Mgt 202 Study Questions
All of the following are examples of stakeholders except -suppliers -owners -employees -governments -All of these are examples of stakeholders
All of these are examples
_____ offer space, shared services, and advice to help get small businesses started.
Business incubators
_________ is the process of measuring performance and taking action to ensure desired results
Controlling
______ involves illegal practices to further one's business interests
Corruption
_____ is a shared set of beliefs, values, and patterns of behavior common to a group of people
Culture
Equity financing involves borrowing money that must be repaid over time, with interest
False
Preferences regarding the means to desired ends are terminal values; while preferences about desired end states are instrumental values
False
_____ cohorts consist of people born within a few years of one another and who experience somewhat similar life events during their formative years.
Generational
An employee whose mind is a critical asset to employers and who adds to the intellectual capital of an organization is called a
Knowledge worker
Which of the stages of the life cycle of entrepreneurial companies is described as refining the strategy, continuing growth, and managing for success?
Maturity stage
Which of the following is NOT an organizational trend and transition relevant to the study of management? -importance of networking -emphasis on teamwork -Renewed belief in human capital -demise of "command-and-control" -old workforce expectations
Old workforce expectations
Quality of work life
The overall quality of human experiences in the workplace
_______ managers pay special attention to the external environment, looking for problems and opportunities and fining ways to deal with them
Top
Moral absolutism suggests that ethical standards apply absolutely across all cultures
True
That which is accepted as "good" and "right" as opposed to "bad" or "wrong" in the context of the governing moral code is called
ethical behavior
An attempt to impose one's ethical standards on other cultures is called
ethical imperialism
Real management learning starts with commitment to
experience and self-assessment
A __________ is a local operation completely owned by a foreign firm
foreign subsidary
Identifying strengths and weaknesses, potential costs and benefits, and potential markets or applications is step ______ of the innovation process
four
A _________ is where a business owner sells to another person the right to operate the same business in another location, under the original owner's business name and guidance
franchise
which of the following is NOT an example of an instrumental value? -courage -ambition -imagination -self-discipline -freedom
freedom
International joint ventures are types of ____________ in which foreign and domestic firms act as partners by sharing resources and knowledge for mutual benefit
global strategic alliances
Which of the following is NOT a characteristic of entrepreneurs? -high need for affiliation -tolerance for ambiguity -self-confidence -internal locus of control -high energy level
high need for affiliation
Environments with _____ rates of environmental change and _____ complexity require the greatest flexibility and adaptation
high; high
The _____ chooses to behave unethically
immoral
The process of coming up with new ideas and putting them into practice is called _____
innovation
Which of the following personality traits of entrepreneurs is defined as their belief that they are self-directing and are in control of their own destiny?
internal locus of control
The process of arousing enthusiasm and inspiring efforts to achieve goals is called
leading
Internet censorship is a condition in the ______ environment of organizations
legal-political
Trends in the new workplace include which of the following?
more attention by organizations to valuing people as human assets
The process of building and maintaining good working relationships with others who may help implement a manager's work agendas is called __________
networking
Common legal problems faced by international businesses involve all of the following EXCEPT: -offering overpriced resources -handling intellectual property rights - patents; trademarks, and copyrights -incorporation practices and business owners -negotiating and implementing contracts with foreign parties -handling foreign exchange
offering overpriced resources
Thinking about new possibilities is step ______ of the innovation process
one
Trade Tools Manufacturing (TTM) transforms resource inputs from the environment such as wood and steel into product outputs such as Rakes and Plows. TTM can be described as an:
open system
The process of management involves the functions of planning, __________, leading, and controlling
organizing
Which of the following is not counted as part of the environmental or natural capital -land -water -atmosphere -people -minerals
people
When a team leader clarifies desired work targets and deadlines for a work team, he or she is fulfilling the management function of _______
planning
Which of the following is NOT an example of a functional manager? -accounting manager -sales manager -marketing manager -plant manager -production supervisor
plant manager
If Jason is exhibiting the negative, irrational attitudes towards members of diverse populations in his department, it is called:
prejudice
If your organization's approach to corporate social responsibility is most accurately articulated as "Take leadership in social initiatives," a(n) __________ strategy is being utilized
proactive
The three Ps of organizational performance consist of which of the following
profit, people, and planet
If American firms like Walmart and other department store chains are hurt by systematic efforts by Indian government to develop policies that build their domestic companies at the expense of US firms, it is called
protectionism
Criteria for choosing joint venture partners include all of the following EXCEPT: -employment of a strong local workforce -providing financial backing -familiarity with your firm's major business -good profit potential -valuing its customers
providing financial backing
Productivity is a measure of the quantity and _______ of work produced, relative to the cost of inputs
quality
The first step in the seven-step checklist for dealing with an ethical dilemma is which of these? -double-check with the spotlight questions -decide which option to follow -take action -test each option -recognize the ethical dilemma
recognize the ethical dilemma
Performance efficiency is a measure of the ________ associated with task accomplishment
resource costs
What recognizes the potential for valuable innovations to be launched from lower organizational levels and diverse locations, including merging markets
reverse innovation
An effective manager achieves both high-performance results and high levels of ________ among people doing the required work
satisfaction
The ability to understand oneself, exercise initiative, accept responsibility, and learn from experience is called
