Chapter 1: Managing Effectively in a Changing World

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Which of the following are factors that drive successful performance for a company, ultimately leading to competitively advantage? – Quality – Innovation – Language – Service
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– Quality – Innovation – Service The fundamental sources of competitiveness advantage are innovation, quality, service, speed, and cost competitiveness
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Controlling definition
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– Monitoring performance and making needed changes
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Components of Total Quality Management
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– Achieving zero defects in manufacturing – Preventing defects before they occur – Operating with a philosophy of continuous improvement – Designing products for quality
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5 key elements that make current business different from the past are globalization, technological change, an increasingly diverse labor force, collaboration across organizational boundaries, and ___ – Knowledge and ideas – Self-reliance – Common language – Currency Stabilization
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Knowledge and ideas
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Ways technological change has impacted management
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– Facilitates design of new products – Improves efficiency of decision making – Reduces costs and speeds up globalization – Increases the need to react to rapid technological change
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All of the six ways that quality can be appropriately measured
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– Product performance – Customer Service – Reliability – Conformance to standards – Durability – Aesthetics
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In order to compete in today’s business, it is important to deliver value to customers in ways that are superior to the competition. Which of the following does NOT help a company gain a competitive advantage? – Quality – Service – Innovation – Stability – Cost competitiveness – Speed
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Stability
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Which of the following are ways that innovation affects organization and management? – Develop new ways to communicate with customers – Compete by producing new products – Maintain traditional distribution channels – Create new ways to deliver products to customers – Need to adapt to changes in consumer demands
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– Develop new ways to communicate with customers – Compete by producing new products – Create new ways to deliver products to customers – Need to adapt to changes in consumer demands
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What are some of the techniques used by organizations to collaborate across boundaries? – Bring together employees from different division to collaborate – Use social networking sites to collect information about customer attitudes – Use software to share knowledge – Collaborate with distributors to develop products – Analyze current sales and then submit a written report to the supervisor
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– Bring together employees from different division to collaborate – Use social networking sites to collect information about customer attitudes – Use software to share knowledge – Collaborate with distributors to develop products
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Which of the following are key factors influencing the growth of globalization in the competitive landscape? – Management and staff are always from the home country of the corporation – International markets are growing with rising incomes and increased demand – Corporate operations transcend national borders. – Offices and production facilities are worldwide
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– International markets are growing with rising incomes and increased demand – Corporate operations transcend national borders. – Offices and production facilities are worldwide
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3 essential categories of skills that managers need are technical skills, interpersonal skills, and – Performance Skills – Knowledge – Logistical – Decision
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Decision Skills
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Role of knowledge management in modern business – Find human assets – Determine if knowledge workers are doing a good job – Help people generate new ideas – Help people collaborate and learn – Measure knowledge worker output – Develop new ideas into successful innovations
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– Find human assets – Determine if knowledge workers are doing a good job – Help people generate new ideas – Help people collaborate and learn – Develop new ideas into successful innovations
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Practices aimed at discovering and harnessing an organization’s intellectual resources are called – Cost Competitiveness – Production management – Knowledge management – Quality control
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Knowledge management
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What is the role of knowledge managers in successful innovation?
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– Capitalize on people’s expertise, skills, wisdom, and relationship – Help people generate and develop ideas into innovation – Find the intellectual assets of the people of the organization – Help people collaborate and learn
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A relatively new type of manager who engages in a variety of behaviors designed to achieve team effectiveness is called a ___
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Team Leader
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Managers spend their time performing three broad roles…
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Informational Decisional Interpersonal
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The management function of organizing includes __ – stimulating high performance be employees – assembling and coordinating all resources need to achieve goals – making decisions about the goals and activities that the organization will pursue – monitoring performance and making needed changes
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Assembling and coordinating all resources needed to achieve goals
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Because companies in advances economies have become so efficient at producing physical goods, most workers have been freed up to provide “abstract goods” which include:
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Software Entertainment Date Advertising
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____ is about finding, unlocking, sharing, and capitalizing on the most precious resources of an organization: people’s expertise, Skills, Wisdom, and relationships.
