Management Test 1

sustainability term

Sustainability, which at its most basic is the effort to minimize the use and loss of resources, especially those that are polluting and nonrenewable

When individuals view themselves as employees and expect their employers to tell them what to do and give them pay and benefits, those individuals are acting as A) self-reliant employees. B) agents for social capital. C) passive employees. D) emotionally intelligent employees. E) connected team members.

c

________ involves monitoring performance and making necessary changes. A) Budgeting B) Planning C) Organizing D) Leading E) Controlling

controlling

Which of the following roles is a decisional role? A) spokesperson B) liaison C) leader D) disturbance handler E) monitor

d, disturbance handler, The decisional roles of managers are entrepreneur, disturbance handler, resource allocator, and negotiator.

Carol has the knack of inspiring the people in her department to learn new skills and to perform better than expected on the job. As a manager, what is Carol especially good at doing? A) planning B) staffing C) leading D) controlling E) monitoring

leading

As one of the key management functions, leading focuses on a manager's efforts to A) mobilize people to contribute their ideas. B) build organizations that are flexible and adaptive. C) make sure goals are met. D) identify opportunities for sustainable advantage. E) build a dynamic organization

mobilize people to contribute their ideas

Technological change is one of the ongoing challenges that characterize the current business landscape.

true

Which of the following roles involves searching for new business opportunities and initiating new projects to create change? A) leader B) figurehead C) entrepreneur D) disseminator E) monitor

Answer: C Explanation: The entrepreneur role is responsible for searching for new business opportunities and initiating new projects to create change. It is one of the decisional roles played by managers.

Which of the following statements about job skills is true? A) Communication skills are needed only by top managers. B) Technical skills are equally important at all levels of management. C) Interpersonal skills are equally important at all levels of management. D) Decision skills are more important for frontline managers than top managers. E) Conceptual skills are more important for frontline managers than top managers.

Answer: C Explanation:The importance of skills varies by managerial level. Technical skills are most important early in a person's career. Conceptual and decision skills become more important than technical skills as a person rises higher in the company. But interpersonal skills are important throughout a person's career, at every level of management.

No one at Iconoclast Interiors liked the company's new website, which was a serious problem because the firm marketed itself as an expert in design. The president, Moriah, assembled the team, solicited feedback, and found help in making improvements. The ability to identify this problem and resolve it is an effective use of ________ skills. A) conceptual and decision B) informational C) technical D) intellectual and language E) negotiation

Answer: A Explanation: Conceptual and decision skills involve the ability to identify and resolve problems for the benefit of an organization and everyone concerned. Managers use these skills when they consider the overall objectives and strategy of the firm, the interactions among different parts of the organization, and the role of the business in its external environment.

Which of the following management skills does Ana implement by communicating with the rest of the organization? A) interpersonal skills B) conceptual skills C) technical skills D) tactical skills E) decision-making skills

Answer: A Explanation: Interpersonal and communication skills influence a manager's ability to work well with people. These skills are often called people skills.

A large part of Jamal's job is to help his company use more recycled products, reduce pollution, and switch to renewable sources of energy. Which of the following does Jamal's job focus on? A) sustainability B) total quality C) innovation D) collaboration E) cost competitiveness

Answer: A Explanation: Sustainability is the effort to minimize the use of resources, especially those that are polluting and nonrenewable. Done properly, sustainability allows people to live and work in ways that can be maintained over the long term without depleting or harming our environmental, social, and economic resources.

Trang is the CEO of Windward Cycles, a company which manufactures high-end racing bikes. The company's handmade, titanium bicycles have been very popular with professional cyclists, winning many industry awards. Last year the company was acquired by Kestrel Holdings, which decided to expand it into the recreational cycling market with a line of lower-priced road bikes. At the end of the first quarter, Trang meets with his team. Kasha, the CFO, has determined that advance sales of the new road bikes have not been as robust as expected in the Midwest region. If Trang is utilizing the controlling function of management, his likely next steps will involve A) looking at the advertising budget and deciding to allocate more money to the Midwest market. B) assigning a team to visit the Midwest offices with the goal of motivating the employees. C) revamping the company's mission statement to align with those of Kestrel Holdings. D) asking himself how he can be a more effective leader as the company moves in a new direction. E) recruiting and training new hires for the Midwest office's sales team.

