1. Define efficiency and effectiveness and explain their relationship to the process of management.
2. List and briefly define the four functions of management.
3. Specify the differences in the timeframes involved in planning done by top, middle, and first-line managers.
4. Differentiate between closed systems and open systems.
5. Briefly differentiate between the external and internal environments that companies face and explain why these environments are important.
6. Identify and provide examples of the two important ways in which socio-cultural changes and trends influence organizations.
7. What is ethical behavior? Briefly comment on its implications for conducting business internationally.
8. Identify three ways of increasing goal commitment. Which one is most commonly used by managers?
9. Explain what is meant by a grand strategy and list and define the three types of grand strategies.
10. How do companies use situational analyses and what are the basic components of a situational analysis?