MANA Quiz

Product differentiation, low costs, and the development of new products or services are key to a company's success at which stage of the product life cycle?

d.Decline

Polani's company is a leader in the creation of mobile phone cases, and it recently has expanded to make cases for tablets and laptops. Polani's company is using related diversification. What is an advantage of this strategy for the firm?

b.Synergy

Teresita has several open positions at her firm. What could Teresita's firm offer Millennial candidates to attract them to her firm?

a.Flexibility in work arrangements

Although standards of ethics vary from person to person, how do we apply the concept of ethical behavior?

a.Generally accepted social norms

Zereth is looking for ways to increase foot traffic into her brick-and-mortar locations. She has decided to open a small coffee shop with free Wi-Fi in her store. This is an example of which type of decision?

a.Nonprogrammed

Which of the following is an advantage of unrelated diversification?

a.Organizations can allocate capital to maximize corporate performance.

Management science and operations management are the two branches of which management theory?

a.Quantitative

Supply chain management and enterprise resource planning are both management concepts that were evolved from which management perspective and use of models to solve problems?

a.Quantitative

Nour 's responsibilities include creating organizational goals and overall strategy for the organization. In terms of her level in the organization, what type of manager is Nour?

a.Top manager Middle managers are primarily responsible for implementing the policies and plans developed by top managers and for supervising and coordinating the activities of lower-level managers. Top managers create the organization's goals, overall strategy, and operating policies.

Which question should be answered by a business plan?

a.What are the entrepreneur's goals and objectives?

In light of recent ethical standards in which the boards of major companies have approved loans or bonuses to CEOs or board members, increased attention has been paid to _____.

a.corporate governance

A disadvantage of direct investment is _____.

a.greater economic risk

Manoj wants to be able to choose lenders, equipment, inventories, locations, and other aspects of his new business. When starting his business, Manoj should _____.

a.start from scratch

Which of the following is a potential drawback to the quantitative management perspective?

b.Assumptions may not be realistic.

In which way do organizations determine alternatives for working in a particular industry or market?

b.By setting business-level strategies

Which of the following statements about small businesses in the United States is true?

b.Major innovations are as likely to come from small businesses (or individuals) as from big businesses.

Jinhoon owns and manages a franchise sandwich shop and pays his employees minimum wage. Recently, his employees have met to discuss how difficult it is to live on minimum wage and to ask Jinhoon to increase the wages for all workers. Which type of decision-making element must Jinhoon now respond to?

b.Political forces

The best strategies do all of the following EXCEPT what?

b.Require resource deployment

Which of the following is true of job creation?

b.Small firms eliminate jobs at a faster rate.

Nila wants to start a new business but wants to draw in customers immediately and take advantage of established working relationships. In terms of her new business, Nila is considering _____.

b.buying an existing business

Organizations relate to their environments in ways that often involve ethical dilemmas and decisions. These situations are generally viewed within the context of the organization's _____ .

b.social responsibility

Reflecting a recent trend in small-business start-ups, the number of African American-owned businesses has increased by approximately what percent since 2007?

c.35 percent

Lack of effective control systems leads to what problem that causes businesses to fail?

c.Managers may be in serious trouble before more visible difficulties alert them.

Sabine is focusing on the processes to use to achieve her strategies and goals for the year. What is Sabine working on?

d.Strategy implementation

Zereth recently made a lateral move in the company and now oversees a new department. She has mentioned to a friend that the management style she used in her former department is falling flat with her new staff. They do not seem to respond to the same sorts of incentives, and she is looking for new ways to motivate and encourage them. Zereth's experience is consistent with which view of management?

c.The contingency perspective The contingency perspective suggests that appropriate managerial behavior in a given situation depends on, or is contingent on, unique elements in a given situation.

Which group is comprised of investors seeking to make profits on companies with rapid growth potential?

c.Venture capital companies

Math-A-Mazing requires all employees to wear something math-related to work every day. They help by providing pins, scarves, and caps printed with numbers or math signs. Employees can wear one of these items or come up with their own. According to the company, this policy makes the company a fun and exciting place to work. This management decision affects the _____.

c.organizational culture

Sabine just submitted a bid to take over the paper supply contract for a large firm in town. She knows that another firm bid as well, and only one of them will win the contract. These two firms exist in each other's _____.

c.task environment

Keane Industries is a privately owned firm that manufactures and installs large, deep well digging equipment that can be operated with little technical expertise. The company has a cash surplus due to a highly profitable decade of sales in its domestic market. Now ready to enter foreign markets, the biggest priority for the owners is to maintain full control of any new operations. What level of international business activity is Keane Industries seeking?

d.Direct investment

Since the company's founding, Petra and her top executives have provided a consistent message to employees that customers, employees, communities where the company did business, and shareholders were all important. This is an example of which type of informal organization dimension of managing social responsibility?

d.Leadership practices

Kevin started a new lawn care business. He had a lot of experience in this field before starting out on his own, he did his research and knew what services to offer at what prices, and he was willing to put in the time and effort needed to succeed. Despite all this, his business failed. What reason for success is missing from this picture?

d.Luck

In which way is crowdsourcing a solution different than using the Delphi technique?

d.Not everyone is an expert.

Based on differentiation strategy, why are customers willing to pay more for one product over a similar product?

d.Perceived extra value

In which type of strategy does an organization operate in several businesses that are somehow linked with one another?

d.Related diversification

Which of the following includes inputs, transformation processes, outputs, and feedback in a way that allows them to function as an interrelated set of elements?

d.System

Why is it critical for an organization to understand that eventually a product will go into the decline stage?

d.To stay in business

A manager who relies heavily on intuition and reaches decisions quickly has the characteristics of a person with _____.

d.a high level of risk propensity

Paramita believes that people naturally do not like work , and as a manager, she must control, direct, coerce, and even threaten her employees to get them to work toward the organization's goals. Paramita's management style is informed by which view within the behavioral management perspective?

c.Theory X

Samir is the supplies purchaser for his office. Samir's brother is a sales rep at a firm that offers a competitive price on the copier paper Samir needs to buy, so Samir did not look for a less expensive supplier. What might have occurred in this scenario?

d.Conflict of interest

What is the method by which processes are operationalized or executed within the organization?

d.Strategy implementation