management extra credit
Place the steps of the planning/control cycle in the correct order, with step one listed first (at the top) and step four listed last (at the bottom)
1. Make the plan 2. Carry out the plan 3. Control the direction by comparingresults with the plan. 4. Control the direction by correcting deviations and/or improving future plans
Based on Figure 4.1, list in order the methods of expanding internationally according to their risk and cost of investment. Place the method with the lowest risk and investment at the top of the list.
1. global outsourcing 2. importing exporting countertrading 3. licensing and franchising 4. joint ventures 5. wholly-owned subsidiaries
What statement regarding ethical climates is TRUE?
An ethical climate significantly affects the frequency of ethical behavior.
Bethany wants to buy a pair of designer boots. To find the best price, she searches the Internet and compares prices among the eight sites that sell the boots. Which of Porter's five competitive forces is demonstrated in this scenario?
Bargaining power of buyers
The Internet has enabled consumers to "price shop" several retailers in order to find the best price for items such as appliances, electronics, and even cars. This has increased the consumer's ability to better negotiate favorable prices with retailers, demonstrating which of Porter's five competitive forces?
Bargaining power of buyers
Pacific Specialty Bikes store gets customized parts for its high-end models from a local manufacturer, Premium Supply. When the manufacturer announced a price increase, the bike store tried to switch to other local manufacturers but learned they that they wouldn't be able to meet delivery schedules. As a result, Pacific Bike chose to pay the higher prices from Premium Supply. Which of Porter's competitive forces does this demonstrate?
Bargaining power of suppliers
Which countries formed the North American Free Trade Agreement (NAFTA)? (Choose every correct answer.)
Canada United States Mexico
What are the planning steps in the planning/control cycle? (Choose every correct answer.)
Carrying out the plan. Making the plan.
Which type of bias is described by the tendency of decision makers to classify people or information based on observed or inferred characteristics?
Categorical thinking
Sam follows Fox News Channel on Facebook so she can occasionally see news from a viewpoint that contrasts with the posts on her regular Newsfeed. As a result, Facebook mislabels Sam as "conservative." What is this an example of?
Categorical thinking bias
What are the control steps in the planning/control cycle? (Choose every correct answer.)
Control the direction by comparing results with the plan. Control the direction by taking corrective actions.
What are Porter's four competitive strategies?
Cost-focus Cost-leadership Focused-differentiation Differentiation
Which of Porter's four competitive strategies involves keeping the costs, and therefore prices, of a product or service below those of competitors but targets only a narrow market?
Cost-focus strategy
Smartwater is a brand of bottled water that promotes health benefits and features a unique bottle design not found in competitor brands. Based on this, which of Porter's competitive strategies is the company using?
Differentiation
Which of Porter's four competitive strategies is involved when a company offers products or services that are of unique or superior value compared to those of competitors and that target a wide market?
Differentiation strategy
When decision makers increase their commitment to a project despite negative information about it, they are experiencing which type of bias?
Escalation of commitment
Which goals meet the SMART goal characteristic of specifying a target date? (Choose every correct answer.)
File tax return by April 15 Increase sales by the end of the first quarter
Which Porter's competitive strategies are appropriate when addressing a narrow market? (Choose every correct answer.)
Focused-differentiation Cost-focus
Which of Porter's four competitive strategies involves offering products or services that are of unique and superior value compared to those of competitors and targets only a narrow market?
Focused-differentiation strategy
Many fast-food chains have operations in foreign countries because these restaurant corporations allow a foreign company to pay a fee to use the name of the fast-food restaurant. The foreign company would also need to pay a share of the profits to the fast-food corporation. What type of situation does this describe?
Franchising
Referring to Figure 4.1, which method of international expansion has the lowest risk?
Global outsourcing
One question within a VRIO analysis is, "Is the resource or capability costly for other companies to produce in the same manner?" Which aspect of the VRIO analysis does this represent?
Imitability
Sanjay knows it is costly for other companies to match the quality of his company's table linens, and this provides him with a competitive advantage. Which part of a VRIO analysis is Sanjay basing his opinion on?
Imitability
In addition to value, what characteristics are being addressed in a VRIO analysis? (Choose every correct answer.)
Imitability Organization Rarity
Which are examples of devices countries use to exert trade protectionism? (Choose every correct answer.)
Import quotas Embargoes Tariffs
What is an example of an organizational weakness based on a SWOT analysis?
