Exam 1 Quiz Concepts
_________ refers to the resources and ability a firm has to undertake an action.
Competitor capability
Which of the following represents the first step in the strategic management process?
Environmental analysis
__________ involve the ability to apply specialized knowledge and expertise to work-related techniques and procedures.
Technical skills
Information is best defined as ________.
a set of conclusions derived from data analysis
Decisions that relate to ensuring that specific organizational tasks are carried out correctly are called _______ decisions.
operational control
The purpose for which an organization exists is its ________.
organizational mission
During the ________ stage of the product life cycle, sales are primarily based on the need to replace products.
saturation
Demographics, the statistical characteristics of a population, are reflected in the _________ component of the general environment.
social
In Porter's Five Forces Model, ________ refers to the ability of new firms to enter the industry.
the threat of new entrants
The idea that an organization must have the information it requires soon enough that it can be used to take action and gain the related benefit is referred to as information _______.
timeliness
When taking steps to increase power, the perception can be created that the employees are dependent on the manager. The strategy is to convey clearly the amount of _____ the manager has over organizational _____.
authority, resources
Monitoring the organization's external environment, and proposing new strategies and vision are examples of _____.
change-related activities
When setting organizational objectives, a(n) ________ objective is intended to be achieved in five to seven years.
long-term
Total power is made up of two types of power: _______ and _________.
position, personal
Activities that include short term planning and monitoring performance are examples of _____.
task-related activities
Management positions have increased from 10% to _____% of all jobs since 1950.
18
Which of the following is an example of a single-use plan?
A budget
Which type of plan supplies broad guidelines for action that support organizational objectives?
A policy
Which of the following is an example of a standing plan?
A sustainability policy
In the BCG Growth-Share Matrix, which matrix quadrant is categorized as having a large share of a market that is growing only slightly?
Cash cow
Which of the following suggests that managers should provide funds for planning only when they anticipate a reasonable return on investment?
Commitment principle
As a manager moves from lower-level management to upper-level management, which skill becomes more important?
Conceptual skills
Which management function is involved with ensuring that an event occurs as it was intended to occur?
Controlling
Walmart's strategy focuses on offering lower prices than its competitors. This is an example of which generic strategy?
Cost leadership
The exploration stage allows for a richer understanding of what a career might be like, and is often the basis for which career stage?
Establishment stage
At the end of a particular operating period, suppose Brenda (the manager) sits down with Ethan (the employee) and they meet to determine how well Ethan's performance has met the objectives set by Brenda. Which step in the MBO process would this be?
Evaluate performance
Which of the following career stages is characterized by self-analysis and understanding the different types of jobs available?
Exploration stage
Which tool is designed to identify and analyze forces that determine competitiveness within an industry?
Five Forces Model
Which of the following is a strategy that targets a particular customer in order to make the organization more competitive?
Focus
Suppose you wanted a planning tool to schedule resources, including human resources and the use of machinery over time, and you wanted it in bar graph form. Which of the following would be the best tool?
Gantt chart
Which of the following skills helps build cooperation within a team being led?
Human skills
Which of the following does NOT describe the management process?
Implementing a series of activities to achieve long term returns on investments
Which of the following is a behavior that makes the controlling process more effective?
Implementing timely corrective action
What is the affirmative purpose of planning?
Increasing organizational success
Motivating, leading, directing, and actuating are all words that describe which management function?
Influencing
When management outlines its commitment to new methods of operation, what type of objective is being set?
Innovation
When planning for career success, which of the following would be least helpful?
Learning to be reactive
Which of the following guidelines for establishing objectives focuses on helping a worker to be better motivated in carrying out an objective?
Let the people responsible for attaining the objectives have a voice in setting them.
Which management effort would most likely help women focus on important organizational issues?
Making sure that women know the top three strategic goals for the company
Which of the following refers to the ability to carry out the process of reaching organizational goals by working with and through people and other organizational resources?
Management skill
Which of the following refers to management's use of resources, such as raw materials and capital, in meeting goals?
Managerial effectiveness
When setting objectives for where a firm would like to be in comparison to competitors, what key area of objectives is being considered?
Market standing
What step in the management by objectives process involves the manager and the worker checking to see whether the objectives are being reached?
Monitor progress
Which term refers to the target toward which the open management system is directed?
Organizational objective
When tasks are set up so that the output of individuals contributes to the success of departments, and therefore the organization, what management function is being executed?
Organizing
Monique has strong relationships with her subordinates, which allows her to have significant influence on how they do their jobs and engage in work-related behaviors. This is an example of which type of power?
Personal
Raul is a manager who wants to make sure his subordinates know how he will determine whether an objective has been reached. On which guideline for establishing objectives is Raul focusing?
Pinpointing expected results
Determining which tasks must be performed to attain organizational goals is part of which management function?
Planning
Which management function precedes and is the basis for other management functions?
Planning
Which term refers to developing action programs for the purpose of accomplishing business objectives?
