Management Final Multiple Choice 51-100

72. Espoused values are _____. A. a narrative based on true events, which emphasize a particular value B. physical manifestations of organizational culture C. the values and norms actually exhibited in the community D. explicitly stated values and norms preferred by an organization E. profit and cost expectations stated in the business plan

D. explicitly stated values and norms preferred by an organization

93. In the strategic-management process, the final step, maintaining strategic control, is the source of _____. A. the organizational mission B. strategy formulation C. the current reality assessment D. feedback and evaluation E. the planning process

D. feedback and evaluation

70. Difficulties that inhibit the achievement of goals are known as _____. A. objectives B. synergies C. values D. problems E. alternatives

D. problems

60. The father of scientific management is _____. A. Frank Gilbreth B. Tom Gallagher C. Abraham Maslow D. Peter Drucker E. Frederick Taylor

E. Frederick Taylor

84. The process by which a company compares its performance with that of high-performing organizations is known as ___. A. trend analysis B. a vision plan C. contingency planning D. a managerial pact E. benchmarking

E. benchmarking

88. Contingency planning is also known as _____. A. organizational opportunities B. scenario goal-setting and plans C. a trend analysis D. scenario planning and scenario analysis E. strategic planning

D. scenario planning and scenario analysis

52. Americans driving less and young people having less interest in cars are examples of trends in society known as ____ forces. A. diversity B. financial C. political D. sociocultural E. legal

D. sociocultural

69. Planning done by middle managers to determine what contributions their departments or similar work units can make with their given resources during the next 6 to 24 months is ____. A. writing a belief statement B. developing a goals pact C. producing a code of ethics D. tactical planning E. management pledging

D. tactical planning

53. One way to think of management is ___. A. efficiency in motion B. the science of helping people C. the science of accomplishing things D. the art of getting things done through people E. the science of synergy

D. the art of getting things done through people

56. Hugo Munsterberg was known as ____. A. the father of scientific management B. a pioneer of scientific management C. the father of MBO D. the father of industrial psychology E. the originator of sociology

D. the father of industrial psychology

80. Division of labor is also known as ____. A. a task chart B. a horizontal hierarchy C. an organizational graph D. work specialization E. chain of command

D. work specialization

83. A hierarchy of authority is ____. A. also known as a division of labor B. a control mechanism for making sure the right people do the right things at the right time C. a diversity structure used in planning with recruiting, selection, and hiring D. also known as work specialization E. the arrangement of having discrete parts of a task done by different people

B. a control mechanism for making sure the right people do the right things at the right time

82. The Delphi technique is a group process that uses physically dispersed experts who fill out questionnaires to ____. A. form a diversity plan B. anonymously generate ideas C. cut costs and increase efficiency D. develop a synergy agenda E. generate sales

B. anonymously generate ideas

62. The tendency of people to view events as being more predictable than they really are known as _____. A. framing bias B. hindsight bias C. sunk-cost bias D. narrow focus bias E. the fog effect

B. hindsight bias

95. Writing employee schedules and a list of things to do for the cook is a type of ____. A. strategic planning B. operational planning C. delegation management D. human resource management E. tactical planning

B. operational planning

81. The predisposition in which people's subjective confidence in their decision making is greater than their objective accuracy is ____. A. confidence bias B. overconfidence bias C. hindsight bias D. predisposition bias E. the tunnel vision effect

B. overconfidence bias

96. The mission statement expresses the ____. A. expected profitability of the organization B. purpose of the organization C. code of ethics D. market for the product E. types of employees needed

B. purpose of the organization

54. Ethnocentrism is also known as _____. A. geocentrism B. ecocentrism C. parochialism D. open-mindedness E. a flexible management style

C. parochialism

78. A forecast is a(n) _____. A. glimpse of what just happened B. execution of strategy and making adjustments C. projection for the future D. analysis of the past E. plan for implementing strategic plans

C. projection for the future

87. The vertical hierarchy is also known as _____. A. an upward graph B. the X-Y chart C. the chain of command D. the network structure E. the corporate steps

C. the chain of command

66. In the third step of rational decision making (evaluating alternatives and select a solution), you need to evaluate each alternative not only according to cost and quality but also according to the following questions: _____ A. Is it efficient and how will it affect our marketing strategy? B. Is it feasible, effective, and efficient? C. Is it ethical and will it hurt diversity? D. Is it ethical, feasible, and effective? E. Is it feasible and profitable?

