MGMT 1ST EXAM - Flashcards

question

Management

answer

getting work done through others

question

Efficiency

answer

getting work done with minimum effort, expense, or waste

question

Effectiveness

answer

accomplishing tasks that help fulfill organizational objectives

question

planning, organizing, leading, controlling

answer

4 functions of management

question

planning

answer

involves determining organizational goals and means for achieving them

question

organizing

answer

deciding where decisions will be made, who will do what jobs/ tasks and who will work for whom in the company

question

leading

answer

involves inspiring and motivating workers to work hard to achieve organizational goals

question

controlling

answer

monitoring progress toward goal achievement and taking corrective action when progress isn't being made

question

top managers, middle managers, first line managers, team leaders

answer

levels of management and their responsibilities

question

top managers

answer

responsibilities are change, commitment, culture, environment (CEO, COO, CFO, CIO)

question

middle managers

answer

responsibilities are resources, objectives, coordination, sub-unit performance, strategy implementation (general, plant, regional, divisional)

question

first line managers

answer

responsibilities are non-managerial worker supervision, teaching and training, scheduling, facilitation (office, shift, department)

question

team leaders

answer

responsibilities are facilitation, external relationships, internal relationships (team leader, team contact, group facilitator)

question

scientific management

answer

thoroughly studying and testing different work methods

question

Fredrick W. Taylor

answer

father of scientific management developed 4 principles of scientific management introduced time study

question

time study

answer

time taken by good workers to complete each part of their job

question

1- develop a science for each element of a mans work; replaces rule of thumb method 2- scientifically select and train, teach and develop the workman, whereas in the past he chose his own work and trained himself 3- cooperate with men to ensure all work being done is in accordance with principles of the science that has been developed 4- there is almost equal division of work between the workmen and manager, everyone does what they're best at

answer

4 principles of scientific management

question

motion study to simplify work and improve productivity

answer

Frank & Lilly Gilbreth's contribution to management theory

question

motion study

answer

breaking each task/job into its separate motions and then eliminating those that are unnecessary or repetitive

question

introduced the Gantt chart

answer

Gantt's contribution to management theory

question

Gantt Chart

answer

indicates what tasks must be completed at which times in order to complete a task

question

Max Weber proposed it Bureaucracy Characterized elements of bureacracy

answer

Bureaucracy and bureaucratic management principles

question

bureaucracy

answer

exercise control on the basis of knowledge, expertise, or experience

question

1- qualification based on hiring and merit 2- chain of command and division of labor 3- impartial application of rules and procedures 4- records in writing 5- managers separate from owner

answer

characterized elements of bureaucracy

question

14 principles of management and 5 functions of managers

answer

Henry Fayol's contributions to management theory

question

developed an approach of integrative conflict resolution, domination, and compromise

answer

Mary Parker-Follett theory on conflict

question

general environment

answer

economy, technology, sociocultural, political/legal

question

economy

answer

growing = has more money to spend and shrinking = less to spend; shows manager's level of confidence and future business growth

question

technology

answer

knowledge, tools, and techniques used to transform inputs into outputs; changes help companies provide better products; companies should use the new to improve their products and services

question

sociocultural

answer

includes demographic characteristics, general behavior, attitudes and beliefs of people in a particular society; changes in demographic characteristics affect how companies staff their businesses; changes in behavior, attitudes, and belief affect the demand for a business's products and services

question

political/ legal

answer

legislation, regulation, and court decisions, and court decisions that govern and regulate business behavior; managers must be aware of laws, regulations, and potential lawsuits that could affect their business

question

specific environment

answer

customers, competitors, suppliers, industry regulation, advocacy group

question

customers

answer

people who purchase products and services

question

competitors

answer

companies in the same industry that sell similar products/services

question

suppliers

answer

companies that provide material, human, financial, and informational resources to other companies

question

industry regulation

answer

regulations and rules that govern the business practices and procedures

question

advocacy group

answer

concerned citizens, band together to try to influence the business practices

question

companies can be prosecuted and punished for their unethical behavior cover offenses defined by federal law encourage companies to take proactive steps that will discourage white collar crime give companies an incentive to cooperate and disclose illegal activities to federal authories

