BUS 112
34. Which of the following is an example of the "curse of knowledge"?
A developer of iPhone apps develops several apps.
51. During weekly conference calls, Mary, a restaurant manager for a national chain of restaurants, and the other managers in her district explain to their district manager the reasons for different decisions; they also explain why certain costs and sales were higher or lower than they were the previous week. ___________________ is the explanation of their decisions and work results.
Accountability
5. Dave, a graphic designer with Development Advertising, enjoys working for the company because of the flexibility of its management and its culture, which encourages risk taking, innovation, and creativity. Dave gets quick answers from his boss, which allows him and Development Advertising to quickly respond to changes in the marketplace. Development Advertising is an example of an adhocracy culture.
TRUE
7. Bullying is repeated mistreatment of one or more persons by one or more perpetrators; it is abusive physical, psychological, verbal, or nonverbal behavior that is threatening, humiliating, or intimidating.
TRUE
7. Groupthink occurs when group members strive to agree for the sake of unanimity and thus avoid accurately assessing the decision situation. Here the positive team spirit of the group actually works against sound judgment.
TRUE
4. Anne, a manager at a local Target store, has a low tolerance of ambiguity. She is practical, logical and efficient. She is often impatient with her employees when she believes the work in her department can be done more efficiently and she lets her employees know about it. Anne most likely utilizes the directive style of management.
TRUE
4. Frank is interested in rewriting the vision statement for his antique shops, and he wants his employees and his business to grow. Therefore, the vision for Frank's stores should be positive and inspiring
TRUE
25. Phillip, owner of Technology Sales, said, "We have to focus on our customers and how can we beat the competition, so we have to be flexible and take risks." He encourages his R&D department to develop innovative products and focuses on being quick to respond to market changes. Technology Sales has a(n) _____ __ ______________________.
adhocracy culture. (take risks)
27. When organizations endeavor (1) to keep their costs (and hence the prices of their products or services) below those of competitors and (2) to target a wide market, they are utilizing a _____ strategy.
cost-leadership
29. Symbols, stories, heroes, and rites and rituals are ways in which ___ (is (are) most often transmitted to employees.
culture
Vrio
evaluate using a resource or investing product process, valuable, rare, easy to imamate operations
16. Which of the following is NOT one of the soft skills employers often find lacking in many Millennial applicants?
familiarity with social media
mediation
non-binding and arbitration is binding (final say)
32. Chad and his partner, John, have decided to update their computer network, although they have no expertise in this area. During a meeting with John, Chad commented that "Our decision is limited by numerous constraints, such as our understanding of the complexity of technology, time and money, imperfect information, and our conflicting goals." These limitations are hindrances to ______________.
rational decision making.
21. Which of the following is an example of a force for change originating outside the organization?
social and political pressures
24. ____ is a term for a corporate level defensive strategy used to address severe declines in performance.
A retrenchment strategy
55. Ralph, the manager of a busy hardware store, knows that he needs to entrust many of his tasks to managers and other employees. __ (is this process of assigning tasks to lower-level managers and employees. Ralph follows the 70% rule, which states that he should assign tasks to employees who can perform each task at least 70% as well as Ralph can.
Delegation
11. Often strategy implementation means overcoming resistance by people. Thus, top managers can't just announce the plans; they have to actively force them on middle managers, supervisors and employees
FALSE
14. Mediation is the process in which a neutral third party, an arbitrator, listens to both parties in a dispute and makes a decision that the parties have agreed will be binding on them (final say).
FALSE
20. When people seek information to support their point of view and discount data that do not, they are subject to overconfidence bias.
FALSE
3. Mission statements should not include information about customers and products or services
FALSE
8. understanding your decision style has no effect on handling conflict
FALSE
16. Which of the following is an effective way to deal with change and innovation?
Have the courage to follow your ideas.
30. In the BCG matrix, _______ are organizations that have slow growth but high market share, with income that often finances stars and question marks.
cash cows
24. Employees and customers are treated like a family at Bayou Seafood Café. The owners, work to encourage unity to increase their employees' job satisfaction and commitment. At their café, the owners have built a(n) _________ ____________________.
clan/family-oriented culture.
BCG matrix
companies evaluate their strategic business units based on growth rates and market share
25. Susana keeps a close eye on her company's external environment to discover possible opportunities for new products and to discern possible threats from the competition. In which activity is Susana engaged?
competitive management
5. Competitive intelligence means gaining information about one's competitors' activities so that you can anticipate their moves and react appropriately. For example, managers gain competitive intelligence in several ways and, surprisingly, most of them are public sources—including advertising, investor information, and business publications
TRUE
5. Tiffany is an architect for the building of a large office complex downtown. Frequently a group of steel workers whistle at her as she climbs a ladder or interacts with staff. The men's actions create a hostile work environment.
TRUE
5. With an escalation of commitment bias, decision makers increase their commitment to a project despite negative information about it.
