Intro to business practice 2 Test 2

Medical diagnostic equipment specialist Georgiana Rutland was asked to attend a medical conference in which the attendees discussed new uses for laser technology in diagnosing certain types of cancer. Rutland exerted considerable influence over the decisions to adopt the laser technology because of her _____ power.

expert

The standards used to determine whether a group member's actions are acceptable are called group:

norms

Which of the following statements about the committee structure is true?

Committees can be slow to reach a decision.

Which of the following statements describes one the weaknesses of

Group members may pressure others to conform to decrease the possibility of disagreement.

Which of the following is NOT one of the five key types of power?

Influential

Management involves:

all of the above

As part of her marketing project, Lily Unruh is studying how Marriott operates. Since she thought it was simply a hotel chain, she was amazed to learn that its food divisions provide food for school cafeterias, airlines, hotels, and fast-food restaurants. Marriott's food divisions are departmentalized by:

customer

Pharmacie & Upjohn, a pharmaceutical company, uses a functional structure (research, development, manufacturing, and marketing) within each of its three largest major product divisions. This company is an example of a:

customer

Jeff Arnold and Reggie Bradford created WebMD, an Internet provider of health care information. Early in the development of this high-growth company, Arnold and Bradford attracted a group of investors who provided them with money needed to acquire other Internet companies with similar missions. The investment group is called:

angel investors

Self-managed work teams:

are accurately described by all of the above

A _____ is a formal written statement that describes in detail the idea for a new business and how it will be carried out.

business plan

Kathy Elliot has decided that she will start an Internet company to sell reliable used cars to customers nationwide. She has decided to use the sole proprietorship business format. Elliot's next step is to write a formal _____ before she applies for a business loan.

business plan

The original Hawthorne studies were set up to study:

lighting

According to Theory Y, workers _____ their work.

like delegation and responsibility in

According to the _____ of the New Mexico Nurses Association, the organization "is committed to advocating for all licensed nurses, promoting lifelong learning, and improving health care for all people."

mission statement

Michael Bronner made a killing in the direct marketing business as the cofounder and CEO of Bronner Slosberg Humphrey, a wildly successful direct-marketing firm. His newest venture, Upromise Inc., enlists some of America's largest corporations to help families pay for college and is extremely successful. The 40-year-old Bronner will more than likely start at least one more new company before he retires because Bonner is a(n):

multipreneur

_____ is the gap between what is and what is required

A need

_____ proposed a theory of motivation based on universal human needs.

Abraham Maslow

_____ is the process of grouping jobs together so that similar or associated tasks and activities can be coordinated.

Departmentalization

_____ financing is a form of financing consisting of funds raised through the sale of stock in a business.

Equity

are entrepreneurs who apply their creativity, vision, and risk taking within a large corporation rather than starting a company of their own. They enjoy a high degree of autonomy while receiving a regular salary and financial backing from their employer.

Intrapreneurs

____ is the process of guiding and motivating others toward the achievement of organizational goal

Leadership

_____ are entrepreneurs who start a series of companies.

Multipreneurs

Two co-workers at Nortel came up with an idea for renting software over the Internet. Nortel's top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product. The establishment of a new company and assigning the employees in the division the task of making an idea a reality requires which management function?

Organizing

_____ planning is the creation of long-range, comprehensive objectives and the development of long-term courses of action.

Strategic

Fourteen million office workers in the US have their online activities under constant surveillance, according to the Denver-based Privacy Foundation. Worldwide, it reckons the number of employees under such surveillance totals around 27 million people. According to the foundation's Workplace Surveillance Project the low cost of snooping technology is the main reason why employers are employing a _____ approach to management.

Theory X

is financing obtained from investment firms that specialize in financing small, high-growth companies and receive an ownership interest and a voice in management in return for their money.

Venture capital

_____ are groups of employees who share resources and coordinate efforts so as to help members better perform their individual duties and responsibilities. The performance of this group can be evaluated by adding up the contributions of the individual group members.

