AESHM 287 Midterm ISU

Oppertunities

"O" in the SWOT analysis stands for ______.

Specific

"S" in SMART Framework refers to which of these?

Strengths

"S" in the SWOT analysis stands for ______.

is accurately described by all of the above

A business plan:

True

A business-level strategy is the framework a firm uses to organize its activities, and it is developed by the firm's top managers.

Macro

A firm's ______ environment contains elements that can impact the firm but are generally beyond its direct control. These elements are characteristics of the world at large and are factors that all businesses must contend with, regardless of the industry they are in or type of business they are.

Masculinity

According to Hofstede, the degree to which a society emphasizes traditional qualities such as advancement and earnings refers to which of these?

Very centralized organizational structure

According to Hofstede, which of the following is an implication of high-power distance?

36; 16; 9

According to Mintzberg, managers averaged ____ written and _____ verbal contacts per day with most of these activities lasting less than ____ minutes.

Disturbance handle

According to Mintzberg, which of the following role is decisional?

False

According to the Company Industry Fit model, soft drink bottlers, chemical, and insurance companies would fit and align more effectively in a stable (i.e., relative unchanging), simple, and low-uncertainty (i.e., has mostly similar elements) external environment—cell 1.

True

According to the GLOBE project, countries in the Latin American cluster tend to be more collective, have high power distance, and have high uncertainty avoidance.

Market share is decreasing

According to the article, what is the current trend of American companies in China?

Richard Branson

According to the article, which CEOs mission statement indicates the importance of having fun in life?

Government Authorities

According to the article, which of the following is NOT listed as someone to talk to about a company's reputation?

Theory X

According to the article, which of the following will likely have the most negative view of employees?

NOT!!! Scientific Management Theory

According to the article, which theory built on Taylor's theory and argued that chains of command and standardization are important?

They weren't as aggressive at adapting their dishes for the Chinese consumer

According to the article, why did McDonald's have a relatively more difficult time in China?

It allowed companies to grow larger

According to the article, why was the industrial revolution important to modern management?

Simple-unstable environment

According to the environment-industry-organization fit model, Cell 3 represents which of these environments?

NOT!!!!! Cell 2

According to the environment-industry-organization fit model, certain industries—soft drink bottlers, beer distributors, food processors, and container manufacturers—would fit and align more effectively in which of these cells?

He created the double-entry booking system

According to the video from Christie's, why was Renaissance mathematician Luca Pacioli important to the history of management?

Uncertainty avoidance

According to the video, a culture that tries to minimize risk and have strong control of their future are representative of this idea.

Weighted Averages

According to the video, this helps you assign the comparable importance of each of the PESTEL components.

SWOT Analysis

According to the video, what is step 5 in a business plan?

Using computer system automated technology, consumers can buy items without waiting in line to check-out.

According to the video, what is the most interesting part about the Amazon Go business strategy?

NOT!!!! Both the External and Internal Environment

According to the video, which does PESTEL help you analyze?

Collectivism

According to the video, which of the following is the idea that you are responsible for a society as a whole?

NOT!!! Company description

According to the video, which part of the business plan explains your company's goals, objectives, timeline, and procedures?

Specialized tasks

All of the following are characteristics of an organic organizational structure EXCEPT:

NOT!!!! Engage in critical thinking

At ABC Accounting, Inc., Margo is interested in improving the quality of as well as reducing bias when making nonprogrammed decisions. Which of the following she should focus on?

False

Direct Small Business Administration (SBA) loans are made from funds set aside each year by Congress.

True

Entrepreneurs are people with vision, drive, and creativity, who are willing to take the risk of starting and managing a business to make a profit.

True

Exporting is one of the easiest ways to go international.

All of the above

Hannah Li wants to quit her job as a legal secretary and start her own small business. She knows that she will be successful if she can find the right idea. Where can Li look for ideas for her new business?

H&M regularly audits all the factories to assess their level of compliance.

How does H&M ensure that all the factories are following their code of conduct?The program provides technical training that workers need to advance at work and in life

NOT!!! Cost-leadership strategy

In the retail industry, ABC tries to add value to their products and services so they can attract customers who are willing to pay a higher price. ABC can be described as utilizing which of the following strategy?

Threat

In the video, they mentioned the idea of your colleagues trying to compete with you for the same projects or promotions. You should categorize this as which of the following?

business and wealth

International management scholars recognize that Christianity is generally supportive of _______, and so multinationals located in countries where a majority of people are Christian should expect to face an environment in which work, and accumulation of wealth are celebrated.

are accurately described by all of the above

Intrapreneurs:

equity

Jeff Arnold and Reggie Bradford created WebMD, an Internet provider of health care information. During the development of this high-growth company, Arnold and Bradford attracted a group of investors who purchased stock in their company and provided them with ______ financing.

micropreneurs

Many classic entrepreneurs are _____ who start small and plan to keep their business small.

False

Mechanistic organizational structures work best in unstable, complex, changing environments.

True

More than half of small businesses have between one and four employees.

True

Process conflict refers to conflict about the best way to do something as individuals explore various options together in order to identify superior solutions.

