BUS Ch 4

_______ is a major component in motivation.

Communication

All of the following are basic duties of a manager except:

Consolidating

__________ become(s) __________ only when they are evaluated, filtered, condensed, analyzed and organized for a specific purpose, problem, individual, or time.

Data; information

Which of the following is not a cultural product?

Emotions

Organizational resources include all of the following except:

Employee training

The first step in the controlling function of management is to

Establish performance standards.

_______ exemplifies the complexity of relationships among the functional areas of business.

Financial ratio analysis

Which country has the highest average hourly pay for auto workers?

Germany

What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?

Growth

The times interest earned ratio would be classified as a(n):

Leverage ratio

Who should perform an internal audit?

Managers from different its of the organization.

Which of the following is the process of influencing people to accomplish specific objectives?

Motivating

In Europe, it is generally true that the farther __________ on the continent, the more participatory the management style

North

Empirical indicators are resources that are either rare, hard to imitate, or

Not easily substitutable.

Linkages between a firm's culture and strategies often determine success.

True

The purpose of organizing is to achieve coordinated effort by defining task and authority relations.

True

The process whereby a firm determines the costs associated with organizational activities from purchasing raw materials to manufacturing products to marketing those products is called

Value chain analysis

Life-directing attitudes that serve as behavioral guidelines are called:

Values

Distribution includes

Warehousing

The Robinson-Patman Act affects a company's

Pricing methods

What marketing function includes test marketing?

Product/service planning

Americans place an exceptionally high priority on __________ whereas many foreigners place more worth on __________

Relationships; time

A standardized, detailed set of techniques and behaviors that manage anxieties, but seldom produce intended, technical consequences of practical results are called

Rituals

Where is the largest seaport, in terms of ship container traffic processed annually?

Singapore

Which ratio is calculated by dividing profit before interest and taxes by total interest charges

Times-interest-earned

During the 2007 Super Bowl, a 30-second advertisement cost over $2.5 million.

True

The IFE Matrix should be _____________ in multidivisional firms.

Constructed for each division

Selling includes all of these marketing activities except:

Customer analysis

Which of these is the allocation and reallocation of capital and resources to projects, products, assets and divisions of an organization?

Investment decision

Which function of management includes areas such as job design, job specification, job analysis and unity of command?

Organizing

Which function of management is concerned with span of control and chain of command?

Organizing

What is an up-front investment in success?

Planning

What is the essential bridge between the present and the future that increases the likelihood of achieving desired results?

Planning

_______ management deals with inputs, transformations and outputs that vary across industries and markets.

Production/operations

What are historical narratives describing the unique accomplishments of a group and its leaders, usually in heroic terms.

Sagas

A ritual is a standardized, detailed set of techniques and behaviors that manage anxieties but seldom produce intended, technical consequences of practical importance.

True

Activity ratios measure how effectively a firm is using its resources.

True

Controlling is the management function that is most important for the evaluation stage of the strategic management process.

True

Internal R&D and contract R&D are the two basic forms of R&D in organizations.

True

The Internal Factor Evaluation Matrix should include from 10 to 20 key factors

True

The only certain thing about the future of any organization is change.

True

The percentage of companies among the S&P 500 that raised their dividends decreased in 2006.

True

The process of performing an internal audit, compared to the external audit, provides more opportunity for participants to understand how their jobs, departments and divisions fit into the whole organization.

True

Which of the following is not a key question that can reveal internal strengths and weaknesses of the marketing department?

Are markets segmented effectively?

Which ratio would be considered an activity ratio?

Average collection period

Which function of management includes all of those activities undertaken to ensure actual operations conform to planned operations?

Controlling

Staffing involves all of these activities except:

Customer analysis

_______ can reveal the demographic characteristics of an organization's customers.

Customer profiling

Which decision concerns determining the best capital structure for the firm and includes examining various methods by which the firm can raise capital

Financing

What category of ratios measures a firm's ability to meet maturing short-term obligations?

Liquidity

________ is not considered to be a function of marketing

Market segmentation

Opportunity analysis is one of the basic functions of

Marketing

Which management function includes breaking tasks into jobs, combining jobs to form departments and delegating authority?

Organizing

Which U.S. firm spent the most on advertising in 2006?

P&G

What category of ratios includes return on total assets and return on stockholders' equity?

Profitability

Who does a planning horizon of two to five years applies to?

Top management

According to Roger Schroeder, which of the following is not a basic function of production management?

Transportation

A limitation of financial ratios is the fact that they are based on accounting data.

True

An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses

True

An opportunity analysis is an appraisal of the costs, benefits and risks associated with marketing decisions.

True

Benchmarking is an analytical tool used to determine whether a firm's value chain activities are competitive compared to rivals.

True

Cultural products include values, beliefs, stories, and language.

True

Dividend decisions concern issues such as the percentage of earnings paid to stockholders, the stability of dividends paid over time and the repurchase or issuance of stock.

True

Five major stakeholders that affect pricing decisions are consumers, governments, suppliers, distributors and competitors.

True

Four common approaches to determine R&D budget allocations used successfully are: (1) finance as many project proposals as possible; (2) use a percentage-of-sales method; (3) budget for R&D about what competitors spend; or (4) decide how many successful new products are needed and work backwards to estimate the required R&D investment.

True

In China, business behaviors revolve around guanxi, or personal relations.

True

In the U.S., personal achievement and accomplishments are more important than time spent with the family and the quality of relationships espoused by some cultures.

True

Increased efficiency, quality, productivity and job satisfaction can come from cross-training workers

True

Internal Factor Evaluation Matrix is a summary step when conducting an internal strategic-management audit.

True

Marketing research is the systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services.

True

Motivation is one explanation why some people work hard and others do not.

True

The functions of information systems are growing in importance because organizations are becoming more complex, decentralized and globally dispersed.

True

The idea that paying dividends results in a higher stock price is a myth.

True

The smile is one form of communication that works the same worldwide.

True

The subtle, elusive and largely unconscious forces that shape the workplace are captured by the organizational culture.

True

There are seven basic functions of marketing: customer analysis, selling, product and service planning, pricing, distribution, marketing research and opportunity analysis.

True

Value Chain Analysis can enable a firm to better identify its own strengths and weaknesses especially as compared to competitors' Value Chain Analyses.

True

Synergy is

When a team effort is used to achieve desired results.

______ has been successful in determining R&D budget allocations.

All of the above have been used

A firm's strengths that cannot be easily matched or imitated by competitors are called

Distinctive competencies

The initial step to implementing value chain analysis is

Dividing a firm's operations into specific activities or business processes.

Which of the following is the first step in developing an IFE Matrix?

Identifying the organization's strengths and weaknessess/

Which of the following ties all business functions together and provides the basis for all managerial decisions?

Information

A management __________ receives raw material from both the external and internal evaluation of an organization.

Information system

A pattern of behavior developed by an organization as it learns to cope with its problems of external adaptation and internal integration that has worked well enough to be considered valid and to be taught to new members as the correct way to perceive, think and feel is called:

Organizational culture

The internal resource categories used in the resource-based approach are physical resources, human resources and

Organizational resources

All of the following are key questions that can reveal internal strengths and weaknesses in the management department except

Are the organization's products positioned well among competing products?