Anatomy and Physiology Ch. 7

Define "entrepreneurship" and discuss the impact to the U.S Economy (GDP, employment, etc.) Provide at lease 3 examples.

"The process of planning, organizing, operating and assuming the risk of a business venture" Typically entrepreneurs create small businesses which makes up 99%. It helps increase GDP by producing & selling goods to consumers. They hire at a faster rate & help lower unemployment.

Esterotia, a European country, requires red-tape-intensive licenses for all alcohol imports. In this scenario, which of the following types of trade restrictions does the country use?

A nontariff barrier

A helicopter pilot-in-command is in control of her aircraft.

Autonomy

Professor Campbell needs to recommend a biology textbook for his senior class. Only two well-known publishers, Educate and WorldTree, publish biology textbooks in the state, and both publishers are known for the clarity and extensiveness of their content. When Campbell chooses a textbook from one of the two publishers, he is making a decision in the state of ___.

Certainty

A ___ is a formal written statement of the values and principles that guide a firm's action.

Code of ethics

A manager is hired by a start-up for her demonstrated ability to think strategically and make broad-based decisions that serve the entire organization. In other words, the manager has been hired for her strong ___ skills

Conceptual

Which of the following is a determinant of a strong organizational culture?

Corporate Success

Ryan, the production manager at the Tan Shoes Company, chose the cheapest leather-cutting machine from a set of five machines from different manufacturers. Ryan was engaged in___

Decision making

An organization that pursues a(n) strategy seeks to stand out among competitors through the quality (broadly defined) of its products or services

Differentiation

Griston Systems is a networking firm headquartered in the United States. It purchases an operating facility in Thailand that subsequently becomes a wholly owned subsidiary of Griston. This is an example of___

Direct investment

Which of the following is likely a nontariff barrier to international trade?

Establishing nonstandard packaging requirements for certain products.

Helicopter pilots take periodic check rides by more experienced pilots to stay current with the procedures and rules.

Feedback

An organizational culture:

Helps members understand what the company stands for.

More than half of all new businesses do not last six years. What are four general factors that cause failure of businesses?

Inexperienced Lack of devotion Weak control systems Insufficient funds

Managers sometimes decide to do something because it feels right or they have a hunch. This is an example of using___ in decision making.

Intuition

The managerial function of leading:

Is the set of processes used to get members of an organization to work together

Which of the following is true of the quantitative management perspective?

It focuses on mathematical models and the use of computers.

Which of the following is likely to be true of an organization like Kmart where the management team changes rapidly?

It is likely to have a weak culture.

Universal perspectives:

State that each organization is unique

Remurio Inc., an African multinational company, wants to import raw materials from Infigerd, an Asian country. However, the company can import only a certain quantity of raw materials because of trade restrictions imposed by Infigerd. In this scenario, Remurio Inc. is most likely facing the barrier of___

Legal differences

A good deal of money is usually needed to start a(n) ___ business because of the investment normally required in equipment, energy, and raw materials.

Manufacturing

Culture problems can arise from:

Mergers

An organization's ____ is a statement of its fundamental unique purpose that sets a business apart from other firms of its type and identifies the scope of the business's operations in product and market terms.

Mission

In the context of SWOT analysis, which of the following would be considered as an organization's strength?

Motivated Employees

Venus Electronics INC. decided to explore markets in different countries. It has now set up a branch in Selenasia. This is an example of a(n) ___ decision.

Nonprogrammed

Groupthink:

Often leads to choosing a wrong alternative.

Decisions regarding standard organizational transactions are most likely to be___ decisions.

Programmed

Nutrimax Inc. sponsors a football championship in Oriel in August every year. The championship is organized by the Oriel Football Association (OFA) to encourage new talent, and Nutrimax bears all the expenses incurred duringthe championship. The Oriel regional manager of Nutrimax sends across a check to OFA in July of each year in order for them to prepare for the championship. The regional manager's decision about when to send the check to OFA is a(n) ____ decision

Programmed decision

A(n)___ is a control of the international trade that limits on the number or value of goods that can be traded.

Quota

Interest groups act as___ in organizations

Regulators

A nonprogrammed decision:

Requires more time and resources than programmed decisions

Johnson recently launched a new electronics store in Fremont. The store sells smartphones, laptops and mobile accessories from companies like Apple, Samsung, Sony, and Philips. The store operates in the ___ industry.

Retail

A ___ describes how specific activities are to be carried out.

Rule or regulation

In the rational decision-making model, once the alternatives have been evaluated, the next step is to___

Select the best alternative.

A retail business:

Sells products manufactured by other firms.

Edinberg Animal Hospital is a veterinary clinic. It operates in the___ industry.

Service

Helicopter pilots perform preflight and post flight checks, fly, give safety briefs, communicate with air traffic controllers and plan flights.

Skill variety

The process in which employees deliberately work at a pace slower than their capabilities is known as ____

Soldiering

A mechanistic organization has:

Specialized jobs

___ goals are set by and for an organization's top management

Strategic

___ are organizations that provide resources for other organizations.

Suppliers

Helicopter pilots complete flights and log hours of experience.

Task Identity

Helicopter pilots think what they do is important and exciting.

Task significance.

A policy is:

The most general form of a standing plan.

An argument against social responsibility in organizations is that:

There is potential for conflicts of interest.

Which of the following is true of technical Skills?

They are especially important for first-line managers.

Which of the following statements is true about entrepreneurs?

They essentially start new businesses.

Which of the following is true of entrepreneurs?

They take a personal stake in the success or failure of the business.

First line managers supervise and coordinate the activities of operating employees

True

Middle managers' group is the largest group of managers in organizations

True

Top managers manage the organization's overall goals, strategy, and operating policies

True

Which of the following is an organizational strength?

Well-established distribution channels

Keisha is the vice president of accounting, and she has to decide which computer software to purchase for her department. She has looked at all of the possible alternatives and is leaning toward the system with which she is most familiar. This is an example of___.

Bounded rationality

___ Skills enable managers to visualize the most appropriate response to a situation.

Diagnostic