Exam 1 Quiz Concepts

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

​Ann's of Austin produces a premium Passion Fruit sorbet for local restaurants. Ann has unit costs of​ $1.60 per gallon​ (labor, 80​ cents; materials, 70​ cents; and​ overhead, 10​ cents) and she sells the product for​ $2.00 per gallon. What is her multifactor​ productivity?

1.25 (2.00/1.60)

Management positions have increased from​ 10% to​ _____% of all jobs since 1950.

18

A process produces​ 6,000 units of output that yield​ $5.00 per unit. Resources contributed to this output are 200 hours of labor at​ $15.00 per​ hour, materials at​ $750, and overhead at​ $250. What is the labor productivity​ (in units per​ labor-hour)?

30

Which of the following is an example of a​ single-use plan?

A budget

Information is best defined as​ ________.

a set of conclusions derived from data analysis

Which type of forecast is focused on how many products will be sold to consumers over a specified time​ period?

Sales forecast

​________ involves developing a list of activities and following time tables for the purpose of attaining an objective.

Scheduling

Facts or statistics crucial to the controlling process are called​ ________.

data

Operations strategy translates service or product plans and competitive priorities for each market segment into

decisions affecting the processes that support those market segments.

In a​ career, an individual should be primarily focused on​ _____.

developing skills to qualify for the next planned job

Modern management challenges require​ _____ skills, the ability to establish and maintain a workforce that represents a combination of human characteristics appropriate for achieving organizational success.

diversity

The element of the general environment that indicates how resources are being distributed and used in the environment is the​ ________ component.

economic

The higher the proportion of total organizational resources that contributes to productivity during the manufacturing​ process, the more​ __________ the manager.

efficient

Which term refers to a strategy intended to strengthen or protect the amount of business a strategic business unit is currently​ generating?

Retrenchment

Which of the following refers to the applications in an organization that managers use to gain information that can assist their decision​ making?

An information system

Management​ _____ skills refer to a​ person's ability to gain and maintain a career as a manager.

employability

Technological change is proceeding at a rapid​ rate, but there are many challenges such as

employees may resist technological change if it is not managed well.

To best understand what is happening both internally and externally to the​ organization, and to increase the probability of developing organizational strategies that reflect the organizational​ environment, a(n)​ ________ analysis should be undertaken.

environmental

United States business operations​ (i.e., product​ design) in an international area based on the local standard rather than U.S. standards is an example of a decision based on​ _______ considerations.

ethical

Gymtastic was able to serve large crowds of customers and then adjust operations to serve very few customers thanks to their competitive capability related to

flexibility.

The process of predicting future environmental issues is primarily accomplished through​ _________.

forecasting

Dylan is a small business owner and she is currently involved in the strategy implementation step of the strategic management process. Dylan has the ability to readily understand the fears and frustrations of her employees when it comes to strategy implementation. Dylan possesses the​ _____ skill.

interacting

When setting organizational​ objectives, a(n)​ _____ objective is intended to be achieved in one to five years.

intermediate

Laws such as the Clean Air​ Act, the Affordable Care​ Act, and the Consumer Products Safety Act are considered part of the​ _________ component of the general environment.

legal

Selecting the transportation mode​ (train, ship,​ truck, airplane, or​ pipeline) and scheduling both​ in-bound and outbound shipments is typically accomplished by which supply chain​ process?

logistics

Decisions that relate to ensuring that specific organizational tasks are carried out correctly are called​ _______ decisions.

operational control

The foundation for managing processes and value chains is

operations strategy.

Which core process includes the activities required to produce and deliver the service or product to the external​ customer?

order fulfillment process

The purpose for which an organization exists is its​ ________.

organizational mission

General Electric​ (GE) has​ _____, which include the type of training programs that GE employees should undergo to expand their skill set.

personnel development standards

The power that a person gains from holding a particular position in the organization is known as​ ________ power.

position

Robert is a manager who is able to convince his employees to work late. This is an example of Robert using​ ________.

power

Regardless of how departments and functions are individually​ managed, they are always linked together through

processes

Ellie is crafting strategy for her online business. She is currently involved in tactical planning and she is examining the next six months. This time period would be considered​ _____.

short range

​Demographics, the statistical characteristics of a​ population, are reflected in the​ _________ component of the general environment.

social

If​ "every process and every person in an organization has​ customers," then

some customers are external and some are internal.