Inferior product quality
When conducting VRIO analysis, what question should you ask when considering the organization and its effect on a potential resource or capability?
Is the firm organized to exploit the resource or capability?
Which of the following questions is NOT one of the questions used in Bagley's ethical decision tree?
Is the proposed action a benefit to our competitors?
What are specific reasons why organizations should adopt planning and strategic management? (Choose every correct answer.)
It encourages new ideas. It provides direction and momentum. It helps the firm develop a sustainable competitive advantage.
What effect has the Internet had on Porter's fifth competitive force, rivalry among competitors?
It has intensified rivalries among organizations.
What are reasons for global outsourcing, or offshoring, to a foreign supplier? (Choose every correct answer.)
It has resources not available in the U.S. It has labor that is cheaper than American labor. It has special expertise.
Which of these employees is involved in an ethical dilemma?
Jonah is deciding if he should add two hours to his time sheet for travel to a client meeting because his company does not reimburse for travel time.
Which employee is demonstrating ethical behavior?
Jordan did not accept a gift from his salesperson because he could tell it was a bribe to get him to buy products from the company.
Which techniques are effective ways to reduce the escalation of commitment? (Choose every correct answer.)
Make decision makers aware of the costs of persistence. Rotate managers in key positions during a project. Set minimum performance targets and compare performance results.
There is currently a trend known as "reshoring" in the fashion industry. What is occurring with this trend?
Manufacturers are moving production of garments back to the US to respond more quickly to consumer trends.
Which of the following managers demonstrates the management function of planning (in contrast to organizing, controlling, or leading)?
Maribeth who determines that her sales staff needs to contact twenty new customers each month to meet department goals
What are characteristics of SMART goals? (Choose every correct answer.)
Measurable Results-oriented Specific Attainable Have target dates
One method of reducing the escalation of commitment is to measure performance against which metric?
Minimum performance targets
Which of these situations provides an external opportunity that the company may exploit to gain competitive advantage?
Monica's rare book company has weak competition.
Which of these represent measurable goals?
No more than 50% of cars should be sold below MSRP. Customer service agents should improve customer relations by making 10 follow-up calls each week.
When considering SWOT analysis, what is an example of an organizational weakness?
Obsolete technology
After completing his competitor analysis, Justin realized his company was the only one with all-natural ingredients in their pizza crust and could use this to get the pizza into more health food grocery stores. What aspect of a SWOT analysis has Justin uncovered?
Opportunity
Miles is a managing partner at Winslow Financial Services and is analyzing a new investment product the company would like to offer. He isn't sure the company has the right software systems in place to offer the product. What aspect of the VRIO analysis is Miles considering to make his decision?
Organization
What are companies involved in a franchise deal required to do? (Choose every correct answer.)
Provide a share of the profits to the brand name company Pay a fee to use the brand name of a company
Which are processes used in screening employees for their ethics?
Reference checking Personality testing Integrity testing
Apple's iPhone competes with offerings such as Google's Pixel phone and each company continually attempts to leapfrog the others' technology. This demonstrates which of Porter's competitive forces?
Rivalry among competitors
Which of the following represent competitive forces used in Porter's model for industry analysis? (Choose every correct answer.)
Rivalry among competitors Bargaining power of suppliers Threat of substitute products or services Threats of new entrants
A ______ goal is one that is specific, measurable, attainable, results-oriented, and has target dates.
SMART
Match the BCG matrix category (on the left) with its description (on the right). Instructions
Stars-High growth and high market share Question marks-Risky new ventures Cash cows-Slow growth but high market share Dogs-Low growth and low market share
In which phase of the planning/control cycle does a company have the opportunity to get a project back on track if it is failing to meet assigned objectives?
Step 4 - Control the direction by taking corrective action
Which of these is another term for hindsight bias?
The "I-knew-it-all-along" effect
Which scenario is an example of an import quota?
The US limits the amount of raw sugar that can be brought in from other nations
Which of the following is an accurate description of decision making?
The process of identifying and choosing alternative courses of action
According to Bagley, what should businesspeople use as a guide for making good ethical decisions?
Their own sense of right and wrong
Of the many reasons companies decide to expand internationally, what do all the reasons have in common?
They help the company make or save money.
You own a small deli near campus and learn that the university is exploring whether it should open a Subway sandwich franchise in the student union. Which of Porter's competitive forces does this represent for you?