answer

1991 US sentencing commission

question

shareholder model and stakeholder model

answer

2 models of social responsibility

question

shareholder model

answer

organization's overriding goal should be profit maximization for the benefit of shareholders

question

stakeholder model

answer

managements most important responsibility is long term survival

question

reactive strategy, defensive strategy, accomodative strategy, proactive strategy

answer

4 strategies for responding to social responsibility

question

reactive strategy (cars scenario)

answer

company does less than expected by society

question

defensive strategy

answer

company admits responsibility for a problem but does the least required to meet societal expectations

question

accomodative strategy

answer

company accepts responsibility for a problem and does all that society expects to solve the problem

question

proactive strategy

answer

company anticipates a problem before if occurs and does more than society's expectations

question

employees put forth greater effort when following a plan leads to persistence provides direction encourages the development of task strategies works for companies and individuals

answer

benefits of planning

question

impedes change and prevents needed adaptation creates a false sense of certainty detachment of planners

answer

pitfalls of planning

question

-set goals -development commitment -develop effective action plans (who, what, when, how) -track progress toward goal acheivement -maintain flexibility -revise existing plan or begin processing a new one

answer

steps for effective planning

question

-specific -measurable -attainable -realistic -timely

answer

guidelines for good goal making

question

competitive advantage

answer

achieved by using resources to provide greater value for customers than competitors can- other companies cannot duplicate what value you are providing

question

- valuable resource: improves company's efficient and effectiveness - rare resources: not controlled or possessed by many competing firms - imperfectely imitable resource: impossible or extremely difficult to duplicate - non-substitutable resource: produces value and has no equivalent substitutes

answer

what makes competitive advantage sustainable?

question

portfolio strategy

answer

minimizes risk by diversifying investment among various businesses or product lines

question

Porter's 5 Industry Forces

answer

Character of the rivalry, threat of new entrants, threat of substitute products or services, bargaining power of suppliers, bargaining power of buyers

question

character of the rivalry

answer

measure of the intensity of competitive behavior between companies in an industry

question

threat of new entrants

answer

the measure of the degree to which barriers to entry make it easy or difficult for new companies to get started in an industry

question

threat of substitute products or services

answer

a measure of the ease with which customers can find substitutes for an industry's products or services

question

bargaining power of suppliers

answer

a measure of the influence that suppliers of parts, materials, and services to firms in an industry have on the prices of these inputs

question

bargaining power of buyers

answer

a measure of the influence that customers have on a firm's price

question

defenders, prospectors, analyzers, reactors

answer

4 types of adaptive strategy

question

defenders

answer

seek moderate, steady growth by offering a limited range of products and services to a well-defined set of customers

question

prospectors

answer

seek fast growth by 1. searching for new market opportunities 2. encouraging risk taking 3. being the first to bring innovative new products to market

question

analyzers (blend of defender and prospector strategies)

answer

seek moderate, steady growth and limited opportunities for fast growth

question

reactors (DO NOT follow a consistent adaptive strategy)

answer

react to changes in the external environment after they occur

question

operations, systems, human relations, information, contingency

answer

types of management

question

operation management

answer

1. Eli Whitney- private gun contractor: introduced the concept of manufacturing using standardized, interchangeable parts 2. Gaspard Monge- explained techniques for drawing three dimensional objects on paper 3. Oldsmobile motor work- invented just-in-time inventory systems

question

human relations management

answer

1. Mary Parker Follett-integrative conflict resolution 2. Elton Mayo-played a significant role in Hawthorne study 3. Chester Barnard-proposed a comprehensive theory of cooperation in formal organizations

question

information management

answer

1. Paper and printing press revolutionized the business use of information 2. Typewriters and personal computers enabled easier and faster production of business correspondence 3. Telegraph, telephone and internet increased access to timely information

question

systems management

answer

1. set of interrelated elements of parts that function as a whole (subsystems are smaller systems that operate within the context of a larger one) 2. Synergy: occurs when subsystems can produce more than they can working apart 3. Open system: sustain themselves only by interacting with their environments 4. Closed system: sustain themselves without interacting with their environments

question

contingency management

answer

1. Holds that there are no universal management theories 2. Effective management theory depends on the kinds of problems that managers are facing at a particular time and place

