Management 3000W Final Exam

According to the BCG Matrix, business units that have high market share but are in a market that is not growing are called ______.

Cash cows

When BA Products managers assume that BA employees will change if they know they will otherwise face negative consequences, it refers to which of the following?

Deficit-based change

The variables measured in BCG Matrix are:

Market share; market growth

"M" in SMART Framework refers to which of these?

Measurable

ABC Products has a highly vertical organizational structure that is designed to generate a high degree of standardization and control. ABC Products can be described to have which of these structures?

Mechanistic

____ rights are universal and based on norms in every society.

Moral

______ 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 first phase of an Appreciative Inquiry (AI) practice?

Discover

According to Caroucci, five ways organizations needlessly provoke good people to make unethical choices are as follows EXCEPT:

People feel psychologically safe to speak up.

ABC Products is interested in understanding if new firms were coming into their market. ABC should use which of the following strategic analysis tools?

Porter's 5 forces

Anglo and Germanic Europe clusters are low on which leadership style, according to the GLOBE project?

Self-protective

Which of the following represents the first step in the planning process?

Set goals

Privately owned and managed _____ are licensed by the SBA and provide long-term financing for small businesses.

Small business investment companies

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

With growing dissatisfaction with performance management processes, Agile Manifesto was developed by software developers and emphasized principles of all of these EXCEPT:

Emotional intelligence

Weber proposed all of these elements of bureaucracy that serve as a foundation for determining an appropriate structure EXCEPT:

Structural change

Due to their size large businesses tend to have greater flexibility than small businesses. a. True b. False

False

Entrepreneurs, as a general group, dislike risk taking.

False

Ethics is related to influencing behaviors to act in accordance to the law or face consequences—referred to as a "stick" approach.

False

In organizations today, success depends on talent acquisition outsourcing to external recruiters. a. True b. False

False

Organizational design refers to the constant shifts that occur within an organizational system. a. True b. False

False

As a general rule of thumb, the more complex the potential change, the greater the need to involve employees in the process of planning and implementing change. a. True b. False

True

Which of the following is a reason why small business thrives in the United States?

Guaranteed profits

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. a. True b. False

True

The most common use of a business plan is to persuade lenders and investors to finance the venture. a. True b. False

True

The strategic management process is 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. a. True b. False

True

Performance management began as a simple tool to drive _____ but has evolved more recently into a tool used for _____.

accountability; employee development

. A ______ strategy involves developing plans to increase the size of the firm in terms of revenue, market share, or geographic reach.

growth

A ____ is a decision to carry out a particular action in order to achieve a specific goal.

plan

While a firm's _______ is a general statement about its values, a firm's ______ is more specific

vision statement; mission statement

In the ______ phase of the organizational life cycle, the organization is usually very small and agile, focusing on new products and markets. The founders typically focus on a variety of responsibilities, and they often share frequent and informal communication with all employees in the new company.

Entrepreneurship

Which of these represents the first step in Kotter's Change Model?

Establish a sense of urgency

Samantha, manager at ABC International, is facing situations and predicaments in which there is not an optimal or desired choice to be made between two options, neither of which solves her issue or delivers an opportunity that is ethical. Samantha can be described as facing which of these?

Ethical Dilemma

. International trade specialists that buy goods at a discount from small businesses and resell them abroad are called:

Export trading companies

. In deficit-based change, leaders assume that employees will change if they can be inspired to aim for greater degrees of excellence in their work. a. True b. False

False

A positive aspect of opening a small business is that it takes very little management skill because it is small. a. True b. False

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. True or False

False

Compensation and benefits are the two elements that make up the total reward strategy used by organizations to attract, motivate, retain and engage employees. a. True b. False

False

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

False

The SMART framework can be applied to business or personal goals. A good goal should be specific, measurable, applicable, rewarded, and time-bound. a. True b. False

False

The culture of compliance refers to when people trust online reviews of their companies more than what companies communicate. T or F

False

XY Deliveries, a package delivery company, is organized as XY North, XY South, XY East, XY West, and XY Central divisions in the United States. Which of the following best describe the structure at XY Deliveries?

Geographic structure

The skills, knowledge, and experience of an individual or group and its value to an organization refers to _____.

Human capital

Which of these refers to small refinements in current organizational practices or routines that do not challenge, but rather build on or improve, existing aspects and practices within the organization?

Incremental change

______ are preferred means of behavior used to obtain one's goals.

Instrumental values

An organization with a horizontal structure is also known as a flat organization because it often features only a few levels of organizational hierarchy. a. True b. False

True

Ethical relativism holds that people set their own moral standards for judging their actions.

True

Higher-potential employees, no matter what the level, often display the following competencies: business acumen, strategic thinking, leadership skills, people skills, learning agility, and technology skills. a. True b. False

True

Which dimension of cultural intelligence is based on the ability of the individual to exhibit the appropriate forms of verbal and nonverbal behaviors when interacting with people from another culture?

Behavioral dimension

____ is a process in which the performance standard is based on another firm's superior performance.

Benchmarking

Within an organization, the primary lever to address the drive to _____ is culture, and the actions are to foster mutual reliance and friendships, to value collaboration and teamwork, and to encourage best practice sharing.

Bond

A _____ is a formal written statement that describes in detail the idea for a new business and how it will be carried out.

Business plan

Which of the following represents the framework a firm uses to organize its activities, developed by the firm's top managers and includes examples such as cost leadership and differentiation?

Business-level strategy

The final phase of an Appreciative Inquiry (AI) practice, ______, occurs as employees put into practice the plans they have developed.

Destiny

World at Work defines a total rewards strategy as the six elements of total rewards that collectively define an organization's strategy to attract, motivate, retain and engage employees. Which of the following is NOT an element of this total rewards?