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Knowledge management
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Planning activities in management
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– Determining objectives – Determining the resources needed to achieve the organization’s goals – Anticipating the future – Deciding in what type of activities the company will engage – Choosing corporate and business strategies – Analyzing current situations
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Frontline managers are:
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Lower-level managers who supervise the operational activities of the organization
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Senior executives responsible for the overall management and effectiveness of the organization are called:
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Top-Level Managers
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The four traditional functions of management: – Organizing – Controlling – Planning – Leading – Innovating – Reacting – Adapting
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– Organizing – Controlling – Planning – Leading
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__ monitors performance and implements necessary changes
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Controlling
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The responsibilities of middle-level managers include:
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– Putting together separate business plans from the lower units for higher-level corporate review – Servicing as linchpins of internal communication between top management and frontlines
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Today and in the future in order to lead effectively, managers must be good at __ people to contribute their ideas
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motivating
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NOT one of the trends in the U.S. labor market expected through 2018 – A higher percentage of women than men will join the workforce – The labor market will decrease in diversity – One out of four will be over 55 years old – Hispanics will grow to about 18% of the labor force
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The labor market will decrease in diversity
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__ is the set of practices aimed at discovering and harnessing an organization’s intellectual resources while fully utilizing the intellects of the organization’s people – Intellectual stimulation – Intellectual Property – Intellectual redundancy – Intellectual management
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Intellectual management
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Which of the following represent ways that quality can be measured? – Product performance – Aesthetics – Conformance to standards – Employee satisfaction – Durability – Customer service – Market share – Reliability
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– Product performance – Aesthetics – Conformance to standards – Durability – Customer service – Reliability
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Planning activities include analyzing current situations, anticipating the future, determining objectives, deciding what types of activities the company will engage, choosing corporate and business strategies, and __ – Achieving efficiency – Balancing the budget – Determining the resources needed to achieve the organization’s goals – Minimizing defects needed to achieve effectiveness – increasing human resources
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– Determining the resources needed to achieve the organization’s goals
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Expertise in __ skills is especially important in managing knowledge workers because knowledge workers are independent-minded. – People – Structural – Technology – Logistical
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People
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A manager’s use of conceptual and decision skills __ with greater responsibility. – Decreases – Increases – Stays the same
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Increases
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The percentage of Asians in the US labor force is expected to grow to about – 30% – 6% – 21%
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6%
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Ways that innovation affects organizations and management
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– Develop new ways to communicate with customers – Compete by producing new products – Create new ways to deliver products to customers – Need to adapt to changes in consumer demands
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Which of the following is one of the most important process of knowledge management? – ensure that people in different parts of the organization collaborate effectively with one another – developing measurement for knowledge worker productivity – develop a set of practices in which information is secured within a division or department
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Ensure that people in different parts of the organization collaborate effectively with one another
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Which of the following is considered an intangible product that is considered service? – Camera – Cell Phone – I-Pad – Insurance
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Insurance
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Speed refers to the fast and timely execution, response, and __ of results – Manipulation – Discard – Delivery – Integration
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Delivery
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Which of the following are main functions of an effective knowledge management system for a hospital? – Patient History – Prescription – Vehicle license plates – Appointments – Death certificate – Billing
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– Patient History – Prescription – Appointments – Billing
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One of following best describes the types of companies that are affected by globalization – Small companies only – All sizes of companies – Large corporations only – Medium and large corporations
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– All sizes of companies
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The management function of planning includes__
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Systemically making decisions about the goals and activities that an individual, a group, a work unit, or the organization will pursue
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Managers located in the middle layers of the organizational hierarchy, reporting to the top-level executives are called: – Middle-level managers – Top-level managers – Leaders – Front-line managers
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Middle-level managers
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How does leading help to mobilize people in an organization?