Planning
Which term refers to any factor within an organization that is a barrier to an organizational goal?
Problem
How can an organization best facilitate the transfer of an employee who has a working spouse?
Providing the spouse with career development opportunities
Which term refers to a strategy intended to strengthen or protect the amount of business a strategic business unit is currently generating?
Retrenchment
Which of the following compares a company's internal strengths with external opportunities?
SWOT analysis
Which type of forecast is focused on how many products will be sold to consumers over a specified time period?
Sales forecast
________ involves developing a list of activities and following time tables for the purpose of attaining an objective.
Scheduling
Which of the following is an advantage of using an MBO approach?
Securing employee commitment to reaching organizational goals
Which of the following steps in the planning process would include examining the overall economy when forming objectives?
Stating organizational objectives
_____ is the last step of the strategic management process and consists of monitoring and evaluating the strategic management process as a whole to ensure that it is operating properly.
Strategic control
________ involves outlining what the different parts of an organization should do in order to be successful at some point one year or less into the future.
Tactical planning
Under Porter's Five Forces Model, what happens when the threat of substitutes increases?
The attractiveness of an industry decreases.
Which method of sales forecasting is based on the informal but informed opinions of managers?
The jury of executive opinion method
Which of the following best describes the role of management?
To guide organizations toward goal accomplishment
Which of the following is the fundamental purpose of planning?
To help the organization reach its objectives
At which step would a manager develop strategic and tactical plans in the planning process?
When developing plans to pursue the chosen alternative
As relationships and teams replace rigid organizational structures, how will these new structures affect women's ability to succeed in future management situations?
Women are likely to be more successful.
The degree to which information is relevant to the current decision being made is called information _______.
appropriateness
Darren is the supervisor in a manufacturing facility that produces desks and chairs. Control of quality and output is his responsibility. To ensure that he is following the controlling process, after measuring the performance of his employees, he must _____, and then take any corrective action necessary.
compare measured performance to standards
How a firm undertakes strategic and tactical actions, and competitors' responses to those actions, is referred to as ________.
competitive dynamics
The ability to understand how a change in one part of the organization affects the rest of the organization is primarily a(n) _____ skill.
conceptual
Managerial activity aimed at bringing organizational performance up to the level of performance standards is called ________.
corrective action
Facts or statistics crucial to the controlling process are called ________.
data
In a career, an individual should be primarily focused on _____.
developing skills to qualify for the next planned job
Modern management challenges require _____ skills, the ability to establish and maintain a workforce that represents a combination of human characteristics appropriate for achieving organizational success.
diversity
The element of the general environment that indicates how resources are being distributed and used in the environment is the ________ component.
economic
The higher the proportion of total organizational resources that contributes to productivity during the manufacturing process, the more __________ the manager.
efficient
Management _____ skills refer to a person's ability to gain and maintain a career as a manager.
employability
To best understand what is happening both internally and externally to the organization, and to increase the probability of developing organizational strategies that reflect the organizational environment, a(n) ________ analysis should be undertaken.
environmental
The process of predicting future environmental issues is primarily accomplished through _________.
forecasting
Dylan is a small business owner and she is currently involved in the strategy implementation step of the strategic management process. Dylan has the ability to readily understand the fears and frustrations of her employees when it comes to strategy implementation. Dylan possesses the _____ skill.
interacting
When setting organizational objectives, a(n) _____ objective is intended to be achieved in one to five years.
intermediate
Laws such as the Clean Air Act, the Affordable Care Act, and the Consumer Products Safety Act are considered part of the _________ component of the general environment.
legal
The third stage in career evolution is the _____ stage, which typically consists of individuals 45 to 65 years old.
maintenance
General Electric (GE) has _____, which include the type of training programs that GE employees should undergo to expand their skill set.
personnel development standards
The power that a person gains from holding a particular position in the organization is known as ________ power.
position
Robert is a manager who is able to convince his employees to work late. This is an example of Robert using ________.
power
A manager is concerned with the degree to which the information she has related represents what is actually occurring. This manager is primarily concerned about information _______.
quality
Ellie is crafting strategy for her online business. She is currently involved in tactical planning and she is examining the next six months. This time period would be considered _____.
short range
At the Holiday Hotel, maids are told they need to completely clean a room in 5 minutes or less for their performance to be considered adequate. This specific time limit would best be described as a ________.
standard
A significant organizational segment that is analyzed to develop strategies for generating future business or revenue is known as a ________.
strategic business unit
A manager is making a decision related to the future objectives of the organization as a whole. This would likely be characterized as a(n) _______ decision.
strategic planning
Long-range planning that focuses on the organization as a total unit is called _______.
strategic planning
The process of determining how to best achieve organizational objectives is known as ________.
strategy formulation
In the strategic management process, putting strategies into action is done through _________.
strategy implementation
When Will tries to boot up his work computer, it loads very slowly. This is a ______ that suggests his computer may have a major issue such as a virus.
symptom