self-management
According to the U.S. Small Business Administration (SBA), an entity with fewer than 500 employees, which is independently owned and operated, and does not dominate its industry is called a
small business
The unique form of ethical entrepreneurship that seeks new ways of solving pressing social problems is called:
social entrepreneurship
A _____ is an individual pursuing business for a profit
sole proprietorship
The accounting manager for a local newspaper would be considered a ______ manager, whereas the editorial director would be considered a _______ manager
staff, line
Which of the following terms describe a group composed of suppliers, governments, customers, owners, media, and local communities
stakeholders
How the leadership transition and related financial matters will be handled in family businesses is called a
succession plan
The manager's role in the "upside-down pyramid" view of organizations is best described as providing __________ so that operating workers can directly serve _________
support, customers
Organizations with real commitments to _____ pursue specific goals like carbon reduction, energy efficiency, ethical sourcing, and food security
sustainability
The ability to use technology and commitment to stay informed on the latest technological developments is called
tech IQ
Preferences about desired end states, for example, self-respect, family security and happiness, are known as
terminal values
All of the following are views of ethical behavior EXCEPT -utilitarian view -moral rights view -theoretical view -individualism view -justice view
theoretical view
Which of the following is NOT one of the "myths" about entrepreneurs? -they are gamblers -they must have a degree in business -all of these are myths about entrepreneurs -they are made, not born -they are young
they are made, not born
There are ______ predictable progressive stages to a small business
three
A(n) _________ is a global corporation or MNE that operates worldwide on a borderless basis
transnational corporation
The social performance of an organization can be described as driven by compliance, which is acting to avoid adverse consequences, or by conviction, which is acting to create positive impact
true
Which of these refers to the underlying beliefs and attitudes that help determine behavior?
values
Michael is an individual who exposes the misdeeds of others in his organization in order to preserve ethical standards and protect against wasteful, harmful, or illegal acts. Michael can be described as a
whistlblower
_________ report to middle managers and supervise non-managerial workers
Team leaders
___________ is a significant pathway to business growth for both individual firms and economies by providing new customer bases and expanded markets for products and services
Exporting
The family firm institute reports that family businesses account for___% of new jobs created in the US
78
Somewhere around ___% of American businesses meet the definition of "small business" used by the Small Business Administration
99
The _________ is a political and economic alliance of European countries that have agreed to support mutual economic growth by removing barriers that previously limited cross-border trade and business development
EU
Suppose Susan from USA works for a multinational company and has just arrived in a remote country in Africa for her work assignment. At the first problem she encounters in speaking the language, she exclaims loudly, "I wish everyone in this little country just spoke English like the rest of the civilized world!" Susan's behavior is an example of which of the following concepts?
Ethnocentrism
The euro is now the common _____ currency
European
Which of the following statements BEST describes a licensing agreement? -A local operation is completely owned and controlled by a foreign firm -Member countries are given rights to sell products from each other's markets -One firm pays a fee for rights to make or sell another company's products -A fee is paid for rights to use another firm's name and operating methods -A co-ownership arrangement exists with local partners
One firm pays a fee for rights to make or sell another company's products
__________ tries to forecast political disruptions that can threaten the value of a foreign investment
Political risk analysis
_____ innovation results in better ways of doing things
Process
Which of the following is not one of the personality traits and characteristics of classic entrepreneurs -pursues opportunities others may view as problems or threats -All of these are personality traits and characteristics of classic entrepreneurs -run new ventures over and over again -pursues opportunities others fail to recognize -risk-taking
Run new ventures over and over again
The requirement that a manager answer to a higher-level boss for performance results achieved by a work team is called __________
accountability
A wealthy individual willing to invest in return for equity in a new venture is called a(n) ______
angel investor
The research of Mintzberg and others concludes that managers __________
are never free from the pressure of performance responsibility
A ________ entrepreneur is someone who takes risks to pursue opportunities in situations that others may view as problems or threats
classic
A first mover advantage ______________
comes from being first to exploit a niche or enter a market
Scholars in the area of _____ management study how management perspectives and practices systematically differ among countries and cultures
comparative
Tool Makers, Inc. make garden rakes extremely well and of the best quality in the industry. Their rakes are difficult to copy, and give it an advantage over competitors in the marketplace. It can be said that Tool Makers have a
competitive advantage
Which of the following is NOT part of the general environment? -competitors -natural environment conditions -all of these are part of the general environment -technological conditions -economic conditions
competitors
Which of Katz's essential managerial skills is most important for top level managers?
conceptual skill
The management function of __________ is being performed when a retail manager measures daily sales in the women's apparel department and compares them with daily sales targets
controlling
The four strategies of corporate social responsibility include all of the following EXCEPT -obstructionist strategy -accommodative strategy -proactive strategy -corrective strategy -defensive strategy
corrective strategy
When someone holds a negative attitude toward minorities, this is an example of __________. When a team leader with a negative attitude toward minorities makes a decision to deny advancement opportunities to a Hispanic team member, this is an example of __________
discrimination, prejudice
The composition of a workforce in terms of differences among people on gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness is called workforce:
diversity