3303 Exam 2 Review

Intrapreneur

When working for a software company, and because Tomas is a(n) ________, he created a new venture based solely on his idea while using his company's proprietary technology.

middle-level

Which level of manager is known as a tactical manager?

attrition

When organizations have more people than they need, they can use _____ to reduce the surplus if they have planned far enough in advance.

Outplacement is

helping dismissed workers find employment elsewhere

jobs are similar, and performance measures are comparable

The span of control should be wide when

Civil Rights Act of 1964

The _________ prohibits discrimination in employment based on race, sex, color, national origin, and religion.

contingency

"The dam is on the verge of failing, and the downstream residents are in danger!" cried the on-scene reporter. Tamara Johnson, the power plant manager, replied, "Stay calm. We implemented the emergency protocol over 24 hours ago, and we have evacuated all potentially affected residents." The emergency protocol is an example of a ________ plan.

Modular Network

A _____ is composed of temporary arrangements among members that can be assembled and reassembled to meet a changing competitive environment.

Demand Forecast

A company has developed a new cell phone that will be targeted at developing countries. It is estimated that the demand for the new product will initially be slow but would accelerate gradually as the product becomes increasingly familiar to worldwide consumers. In order to determine the number of workers necessary to staff the new production facilities, the company needs to conduct a(n)

single-use

A plan to integrate employees into a new payroll system, assuming that it is not likely to be repeated in the foreseeable future, is an example of a _____ plan.

business plan

A(n) _____ describes all the elements involved in starting a new venture.

Behavioral Description

A(n) _______________________ interview explores what candidates have actually done in the past.

high innovation/high risk.

Adriana is seeking investors for her start-up firm to develop robotic rovers to collect and analyze dust samples from the surface of the planet Mercury. According to the entrepreneurial strategy matrix, Adriana's business can be described as

The Equal Pay Act (EPA) of 1963

Allows differences in pay in the case of a seniority system or merit system

conserves managers most valuable asset --- their time period

An advantage of delegation is that it

Functional

As vice president of human resources at Lodge Corporation, Paul enjoys working alongside his peer vice presidents, largely because they all have different skills and all manage different parts of the organization, including research, engineering, production, construction, procurement, and finance. Lodge Corporation is a(n) _____________ organization.

Making cheerleaders

Bill, let me give you some advice," said his mentor, Ted. "Before seeking formal approval for your project from higher levels of management, spend some time getting support from your peers, or as it is often called

Sunkworks

Blanche works as a respected senior engineer for a large manufacturer of pharmaceutical process equipment. Several researchers within the company have discovered an innovative way to repackage pharmaceutical drugs. The company has given Blanche the opportunity and responsibility to lead a fully funded project team for 12 months to develop this idea. She is excited to lead this ______________ team.

skunkworks

Blanche works as a respected senior engineer for a large manufacturer of pharmaceutical process equipment. Several researchers within the company have discovered an innovative way to repackage pharmaceutical drugs. The company has given Blanche the opportunity and responsibility to lead a fully funded project team for 12 months to develop this idea. She is excited to lead this ______________ team.

domination

Carl wanted the advantage that comes with the collective wisdom of a management team participating in a decision. Carl's division had to decide if solar panel, wind turbine blade, or battery power research would be its next major investment. He brought together his managers in a meeting; however, Shinichi, used his strength of character and oratory skills to push for solar panel research. Unfortunately, the other managers were quiet, and Shinichi managed to overpower them with his views. Given the dynamics of the meeting and its outcome, _______ had prevented Carl's meeting from achieving what he had hoped it would.

the right number and types of people needed

Claire, engineering manager at Farley Corporation, was delighted to hear that her firm had won a big project requiring a lot of engineering—more engineering than her current staff could perform. Before she called the human resources department to enlist their help in identifying candidates to fill new positions, she first engaged in some human resources planning. Therefore, she met with her group leaders to determine

Agility

Connor complained to his fellow division manager, "Amber, our company is bogged down with cumbersome bureaucratic requirements. We must convince our executive leadership that we need to act fast to meet customer needs and to respond to other outside pressures! We need to correct past mistakes quickly and prepare for an uncertain future! We must respond to threats and capitalize on opportunities! We must place a premium on ______________!"

benchmarking

EatWell Inc., a chain of sub shops, periodically compares the quality of its food and service with its competitors in order to continually improve its performance. This corporate strategy is known as

adverse impact."