question

system

answer

set of interrelated elements of parts that function as a whole (subsystems are smaller systems that operate within the context of a larger one)

question

synergy

answer

occurs when subsystems can produce more than they can working apart

question

open system

answer

sustain themselves only by interacting with their environments

question

closed system

answer

sustain themselves without interacting with their environments

question

Integrative conflict resolution

answer

approach to deal with conflict in which both parties indicate their preferences—find an alternative that meets the needs of both parties

question

domination

answer

an approach to dealing with conflict in which one party satisfies its desires and objectives at the expense of the other party's desires and objectives

question

compromise

answer

an approach to dealing with conflict in which both parties give up some of what they want in order to reach agreement on a plan to reduce or settle the conflict

question

adaptability, involvement, clear mission and consistency Cultures based on above factors help companies achieve: higher sales growth, return on assets, profits, quality, and employee satisfaction

answer

Business mission organization and culture Factors that affect successful cultures

question

The ethical intensity of the decision, the moral development of the manager, and the ethical principles used to solve the problem

answer

methods to test for ethics

question

Managers can encourage more ethical decision making in their organizations by 1. Carefully selecting and hiring ethical employees 2. Establishing a specific code of ethics 3. Training employees to make ethical decisions 4. Creating an ethical climate

answer

Management's involvement in ethics

question

stakeholders

answer

Persons or groups with legitimate interest in a company

question

primary stakeholders

answer

groups on which the organization depends for its long term survival; they include shareholders, employees, customers, suppliers, governments and local communities. Needs of primary take precedence to secondary.

question

secondary stakeholders

answer

media and special interest groups can influence or be influenced by the company. They do not engage in regular transactions with the company and are not critical to its long term survival.

question

Top to Bottom 1. Top managers=vision and mission, strategic plans 2. Middle managers=tactical plans and management by objectives 3. First level managers= operational plans, standing plans, single use plans

answer

different approaches to planning

question

STRATEGIC plans: overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years TACTICAL plans: plans created and implemented by middle managers that direct behavior. efforts. and attention over the next six months to two years OPERATIONAL plans: day to day plans, developed and implemented by lower level managers, for producing or delivering the organization's products and services over a 30 day to 6 month period SINGLE USE plans: plans that cover unique one time events STANDING plans: plans used repeatedly to handle frequently recurring events

answer

different types of planning

question

STRATEGIC PLAN

answer

overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years

question

TACTICAL PLAN

answer

plans created and implemented by middle managers that direct behavior. efforts. and attention over the next six months to two years

question

OPERATIONAL PLAN

answer

day to day plans, developed and implemented by lower level managers, for producing or delivering the organization's products and services over a 30 day to 6 month period

question

SINGLE USE PLAN

answer

plans that cover unique one time events

question

STANDING PLAN

answer

plans used repeatedly to handle frequently recurring events

question

A scientific investigation in detail of each piece of work

answer

Which of the following is Gantt's approach to training??

question

managers

answer

According to bureaucratic management, _____ should supervise the organization.?

question

By ?having a place for everyone and having everyone in his or her place

answer

According to Henri Fayol's fourteen principles of management, in which of the following ways can order be obtained in an organization

question

General and specific environments

answer

Which of the following are the two types of complex environments in which organizations operate?

question

Scientific management

answer

_____ focuses on the psychological and social aspects of work

question

false

answer

A systems approach to management encourages managers to view each division as a separate, vital entity. T/F

question

organizing

answer

According to Henri Fayol, _____ is deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom.

question

time and motion studies

answer

Which of the following management processes is used to determine how workers can perform their tasks more efficiently?

question

The first technologies to truly revolutionize the business use of information were paper and the printing press.

answer

Which of the following statements about information management is true?

question

in this zone, managerial requests are automatically accepted.

answer

According to Barnard, which of the following statements is true about a zone of indifference?

question

false

answer

Mary Parker Follett believed that managers could best deal with conflict through compromise. T/F

question

rate buster

answer

Daniel works at an electrical equipment manufacturing plant. He manages to produce eight units of equipment per day while his coworkers usually manage to produce only five per day. In this context, Daniel is the _____ among his coworkers.

