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Management
Q:
Policies, rules, and standard operating procedures (SOPs) are all types of _____ plans.
A. single-use
B. functional
C. rolling
D. standing
E. scenario
Q:
A written set of instructions which describes the series of actions that a manager should take in a specific situation is known as a:
A. policy.
B. standard operating procedure.
C. heuristic.
D. rolling plan.
E. rule.
Q:
A standing plan that acts as a general guide to action that applies to the employees of an organization is called a _____.
A. belief
B. rule
C. policy
D. standard operating procedure
E. scenario
Q:
_____ are used in situations in which programmed decision making is appropriate.
A. Single-use plans
B. Functional plans
C. Rolling plans
D. Scenario plans
E. Standing plans
Q:
Plans that are developed to handle nonprogrammed decision making in unusual or one-of-a-kind situations are called _____.
A. standing plans
B. single-use plans
C. general plans
D. global plans
E. rolling plans
Q:
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?
A. standing plan
B. long-term plan
C. rolling plan
D. contingency plan
E. general plan
Q:
Because of the hostile external environment, AKY Consulting treats its multiyear corporate-level plan as a _____ plan in order to maintain flexibility without losing sight of the need to plan for the long term.
A. fixed
B. general
C. standing
D. rolling
E. business
Q:
Typically ______-level goals and strategies require intermediate- and short-term plans.
A. functional
B. business
C. divisional
D. corporate
E. global
Q:
The duration over which a plan is intended to be applied or endured is called _____.
A. an event compass
B. goal duration
C. plan endurance
D. target visibility
E. a time horizon
Q:
A functional-level plan states the goals that the managers of each function will pursue to help their division attain its ______ goals, which, in turn, will allow the entire company to achieve its ______ goals.
A. departmental-level; functional
B. business-level; department
C. divisional-level; divisional
D. business-level; corporate
E. functional-level; corporate
Q:
_____ is a plan of action to improve the ability of each of an organizations functions to perform its task-specific activities in ways that add value to an organizations goods and services.
A. Business-level strategy
B. Divisional-level strategy
C. Corporate-level strategy
D. Departmental-level strategy
E. Top-level strategy
Q:
The SUV division of a major automobile corporation decides to release a new model a month ahead of its stated release and notifies all the departments associated with the division. The departmental managers must alter their _____ to accommodate the earlier release date.
A. functional-level plan
B. business-level plan
C. divisional-level plan
D. corporate-level plan
E. strategic-level plan
Q:
A(n) _____ strategy indicates how a division intends to compete against its rivals in an industry.
A. corporate-level
B. business-level
C. functional-level
D. departmental-level
E. international-level
Q:
Divisional managers decisions pertaining to divisions long-term goals, overall strategy, and structure is called an organization's _____ plan.
A. business-level
B. corporate-level
C. functional-level
D. departmental-level
E. global-level
Q:
There has been a rapid increase in the percentage of the population of a third-world nation switching to cellular technology in recent years. A major multinational telecommunication services company decides to take advantage of this change and plans to set up an industry in the country with the intention of dominating the country's telecommunication market. This is an example of a _____.
A. divisional-level strategy
B. departmental-level strategy
C. functional-level strategy
D. corporate-level strategy
E. business-level strategy
Q:
Top managements decisions pertaining to the organizations mission, overall strategy, and structure constitute an organization's _____.
A. corporate-level plan
B. divisional-level plan
C. functional-level plan
D. business-level plan
E. departmental-level plan
Q:
In large organizations the functional level of management is also known as the _____ of management.
A. business level
B. corporate level
C. divisional level
D. departmental level
E. top level
Q:
The managers of an organization develop a single, well-researched, and effective plan to complete a set of tasks. Which of the following qualities, according to Henry Fayol, does this plan have?
A. Unity
B. Flexibility
C. Continuity
D. Accuracy
E. Synergy
Q:
According to Henry Fayol, _____ means that managers need to make every attempt to collect and use all available information in the organization's planning process.
A. unity
B. flexibility
C. continuity
D. accuracy
E. synergy
Q:
According to Henry Fayol, an effective plan should have four qualities, namely, unity, continuity, accuracy, and _____.
A. sustainability
B. flexibility
C. accountability
D. consistency
E. synergy
Q:
The first step in planning for an organization is:
A. procuring raw materials and human resources.
B. analyzing situations and formulating strategies.
C. expanding the organization's business globally.
D. determining the organization's missions and goals.
E. allocating resources and responsibilities to achieve strategies.
Q:
A(n) _____ broadly defines an organization's purposewhat it is seeking to achieve from its activitiesidentifies what is unique or important about its products to its employees and customers, and also distinguishes or differentiates the organization in some ways from its competitors.
