Management Homework Exam 1
Zane says: ". . . I'm a long-term guy, I look at the opportunities that present themselves not in a 60-day or 6-month opportunity, but in a 6-year or 20-year opportunity." One of the ways he does this is by supplying bicycles to companies such as American Express, which give the bikes as rewards to customers. Which managerial skill does this example illustrate? A) Innovation B) Functional C) Interpersonal D) Dissemination E) Technical
A) Innovation
Which of the following best describes organizational culture? A) Organizational culture is a set of values that organization members share. B) Organizational culture is a formal statement that acts as a guide for making decisions in the company. C) Organizational culture is a management philosophy whereby organization members are held accountable for their actions. D) Organizational culture a written document in an organization that reflects the ethics of an organization.
A) Organizational culture is a set of values that organization members share.
Which of the following is FALSE about organizational culture? A) Organizational culture is generally described by all organization members in a very similar way. B) Organizational culture influences the way people carry out organization processes C) Organizational culture represents the values of an organization. D) Organizational culture can create pressure on organization members to conform.
A) Organizational culture is generally described by all organization members in a very similar way.
According to Jim Fitterling, Dow CEO, what do investors expect? A) Profits and environmental sustainability B) Sustainability C) Cash D) Profits
A) Profits and environmental sustainability
Dow's approach to social responsibility is best described by which view? A) Socioeconomic B) Classical C) Superiority D) Green
A) Socioeconomic
Which approach best describes Dow's efforts to promote environmental sustainability? A) Stakeholder approach B) Legal approach C) "Go Green" approach D) Market approach
A) Stakeholder approach
Jane Miller, Rudi's Organic Bakery's CEO, starts the discussion of culture by stating that: A) culture takes a long time to change. B) changing culture is a cost-effective strategy for a company. C)culture can be changed fairly easily in a small company. D) a focus on changing culture should be a part of every company's strategy."
A) culture takes a long time to change.
Jim Fitterling, Dow CEO, explains that the company's growth in a global economy depends upon A) innovation and the next generation of material as well as geographic growth B) maintaining efficient business operations C) understanding the ethnic backgrounds of citizens where the company conducts business D) forecasting positive economic growth in the United States
A) innovation and the next generation of material as well as geographic growth
Which of the following is more essential to higher level managers than to lower level managers? A. Conceptual skills B. Technical skills C. Interpersonal skills D. Creative skills E. Ethical application skills
A. Conceptual skills
In order to tailor a political candidate's message to the constituency in a particular area, her staff investigates the area's general age, race, gender, income, and family composition. What aspect of the external environment is the staff investigating? A. Demographic B. Political/legal C. Sociocultural D. Economic E. Technological
A. Demographic
Why is management an important discipline to study? A. Management is needed in all types and sizes of organizations, at all levels and work areas. B. Managers are needed in all organizations at every level, though they are not needed in every area or discipline. C. Managers are needed in all organizations, though not at every level or even in every area. D. Management is the same in all organizations, so studying management allows for an understanding of all organizations. E. Managers are needed in certain specialized organizations but not at every level.