question

Cold calling

answer

Which of the following is NOT an example of a commonly used operations management tool?

question

integration

answer

According to Mary Parker Follett, _____ involves invention, and the clever thing is to recognize this, and not to let one's thinking stay within the boundaries of two alternatives which are mutually exclusive.

question

Closed systems

answer

Which of the following types of systems function without interacting with their environment?

question

T

answer

According to webers bureaucratic management people should leave by virtue of their rational legal authority t/f

question

Use group dynamics to ensure organizational goals are met

answer

Which of the following is not part of the principles of scientific management?

question

F

answer

According to Fayol's 14 principles of management is espirit de corps is the source of major organizational conflict TF

question

Managers need to spend more time analyzing problems

answer

Which of the following is a practical implication of the contingency approach?

question

Renumeration

answer

According to Henry Fayol's 14 principles of management _______ requires that compensation should be fair and satisfactory to both the employees in the organization

question

Elton mayo

answer

Which of the following management theorists provided managers with a better understanding of the affect Group social interactions and employee satisfaction have on individual and group performance?

question

False

answer

The term behavioral multiplication refers to the process of having managers and employees perform new behaviors that are central to and symbolic of the new organizational culture that a company wants to create. T/F

question

Product boycotts

answer

An advocacy group for ethical treatment of animals has been protesting against a cosmetic company as there were reports about the company being involved in animal testing. The group has been persuading customers to stop buying cosmetics from the company. Which of the following advocacy group tactics is illustrated in the scenario?

question

business confidence indices that show managers level ocf confidence about future business growth is what managers prefer they can also use Organization for Economic Cooperation and development but it has been proven to be inaccurate

answer

Briefly identify the two predictors of future economic activity that are available to managers for decision making. Specify which one managers typically prefer.

question

It is most likely to be high when environmental change is extensive.

answer

Which of the following statements is true about environmental uncertainty?

question

False

answer

Environmental complexity refers to the degree of change in the external factors that affect organizations. t/f

question

media advocacy

answer

A _____ approach is an advocacy group tactic that typically involves framing the group's concerns as public issues; exposing questionable, exploitative, or unethical practices; and creating controversy that is likely to receive extensive news coverage.

question

It is most likely to be low when environmental complexity is at a low level.

answer

Which of the following statements about environmental uncertainty is true?

question

Competitive behavior

answer

_____ refers to a transaction in which one party in the relationship benefits at the expense of the other.

question

Proactive monitoring

answer

?_____refers to identifying and addressing customer needs, trends, and issues before they occur.

question

false

answer

In contrast to the general segment of the external environment that directly influences an organization, changes in the specific segment of an organization's external environment indirectly affect the way a company conducts its business. T/F

question

Technology trends

answer

Which of the following is a part of the general environment of an organization?

question

organizational heroes

answer

By definition, _____ are people admired for their qualities and achievements within the organization.

question

false

answer

The general environment is unique to each firm's industry and directly affects the way it conducts day-to-day business. T/F

question

industry regulation

answer

____ refers to the protocols and guidelines that govern the business practices and procedures of specific businesses, and professions.

question

organizational stories and organizational heroes

answer

A high school football team develops a sense of history for its current players by raising banners showing its success - five championships - and the great players from the past who went on to play in international games in its stadium and locker room. What tactics for maintaining organizational culture is the high school football team using?

question

Its regular customers

answer

Which of the following is a component of the specific environment that would directly influence a restaurant's day-to-day operation?

question

true

answer

Advocacy groups cannot directly regulate organization practices. t/f

question

consistent organizational

answer

_____ culture refers to a company culture in which the company actively defines and teaches organizational values, beliefs, and attitudes.

question

true

answer

Public communications, media advocacy, and product boycotts are techniques used by advocacy groups to influence companies. t/f

question

false

answer

Managers often prefer economic statistics to business confidence indices as tools for managerial decision making because of their inherently greater accuracy. t/f

question

sociocultural trends

answer

Which of the following is a part of the general environment of organizations?

question

political/legal

answer

A court ruling regarding the unfair firing of employees is a development in the _____ component of the general environment.

question

selection

answer

?_____ is the process of gathering information about job applicants to decide who should be offered a job.

