Ch. 8 Quiz 2 Managing People and Work – Flashcards
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Which of the following can be defined a threat according to the five forces model?
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Correct Only a few large customers are available to buy an industry's output
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According to Henry Fayol an effective plan should have four qualities, namely unity, continuity, accuracy, and _____.
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flexibility
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Which of the following statements about simultaneously pursuing both a low-cost strategy and a differentiation strategy is true?
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Correct Extremely well managed companies may be able to keep low costs and differentiate their products.
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Two divisions of a company decide to use the same manufacturing facilities to capitalize on the organization's excess capacity and reduce fixed costs. This is an example of _____.
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synergy
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To determine an organization's missions and goals, managers must first _____.
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Correct define its business
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Plans that are developed to handle nonprogrammed decision making in unusual or one-of-a-kind situations are called _____.
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Correct single-use plans
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Selling the same standardized product and using the same basic marketing approach in each national market is called _____.
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Correct global strategy
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In large organizations the functional level of management is also known as the _____ of management.
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Correct departmental level
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Which of the following will most likely be an opportunity according to an organization's SWOT analysis?
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Correct The company can probably takeover one of its bankrupt competitors.
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An organization attempting to succeed by distinguishing its products from those of the competition is most likely to use a(n) _____.
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Correct differentiation strategy
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A _____ enables managers to make midcourse corrections if environmental changes warrant or to change the thrust of the plan altogether if it no longer seems appropriate?
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Correct rolling plan
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A(n) _____ strategy indicates how a division intends to compete against its rivals in an industry.
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Correct business-level
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Though not formally written, an organization allows its employees to dress casually on Fridays. This is a(n) _____ of the organization.
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policy
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The SUV division of a major automobile corporation decides to release a new model a month ahead of its stated release and notifies the decision to all the departments associated with the division. The departmental managers must alter their _____ to accommodate the earlier release date.
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Correct functional-level plan
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A written set of instructions which describes the series of actions that a manager should take in a specific situation is known as a:
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Correct standard operating procedure.
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In order to cater to local tastes and culinary traditions, and often in respect of particular laws or religious beliefs, McDonald's offers customized versions of its menu to suit different countries. This is an example of _____.
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Correct multidomestic strategy
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An agreement in which managers pool or share their organization's resources and know-how with a foreign company, and the two organizations share the rewards and risks of starting a new venture is called a(n) _____.
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Correct strategic alliance
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Top management's decisions pertaining to the organization's mission, overall strategy, and structure constitutes an organization's _____.
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Correct corporate-level plan
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In the Five Forces Model, the _____ that companies compete against one another for customers, the _____ the level of profits is likely to be for that industry.
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Correct more; lower