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– By motivating and communicating with employees to help guide and inspire them to achieve team and organization goals
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The process of keeping costs low in order to achieve profits and to be able to offer prices that are attractive to consumers is called __ – Total quality control – Speed – Workforce efficiency – Cost Competitiveness
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Cost Competitiveness
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How are “people skills” important to success as a manager?
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– Managers spend a great majority of their time interacting with people so “people skills” are essential – The ability to lead, motivate, and communicate effectively with others depend on “people skill” – Knowledge of a particular field gets a manager hired but “people skills” are important to move to top-level management.
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Responsibilities of frontline managers:
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– Along with the non-management employees, implementing the specific plans developed with middle managers – Supervise the operations of the organization
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The main challenges facing global management include all of the following EXCEPT: – Designing products that suits the foreign market – Maintaining operations in foreign countries – Low-cost foreign competitors entering the market – Managing international employees
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Designing products that suits the foreign market
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What stakeholder groups must a manager consider when leveraging diversity? – Government officials – Customers – Employees – Suppliers – Competitors
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– Government officials – Customers – Employees – Suppliers
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The internet has caused traditional markets to learn how to innovate in order to remain competitive by:
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Allowing marketers to bypass traditional distribution channels and reach buyers directly
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People skills include the ability to lead, motivate, and communicate effectively with others. These skills are called __ – Management Skills – Technical Skills – Interpersonal and Communication Skills – Conceptual and Decision Skills
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Interpersonal and Communication Skills
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The Internet had made __ both more possible and more inevitable as increasing numbers of users gain access and people developing countries turn to the power of the Web – Performance – Globalization – Efficiency – Effectiveness
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Globalization
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Today and in the future in order to lead effectively, managers must be good at __ people to contribute their ideas to use their brain in ways never needed or dreamed in the past – Mobilizing – Controlling – Structuring – Hiring
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– Mobilizing
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The value of having technical skills to the overall performance of a good manager
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– Provides an opportunity to get an entry level management position – Technical skills in specialized areas, such as accounting and finance, are needed to understand and manage financial resources of an organization
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The difference in the role and responsibilities of frontline managers today with those in the past
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– They are expected to be innovative and entrepreneurial, managing for growth and new business development – Initiate new activities
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Totoya and PTC decided to identify together how software could support the company’s strategy of “lean product development,” and kept meeting regularly to continue improving the software. This type of helped to: – Alienate both corporations and breakdown the working relationship – Improve the values of the software PTC could offer – Create a better software product for Toyota – Bring to light the problems with Toyota’s corporate structure
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– Improve the values of the software PTC could offer – Create a better software product for Toyota
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Which of the following are the roles of top-level mangers? – Focus on broad strategic issues – Work extensively with outside individuals and organizations – Overall management of the organization – Supervise the operational activities of the organizations
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– Focus on broad strategic issues – Work extensively with outside individuals and organizations – Overall management of the organization
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At Toyota engineers and manufacturing employees uses a product development software which includes an online database that provides a central, easily accessible source of information about designs and processes. This form of knowledge management supports __ – Collaboration – Internal competition – Group think – Complications
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Collaboration
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The expectations placed on top managers today compared with those in a traditional top-level management position in the past
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– Top managers today are expected to create and articulate a broader corporate purpose with which people can identify and commit – Top managers today are expected to be true organizational leaders.
