MGT 310-Ch 1

Managers who break out of the traditional corporate hierarchy to share knowledge freely are referred to as ______ managers.

"T-shaped"

What are the two possible relationships that exist between individuals and their organizations?

-individual as a passive employee -individual as an active contributor

What are the three essential categories of skills for successful managers?

-technical skills -conceptual and decision skills -interpersonal and communication skills

Which statement about sustainability in business is true?

Addressing sustainability issues can produce bottom-line benefits.

Which are essential elements of career success? (Select every correct answer.)

Be flexible, creative, and ambitious. Learn how to think strategically. Take responsibility for decisions. Focus on capturing opportunities.

______ across boundaries occurs even beyond the boundaries of the organization to include customers.

Collaboration

Being ______ is when someone has many good working relationships and interpersonal contacts and is a team player with strong interpersonal skills.

Connected

The management function of monitoring performance and making needed changes is called

Controlling

Through the management function of Blank______, managers make sure the organization's resources are being used as planned and that the organization is meeting its goals such as quality and safety.

Controlling

The ability to deal effectively with your emotions, make good decisions, and exercise self-control is referred to as

Emotional Intelligence

The ability to deal effectively with your emotions, make good decisions, and exercise self-control is referred to as ______.

Emotional Intelligence

A(n) ______ skill is the ability to perform a specialized task that involves a certain method or process.

Technical

Which statement about the six competitive advantages is true?

There are some trade-offs among the six sources of competitive advantage.

Which statement about technical skills is true?

They are focused on performing specialized tasks as part of a process.

The monetary amount associated with how well a job, task, good, or service meets users' needs is called

Value

Successful managers tend to focus on ______.

all six competitive advantages

The management function of organizing includes

assembling and coordinating all resources needed to achieve goals

The best managers achieve high performance by focusing on ______.

both effectiveness and efficiency

Which of is not one of the key elements making the current business landscape different from the past?

changing values and norms

Delivering strategic value is a continual process of identifying opportunities to create, seize, strengthen and sustain a company's

competitive advantage

Delivering strategic value is a continual process of identifying opportunities to create, seize, strengthen and sustain a company's _______.

competitive advantage

In the new, highly competitive business environment, the planning function is described as ______.

delivering strategic value

Successful managers ______.

have broad responsibilities

Because companies in advanced economies have become so efficient at producing physical goods, most workers have been freed up to provide services or "abstract goods" such as software, entertainment, data, and advertising. These workers are referred to as ______ workers.

knowledge

Which level of management is responsible for translating the general goals and plans developed by strategic managers into more specific objectives and activities?

middle-level managers

Gathering and coordinating human, financial, physical, informational, and other resources needed to achieve goals is the function of management called ______.

organizing

Which management function includes activities such as analyzing current situations, anticipating the future, determining objectives, deciding in what types of activities the company will engage, choosing corporate and business strategies?

planning

The effort to minimize the use of resources, especially those that are polluting and nonrenewable, is referred to as ______.

sustainability

Select the ways in which speed is a competitive advantage for a company. (Check all that apply)

-A faster company can quickly respond to competitors' actions. -A faster organization can quickly adjust to market demands. -A faster company has a market advantage by getting product to the consumer quickly.

True or false: Firms prefer their employees to be passive rather than active.

False

Which statement about globalization is correct?

Globalization means that a company's talent can come from anywhere.

What can aid in career success, compensation, employment, team effectiveness, successful entrepreneurship, and relationships with suppliers and other networks?

social capital

Traditionally, the most common single function represented in the top management team was

strategy formulation

What is one of the most important processes of knowledge management?

to ensure that workers in an organization collaborate effectively with one another

Senior executives responsible for the overall management and effectiveness of the organization are called ______ managers.

top-level

The _______ approach to quality was to check work after it was completed and then eliminate defects, using inspection and statistical data to determine whether products were up to standards.

traditional

What are the roles and responsibilities of frontline managers? (Select every correct answer.)

-Along with the nonmanagement employees, they implement the specific plans developed with middle managers. -They supervise the operations of the organization.

Why is being socially connected to others important to a management career? (Select every correct answer.)

-Being socially connected improves leadership and management skills. -Social relationships improve knowledge of the organization, jobs, integration into the firm, and commitment to the organization. -All business is a function of human relationships.

What are the emotional intelligence skills needed to manage teams and advance your personal career? (Select every correct answer.)

-Deal effectively with others by listening, showing empathy, motivating, and leading. -Manage yourself in dealing with emotions, making good decisions, seeking and using feedback, exercising self-control. -Understand yourself, including your strengths and weaknesses.

