Final Management

1. Executive managers are at the top of the hierarchy and are responsible for the entire organization, especially its strategic direction. a. True b. False

A. True

14. Because tariffs are usually passed along to the consumer in the form of higher prices, imposing tariffs on imported goods gives domestic companies a price advantage and protects them from foreign competition. a. True b. False

A. True

15. Culture tells people who they are, which behaviors are appropriate, and which are not acceptable in any society. a. True b. False

A. True

7. The Industrial Revolution saw work shift from family-led home production to factory production. a. True b. False

A. True

64. In ______ feedback, the receiver responds by challenging the original message. A. corrective B. role ambiguity C. reinforcing D. informational

A. corrective

24. _____ are entrepreneurs who start a series of companies. A. Multipreneurs B. Intrapreneurs C. Multi-venturists D. Multi-faceted venturists

A. multipreneurs

41. A _____ strategy is a strategy for a company to maintain its current income, market share, or geographic reach. A. stability B. defensive C. divestiture D. growth

A. stability

55. According to Linda Hill, managing a team means managing paradox. a. True b. False

a. True

60. Interpersonal communication influences the opinions, attitude, motivation, and behaviors of others. a. True b. False

a. True

61. Management communication is about the movement of information and the skills that facilitate it—speaking, writing, listening, and processes of critical thinking. a. True b. False

a. True

74. As organizations become larger and more complex, the task of managing becomes increasingly complex. a. True b. False

a. True

75. Studies suggest that firms who engage in planning are more financially successful than those that do not. a. True b. False

a. True

53. Members for a team should be selected for their personality, not for their skill and skill potential. a. True b. False

b. False

46. ______ refers to identity-based differences among and between two or more people that affect their lives as applicants, employees, and customers. A. Diversity B. Inclusion C. Glass ceiling D. Quid pro quo

A. Diversity

63. ______ refers to factors that distort message clarity. A. Noise B. Information overload C. Encoding D. Reputation management

A. Noise

42. When a company decide to shrink its operations to reduce costs in order to survive, it is employing a ____ strategy. A. stability B. defensive C. intensive D. growth

B. defensive

70. Which of these best described communication? A. A social process B. Limitation to productivity C. Time waster D. A biological process

A. A social process

18. ____ occurs when one assumes that all people within a culture act, think, and behave the same way. A. Cultural stereotyping B. Expatriate C. Masculinity D. Individualism

A. Cultural stereotyping

62. The individual, group, or organization for which information is intended best describe which of the following? A. Communicator B. Receiver C. Figurehead D. Decoder

B. Receiver

2. For managers, ______ skills involve the ability to work with people and understand employee motivation and group processes. A. executive B. human relations C. conceptual D. technical E. long-range

B. human relations

33. "O" in the SWOT analysis stands for ______. A. open B. opportunities C. output D. operations

B. opportunities

71. The process by which managers establish goals and specify how these goals are to be attained is: A. management by objectives B. planning C. strategic management D. part of budgeting

B. planning

30. A firm's strategic position should try to be unique in some way that competitors cannot imitate quickly or easily a. True b. False

a. True

38. PESTEL, Porter's Five Forces, and Resources and Capabilities are three important strategic analysis tools managers can utilize in formulating the strategies. a. True b. False

a. True

43. The Age Discrimination in Employment Act (ADEA) of 1967 protects individuals who are 30 years of age or older from employment discrimination based on age. a. True b. False

b. False

44. Women constitute approximately 53% of the workforce compared to approximately 47% for men. a. True b. False

b. False

52. Leadership and management are interchangeable. a. True b. False

b. False

73. Strategic, administrative, and operating plans are: A. organizational scope plans B. hierarchical plans C. contingency plans D. Standing plans

B. hierarchical plans

58. Which of the following is known as the "polite stage"? A. Storming B. Performing C. Forming D. Adjourning

C. Forming

49. Which is an invisible barrier based on the prejudicial beliefs that underlie organizational decisions that prevent women from moving beyond certain levels within a company? A. Diversity B. Inclusion C. Glass ceiling D. Quid pro quo

C. Glass ceiling

39. _____ is (are) the big-picture goals for the company. A. Vision B. Mission C. Opportunities D. Strategic objectives

D. Strategic objectives

48. Which term represents an individual's visible characteristics, including, but not limited to, age, body size, visible disabilities, race, or sex? A. Deep-level diversity B. Valuing diversity C. Hidden diversity D. Surface-level diversity

D. Surface-level diversity

17. The movement of people from their home country to other countries refers to A. immigration. B. global strategy. C. emerging markets. D. globalization.

A. immigration

16. Exporting is one of the easiest ways to go international. a. True b. False

A. true

20. Which of the following occurs when a company invests in another country by constructing facilities and buildings in that country? A. FDI B. Licensing C. Franchising D. Strategic Alliances

A. FDI

66. Which of the following is the most prevalent type of communication? A. Oral communication B. Written communication C. Nonverbal communication D. Vertical communication

A. Oral communication

68. Which of these is known for its efficiency and immediacy? A. Oral communication B. Written communication C. Nonverbal communication D. Vertical communication

A. Oral communication

6. Which system is quick, impulsive, and intuitive, relying on emotions or habits to provide cues for what to do next? A. Reactive B. Logical C. Methodical D. Ad hominem

A. Reactive

13. _____ involves selflessly working with followers to achieve shared goals that improve collective, rather than individual, welfare A. Servant leadership B. Rights approach C. Stewardship D. Ethical relativism

A. Servant leadership

35. Which of the following SWOT factors are internal to the firm? A. Strengths and weaknesses B. Weaknesses and opportunities C. Opportunities and threats D. Threats and strengths