Employee life cycle

The person who takes the risk of starting and managing a business to make a profit is called a(n):

Entrepreneur

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 or False

True

Kotter's change model aligns with mechanistic view of structure and thus it may be especially useful in organizations where there is a strong, hierarchical structure. a. True b. False

True

Many small businesses that sell their products internationally use the services of export management companies (EMCs). a. True b. False

True

One of the reasons why there has been a dramatic increase in the number of small business startups is rapidly changing technology. a. True b. False

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 or False?

True

Performance management began as a simple tool used for employee development. a. True b. False

True

Strategic planning and implementation is perhaps the most common type of organization-level change. a. True b. False

True

Sylvia believes and tries to follow the principle that considers the welfare and risks of all parties when considering policy decisions and outcomes. She really tries incorporating a humane consideration of and for individuals and groups when deciding a course of action. Sylvia follows which of these ethical principles?

Universalism

An evaluation tool that collects feedback from manager, peers, direct reports, and customers is called ______.

360 assessment

When he read Chicken Soup From the Soul, Joe Farmer was struck by how many of the stories mentioned the scent of the islands. So Farmer created bottles filled with Hawaiian air and some scented essence beads. When customers shake the bottles up and open the lids, they're transported back to paradise. While many marketing experts did not think that consumers would buy bottles of air, Farmer has earned more than half a million dollars of sale during his first year of operation. Farmer was an example of a _____ entrepreneur.

Classic

Jay Patel is the HR manager at BNB Manufacturing. Jay is interested in establishing the pay-for-performance structure at BNB. Which of the following should be the final step in establishing this framework Jay should focus on?

Communicate and train managers and employees on the pay for-performance philosophy and process changes.

Which change model argues that an organization is constantly developing and adapting to its environment, much like a living organism?

Complex adaptive systems

James believes in the principle that an action is morally right if it produces the greatest good for the greatest number of people. This represents which of these ethical principles?

Utilitarianism

Which of the following strategy is one in which the company decides that it makes sense to organize its functional activities, such as marketing, finance, etc., around geographical regions that play a critical role in terms of?

A regional strategy

Which act prohibits private employers, state and local governments, employment agencies, and labor unions from discriminating against qualified individuals with disabilities?

ADA of 1990

Hannah Li wants to quit her job as a legal secretary and start her own small business. She knows that she will be successful if she can find the right idea. Where can Li look for ideas for her new business?

All of the above- Problems she noticed, interest in history of Asian art, suggestions from her family, other businesses in other regions of the country

A well-written business plan should contain:

All of the above- executive summary, marketing plan, vision and mission statement, management plan

Which of the following describe a steadfast devotion to improving the welfare of others?

Altruism

Michael Bronner made a fortune in the direct marketing business as the cofounder and CEO of Bronner Slosberg Humphrey, a wildly successful direct-marketing firm. His newest venture, Upromise Inc., enlists some of America's largest corporations to help families pay for college and is extremely successful. Entrepreneur Bonner would more than likely have which of the following characteristics?

Ambitious, Independent, Self-Confident, Visionary, All of the above

Behavioral event interview should be conducted during which step for effective recruiting of key leadership hires?

Assess the candidates

The difference between the small business owner and the entrepreneur is that the entrepreneur:

Assumes the risk of the business

Gord Larose and his friend David Allan worked in Ottawa at Nortel Networks, a giant telecommunications-equipment maker. One Friday afternoon, over a few beers in Larose's kitchen, they dreamed up a scheme for renting software over the Internet. Instead of quitting their jobs, they reported to work on Monday, explained their plan to their boss, and began working to make their idea a reality. Four years later, their idea has evolved into an important division of Nortel called Channelware. Larose and Allan are examples of:

Intrapreneuers

In 1981, _____ championed the forced-ranking system.

Jack Welch

Which of the following model of change proposed the sequence of "Unfreeze, Move, Refreeze"?

Lewin's change model

When Allison Logue found out her children were allergic to corn, she started looking for sweets and starches that were corn-free and was dismayed to find very few such products on the market. As a result, she has started her own small business to produce and market corn-free desserts. It is a small market, and Logue plans to keep her business small. Logue is an example of a(n):

Micropreneuer

Which term describes a system for accomplishing and connecting the activities that occur within a work organization?

Organizational structure

____ is mid-level planning that consists of broad ideas of what the company should do to pursue its mission.

Tactical planning

Which of the following approach best defines the sum of those conditions of social life which allow social groups and their individual members relatively thorough and ready access to their own fulfillment?

The common good

. From its earliest inception as a primarily compliance-type function, human resource management has further expanded and evolved into its current state as a key driver of human capital development. a. True b. False

True

. The strategy cycle is a process managers use to achieve an advantage in the marketplace, and the measurement and evaluation stage tells managers whether the advantage is being achieved. a. True b. False

True

A business-level strategy is the framework a firm uses to organize its activities, and it is developed by the firm's top managers. a. True b. False

True

A plan includes decisions about when and how actions should be accomplished and what resources will be required to complete the actions. a. True b. False

True

. Jay Patel is the HR manager at BNB Manufacturing. Jay wants to establish the pay-for-performance structure at BNB. In these efforts, Jay's boss tells him to include the design of a merit matrix that ties employee annual pay increases to performance as well as the design of a short-term bonus matrix and a long-term bonus pay-for-performance strategy. Jay should focus on which of the following step in the framework to address these issues?

Update compensation processes with new pay for-performance elements

According to the evolution of HR work, the administrative work of HR personnel, such as the terms and conditions of work, delivery of HR services, and regulatory compliance were the focus of which of the following?

Wave 1

Which of the following describe vision of an organization?

What is our strategic purpose for operating?