Key Terms/Concepts Quiz 4

_____ is the process of guiding the development, maintenance, and allocation of resources needed to attain organizational goals. Strategic planning Management Functional coordination Motivation

Management

_____ planning is the creation of long-range, comprehensive objectives and the development of long-term courses of action. Strategic Supervisory Operational Tactical

Strategic

Which of the following is an example of an ethical business activity? The employee reported to his supervisors that a co-worker has misappropriated company funds. The employee used the company postage meter to mail letters to her family. The employee went to see a movie one afternoon when she was supposed to be making a sales call. The employee told several jokes that made fun of blonde women.

The employee reported to his supervisors that a co-worker has misappropriated company funds.

_____ is the process of guiding and motivating others toward the achievement of organizational goals. Leadership Management Communications Power

Leadership

_____ provides the structure of people, positions, departments, and activities within which the company objectives can be accomplished. Organizing Planning Leadership Communicating

Organizing

Which of the following is NOT one of the four functions of management? Planning Organizing Leadership Budgeting Controlling

Budgeting

_____ is the process of ensuring that the organization's objectives are being met and of correcting deviations from the plan. Staffing Planning Leadership Controlling

Controlling

_____ is the set of attitudes, values, and standards that distinguishes one organization from another. Corporate policy Strategic environment The mission statement Corporate culture

Corporate culture

_____ is the set of moral standards for judging whether something is right or wrong. Social Responsibility Ethics Consumerism Legality

Ethics

Which of the following statements about social responsibility is true? The four components of the social responsibility pyramid are of equal importance. The federal government has written laws that require businesses to act socially responsible. Companies that exhibit corporate philanthropy are not acting socially responsible. The obligation that a business has to act socially responsible extends beyond the investors in the company to include workers, suppliers, consumers, and communities.

The obligation that a business has to act socially responsible extends beyond the investors in the company to include workers, suppliers, consumers, and communities.

At the base of the corporate social responsibility pyramid is: legal responsibilities philanthropic responsibilities responsibilities to stakeholders economic responsibilities

economic responsibilities

A company can only be concerned about its _____ responsibilities once it has met its economic and legal responsibilities. ethical societal corporate cultural

ethical

One of the keys to ethical business behavior is: the perception of the company by its employees how the company's top management conducts themselves how many people near retirement age are in the company the number of rules, regulations, and guidelines the company has

how the company's top management conducts themselves

The three basic roles of management are: informational, educational, and operational decisional, operational, and interpersonal interpersonal, decisional, and informational educational, operational, and intrapersonal

interpersonal, decisional, and informational

A code of ethics: provides employees with the knowledge of what their firm expects in terms of their responsibilities and behavior toward fellow employees, customers, and suppliers can offer a lengthy and detailed set of guidelines to employees is a summary statement of the firm's goals, policies, and priorities is accurately described by all of the above

is accurately described by all of the above

All of the following are elements of controlling EXCEPT: measuring performance standards feedback monitoring performance standards subordinating setting performance standards

subordinating

Most firms have three distinguishable levels of management. They are: supervisory, middle, and top low, middle, and chief functional, middle, and staff operational, supervisory, and top

supervisory, middle, and top

Among managers there are three distinctive leadership styles. They are: autocratic, open-door, and democratic free-rein, democratic, and group-centered autocratic, participative, and free-rein committee, open-door, and closed-door

autocratic, participative, and free-rein

A _____ is a formal document that states an organization's purpose and reason for existing and describes its basic philosophy. vision principle of existence corporate manifesto mission statement

mission statement

Dean Jager is the supervisor of the volunteer staff at the Booth Western Art Museum. He makes the work assignments, determines work schedules, and makes sure the museum uses all its volunteer staff efficiently. Jager is involved in _____ planning. procedural hands-on functional operational

operational

A company has achieved the level of _____ responsibilities when it has met its ethical, legal, and economic responsibilities. philanthropic societal altruistic global

philanthropic

_____ planning is short-range, detailed planning that is based on long-range planning. It typically has a time frame that is less than one year long. Procedural Tactical Strategic Functional

Tactical

_____ is the concern of businesses for the welfare of society as a whole. Business morality Consumerism Business ethics Social responsibility

Social responsibility

_____ are all the individuals or groups to whom a business has a responsibility. Stakeholders Stockholders Investors Consumers

Stakeholders

Management needs to be prepared to deal with problems and seize opportunities as they arise. A company often identifies alternative courses of action to be taken if events undercut a strategic or tactical plan. These are called _____ plans. technical contingency functional participative

contingency