MGMT 3000

Identify the country that is represented by NAFTA.

a. United Kingdom b. Zimbabwe c. Costa Rica d. Mexico (d)

A firm's task environment includes:

a. owners and the board of directors. b. competitors, suppliers, and customers. c. employees and culture. d. economic and socio-cultural factors. (b)

The human relations movement emphasized the importance of informal social relations at work.

True

Which of the following best describes the managerial view on the purpose of business?

a. A business framework where the job of top managers is to produce the highest possible stock market valuation of the firm's assets b. A business framework that attempts to organize and analyze multiple groups that interact with the firm c. A business framework where organizational structure is based on fit between the organization and various aspects in its environment d. A business framework where the firm is seen as a mechanism for converting raw materials into products to sell to customers (d)

Which of the following individuals is a best example of a frontline supervisor?

a. A person who, along with other senior executives, develops the organization's strategy using conceptual skills b. A person who develops and motivates his team using interpersonal skills c. A person who focuses on technical issues to ensure that operations are running smoothly d. A person who sets the vision and objectives of an organization (c)

The fourth largest regional trading group, MERCOSUR, comprises the countries of:

a. Argentina, Brazil, Paraguay, Uruguay, and Venezuela. b. Bahrain, Kuwait, Oman, and Qatar. c. Canada, Mexico, and United States. d. Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. (a)

Harry, a top manager of an organization, clearly differentiated the tasks and responsibilities of his employees. Moreover, he emphasized that top level executives should do the planning and the lower level executives should execute those plans. Identify the management technique used by Harry.

a. Bureaucratic organization structure b. Human relations movement c. Scientific management d. Contingent view (a)

Which of the following countries is one of the original members of ASEAN?

a. Canada b. Philippines c. Guatemala d. Nigeria (b)

Which of the following entities belongs to the general environment of an organization?

a. Culture b. Technology c. Customers d. Employees (B)

Which of the following is a significant factor in building contextual intelligence?

a. Developing appreciation and awareness of history b. Emphasizing the importance of informal social relations at work c. Converting raw materials into products to sell to customers d. Developing standardized rules and procedures (a)

Which of the following is one of the primary goals of ASEAN?

a. Eliminating tariffs among countries b. Easing travel of citizens and goods c. Creating a single financial market d. Ensuring peace and stability (d)

Which of the following best describes environmental scanning?

a. Forecasting and scanning the likely result that might occur when several events and stakeholders are linked together b. A tool where key variables are monitored and modeled to help predict a change that might occur in the environment c. The ability to understand the impact of environmental factors on a firm and the ability to understand how to influence those same factors d. A tool that managers use to scan the business horizon for key events and trends that will affect the business in the future (d)

The _____ was formed to deal with the rules of trade between nations and is responsible for negotiating and implementing new trade agreements and policing member countries' adherence to them.

a. General Agreement on Tariffs and Trade b. World Trade Organization c. Association of South East Asian Nations d. European Union (b)

Which of the following questions is addressed by the organizational perspective of management?

a. How should a business compete? b. How will performance be measured? c. What strategy will allow a firm to adapt as the context evolves? d. How do managers use power and influence? (b)

Which of the following is a best example of Hofstede's small versus large power distance dimension?

a. In an organization, it was mandatory for managers to make decisions by giving more importance to the future than the present. b. The members of a particular society often prefer more rules and structure and are incapable to adapt to quick changes. c. The host country employees of an organization prefer to unquestionably abide by the rules of the top management. d. People in Erbia believe that competition, ambition, and accumulation of wealth are typical masculine qualities. (c)

_____ refers to the integration and interdependence of economic, technological, socio-cultural, and political systems across diverse geographic regions.

a. Innovation b. Globalization c. Proliferation d. Competition (b)

Which of the following statements best describes scientific management?

a. It focuses on how jobs, work, and incentive schemes could be designed to improve productivity using industrial engineering methods. b. It involves a clear differentiation of tasks and responsibilities among individuals and coordination through a strict hierarchy of authority and decision rights. c. It holds the belief that organizations must be understood as systems of interdependent human beings who share a common interest in the survival and effective functioning of the firm. d. It is a view of the firm where effective organizational structure is based on fit or alignment between the organization and various aspects in its environment. (a)

Which of the following statements about the various trade agreements is true?

a. MERCOSUR seeks to create an economic juggernaut in United Kingdom. b. CACM comprises the countries of Canada, Mexico, and the United States. c. ASEAN's primary goal is to promote social and cultural development. d. NAFTA was originally known as the European Coal and Steel Community. (c)

Identify the trade agreement that created a single market by a system of laws that apply in all member states, guaranteeing the freedom of movement of people, goods, services, and capital.