A. Management is needed in all types and sizes of organizations, at all levels and work areas.
At Mary Kay Cosmetics, an annual awards ceremony is held where beauty consultants are dressed glamorously and received awards for sales goal achievements.. What element of organizational culture does this represent? A. Rituals B. Ethics C. Material artifacts and symbols D. Stories E. Language
A. Rituals
When expanding internationally, which of the following methods requires the greatest commitment of company resources? A. Setting up a foreign subsidiary B. Importing or exporting C. Global sourcing D. Licensing or franchising E. Setting up a joint venture
A. Setting up a foreign subsidiary
A U.S.-based car company is pairing with a Japanese car company to create a separate, independent organization for selling a line of motorcycles in Brazil. This is an example of ________. A. a joint venture B. importing C. franchising D. global sourcing E. exporting
A. a joint venture
A manufacturing firm in the United States is looking to find a foreign country partner to team up with to share resources and knowledge for the purpose of establishing a new product and production facility that does not involve forming a completely new company. This is an example of ________. A. a strategic alliance B. a joint venture C. franchising D. a foreign subsidiary E. global sourcing
A. a strategic alliance
Whenever DAC opens a new sales office in another country, it transfers a manager from headquarters to head up the new office, believing that foreign managers lack the expertise and skills to make the best decisions for the operation. This reflects ________. A. an ethnocentric attitude B. a global mind-set C. supranationalism D. a geocentric attitude E. a polycentric attitude
A. an ethnocentric attitude
Jeff Mendelsohn is the founder of New Leaf Paper, a company that works closely with paper mills to use recycled waste paper and environmentally friendly bleach to create high-quality stock that is used to print magazines. This is an example of social ________. A. entrepreneurship B. screening C. responsiveness D. responsibility E. obligation
A. entrepreneurship
A ________ is a multinational corporation that centralizes its management and other decisions in the home country. A. global company B. multidomestic corporation C. transnational organization D. global firm E. borderless firm
A. global company
One challenge facing today's managers is dealing with ________. A. global economic and political uncertainties B. more foreign investors, who are increasingly demanding that products be produced for their own markets C. well-understood and planned-for economic patterns D. pressure to decrease costs by decreasing distribution channels E. economic conditions that are increasingly concentrated on local markets
A. global economic and political uncertainties
Firms that want to start getting into a global market with the least amount of investment possible will most likely begin with ________. A. global sourcing B. joint venture C. exporting D. importing E. licensing
A. global sourcing
Question content area top Part 1 Target refers to its customers as "guests" and its employees as "team members." This is an example of how the company uses ________ to reinforce its organizational culture. A. language B. material artifacts and symbols C. stories D. ethics E. rituals
A. language
At the lowest level of management, frontline managers ________. A. manage the work of nonmanagerial employees who typically are involved with producing the organization's products or servicing the organization's customers B. manage the work of first-line managers and can be found between the lowest and top levels of the organization C. typically have titles such as executive vice president, president, managing director, chief operating officer, or chief executive officer D. have titles such as regional manager, project leader, store manager, or division manager E. are responsible for making organization-wide decisions and establishing the plans and goals that affect the entire organization
A. manage the work of nonmanagerial employees who typically are involved with producing the organization's products or servicing the organization's customers
Environmental uncertainty refers to ________. A. the degree of change and complexity in an organization's environment B. the number of components in an organization's environment C. the components in an organization's environment that change frequently D. the knowledge an organization needs about its environment E. a series of predictable changes
A. the degree of change and complexity in an organization's environment
Managers are a critical part of any successful organization because ________. A. they use their skills and knowledge to move the organization forward towards established goals B. they are generally good at leading by example C. they are willing to make sacrifices to nurture employees and work with them to accomplish the organization's goals, often at the expense of their own career goals D. they often have degrees and a formal education, which generally makes them better leaders than other employees E. they are most familiar with the organization, what it does, and the products or services it supplies to customers
A. they use their skills and knowledge to move the organization forward towards established goals Your answer is correct.
According to the "four functions" approach, managers' work is best described by which four functions? A. Planning, organizing, leading, and controlling B. Motivating, resolving, influencing, and communicating C. Marketing, sales, manufacturing, and production D. Deciding, planning, communicating, and recruiting E. Hiring, training, motivating, and leading
A. Planning, organizing, leading, and controlling
What is a linear economy? A) One in which products are produced, consumed, and reinvented B)One in which products are produced, consumed, and subsequently discarded C) One in which companies sell one product D) One in which profits increase linearly year over year
B) One in which products are produced, consumed, and subsequently discarded
It is generally agreed that organizational culture: A) is generally set and managed easily by the CEO. B) is not established all at once by a manager or CEO, but instead, develops slowly over time. C) is developed quickly within any organization, but especially large organizations. D) is primarily set by the employees, not by management.
B) is not established all at once by a manager or CEO, but instead, develops slowly over time.