Threat of new entrants
Sasha has run a small diner near the train station for the past ten years. Six months ago, a chain restaurant serving gourmet burgers and sandwiches opened up near him and he has had to rethink his menu. He added some specialty sandwiches and free fries with every burger in order to retain his customers. Which of Porter's five competitive forces has affected Sasha's business?
Threats of new entrants
Joan runs a drop-in play center and until recently she was the only business in town where families could find reasonably-priced entertainment for their children. Joan learned that two fast-food restaurants with play areas are being built nearby so she is coming up with ways to convince her customers that her center is preferable. Which of Porter's five competitive forces is Joan specifically worried about?
Threats of substitute products or services
The growing popularity of reading news online has significantly reduced the sales of print copies of US newspapers. Which of Porter's five competitive forces does this demonstrate?
Threats of substitute products or services
What is outsourcing?
Using suppliers outside the company to provide goods and services
A mission statement addresses which question?
What is our reason for being?
Which statement best describes geocentric managers?
What's best is what's effective, regardless of origin.
When would a company use a VRIO analysis?
When deciding whether or not a new product might work in the marketplace
When are directors, managers, and employees most likely to engage in unethical behavior?
When they feel compelled to put company interests ahead of their own sense of right and wrong
Adieu Enterprises, based in Toronto, decides to expand into the South American market. To do so, it establishes a separate operation in Brazil that is owned and controlled in its entirety by Adieu. Which form of expanding internationally does this represent?
Wholly owned subsidiary
What term is defined as a foreign subsidiary that is totally owned and controlled by an organization?
Wholly owned subsidiary
Which of the following represents an ethical challenge?
Zeynep's company uses only green materials, but he is tempted to use a cheaper supplier whose products are not environmentally friendly.
In order to protect its domestic industry, Mexico might assess a tax on canned tuna that is imported from other countries. This tax is an example of _______.
a tariff
Which of the following verbs would be appropriate for a results-oriented goal?
acquire complete decrease
When an organization is able to produce goods or services more effectively than competitors and thereby outperform them, it has achieved a competitive ______.
advantage
Which racial or ethnic groups in the United States are expected to increase in terms of percentage of the population over the next few decades?
african-americans asians hispanics
Which of these individuals is an example of a top manager?
aisha is the CEO of a furniture manufacturing facility
In 2012, European countries refused to import oil from Iran. This refusal is an example of _____.
an embargo
One way to protect US makers of refrigerators from international competition is to limit the number of foreign-made refrigerators that can be imported into the country. This would be an example of ______.
an import quota
Sam gave employees a 5% raise last year and expects to give the same raise this year, even though it will push his company's salaries above what is normally paid in the industry. This is an example of the ______ bias.
anchoring and adjustment
Samantha had never traveled to New York City before, but she had been on a recent business trip to Houston. When she learned that the hotel room she wanted in New York City cost $300 per night, she was shocked because she thought the hotel rooms would be priced similarly to those in Houston. This is an example of the ______ bias.
anchoring and adjustment
Goals that are challenging but are realistic and achievable within the scope of the resources available to a company satisfy which aspect of SMART goal criteria?
attainable
The assembly line at the ice cream production facility used to have 20 workers. It now has 10 employees and 10 robots to do the job. The robots are an example of ______.
automation
Companies pursuing a cost-leadership strategy keep costs/prices ______ those of competitors and target a ______ market.
below; wide
Stores of data so vast that conventional database management systems cannot handle them are known as
big data
Which employee is the best example of a functional manager?
brett, who is the manager of the companys accounting department
Business units that have slow growth but high market share are considered to be ______ by the BCG matrix.
cash cows
In terms of SMART goals, an "attainable" goal is ______.
challenging but achievable
The purpose of a code of ethics is to ______.
clearly state top management's expectations for all employees
An organization's ethical _____ represents employees' perceptions about the extent to which the work environment supports ethical behavior.
climate
A formal set of standards guiding an organization's actions is called a _____.
code of ethics
An organization's ability to produce goods or services more effectively than its competitors is referred to as its ______.
competitive advantage
The ______ bias occurs when people seek data to support their point of view and disregard information that does not support it.
confirmation
Tyler has never gotten along with his employee Marcus. Although Marcus has been a top performer during his three years with the company, Tyler tends to fixate on the one quarter when Marcus performed poorly. Tyler uses that quarter as an example of Marcus being a "poor fit" with the company. What type of bias is this an example of?
confirmation
What term is used when benefit to yourself or someone close to you interferes with your ability to make a business decision?