TRUE
6. A chain of Command is another way of describing a hierarchy oriented organizational culture.
TRUE
6. For over 20 years, ABC Manufacturing produced only one product, a car part for Moraine Assembly (the Moraine, Ohio, General Motors truck factory). Because its single-product business is so closely tied to Moraine Assembly, ABC is a vulnerable company
TRUE
6. In the hostile environment type of sexual harassment, the person feeling sexually harassed experiences an offensive or intimidating work environment.
TRUE
6. Someone suffering from the "curse of knowledge" designs products without understanding what it's like to be as uninformed as the rest of us.
TRUE
7. The differentiation strategy is to offer products or services that are of unique and superior value compared to those of competitors but to target a wide market
TRUE
8. According to Porter, strategic positioning attempts to achieve sustainable competitive advantage by providing something distinctive to stakeholders
TRUE
8. In a behavioral-description interview, the interviewer explores what applicants have actually done in the past. Example "What was the best idea you ever sold to a supervisor, teacher, peer, or subordinate?"
TRUE
9. "Fit" refers to the ways a company's activities interact and reinforce one another. A dance studio achieves good fit among activities with its many programs for customers of various ages
TRUE
28. Organic Market sells high-quality products that are unique to its area; in addition, it offers regular workshops regarding healthy eating. By offering these types of products and services, Organic Market is pursuing a ___________ competitive strategy
differentiation
29. When an organization operates several businesses to spread the risk, such as a landscaping company that offers not only landscaping services but also lawn care, snow removal, and other services, that business is utilizing a ____ strategy.
diversification
62. Which of the following factors most reduces an organization's ability to learn from failure?
employees who blame others for failure
22. Organic Foods International has decided to increase its market share by hiring a marketing rep to visit businesses in the area and invite their employees to shop at Organic Foods and attend monthly health events that take place at Organic Foods stores. Each of the individual stores has hired two new employees to handle the anticipated increase in customer traffic. Organic Foods is using a ____ corporate strategy
growth
Corportate level strategy
growth, stability, defensive
44. Debbie likes working in the banking industry because it has a lot of structure and certainty, and the daily work is routine. Debbie probably _________________________.
has a low tolerance for ambiguity.
33. Sal has been in the landscaping business for over 40 years. When Jaime, his business partner, suggested adding snow removal as an extra service, Sal responded with "My gut feeling is to say yes because of my experience in the past and what I have seen other companies do over the years, both successfully and not." Sal is acting on __________ in his response to Jaime.
intuition
35. Which of the following may not be a hindrance to rational decision making?
intuition
13. VRIO is a framework for analyzing a resource, a product or a capability/service to determine its competitive strategic potential by answering four questions
is the resource valuable, is it rare, is it easy to imitate and is the firm organized to exploit or take advantage of the resource? : TRUE
56. Through a(n) ___ ______, a Firm assembles, product chunks or parts provided by outside contractors.
modular structure.
19. Adam, the owner of Adam's Roofing, was talking to a visitor in his office, telling her that "We are a fun-loving group that believes in teamwork and a family atmosphere at work, which significantly affects our work outcomes. Plus, we do things together outside of work. This is the 'social glue' that binds the members of our company together." Adam was referring to his company's ___ _____________
organizational culture.
20. According to the competing values framework, the four types of _____________ are clan/family oriented, adhocracy, market, and hierarchy.
organizational cultures
32. A company's overall ability to execute is a function of three core processes; _________________.
people, strategy, and operations
21. What are the three potential target markets of a unique and valuable strategic position?
poor products available; few products available; no products available
19. ______________ change or planned change involves making carefully thought-out changes in anticipation of possible or expected problems or opportunities.
proactive
21. The model of decision making that explains how managers should make decisions, assuming managers will make logical decisions that will be the optimum in furthering the organization's best interests, is known as the _______________________.
rational decision-making model
48. When Jason became one of three final candidates for a managerial position with a large pharmaceutical company, he and the hiring manager talked about the stressful deadlines and heavy travel required of the position, as well as the compensation and benefits. Jason appreciated that the hiring manager took the time to provide a(n) ___________________.
realistic job preview.
53. Jim was recently promoted to the position of supervisor at The Crab Shack, and he is now responsible for making decisions on numerous matters in the dining room and giving orders to the serving staff. Jim has the obligation to perform the many new tasks assigned to him as a supervisor, such as overseeing the closing work and the cleaning of the dining room. Jim's obligations are known as his _______________.
responsibility
23. Delux Technology has a reputation of reliability and a winning customer service, qualities that helped to build this highly respected brand over the last 15 years. Speaking at a recent business conference, the CEO of Delux, told his audience, "We have built our reputation by changing little over the last several years, but consistently helping customers with great, caring service and a reliable product." Which type of corporate level strategy does Delux Technology use?
stability strategy
31. In the BCG matrix, _____ are companies that have high growth and high market share, and are definite keepers.
stars
19. A key principle of ______________ is the creation of a unique and valuable position.
strategic positioning
31. Rites and rituals are _____________ ________________________________. For example, employees of New Belgium Brewery in Fort Collins, Colorado, get a free brewery-hopping trip to Belgium after being employed by the company for five years.
the activities and ceremonies that celebrate important occasions and accomplishments in the organization's life
36. The four styles of decision making, directive, analytical, behavioral and conceptual are based on the combination of the following two dimensions; ________________________
tolerance for ambiguity and value orientation.