Answer: A Explanation: When managers implement their plans, they often find that things are not working out as planned. The controlling function makes sure that goals are met. It asks and answers the question, "Are our actual outcomes consistent with our goals?" It then makes adjustments as needed. In controlling the problem of lackluster road bike sales in the Midwest, Trang may decide to increase the budget for or alter the approach to advertising in that area.

Compilation of an accounting statement can be categorized under ________ skills. A) technical B) communication C) conceptual D) interpersonal E) decision-making

Answer: A Explanation:A technical skill is the ability to perform a specialized task that involves a certain method or process. For example, accounting and finance courses will help individuals develop the technical skills they need to understand and manage the financial resources of an organization

Which of the following is one of the four fundamental traditional management functions? A) planning B) contracting C) outsourcing D) distributing E) innovating

Answer: A Explanation:The four traditional functions of management are planning, organizing, leading, and controlling. They remain as relevant as ever, and they still provide the fundamentals that are needed in start-ups as much as in established corporations

Which of the following is one of the three essential categories of skills that managers need? A) study skills B) technical skills C) negotiation skills D) counseling skills E) manipulative skills

Answer: B Explanation: Although managers need many individual skills, there are three essential categories: technical skills, interpersonal and communication skills, and conceptual and decision skills.

In today's business climate, what is the recommended way to do planning? A) as a top-down process in which the highest-level executives decide what to do B) as a continual process that uses the input of people throughout the organization C) as a process in which middle managers and top executive collaborate in decision making D) as a process by which top executives make proposals and all levels of the company vote on them E) as a bottom-up process in which all proposals must come from frontline employees or managers

Answer: B Explanation: In today's business climate, delivering strategic value, or planning, is a continual process in which people throughout the organization use their intelligence and the input of customers, suppliers, and other stakeholders to identify opportunities to create, seize, strengthen, and sustain competitive advantage.

Done properly, sustainability encourages people to live in ways that can be maintained for the A) most profit. B) long term. C) individual. D) wealthy. E) present.

Answer: B Explanation: Sustainability is about protecting our options. Done properly, sustainability allows people to live and work in ways that can be maintained over the long term (generations) without depleting or harming our environmental, social, and economic resources.

Which of the following functions of management is described as building a dynamic organization? A) planning B) organizing C) leading D) controlling E) staffing

Answer: B Explanation: The organizing function can be described as building a dynamic organization. Now and in the future, effective managers will build organizations that are flexible and adaptive, particularly in response to competitive threats and customer needs.

Which of the following roles was Felipe performing when he attended the retirement dinner for the bank officer? A) liaison B) figurehead C) spokesperson D) entrepreneur E) disturbance handler

Answer: B Explanation:A figurehead performs symbolic duties such as attending ceremonies and serving other social and legal demands. It is one of the interpersonal roles of managers

Listening to employee suggestions, gaining support for organizational objectives, and fostering an atmosphere of teamwork are all considered A) technical skills. B) interpersonal and communication skills. C) diagnostic and relational skills. D) statistical and analytical skills. E) conceptual and decision skills.

Answer: B Explanation:Interpersonal and communication skills are people skills; they are the ability to lead, motivate, and communicate effectively with others.

Which of the following roles was Felipe performing when he dealt with the angry employee? A) monitor B) negotiator C) disturbance handler D) resource allocator E) liaison

Answer: C Explanation: A disturbance handler is one who takes corrective action during crises or other conflicts, such as dealing with the angry employee. It is one of the decisional roles of managers.

Which of the following skills is Aimee showing by taking the time to talk with the person interviewing her for the local newspaper? A) conceptual and decision skills B) monitoring skills C) interpersonal skills D) technical skills E) negotiating skills

Answer: C Explanation: Interpersonal and communication skills influence a manager's ability to work well with people. These skills are often called people skills.