A. business plan
B. mission statement
C. SWOT analysis
D. general advertisement
E. strategic plan
Q:
A(n) _____ is a cluster of decisions about what goals to pursue, what actions to take, and how to use resources to achieve goals.
A. strategy
B. objective
C. motto
D. allocation
E. accomplishment
Q:
Holding specific individuals or groups responsible for the attainment of corporate, divisional, and functional goals is the last step in implementing strategy.
A. True
B. False
Q:
The level of foreign involvement and investment and degree of risk is least in wholly owned foreign subsidiaries.
A. True
B. False
Q:
Synergy is obtained when the value created by two divisions operated separately and independently is greater than the value that would be created by two divisions cooperating.
A. True
B. False
Q:
Entering a new industry or buying a company in a new industry that is not related in any way to an organizations current businesses or industries is called unrelated diversification.
A. True
B. False
Q:
A beverage manufacturer enters the snack food business with the purchase of a popular potato chip company. This is an example of diversification.
A. True
B. False
Q:
When considering vertical integration as a strategy to add value, managers must be careful because sometimes it may reduce a company's ability to create value when the environment changes.
A. True
B. False
Q:
A winery decides to manufacture its own bottles instead of purchasing them from a bottle manufacturing company to reduce costs. The winery is employing a forward vertical integration strategy.
A. True
B. False
Q:
A computer operating system software manufacturer invests its profits in creating newer versions of its operating system software to make best use of the continuous changes in computer hardware. This is called diversification.
A. True
B. False
Q:
Focused low-cost strategy serves a major segment of the overall market and tries to be the lowest-cost organization in the entire market.
A. True
B. False
Q:
It is impossible for an organization to have both low-cost and differentiated products.
A. True
B. False
Q:
Though a company's netbook prices are higher than other netbooks with the same configuration, the company offers features that are exclusive only to its netbooks. The company is following a differentiation strategy.
A. True
B. False
Q:
A brand of cereal attracts customers by offering the lowest prices among other brands of cereals. The company uses a differentiation strategy in this situation.
A. True
B. False
Q:
Permanent, ongoing, intense competition brought about in an industry by advancing technology or changing customer tastes is called hypocompetition.
A. True
B. False
Q:
The possibility of expanding into a global market is a potential weakness of an organization.
A. True
B. False
Q:
SWOT analysis is a planning exercise in which managers identify external environmental strengths and weaknesses.
A. True
B. False
Q:
When establishing goals, setting a completion time acts as a demotivator.
A. True
B. False
Q:
The ability of the CEO and top managers to convey to their subordinates a compelling vision of what they want the organization to achieve is called strategic leadership.
A. True
B. False
Q:
The first step in defining an organization's mission is to define its business.
A. True
B. False
Q:
Scenario planning is also known as contingency planning.
A. True
B. False
Q:
A specific action plan created to complete various aspects of a program is called a project.
A. True
B. False
Q:
Programs and projects are examples of standing plans.
A. True
B. False
Q:
Single-use plans are intended to be used primarily in nonprogrammed decision making in unusual situations.
A. True
B. False
Q:
A written set of instructions that describes the series of actions that a manager should take in a specific situation is called the standing operating procedure (SOP) of an organization.
A. True
B. False
Q:
Standing plans are useful in situations that are unusual or situations that are one-of-a-kind.
A. True
B. False
Q:
A business plan that is updated every year, depending on the changes in the organization and in the external environment that have taken place in the previous year, is known as a rolling plan.
A. True
B. False
Q:
Corporate-, business-, and functional-level plans can all be applied over the same time horizon.
A. True
B. False
Q:
The divisional head of an organization decides to set up the division's technical support center in another country in order to lower costs. This is an example of a functional-level strategy.
A. True
B. False
Q:
Functional goals and strategies should be independent of divisional and corporate goals and strategies.
A. True
B. False
Q:
A business-level plan details the short-term divisional goals that will allow the division to meet corporate goals.
A. True
B. False
Q:
In a typical organization, corporate-level planning is the primary responsibility of divisional heads.
A. True
B. False
Q:
According to Henri Fayol, unity means that managers need to make every attempt to collect and use all available information in the planning process.
A. True
B. False
Q:
According to Henri Fayol, continuity means that planning is an ongoing process in which managers build and refine previous plans and continually modify plans at all levels so they fit together into one broad framework.
A. True
B. False
Q:
Planning is important for an organization since a plan can be used as a device for controlling managers within an organization.
A. True
B. False
Q:
The second and intermediate step in an organization's planning process, which is also called strategy formulation, is to analyze the current situation and develop a strategy.
