Management Final

In which stage of project management does risk analysis take place?

Planning

Which of the following is a true statement regarding a project champion:

S/He can mobilize the necessary resources to get the project done.

Which of the following is an example of a manager directing the company's resources efficiently:

Tyrell tells Diane to use a part of her budget on a new ad campaign.

Larissa tells her employees to spend one-third of their time on sales reports, one-third on answering emails, and one-third on generating new leads. This is an example of which step of the organizing process?

allocate resources

During what phase of the project does the project manager release the project's equipment, supplies, and team members?

closing

A small-business manager who considers how a one-person reduction in office staff could impact the rest of his/her company is demonstrating

conceptual skills

The staffing function is different from the organizing function because staffing is

continuous

Which management function is described in the following situation: James Crane has created a team atmosphere among the members of his sales department. When the team exceeded their monthly sales goal, James rewarded them with a celebratory dinner out and a 5% bonus.

directing

Yabbie's BBQ just hired several new staff members, so it decides to increase the number of managers working at once. This is an example of how

employees compentence affects organizing decisions

When a customer returns a defective product for a refund, it's a(n) __________ cost.

external failure

The key to recruiting is

finding the right number of applicants.

One of the main reasons why a business conducts a market analysis is to

forecast sales

Nick is the CEO of a business. The vice presidents of marketing, product development, finance, and operations all report to him, and they each have their own teams made up of several employees. This is a __________ structure.

functional

What is the overall focus of managerial planning?

future orientation

As part of its market analysis, the SVM Advertising Agency estimates the increases in demand for its services over a set timeframe for a particular market segment. The SVM Advertising Agency is attempting to analyze the market's

growth rate

A SWOT analysis revealed that the Sampson Corporation's extensive training program has led to a low employee turnover rate for the company. This is an example of a(n)

internal strength

A project's risk-management plan includes strategies for identifying potential risks as well as for

limiting their impact

Introducing a product to a limited group of customers to see what its acceptance will be is an example of a(n) __________ control.

marketing

The process of managerial planning typically helps to

maximize resource efficency

Fred wants his company to become the main supplier for a prominent local business. He should write a business plan to

obtain a specific contract or agreement.

When the owner of a small company conducts an organizational SWOT analysis, it is important for him/her to

obtain input from employees.

Making changes in the organization as a means of maintaining quality is an example of

quality improvement

Which of the following is a disadvantage of a narrow span of management:

slower communication process

Number of sales, number of defects, length of time needed to complete a task, and how much a product costs are all examples of

standards used to measure results

In which section of the business plan will Elena put extra supporting information?

appendices

The cost of employing product inspectors is a(n) __________ cost.

appraisal

Mitch's boss placed him in charge of shipping at his company. Whenever anyone wants to ship a package, they need his approval and oversight. Mitch has

authority

An effective control system must

be based on accurate information

Establishing clearly formulated, overall organizational objectives provides a business with

direction for the business's activities.

Completing an employee's insurance and tax paperwork is part of which staffing task?

onboarding

What management function is being described in the following situation: David Thomas, a top-level manager, identifies jobs to be performed, assigns responsibility for them, establishes departments to handle the jobs, and determines how many and which employees mid-level managers will supervise.

organizing

Germaine will discuss his company's seven services in which part of the business plan?

products offered