As mentioned by Jane Miller, Rudi's Organic Bakery's CEO, and agreed upon in general, organizational culture: A) is set specifically by top management in a company. B) is often described differently by different employees. C) does not endure long term no matter what the culture is like. D) is clear and understood by all employees similarly.
B) is often described differently by different employees.
1) When considering making investments in other countries, Dow's leadership considers A) partnering exclusively with companies regardless of financial soundness B) making strategic alliances with other companies to better manage currency risk C) the availability of natural resources in the United States D) going it alone
B) making strategic alliances with other companies to better manage currency risk
Zane mentions that he has begun to use solar panels and green technology in his building. What does this action best illustrate? A)Marketing to important stakeholders B)Managing in a sustainable manner C)Making decisions as a team D)Using technical skills to improve efficiency E)Motivating employees to improve customer service
B)Managing in a sustainable manner
Zane says this about his business: ". . . the community is really the reason that we've had this success . . . So I support all the nonprofit organizations that come in . . .". As a manager, Zane is considering which aspects of a sustainable business? A)Profit margins for the next quarter B)Social aspects of the business C)Customer complaint websites D)Long-term profits for the business E)Concern for issues important to the local business community
B)Social aspects of the business
Apecs Electronics hires and promotes employees who are citizens of the host country, believing that the "locals" know best. Which global perspective does this reflect? A. Monolingualism B. A polycentric attitude C. An ethnocentric attitude D. A geocentric attitude E. Parochialism
B. A polycentric attitude
Which of the following groups would be considered to be an internal stakeholder of an organization? A. Customers B. Employees C. Government D. Community E. Suppliers
B. Employees
________ is the broad practice of managers considering the impact of their organization on the natural environment. A. The stakeholder approach B. Green management C. The legal approach D. The market approach E. Environmental activism
B. Green management
Russ, a senior manager in an engineering firm, strongly believes that a manager decides his organization's future and has a plaque on his wall that reads, "I am the master of my fate." What view of management does this reflect? A. Classical B. Omnipotent C. Symbolic D. Authoritarian E. Contingency
B. Omnipotent
Which of these statements about globalization is true? Question content area bottom Part 1 A. Globalization always improves everyone's standard of living. B. Public opinion on the benefits of globalization changes over time. C. Open borders and free markets are always beneficial to all nations. D. Globalization appears to have increased wages in the U.S. E. Political candidates who support globalization have won most recent major elections.
B. Public opinion on the benefits of globalization changes over time.
Managers will increasingly need to understand and deal with ________. A. a lack of ethical dilemmas, because the problems of the past are understood by modern corporations B. changing workplaces, ethical issues, social media, and new technology C. decreasing security issues as the modern world in general stabilizes D. stable workplaces that are unlikely to change in the near future, because it is clear they have not changed dramatically in the near past E. a slowdown in technological progress, as the limits of technological innovation are reached
B. changing workplaces, ethical issues, social media, and new technology
Social ________ is characterized by an individual or organization who seeks out opportunities to improve society by using practical, innovative, and sustainable approaches. A. responsiveness B. entrepreneurship C. responsibility D. obligation E. screening
B. entrepreneurship
Management involves coordinating and overseeing the work activities of others so their activities are completed efficiently and effectively. Efficiency means that subordinates are ________. A. increasing the production time in a manufacturing environment to ensure quality B. getting the most output from the least amount of inputs or resources, and doing those work activities that will result in achieving goals C. using any resources they need to get the job done; in other words, whatever it takes D. unconcerned with clients' rigorous demands; their role is primarily to cut costs by all means E. doing what they want—pursuing goals that they believe might be important in the future
B. getting the most output from the least amount of inputs or resources, and doing those work activities that will result in achieving goals
Environmental disasters have spurred an increasing push toward ________. A. unsustainable business practices B. green management C. the classical view D. social screening E. values-based management
B. green management
Gordon has built a lucrative small business by purchasing inexpensive kitchen gadgets from a variety of companies in China and the Far East and selling them at his booth in a popular flea market. This is an example of ________. A. a strategic alliance B. importing C. exporting D. licensing E. global sourcing