A. True
B. False
Q:
The mission statements of organizations in the same market will typically be the same.
A. True
B. False
Q:
The final step in the planning process of an organization is to determine the organization's mission and goals.
A. True
B. False
Q:
Implementing is a process managers use to identify and select appropriate goals and courses of action for an organization.
A. True
B. False
Q:
The set of decisions that managers make to assist the organization in attaining its goals is called the strategy of the organization.
A. True
B. False
Q:
Discuss March and Simon's administrative model of decision making and explain the three concepts on which the model is based.
Q:
Discuss the premise of the classical model of decision making.
Q:
Compare and contrast programmed and nonprogrammed decision making in organizations.
Q:
Which of the following is a characteristic of an entrepreneur?
A. Not open to new experiences
B. Have an external locus of control
C. Have a low level of self esteem
D. Have a high need for achievement
E. Have a low need for power
Q:
Intrapreneurial managers who leave their current organizations because of a lack of opportunity and start their own companies are known as _____.
A. skunkworks
B. social entrepreneurs
C. entrepreneurs
D. product champions
E. devil's advocates
Q:
_____ is the term given to employees who engage in entrepreneurial activity and who are an important source of organizational creativity.
A. Entrepreneurs
B. Intrapreneurs
C. Social entrepreneurs
D. Devil's advocates
E. Middle managers
Q:
_____ are individuals who pursue causes such as reducing poverty, increasing literacy, protecting the natural environment, or reducing substance abuse.
A. Social entrepreneurs
B. Intrapreneurs
C. Product champions
D. Skunkwork specialists
E. Devil's advocates
Q:
Individuals who notice opportunities and decide how to mobilize the resources necessary to produce new and improved goods and services are called _____.
A. entrepreneurs
B. managers
C. supervisors
D. product champions
E. intuitors
Q:
_____ refers to the loss of productivity in brainstorming sessions due to the unstructured nature of brainstorming.
A. Production blocking
B. Satisficing
C. Nonprogrammed decision making
D. Systematic error
E. Illusion of control
Q:
Which of the following group decision-making processes is a written approach to creative problem solving?
A. The Delphi technique
B. Dialectical inquiry
C. Brainstorming
D. Nominal group technique
E. Devil's advocacy
Q:
_____ is the decision-making method in which group members write down ideas and solutions, read their suggestions to the whole group, and discuss and then rank the alternatives.
A. Delphi technique
B. Dialectical inquiry
C. Brainstorming
D. Nominal group technique
E. Devil's advocacy
Q:
A group of managers meets face-to-face and generates and debates a wide variety of alternatives from which to make a decision. This is called:
A. the Delphi technique.
B. dialectical inquiry.
C. brainstorming.
D. a nominal group technique.
E. programmed decision making.
Q:
Which of the following is a guideline to promoting individual creativity in an organization?
A. Creativity increases when managers pressure employees to deliver creative solutions quickly.
B. Building a shared vision can curb an individual's sense of creativity.
C. Top managers should visibly reward employees who come up with creative ideas.
D. Employees must be penalized for ideas that seem outlandish.
E. Creativity can be fostered by criticizing the efforts of creative employees.
Q:
Which of the following is true of a learning organization?
A. Allowing individuals to develop a personal sense of mastery is detrimental to organizational learning.
B. Organizations need to encourage employees to develop and use complex mental models.
C. Individual learning is more important than team learning in increasing organizational learning.
D. Building a shared vision can curb an individual's sense of creativity.
E. Creativity increases when managers pressure employees to deliver creative solutions quickly.
Q:
_____ is a decision maker's ability to discover original and novel ideas that lead to feasible alternative courses of action.
A. Groupthink
B. Dialectical inquiry
C. Intuition
D. Creativity
E. The illusion of control
Q:
An organization in which managers enable subordinates to think creatively in order to maximize the potential for organizational learning is called a(n):
A. learning organization.
B. dialectical organization.
C. skunkworks.
D. intuitive organization.
E. heuristic organization.
Q:
_____ is the process through which managers seek to improve employees' desire and ability to understand and manage the organization.
A. Dialectical inquiry
B. Devil's advocacy
C. Groupthink
D. Organizational learning
E. Skunkworks
Q:
Two separate groups of managers are given a problem to solve, and then each group presents its proposed solution to top management in an attempt to determine the best course of action. This process is called:
A. devil's advocacy.
B. groupthink.
C. dialectical inquiry.
D. classical decision making.
E. organizational learning.
Q:
_____ is a critical analysis of a preferred alternative, defending unpopular or opposing alternatives for the sake of argument.
A. Dialectical inquiry
B. Devil's advocacy
C. Groupthink
D. Prior-hypothesis bias
E. Organizational learning