MGMT 2350 Final Exam Lars

Which of the following saw the reintroduction of classical knowledge and the emergence of new knowledge and learning, much of which had economic and business implications? A. The Italian Renaissance B. The ancient Egyptians pyramids C. The Greeks during the time of Plato and Socrates D. The great Roman Empire

A. The Italian Renaissance

. In ______ feedback, the receiver responds by challenging the original message. A. corrective B. role ambiguity C. reinforcing D. informational

A. corrective

The movement of people from their home country to other countries refers to A. immigration. B. global strategy. C. emerging markets. D. globalization.

A. immigration.

Which of the following SWOT factors are external to the firm? A. Strengths and weaknesses B. Weaknesses and opportunities C. Opportunities and threats D. Threats and strengths

C. Opportunities and threats

Studies suggest that firms who engage in planning are more financially successful than those that do not. a. True b. False

a. True

Teams work best when they have a compelling reason for being, and it is thus more likely that the teams will be successful and live up to performance expectations. a. True b. False

a. True

The Industrial Revolution saw work shift from family-led home production to factory production. a. True b. False

a. True

. Interpersonal communication influences the opinions, attitude, motivation, and behaviors of others. a. True b. False

a. True

A firm's strategic position should try to be unique in some way that competitors cannot imitate quickly or easily a. True b. False

a. True

According to Linda Hill, managing a team means managing paradox. a. True b. False

a. True

Although Blacks do not make up the largest share of the workforce for racial minorities, research studies show they face discrimination more often than other racial minorities. a. True b. False

a. True

As organizations become larger and more complex, the task of managing becomes increasingly complex. a. True b. False

a. True

Because tariffs are usually passed along to the consumer in the form of higher prices, imposing tariffs on imported goods gives domestic companies a price advantage and protects them from foreign competition. a. True b. False

a. True

Culture tells people who they are, which behaviors are appropriate, and which are not acceptable in any society. a. True b. False

a. True

Entrepreneurs are people with vision, drive, and creativity, who are willing to take the risk of starting and managing a business to make a profit. a. True b. False

a. True

Executive managers are at the top of the hierarchy and are responsible for the entire organization, especially its strategic direction. a. True b. False

a. True

Exporting is one of the easiest ways to go international. a. True b. False

a. True

In a team, the multiple diverse perspectives can enhance both the understanding of the problem and the quality of the solution. a. True b. False

a. True

Management communication is about the movement of information and the skills that facilitate it—speaking, writing, listening, and processes of critical thinking. a. True b. False

a. True

Maximizing shareholder wealth is often a short-sighted decision because it can harm the organization's financial viability in the future. a. True b. False

a. True

Micropreneurs are entrepreneurs who start small and plan to stay small. a. True b. False

a. True

Mining is a technique that can be used in teams that tend to avoid conflict. a. True b. False

a. True

PESTEL, Porter's Five Forces, and Resources and Capabilities are three important strategic analysis tools managers can utilize in formulating the strategies. a. True b. False

a. True

Leadership and management are interchangeable. a. True b. False

b. False

Members for a team should be selected for their personality, not for their skill and skill potential. a. True b. False

b. False

The Age Discrimination in Employment Act (ADEA) of 1967 protects individuals who are 30 years of age or older from employment discrimination based on age. a. True b. False

b. False

Women constitute approximately 53% of the workforce compared to approximately 47% for men. a. True b. False

b. False

Which of these best described communication? A. A social process B. Limitation to productivity C. Time waster D. A biological process

A. A social process

____ occurs when one assumes that all people within a culture act, think, and behave the same way. A. Cultural stereotyping B. Expatriate C. Masculinity D. Individualism

A. Cultural stereotyping

______ refers to identity-based differences among and between two or more people that affect their lives as applicants, employees, and customers. A. Diversity B. Inclusion C. Glass ceiling D. Quid pro quo

A. Diversity

Which of the following occurs when a company invests in another country by constructing facilities and buildings in that country? A. FDI B. Licensing C. Franchising D. Strategic Alliances

A. FDI

_____ are entrepreneurs who start a series of companies. A. Multipreneurs B. Intrapreneurs C. Multi-venturists D. Multi-faceted venturists

A. Multipreneurs

______ refers to factors that distort message clarity. A. Noise B. Information overload C. Encoding D. Reputation management

A. Noise

Which of the following is the most prevalent type of communication? A. Oral communication B. Written communication C. Nonverbal communication D. Vertical communication

A. Oral communication

Which of these is known for its efficiency and immediacy? A. Oral communication B. Written communication C. Nonverbal communication D. Vertical communication

A. Oral communication

_____ is a competency and a skill that enables individuals to function effectively in cross-cultural environments. A. Structural intervention B. Cultural intelligence C. Paradoxes D. Exit

B. Cultural intelligence

Which term describes a collective of individuals who share the same demographic characteristics such as race, sex, or age? A. Diversity B. Identity group C. Inclusion D. Quid pro quo

B. Identity group

______ is a contractual agreement whereby, in exchange for a royalty or fee, a company gives the right to another company to use a trademark, know-how, or other proprietary technology. A. FDI B. Licensing C. Exporting D. Strategic Alliances

B. Licensing

______ refers to the field of ethics concerned with our asking how should and ought we live and act. A. Business Ethics B. Normative ethics C. Ethical relativism D. Virtue ethics

B. Normative ethics

The individual, group, or organization for which information is intended best describe which of the following? A. Communicator B. Receiver C. Figurehead D. Decoder

B. Receiver

A firm's _____ are what it is not good at—things that it does not have the capabilities to perform well. A. Strengths B. Weaknesses C. Opportunities D. Threats

B. Weaknesses

Which of the following describe mission of an organization? A. What is our product or service? B. What is our strategic purpose for operating? C. Who is our customer? D. Who are we? Who will we become?

