Management 301

strengths, weaknesses, opportunities, and threats

SWOT analysis stands for______________. a. strengths, weaknesses, organizations, and threats b. strengths, weaknesses, organizations, and tools c. strengths, weaknesses, opportunities, and tools d. strengths, weaknesses, opportunities, and threats

cost leadership strategy

SockUp is a company that manufactures socks of different sizes, types, and colors for men, women, and children. The company aims at being the lowest-cost provider and charges slightly lower than the market price. This is an example of____________. a. cost leadership strategy b. multipoint competition strategy c. integrated leadership strategy d. differentiation strategy

utilitarian

The ___________approach to ethical decision making focuses on consequences of an action. a. universal b. utilitarian c. moral rights d. justice

plans, controls, and evaluates

The term manager refers to anyone who_______________ a. is not a member of a labor union b. is a member of an organization c. owns shares in the company d. plans, controls, and evaluates

justice

The__________approach to ethical decision making focuses on equity of processes and outcomes. a. universal b. moral rights c. utilitarian d. justice

leader

The_________role of a manager involves influencing or directing others. a. liaison b. figurehead c. leader d. monitor

renewal strategies

Troubled companies seek_______________to address serious problems. a. corporate strategies b. competitive strategies c. vertical and horizontal strategies d. renewal strategies

horizontal integration

Two movie studios combining to form one larger studio is an example of which of the following? a. diversification b. forward vertical integration c. backward vertical integration d. horizontal integration

the principles of scientific management

What is the primary legacy of Frederick Taylor? a. the concept of job enrichment b. the "hierarchy of needs" theory c. the concept of employee motivation d. the principles of scientific management

high power distance

When Maria arrived from Mexico to study in the U.S., she noticed a difference between the students in Mexico and the students in the U.S. The American students felt comfortable asking questions, they were eager to share a thought or an opinion, and in some instances they even contradicted the teacher. Maria comes from a country that has_______________. a. uncertainty avoidance b. high power distance c. individualism d. gender focus

procedural justice

Which aspect of the justice approach to ethical decision making is concerned with the impartial administration of decision-making processes? a. restorative justice b. procedural justice c. procuratory justice d. distributive justice

allocation of resources

Which of the following is a typical managerial choice? a. allocation of resources b. scheduled deadlines c. attitudes of subordinates d. legal regulations

growth, stability, renewal

Which of the following makes up the three main types of corporate strategies? a. renewal, retrenchment, diversification b. growth, retrenchment, renewal c. growth, vertical integration, horizontal integration d. growth, stability, renewal

negotiator

Which of the following roles is a decisional role? a. monitor b. negotiator c. disseminator d. spokesperson

Conceptual

_______________skills, also known as cognitive complexity, are often the major factor that determines who reaches the highest levels of the organization. a. Technical b. Decision-making c. Interpersonal d. Conceptual

Culture

______________is a learned set of assumptions, values, and beliefs that have been accepted by members of a group and that affect human behavior. a. Ethnicity b. Culture c. Nationality d. History

Collectivism

______________is the extent to which a person's identity is a function of the group(s) to which he or she belongs and the extent to which group members are expected to look after each other. a. Power distance b. Uncertainty avoidance c. Individualism d. Collectivism

Planning

_____________involves estimating future conditions and circumstances and making decisions based on these estimations. a. Planning b. Directing c. Organizing d. Controlling

Managerial ethics

____________is concerned with morality and standards of business conduct, especially among individuals. a. Organizational behavior b. Earned value management c. Social consensus d. Managerial ethics

Moral intensity

____________is the degree to which people see an issue as an ethical one. a. Social intensity b. Ethnocentricity c. Disparate impact d. Moral intensity

Management

____________is the process of assembling and using sets of resources in a goal-directed manner to accomplish tasks in an organization. a. Budgeting b. Planning c. Accounting d. Management

Interpersonal

____________roles of a manager are composed of the figurehead role, the leader role, and the liaison role. a. Negotiator b. Decisional c. Interpersonal d. Informational

Ethnocentricity

__________is the view that your perspective is correct and the views of people in other cultures are inferior. a. Regiocentricity b. Polycentricity c. Universality d. Ethnocentricity

Uncertainty avoidance

__________is when cultures differ in the extent to which they need clarity or can tolerate ambiguity. a. Individualism b. Collectivism c. Power distance d. Uncertainty avoidance

Individualism

_________is the extent to which people's identities are self-oriented and people are expected to take care of themselves and their immediate families. a. Power distance b. Individualism c. Uncertainty avoidance d. Collectivism

primary and support activities

A firm's value chain consists of_______________. a. primary and secondary activities b. regional and global activities c. primary and support activities d. observable and surreptitious activities

ethical dilemma

A(n)_______________involves having to make a choice between two competing but arguably valid options. a. cognitive bias b. ethical lapse c. ethical dilemma d. fallacy

code of ethical conduct

A(n)______________is a formal settlement that outlines types of behaviors that are and are not acceptable. a. performance report b. mission statement c. code of ethical conduct d. internal control

stakeholder

A(n)_____________is an individual or group that has an interest in and is affected by the actions of an organization. a. cohort b. accommodator c. social consensus d. stakeholder

strategic vision

A(n)____________provides a view of the firm over the long term and what it should achieve in the future. a. multipoint competitive analysis b. annual report c. strategic vision d. differentiated leadership strategy

power distance

According to Hofstede, _____________Is the extent to which people accept power and authority differences among people. a. individualism b. power distance c. gender focus d. uncertainty avoidance

utilitarian

An executive who justifies paying a bribe because it allows his company to provide the greatest good for the greatest number of people adheres to the______________approach to ethical decision making. a. universal b. utilitarian c. moral rights d. justice

a company's opportunities and threats

An external analysis, the second step of the strategy management process, helps identify________________ a. the long-term goals of a company b. a company's opportunities and threats c. the products that a company makes d. a company's concern for its employees

integrated differentiation-cost leadership strategy

Campacola is a soda company that is seeking to enter the market by introducing an unusual line of sodas that contain granulas that pop in the mouth. It intends to sell these sodas at no greater cost than normal sodas. What strategy is the company using in entering the soda market? a. focused differentiation strategy b. integrated differentiation-cost leadership strategy c. multipoint differentiation strategy d. cost leadership strategy

focused differentiation strategy

Ferrari differentiates its products based on style and performance and targets a narrow segment of customers. Ferrari is pursuing a(n)_______________. a. focused differentiation strategy b. focused cost leadership strategy c. multipoint competition strategy d. integrated differentiation-cost leadership strategy

exporting goods

For smaller firms and for firms entering into foreign markets,____________is the most common way to enter an international market. a. cross-border acquisition b. creating strategic alliances c. exporting goods d. licensing arrangements

concentration

General Mills expanding its line so that it sells several different types of Cheerios is an example of which of the following? a. vertical integration b. concentration c. diversification d. horizontal integration

vertical integration, horizontal integration, concentration, diversification

Growth strategies include_________________. a. integration, renewal, horizontal diversification, vertical diversification b. vertical integration, horizontal integration, lateral integration, horizontal concentration c. vertical integration, horizontal integration, concentration, diversification d. diversification, concentration, integration, stabilization

corporate-level

In the process of strategic management, the___________strategy determines what business or businesses the firm wishes to operate. a. unit level b. business-level c. functional d. corporate-level

organizing

Of the four major functions of a manager, _______________involves systematically integrating resources to accomplish tasks. a. planning b. directing c. auditing d. organizing