Work groups

Dewayne Gibbons of Burger King decided to introduce a new sliced chicken sandwich without consulting any of his subordinates or the franchise. Managers who use this style of decision making exhibit the _____ style of leadership

autocratic

A structure in which authority and responsibility are held by a group of workers rather than a single manager is called a _____ structure.

committee

_____ financing is a form of business financing consisting of borrowed funds that must be repaid with interest over a stated time period.

debt

Specialization refers to the:

degree to which tasks are subdivided into smaller groups

A supervisor engaged in ______ is grouping people, tasks, and resources into organizational units to facilitate the planning, leading, and control processes.

departmentalization

The management activity of organizing

determines, groups, and assigns work activities

According to Herzberg, to keep a worker satisfied or motivated, the manager should:

give recognition to employee

To be a high-performance team, a team:

is accurately described by all of these

Venture capital:

is financing obtained from investment firms that specialize in financing small, high-growth companies

The relatively consistent pattern of behavior that characterizes a leader is called his or her _____ style.

leadership

The ______ refers to the levels of management within the organization. These levels usually conform to the shape of a pyramid

managerial hierarchy

The Austrian-company Wienerberger is the world's largest brickmaker. It had to use the management function of _____ when it integrated the employees and manufacturing facilities that it gained from a merger with a brickmaking company in Great Britain.

organizing

Kohber is a Swiss-company that makes medical equipment. It recently purchased a company, which manufactures packaging for high-value drugs. Since it will run the packaging company as a separate division, it would seem that Kohber is departmentalized by:

product

One of the advantages of work group cohesiveness is:

reduced employee turnover

A group of management consultants is studying OGSI Manufacturing and its team management strategy. Once Pete Jazoni's work group was selected for special attention by the management consultants, the work group's production output nearly doubled. Jazoni's group's reaction to the special attention is an example o

the Hawthorne effect

According to _____, workers respond to attention from superiors, and they like their opinions to be valued.

the Hawthorne effect

According to expectancy theory, the probability of an individual acting a particular way depends on the strength of the individual's belief that:

the act will have a particular outcome and on whether the individual values that outcome

Who provides the start-up financing for the majority of new small businesses?

the business owner and his or her family and friends

In buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be an appropriate question to ask?

All of the above are appropriate questions to ask

Which of the following is NOT one of the four functions of management?

Budgeting

_____ involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals.

Organizing

_____ is the process of arranging the structures and relationships of human and material resources to carry out an organization's plans.

Organizing

The world's largest bank. Deutsche Bank set as its objective to make its name more recognizable in the United States. The success of its decision to sponsor a PGA golf tournament to accomplish this organizational objective will ultimately depend on which management function?

Planning

When nurses at Children's Memorial Medical Center were asked what makes a great place to work. They responded with, "Great places to work have leaders that listen to staff feedback and act upon it. At great places to work, staff value developing their job expertise, actively support teamwork, are passionate about providing quality service, and are not afraid to take risks and try innovative approaches. Mutual respect is the interpersonal chemistry that produces a collegial environment that inspires excellence at great places to work." From this information, it appears that the nurses would also appreciate a _____ approach to management.

Theory Y

Which of the following statements about Theory Z style of management is true?

Theory Z contains many elements from Japanese management

_____ is the gap between what is and what is desired, and _____ is the gap between what is and what is required.

a Want; a need

When Art Baer read that Singapore would lift its ban on chewing gum, he thought to himself, "There has to be a market there." Baer, 26, knew if he was going to move beyond the daydreaming stage, he had to move fast. After investing $20,000 of his own money into developing a product he called Impress Gum, Baer quit his job, flew to Singapore, talked to the right people in the government, lined up a manufacturer, and hired a marketing firm to promote his gum, which fights tooth decay. Baer is an example of a(n) ______ entrepreneur.

classic

A team made up of employees from about the same hierarchical level, but different functional areas of an organization is called a:

cross-functional team

After graduating from college, Joseph Tantillo decided to start a retail Web site that specializes in personalized Greek apparel. To fund his Web site, he borrowed money from his parents (who expect to be repaid with interest). In other words, he used _____ financing.