a. North American Free Trade Agreement b. Economic Community of West African States c. European Union d. Central American Common Market (c)

Which of the following trade agreements does Costa Rica belong to?

a. North American Free Trade Agreement b. Gulf Cooperation Council c. European Union d. Central American Common Market (d)

Which of the following statements is true about the dimensions of internal environment?

a. Owners serve as an intermediate group for shareholders. b. Employees cannot directly impact a firm's competitive position. c. Legal control of an organization is maintained by the board of directors. d. Cultures at firms develop over a long period of time. (d)

Which of the following is the best example of Hofstede's long- versus short-term orientation dimension?

a. People in Erbia believed that competition, ambition, and accumulation of wealth are typical masculine qualities. b. The members of a particular society often prefer more rules and structure and are incapable to adapt to quick changes. c. In an organization, it was mandatory for managers to make decisions by giving more importance to the future than the present. d. The host country employees of an organization prefer to unquestionably abide by the rules of the top management. (c)

Which of the following refers to the systematic assessment of the external environment to prepare for a possible range of alternative futures for the organization?

a. Scenario building b. Trend analysis c. Contingency planning d. Environmental scanning (c)

Which of the following statements is true about businesses and their leaders?

a. Some leaders focus their efforts on lobbying to influence the government's role in business. b. Businesses and their leaders often operate in isolation. c. Business leaders are often reactive to their changing environment but not proactive in adapting their strategies accordingly. d. Successful business leaders usually do not try to influence the global business environment. (a)

Henry, a manager of an automobile company, wants to know about the influence of various environmental factors on his organization and its stakeholders. He needs an appropriate tool to carry out this function, which in turn will help him predict stakeholder response. Which of the following tools will best serve this purpose?

a. Stakeholder mapping b. Scientific management c. Strategic positioning d. Trend analysis (d)

_____ is a business framework that attempts to organize and analyze multiple groups that interact with the firm.

a. Stakeholder view b. Contingent view c. Shareholder view d. Managerial view (a)

After hiring a consultant, a senior management team realized that the organizations's structure did not enable proper usage of its resources and the culture was not reinforcing employee performance. Which of the following pillars of management has the organization failed to consider?

a. Strategic positioning b. Organizational design c. Individual leadership d. Organizational climate (b)

Z-Gadget organizations often face opposition when they go into a community to open a new Z-Gadget store. One reason for this is that the management of Z-Gadget has been accused of unethical acts such as discriminating against women and minorities. The top manager's poor treatment of women and minority employees might be considered a failure with respect to what area of management?

a. Strategic positioning b. Organizational design c. Individual leadership d. Shareholder value (c)

"How does the competitive landscape shape the potential for success or failure?" Which of the following pillars of management addresses this question?

a. Strategic positioning b. Organizational design and structure c. Individual leadership d. Shareholder value (a)

Which of the following is the most important skill of a middle manager?

a. Technical skills to earn credibility of his/her team b. Interpersonal skills such as motivating and developing teams c. Setting vision and objectives for the organization d. Conceptual skills for developing organization's strategy (b)

Which of the following entities belongs to the internal environment of an organization?

a. Technology b. Suppliers c. Employees d. Customers (c)

Which of the following statements about the three pillars of management is true?

a. The interaction between the three pillars of management is a linear process. b. The strategic perspective involves developing and aligning the organizational components to achieve strategic objectives. c. The interplay of strategy, organizational design, and individual action operates within a broad contextual landscape. d. Individual leadership addresses the impact of globalization on competitive positioning of a business. (c)

The members of a particular society in Rhodia often find it hard to adapt themselves to the changing situations. Therefore, they prefer to follow standard rules and procedures in an attempt to reduce the occurrences of any anxiety causing situations. Which of the following Hofstede's social dimensions is described in the above example?

a. Uncertainty avoidance b. Long- versus short-term orientation c. Small versus large power distance d. Individualism versus collectivism (a)

Which of the following countries was admitted to MERCOSUR in 2012 and is likely to increase the importance of fuel trade both within and outside the region?

a. Venezuela b. Argentina c. Paraguay d. Brazil (a)

Of the three main principles of GATT, the most favored nation principle meant that:

a. a tariff rate granted to one member of GATT would be extended to all members. b. foreign firms would be subject to the same rules and regulations as a country's domestic firms. c. trade disputes would be settled by the unanimous agreement of all parties to the dispute. d. countries should specialize in producing goods for which they have the lowest opportunity cost of production. (a)

Through _____, senior leaders of a corporation meet with business unit managers to assess progress toward specific goals.

a. contingency planning b. scientific management c. strategic review process d. scenario building (c)

The responsibility of James and Henry in an organization is to direct and oversee managers to ensure that the jobs are properly done. Both were elected by the shareholders of the organization to serve as an intermediate group. From this scenario it can be inferred that James and Henry are the _____ of the organization.

a. employees b. board of directors c. institutional shareholders d. owners (b)

The factor that distinguishes human relations movement from scientific management is that human relations movement:

a. focuses on how jobs could be designed to improve productivity. b. emphasized the importance of informal social relations at work. c. views the firm as a machine and the manager as a machine operator. d. shifted emphasis from the social side of the firm to the output of the firm.