conflict of interest
The company president meets with senior managers to determine what is causing a problem with the company's best-selling computer microchip. They discuss whether the cause might be a modification that was made in the manufacturing process. Which management function is the group performing?
controlling
The managerial function of ______ involves monitoring performance, comparing it to goals, and taking corrective action when needed.
controlling
Computer maker Dell tries to have the lowest prices for its computers in order to attract a large consumer group. In Porter's four competitive strategies, this would be an example of the ______ strategy.
cost-leadership
Middle managers are said to have "high-touch" jobs because they _____.
deal directly with people
A _____ is a choice made from available alternatives.
decision
A graph of decisions and their possible consequences used to create a plan is known as a(n) ______.
decision tree
At the human resource conference, Heidi attended a presentation on how to maximize the contributions of employees of different genders, races, ethnicities, and age groups. This presentation was about managing for _____.
diversity
The practice of a foreign company exporting products abroad at a lower price than in the home market as a way to drive down the price of the domestic product is called _____.
dumping
Alison sells her one-of-a-kind, handmade beaded jewelry online. That means that Alison is involved in _______.
e-commerce
The buying and selling of goods or services over computer networks is known as _______, whereas _______ involves using the Internet to facilitate every aspect of running a business.
e-commerce; e-business
In order for an organization to maintain a competitive advantage, it must stay ahead of its competition in customer responsiveness, innovation, quality, and _______.
efficiency
It is the goal of the managers at Trevor's company to rework the production line so that it produces as many automobile parts as quickly as possible with its current workforce. This is an example of improving _____ to gain competitive advantage.
efficiency
Producing goods and services with as few resources as possible in as little time as possible is referred to as _______.
efficiency
NAFTA was intended to _____ the trading bloc.
eliminate nearly all of the tariffs and quotas for
A complete ban or prohibition of trade of one country with another is called a(n) _____.
embargo
An organization's internal stakeholders consist of
employees, owners, and the board of directors.
Ramona is bidding on an auction item against several other people. She knows the bid is already too high, but she doesn't want to give up, so she continues bidding. This is an example of the ______ bias.
escalation of commitment
A(n) _____ dilemma is a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal.
ethical
Behavior that is accepted as proper according to a society's prevailing values is known as _______ behavior.
ethical
Gordon would like to win back his customer by giving him tickets to a major league baseball game, but he knows his company frowns on this type of activity. Which type of dilemma is Gordon facing?
ethical
When using the ethical decision tree, management should consider whether a proposed action is both legal and ______.
ethical
An organization's standards of right and wrong that influence employee behavior are referred to as _______.
ethics
Organizations can promote _____ by creating a strong ethical climate, screening prospective employees, and instituting ethics codes and training programs.
ethics
Managers who are ______ believe that their native country, culture, language, and behavior are superior to all others.
ethnocentric
In a SWOT analysis, an organizational threat will come from the company's ______ environment.
external
People who are outside an organization but are still affected by the organization are called the ______.
external stakeholders
Ethical standards do not vary among countries or cultures.
false
Ferrari and Lamborghini automobiles are marketed based on the cost-focus strategy.
false
It is always profitable for a company to expand internationally when it has the means to do so.
false
What are ways you can build meaningfulness into your life? (Choose every correct answer.)
find a way to build your natural strengths into your personal and work life identify activities you love doing go out and help someone
An organization that wishes to achieve a competitive advantage through innovation should ______.
find creative ways to deliver new or improved goods and services
In terms of management levels, managers who make short-term operating decisions and direct the tasks of nonmanagerial personnel are called _______ managers.
first-line
Salvador supervises ten sales associates at a large retail store. What is Salvador's management level?
first-line
Specialty manufacturers with high-end products such as Tesla automobiles offer products that are of unique and superior value compared to those of competitors. These companies target a very narrow market and are using the ______-differentiation strategy, one of Porter's competitive strategies.
focused
Bob was unsure how his boss was going to react to his proposal, so he was careful to put an upbeat "spin" on the situation to emphasize the positive aspects rather than the negative aspects. Bob's method of presenting the situation demonstrates the ______ bias.
framing
The tendency of decision makers to be influenced by the way a situation or problem is presented to them is referred to as the ______ bias
framing
Nations are easily able to trade with one another when there aren't any political or economic obstructions hampering the process. This is known as _____.
free trade
The ability to move goods and services among nations without any political or economic obstruction is called _____.
