principles of managment midterm

organizing

assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.

control systems

detect and correct significant variations, or discrepancies, in the results of plans and activities.

Empowerment is important in organizations today because

management has changed

decentralized organizations

more decisions are made at lower levels of management.

star

most desired position within the BCG matrix.

delegation

new or additional responsibilities to a subordinate are assigned.

Standards

targets that establish desired performance levels, motivate performance, and serve as benchmarks against which to assess actual performance

top-level, middle-level, frontline, and team leader.

the four levels of managers found in large organizations are

span of control

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

capital budget

used for the cost of fixed assets like plants and equipment

Benchmarking

used to assess how well one company's basic functions and skills compare with those of another company or set of companies

question marks

Startups in the Internet industry are often considered

leading

When Fair Oaks management shares its vision with its 300-plus employees and seeks feedback, it is able to influence employees and gain buy-in from them. Which managerial function is the company performing?

In the context of a firm's vertical structure, a powerful trend for U.S. businesses over the past few decades has been to

reduce the number of hierarchical layers

concurrent

Threadless receives immediate customer feedback on specific promotions through online orders. What type of control does this represent?

master

Threadless sets an annual budget for the next year after the end of the current year's holiday season. The process includes reviewing the current budget and setting goals for the next year. Since this annual budget includes all the major activities of Threadless, it is most likely a(n) __________ budget.

cost

Threadless switched to 100% on-demand printing, allowing vendors to print one shirt at a time (instead of bulk) and to send the shirt directly to customers. Threadless never has to actually touch the product, reducing its expenses. Which common measure of performance standards does this represent?

all

To become an effective manager, one should choose __________ of the four management functions and commit one hundred percent.

selling

What is the appropriate leadership style for an employee who is low in skills but is anxious to learn?

Differentiation is more likely to occur.

Which of the following is a danger to having a competitive culture where employees "own" their specific piece of the business?

limited time

Which of the following is most likely a reason Ava is satisficing?

following

Which of the following is not a leadership style?

authority to make the decision

Which of the following is not an advantage to including the mayor and police chief in the decision-making process?

The decision maker ended up making the decision.

Which of the following is true about the effects of the time pressure the group was facing?

Staff for Human Resources

10. Joel is responsible for job analysis and for screening résumés and candidates and for conducting initial interviews.

Vice President of Human Resources

2. Cassie ensures the company meets EEOC guidelines.

President/CEO

3. Colleen provides strategic planning for the organization.

Vice President of Marketing

4. Catherine is responsible for sales, promotion, and communication.

taking corrective action

After comparing performance to standards, what is Leo not doing?

cost

Amount of jet fuel for a flight from Minneapolis to Los Angeles. Hint: dollar expenditure.

bureaucratic; clan

Amy and Mike seem to be advocating that control be __________ while Leo believes it should be __________.

concurrent

Amy asks Leo why he does not "have people on the line manually checking batteries as we go?" What type of control is Amy advocating for?

competence; motivation

An employee's developmental level is a function of their __________ and __________.

principle of exception

Assume Leo's manufacturing line was producing close to the company's goals, but just slightly under. If Amy and Mike still complain about Leo's control of the line, they would be violating which of the following?

She quickly jumped to the solution of ordering an evacuation

At the beginning of the video, Ava does not properly follow the third step of the formal decision-making process. What did she do wrong?

dog; star

Currently, the companies Kodak and Google are examples of __________ and __________ positions, respectively.

long-term goal.

Designing an affordable, energy-efficient car in the next four years is a

achievement-oriented

During the attacks of September 11, American Express lost 11 employees and suffered major damage to its headquarters. Chenault gathered his employees in Madison Square Garden and declared that the company was "sound" and "will overcome" the tragedy. Based on Path-Goal Theory, what style of leader behavior does this represent?

low costs help increase your sales

Fair Oaks Farms' manure management, specifically the use of cow manure to power their facilities and fuel their milk tankers, is most closely related to which source of competitive advantage?

heirarchal

For organizations, the formal planning model is generally __________, with top-level strategies flowing down through the levels of the organization into more specific goals and plans.

wide

Freshii emphasizes a lean management structure. This means that span of control at Freshii is generally what?

decentralized.

Freshii headquarters uses a flat organization, which means decision making is more

balance sheet

If you were conducting an audit of Threadless and wanted to know how much assets they have, you would most likely look at which of the following statements?

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.

To continue their success, they should maintain a clear focus on both effectiveness and efficiency, especially while their company is experiencing such a high growth in sales.