Non sequitur

Sam, marketing manager at ABC Products, argues that XY Products, their biggest competitor is spending more on marketing than ABC. XY have a larger share of the market. Therefore, ABC should spend more on marketing. This argument represents which of the following fallacies?

False

Strategic objectives usually identify why a firm exists.

False

Strong rivalry in an industry increases the profit potential for all firms because consumers have many firms from which to purchase products or services and can make at least part of their purchasing decisions based on prices.

False

Support activities, according to the value chain, are the actions a firm takes to directly provide a product or service to customers.

Tariffs

Tariffs are taxes that are added to the price of imported international products.

False

The Hierarchy Culture profile of an organization emphasizes creating, innovating, visioning the future, managing change, risk-taking, rule breaking, experimentation, entrepreneurship, and uncertainty..

True

The Italian Renaissance saw the reintroduction of classical knowledge and the emergence of new knowledge and learning, much of which had economic and business implications.

NOT!!!! is accurately described by all of the above

The Small Business Administration (SBA):

Small Business Administration

The _____ is an agency of the federal government that offers both managerial and financial assistance to small businesses.

False

The first step in starting your own business is the creation of a unique marketable idea.

False

The major overview of the systems theorists was that firms were a closed system, that is, a system that interacts with its environment.

True

The mission statement takes the why of a vision statement and gives a broad description of how the firm will try to make its vision a reality.

NOT!!!! mechanistic and organic

Two dimensions of environment-industry-organization fit model are:

environmental complexity and environmental change

Two dimensions of environment-industry-organization fit model are:

NOT!!!!! Planning, organizing, staffing, leading, and controlling.

What are the five basic tasks of a manager as suggested by Mr. Drucker?

Clothing should be neat, clean, and follow the company's dress code.

What is meant by "dress appropriately" at work?

The introduction of writing

What made a high level of trade and economic activity possible for the ancient Sumerians?

Domain

When an organization defines itself and its niche in an environment by the choice of what sector or field of the environment it will use its technology, products, and services to compete in and serve, it is describing its ______.

Classic

When he read Chicken Soup From the Soul, Joe Farmer was struck by how many of the stories mentioned the scent of the islands. So Farmer created bottles filled with Hawaiian air and some scented essence beads. When customers shake the bottles up and open the lids, they're transported back to paradise. While many marketing experts did not think that consumers would buy bottles of air, Farmer has earned more than half a million dollars of sale during his first year of operation. Farmer was an example of a _____ entrepreneur.

False

When satisficing, a decision maker selects the best solution.

True

Whereas in cell 4 of the Company Industry Fit model, an environment characterized by a high degree of uncertainty with complex and unstable elements, industries and firms such as computer, aerospace, airlines, and telecommunications firms would operate more effectively.

Behavioral dimension

Which dimension of cultural intelligence is based on the ability of the individual to exhibit the appropriate forms of verbal and nonverbal behaviors when interacting with people from another culture?

The program provides technical training that workers need to advance at work and in life

Which is true about the educational program offered by GAP in India?

Julie, a marketing manager at TTY Tools, continually watches for changes in the business environment and monitor business indicators such as economic indicators and business cycles.

Which of the following describe environmental scanning activity?

Societal dimension

Which of the following is NOT a dimension of cultural intelligence?

Establish compensation for performance

Which of the following is NOT an activity of strategic management process?

Cost savings, greater access to a diverse labor force not encumbered by 8-hour workdays, and less harmful effects on the environment.

Which of the following is NOT an advantage of a divisional structure?

Cross-cultural management courses

Which of the following is NOT and examples of high-rigor cross-cultural training?

Personal authority

Which of the following is NOT one of Weber's principles of the ideal bureaucracy?

Taxation

Which of the following is an element of government and political forces?

General environment

Which of the following is an inclusive concept that involves all outside factors and influences that impact the operation of a business that an organization must respond or react to in order to maintain its flow of operations?

Clan Culture

Which of the following profile of an organization focuses on relationships, team building, commitment, empowering human development, engagement, mentoring, and coaching?

Hinduism

Which of the following religion believes cows are sacred?

Evaluate the effectiveness of selected alternative

Which of the following represents the final step in the decision making process?

The Italian Renaissance

Which of the following saw the reintroduction of classical knowledge and the emergence of new knowledge and learning, much of which had economic and business implications?

First-line managers

Which of the following supervise rank-and-file employees and carry out day-to-day activities within departments?

Mission Statement

Which of these is a general description of how the firm will try to accomplish the firm's vision?

NOT!!!! Mission statement

Which of these is an expression of what a business's founders want that business to accomplish?

Motivating and communicating with employees.

Which task is also referred to as the "integrating" function of the manager?

NOT!!! Cultural paradox

Which term describes insights from an understanding of culture may not necessarily coincide with reality in that culture?

decisional; informational

While resource allocator is a type of _______ role, disseminator is a(n) ______ role.

Being late for work will give a bad impression to our colleagues.

Why should making it to work on time be one of your top priorities?

Their business strategy could potentially eliminate the check-out positions across the retail industry

Why was Amazon Go being criticized as "the next major job killer" by the New York Post?

Emotional intelligence

______ is the ability to recognize, understand, pay attention to, and manage one's own emotions and the emotions of others.

Divisional structure

________ structures are, in effect, many functional departments grouped under a division head.