free trade
Gerard is responsible for only one activity in his organization—the management of the human resources department. He would be classified as a
functional manager
Managers who are responsible for several organizational activities rather than just one are called ______ managers.
general
Tyler, a top manager at his company, is in charge of finance and human resources. Since he is responsible for several activities in the organization, he is an example of what type of manager?
general
Managers who are ______ accept that there are differences and similarities between home and foreign personnel and practices. These types of managers believe that they should use whatever techniques are most effective to get the job done.
geocentric
Managers who are ______ believe that native managers in the foreign offices best understand native personnel and practices, and so the home office should leave them alone.
geocentric
Meaningfulness is associated with _____ rather than _____.
giving; taking
A US company that chooses to use suppliers outside of the United States to provide labor, goods, or services, is practicing _______.
global outsourcing
After purchasing a small company in China, Linda's US-based company trained all of its employees on Chinese business customs so they would be able to communicate properly with their new coworkers in China. Linda's company was responding to the results of ______.
globalization
Expanding operations in countries where verbal expressions and gestures do not have the same meaning illustrate one of the main challenges of managing for _______.
globalization
In business, a specific commitment to achieve a measurable result within a stated period of time is called a ______.
goal
A form of a foreign subsidiary that is built from scratch by the owning organization is called a _____.
greenfield venture
In order to expand internationally, Bolt Energy Corp. based in Houston, decides to build a new energy plant in Finland rather than purchase an existing company. What format is this company using to expand internationally?
greenfield venture
The tendency of people to view events as being more predictable than they really are is referred to as ______ bias
hindsight
What tool can a government use to prevent the practice of dumping?
import quotas
In the __________ approach to solving ethical dilemmas, there is the assumption that people will act ethically in the short run to avoid others harming them in the long run.
individual
One flaw in the _____ approach to ethical decision making is that one person's short-term self-gain may not in fact be good for everyone in the long term.
individual
Porter's five competitive forces form a model for ______ analysis.
industry
Organizations must be careful not to become complacent, particularly when their competitors are coming up with creative ideas. This highlights the importance of ______ in achieving competitive advantage.
innovation
The people inside of an organization who have an important stake in how it performs are the organization's _____ stakeholders.
internal
Which descriptions accurately characterize artificial intelligence (AI) in the workplace? (Choose every correct answer.)
it can be applied both to blue-collar and white-ccollar skills it includes using computer systems to mimic human reasoning.
What type of business practice is in use when a US firm partners with a foreign company to share the risks and rewards of starting a new enterprise together?
joint venture
One consideration of the _____ approach to ethical decisions is whether an organization's policies, such as those governing promotions or sexual harassment, are administered impartially and fairly regardless of employee gender, age, ethnicity, religion, disability, or sexual orientation
justice
Which approach to deciding ethical dilemmas asserts that an ethical decision should be guided by respect for impartial standards of fairness and equity?
justice approach
In his annual convention speech, the founder of a medical research organization reminded all the employees of the importance of their work in finding a cure for pediatric diabetes. He praised them for their dedication and urged them to continue their work. Which management function did the founder perform in his speech?
leading
Motivating, directing, and otherwise influencing people to work hard to achieve the organization's goals is the definition of which management function?
leading
What are the types of goals in business? (Choose every correct answer.)
long-term and short-term
Louisa enjoys her professional career but gets the most joy from helping out at the homeless shelter in her community every Tuesday after work. The joy Louisa feels from helping out is an example of _____.
meaningfulness
What term is defined as the sense of belonging to and serving something that you believe is bigger than the self?
meaningfulness
Those who implement the policies and plans of top management above them and supervise and coordinate the activities of the first-line managers below them are called:
middle managers
The question "what is our reason for being?" should be answered by the organization's ______ statement.
mission
The _____ approach to ethical decision making is guided by respect for the fundamental rights of human beings.
moral-rights
Polycentric managers believe that ______.
native managers in foreign offices should understand native personnel and practices and be left alone by the home office
A disposable diaper manufacturer hopes to capitalize on a foreign country's high birth rate by introducing its product line in that nation. Which of the reasons for expanding internationally does this demonstrate?
new markets
When companies find that a product's demand is declining domestically, they may expand internationally in order to tap into ______.
new markets
The majority of a company's workforce is made up of _____.
