Chapter 6 Quiz

Which of the following statements is true of a mission statement?

A well-developed mission statement, no matter what the industry or size of business, will answer five basic questions.

________ refer to the ability of an individual to think in abstract terms and to see how parts fit together to form the whole.

Conceptual skills

Tombe manages a small print shop. In fact, this business is so small that Tombe is the only manager. What level manager is he?

He assumes the responsibilities of all three levels.

Which of the following is true of top management compensation?

Many firms are trying to align CEO compensation with performance.

Jonathan is interviewing for a position at a prestigious technology firm in his hometown. In the interview, he is asked: "Tell me how you would resolve a problem at work if you had access to a large amount of data?" Answering this question requires Jonathan to use ________ skills.

analytical

Robert is a senior manager at a cutlery company. To earn a profit, Robert must acquire, coordinate, and control all of the following resources EXCEPT

competitive products.

Adam is considering a price cut to boost sales, so he thinks about the consequences of the action on the organization's cash flow and consumers' reaction to the price change. In regard to analyzing options, Adam is

considering its impact on the organization as a whole.

Sydnee calls a meeting with all of her employees. She announced they now have the ability to take on responsibilities and make decisions about their jobs. This is an example of

employee empowerment.

Which of the following is a feature of democratic leadership?

encouraging employees to discuss concerns and provide inputs

As a manager, Stephanie makes decisions about the use of resources—such as people, services, and raw materials—at her company. Stephanie needs adequate ________ resources to pay for essential activities. Multiple Choice

financial

When selecting the best option among a series of possible decisions,

it may be possible to use a combination of several options.

Song is a manager at a clothing brand in the United States. Since her company wants to serve Asian American consumers, a fast-growing demographic group, she wants to hire Asian American employees to help make decisions regarding issues related to consumer diversity. All of the following are rules she should follow in diversity recruiting EXCEPT

limit hiring to individuals from the chosen demographic groups.

Carly attends a meetup for structural engineers once a month. She builds relationships and shares information with colleagues who can help her achieve the items on her agenda. What is this process called?

networking

Hudson starts his first company. He shares his mission statement with his friend who is also a business owner. His friend recommends Hudson outline the ends or results desired by the new organization and says that they are derived from the organization's mission. These are called

objectives.

Maria, Landon, and Kim meet quarterly to determine their organization's objectives and decide how to accomplish them. Together, they forecast events and identify various options to determine the best course of action. This is which management function?

planning

Brandon's company downsizes, eliminating a large number of employees. What must Brandon do to effectively manage his remaining employees and help them through the situation?

promote optimism and positive thinking

Though Razor Sharp, a men's personal care company, has succeeded with its brick-and-mortar stores for decades, the company plans to set up an online store to move into the market in India over the next two years as shaving gains popularity. This is an example of

strategic planning.

Homely Goodies, a large chain of home decor stores, wants to make sure its products are always available to customers. Since this company sells a wide array of products, from picture frames to couches, it will need many diverse ________ to provide goods while maximizing efficiencies and providing creative solutions to help the company reduce expenses and reach its objectives.

suppliers

Colin is a first-line manager at a solar panel company. Although he no longer does installs or repairs, since he worked in the field for more than 20 years, he is able to train employees, answer questions, provide guidance, and solve problems. These abilities most closely describe his

technical expertise.

Alan, the president of Inked Up Printing, schedules a meeting and invites the chief executive officer, chief financial officer, and chief operations officer. The attendees of this meeting are all

top managers.