Management Final 2021

In the context of organizational integration, _____ allows interdependent units to modify and adapt their actions as long as they meet the deadlines and targets required for working with others.

coordination by plan

Select the statement that is true of delegation.

It entails getting work done through others.

Why is competitive aggression, such as Tesla's drive to become the safest car factory in the world, considered to be an independent strategy to influence an organization's environment?

It is an independent response to exploit a competence or efficiency for competitive advantage.

What is the role of courage in carrying out moral judgments that could give rise to conflict?

It is necessary to take actions consistent with your ethical decisions.

_____ leadership is about creating better interpersonal processes for finding solutions.

Lateral

Select the statement that accurately represents equity theory.

People who feel inequitably treated are motivated to do something to restore equity.

Select the true statement about the planning process.

Planning is flexible enough to allow for unique circumstances and changing conditions.

In the context of the influence of psychological biases in decision making, _____ refers to a belief that one can influence events even when one has no control over what will happen.

illusion of control

A(n) __________________ involves Social Security verification, a criminal records check, and past employment and education verification.

background check

A characteristic of transactional leadership is

being dispassionate

In the context of entrepreneurship, a(n) _____ focuses on an entire venture and describes all the elements involved in starting it.

business plan

Which of the following approaches should an organization adopt for managing uncertainty in a simple and dynamic environment?

centralized and organic approach, with direct supervision

Which of the following is an independent strategy of an organization to change its current environment?

competitive aggression

A(n) _____ plan specifies actions when initial plans fail or events in the external environment create sudden change.

contingency

In addition to creation of sustainable economic development, the goal of ecocentric management includes

improvement of quality of life worldwide for all stakeholders.

According to the guidelines of goal-setting theory, the goal most likely to stimulate performance is

increased profit levels by 20 percent over the previous year's levels.

In a _____ appraisal, feedback is obtained from subordinates, peers, bosses, and often customers—every level involved with the employee.

360-degree

As early as ______, the Sumerians were engaged in various management practices, including records management of tax receipts, real estate holdings, and lists of farm animals.

5000 BC

When making ethical decisions, it is important to start with moral _____, which means one realizes that the issue has ethical implications.

Awareness

_____ is the process of assessing how well one company's basic functions and skills compare with those of another company or set of companies.

Benchmarking

Under the _____, reporting systems should give access to customers, suppliers, shareholders, associates of employees, and others who could potentially report ethical violations.

Dodd-Frank Act

"As a Fortune 500 firm and a well-established top-tier manufacturer, we operate in a challenging global environment. As a result, our culture—known as a "market" culture—is very externally positioned and control-oriented. Our strategic emphasis is toward __________," said Bud Hoskins, Chief Operating Officer.

Competitive advantage and market superiority

_____ is the information that helps managers determine how to do better than others.

Competitive intelligence

_____ are agreements between an organization and another group to exchange goods, services, information, and patents.

Contracts

_____ are used by two or more organizations working together to manage the external environment.

Cooperative strategies

_______ involves teaching managers and professional employees broader skills needed for their present and future jobs.

Development

_____ refers to a bias weighting short-term costs and benefits more heavily than longer-term costs and benefits.

Discounting the future

_____________ is(are) a fundamental source of environmental risk.

Ecologically unsustainable consumption of natural resources

________ is the tendency of an organization to identify and capitalize successfully on opportunities to launch new ventures by entering new or established markets with new or existing goods or services.

Entrepreneurial orientation

Joel and Nigel are both creative people who started their own businesses. Joel's business failed, and Nigel's business flourished. In analyzing these outcomes, Stan, a business executive and mutual friend of Joel and Nigel, noted, "Joel is an inventor, and Nigel is an entrepreneur." What is the difference between inventors and entrepreneurs?

Entrepreneurs have good knowledge and skills in management, business, and networking, whereas, inventors lack such skills.

Select a common management challenge faced by entrepreneurs.

Going global creates challenges that can make survival difficult for a young company.

Which of the following factors makes an environment unattractive for firms?

High threat of entry

Identify a difference between a mechanistic and an organic organization.

In a mechanistic organization the source of guidance is rules, whereas in an organic organization the source of guidance is personal judgment.

What is the difference between integrity-based ethics programs and compliance-based ethics programs?

Integrity-based programs instill in people a personal responsibility for ethical behavior, whereas, compliance-based programs help prevent, detect, and punish legal violations.

A(n) _________ consumer is a customer who purchases raw materials or wholesale products before selling them to final consumers.

Intermediate

Theresa Simeone, division manager, told her management team, "We will conduct a ______________ as part of our division's strategic management process. This will summarize the relevant, important facts from our external and internal analyses. Furthermore, this will identify the primary and secondary strategic issues that we face."

SWOT analysis

Why are organizations referred to as open systems?

They are affected by and in turn affect their external environments.