debt

Jon P. Farmer is the founder of Kolopua Hawaii LLC, a company that markets Pure Hawaiian Air. Bottles of Pure Hawaiian Air contain air that smells like the floral bouquet that greets tourists as they get off the plane in Hawaii. Retailing for about $5 apiece, the bottles are sold at gift shops in Hawaii, as well as to travel agents nationwide who give them to clients. As a(n) _____, Farmer's annual income exceeds $100,000 annually.

entrepreneur

The person who takes the risk of starting and managing a business to make a profit is called a(n):

entrepreneur

Navim Jain sold stock to investors in order to finance Sparkart, LLC, a company that markets software to track how many times music is played and shared among peers. Jain used _____ financing.

equity

In Herzberg's theory, salary is an example of a(n):

hygiene factor

One criticism of Herzberg's motivator and hygiene theory is that it:

ignores the impact of situational variables

Lachlan Stuart is employed by International Paper, a company that values his vision and creativity. To stay ahead in a very competitive industry, International Paper gives Stuart, and his division has almost complete autonomy to develop innovative and effective communications. Stuart is an example of a(n):

intrapreneur

Dean Jager is the supervisor of the volunteer staff at the Booth Western Art Museum. He makes the work assignments, determines work schedules, and makes sure the museum uses all its volunteer staff efficiently. Jager is involved in _____ planning.

operational

A common use of business plans is to:

persuade lenders and investors to finance the venture

Bart Pietz works as a paramedic. Because he has just worked a plane crash and has been 20 hours without rest, he is extremely sleepy. Pietz needs to satisfy his _____ need.

physiological

n Herzberg's model, which of the following would be an example of a motivating factor?

responsibility

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. Its primary challenge will be to convince the 2,000 employees it inherited from the government-owned facility to work more efficiently. Manila Water sought to boost employee morale by linking pay to performance. In other words, management has used its _____ power to improve employee productivity.

reward

An employee who was more worried about having a safe work environment and a financially sound pension plan than anything else would be most concerned with which of the needs in Maslow's hierarchy of needs?

safety needs

A manufacturing company in which industrial engineers have maximized efficiency by determining the best way to perform every task from tightening a bolt to operating a forklift would be illustrative of:

scientific management

Many organizations that experienced success using problem-solving teams expanded the team concept to allow team members to have greater responsibility in making decisions, implementing solutions, and monitoring outcomes. These highly autonomous groups are called:

self-managed work teams

On an automotive assembly line, Naif Marrot checks to make sure that recently painted car bodies are free of paint bubbles. Other people are assigned the task of seeing that other parts of the car are built to specifications. The task of building an automobile has been subdivided into a series of subtasks. The concepts of _____ have been employed in this situation.

specialization and division of labor

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. To achieve this goal, Manila Water's top management will first need to engage in _____ planning to determine what resources are needed to achieve this goal.

strategic

Dean Jager is in charge of the volunteer staff at the Booth Western Art Museum. He makes the work assignments, determines work schedules, and makes sure the museum uses all of its volunteer staff efficiently. Jager is a _____ manager.

supervisory

After the World Cup soccer games, Puma, the German sporting goods manufacturer, increased its end-of-year sales target by $641 million. Puma developed _____ plans with a goal that extra sales would come from new product categories the company was introducing, sale of soccer equipment, and consolidation of several subsidiaries.

tactical

The world's largest bank, Deutsche Bank, set as its objective to make its brand name as recognizable in the United States as FedEx and Visa are over the next ten years. The implementation of this long-range plan would require _____ planning.

tactical

Elton Mayo, America's first industrial psychologist, was responsible for formulating:

the explanation of the Hawthorne effect

All of the following are characteristics of an entrepreneurial personality EXCEPT:

the willingness to be a follower rather than a leader

A relatively small group of managers at the head of an organization that establishes overall strategy and long-range goals is called _____ management.

top

Frederick Taylor's scientific management emphasized:

work efficienc