Labyrinth is a new, very successful, brand of organic clothing recently introduced globally. The company is unique in the way it has collaborated with its suppliers and potential customers to bring the clothing to market. Labyrinth's founders have always focused on efficiency. What is the best advice you should give them, given the quick success they have had with Labyrinth?

relationship between empowerment and control

Leo believes that Amy and Mike's ideas will diminish the importance of which effective control system criteria?

participating

Michael Smith recently became the head coach of a professional curling team. While each member was highly skilled their enthusiasm for practices and games seemed to be lacking. What leadership style would be most effective in this situation?

top-level managers.

Mike and Sue McCloskey are examples of

collaboration boosts performance

Mike and Sue McCloskey make sure to share their vision with their workforce, also known as the Fair Oaks family. They also welcome feedback on this vision. This allows for different sectors of the organization to be heard, and more closely work together. Which managerial challenge is this most closely related to?

time used

Minutes it takes to restock the dairy cases in a supermarket. Hint: availability of product for retail sale.

Staff for Retail Locations

Myrna supports the work of Daniel and his team

quantity

Number of Door Dash food deliveries in a week. Hint: volume of output.

quality

Number of defective Apple watches produced during an 8-hour shift. Hint: defects.

telling involves higher levels of initiating structure.

The difference between the delegating and telling leadership styles is

profit and loss statement

an itemized financial document of the income and the expenses of a company's operations.

"My business relationship with the Midwest sales rep has really deteriorated. We used to cooperate; now we __________," said the manager of the Southwest region. "And I blame our new control system. Every month, managers across the entire enterprise get profit and loss statements for all divisions and business units. We look at one another's performance and are less likely to help one another when we know that our business unit or division may suffer a loss in profitability as a result

compete

organic organization

depends heavily on an informal structure of employee networks.

organization chart

depicts positions in the firm and the way they are arranged.

a wide span of control builds a __________ organization with few reporting levels.

flat

strategic leadership

gives purpose and meaning to organizations by anticipating and envisioning a viable future for the organization and working with others to initiate changes that create such a future.

Supervisory leadership is behavior that provides

guidance, support, and corrective feedback for day-to-day activities.

group maintenance behaviors

has a strong positive impact on follower satisfaction and motivation and also on leader effectiveness.

balance sheet

hows the financial picture of a company at a given time

The span of control should be wide when

jobs are similar, and performance measures are comparable.

dog

least desired spot in the BCG Matrix is that of a(n)

reward

A leader who has __________ power influences others because he or she controls valued benefits; people comply with the leader's wishes so as to receive those benefits.

low

A top management strategic plan has a __________ level of detail.

Staff for Marketing

7. Juan reports to Catherine.

Board of Directors

8. James is a senior executive with a local company.

Vice President of Retail Locations

9. Daniel oversees accounting and provides reports to VPs and the CEO.

outcome; roadmap

A goal provides a(n) __________ whereas a strategy provides a(n) __________.

Staff for Human Resources

5. Stanley specializes in training and development.

Board of Directors

6. Susan is the manager of a restaurant that purchases baked goods from the Cupcake Kingdom.

referent

Based on how attracted his followers were to his vision, what source of power did Chenault have at American Express?

Freshii is an organic organization.

Based on what you've learned about Freshii, which of the following would most likely be true?

charismatic

Chenault was a celebrity at American Express. He was dominant and self-confident, and created an aura of competence and success at the organization. Based on this, Chenault was most likely a(n) __________ leader.

transformational

Chenault was able to influence employees in a way that they pursued American Express's goals over their own self-interests. What type of leadership did this portray?

frontline

Operational planning is done by __________ managers.

discounting the future

The police chief mentions that unionized emergency personnel had already been deployed, so pulling them back would not be worth it. However, there may be long-term savings in pulling them back. If the police chief is looking solely at short-term costs and benefits, what type of decision-making bias would this represent?

planning

The setting of Fair Oaks Farms' mission, vision, and goals is an example of which managerial function?

operational planning

process of identifying the specific procedures and processes required at lower levels of an organization.

tactical planning

process of translating broad strategic goals and plans into specific goals and plans relevant to a particular portion of an organization

Nigel said to his manager, "Tomas, I've received an unsolicited offer from a competitor. I've enjoyed my eight years here, and I'd like to stay. But the offered salary is 20 percent higher than my current salary. The other firm cited what I have learned this past year on the public works job as a particularly valuable skill." Nigel is a highly valued employee, and Tomas has been grooming him as his successor. If Tomas were to consider market rates as an important indicator of worth in responding to Nigel, Tomas would most likely

seek to retain Nigel by increasing his salary by 25 percent.

contingency plan

specifies actions when initial plans fail or events in the external environment create sudden change.