Which of the following skills are more important during the beginning of a person's career? A) conceptual skills B) decision skills C) technical skills D) entrepreneurial skills E) statistical skills

Answer: C Explanation: Technical skills are most important early in one's career. Conceptual and decision skills become more important than technical skills as individuals rise higher in the company. But interpersonal skills are important throughout one's career, at every level of management.

Hoa is about to begin her junior year of college, majoring in software engineering with a further specialization in software architecture. Ideally, she'd like to work for a small, innovative start-up, but she also wants to be as employable as possible in a fluctuating job market. She knows the importance of having skills that are transportable across different industries. As she plans her academic trajectory over the next two years, she should A) focus on developing skills that will make her more competitive in a specific job market, for example the video game industry. B) select classes that will broaden her skill set as much as possible, so that she can be competitive for different types of jobs, including those outside the tech industry. C) focus on developing expertise in one skill set while increasing her general knowledge of the requirements for a specific industry. D) focus on learning a broad range of skills at the top level while continuing to develop expertise in one specific area of software design. E) become a specialist in as many subject areas as possible—for example, by developing deep expertise in several coding languages.

Answer: D Explanation: Hoa will benefit most through working to become both a specialist and a generalist. To accomplish this, she should focus on learning a broad range of skills at the top level while continuing to develop expertise in one specific area of software design. Learning specific skills will help her provide concrete, identifiable value to the companies she applies to. At the same time, knowing enough about a variety of subject matters will allow her to think strategically and work with different perspectives.

Sustainability is defined as the A) fast and timely execution, response, and delivery of results. B) speed and dependability with which an organization delivers what customers want. C) introduction of new goods and services into the market. D) effort to minimize the use of resources, especially those that are polluting and non-renewable. E) minimization of costs to achieve profits and be able to offer prices that are attractive to consumers.

Answer: D Explanation: Sustainability is the effort to minimize the use of resources, especially those that are polluting and nonrenewable. Done properly, sustainability allows people to live and work in ways that can be maintained over the long term without depleting the environmental, social, and economic resources.

Which of the following roles was Felipe performing when he notified the employees of the upcoming wage freeze? A) negotiator B) liaison C) disseminator D) spokesperson E) entrepreneur

Answer: D Explanation:A spokesperson speaks on behalf of the organization about plans, policies, actions (such as the pending layoff), and results. It is one of the informational roles of managers

A(n) ________ skill is the ability to perform a specialized task that involves a certain method or process. A) conceptual B) administration C) interpersonal D) communication E) technical

Answer: E Explanation: A technical skill is the ability to perform a specialized task that involves a certain method or process. Most people develop a set of technical skills to complete the activities that are part of their daily work lives.

Liu focuses on assembling and coordinating the people, equipment, and supplies that his company needs to achieve its goals. What management function does Liu emphasize in his work? A) planning B) leading C) controlling D) sustaining E) organizing

Answer: E Explanation: Organizing is assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.

Which of the following statements about managers is true? A) It is more important for managers to be efficient than to be effective. B) It is more important for managers to be effective than to be efficient. C) Low-level managers should be efficient, while high-level managers should be effective. D) Low-level managers should be effective, while high-level managers should be efficient. E) The best managers maintain a clear focus on both effectiveness and efficiency.

Answer: E Explanation: Some managers fail at being either efficient or effective, or focus on one at the expense of the other. The best managers maintain a clear focus on both effectiveness and efficiency.

Individuals' conceptual and decision-making skills A) are most important early in their career. B) involve the ability to perform a specialized task using a specific method. C) are often referred to as people skills. D) become less important to them as they rise higher in the company. E) become more important to them as they grow in the company.

Answer: E Explanation: Technical skills are most important early in your career. Conceptual and decision skills become more important than technical skills as you rise higher in the company. Interpersonal skills are important throughout your career, at every level of management.

What are the four ongoing challenges that characterize the current business landscape? What is the potential impact of these challenges on business?