nonmanagerial employees
Environmental factors that an organization may exploit for competitive advantage are called organizational:
opportunities
Skate/24 had only one competitor in the local market and that competitor just went out of business. In a SWOT analysis, this is an example of an organizational ______ for Skate/24.
opportunity
In the new department she is setting up, Shondra decides that top managers will report to her and that everyone else will report to the head of human resources. Which of the management functions is Shondra performing when she makes this decision?
organizing
Using suppliers outside of the company to provide materials to make goods and services is called _____.
outsourcing
The ______ bias occurs when people's positive feelings about their own decision-making ability is greater than their objective accuracy.
overconfidence
You fall prey to the overconfidence bias when you ______ your knowledge or expertise in a decision situation.
overestimate
Another way to describe ethnocentrism is as a narrow view in which people see things solely through their own perspective. This is called _____.
parochialism
The organizing function of management consists of arranging tasks, ______, and other resources needed to accomplish work.
people
Caliana manages the warehouse for United Processors Inc. At the beginning of each year, she determines the department goals for the next 12 months. Which of the four management functions is she performing when she sets these goals?
planning
Making the plan and carrying out the plan represent the two ______ steps in the planning/control cycle.
planning
Setting goals and figuring out how to achieve them describes the _____ function of the management process.
planning
Three benefits of ______ are that they can provide a company with direction and momentum, encourage new ideas, and help the company develop a sustainable competitive advantage.
planning and strategic management
You can use the continuous feedback loop known as the ______ cycle to ensure you're headed in the right direction once you've made plans.
planning/control
An organization has a sustainable competitive advantage when, for an extended period of time, it can ______.
produce goods and services more effectively than its competitors do
Country Fresh Ice Cream Shoppe has several competitors in the area. To have a competitive advantage, the company only uses fresh fruit delivered daily to make its sundaes and other ice cream treats -- the other ice cream stores in town use frozen fruit in their products. What is the company focusing on to have a competitive advantage?
quality
Lisette told the management team that one way for the company to maintain a competitive advantage was to consistently produce kitchen appliances that meet the expectations of the customer and perform as expected. Which aspect of gaining a competitive advantage is Lisette focusing on?
quality
The "measurable" aspect of a SMART goal refers to its ability to be ______.
quantified
The United States government has put a limit on the number and types of olives that can be imported. This limit is an example of an import _____.
quota
At first Rohan thought it was a good idea to offer a car repair pick-up service at his auto repair shop, but then he realized that most customers called Tow-It-Now Inc. and it would be difficult to match that company's service. Which part of a VRIO analysis helped Rohan evaluate this idea?
rarity
When conducting a VRIO analysis, one question that must be answered is, "Is the resource or capability currently controlled by only a few firms or no other firms?" This would determine the ______ associated with the resource.
rarity
The ______ bias reflects our tendency to generalize from a small sample or single event.
representativeness
A manager who hires all applicants who have graduated from a certain college because a particularly good employee came from that same college is an example of ______.
representativeness bias
When a country places a tariff on an imported product, it is _____.
requiring a fee be paid on the import
Athletic wear made by Under Armour is undergoing a change as the manufacturer focuses on a "local for local" initiative as it finds ways to bring manufacturing jobs back to the United States. The actions taken by Under Armour demonstrate the concept of _____.
reshoring
The moral-rights approach to solving ethical dilemmas is guided by _____.
respect for human rights
When stating a goal, it is a good idea to start with the word "To" and follow with an action-oriented verb such as "increase" or "acquire." This describes the ______ aspect of SMART goals.
results oriented
A(n) _____ is the prohibiting of trade on certain types of products, services, or technology to another country for specific reasons such as humanitarian purposes.
sanction
The United States prohibits the export of any materials that would help North Korea in its nuclear program. This prohibition is a type of _____.
sanction
What are three ways a company can promote high ethical standards?
screen prospective employees and dismiss those who are irresponsible institute a code of ethics to provide guidelines for employees create a strong ethical climate by implementing policies to be used on a daily basis
Companies may use techniques _________ such as personality testing and reference checking, to identify dishonest applicants.
screnning
The letter S in the acronym SMART goal stands for what aspect of a good goal?
specific
A company's decision to move its operations out of the country will affect its employees, owners, suppliers, distributors, and everyone else who has an interest in the business. All of these groups together make up the company's _____.
stakeholders
Which broad term identifies anyone impacted by a business, including but not limited to stockholders, employees, and customers?
stakeholders
Another name for a joint venture is a ______.
