management exam

Attrition

When organizations have more people than they need,they can use _________ to reduce the surplus id they have planned far enough in advance

demand forecast

A company has developed a new cell phone that will be targeted at developing countries. It is estimated that the demand for the new product will initially be slow but would accelerate gradually as the product becomes increasingly familiar to worldwide consumers. In order to determine the number of workers necessary to staff the new production facilities, the company needs to conduct a(n)

Management by objective

A process in which objectives set by a subordinate and supervisor must be reached by a specific time period.

Modular network

A_________ is composed of temporary arrangements among members that can be assembled and reassembled to meet a changing competitive environment.

functional

As vice president of human resources at lodge corporation, paul enjoys working alongside his peer vice president, largely because they all have different skills and all manage different parts of the organization, including research, engineering, production, construction, procurement, and finance. Lodge corporation is a_________ organization

Side Street Effect

As you head down the road, unexpected opportunities will appear

1

At least _____ key position should be held by a non-family member.

A restaurant wants to compare their quality of food to their competitor down the street. What is this an example of?

Benchmarking

Five executives attended a meeting that was being held at the company. A decision needed to be made about the following year's marketing campaign. Sam, an outspoken and aggressive person, insisted that his ideas be followed because there could not be a better alternative. No one else contributed to the discussion, and Sam's views were accepted. This group discussion suffered from

Domination

The planning stage involves

Ensuring the availability of the right number and types of people

______is an entrepreneurial alliance between an innovator who has created at least one successful store and wants to grow and partner who manages a new store for the same type in a new location

Franchising

In the context of incentive systems,___________ reward employees for increasing productivity or saving money in areas under their direct control.

Garnishing plans

functional

In a ________ organization, jobs (and departments) are specialized and grouped as production, marketing, human resources, research and development, finance, accounting and so forth based on the skills they require

delegate work

In the context of common management challenges, leadership deteriorates into micromanagement when entrepreneurs fail to ______

line departments

In the context of horizontal structure of a firm_____ are those that have responsibility for the principal activities of the firm

When working for a software company, and because Thomas is a(n) __________, he created a new venture based solely on his idea while using his company's proprietary technology

Intrapreneur

Matric management

Is composed of dual reporting relationships in which some employees report to two superiors

________is an analysis identifying the jobs, people, and departments for which training is necessary.

Needs assessment

flatline

Over the past few decades what has been happening to the hierarchical structure of an organization?

A corporation that is mainly focused on making tea products for the past two decades is now considering entering the soda industry. This is an example of which kind of strategy?

Related diversification

In managerial decision making, when one can estimate the likelihood of various consequences but still does not know with certainty what will happen, he or she is facing

Risk

What are the three most common plans?

Single-use plan Contingency plan Common use

What is the level of planning that usually takes the longest amount of time?

Strategic planning

What is the deal with the final exam

There is no formal final, but you can make up one of the 3 tests throughout the semester

Customer

Trident Sports Inc. manufactures and distributes athletic wear, sporting equipment, and protective sports gear worldwide. They are departmentalized based on products sold to professional athletes, products sold to people who pursue sports only for leisure, and products sold to sports teams. Which approach to departmentalization does the company follow?

Entrepreneurs take careful, calculated risks and are not afraid to act on those decisions.

True

Structured interview

Two Candidates for a manager position in a company compare notes, they notice that their questions were the same in the context of the given scenario they have a __________

Just-in-time (JIT)

________ is a system that calls for subassemblies and components to be manufactured in very small lots and delivered to the next stage of the production process as they are needed.

Skunkwork

______________ is a project team designated to produce a new, innovative product. In the _______ approach to corporate innovation,risk takers are not punished for taking risks and failing-their former jobs are held for them. The risk takers also have the opportunity to earn large rewards

Initial public stock offerings

_____________offer a way for business to raise capital through federally registered and underwritten sales of shares in a company

Total quality management

a way of managing in which everyone is committed to continuous improvement of his or her part of the operation.

The Equal Pay Act (EPA) of 1963

allows differences in pay in the case of a seniority system or merit system. The _________ prohibits discrimination in employment based on race, sex, color, national origin, and religion.

Managers who use the method of optimizing to make their decisions will attempt to choose ..

an alternative that achieves the best possible balance among several goals

In the context of labor relations______ is the use of a neutral third party to resolve a labor dispute.

arbitration

People who participate in a group discussion are more likely to understand why the decision was made. They will have heard the relevant arguments both for the chosen alternative and against the rejected alternatives Group discussion typically leads to a higher level of ____________ to the decision. Buying into the proposed solution translates into the high motivation to ensure that it is executed well

commitment

In an effort to combat groupthink and an overall lack of creativity, the group leader assigned Lucy the job of criticizing ideas, for the sake of argument, throughout the meeting. Lucy is playing the role of a

devil's advocate.

A provision of the 1938 Fair Labor Standards Act is that

employees are normally exempt from overtime pay if they have considerable discretion in how they carry out their jobs.

In the context of the entrepreneurial strategy matrix, a novel product idea that involves a large financial investment would be described as

high innovation/high risk

The manager of a restaurant noticed that the number of customers in the evening was decreasing. She promptly ordered the chef to revise the evening menu. Later, customer feedback indicated that the problem was not the menu but poor service from the waitstaff. The manager's decision to have the menu revised suggests that she failed to

identify and diagnose the problem.

Recruitment

the development of a pool of applicants for jobs in an organization.

Phase one of training starts with________

needs assessment

The organization chart depicts the

positions in the firm and the way they are arranged.

Illusion of control, discounting the future, and framing effects are examples of...

psychological biases.

In the context of a firm's vertical structure, a powerful trend for U.S. businesses over the past few decades has been to

reduce the number of hierarchical layers.

In the context of planning, goals are ________ that managers want to meet

targetes

Six Sigma Quality

use(s) statistical tools to analyze the causes of product defects. Zero defects