The first step of stakeholder mapping process involves:

a. identifying specific subgroups within each stakeholder. b. mapping all of the stakeholder relationships with the firm. c. determining stakes for each stakeholder. d. mapping connections between various stakeholders. (b)

The factor that distinguishes leadership from management is that:

a. leadership focuses on planning and budgeting. b. leadership is the act of working with people to accomplish a desired goal. c. leadership involves budgeting, controlling and staffing resources. d. leadership is the ability to drive change through motivation. (d)

With regard to managing uncertainty, high uncertainty requires:

a. less vigilance of contextual forces and less adaptation. b. stronger vigilance of contextual forces and less adaptation. c. less vigilance of contextual forces and more adaptation. d. stronger vigilance of contextual forces and more adaptation. (d)

According to the _____ view of the firm, the job of top managers was to produce the highest possible stock market valuation of the firm's assets.

a. managerial b. stakeholder c. contingent d. shareholder (d)

According to the contingent view:

a. organizations must be understood as systems of interdependent human beings. b. jobs must be designed to improve productivity using industrial engineering methods. c. coordination should take place through a strict hierarchy of authority. d. the organization's structure should fit the firm's environment. (d)

To remain competitive, companies:

a. shouldn't be proactive to its changing environment. b. should not try to influence the global business environment. c. can no longer sell exclusively in their domestic markets. d. should not make any attempts to expand globally. (c)

Sam, the top manager of TechPark, decides to expand his business globally and creates a new market in Erbia, a neighboring country. Eventually, the company faces issues related to unskilled labor and poor resource positions such as unreliable highway systems and improper communication networks. From this scenario it can be inferred that Sam failed to focus on the _____ dimension of the external environment affecting business.

a. socio-cultural b. political c. legal d. economic (d)

Forecasting the likely result that might occur when several events and stakeholders are linked together is known as _____.

a. strategic review process b. environmental scanning c. scenario building d. contingency planning (c)

Culture belongs to the _____ environment of an organization.

a. task b. economic c. internal d. general (c)

John is a top executive in an organization. He is involved in developing and improving the organization's strategy by working along with other senior executives. From this scenario, it can be inferred that John uses _____ of management.

a. technical skills b. conceptual skills c. interpersonal skills d. behavioral skills (B)

Fine Electronics, a manufacturing company, plans to secure new suppliers in Rhodia. Therefore, the manager of the company and his executives visit Rhodia to better understand its culture and explore opportunities. This shows that the manager of Fine Electronics is using _____ to make strategic changes.

a. technical skills b. contingency approach c. contextual intelligence d. scientific management (c)

The factor that distinguishes an internal environment of an organization from an external environment is that:

a. the internal environment consists of the general environment and the task environment. b. the internal environment includes owners, the board of directors, employees, and culture. c. the internal environment includes entities that directly affect a firm on a continuous basis. d. the internal environment consists of the technological, economic, and socio-cultural factors. (b)

The factor that distinguishes owners from the board of directors is that:

a. the owners serve as an intermediate group for shareholders. b. the owners maintain legal control of the organization. c. the owners are charged with overseeing the general direction of the firm. d. the owners are elected by the shareholders. (b)

Frontline supervisors in an organization tend to focus on tasks such as financial reporting, planning, recruiting of talent, and team development. (t/f)

false

Management is defined as the ability to drive change and innovation through inspiration and motivation. (T/f)

false

Managerial view is a business framework where the job of top managers is to produce the highest possible stock market valuation of the firm's assets.

false

Managers generally face lesser uncertainty when many contextual forces impact an industry and when these same forces are constantly changing.

false

The interaction between the formulation of strategy, the design of the organization, and the leadership of the firm is a linear process.(t/f)

false

A stakeholder is any group or individual who can affect or is affected by the achievement of an organization's purpose.

true

Bureaucratic organization structure involves vertical separation of planning and execution so that plans are made in the upper ranks of an organization and executed in the lower. (t/f)

true

Conceptual skills consume more of a top executive's time, while technical skills are more important for new employees and frontline supervisors.(t/f)

true

To be successful, organizations need to develop and nurture managers and leaders throughout the organization, not just at the top. (t/f)

true