At the Holiday​ Hotel, maids are told they need to completely clean a room in 5 minutes or less for their performance to be considered adequate. This specific time limit would best be described as a​ ________.

standard

A significant organizational segment that is analyzed to develop strategies for generating future business or revenue is known as a​ ________.

strategic business unit

A manager is making a decision related to the future objectives of the organization as a whole. This would likely be characterized as​ a(n) _______ decision.

strategic planning

​Long-range planning that focuses on the organization as a total unit is called​ _______.

strategic planning

Decisions that tend to focus on the entire​ organization, cutting across departmental​ lines, and have​ long-term consequences are called

strategic.

The process of determining how to best achieve organizational objectives is known as​ ________.

strategy formulation

In the strategic management​ process, putting strategies into action is done through​ _________.

strategy implementation

When Will tries to boot up his work​ computer, it loads very slowly. This is a​ ______ that suggests his computer may have a major issue such as a virus.

symptom

Any type of equipment or process that organization members use in the performance of their work is called​ ________.

technology

The exploration stage allows for a richer understanding of what a career might be​ like, and is often the basis for which career​ stage?

Establishment stage

Which of the following statements about productivity is​ correct?

Multifactor inputs must be expressed in a common unit of measure.

Which term refers to developing action programs for the purpose of accomplishing business​ objectives?

Planning

Which of the following suggests that managers should provide funds for planning only when they anticipate a reasonable return on​ investment?

Commitment principle

​_________ refers to the resources and ability a firm has to undertake an action.

Competitor capability

As a manager moves from​ lower-level management to​ upper-level management, which skill becomes more​ important?

Conceptual skills

A credit​ card-processing firm would be likely to list the following competitive priorities for its external​ customers:

Consistent quality

Which management function is involved with ensuring that an event occurs as it was intended to​ occur?

Controlling

​Walmart's strategy focuses on offering lower prices than its competitors. This is an example of which generic​ strategy?

Cost leadership

Which of the following is an example of a standing​ plan?

A sustainability policy

A customer service package would exclude which of the​ following?

Marketing

Which of the following compares a​ company's internal strengths with external​ opportunities?

SWOT analysis

What do all processes​ have?

inputs and outputs

The third stage in career evolution is the​ _____ stage, which typically consists of individuals 45 to 65 years old.

maintenance

In​ Porter's Five Forces​ Model, ________ refers to the ability of new firms to enter the industry.

the threat of new entrants

The Fine Feline Co. produces decorative collars for cats. Last week employees worked 320 hours and produced​ 32,000 cat collars. This week the workers worked the same 320​ hours, but produced​ 33,600 cat collars. Labor productively increased by​ _______ over last week.

​5% (33,600 - 32,000) / 33,600

When taking steps to increase​ power, the perception can be created that the employees are dependent on the manager. The strategy is to convey clearly the amount of​ _____ the manager has over organizational​ _____.

​authority, resources

Monitoring the​ organization's external​ environment, and proposing new strategies and vision are examples of​ _____.

​change-related activities

When setting organizational​ objectives, a(n)​ ________ objective is intended to be achieved in five to seven years.

​long-term

The three mainline functions of any business are

​operations, marketing, and finance.

Total power is made up of two types of​ power: _______ and​ _________.

​position, personal

In market​ analysis, the needs assessment step identifies

​product/service attributes.

The time period during which production processes increase volume in order to meet customer demands while coping with quality problems and​ last-minute design changes is called

​ramp-up.

Activities that include short term planning and monitoring performance are examples of​ _____.

​task-related activities

Which type of plan supplies broad guidelines for action that support organizational​ objectives?

A policy

In the BCG​ Growth-Share Matrix, which matrix quadrant is categorized as having a large share of a market that is growing only​ slightly?

