AESHM 287 - Learning Quizzes
Demographic trends and market diversity are part of which element of PESTEL?
Sociocultural
For ABC Products, to launch a new product is an example of which of these?
Strategic objectives
Which of the following saw the reintroduction of classical knowledge and the emergence of new knowledge and learning, much of which had economic and business implications?
The Italian Renaissance
Which is true about the educational program offered by GAP in India?
The program provides technical training that workers need to advance at work and in life
Why was Amazon Go being criticized as "the next major job killer" by the New York Post?
Their business strategy could potentially eliminate the check-out positions across the retail industry
PESTEL, Porter's Five Forces, and Resources and Capabilities are three important strategic analysis tools managers can utilize in formulating the strategies.
True
The mission statement takes the why of a vision statement and gives a broad description of how the firm will try to make its vision a reality.
True
According to the video, what is the most interesting part about the Amazon Go business strategy?
Using computer system automated technology, consumers can buy items without waiting in line to check-out.
Which of the following represents a consequentialist, "ends justifies means" approach?
Utilitarianism
According to Hofstede, which of the following is an implication of high-power distance?
Very centralized organizational structure
"W" in the SWOT analysis stands for _____.
Weaknesses
All of these questions are answered by the Porter's 5 Force tool EXCEPT:
What sociocultural trends provide opportunities for my business?
Which of the following profile of an organization emphasizes creating, innovating, visioning the future, managing change, risk-taking, rule breaking, experimentation, entrepreneurship, and uncertainty?
adhocracy culture
what are the 5 basic tasks of a manager as suggested by Mr. Drucker?
sets objectives, organizes, motivates and communicates, measures, and develops people
Which of the following describe the degree to which social benefits are unequally distributed and those patterns are perpetuated for life?
social stratification
a deliberate reduction of productivity on the part of the worker is called
soldiering
Which of the following describe the beliefs and behaviors that determine how a company's employees and management interact inside an organization and also handle outside business transactions?
Corporate culture
According to Hofstede, which of the following is an implication of high individualism?
Employee-employer relationship based on the market
Sam, marketing manager at ABC Products, argues that XY Products, their biggest competitor is spending more on marketing than ABC. XY have a larger share of the market. Therefore, ABC should spend more on marketing. This argument represents which of the following fallacies?
Non sequitur
According to the video, which part of the business plan explains your company's goals, objectives, timeline, and procedures?
Operational Plan
Which of the following is NOT one of Weber's principles of the ideal bureaucracy?
Personal authority
According to the article, which CEOs mission statement indicates the importance of having fun in life?
Richard Branson
According to the video, what is step 5 in a business plan?
SWOT analysis
which of the following describe a steadfast devotion to improving the welfare of others?
Altruism
According to the article, which theory built on Taylor's theory and argued that chains of command and standardization are important?
Bureaucratic Management Theory
When a leader is not able to see inconsistencies among values he say he follows, it refers to which of these symptoms of the failure of ethical leadership?
Ethical incoherence
When a leader can "talk the talk" but do not "walk the talk" on values, it refers to which of these symptoms of the failure of ethical leadership?
Ethnical muteness
businesses close down for many reasons. Which of the following is NOT a typical reason for a business failure?
Expenses were lower than the owner expected.
According to the video, which does PESTEL help you analyze?
External Environment
Community relations and external consulting are self-described activities of a manager's responsibilities.
False
Taylor's major contribution was that he prized tradition and rules of thumb over knowledge and science
False
According to the article, which of the following is NOT listed as someone to talk to about a company's reputation?
Government Authorities
How does H&M ensure that all the factories are following their code of conduct?
H&M regularly audits all the factories to assess their level of compliance
According to the video from Christie's, why was Renaissance mathematician Luca Pacioli important to the history of management?
He created the double-entry booking system
"I" in VRIO refers to which of these?
Imitation
Small Business Investment Companies (SBICs)
are accurately described by all of the above (are licensed by the SBA, own to earn revenue from their investments in small businesses, provide long-term financing for small businesses, are privately owned and management investment companies)
Which of the following leadership profile describe degree to which the leader reflects independent and individualistic leadership, according to the GLOBE project?
autonomous
Why should making it to work on time be one of your top priorities?
being late for work will give a bad impression to our colleagues
Which of the following leadership profile describe the degree to which the leader can inspire and motivate others, according to the GLOBE project?
charismatic
When Art Baer read that Singapore would lift its ban on chewing gum, he thought to himself, "There has to be a market there." Baer, 26, knew if he was going to move beyond the daydreaming stage, he had to move fast. After investing $20,000 of his own money into developing a product he called Impress Gum, Baer quit his job, flew to Singapore, talked to the right people in the government, lined up a manufacturer, and hired a marketing firm to promote his gum, which fights tooth decay. Baer is an example of a(n) ______ entrepreneur.
classic
what is it meant by "dress appropriately" at work?
clothing should be neat, clean and follow the company's dress code
According to the video, which of the following is the idea that you are responsible for a society as a whole?
collectivism
ABC Products is described as having a _______ when it successfully attracts more customers, earns more profit, or returns more value to its shareholders than rival firms do.