Ed, department head at ELS Corporation, contacted his human resources manager, Amanda, to inform her of his need to lay off six workers due to a slowdown in business. After Amanda reviewed Ed's information, she met with him and said, "Ed, this is a problem. You manage a department of 120 staff, and all six of the workers that you plan to lay off are white male hourly employees over the age of 60 years. This may be viewed as discriminatory because of the

Clearing the investment

Elena, a manager, has a new project idea. Before she begins building support for her idea, she begins by __________, which is explaining the idea to her boss to get his approval to seek wider support.

Choose the statement that is true of entrepreneurship.

Entrepreneurs take careful, calculated risks and are not afraid to act on those decisions.

belief that one can influence events even when one has no influence over what will happen

The psychological bias known as illusion of control refers to a

Coordination by plan deals with establishing common routines and procedures that apply uniformly to everyone.

False

domination

Five executives attended a meeting that was being held at the company. A decision needed to be made about the following year's marketing campaign. Sam, an outspoken and aggressive person, insisted that his ideas be followed because there could not be a better alternative. No one else contributed to the discussion, and Sam's views were accepted. This group discussion suffered from

drug test

Fred received an offer of employment from Major Walker, his potential supervisor at the Department of Defense, contingent upon Fred's successful passing of a _______________. When he called Major Walker to ask about this requirement, Major Walker said, "Fred, it is a frequently used as part of the employee selection process. Many federal agencies and private U.S. employers use it."

Skunkworks

Fred's boss told him, "This one-year confidential project is a great intrapreneurial opportunity for you. You will be teamed with some of the best minds in the company and you and your team members will earn a significant reward if you develop the proposed new, innovative product. And, on top of that, I'll hold your current job open for you if you decide that you want it after the project is over. Not many professionals have an opportunity to work on a(n) ____________ as I've described. Congratulations!"

psychological biases

Illusion of control, discounting the future, and framing effects are examples of

specify resources needed to translate an idea into a viable business.

The purpose of an opportunity analysis is to

decentralized

In _____ organizations, more decisions are made at lower levels of management.

functional

In a _____ organization, jobs (and departments) are specialized and grouped as production, marketing, human resources, research and development, finance, accounting, and so forth based on the skills they require.

top managers, implementation

In a centralized organization, ______________ make all the decisions and pass them down to lower levels for _______________.

Centralized

In a(n) _____ organization, important decisions usually are made at the top.

devil's advocate

In an effort to combat groupthink and an overall lack of creativity, the group leader assigned Lucy the job of criticizing ideas, for the sake of argument, throughout the meeting. Lucy is playing the role of a

a group is encouraged to say anything that comes to mind except to criticize other people

In brainstorming,

False

In collective bargaining, workers are paid while they are on strike.

risk

In managerial decision making, when one can estimate the likelihood of various consequences but still does not know with certainty what will happen, he or she is facing

Reduce the number of hierarchical layers

In the context of a firm's vertical structure, a powerful trend for U.S. businesses over the past few decades has been to

delegate work

In the context of common management challenges, leadership deteriorates into micromanagement when entrepreneurs fail to

being given more responsibility than authority.

In the context of delegation, a problem faced by a subordinate in carrying out a delegated task is

Line Departments

In the context of horizontal structure of a firm, _____ are those that have responsibility for the principal activities of the firm.