Collaboration across boundaries ensures that people in different parts of the organization collaborate effectively with one another. This requires productive communications among different departments, divisions, or other subunits of the organization. T-line managers work with everyone.

Which of the following statements about managers is true? A) It is more important for managers to be efficient than to be effective. B) It is more important for managers to be effective than to be efficient. C) Low-level managers should be efficient, while high-level managers should be effective. D) Low-level managers should be effective, while high-level managers should be efficient. E) The best managers maintain a clear focus on both effectiveness and efficiency.

E) The best managers maintain a clear focus on both effectiveness and efficiency., Some managers fail at being either efficient or effective, or focus on one at the expense of the other. The best managers maintain a clear focus on both effectiveness and efficiency.

Write an essay on knowledge management. Give a suitable example.

Knowledge management is the set of practices aimed at discovering and harnessing an organization's intellectual resources—fully using the intellects of the organization's people.

knowledge management: What are the four ongoing challenges that characterize the current business landscape? What is the potential impact of these challenges on business?

Knowledge management is the set of practices aimed at discovering and harnessing an organization's intellectual resources—fully using the intellects of the organization's people. Because companies in advanced economies have become so efficient at producing physical goods, most workers have been freed up to provide services or "abstract goods" such as software, entertainment, data, and advertising. These workers, whose primary contributions are ideas and problem-solving expertise, are often referred to as knowledge workers.

Being self-reliant means individuals should A) take full responsibility for themselves and their actions. B) be open minded and responsive when others have innovative ideas. C) always wait for orders from higher management in the organization. D) trust that the organization will manage their career. E) not work in partnership with fellow employees.

a

What is Web 2.0? A) social networking sites that allow users to publish and share information B) an advanced type of search engine that disregards most unusable data C) a type of Internet platform that displays information but does not have interactivity D) a program that allows businesses to sell merchandise on the Internet more securely E) a new form of web-based video communications technology

a

Knowledge management concerns developing which of the following resources of an organization? A) its members' expertise, skills, wisdom, and relations B) its loyal customer base C) its property, such as factories and administrative buildings D) its store of both resources and manufactured goods E) its equipment, such as vehicles, tools, and machines

a, its members, its expertise, skills, wisdom, and relations, Knowledge management is about finding, unlocking, sharing, and capitalizing on the most precious resources of an organization: people's expertise, skills, wisdom, and relationships.

Anna excels at identifying the talents of employees and finding the jobs where they can best use those talents to benefit the organization. Anna excels at ________ management. A) knowledge B) scientific C) project D) service E) quality

a, knowledge Knowledge management is the set of practices aimed at discovering and harnessing an organization's intellectual resources, fully utilizing the intellects of the organization's people. It is about finding, unlocking, sharing, and altogether capitalizing on the most precious resources of an organization.

To be ________ is to achieve organizational goals. A) efficient B) effective C) innovative D) sustainable E) strategic

b, effective, Good managers work both effectively and efficiently. To be effective is to achieve organizational goals. To be efficient is to achieve goals with minimal waste of resources—that is, to make the best possible use of money, time, materials, and people.

Planning includes A) analyzing current situations. B) determining rewards for goals achievement. C) attracting people to the organization. D) motivating employees. E) implementing necessary changes.

analyzing current situations

A common complaint about leaders, especially outstanding performers who are newly appointed to leadership, is that they lack A) self-acceptance. B) empathy. C) technical skills. D) decision-making skills. E) self-control.

b

Which of the following is one of the ongoing challenges that characterize the current business landscape? A) uniformity of offerings B) technological change C) quality D) cost competitiveness E) speed

b) technological change

The planning function in the new business environment can also be described more dynamically as A) building a dynamic organization. B) delivering strategic value. C) stimulating people to be high performers. D) monitoring performance and implementing needed changes. E) motivating workers to do their jobs effectively.

b, delivering strategic value, The planning function for the new business environment is more dynamically described as delivering strategic value. Value describes the monetary amount associated with how well a job, task, good, or service meets users' needs. That value is strategic when it contributes to meeting the organization's goals.