_____ is the acquisition or development of new businesses that produce parts or components of the organization's product.

Vertical integration

Tom Nelson, Chief Executive Officer of Quest Transportation Systems, in a strategy meeting with his executive team, told them that an effective strategy will answer several broad questions about how the organization will meet its objectives. Identify the question that is NOT among the questions that Tom identified.

Which control system should we deploy?

Sierra Jones, a progressive manager in a large manufacturing firm, told her staff, "To view environmental issues as a no-win situation is 'old school' thinking. Instead, we want to incorporate environmental values into the design and manufacture of our products. This __________________, builds brand value, and reduces costs."

achieves competitive advantage

Which of the following organizational cultures is strongly characterized by entrepreneurship, creativity, adaptability, and dynamism?

adhocracy

One of the needs postulated by McClelland is the need for _____, which is a strong desire to be liked by other people.

affiliation

An example of an entrepreneurial venture that is low innovation and high risk is

an American restaurant serving burgers and fries.

In the context of labor relations, _____ refers to the use of a neutral third party, typically jointly selected, to resolve a dispute.

arbitration

Still House Properties conducts in-house management training for its managers and manager trainees. Shirene Jones, trainer, introduces today's session, "Today we will discuss human resources management. We will focus on activities that _________________ an effective and qualified workforce. These are fundamental aspects of organizational and managerial life."

attract, develop, and motivate

Barry Micheletti, front-line manager, forecasts that the long-term demand for his employees will be less than the current supply of employees. To reconcile this imbalance, Barry will consider

attrition, layoffs, and transfers.

To meet the medical needs of a growing population of aged people, there has been an increase in entrepreneurial ventures specific for different medical problems of the aged. These ventures exemplify entrepreneurial opportunities due to

demographic changes.

A competitive advantage typically results from a low-cost business strategy or a(n) _____ business strategy.

differentiation

"Our organization chart displays _____________ (job specialization and division of labor) and ______________ (coordination of efforts by different work units)," said Leopold Grimes, director of training.

differentiation; integration

One of the four categories of business in the BCG matrix is

dogs. question marks, stars, cash cows, and dogs

Hal Winston, floor supervisor, told his workers that they should consider several factors in voting for or against the union. These factors are

economic factors, job dissatisfaction, belief that the union has power, and the image of the union.

Jason argued, "I strongly believe that everyone should promote the greatest good for himself or herself. If that happens, the well-being of society as a whole should increase." Jason is a proponent of the ethical system of

egoism

"It's no wonder that, in your first week at Smith Systems, you are confused," said Brian Foss, line supervisor. "We have a matrix management organization, and one of the disadvantages of this approach is that

employees do not have a single superior to whom they feel primary responsibility."

An advantage of using word-of-mouth recommendations to fill job positions is that

employees tend to know who will be a good fit with the organization.

John told his new employee, "You will be impressed by our company's ____________, that is, the processes by which decisions are evaluated and made on the basis of right and wrong."

ethical climate

"Now we will review the final component of our strategic management process, the strategic control system," said Rajiv Kaur. "A strategic control system will allow us to

evaluate progress relative to our strategy and take corrective action when discrepancies exist."

In _____, employees receive credits, which they "spend" by selecting medical and dental insurance, dependent care, life insurance, and so on.

flexible benefit programs

Carmen Resendez, Chief Ethics Officer, said to her ethics committee members, "When we revise our ethics code, we must follow several principles to make the code effective. One of these principles is to

focus on real-life situations to which employees can relate."

The difference between the transaction fee and intermediary models of e-commerce is that the transaction fee model charges a fee

for goods and services while the intermediary model charges a fee to bring buyers and sellers together.

In exhibiting _____ behaviors, leaders take action to ensure the satisfaction of group members, develop and maintain harmonious work relationships, and preserve the group's social stability.

group maintenance

Legitimacy in the minds of the public increases the probability of success of a new business by

helping a firm acquire other resources such as top managers, good employees, and government support.

Job analysis

helps increase the value added by employees to the organization.

For motivation to be high, expectancy, instrumentalities, and total valence of all outcomes must all be ______

high

"Are you sure you want to fill those positions with new hires and not internal recruiting?" asked Stan Bode, division manager. Bob Martinez, frontline manager, replied, "In this case, I want to do external recruiting. My team is stagnant, and outside hires will

inspire innovation."

An ethics code is likely to be ineffective when it

is long and complex, addressing all levels of behavior.

In the organizational approach of _____, the emphasis is on quality, speed, and flexibility more than on cost, efficiency, and hierarchy.

lean manufacturing

"After we got fantastic media coverage for designing the downtown stadium, developers from around the country have been calling for our services," said Tom Petersen, VP of Marketing for Premier Architects LLC. "Well, then we can afford to be choosy," said Bill Lynch, CEO. "Let's only consider projects that reflect our creative urges and our mission statement, and that are well-funded." Premier Architects is in an attractive environment due to

low customer bargaining power.