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An employee whose primary contributions are ideas and problem-solving expertise is known as a – Corporate investigator – Spend thrift – Knowledge worker – Whistle blower
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Knowledge worker
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What happens if as a manager, you fail to perform all four management functions, leaving out any one of them? – May fail to inspire employees to perform are high levels – Will not reach your full potential as a manager – Not know if you are headed on the right track in meeting goals – Are more likely to be recognized for your talents
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– May fail to inspire employees to perform are high levels – Will not reach your full potential as a manager – Not know if you are headed on the right track in meeting goals
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MFG.com runs a website where manufacturers that need parts post their specifications online, and suppliers bid to provide those parts. After pressure from both manufacturers and suppliers to include Asian companies that could usually provide lower prices, the company’s manager, who was inexperienced in international management, decided to expand. The best way to successfully manage this management problem brought on by technological change is __
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Determine the differences in business practices in the international market and acquire a more internationally experienced staff of managers
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Which of the following are the activities involved in controlling? – Implementing necessary changes – Assembling and coordinate resources needed to achieve goals – Encourage higher performance by employees – Monitoring performance
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– Monitoring performance – Implementing necessary changes
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Assembling and coordinating human, financial, physical, informational, and other resources needed to achieve goals is called __ – Transference – Recruiting – Selection – Organizing
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Organizing
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Good, successful managers often demonstrate a set of interpersonal skills known collectively as Emotional Intelligence (EQ). EQ combine these skill sets: – Showing empathy – Understanding your strengths and limitations – Working quickly and efficiently – Understanding new technologies – Exercising self-control
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– Understanding your strengths and limitations – Showing empathy – Exercising self-control
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Traditionally, the role of top-level managers has been set overall direction by formulating strategy and controlling resources but now they are also called on to be true organizational ___.
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Leaders
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What is the role of cost competitiveness between organizations? – Organizations that are able to keep costs low, make profit, and price products at a lower price are more likely to succeed. – Companies compete by pricing their products to cover their costs and make substantial profit – Companies that avoid pricing too low but provide high levels of service are more likely to be successful – Organizations that compete must coordinate pricing so they are controlling costs
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– Organizations that are able to keep costs low, make profit, and price products at a lower price are more likely to succeed.
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Organizing activities include which of the following? Select all that apply – Motivating and communicating with people – guiding and inspiring people – grouping jobs into work units – Attracting people to the organization – Allocating resources – Specifying job responsibilities
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– Attracting people to the organization – Specifying job responsibilities – grouping jobs into work units – Allocating resources
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The management function that involves the manager’s efforts to stimulate high performance by employees is called: – planning – leading – organizing – controlling
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– Leading
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Which of the following activities are associated specifically with the leading function? Select all that apply – guiding and inspiring employees to achieve organizational goals – making adjustments when goals are not achieved – motivating and communicating with employees – monitoring performance
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– motivating and communicating with employees – guiding and inspiring employees to achieve organizational goals
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Usually newer or younger managers that are expected to initiate new activities and supervise the organization’s operations are know as – frontline
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– frontline
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The process of working with people and resources to accomplish organizational goals is called ___. – Management – Controlling – Entrepreneurship – Modeling
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– Management
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Choose from the list the four major waves of change that are part of the challenges of managing in the new competitive landscape – Globalization – The importance of knowledge and ideas – Technological change – Emotional intelligence – Mobilizing People – Collaboration across organizational boundaries – Cost competitiveness
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– Globalization – Technological change – The importance of knowledge and ideas – Collaboration across organizational boundaries Also: – Increasingly diverse labor force
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___ is the excellence of a product, whether it be goods or services. – Quality – Mechanism – Effectiveness – Efficiency
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– Quality
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A ___ manager puts together separate business unit planes from the units below them for higher level corporate review. – middle – top – frontline – operational
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– middle Middle level managers bridge the gap between higher and lower levels Channeling information from the frontlines upward
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___ monitors performance and implements necessary changes. – Leading – Controlling – Planning – Organizing
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– Controlling
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To be competitive, the best managers deliver the fundamental competitive advantage success drivers: innovation, quality, service, speed, and ___ – employee benefits – diversity initiatives – payroll packages – cost competitiveness
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– cost competitiveness
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How are “people skills” important to success as a manager? – the ability to lead, motivate, and communicate effectively with others depend on “people skills” – Managers spend a great majority of their time interacting with people so “people skills” are essential – In order to be respected and successful at the top-level, managers need to develop and maintain only technical skills – Knowledge of a particular field gets a manager hired but “people skills” are important to move to top-level management.