strategic alliance
The ABC car company has a superior reputation within the industry and among car buyers. When applying SWOT analysis, this company's reputation is an example of a(n) ______.
strength
Precise work processes and high-ranking customer service are examples of organizational ______ in a SWOT analysis.
strengths
The skills and capabilities that give an organization special competencies and competitive advantages in executing strategies in pursuit of its mission are called organizational ______.
strengths
Apex Enterprises spent a large amount of money to customize a pumping system it bought many years ago. A supplier is now offering a new pumping system that will save the company money in the long term. However, Apex decides to keep the older system because it has already spent so much money on the older system. What type of bias is this an example of?
sunk-cost
The ______ bias is demonstrated when managers add up all the money already spent on a project and conclude it is too costly to simply abandon it.
sunk-cost
Abusive _____ represents subordinates' perceptions of the extent to which their supervisors engage in the sustained display of hostile verbal and nonverbal behaviors, excluding physical contact.
supervision
When a company is readily able to switch to another company in order to get the raw materials it needs to make products, Porter would say that the bargaining power of ______ goes down.
suppliers
Which are elements of successful teams? (Choose every correct answer.)
support direction structure
Dell Computer uses recycled and recyclable materials in its product and packaging design in an effort to minimize damage to the environment which will help future generations meet their own needs. Dell's efforts are an example of _____.
sustainability
Meeting the needs of the present through economic development without compromising the needs of future generations to meet their own needs is called ______.
sustainability
What is considered the first law of business for achieving competitive advantage?
take care of the customer
Marietta is a store manager and notices that on rainy days, customers who have a wet umbrella feel inconvenienced deciding what do with it. Marietta decides to place a dispenser near the store entrance with complimentary plastic bags for covering an umbrella. Which aspect of competitive advantage is Marietta concerned with?
taking care of the customer
The management team gave the IT department until October 15 to complete the software installation. Which aspect of SMART goals does this deadline demonstrate?
target dates
A company's external environment consists of which two environments?
task general
A tariff is a type of _____.
tax
Who are the managers that help teams achieve their goals?
team leaders
Eileen had provided the weekly inventory report to the management team every Friday for the past four months, but she wasn't able to generate the report last week because she was attending a seminar learning how to use the new inventory software. Her boss sent her an e-mail reminding her of the importance of the report and asking her to be sure and submit it every Friday. This is an example of ______.
the availability bias
What issue does the advent of Big Data raise for governments and businesses?
the protection of the users' privacy
Newly-implemented government regulations have reduced the availability of raw materials for Blair Woodworking Corp. This would be considered an external organizational ______ in a SWOT analysis.
threat
Kurt is responsible for establishing organization-wide policies and strategies, and making long-term decisions that affect the organization as a whole. Kurt would be characterized as a _______ manager.
top
The use of government regulations to limit the import of goods and services is called _____.
trade protectionism
A decision tree is an analytical tool that can help managers understand the possible consequences of their decisions and to create a plan to reach a goal.
true
Nonmanagerial employees do not formally supervise other employees.
true
The availability bias means that your manager may give more weight to your most recent work rather than everything you have done over the course of year.
true
The ______ approach to solving ethical dilemmas involves ethical behavior being guided by what will result in the greatest good for the greatest number of people.
utilitarian
When managers use financial performance as the best definition of an ethical choice, they are taking a(n) ______ approach to organizational decisions.
utilitarian
Carlos is doing a VRIO analysis for a product his company is thinking about producing. The first question he asks is, "Does this new capability allow us to minimize the threat from the main competitor gaining more market share?" He decides the answer to this question is "yes." Which aspect of the VRIO analysis does this question answer?
value
In the large city where Cassandra lives, many people are asking for her restaurant to deliver food to their offices. Her restaurant has never delivered food before, but since so many people have requested this service Cassandra decides it is a good idea to do it. In a VRIO analysis, Cassandra has determined the ______ of this capability.
value
Values and _____ are the underpinnings for organizational ethics and ethical behavior.
value systems
_____ are the relatively permanent and deeply held underlying beliefs that help determine a person's behavior.
values
Peterson Electric Inc. has outdated manufacturing facilities. In a SWOT analysis, this would be an example of an organizational ______ of the company.
weakness
An employee who reports organizational misconduct to the public is known as a(n) _____.
whistle-blower
_____ sometimes risk their jobs by coming forward about organizational misconduct and thus need to be protected.
whistle-blowers