B. What is our strategic purpose for operating?

Which of the following includes e-mail, texts, letters, reports, manuals, and annotations on sticky notes? A. Oral communication B. Written communication C. Nonverbal communication D. Vertical communication

B. Written communication

When a company decide to shrink its operations to reduce costs in order to survive, it is employing a ____ strategy. A. stability B. defensive C. intensive D. growth

B. defensive

Strategic, administrative, and operating plans are: A. organizational scope plans B. hierarchical plans C. contingency plans D. Standing plans

B. hierarchical plans

For managers, ______ skills involve the ability to work with people and understand employee motivation and group processes. A. executive B. human relations C. conceptual D. technical E. long-range

B. human relations

"O" in the SWOT analysis stands for ______. A. open B. opportunities C. output D. operations

B. opportunities

The process by which managers establish goals and specify how these goals are to be attained is: A. management by objectives B. planning C. strategic management D. part of budgeting

B. planning

Which of the following is known as the "polite stage"? A. Storming B. Performing C. Forming D. Adjourning

C. Forming

Which is an invisible barrier based on the prejudicial beliefs that underlie organizational decisions that prevent women from moving beyond certain levels within a company? A. Diversity B. Inclusion C. Glass ceiling D. Quid pro quo

C. Glass ceiling

Body language and facial expression are examples of which of these? A. Oral communication B. Written communication C. Nonverbal communication D. Vertical communication

C. Nonverbal communication

Which of the following describe vision of an organization? A. What is our strategic purpose for operating? B. Who is our customer? C. Who are we? Who will we become? D. What do we stand for and believe in? What standards can be used to evaluate us and judge us?

C. Who are we? Who will we become?

The two forms of business financing are _____ (borrowed funds) and _____ (ownership funds). A. credit; leverage B. equity; debt C. debt; equity D. equity; leverage

C. debt; equity

In ______ feedback, the receiver communicates that she has clearly received the message and its intentions. A. corrective B. role ambiguity C. reinforcing D. informational

C. reinforcing

"T" in the SWOT analysis stands for ______. A. teamwork B. time C. threats D. terminal

C. threats

Women today earn about ____ cents to every dollar that men earn, even while performing the same or similar jobs. A. 50 B. 80 C. 95 D. 120

B. 80

"W" in the SWOT analysis stands for ______. A. win B. wages C. welfare D. weaknesses

D. weaknesses

Which system is quick, impulsive, and intuitive, relying on emotions or habits to provide cues for what to do next? A. Reactive B. Logical C. Methodical D. Ad hominem

A. Reactive

_____ involves selflessly working with followers to achieve shared goals that improve collective, rather than individual, welfare A. Servant leadership B. Rights approach C. Stewardship D. Ethical relativism

A. Servant leadership

Which of the following SWOT factors are internal to the firm? A. Strengths and weaknesses B. Weaknesses and opportunities C. Opportunities and threats D. Threats and strengths

A. Strengths and weaknesses

Where the organization is headed or is going reflects what stage of the planning process? A. goal setting B. premising C. awareness D. selection of alternatives

A. goal setting

The Small Business Administration (SBA): A. helps people start and manage small businesses B. is a privately-owned company C. is a financial institution D. does not have a Web site

A. helps people start and manage small businesses

A _____ strategy is a strategy for a company to maintain its current income, market share, or geographic reach. A. stability B. defensive C. divestiture D. growth

A. stability

_____ refer to our beliefs about what is right vs. wrong, good vs. evil, virtuous vs. corrupt. A. Ad hominem B. Groupthink C. Heuristics D. Ethics and morals

D. Ethics and morals

Which of the following invention during the Italian Renaissance allowed the reintroduction of classical knowledge and the emergence of new knowledge and learning to spread throughout Europe? A. Clay coins B. Introduction of incentives C. Span of control D. Printing press

D. Printing press

Which system is logical, analytical, deliberate, and methodical? A. Reactive B. Reflexive C. Heuristics D. Reflective

D. Reflective

_____ is (are) the big-picture goals for the company. A. Vision B. Mission C. Opportunities D. Strategic objectives

D. Strategic objectives

Which term represents an individual's visible characteristics, including, but not limited to, age, body size, visible disabilities, race, or sex? A. Deep-level diversity B. Valuing diversity C. Hidden diversity D. Surface-level diversity

D. Surface-level diversity

______ occurs when an employee or an applicant is treated unfairly at work or in the job hiring process due to an identity group, condition, or personal characteristic. A. Cognitive diversity B. Groupthink C. Cognitive flexibility D. Workplace discrimination

D. Workplace discrimination

A well-written business plan should contain: A. executive summary or company overview B. a marketing plan C. a vision and mission statement D. all of the above

D. all of the above

Which of the following is NOT one of the advantages of owning a small business? A. flexibility B. efficiency of operation C. ability to serve specialized markets D. avoidance of taxes

D. avoidance of taxes

A ______ strategy involves developing plans to increase the size of the firm in terms of revenue, market share, or geographic reach. A. stability B. defensive C. divestiture D. growth

D. growth

A business plan: A. describes in detail the idea for the new business and how it will be carried out B. is used to persuade lenders and investors to finance the venture C. may take many months to write D. is accurately described by all of the above

D. is accurately described by all of the above

Many classic entrepreneurs are _____ who start small and plan to keep their business small. A. interpreneurs B. multipreneurs C. intrapreneurs D. micropreneurs

D. micropreneurs

. "S" in the SWOT analysis stands for ______. A. support B. strategy C. system D. strengths

D. strengths