Which of the following roles is performed by a customer service manager who works to defuse a situation with an angry customer? A) liaison B) disturbance handler C) negotiator D) disseminator E) figurehead

b, disturbance handler, The disturbance handler role involves taking corrective action during crises or other conflicts, such as dealing with an angry customer.

Kowalski-Schmidt, a brewery headquartered in Kenosha, Wisconsin, has been in business since 1906. They manufacture several brands of value-priced lagers and ales, which are distributed throughout the United States and Canada. Recently the company decided to begin manufacturing a higher-priced, specialty craft beer. To that end, they began a crowdsourcing campaign to help decide on the features of the craft beer brand. This resulted in the company A) sending out a survey to the owners of bars and convenience stores where Kowalski-Schmidt's bestselling brand is sold to get feedback on the sales of their products. B) launching a contest, via their website, to solicit the input of consumers and homebrew hobbyists in the United States. C) sponsoring a local music festival and using the occasion to offer attendees a preview of the new craft beer. D) adding a new comments section to their website allowing consumers to leave feedback on their existing brands. E) having the marketing team design a new line of t-shirts promoting the craft beer line, based on the popularity of previous merchandising campaigns.

b, launching a contest, via their website, to solicit the input of consumers and homebrew hobbyists in the United States, Crowdsourcing is a type of collaboration across boundaries that has resulted from the instant communication made possible through the Internet and social media. Crowdsourcing is a new and effective way for companies and consumers to become collaborators.

Hector, the vice president of Hillendale Landscaping Solutions, LLC, attended a trade show to make additional supplier contacts for the business. Which of the following roles was Hector fulfilling in this situation? A) leader B) liaison C) figurehead D) disturbance handler E) resource allocator

b, liason, The liaison role is responsible for maintaining a network of outside contacts who provide information and favors. It is one of the interpersonal roles played by managers.

Marc is on the fast track to become an executive in his company. As he advances, he will most likely have less and less need of his ________ skills. A) communication B) technical C) interpersonal D) conceptual E) decision

b, technical skills, Technical skills are most important early in your career. Conceptual and decision skills become more important than technical skills as you rise higher in the company. But interpersonal skills are important throughout your career, at every level of management

Rachael is the owner and manager of Aquarius Coffee and Tea, a coffee shop and bakery popular among local college students as a hangout and study spot. Aquarius has been in operation since 1978, and Rachael has made many changes over the years to keep up with the changing tastes and expectations of her clientele. In the last ten years, she has gone from offering paid Wi-Fi to free Wi-Fi, and she recently expanded her offerings to include vegan and gluten-free items as well as salads and sandwiches. Recently, a new café called Bluebird Coffee and Cupcakes opened across town, and Aquarius' business has dropped off considerably. One of her young cashiers, Leora, notes that Rachael has not made the best use of the Internet to promote her business. What will Leora most likely suggest as the quickest, cheapest, and most effective way for Rachael to expand her technological reach to her college-aged clients?

b. Technology is vitally important in the business world. Technology both complicates things and creates new opportunities. The challenges come from the rapid rate at which communication, transportation, information, and other technologies change. Because of this, it is especially important to make wise decisions about using technology. Designing a phone app will be expensive and time-consuming, while blogs and email newsletters do not appeal to college-aged customers. In Rachael's situation, expanding her social media presence will be the quickest and cheapest way to reach the demographic she is trying to attract

21) Which of the following statements is true about the Internet? A) It has reduced threats to most businesses. B) It drives down costs. C) It does not influence globalization. D) It slows down globalization. E) It slows down decision making.

b. The Internet is important to business because it is a marketplace, a means for manufacturing goods and services, a distribution channel, an information service, and more. It drives down costs and speeds up globalization. It improves efficiency of decision making. Managers can watch and learn what other companies are doing on the other side of the world.