A. Strengths and weaknesses

72. Where the organization is headed or is going reflects what stage of the planning process? A. goal setting B. premising C. awareness D. selection of alternatives

A. goal setting

29. The Small Business Administration (SBA): A. helps people start and manage small businesses B. is a privately-owned company C. is a financial institution D. does not have a Web site

A. helps people start and manage small businesses

21. 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. a. True b. False

A. true

3. Maximizing shareholder wealth is often a short-sighted decision because it can harm the organization's financial viability in the future. a. True b. False

A. true

27. The two forms of business financing are _____ (borrowed funds) and _____ (ownership funds). A. credit; leverage B. equity; debt C. debt; equity D. equity; leverage

C. debt; equity

65. In ______ feedback, the receiver communicates that she has clearly received the message and its intentions. A. corrective B. role ambiguity C. reinforcing D. informational

C. reinforcing

34. "T" in the SWOT analysis stands for ______. A. teamwork B. time C. threats D. terminal

C. threats

8. 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? A. The Italian Renaissance B. The ancient Egyptians pyramids C. The Greeks during the time of Plato and Socrates D. The great Roman Empire

A. The Italian Renaissance

69. Body language and facial expression are examples of which of these? A. Oral communication B. Written communication C. Nonverbal communication D. Vertical communication

C. Nonverbal communication

36. Which of the following SWOT factors are external to the firm? A. Strengths and weaknesses B. Weaknesses and opportunities C. Opportunities and threats D. Threats and strengths

C. Opportunities and threats

11. Which of the following describe vision of an organization? A. What is our strategic purpose for operating? B. Who is our customer? C. Who are we? Who will we become? D. What do we stand for and believe in? What standards can be used to evaluate us and judge us?

C. Who are we? Who will we become?

4. _____ refer to our beliefs about what is right vs. wrong, good vs. evil, virtuous vs. corrupt. A. Ad hominem B. Groupthink C. Heuristics D. Ethics and morals

D. Ethics and morals

9. Which of the following invention during the Italian Renaissance allowed the reintroduction of classical knowledge and the emergence of new knowledge and learning to spread throughout Europe? A. Clay coins B. Introduction of incentives C. Span of control D. Printing press

D. Printing Press

5. Which system is logical, analytical, deliberate, and methodical? A. Reactive B. Reflexive C. Heuristics D. Reflective

D. Reflective

59. _____ is a competency and a skill that enables individuals to function effectively in cross-cultural environments. A. Structural intervention B. Cultural intelligence C. Paradoxes D. Exit

B. Cultural intelligence

31. "S" in the SWOT analysis stands for ______. A. support B. strategy C. system D. strengths

D. strengths

22. Micropreneurs are entrepreneurs who start small and plan to stay small. a. True b. False

A. true

51. Women today earn about ____ cents to every dollar that men earn, even while performing the same or similar jobs. A. 50 B. 80 C. 95 D. 120

B. 80

47. Which term describes a collective of individuals who share the same demographic characteristics such as race, sex, or age? A. Diversity B. Identity group C. Inclusion D. Quid pro quo

B. Identity group

19. ______ is a contractual agreement whereby, in exchange for a royalty or fee, a company gives the right to another company to use a trademark, know-how, or other proprietary technology. A. FDI B. Licensing C. Exporting D. Strategic Alliances

B. Licensing

10. ______ refers to the field of ethics concerned with our asking how should and ought we live and act. A. Business Ethics B. Normative ethics C. Ethical relativism D. Virtue ethics

B. Normative Ethics

37. A firm's _____ are what it is not good at—things that it does not have the capabilities to perform well. A. Strengths B. Weaknesses C. Opportunities D. Threats

B. Weaknesses

12. Which of the following describe mission of an organization? A. What is our product or service? B. What is our strategic purpose for operating? C. Who is our customer? D. Who are we? Who will we become?

B. What is our strategic purpose for operating?

67. Which of the following includes e-mail, texts, letters, reports, manuals, and annotations on sticky notes? A. Oral communication B. Written communication C. Nonverbal communication D. Vertical communication

B. Written communication

50. ______ occurs when an employee or an applicant is treated unfairly at work or in the job hiring process due to an identity group, condition, or personal characteristic. A. Cognitive diversity B. Groupthink C. Cognitive flexibility D. Workplace discrimination

D. Workplace discrimination

26. A well-written business plan should contain: A. executive summary or company overview B. a marketing plan C. a vision and mission statement D. all of the above

D. all of the above

28. Which of the following is NOT one of the advantages of owning a small business? A. flexibility B. efficiency of operation C. ability to serve specialized markets D. avoidance of taxes

D. avoidance of taxes

A ______ strategy involves developing plans to increase the size of the firm in terms of revenue, market share, or geographic reach. A. stability B. defensive C. divestiture D. growth

D. growth

25. A business plan: A. describes in detail the idea for the new business and how it will be carried out B. is used to persuade lenders and investors to finance the venture C. may take many months to write D. is accurately described by all of the above

D. is accurately described by all of the above

23. Many classic entrepreneurs are _____ who start small and plan to keep their business small. A. interpreneurs B. multipreneurs C. intrapreneurs D. micropreneurs

D. micropreneurs

32. "W" in the SWOT analysis stands for ______. A. win B. wages C. welfare D. weaknesses

D. weaknesses

45. Although Blacks do not make up the largest share of the workforce for racial minorities, research studies show they face discrimination more often than other racial minorities. a. True b. False

a. True

54. Teams work best when they have a compelling reason for being, and it is thus more likely that the teams will be successful and live up to performance expectations. a. True b. False

a. True

56. Mining is a technique that can be used in teams that tend to avoid conflict. a. True b. False

a. True

57. In a team, the multiple diverse perspectives can enhance both the understanding of the problem and the quality of the solution. a. True b. False

a. True