B. importing
Barnes Plating pays employees minimum wage and offers only those employee benefits that it is legally mandated to provide. This is an example of social ________. A. responsibility B. obligation C. responsiveness D. screening E. entrepreneurship
B. obligation
Before introducing a new product to the market, a food products company conducts market research to identify the lifestyles, patterns of behavior, and attitudes of consumers in the target market. This market research targets the ________ component of the external environment. A. technological B. sociocultural C. political/legal D. global E. environmental
B. sociocultural
Johnson Brothers Manufacturing believes that, although making a profit is important, it also has an obligation to its customers, employees, suppliers, and society as a whole. This demonstrates the ________ view of social responsibility. A. humanitarian B. socioeconomic C. fiscal D. classical E. philanthropic
B. socioeconomic
In his first comprehensive study, Mintzberg concluded that what managers do can best be described by looking at the managerial roles they engage in at work. What are the three roles? A. Organizing, leading, and controlling B. Interpersonal, informational, and decisional C. Collecting, receiving, and disseminating information D. Figurehead, leader, and liaison E. Entrepreneur, disturbance handler, and resource allocator
B. Interpersonal, informational, and decisional
According to Zane, it was difficult for him to empower his employees and not micromanage; however, he realized that being responsive to his employees' needs—allowing them to work independently—made them happier and more responsive to customers. Which managerial skill does this primarily illustrate? A) Measurement B)Conceptual C)Interpersonal D)Technical E)Gamification
C) Interpersonal
Dow's success relies mainly on A) investments in natural resources B) investments in the political economy of other countries C) investments in human resources and natural resources D) investments in human resources
C) investments in human resources and natural resources
When DAX Products wanted to expand and enter the Western European market, it established a small manufacturing facility and a sales office in Munich. What method of entering the global market did DAX use? A. A strategic alliance B. Licensing C. Foreign subsidiary D. Exporting E. Global sourcing
C. Foreign subsidiary
The layout of an organization's facilities, how employees dress, the kinds of automobiles provided to top executives, and office sizes are examples of which aspect of the organization's culture? Question content area bottom Part 1 A. Rituals B. Stories C. Material artifacts and symbols D. Norms E. Language
C. Material artifacts and symbols
Which of the following factors would likely be considered part of the demographics component of the general environment? A. Federal, state, and local laws B. Interest rates, inflation, business cycle stages, and changes in disposable income C. Population characteristics such as family composition, education level, and geographic location D. Societal factors such as values, attitudes, trends, and lifestyles E. Scientific and/or industrial innovations
C. Population characteristics such as family composition, education level, and geographic location
Which of the following refers to a firm participating in social actions only to the extent that it meets its economic and legal responsibilities? A. Social responsiveness B. Social responsibility C. Social obligation D. The classical view E. Socioeconomic view
C. Social obligation
In many organizations, the changing nature of work has ________. A. decreased the ability of employees to participate in decision making B. blocked employees from taking on multiple responsibilities C. blurred the distinction between managers and nonmanagerial employees D. not affected the nature of managerial positions at all E. given all employees management titles and status
C. blurred the distinction between managers and nonmanagerial employees
Cindy's Creations is a small producer of decorative napkins, placemats, and other tableware. Although all of the products are produced domestically, Cindy's Creations sells worldwide through its website. This is an example of ________. A. licensing B. a strategic alliance C. exporting D. importing E. global sourcing
C. exporting
No one at Zappos has private offices. Instead of cubicles, they have a free-flowing layout that they believe encourages collaboration. This is an example of how Zappos is using ________ to build organizational culture. A. ethics B. language C. material artifacts and symbols D. stories E. rituals
C. material artifacts and symbols
A ________ is a type of multinational corporation (MNC) that decentralizes management, hires local employees to manage its foreign operations, and tailors marketing strategies to a country's unique characteristics. A. global company B. borderless organization C. multidomestic corporation D. born global company E. multidivisional corporation
C. multidomestic corporation
A company doing business in another country decides to let the local employees and management make decisions and figure out the best way to do things because they are most familiar with the local business environment. This reflects a(n) ________ attitude. A. domestic B. parochialistic C. polycentric D. monolinguistic E. ethnocentric