Select the components that are part of total quality management. (Check all that apply.)

-Designing products for quality -Achieving zero defects in manufacturing -Preventing defects before they occur -Operating with a philosophy of continuous improvement

What are some of the ways technological change has impacted management? (Check all that apply.)

-It improves the efficiency of decision making. -It improves access to information. -It speeds up globalization.

Which statements about generalists and specialists are correct? (Select every correct answer.)

-It is recommended to be both a specialist and a generalist. -Generalists are knowledgeable about a variety of disciplines. -Specialists are experts in something.

Which statements about the controlling function of management are true? (Select every correct answer.)

-It makes sure that organizational goals are met. -To be successful, close attention must be paid to this function.

How are "people skills" important to success as a manager? (Select every correct answer.)

-The ability to lead, motivate, and communicate effectively with others depends on "people skills." -"People skills" are important to move to top-level management. -Managers spend a great majority of their time interacting with people so "people skills" are essential.

What are the roles and responsibilities of successful managers? (Select every correct answer.)

-They are able to think strategically and translate strategies into objectives. -They focus on serving customers both inside and outside their firm. -They have knowledge of all business functions. -They are accountable for results.

Which statement about T-shaped managers are true? (Check all that apply.)

-They are committed to the bottom-line performance of their business units. -They share knowledge freely across the organization.

Which of the following are common practices for successful executives? (Select every correct answer.)

-They write an action plan. They don't just think, they do, based on a sound, ethical plan. -They take responsibility for decisions. -They ask "What needs to be done?" rather than only "What do I want to do?"

What are the expectations placed on top managers today, unlike those placed on traditional top-level management positions in the past? (Select every correct answer.)

-Top managers today are expected to be true organizational leaders. -Top managers today are expected to create and articulate a broader corporate purpose with which people can identify and commit to.

Which statements about must-have management skills are true? (Select every correct answer.)

-Without technical, conceptual, and communication skills, a manager will not succeed. -Managers need a variety of skills to perform their roles well.

What happens if as a manager, you fail to perform all four management functions? (Select every correct answer.)

-You may not know if you are headed on the right track in meeting goals. -You may fail to inspire employees to perform at high levels. -You will not reach your full potential as a manager.

Developing specific quality requirements helps companies ______. (Check all that apply.)

-deliver world-class value -set precise performance standards -target needs -identify problems

What do top-level managers in an organization do? (Select every correct answer.)

-focus on long-term issues -emphasize the survival, growth, and overall effectiveness of the organization

Which principles of organizing are effective managers adopting in order to build a dynamic organization? (Select every correct answer.)

-organizing firms that are flexible and adaptive -viewing people as the most valuable resource -implementing human resource practices that attract a diverse population

Select all the activities performed by middle managers. (Select every correct answer.)

-serve as translators of internal communication -interpret top management's priorities downward -break down company objectives into business unit targets

Organizing activities include which of the following? (Select every correct answer.)

-specifying job responsibilities -grouping jobs into work units -hiring people for the organization -marshaling and allocating resources

True or false: Top managers' sole concern should be with the day-to-day functioning of the organization.

False

Which reason best explains why companies are operating globally?

Increased opportunities for growth

A manager's use of conceptual and decision skills ______ with greater responsibility.

Increases

Select the items that are considered to be services. (Check all that apply.)

Insurance Haircuts Medical care

Which statement about cost competitiveness is true?

It is important because a desirable product sold at a lower price is more likely to sell.

What must an organization do to effectively create value?

It must fully consider a new and changing set of stakeholders and issues.

The ability to motivate and communicate effectively with employees is called

Leading

The management function that involves the manager's efforts to stimulate high performance by employees is called

Leading

Traditionally, the______ function involved managers motivating workers to show up for work and execute top management's plans by doing their jobs.

Leading

Which of the following statements is false concerning leading?

Leading takes place in top and executive management positions exclusively.

Which statement about managing in a competitive world is true?

Management must adapt to new circumstances when facing a challenging economy.

What is the management function of specifying the goals to be achieved and deciding in advance the appropriate actions to achieve those goals?

Planning

What is the role of planning for delivering strategic value?

Planning sets the stage for meeting organizational goals.

When companies customize goods and services to the wishes of their individual consumers, they are focusing on ______.

Quality

_____ is the excellence of a product, whether it be goods or services.

Quality

______ is focused on continually meeting the needs of customers to establish mutually beneficial long-term relationships.