Cash cow

Which of the following considerations is not involved in developing a corporate​ strategy?

Developing a staffing plan for the upcoming production period

Which of the following outcomes is not a direct result of a market​ analysis?

Development of core competencies

Which of the following represents the first step in the strategic management​ process?

Environmental analysis

At the end of a particular operating​ period, suppose Brenda​ (the manager) sits down with Ethan​ (the employee) and they meet to determine how well​ Ethan's performance has met the objectives set by Brenda. Which step in the MBO process would this​ be?

Evaluate performance

Which of the following career stages is characterized by​ self-analysis and understanding the different types of jobs​ available?

Exploration stage

Only the operations function part of an organization must design and operate processes that are part of a supply chain and deal with​ quality, technology, and staffing issues.

False

The effective operation of a firm and its supply chain is NOT as important as the design and implementation of its processes.

False

Which tool is designed to identify and analyze forces that determine competitiveness within an​ industry?

Five Forces Model

Which of the following is a strategy that targets a particular customer in order to make the organization more​ competitive?

Focus

Suppose you wanted a planning tool to schedule​ resources, including human resources and the use of machinery over​ time, and you wanted it in bar graph form. Which of the following would be the best​ tool?

Gantt chart

Which of the following skills helps build cooperation within a team being​ led?

Human skills

Which of the following does NOT describe the management​ process?

Implementing a series of activities to achieve long term returns on investments

Which of the following is a behavior that makes the controlling process more​ effective?

Implementing timely corrective action

What is the affirmative purpose of​ planning?

Increasing organizational success

The​ low-cost source for service labor for the world is

India.

​Motivating, leading,​ directing, and actuating are all words that describe which management​ function?

Influencing

Which term refers to computers and telecommunication devices that allow for the use of information in the performance of​ work?

Information technology

When management outlines its commitment to new methods of​ operation, what type of objective is being​ set?

Innovation

Which of the following scenarios illustrates an order​ winner?

Ken had always been fascinated by shiny​ objects, so he plucked the​ chrome-plated thermos from the shelf and raced to the nearest checkout line.

When planning for career​ success, which of the following would be least​ helpful?

Learning to be reactive

Which of the following guidelines for establishing objectives focuses on helping a worker to be better motivated in carrying out an​ objective?

Let the people responsible for attaining the objectives have a voice in setting them.

Which management effort would most likely help women focus on important organizational​ issues?

Making sure that women know the top three strategic goals for the company

Which of the following refers to the ability to carry out the process of reaching organizational goals by working with and through people and other organizational​ resources?

Management skill

Which of the following refers to​ management's use of​ resources, such as raw materials and​ capital, in meeting​ goals?

Managerial effectiveness

When setting objectives for where a firm would like to be in comparison to​ competitors, what key area of objectives is being​ considered?

Market standing

What step in the management by objectives process involves the manager and the worker checking to see whether the objectives are being​ reached?

Monitor progress

Which term refers to the target toward which the open management system is​ directed?

Organizational objective

When tasks are set up so that the output of individuals contributes to the success of​ departments, and therefore the​ organization, what management function is being​ executed?

Organizing

Which of the following are characteristics of service provider​ operations?

Perishable outputs

Monique has strong relationships with her​ subordinates, which allows her to have significant influence on how they do their jobs and engage in​ work-related behaviors. This is an example of which type of​ power?

Personal

Raul is a manager who wants to make sure his subordinates know how he will determine whether an objective has been reached. On which guideline for establishing objectives is Raul​ focusing?

Pinpointing expected results

Determining which tasks must be performed to attain organizational goals is part of which management​ function?

Planning

Which management function precedes and is the basis for other management​ functions?

Planning

Which term refers to any factor within an organization that is a barrier to an organizational​ goal?

Problem

​_______ are the fundamental activities that organizations use to do work and achieve their goals.

Processes

The Generally Accepted System Security Principles​ (GASSP) offer five key principles for information system managers. Which of the following is NOT​ one?

Profit principle

How can an organization best facilitate the transfer of an employee who has a working​ spouse?

