MAN3025 Assessment 2 – Flashcards
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Specific
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Goals cannot be vague (Sandy)
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Measureable
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Goals should be made quantifiable in some way. (paul)
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Attainable
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Goals should certainly challenge, but should also be do-able. (Amber)
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Results oriented
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Goals should be linked to the organization's mission.(nancy)
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Target Dates
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Provide a clear time frame for completion. (chris)
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Mission Statement
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Quality Vacuum has been manufacturing excellent vacuum cleaners for over 50 years. In the employee break room is a banner that reads, "We will always provide the highest-quality vacuums at the lowest cost to our customers and always give honest, winning customer service, thereby earning a fair profit for our stakeholders." This statement is Quality Vacuum's ____.
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Operational Goal
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Donna is the service desk coordinator in a department store, and she has set a goal this month of finishing her daily office work quicker so she can assist at the Service Desk earlier in the morning. She knows this will also help decrease theft, which will assist the company in achieving its goal of decreasing costs. Donna's goal of finishing her office work quicker is a(n) _____.
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Action Plan
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Mr. Jones, the department manager, told his employees that he wanted them to write down their work goals for the year. To help his workers achieve their stated goals, the next thing that he should ask for are each worker's ____.
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policy
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A standing plan that outlines the general response to a designated problem or situation is a(n) _____.
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provide direction and momentum, encourage new ideas, and develop a sustainable competitive advantage
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An organization should adopt planning and strategic management to ____.
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a specific commitment to achieve a measurable result within a stated period of time
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A goal is _____.
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Assess the current reality
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Zara's identification of customer needs can be categorized as which planning and strategic management step?
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It provided opportunities for the company to develop a competitive advantage.
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Why did Zara choose to take a chance and pre-order much less of the coming season's designs than its competitors?
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operational planning
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Decisions that retail managers make on which products to pull from the floor and which products to order more inventory are considered as _________.
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being differentiated
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Zara's goals should have all of the following characteristics except __________.
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Policy
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This month, Alice, the branch manager of Quality Computer Sales, has heard several complaints from customers that Quality employees do not return calls. Today a good customer told Alice that "my phone calls and e-mails are returned after maybe a week or so." Hearing enough, Alice mandated that "all customer phone calls and e-mails must be returned within 24 hours." This new directive by Alice is an example of a(n) _____.
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operational planning
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Writing employee schedules and a list of things to do for the cook is a type of ____.
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Control
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John, the owner of a lawn care service, likes to meet with his employees six months after their yearly evaluation to discuss how they are progressing on suggestions on and plans to improve their yearly job evaluation. At this point, by comparing the six-month results with the past evaluation, John is in the ______ steps of the planning/control cycle.
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operational goal
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Susan is a front-line supervisor in a grocery retailer. She desires to decrease the time she spends working on doing her daily closing work. This objective set by Susan and for her is an example of a(n) ____.
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controlling the direction of the planning/control cycle
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Alicia, a district manager for a global retailer, is traveling to different stores in her district to discuss with store managers how to increase profitability for the rest of the fiscal year. What is Alicia doing?
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mission statement, vision statement, and strategic planning
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David is starting a karate school, and he has been working with Mr. Smith, a business counselor with the SBA. Mr. Smith told David that the first three steps to planning his organization are (in the correct order) ___.
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Rule
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Because several computers and keyboards in the computer labs have been damaged recently by drinks and food being spilled, the department chair of the IT department issued a directive that "Absolutely no food or drink is allowed in any computer lab." This statement by the department chair is a(n) ______.
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to jointly set objectives and have managers develop action plans
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Andre, the plant manager, is interested in increasing the facility's productivity by utilizing MBO so that his managers and their employees are more focused on objectives. This month Andre asked his managers to concentrate on the two first steps of MBO, which are ____.
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Autocratic
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Which family business decision-making process will be most affected by bounded rationality?
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Confirmation Bias
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Which decision-making bias is most likely to plague consensus decision making?
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Groupthink
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What would not be considered an advantage of including all family members in the decision-making process?
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All correct
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Analytical - Arti Conceptual - Peyton Behavioral - Herb Directive- Colin
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implement and evaluate the training program chosen
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Jose, the sales manager, is working on the problem of increasing sales by using the rational model of decision making. In the first step he identified the problem of his employees needing more training. In the second step he thought of alternative solutions; and in step three he evaluated alternatives and selected a solution. In the fourth step, Jose needs to _____.
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giving it more time, changing it slightly, trying another alternative, or starting over
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Doug is using rational decision making, and the chosen alternative that was implemented does not appear to be working. To correct the situation, the possibilities Doug should consider include _____.
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bounded rationality
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Susanne, the CEO of national IT manufacturer, was approached by Simple Phones, a new company that is marketing a new type of phone, to partner with the company on a project. The partnership is uncertain since the company and technology are new. Susanne is uncertain what to do because she is limited by numerous constraints, such as the uncertainty and complexity of the technology, the management success of Simple Phones, and time, since other companies are interested in the partnership. This is an example of _____.
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rational decision making
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Chad and his partner, John, have decided to update their computer network, although they have no expertise in this area. During a meeting with John, Chad commented that "Our decision is limited by numerous constraints, such as our understanding of the complexity of technology, time and money, imperfect information, and our conflicting goals." These limitations are hindrances to _____.
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has a low tolerance for ambiguity
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Debbie likes working in the banking industry because there is a lot of structure and certainty, and the daily work is routine. Debbie probably _____.
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heuristics
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Gregory was talking with Tom, his assistant manager, saying, "When I make a decision on which employee to pick to do a project, I use three simple factors, which I call my decision making "rules of thumb." I consider their attitude and knowledge, and how hard they work." Gregory's rules of thumb, which he uses in decision making, are known as _____.
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representativeness
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Paul, the store manager, recently had to fire Sue, an employee who graduated from North College. He felt that Sue was not well trained at her school. So when Steven, also a graduate from North College, applied for Sue's old position, he did not want to consider hiring him, feeling Steven also probably did not receive the proper training. Paul was affected by _____ bias.
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Framing Bias
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In the political ads for Representative Joe Smith, the Democratic candidate, he is portrayed by the Republican-sponsored ads as being dishonest and poor at his job. Yet, the ads for Joe Smith, which are paid for by the Democratic supporters, describe him as being caring, honest, and a hard worker. The sponsors of these advertisements know that ads can affect whom voters choose on Election Day. This tendency of decision makers, the voters in this case, to be influenced by how a situation or problem is presented to them is known as ____.