question

true

answer

A primary source of organizational culture is the company founder. t/f

question

they can affect public perceptions and opinions

answer

Secondary stakeholders are important to a company because _____.

question

ethical

answer

A consumer advocacy group is critical of ClothesRoom, an online clothing platform that was found to declare a lower price for certain customers while quoting a higher price for others. Moreover, the platform promised a quick one-day delivery for an additional $5. It was later found that the regular delivery service cost less and delivered in roughly the same time frame. The consumer advocacy group wants ClothesRoom to take _____ responsibility for its actions and do what is right.

question

Examining the loss incurred by the victims

answer

According to the U.S. Sentencing Commission Guidelines for Organizations, which of the following is a method used to determine the level of an offense?

question

business magazines that run ads for the training video

answer

Omega, a business training company, is currently marketing a 30-minute training video designed to teach companies how to deal with and prevent damaging gossip. Which of the following is an example of a secondary stakeholder group for Omega?

question

postconventional level

answer

People at the _____ of moral development use internalized ethical principles to solve ethical dilemmas.

question

economic

answer

A pharmaceutical company recently patented a medicine that can cure jaundice in half the time an average person takes to recover. However, the company is selling the medicine at a higher price. It is focusing on its _____ responsibility.

question

The top managers behaving ethically

answer

Which of the following is an important step in establishing an ethical climate in an organization?

question

social responsibility

answer

In an attempt to spread awareness about climate change and global warming, Sparkle Fruit Juice decided to conduct awareness programs in its community. This move is an example of _____.

question

Because of the lack of company action on their complaints

answer

Why is it often difficult for an employee to assume the role of whistleblower?

question

trade associations

answer

Who among the following are the secondary stakeholders of an organization?

question

accommodative

answer

A company implementing a(n) ____ strategy would choose to accept responsibility for a problem and do all that society expects to solve problems.

question

the preconventional level, the conventional level, and the postconventional level

answer

The three stages of moral development identified by Kohlberg are ____.

question

primary and secondary

answer

The two general categories of stakeholders are _____ stakeholders.

question

F

answer

According to the stakeholder model of social responsibility, no stakeholder groups are more or less important than any other. t/f

question

True

answer

The concept of magnitude of consequences is the total harm or benefit derived from an ethical decision.

question

proactive

answer

Zett Technologies is a company that primarily focuses on enhancing the smartphone experience. It has recently developed a new operating system that is radically different from its previous one. Keeping this in mind, smartphone users are allowed to download a 'trial pack' to see if they found any problems or liked some changes made. The company is using a _____ approach to social responsibility.

question

stakeholder

answer

According to the _____ model, management's most important responsibility is long-term survival.

question

discretionary

answer

Teeny Toys, a chain of toy stores, has decided to donate free toys to orphanages across the country. The company is aiming at fulfilling its _____ responsibilities.

question

Principle of utilitarian benefits

answer

StaticX Inc. was thinking about discontinuing the health and fitness programs offered to its employees. This was because the company wanted to cut its costs. However, the company dropped the decision because most of its employees were benefiting from the programs and discontinuing them would have very adverse effects on the employees. Which principle best describes the decision made by StaticX Inc.?

question

U.S. Sentencing Commission Guidelines

answer

The _____ determined that companies can be prosecuted and punished for the illegal or unethical actions of employees even if management didn't know about the unethical behavior.

question

select and hire ethical employees

answer

Managers can use integrity tests to _____.

question

conventional level

answer

According to Kohlberg's model of moral development, people at the _____ make decisions that conform to societal expectations.

question

When people believe their work environment is ethical, they are six times more likely to stay with that company.

answer

Which of the following statements about ethics is true?

question

The time, money, and attention diverted to social causes undermine market efficiency.

answer

In the context of corporate social responsibility, which of the following statements would Milton Friedman agree to?

question

Assign a devil's advocate to criticize and question a solution.

answer

Which of the following is the final step in establishing a devil's advocacy program??

question

Gathering and providing performance feedback

answer

Which of the following is an accepted method for tracking progress toward goal achievement?

question

true

answer

For planning to be effective, workers need a specific, challenging goal as well as regular feedback to track their progress. t/f

question

Lower-level managers

answer

Who among the following is responsible for developing operational plans?

