that have only a small share of a quickly growing market and the future performance is uncertain
Dogs
Businesses that do not hold much economic promise