Gainsharing Plans

In the context of incentive systems, _____ reward employees for increasing productivity or saving money in areas under their direct control.

gainsharing plans

In the context of incentive systems, _____ reward employees for increasing productivity or saving money in areas under their direct control.

Subscription

In the context of successful business models for e-commerce, the _____ model involves charging monthly or annual fees for website visits or access to website content.

high innovation/high risk.

In the context of the entrepreneurial strategy matrix, a novel product idea that involves a large financial investment would be described as

Goals

In the context of the planning process, _____ are the targets or ends a manager wants to reach.

Flat

In the context of the vertical structure of a firm, a wide span of control builds a _____ organization with few reporting levels.

SWOT analysis

Jim's manager and mentor, Naomi, helped Jim develop his first business plan. Naomi said, "Jim, one of the most powerful tools that you can use in developing a strategic plan for your division is to analyze the external environment and your internal resources. I will help you formulate this strategy by using a technique called

forecast

Managers must _____ the supply of labor, which refers to how many and what types of employees are available.

an alternate that achieves the best possible balance among several goals

Managers who use the method of optimizing to make their decisions will attempt to choose

Lower right

Most small business ventures are located in the _____ quadrant of the entrepreneurial strategy matrix.

strategic

New CEO Tony Sparks told his executive team, "Every two years, on a rolling basis, we will develop a new plan that will address our high-level mission, objectives, and approaches to conduct business for the next five years. The plan will guide decision making that is consistent with our long-term goals and strategies." The five-year plan is an example of a _______ plan.

design; manufacturing

Patrick told his boss, "Unless we invest in new technology, such as computer-integrated manufacturing (CIM), we will not be able to deliver more high-variety and high-volume products. With CIM, we will have computer-aided ____ and computer-aided ____, so that the work of our engineers and factory workers will be more in sync."

manager; entrepreneur

Paul is more deliberate and slower to act, and he tends to avoid risk. Paul is better suited to be a(n) _____________ than a(n) _________.

assigning responsibility without delegating adequate authority.

Pete, a human resource intern, was given an assignment by his manager that meant he must obtain information from other departments to complete it, but some departments refused to share information with an intern. Pete was frustrated because he did not have the power to get the information he needed. In the context of this situation, Pete's manager made the mistake of

Fair Labor Standards Act

Raj wanted to promote a hard-working administrative assistant, Anne, to an administrative management position. When Raj talked to his boss, Don, about this, Don said, "Raj, this might be tricky. Make sure that you carefully and thoroughly discuss this with the human resources department. Right now, Anne is an hourly employee, and she earns time-and-a-half pay for overtime. Promotion of Anne to a management position may place her in a labor category that is exempt from overtime pay requirements under the _______________. We have to make sure that we are not in violation of the law and that Anne is completely aware and supportive of the change in status."

related diversification

Sip Well Corp. had focused only on alcoholic beverages for the last two decades. Now, as part of a(n) _____________ strategy, the company is considering entering the soft drink market.

Bootlegging

Syd works as a technician for a large manufacturer of biomedical equipment. He has discovered a technique to produce composite materials more efficiently. The company encourages its employees to pursue new ideas on company premises. Syd's company supports

benchmarking

The goal of _________ is to thoroughly understand the "best practices" of other firms and to undertake actions to achieve better performance and lower costs.

strategic

The level of planning involving the longest time horizon, usually ranging from three to seven years, is ________ planning.

identify and diagnose the problem

The manager of a restaurant noticed that the number of customers in the evening was decreasing. She promptly ordered the chef to revise the evening menu. Later, customer feedback indicated that the problem was not the menu but poor service from the waitstaff. The manager's decision to have the menu revised suggests that she failed to

Getting the blessing

The stage for building support for an idea, or ___________, means guaranteeing a project's technical and political feasibility, often with a formal presentation to higher management.

real estate

The tangible assets of an organization include

Product

To be effective, the __________ approach to departmentalization requires proper management of all the issues surrounding decentralization and delegation.

customer

Trident Sports Inc. manufactures and distributes athletic wear, sporting equipment, and protective sports gear worldwide. They are departmentalized based on products sold to professional athletes, products sold to people who pursue sports only for leisure, and products sold to sports teams. Which approach to departmentalization does the company follow?

increasing market share

Typical strategic goals involve

They provide a protected environment for new and small businesses.