Emotional intelligence can best be defined as A) the ability to perform a specialized task involving a particular method or process. B) the ability to identify and resolve problems for the benefit of the organization and its members. C) the skills of understanding oneself, managing oneself, and dealing effectively with others. D) the skill of monitoring efforts and making the necessary changes. E) the skill to lead, motivate, and communicate effectively with others.

c

Which of the following is an example of collaboration across boundaries?A) Allie, a bookkeeper, has an idea for keeping more efficient records of outstanding invoices, and she clears the idea with her accounting manager before implementation. B) While working out in the company gym, Jamal comes up with an idea that might help his team member Ursula with the ad campaign she is working on. C) Before deciding on the trim size of the book his editorial team is producing, Hector asks the shipping department how the various choices will affect packing costs. D) Mei stays late to stuff an important mailing in envelopes because her boss, an executive, needs the mailing to go out in the next morning's mail. E) After listening to the complaints of the other technicians in the IT Department, Gregor devises a standard form for company employees to use for service requests.

c, One of the most important processes of knowledge management is to ensure that people in different parts of the organization collaborate effectively with one another. This requires productive communications among different departments, divisions, or other subunits of the organization.

In the future, ________ business organizations will be the most effective. A) hierarchical B) closed C) flexible D) bureaucratic E) traditional

c, flexible, Historically, organizing involved creating an organization chart and having traditional HR functions. In the future, effective managers will build organizations that are flexible and adaptive, particularly in response to competitive threats and customer needs.

31) ________ is the introduction of new goods and services. A) Collaboration B) Efficiency C) Innovation D) Adaptation E) Introspection

c, innovation, Innovation is the introduction of new goods and services. A firm must adapt to changes in consumer demands and to new competitors.

88) ________ skills influence a manager's ability to work well with people. A) Decision making B) Technical C) Interpersonal D) Professional E) Conceptual

c, interpersonal, Interpersonal and communication skills influence a manager's ability to work well with people. These skills are often called people skills.

Cost competitiveness involves A) sacrificing quality to keep costs low. B) increasing prices to boost profits. C) pricing products at a level attractive to consumers. D) managing costs by being effective. E) offering high-quality products at higher prices

c, pricing products at a level attractive to consumers, Cost competitiveness means keeping costs low enough so that the company can realize profits and price its products (goods or services) at levels that are attractive to consumers. Needless to say, if a company offers a desirable product at a lower price, it is more likely to sell.

Through careful monitoring of the financial budgets of a firm, managers can detect potential problems in reaching their financial goals and take actions to reverse the problem. This is an example of the ________ function of management. A) planning B) controlling C) leading D) organizing E) staffing

controlling

When Martina, manager of the sales department for ShineCo Cleaning Supplies, realized that her plan to increase her associates' sales levels was not producing the desired results, she instituted a refresher training course that helped the associates achieve better results. Which of the following management functions is illustrated in this scenario? A) planning B) organizing C) leading D) controlling E) budgeting

controlling

Debra and her top managers are choosing the goals that Debra's company should achieve and deciding in advance the appropriate actions needed to achieve those goals. What are they doing? A) staffing B) forecasting C) organizing D) planning E) reporting

d planning

Maria attends the groundbreaking ceremony of a new children's hospital as the representative of her corporation, which gave a large donation toward the construction of the hospital. What role is Maria fulfilling? A) disseminator B) spokesperson C) liaison D) figurehead E) disturbance handler

d, figurehead, The figurehead role is responsible for performing symbolic duties (attending ceremonies and serving other social and legal demands). It is one of the interpersonal roles played by managers.

________ is the set of practices aimed at discovering and harnessing an organization's intellectual resources. A) Web 2.0 B) Competitive advantage C) Cost competitiveness D) Knowledge management E) Quality

d, knowledge management, Knowledge management is the set of practices aimed at discovering and harnessing an organization's intellectual resources, fully utilizing the intellects of the organization's people.

Maureen has an ice cream shop in Washington, D.C. One thing that attracts busy people to her shop is that she has perfected a way to make milkshakes and sundaes in half the time her competitors take. Which fundamental driver of success has Maureen emphasized? A) knowledge B) quality C) cost competitiveness D) speed E) sustainability

d, speed, to succeed, managers must deliver performance. The fundamental success drivers of performance are innovation, quality, service, speed, cost competitiveness, and sustainability. Speed is rapid execution, response, and delivery.