31. According to Lewin, in the _________________stage of change, managers try to instill in employees the motivation to change, encouraging them to let go of attitudes and behaviors that are resistant to change.
unfreezing
Benchmarking
when a company compares performance with that of a high performing organization
17. To understand your own values, you should ________________________________________
write a strong marketing plan that will help you achieve your desired profit level.
70. A feedback technique in which an employee is appraised by her boss, peers, subordinates, and possibly clients is called a _____ _____ appraisal.
360-degree
43. ________________ is the process of studying large amounts of data of a variety of types to uncover hidden patterns, unknown correlations, and other useful information.
Big Data analytics
29. ____________ is the idea that proposes that the ability of decision makers to be rational is limited by numerous constraints, such as complexity, time, cognitive capacity, values, politics, skills, habits, and unconscious reflexes.
Bounded rationality
35. ________ is an emotional/behavioral response to real or imagined threats to an established work routine.
Resistance to change
3. Organizational structure is a formal system of task and reporting relationships that coordinate and motivate an organization's members so that they can work together to achieve the organization's goals.
TRUE
3. The Consolidated Omnibus Budget Reconciliation Act (COBRA) requires an extension of health insurance benefits after termination from employment.
TRUE
27. ___ _______ are objects, acts, or events that conveys meaning to others.
Symbols/Artifacts of organizational culture
1. Decision making is the process of identifying and choosing alternative courses of action.
TRUE
1. Human resource (HR) management consists of the activities performed by managers to plan for, attract, develop, and retain an effective workforce.
TRUE
1. Strategic planning is concerned with developing a comprehensive program for long-term success
TRUE
10, The growth, stability, and defensive strategies are common corporate level strategies
TRUE
11. Innovation is mostly the product of hard work and dedication rather than a "eureka" moment of epiphany.
TRUE
12. Contingency planning, also known as scenario planning and scenario analysis, is the creation of alternative plans for potentially different future conditions
TRUE
12. Radically innovative change involves introducing a practice that is new to the industry.
TRUE
13. Managers should delegate tasks that help their subordinates grow. This may include assigning managerial authority and responsibility to lower-level managers and employees.
TRUE
14. Keurig created a new category of coffee/tea preparation by offering one-cup-at-a-time pod-style brewing with its "K-cups." Keurig's product is an example of a transformational innovation.
TRUE
14. The BCG matrix is a means of evaluating strategic business units on the basis of (1) their business growth rates and (2) their share of the market
TRUE
15. An organizational culture that celebrates risk taking helps foster innovation.
TRUE
15. Arbitration is the process in which a neutral third party, an arbitrator, listens to both parties in a dispute and makes a decision that the parties have agreed will be binding on them.
TRUE
15. Benchmarking is a process by which a company compares its performance with that of high-performing organizations
TRUE
16. Accountability means managers must report and justify work results to the managers above them.
TRUE
16. Engaging with its employees must be included when a business engages in strategic control
TRUE
17. Responsibility is the obligation you have to perform the tasks assigned to you. The higher level the manager, the more responsibility he or she has.
TRUE
18. Person-Organization fit reflects the extent to which your personality and values align with the culture in an organization.
TRUE
2. A set of shared, taken-for-granted implicit assumptions that a group holds and that determines how it perceives, thinks about, and reacts to its environments is its organizational culture or corporate culture.
TRUE
2. Demassification refers to customer groups becoming segmented into smaller and more specialized groups responding to more narrowly targeted commercial messages.
TRUE
2. Rational model of decision making assume that managers have complete information and are able to make the best decision for the organization.
TRUE
2. The Family and Medical Leave Act requires employers to provide 12 weeks of unpaid leave for medical and family reasons, including for childbirth, adoption, or family emergency.
TRUE
2. The first step in the strategic-management process is establishing the mission, vision and the values statements
TRUE
3. With satisficing, managers look for alternatives until they find one that is satisfactory, not optimal.
TRUE
Confirmation bias
When people seek information to support their point of view and discount data that do not, they are subject to overconfidence bias
18. Which of the following questions is NOT useful for evaluating a company's values statement
Will it be unchanging, as valid 100 years from now as it is today?
73. Satisficing is the tendency of ______________________________________________________.
a group to settle on a decision that is "good enough."
20. A SWOT analysis is _____________________________________
a search for the strengths, weaknesses, opportunities, and threats influencing an organization's competition.