Service

_______ means giving customers what they want or need, when they want it.

Service

_____ is the fast and timely execution, response, and delivery of results.

Speed

is the effort to minimize the use of resources, especially those that are polluting and nonrenewable.

Sustainability

Which statement about the importance of interpersonal communications skills is true?

They are important at every level of management.

Which is a true statement about middle-level managers?

They are responsible for taking corporate objectives and breaking them down into specific activities.

Which statement about innovation is true?

Without innovation, a firm will die.

When a company achieves success and is able to sustain that success because it consistently outperforms its rivals, that company has ______.

a competitive advantage

Under the "leading" function of management, managers must

be able to inspire employees to engage and contribute ideas

How does leading help to mobilize people in an organization?

by motivating and communicating with employees to help guide and inspire them to achieve team and organizational goals

The key to understanding the success of a company is the ______ the company holds and sustains.

competitive advantage

The ability to identify and resolve problems for the benefit of the organization and its members are referred to as ______ skills.

conceptual and decision

If two competing auto manufacturers came together to design a new vehicle that could harness the power of wind energy, this joint effort would be an example of ______.

coopetition

The situation that exists when companies work with rather than against their competitors is called ______.

coopetition

The process of keeping costs low in order to achieve profits and to be able to offer prices that are attractive to consumers is called ______.

cost competitiveness

Walmart continually looks for ways to cut costs and efficiently manage its workforce in order to maintain its ______.

cost competitiveness

Which of the following are among the ways that quality can be measured? (Check all that apply.)

customer service reliability product performance

In order to remain competitive in a global economy, companies in the United States must be able to offer consumers something foreign competitors cannot, and most of the time that means companies must ______.

deliver something new and innovative

Which activity is considered a planning activity?

determining the resources needed to achieve the organization's goals

Done properly, sustainability allows people to live and work in ways that can be maintained over the long term without harming which of the following resources? (Check all that apply.)

economic social environmental

To be _______ is to achieve organizational goals.

effective

The skills of understanding and managing yourself are known as

emotional intelligence

Which is an example of an intangible product that is considered a service?

entertainment

Successful managers are building dynamic organizations whose structures are ______, particularly in response to competitive threats and customer needs.

flexible

Typically, ______ managers are the link between management and nonmanagement personnel.

frontline

In order for a company to provide world-class quality, the company must ______.

fully understand what quality really is

Because facilities in other countries can manufacture goods or write software at a lower cost than companies in the United States, U.S. firms must provide something that its foreign competitors cannot. This shows how the need for innovation is driven in part by ______.

globalization

What is needed in order for companies to identify problems, target needs, and deliver world-class value?

identification of specific quality requirements

The importance of quality and the standards for acceptable quality have ______ dramatically in recent years.

increased

The introduction of new goods and services is known as ______.

innovation

Top-level managers are concerned not only with the organization as a whole but also with

its interaction with the external environment

An employee whose primary contributions are ideas and problem-solving expertise is known as a ______.

knowledge worker

Frontline managers are ______

lower-level managers who supervise the operational activities of the organization

The process of working with people and resources to accomplish organizational goals is referred to as ______.

management

Wayde is responsible for working with his team and resources, making sure each member is doing his or her job, and that his team is focused on accomplishing organizational goals. Wayde is most likely a(n) ______.

manager

A(n) ______ manager puts together separate business unit plans from the units below them for higher-level corporate review

middle-level

Which management function includes activities such as attracting people to the organization, grouping jobs into work units, and allocating resources?

organizing

To which of the managerial functions should managers devote adequate attention and resources?

planning, organizing, leading, and controlling

Starbucks' decision to offer its customers thousands of variations on the drinks they can order is a customer-driven effort to improve the ______ of products they offer.

quality

When you take full responsibility for yourself, your actions, and your career, you are ______.

self-reliant

How can companies like Walmart increase their cost competitiveness?

sell desirable products at lower prices

Traditionally, the most common single function represented in the top management team was ______.

strategy formulation

What is the definition of controlling?

supervising performance and making needed changes

What are frontline managers also commonly referred to as? (Select every correct answer.)

supervisors lower-level managers operational managers

The management function of planning is ______.

systematically making decisions about the goals and activities that an individual, a group, a work unit, or the organization will pursue

The challenges of technology come from the rapid rate of change in ______. (Check all that apply.

transportation communication information

The better you meet users' needs, the more ______ you deliver.

value

Managers use conceptual and decision skills ______.

when considering a company's overall strategy