question

standing plans

answer

A laptop manufacturer has created a set of methods to deal with specific technical issues raised by customers. These methods are _____.

question

Operational

answer

_____ plans are the day-to-day plans for producing or delivering the organization's products and services.

question

encouraging workers' participation in goal setting

answer

The most popular approach to increasing goal commitment is ____.

question

Generate a potential solution.

answer

Which of the following is the first step ?in establishing a devil's advocacy program?

question

Develop commitment toward the goal.

answer

The manager of a car manufacturing company in the U.S. wants to set up factories in three? other countries by the end of the year. After he has set this goal, which of the following is the next step he should take in order to achieve this goal?

question

strategic objective

answer

The _____ is a more specific goal that unifies company-wide efforts, stretches and challenges the organization, and possesses a finish line and a time frame.

question

Satisficing

answer

____ occurs when managers choose an alternative that is good enough, rather than the best possible alternative.

question

problem

answer

A ____ exists when there is a gap between a desired state (what managers want) and an existing state (the situation that the managers are facing).

question

strategic plans

answer

Top management is responsible for developing ____.

question

Procedures

answer

____ are standing plans that indicate the specific steps that should be taken in response to a particular event.

question

Evaluation of ideas is encouraged.

answer

Which of the following is NOT one of the rules for effective brainstorming?

question

A potential pitfall of planning is the detachment of planners.

answer

Which of the following is a drawback of planning?

question

proximal goal

answer

The manager of a packaging and shipping company has set a short-term goal of increasing the customer base by 5% in the next two months. ?In this context, the manager has set a _____.

question

False

answer

A strategic objective is a statement of a company's purpose or reason for existing.t/f

question

true

answer

The three kinds of standing plans are policies, procedures, and rules and regulations. t/f

question

A single-use plan

answer

What type of planning would be used to create the festivities necessary to celebrate the 100-year anniversary of a furniture manufacturing company?

question

organizational mission

answer

A(n) _____ is a brief, two-sentence statement of a company's purpose for existing.?

question

defender

answer

WindWings is a company that manufactures and markets flutes, a product with a steady demand rate. It is so successful at what it does that the company controls 85 percent of the world's flute industry. In terms of the adaptive strategies, WindWings would most likely be categorized as a(n) _____.

question

True

answer

Companies often choose a stability strategy when their external environment doesn't change much or after they have struggled with periods of explosive growth. t/f

question

Strategic dissonance

answer

Gemini Inc. decided to decrease its product prices to respond to its competitors. To achieve this, the company needed to lower its costs so as to maintain profitability. The managers at Gemini, however, have been buying expensive raw materials and hiring many employees. Which of the following is most likely to be happening in Gemini?

question

corporate-level strategy

answer

The term _____ refers to the overall organizational strategy that addresses the question "What business or businesses are we in or should we be in?"

question

True

answer

The three steps of the strategy-making process are (1) assess the need for strategic change, (2) conduct a situational analysis, and (3) choose the strategic alternatives. t/f

question

false

answer

When companies are performing above or better than their strategic reference points, top management is more likely to choose a daring, risk-taking strategy.t.f

question

Portfolio

answer

_____ strategy is a corporate-level strategy that minimizes risk by diversifying investment among various businesses or product lines.

question

the assessment of the need for strategic change.

answer

The strategy-making process begins with:

question

situational analysis

answer

A _____ is an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment.

question

retrenchment

answer

The purpose of a _____ strategy is to turn around very poor company performance by shrinking the size or scope of the business.

question

False

answer

Bargaining power of buyers tends to be higher when a company sells a popular product to multiple buyers than when a company is dependent on just a few high-volume buyers. t/f

question

low resource similarity

answer

Under conditions of _____, a competitive attack by a rival is more likely to produce sustained competitive advantage.

question

Reactors

answer

_____ are companies that do not follow a consistent adaptive strategy but instead respond to changes in the external environment after they occur.

question

related diversification

answer

The research on diversification in portfolio management indicates that the best approach is probably _____.