"Ty, in implementing ____________________ as the basis for performance appraisal in your department, please note that the approach has been criticized for resulting in unrealistic expectations, too much rigidity, and too much focus on short-term achievement."

management by objectives

Quid pro quo harassment occurs when a

manager denies a pay raise to a subordinate for refusing to go out on a date.

Which of the following leadership styles is associated with a clan culture?

mentor, facilitator, and parent figure

Ethics are the _____ that guide the behavior of an individual or group.

moral principles

"We are quite informal in coordinating our work at Tripoli Information Systems," said Dave Waddell, product manager. "We don't coordinate through standardization, and we don't coordinate by plan. We feel we need to talk to one another as needed and jointly figure out how to approach problems and devise solutions that are agreeable to everyone. Here we coordinate by

mutual adjustment."

"Jerry is likely to succeed as an entrepreneur," said Randolph, Jerry's long-time business mentor. "Jerry has many desirable personality characteristics, including

opportunity obsession and tolerance of risk."

A(n) _____ organization depends heavily on an informal structure of employee networks.

organic

"Our organization needs a decision that results in the best possible outcome, and a decision that will be implemented fully" thought Roger. "I'm going to involve my staff in making this decision because

participation in problem solving increases commitment to decisions."

Harriett Henderson, Chief Financial Officer, advised the business unit managers, "Ensure that your quarterly revenue reports are accurate because, to be compliant with the Sarbanes-Oxley (SOX) Act, each of you, as a senior manager, will be required to

personally sign off on financial results." Sarbanes-Oxley Act

According to Maslow's hierarchy of needs, ___________ needs are what people would seek to satisfy first.

physiological

"You are starting your career, and I'd like to show you our company organization chart," said Tammy's supervisor. "It depicts ________ and the way they are arranged. It also provides a picture of the _____________ (who reports to whom)."

positions in the firm; reporting structure

A difference between entrepreneurs and intrapreneurs is the

presence or absence of corporate support.

Empowerment is best defined as the

process of sharing power with employees that enhances their confidence in their ability to perform their jobs.

"When we launch our new, small business, we must keep costs—for rents and administrative services—very low," said Robbie. His partner, Kyoshi, responded, "Perhaps we should launch our venture in a business incubator, which is a(n)

protected environment for new, small businesses."

In the context of decision making, the role of a devil's advocate in constructive conflict is to

provide criticism and point out problems.

"Glenn enjoyed attending the managers' meetings, but the rest of us didn't because Glenn droned on and on," said Mike McCall, division manager. "After I'd had enough of that behavior, I banned Glenn from attending the meetings. Later, when I let him attend again, he resumed his droning, but I ignored him completely and went on with the meeting. From that moment on, his unacceptable behavior stopped." Mike used _________ and __________ to stop Glenn's undesirable behavior.

punishment; extinction

In the context of selection methods, _____ refers to the consistency of test scores over time and across alternative measurements.

reliability

"As we accumulate _________ such as real estate, production facilities, reputation, and know-how, our firm's performance will be enhanced," said Brianne Solomon, Chief Operating Officer.

resources

In the context of a decision-making process, _____ is choosing the first option that is minimally acceptable or adequate.

satisficing

In diversity training, skill building differs from awareness building in that

skill building aims to develop the behaviors needed to work best with one another and with customers in a diverse environment.

In the _____ approach to corporate innovation, risk takers are not punished if they fail—they keep their former jobs.

skunkworks

The ______ is the number of subordinates who report directly to an executive or supervisor.

span of control

In the context of the horizontal structure of a firm, research, legal, accounting, and human resources departments are examples of _____ departments.

staff

When organizations coordinate activities with routines and standard operating procedures, work is

standardized.

In a(n)_____, different organizations share administrative authority, form social links, and accept joint ownership.

strategic alliance

Which of the following is a way of influencing the environment?

strategic maneuvering

"Javier is a new employee and has not yet learned his job. However, he is very self-confident and motivated," said his supervisor, Sally. "Using the situational theory of leadership, I will consider his job maturity and psychological maturity before deciding whether ____________ or ___________ are more important."

task performance; maintenance behaviors

A disadvantage of the product approach to departmentalization is that

the duplication of effort is expensive.

"I'd like to take my company public via an initial public stock offering," said Chloe, "for the following reasons:

to raise capital, reduce debt, pursue other opportunities, and improve credibility."

Corporate social responsibility (CSR) is the obligation

toward society assumed by business.

The best visions for an organization are both ________ and ideal.

unique

Caring, being honest, showing loyalty, being fair, and acting with integrity are all examples of

values.

"Welcome to our international division," said Peter Brucker, Global Vice President. "You will quickly learn that changes are occurring in the global workforce, including

vanishing middle skill jobs, high demand for service jobs, and working remotely as the 'new normal.'"