What is the role of business incubators?

demand forcasting

When a software company developed a new phone, it determined how many production and marketing employees would be required for the launch. The company was involved in

six sigma

Will Haroldson, plant manager, directed his top production engineer, Jaime Mendez, to sign up for an upcoming statistical quality workshop. Will said, "I've long been a student of total quality management. I've decided to introduce a statistical approach called ________________ into our production process to analyze the causes of product defects, so that we can then eliminate those defects."

Needs Assessment

____ is an analysis identifying the jobs, people, and departments for which training is necessary.

Total Quality Management

_____ is a way of managing in which everyone is committed to continuous improvement of his or her part of the operation.

Accountability

_____ is the expectation that employees will perform a job, take corrective action when necessary, and report upward on the status and quality of their performance.

Employment-at-will

_____ is the legal concept that an employee can be terminated for any reason.

Initial public stock offerings

_____ offer a way for a business to raise capital through federally registered and underwritten sales of shares in a company.

Human Resource Management

_____ plays a vital strategic role as companies attempt to compete through people.

Downsizing

_____ refers to laying off large numbers of managerial and other employees.

Franchising

______ is an entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and a partner who manages a new store of the same type in a new location.

groupthink

______ is the phenomenon that occurs in decision making when group members avoid disagreement as they strive for consensus.

tactical

______ planning involves a process of translating broad strategic goals and plans into specific goals and plans relevant to a particular portion of an organization.

Orientation

______ training is designed to introduce new employees to their jobs and the company, and to familiarize them with policies, procedures, culture, and the like.

Six Sigma Quality

______ use(s) statistical tools to analyze the causes of product defects.

Standarization

______, in organizational integration, means establishing common routines and operating procedures that apply uniformly to everyone.

Mass Customization

_______ is the production of both high-volume and high-variety products at the same time.

Entrepreneurship

_______ is the pursuit of lucrative opportunities by enterprising individuals under conditions of uncertainty.

Diversity

_______ training focuses on identifying and reducing hidden biases against people with differences and developing the skills needed to manage.

Just-In-Time

________ is a system that calls for subassemblies and components to be manufactured in very small lots and delivered to the next stage of the production process as they are needed.

Opportunity

________ is/are a key factor that an entrepreneur should have clearly thought out. It will include a competitive advantage that can be defended, with a focus on the customer.

Clearing the investment

_________ is the first step toward building organizational support for an idea that involves explaining the idea and seeking approval to look for wider support.

hierarchy

__________ is a structure authority directly related to the three broad levels of the organizational pyramid.

Lean Manufacturing

__________ strives to achieve the highest possible productivity and total quality, cost-effectively, by eliminating unnecessary steps in the production process and continually striving for improvement.

A provision of the 1938 Fair Labor Standards Act is that

employees are normally exempt from overtime pay if they have considerable discretion in how they carry out their jobs.

The planning stage involves

ensuring the availability of the right number and types of people.

The final stage in the human resources planning process involves

evaluating the activities conducted to ensure that they are producing the desired results.

The programming stage involves

implementing specific activities like recruitment.

Matrix Management

is composed of dual reporting relationships in which some employees report to two superiors.

An advantage of a structured interview is that it

is more likely to be free of bias and stereotypes.

Recruitment is

the development of a pool of applicants for jobs in an organization.

The organization chart depicts the

positions in the firm and the way they are arranged.

A termination interview

should be conducted by the immediate superior

The function of a job analysis is

to describe the skills and knowledge needed.

The three basic employee benefits required by law are

worker's compensation, Social Security, and unemployment insurance.