question

False

answer

Reactors follow the consistent strategy of anticipating and reacting to potential external opportunities and threats prior to their occurrence. t/f

question

focus

answer

MCRS Toys manufactures learning toys and games exclusively for children in the age group of one to six years. The company is using a(n) _____ strategy.

question

recovery

answer

The second step in a retrenchment strategy is _____.

question

distinctive competence

answer

SpokedWheels Inc. introduced a specialized mountain bike to the market. Two-thirds of its profits come from the sale of mountain bikes. It is recognized worldwide for its ability to design and produce superior mountain bikes that are tough, durable, and reliable. This ability is the company's _____.

question

unrelated diversification

answer

Samantha's, a chain of coffeehouses, also markets a line of compilation CDs and other non-coffee items. The making and marketing of the CDs and other non-coffee products would be an example of _____.

question

related diversification

answer

Wisher Technologies became a large software development company through a merger with Ringus Tech., a growing software solutions firm. Since both the companies had similar core capabilities, this would be classified as an example of _____.

question

Strategic reference points

answer

_____ are the targets that managers use to measure whether their firm has developed the core competencies that it needs to achieve a sustainable competitive advantage.

question

Competitive inertia

answer

_____ is a discrepancy between a company's intended strategy and the strategic actions managers take when actually implementing that strategy.

question

Diversification

answer

?_____ is a strategy for reducing risk by buying a variety of items so that the failure of one stock or one business does not doom the entire portfolio.

question

Conceptual skills

answer

Which skills increase in their importance to success as managers' rise through the managerial ranks

question

effectiveness

answer

Managers must strive for _____, which is accomplishing tasks that help fulfill organizational objectives such as customer service and satisfaction.

question

implement the changes generated by top managers.

answer

Middle managers will most likely have to:

question

The top mistake made by derailers was that they were insensitive to others.

answer

There have been several studies of managers who fail (derailers) and managers who succeed in climbing the organizational hierarchy (arrivers). Which of the following statements describes one of the facts learned from these studies?

question

Establishing a positive organizational culture that encourages employees to be passionate about their clients

answer

Which of these functions is exclusive to a top manager?

question

false

answer

First-line managers are responsible for setting objectives consistent with organizational goals and planning and implementing strategies for achieving these objectives. t/f

question

true

answer

There are four decisional sub-roles: entrepreneur, disturbance handler, resource allocator, and negotiator. t/f

question

effectiveness

answer

Venus Stores has installed more billing counters in its stores to reduce waiting time for customers. This will help the store improve its _____.

question

Middle management

answer

_____ monitors and manages the performance of the subunits and individual managers who report to them.

question

Leading

answer

As the human resources manager at Hayden Engineering and Manufacturing Corp, Kim had to find effective ways to reward high performing employees and boost their morale during an economic downturn. Which management function did Kim have to engage in?

question

derailer

answer

As the shift supervisor at a car wash center, Jacob is bossy, arrogant, and insensitive to the needs of his subordinates. He is unable to delegate any tasks to the other employees. He has the characteristics of a(n):

question

middle manager

answer

Typical responsibilities of _____ include coordinating and linking groups, departments, and divisions within a company.

question

Negotiator

answer

According to Mintzberg, which role would a manager assume if she were trying to convince union members to accept a 25-cent-per-hour reduction in pay in order to keep the manufacturing plant open?

question

encourage, monitor, and reward the performances of their employees

answer

First-line managers will most likely have to:

question

technical

answer

Philip works at a graphics designing firm. He has good knowledge about designing and can create graphics as per the clients' requirements. Philip has _____ skills.

question

management.

answer

When Ruth was hired to be the second-in-command at Graham Mailing Services, she was told that her role involved dealing with employees to make sure that they got mailing done to customers' specifications. She was supposed supervise the work of her employees and make sure that they did their job well. Ruth's job was in:

question

Employment security

answer

_____ is the ultimate form of commitment companies can make to their workers.

question

disturbance handlers.

answer

Luvine Bodyspray recently released a controversial television advertisement that sparked a furor from several customers across the country. In order to control the situation, managers needed to spend a great deal of time in the role of:

MGMT 1ST EXAM – Flashcards

Unlock all answers in this set

Haven't found what you were looking for?

Search for samples, answers to your questions and flashcards