C. polycentric
Social ________ is defined as a business's intention, beyond its legal and economic obligations, to do the "right thing" and act in ways that are good for society. A. obligation B. screening C. responsibility D. responsiveness E. entrepreneurship
C. responsibility
A ________ is a multinational company that has a global scope and does not consider any particular country as its base, home, or headquarters. A. strategic alliance B. joint venture C. transnational organization D. global company E. multidomestic corporation
C. transnational organization
Robert L. Katz proposed that managers need three critical skills in managing, which are ________. A. planning, organizing, motivating. B. organizing, leading, and controlling C. technical, human, and conceptual D. entrepreneur, disturbance handler, and resource allocator E. collecting, receiving, and disseminating information
C. technical, human, and conceptual
Dow CEO Jim Fitterling mentions a(n) _____ in support of companies' efforts to remove plastic waste from the oceans. A) competition B) initiative C) audit D) alliance
D) alliance
When deciding to conduct business in other countries, Jim Fitterling mentions which of the following? A) mainly the availability of natural resources in the country of interest B) correspondence between cultural values in the United States and the country of interest C) skill sets of workers in the country of interest D) the stability in the country as well as currency risks
D) the stability in the country as well as currency risks
What types of conditions influence a company's decision to avoid making business investments in other countries? A) certainty B) economic expansion in the United States and the country of interest C) economic slowdown in the United States and economic expansion in the country of interest D) uncertainty
D) uncertainty
Zane mentions that many of his competitors fail because they think they're in the "selling stuff" business not the "customer service" business. This shows that Zane understands that ________. A)employees have little to do with customer satisfaction B)employees must be trained to follow orders C)customers will go to the competitor with the lowest prices D)consistent, high-quality customer service is essential for survival E)the conceptual aspect of the manager's job is the most important
D)consistent, high-quality customer service is essential for survival
The task of organizing includes which activities? A. Setting organizational goals B. Defining marketing goals C. Monitoring and correcting work performance D. Arranging and structuring work E. Conducting performance appraisals
D. Arranging and structuring work
Which of the following components of the external environment includes factors such as business cycle stages, interest rates, and inflation? A. Political/legal B. Global C. Sociocultural D. Economic E. Technological
D. Economic
In Rob's position at Medco Pharmaceuticals, he is responsible for making organization-wide decisions and establishing organizational goals. Which of the following is most likely Rob's title at Medco? Part 1 A. Division manager B. Shift manager C. Project leader D. Executive vice president E. Office manager
D. Executive vice president
Which of the following is a global organization of more than 150 countries that deals with the rules of trade among nations? A. IMF B. OECD C. EU D. WTO E. CAFTA
D. WTO
The ________ view of social responsibility is that managers today are employees with a primary responsibility to shareholders and their single focus should be on generating financial returns. A. public expectations B. ethical obligation C. socioeconomic D. classical E. social responsibility
D. classical
A formal statement of an organization's values and the ethical rules it expects employees to follow is referred to as a ________. A. social audit B. vision statement C. policy manual D. code of ethics E. mission statement
D. code of ethics
From a broad perspective, managers are primarily involved in ________. A. increasing operational efficiency B. allocating resources C. job-specific operational tasks D. coordinating work and overseeing others Your answer is correct. E. evaluating employees
D. coordinating work and overseeing others
Recent developments such as the renegotiation of NAFTA, Brexit, the election of Trump, and the failure of the Trans Pacific Partnership (TPP) are signs of _________. A. parochialistic attitudes B. decreasing social responsibility C. growing ethnocentric attitudes D. growing anti-globalization attitudes E. decreasing uncertainty avoidance
D. growing anti-globalization attitudes
The degree to which people, themselves, believe they can control their own fates or destinies as well as accept responsibility for any consequences is referred to as ________. A. external ego strength B. internal ego strength C. values D. internal locus of control E. external locus of control
D. internal locus of control
