MGMT Module 1 Exam

Outsourcing

A decision by a corporation to turn over much of the responsibility for production to independent suppliers.

importance of operations

-creates value and utility through the production of products and services

Which trade agreement practices the use of most favored nation principle, where members of the agreement receive preferential treatment? a. World Trade Organization (WTO) b. European Union c. General Agreement on Tariffs and Trade (GATT) d.Pacific Asia e. North American Free Trade Agreement (NAFTA)

General Agreement on Tariffs and Trade (GATT)

To increase sales of bread mixes, the marketing department developed a discount coupon that is placed on the outside of each bread mix box. Which type of plan was this? a. strategic b. standing c. contingency d. single use e. operational

operational

When training new salespeople, Dezmon teaches the employees a step-by-step process, and the sequence of activities, for qualifying prospects and arranging credit. What does Dezmon use to facilitate this process so he is certain the correct steps are followed in the correct order, every time? a. project plan b. policy c. standard operating procedure d. rule and regulations e. single-use plans

standard operating procedure

Canine Companions for Independence trains service dogs. Every two months a new batch of eighteen-month-old dogs arrives at regional headquarters from the puppy raiser volunteers. The dogs begin six months of advanced training before they are placed with a person. Training the dogs requires ____ as the dogs practice the commands. a. projects b. multiple-use plans c. standard operating procedures d. single-use plans e. agendas

standard operating procedures

facilities

locations where products or services are created

product layout

configuration of facilities arranged around the product

service organization

transforms resources into an intangible output and creates time or place utility for its customers i.e hair salon, dog walker

cellular layouts

used when familes of products can follow similar flow paths

Flexible Manufacturing System (FMS)

uses computers to move materials from one part of the system to another

What is meant when we say managers must be efficient? a) successfully implementing decisions b) using resources wisely and cost-effectively c) completing all work on time d) making the right decision at the right time e) carrying out The Management Process (What do Managers Do?)

using resources wisely and cost-effectively

Strategic Planning

Broad, long-range planning usually conducted by top management.

Which economy has become the second largest economy in the world, behind the United States? a. the World Trade Organization b. the Middle East c. the European Union d. China e. India

China

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 Sam did not look for a less expensive supplier. What might have occurred in this scenario? 1.violation of the code of ethics 2.whistleblowing 3.violation of the Sarbanes-Oxley Act 4.conflict of interest 5. procedural justice

Conflict of interest

When employees work remotely, conference calls and emails can be used to check on employee availability and productivity. This is part of the ____ function of management. a) coordinating b) planning c) organizing d) controlling e) leading

Controlling

The strategic goal set forth by Central Ice Machine Company was to be the leading seller of ice machine replacement parts in the United States. As part of its ____ plan, it set up distribution contracts with six manufacturers of refrigeration units.

Tactical

Product/Service mix

How many and what kinds of products or services (or both) to offer

Destani's is setting up a training program for all managers who interview candidates and make hiring decisions to ensure they follow all local, state, and federal laws in all areas, from ADA compliance determining correct knowledge, skills, and abilities needed for the job. Destani is ensuring the firm's hiring practices follow guidelines for ____. a. social responsibility b. legal compliance c. ethical compliance d. social responsibility e. whistleblowing

Legal compliance

U.S. managers have the least difficulty operating in ____ economies. a.market b.communist c.industrializing d. developing e. pure competition

Market

Which type of economy is based on the private ownership of business?

Market economy

International managers ____. a. have a minimal understanding of environmental issues b. need to organize to implement their plans c. are not required to develop control mechanisms d. make few decisions as most are made at the local level e.do not interact with those who are lower in the hierarchy

Need to organize to implement their plans

Rajiv just completed a project in which he determined goals for each of his employees and projects, and how best to achieve them. Rajiv is engaged in ____. a) planning b) managing c) organizing d) leading e) controlling

Planning

Robotics

Technology dealing with the design, construction, and operation of robots in automation.

Management can best be defined as ____. a) The ability to be reliable and complete all tasks in a timely manner b) people working together to achieve a set of goals c) making the right decisions and successfully implementing them d) the set of processes used to get members of the organization to work together e) achieving organizational goals in an efficient and effective manner

achieving organizational goals in an efficiency and effective manner

You just wrote a short-range plan in support of an intermediate plan. You based this plan on your best estimate of future environmental conditions. What kind of plan did you write? a. contingency b. standing c. action d. reaction e. functional

action

Although standards of ethics vary from person to person, how do we apply the concept of ethical behavior? a. as generally accepted social norms b. as norms that guide managers in their tasks c. as a type of procedural justice as behaviors that do not create d. conflicts of interest e. based on a formal code of ethics

as generally accepted social norms

ethical behavior

behavior that conforms to generally accepted social norms

unethical behavior

behavior that does not conform to generally accepted social norms

Social Orientation

beliefs about the relative importance of the individual versus groups to which that person belongs

Which of the following is a problem associated with the implementation of a direct investment strategy? a. complexity of decision making b. sharing of profits c. loss of managerial control d. inability to purchase the brand identification of a product e.having to develop an organizational infrastructure

complexity of decision making

Which of the following refers to using resources wisely and in a cost-effective way? effectiveness b) complexity c) reliability d) pervasiveness e) efficiency

efficiency

Opponents to the maquiladoras concept are most critical of its ____. a. high production cost b. exploitation of human resources c. legality d. waste of raw materials e. high transportation costs

exploitation of human resources

In the National Football League, the ticket revenues are ____ resources. a) human b) informational c) physical d) competitive e) financial

financial

In the National Football League, the promotional ads are ____ resources. a) competitive b) physical c) financial d) human e) informational

informational

Which of the following is a criticism of regulation? a. It is not applicable to small companies. b. Its functionality is enhanced by the use of political action committees. c. It is not strictly enforced by the government. d. Its goals can be accomplished by a free market system. d. It is not consistently applied in all industries.