competitive advantage
Which of the following describe conditions when we tend to pay more attention to information that agrees with our existing beliefs and less attention to information that is contrary to our beliefs?
confirmation bias
_____ occurs when one assumes that all people within a culture act, think, and behave the same way
cultural stereotyping
Which term defines the collective programming of the mind which distinguishes the member of one group or category of people from another?
culture
______ financing is a form of business financing consisting of borrowed funds that must be repaid with interest over a stated time period
debt
which of the following is a trend that is changing the face of entrepreneurship and small business ownership?
entrepreneurial diversity
the tendency of decision makers to remain committed to poor decision, event when doing so leads to increasingly negative outcomes refers to
escalation of commitment
Which of the following are at the top of the hierarchy and are responsible for the entire organization, especially its strategic direction?
executive managers
A positive aspect of opening a small business is that it takes a very little management skill because it is small
false
According to universalism is a principle, an action is morally right if the net benefits over costs are greatest for all affected compared with the net benefits of all other possible choices.
false
Established small businesses are defined as companies that have been in business at least 15 years and employ between 50 to 500 employees
false
Ethical relativism is defined as the ability to influence followers to achieve common goals through shared purposes.
false
In societies with low power distance, people are more likely to accept that power inequality is good and acceptable.
false
The top managers in organizations prefer to deal with the steps of strategic management one at a time to be able to provide the necessary attention to details.
false
effective decision-making relies on logic and not emotions
false
it is not advisable for small businesses to use the services of CPAs and lawyers because most businesses are too small to afford the expense
false
Which of the following is the most used organizational design?
functional structure
Which of the following is an inclusive concept that involves all outside factors and influences that impact the operation of a business that an organization must respond or react to in order to maintain its flow of operations?
general environment
Which two elements in emotional intelligence represent toggling back and forth between emotions and logic so that we analyze and understand our own emotions and then exert the necessary control to manage them as appropriate for the situation?
self-awareness and self-regulation
venture capital:
is financing obtained from investment firms that specialize in financing small, high-growth companies
According to the article, why was the industrial revolution important to modern management?
it allowed companies to grow larger
As a division manager at KB Foods (KBF), Michelle maintains information links both inside and outside KBF. According to Mintzberg, this represents _____ role
liasion
A firm's ______ environment contains elements that can impact the firm but are generally beyond its direct control. These elements are characteristics of the world at large and are factors that all businesses must contend with, regardless of the industry they are in or type of business they are.
macro
According to the article, what is the current trend of American companies in China?
market share is decreasing
Which task is also referred to as the "integrating" function of the manager?
motivating and communicating with employees.
Which dimension of cultural intelligence reflects the ability and desire to continuously learn new aspects of cultures and adapt to them?
motivational dimension
_____ are entrepreneurs who start a series of companies
multipreneurs
buying a house can be described as which of these?
nonprogrammed decision
____ refers to the field of ethics concerned with our asking how should and ought we live and act.
normative ethics
Which of the following describe the only two cultural dimensions unique to the GLOBE project?
performance orientation and humane orientation
From a value chain perspective, _____ are the actions a firm takes to directly provide a product or service to customers, whereas, ______ are actions required to sustain the firm that are not directly part of product or service creation.
primary activities; support activities
According to Hofstede, which of the following is an implication of high uncertainty avoidance?
rational championing
The role of ____, according to Mintzberg, involves managers making decisions about who gets what, how much, when and why
resource allocator
Amani is the newly hired manager at MyCoffee, a global coffee roasting company. As part of her responsibilities, Amani often gives interviews to media outlets and speeches to community organizations. Amani is playing the role of a
spokesperson
A _____ strategy is a strategy for a company to maintain its current income, market share, or geographic reach.
stability
Which term describes the set of activities that firm managers undertake in order to try to put their firms in the best possible position to compete successfully in the marketplace?
strategic management process
According to the article, which of the following will likely have the most negative view of employees? Correct!
theory X
According to the article, why did McDonald's have a relatively more difficult time in China?
they weren't as aggressive at adapting their dishes for the Chinese consumer
In the video, they mentioned the idea of your colleagues trying to compete with you for the same projects or promotions. You should categorize this as which of the following?
threat
Companies and organizations change leadership and strategies and make structural and systems changes to meet changing competition, market forces, and customers and end users' needs and demands.
true
Ethical relativism holds that people set their own moral standards for judging their actions
true
Identifying and separating terminal from instrumental values in any given situation can assist individuals, groups, and work units in distinguishing between the "ends (goals) from the means (methods to reach the goals)" and vice versa in making decisions, thereby helping us choose more ethical options—or at least less unethical ones—in situations.
true
Our choices and decision-making processes and our moral principles and values that govern our behaviors regarding what is right and wrong are also part of ethics.
true
The major difference between scientific management and human relations theory was that humans relations theory recognized that social factors were a source of power in the workplace
true
entrepreneurs are people with vision, drive, and creativity, who are willing to take the risk of starting and managing a business to make a profit
true
the two source for debt financing are angel investors and venture capitalists
true
According to the video, a culture that tries to minimize risk and have strong control of their future are representative of this idea.
uncertainty avoidance
According to the video, this helps you assign the comparable importance of each of the PESTEL components.
weighted averages