Providing the spouse with career development opportunities

Which of the following is an advantage of using an MBO​ approach?

Securing employee commitment to reaching organizational goals

Which of the following steps in the planning process would include examining the overall economy when forming​ objectives?

Stating organizational objectives

​_____ is the last step of the strategic management process and consists of monitoring and evaluating the strategic management process as a whole to ensure that it is operating properly.

Strategic control

​________ involves outlining what the different parts of an organization should do in order to be successful at some point one year or less into the future.

Tactical planning

​__________ involve the ability to apply specialized knowledge and expertise to​ work-related techniques and procedures.

Technical skills

As relationships and teams replace rigid organizational​ structures, how will these new structures affect​ women's ability to succeed in future management​ situations?

Women are likely to be more successful.

Which of the following events from the twentieth century defines the history of operations and supply chain​ management?

The Toyota Production System for removing wasteful activities from an organization. Alfred​ Sloan's introduction of strategic planning for achieving product proliferation and variety. The invention of the assembly line for the Model T car by Henry Ford. All of the above.

Under​ Porter's Five Forces​ Model, what happens when the threat of substitutes​ increases?

The attractiveness of an industry decreases.

Which method of sales forecasting is based on the informal but informed opinions of​ managers?

The jury of executive opinion method

An effective way of gaining a global presence when one firm has a core competency that another needs but is unwilling​ (or unable) to duplicate is

a collaborative effort.

A firm that competes using the development strategy of innovation is characterized by

a need to be a​ first-mover.

Which of the following best describes the role of​ management?

To guide organizations toward goal accomplishment

Which of the following is the fundamental purpose of​ planning?

To help the organization reach its objectives

Each function of an organization has its own identity and yet is connected with operations through shared processes.

True

SSS is a local restaurant serving the needs of college​ students, faculty, and staff. The manager is considering adding a website so​ carry-out customers can order in advance more easily. Which process would be a core process in this new​ undertaking?

Web design

At which step would a manager develop strategic and tactical plans in the planning​ process?

When developing plans to pursue the chosen alternative

The degree to which information is relevant to the current decision being made is called information​ _______.

appropriateness

The core processes in a value chain must add value for the external​ customers, while support processes

are also part of the value chain.

Core competencies reflect the collective learning of the organization. Core competencies include

a​ well-trained, flexible workforce.

The finance function influences operating decisions about

capacity expansion.

Darren is the supervisor in a manufacturing facility that produces desks and chairs. Control of quality and output is his responsibility. To ensure that he is following the controlling​ process, after measuring the performance of his​ employees, he must​ _____, and then take any corrective action necessary.

compare measured performance to standards

How a firm undertakes strategic and tactical​ actions, and​ competitors' responses to those​ actions, is referred to as​ ________.

competitive dynamics

The ability to understand how a change in one part of the organization affects the rest of the organization is primarily​ a(n) _____ skill.

conceptual

A​ ________ process is a set of activities that delivers value to external customers.

core

Managerial activity aimed at bringing organizational performance up to the level of performance standards is called​ ________.

corrective action

A manager is concerned with the degree to which the information she has related represents what is actually occurring. This manager is primarily concerned about information​ _______.

quality

The amount of information a manager has that is​ decision-related is called information​ _______.

quantity

During the​ ________ stage of the product life​ cycle, sales are primarily based on the need to replace products.

saturation

The idea that an organization must have the information it requires soon enough that it can be used to take action and gain the related benefit is referred to as information​ _______.

timeliness


Kaugnay na mga set ng pag-aaral

Quiz: Administering Oral Medications

View Set

Chapter 1: Introduction of Marketing

View Set

<!DOCTYPE html> <html lang="en-us" class="chrome-os webkit chrome cursor"> <head><title>Flashcards Units 1-10 STEMS | Quizlet</title><link as="font" crossorigin="anonymous" href="/a/i/fonts/latin-basic/hurmegeosans-no2-400.b0d1fa6ac7268f9.woff2" rel="pr

View Set

US History Since 1877: Chapter 14

View Set