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– the ability to lead, motivate, and communicate effectively with others depend on “people skills” – Managers spend a great majority of their time interacting with people so “people skills” are essential – Knowledge of a particular field gets a manager hired but “people skills” are important to move to top-level management.
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Which of the following is the definition of controlling? – Monitoring performance and making needed changes – Efforts to stimulate high performance by employees – Making decisions about goals and activities that will be pursued – Assembling and coordinating resources needed to achieve goals
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– Monitoring performance and making needed changes
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The focus of ___ in an organization is giving customers what they want or need, when they want it. This helps establish mutually beneficial long-term relationships, – utilitarianism – universalism – entrepreneurship – service
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– service
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The goodwill stemming from your social relationships is called ___ – social capital – service – quality – technical capital
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– social capital
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The management function of specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals is called ___ – efficiency – leading – controlling – planning
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– planning
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Which of the following are the fundamental drivers of competitive advantage? – Speed – Innovation – Quality – Cost competitiveness – Trustworthiness – Service – Organization
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– Speed – Innovation – Quality – Cost competitiveness – Service
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Today frontline managers are expected to do which of the following? Select all that apply – manage for growth and new business – Following direction from above without thinking – initiate new activities – be entrepreneurial
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– manage for growth and new business – initiate new activities – be entrepreneurial
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Which of the following are reasons for speed being a competitive advantage? Select all that apply – a faster organization can quickly adjust to market demands – a faster company can respond to competitor’s actions – a faster organization can quickly react and respond to customer’s requests – a faster company can have more mistakes but cannot correct them as quickly – a faster company has a market advantage by getting it to the consumer quickly
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– a faster organization can quickly adjust to market demands – a faster company can respond to competitor’s actions – a faster organization can quickly react and respond to customer’s requests – a faster company has a market advantage by getting it to the consumer quickly
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The ___ approach to quality was to check work after it was completed and then eliminate defects, using inspection and statistical data to determine whether products were up to standards. – quality – administrative – traditional – spectrum
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– traditional
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Today and in the future, ___ make it possible to achieve controls in more effective ways which in turn helps people throughout the company change in ways that forge a successful future – faster typing skills – new employees – old, proven methods – new technologies
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– new technologies
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Globalization affects small companies as well as large companies. – True – False
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True
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The Internet has changes the way individuals conduct their work. Through the use of high-tech gadgets, employees and their managers are ___. – having to work in the office more than they are used to – able to stay connected to work anytime and anywhere – less connected than ever before – shutting themselves off from work when they are not in the office
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– able to stay connected to work anytime and anywhere
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Which of the following are the roles and responsibilities of frontline managers? – Supervise the operations of the organization – Work extensively with outside individuals and organizations – Translate the general goals by strategic managers into more specific objectives and activities – Along with the non-management employees, implementing the specific plans developed with middle managers
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– Along with the non-management employees, implementing the specific plans developed with middle managers- Supervise the operations of the organization – Supervise the operations of the organization
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A management process in which people in different parts of an organizations share information throughout the development of a product or process is called ___. – structure – collaboration – logistics – organization
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– collaboration
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Components of Cost Competitiveness. Select all that apply – using life cycle analysis – increasing profit margins – keeping costs low – pricing products attractively to customers – increasing defect rates
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– keeping costs low – pricing products attractively to customers – increasing profit margins
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Connor uses his skills and engages in a variety of behaviors to help his team achieve maximum effectiveness. Connor is what type manager? – Team leader – Top-level – Entrepreneur – Middle-level
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– Team leader
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What is the value of having technical skills to the overall performance of a good manager? – assures opportunity of top-level management position in large organizations – provides an opportunity to get an entry-level management position – technical skills in specialized areas, such as accounting and finance, are needed to understand and manage financial resources of an organization. – eliminated need for technical employees in the organization
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– provides an opportunity to get an entry-level management position ( The technical skills you learn in school will provide you with the opportunity to get an entry-level position) – technical skills in specialized areas, such as accounting and finance, are needed to understand and manage financial resources of an organization.

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