Emilia understands her own strengths and limitations, she manages her feelings and decisions well, and she deals effectively with other people. Emilia has A) verbal intelligence. B) business intelligence. C) cultural intelligence. D) leadership intelligence. E) emotional intelligence.

e

Which of the following statements is true of collaboration? A) Collaboration occurs only within the boundaries of an organization. B) A sole focus on unit performance spurs collaboration. C) It is unrealistic to think that a company can collaborate with its customers. D) Companies should capitalize on ideas generated within the organization alone. E) Collaboration is an important process of knowledge management.

e, One of the most important processes of knowledge management is to ensure that people in different parts of the organization collaborate effectively with one another. This requires productive communications among different departments, divisions, or other subunits of the organization.

In terms of good management, efficiency differs from effectiveness primarily in the former's focus on A) customer satisfaction. B) shareholder profits. C) customer retention. D) employee turnover. E) resource utilization.

e, resource utilization, Good managers accomplish organizational goals by working both effectively and efficiently. To be effective is to achieve organizational goals. To be efficient is to achieve goals with minimal waste of resources—that is, to make the best possible use of money, time, materials, and people.

Collaboration occurs within companies and between companies, but it cannot occur between a company and a customer.

false, Customers can be collaborators. Companies must realize that the need to serve the customer drives everything else.

In today's world, planning is a top-down function in which top executives establish business plans and tell others to implement them.

false, Delivering strategic value is a continual process in which people throughout the organization use their intelligence and the input of customers, suppliers, and other stakeholders to identify opportunities to create, seize, strengthen, and sustain competitive advantage

It is sufficient for a manager to pay attention to one of the four management functions as long as he or she is very skillful at it.

false, Some managers are particularly interested in, devoted to, or skilled in one or two of the four functions but not in the others. But all managers should devote adequate attention and resources to all four functions.

Done properly, sustainability encourages people to live in ways that can be maintained for a short period without harming environmental resources.

false, Sustainability is about protecting our options. Done properly, sustainability allows people to live and work in ways that can be maintained over the long term (generations) without depleting or harming our environmental, social, and economic resources.

Emotional intelligence should be viewed as something you inherit and cannot change

false; The common phrase "emotional intelligence" is controversial. For instance, individuals should not consider it as a type of intelligence but as a set of skills that they can learn and develop—but these skills do matter in many ways.

Trang is the CEO of Windward Cycles, a company which manufactures high-end racing bikes. The company's handmade, titanium bicycles have been very popular with professional cyclists, winning many industry awards. Last year the company was acquired by Kestrel Holdings, which decided to expand it into the recreational cycling market with a line of lower-priced road bikes. At the end of the first quarter, Trang meets with his team. Kasha, the CFO, has determined that advance sales of the new road bikes have not been as robust as expected in the Midwest region. If Trang is utilizing the controlling function of management, his likely next steps will involve A) looking at the advertising budget and deciding to allocate more money to the Midwest market. B) assigning a team to visit the Midwest offices with the goal of motivating the employees. C) revamping the company's mission statement to align with those of Kestrel Holdings. D) asking himself how he can be a more effective leader as the company moves in a new direction. E) recruiting and training new hires for the Midwest office's sales team.

looking at the advertising budget and deciding to allocate more money to the Midwest market.

Gerard is a general manager for Handy Dandy Corp., a tool-manufacturing firm. He is considering some changes to the production floor, which include layout adjustments and the purchase of new equipment to improve efficiency. He also wants to promote one of his employees to team leader. Which of the following functions of management is Gerard performing? A) planning B) training C) leading D) organizing E) controlling

organizing

________ is assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals. A) Benchmarking B) Planning C) Organizing D) Optimizing E) Quantifying

organizing

The managers at EarthGreen Technology are currently developing strategies for the company's new products and setting objectives for its business units. These managers are engaging in the management function of A) forecasting. B) planning. C) staffing. D) organizing. E) outsourcing.

planning