A manager who exhibits parochialism in his or her attitudes might be expected to ________. A. believe that the best work approaches and practices are those of the home country B. have a world-oriented view that focuses on using the best approaches and people from around the globe C. believe that global businesses need to focus attention on global problems. D. not recognize that others have different ways of living and working E. have the view that employees in the host country know the best work approaches and practices for running the business
D. not recognize that others have different ways of living and working
The shared social knowledge within an organization regarding the values, traditions, and principles of its employees is referred to as its ________. A. vision B. organizational structure C. external environment D. organizational culture E. mission statement
D. organizational culture
According to the ________ view of management, managers have limited control and influence over the organization's success or failure. A. authoritarian B. contingency C. classical D. symbolic E. omnipotent
D. symbolic
The pro-globalization argument from the mid-1940s until the early 2000s was based on the idea that free trade and open borders created a benefit for all countries. This argument is based on _________. A. uncertainty avoidance B. parochialism C. social responsibility D. the law of comparative advantage E. the law of competitive advantage
D. the law of comparative advantage
The fact that managers are needed in all types and sizes of organizations, at all organizational levels and work areas, and in all global locations is known as ________. A. rewards in the workplace B. the reality of work C. the entrepreneurial exponent D. the universality of management E. cross-cultural management
D. the universality of management
Basic convictions about what is right and what is wrong are referred to as ________. A. locus of control B. ethics C. ego strength D. values E. moral development
D. values
Heather discovered that her boss was falsifying reports to the EPA about the release of harmful chemicals into the community's water supply. She confronted her boss, who told her to mind her own business. She then contacted the EPA and reported what she had learned. Heather would be described as a(n) ________. A. ombudsman B. watchdog C. social activist D. whistleblower E. monitor
D. whistleblower
Which of the following best illustrates a company with a strong organizational culture? A. Shared values within the organization are limited to the top executives. B. There is limited connection between the espoused values of the organization and the behavior of its employees. C. Employees have limited knowledge about the company's history or its founders. D. Employees have varied opinions about the organization's mission and values. E. Organizational goals and values are clear and widely accepted.
E. Organizational goals and values are clear and widely accepted.
Which of the following best describes the controlling function identified by Henri Fayol? A. A manager's job is to work with and through people to accomplish goals. This is known as the control function. B. When managers control, they determine what tasks are to be done, who is to do them, how the tasks are to be grouped, who reports to whom, and where decisions are to be made. C. Activities must be accomplished in a predetermined order—planning, organizing, leading, and controlling, with controlling always occurring last in the process. D. The tasks of planning and controlling are essentially interchangeable and produce the same outcomes. E. To ensure goals are met and work is completed as it should be, managers monitor and evaluate performance. Actual performance is compared with the set goals.
E. To ensure goals are met and work is completed as it should be, managers monitor and evaluate performance. Actual performance is compared with the set goals.
Although Abels Manufacturing has facilities in several countries, management decisions that have company-wide implications are made within the home country. Abels Manufacturing would be described as a ________. A. strategic alliance B. multidomestic corporation C. joint venture D. transnational organization E. global company
E. global company
Heineken's "Enjoy Heineken Responsibly" campaign is a global initiative to inform and educate consumers about the safe and responsible consumption of alcohol. This is an example of social ________. A. responsibility B. obligation C. entrepreneurship D. screening E. responsiveness
E. responsiveness
Employees learn organizational culture through ________. A. organizing and motivating B. collecting and disseminating information C. sales projections and feedback loops D. marketing and planning E. symbols and language
E. symbols and language
A social entrepreneur is someone who ________. A. believes that a manager's primary responsibility is to operate the business in the best interests of the stockholders B. engages in social actions because of a sense of obligation to meet particular economic and legal responsibilities C. raises ethical concerns and wrongdoing to others D. takes the light green approach to green management E. uses innovative and sustainable business practices to make the world a better place
E. uses innovative and sustainable business practices to make the world a better place
A person who informs on a person or organization engaged in an illicit or unethical activity is known as a(n) ________. A. ombudsman B. social entrepreneur C. monitor D. social activist E. whistle-blower
E. whistle-blower
