1. The outcome of the controlling function should be the ability to measure the organization's performance accurately.
2. Self-managed teams and empowerment are ways to increase efficiency and effectiveness in an organization.
3. The last step in the planning process is to determine the organization's mission and goals.
4. The technological, sociocultural, demographic, and global forces that affect the organization are known as the general environment.
5. When new competitors enter an industry, prices in the industry typically increase.
6. The planning, organizing, leading, and controlling of resources in order to achieve organizational goals both effectively and efficiently is known as management.
7. Increase in a firm's effectiveness will increase its performance, but increase in efficiency will have no predictable effect on performance.
8. Decision making is the process by which managers respond to the opportunities and threats that confront them by analyzing the options and making determinations.
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