its goals can be accomplished by a free market system

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 what type of informal organization dimension of managing social responsibility. a. legal compliance b. whistleblowing c.philanthropic giving d. leadership practices e. global citizenship

leadership practices

When we identify strategic, tactical, and operational goals, we are classifying them by ____. a. area b. specificity c. time frame d. purpose e. level

levelthe

Which type of economy is based on the private ownership of business? a. market system b. high potential/high-growth c. market economy d. mixed models e. communism

market economy

fixed position layouts

physical configuration of facilities arrangedaround a single workk area

People in the United States, Israel, and Ireland are likely to question their supervisors. This is referred to as a(n) ____ orientation. a. individualistic b. power respect c. aggressive goal behavior d. power tolerance e. collective

power tolerance

Which of the following is a typical characteristic of a market economy? a. high levels of trade b. private ownership c/ high potential for growth d. mixed models of resource allocation e. high levels of profitability

private ownership

The exact description of how specific activities are to be carried out would be found in which type of plan? a. project b. policy c. standard operating procedure d. rule and regulations e. single-use plans

rule and regulations

service technology

services are rapidly moving toward automated systems and procedures

Operational Goals

set by first-line managers and are concerned with short-term matters associated with realizing tactical goals

Tactical goals

set by middle managers; focus on the actions needed to achieve strategic goals (5yrs)

strategic goals

set by top management; focuses on objectives for the organization as a whole (10yrs)

People in the U.S., Canada, and the Netherlands tend to believe that the importance of the person comes before the importance of the group. This refers to Hofstede's ____ orientation. a. power b. goal c. social d. time e. uncertainty

social

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 ____. a. ethical norms b. social responsibility c. financial standards d. legal compliance e. Accommodative stance

social responsibility

Managerial Ethics

standards of behavior that guide individual managers in their work

Mission Statement

states the purpose of an organization

computer-aided design (CAD)

the use of computers in the design of products

Executives at Lululemon Athletica have just written a plan to develop and fund a new product line. This will give them a competitive advantage and the new product line will have a synergistic effect when combined with current products. What kind of plan is this? a. strategic b. standing c. contingency d. tactical e. operational

strategic

Which type of plans are the broad plans developed by top managers and the board of directors to guide the general direction of the organization? a. tactical b. contingency c. operational d. single-use e. strategic

strategic

Kinds of Organizational Plans

strategic, tactical, operational, and contingency

Plans that have an intermediate time horizon and are concerned with getting things done are called ____ plans. a. strategic b. standing c. contingency d. tactical e. operational

tactical

The strategic goal set forth by Central Ice Machine Company was to be the leading seller of ice machine replacement parts in the United States. As part of its ____ plan, it set up distribution contracts with six manufacturers of refrigeration units. a. strategic b. tactical c. long-range d. contingency e. integrated

tactical

capacity

the amount of products or services that an organization can produce in a given time

Manufacturing

A form of business that combines and transforms resources into tangible outcomes that are then sold to others

Operations Management

A specialized area in management that converts or transforms resources (including human resources) into goods and services.

Computer assisted manufacturing (CAM)

A technology that relies on computers to design or manufacture products

Which of the following is true of social responsibility? a. It is enforced only by small organizations. b. The opinions about its importance varies for different countries. c. It avoids ethical dilemmas and decisions. d. It is mandatory by law. e. All developed nations work toward the same social goals.

the opinions about its importance varies for different countries

Ethics

the principles of right and wrong that guide an individual in making decisions

automation

the process of designing work so that it can be completely or almost completely performed by machines

tactical planning

the process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done

Contingency Planning

the process of preparing alternative courses of action that may be used if the primary plans don't achieve the organization's objectives

Operational Planning

the process of setting work standards and schedules necessary to implement the company's tactical objectives

Which is an example of a physical resource needed to operate the company that produces Kenny's Cajun Popcorn, a "low-calorie snack with a high-voltage flavor"? a) accountants and financial information b) customers c) a marketing campaign d) an industrial-size popcorn popper e) the help of family members who serve as taste-testers

the help of family members who serve as taste-testers

The inclusion of a biologist in decisions that affect the local community is an example of action in which area of social responsibility? 1. general social welfare 2.the natural environment 3.legal compliance 4.the task environment 5. the internal cultural environment

the natural environment

The local university has set up a task force and committed to increasing recycling efforts, and reducing its carbon emissions by 50% in the next ten years. These efforts demonstrate a commitment to ____. a.emerging ethical issues b. corporate governance c. social responsibility d. legal compliance e. ethics in the environment

social responsibility

standard operating procedures

Written, step-by-step instructions for routine tasks.

benchmarking

a process by which a company compares its performance with that of high-performing organizations

The primary purpose of The Management Process (What do Managers Do?) is to ____. achieve organizational goals efficiently and effectively b) develop organizational goals and make logical decisions c) ensure that all employees are working together effectively d) make sure things go as planned e) organize the various functions in a logical manner

achieve organizational goals efficiently and effectively

Which of the following statements BEST reflects the relationship between management and leadership? a) Both leadership and management are part of controlling. b) Management and leadership are the same thing. c) Leadership is only one part of management. d) Management is only one part of leadership. e) Leadership and management are unrelated concepts.

leadership is only one part of management

Any effort to enhance an organization's ethical behavior must begin with ____. a. the appointment of an ombudsman b. a review of the internal environment c. the development of a formalized code of ethics d. a modification of the ethical codes of employees who interact with stakeholders e. the support of top management

the support of top management