Business Admin Smartbook #3

______ leadership is a leadership style that involves making managerial decisions without consulting others.

Autocratic

Functions included in staffing an organization are:

Hiring, recruiting, and retaining

What level of management consists of the president and other key company executives who develop strategic plans?

Top management

True or false: Intermediaries are the middle links in a series of organizations that distribute goods from producers to consumers.

True

The consumer market is made up of:

individuals and households

Select the technological innovations that companies can use to develop products and services that match consumers' wants and needs more effectively.

Blogs, social media, and data bases

What three positions are considered as top management in an organization?

Chief executive officer, Chief operating officer, and chief

Studying the thought processes people use to make buying decisions and the factors that influence their choices is the study of Blank______ behavior.

Consumer

The ______ function of management measures performance relative to the planned objectives and standards, rewards people for work well done, and takes corrective action when needed.

Control

Which term defines having to choose among two or more alternatives? Multiple choice question.

Decision making

______ is at the heart of all the management functions because it requires managers to choose among two or more alternatives.

Decision making

Because they differ greatly by age, education, income, and taste, marketers often need to differentiate the various consumer groups in order to ______.

Develop products for separate groups

When marketers adapt their products by offering less expensive products that are tailored to consumers with modest incomes, they are paying close attention to:

Economic factors

Pick out the influences in the marketing environment:

Economic, global, and competitive

Empowerment occurs when: Multiple choice question.

Employees are given the authority to make a decision and the responsibility to respond quickly to customer requests.

What two groups would be regarded as external customers?

End users and dealers

Leaders in traditional organizations who direct employees are likely to:

Explain routines, give specific assignments, and provide performance feedback

______ customers include dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

External

Promotion involves:

Informing people about products and motivating potential customers to buy

These people perform many of the activities required to move products efficiently from producers to consumers or industrial buyers and are often wholesalers or retailers.

Intermediaries

______ is finding the right information, keeping information in a readily accessible place, and making the information known to everyone in the firm.

Knowledge management

In an organization, ______ establish a vision and corporate values, while ______ carry out that vision.

Leaders; managers

Creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business in order to improve its effectiveness and efficiency is the definition of ______.

Leadership

Management is the process used to accomplish organizational goals by the use of which four functions?

Leading, planning, organizing, and controlling

What are three tasks of knowledge managers?

Making information known to everyone in the organization, finding the right information, and keeping information in a readily accessible place

_________is the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.

Management

Employees who get things done using an organization's financial resources, information, equipment, and workers are:

Managers

Which marketing activity helps businesses gather information to compete effectively?

Market research

The activities buyers and sellers perform to facilitate mutually satisfying exchanges is:

Marketing

The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called:

Marketing

The control function of management (select all that apply):

Measures performance relative to the planned objectives and standards, takes corrective action when necessary, and rewards people for work well done

Companies use technological changes such as consumer databases, blogs, and social networking in order to develop products that ______.

Meet consumer needs

With marketing research, marketers analyze markets to determine ______.

Opportunities and challenges

One of the fastest-growing segments of the U.S. population is:

Over 65

Technical skills are the ability to ______.

Perform tasks such as filling taxes or assembling a keyboard

Changes in the economy force marketers to adjust ________and adapt their products to take into account consumers' income.

Prices

A physical good, service, or idea that satisfies a want or need is called a(n) ______. Multiple choice question.

Product

When setting price, a company must consider many factors including the costs of:

Production, distribution, and promotion

_________is all of the techniques and communications that inform people and motivates them to buy products and services.

Promotion

The definition of ______ states: a management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives.

Staffing

The definition of ______ ______ states: skills that involve the ability to perform tasks in a specific discipline or department. Multiple choice question.

Technical skills

Marketers must pay attention to the dynamic competitive environment because:

The Internet gives consumers information instantly and change is occurring more rapidly

Brick and mortar retailers must pay attention to the dynamic competitive environment mainly because of competition from:

The internet

Sociocultural, competitive, economic, global, and technological influences are all factors influencing ______.

The marketing environment

Product, price, place, and promotion are the four elements in ______.

The marketing mix

An organization's ______ gives it a sense of purpose and a set of values that unites workers in a common destiny.

Vision

An organization's ______ is a broad explanation of why the organization exists and where it is trying to go.

Vision

Managers practice the art of getting things done using organizational resources such as:

Workers, Information, and Equipment

In which two situations is autocratic leadership effective?

Working with new, unskilled workers, and emergencies