D. Is it ethical, feasible, and effective?

75. The profits of ABC Grocery have dropped significantly over the last several months. After investigating, the owner realizes that the store is moving in the wrong direction in many departments, so there needs to be greater focus by management. This is an example of how an organization can progress in the wrong direction with ____. A. little company diversity B. no focus on JIT C. no code of ethics D. a poor plan E. too much employee diversity

D. a poor plan

100. The rational model of decision making is also called the ____ model. A. focused B. analytical C. decision D. classical E. logical

D. classical

63. The idea that proposes that the ability of decision makers to be rational is limited by numerous constraints, such as complexity, time, cognitive capacity, values, skills, habits, and unconscious reflexes, is known as _____. A. rational decision making B. MBO C. nonrational decision making D. analytics E. bounded rationality

E. bounded rationality

61. Because of frequently changing competition and technology, a company's strategic planning may have to be done _____. A. every 5 years rather than every 2 years B. every 5 years rather than every 10 years C. every 10 years D. continuously E. closer to every 1 or 2 years than every 5 years

E. closer to every 1 or 2 years than every 5 years

99. The prospect theory suggests that ____. A. decision makers are influenced by the way a situation or problem is framed B. decision makers have too much confidence in their own abilities C. decision makers tend to make judgments based on an initial impression D. decision makers can't abandon an idea that costs too much money E. decision makers find the notion of an actual loss more painful than giving up the possibility of a gain

E. decision makers find the notion of an actual loss more painful than giving up the possibility of a gain

90. Planning done by first-line managers to determine how to accomplish specific tasks with available resources within the next 1 to 52 weeks is known as _____. A. writing a belief statement B. developing their goals pact C. producing their code of ethics D. doing management pledging E. doing operational planning

E. doing operational planning

6 4. Sometimes culture can be strong enough to take the place of an organization's ____. A. performance standards B. code of ethics C. business plan D. mission statement E. formal rules and regulations

E. formal rules and regulations

74. There are two kinds of spans of control are _____. A. tall and short B. flat and broad C. tall and hollow D. hierarchy and nonhierarchy E. narrow and wide

E. narrow and wide

73. The model of decision making that explains how managers should make decisions, assuming managers will make logical decisions that will be the optimum in furthering the organization's best interests, is known as the ____. A. employee relations model B. focused decision-making model C. interpersonal-decision agenda D. solutions agenda E. rational decision-making model

E. rational decision-making model

79. In an organization, division of labor is ____. A. the coordination of individual efforts into a group or organization-wide effort B. the common purpose which unifies employees C. an organizational structure with few or no levels of middle management D. a structure where employees report to no more than one manager E. the arrangement of having discrete parts of a task done by different people

E. the arrangement of having discrete parts of a task done by different people

85. The basic assumption that the picture of the present can be projected into the future is the basis of a _____. A. trend goal B. business plan C. vision statement D. managerial pact E. trend analysis

E. trend analysis

67. Important decisions are made by middle-level and supervisory-level managers with ____. A. decentralized authority B. upper authority C. focused power D. centralized authority

A. decentralized authority

68. The clan culture has a(n) _____. A. internal focus and values flexibility B. strong external focus and values stability and control C. external focus and values flexibility D. internal focus and values stability and control E. continual focus on efficiency, cost cutting, and outsourcing

A. internal focus and values flexibility

92. Manner of dress, awards, myths and stories told about the company, and rituals and ceremonies are ____. A. observable artifacts of organizational culture B. espoused values of organizational culture C. enacted values of organizational culture D. basic assumptions about organizational culture E. invisible artifacts of that industry's culture and values

A. observable artifacts of organizational culture

57. A computer manufacturer is seeking to cut costs by designing an inventory system that reduces the number of finished products in stock due to overproduction and to set in place a production schedule that better matches customers' orders. This is an example of ____. A. operations management B. scientific management C. production management D. inventory oversight E. inventory analysis

A. operations management

59. When the manager of a local restaurant sets goals and then develops a plan on how to achieve them, she is ____. A. planning B. monitoring C. delegating D. organizing E. staffing

A. planning

89. A defensive strategy is also known as a(n) _____. A. retrenchment strategy B. fixed plan C. aggressive approach D. growth strategy E. stability strategy

A. retrenchment strategy

51. An import quota is a(n) ____. A. trade barrier B. embargo C. trade encouragement D. export fee E. type of dumping

A. trade barrier

5. Rites and rituals are ____. A. company values included in the code of ethics B. the activities and ceremonies that celebrate important occasions and accomplishments for an organization C. objects, acts, or the quality that conveys meaning to others D. a narrative based on true events that emphasize a particular value E. company expectations for employees, such as working hard, ethically, and honestly

B. the activities and ceremonies that celebrate important occasions and accomplishments for an organization

77. A decision tree is ____. A. a structure of problem-solving ideas, with its roots based on the organization's mission B. the hierarchy that must be followed when getting decisions approved C. a graph of decisions and their possible consequences D. a location used by Chinese philosopher Confucius in times of intense pressure E. an organization's decision network

C. a graph of decisions and their possible consequences

94. Satisficing is the tendency of ____. A. people to view events as being more predictable than they really are B. decision makers to be influenced by the way a situation or problem is presented to them C. a group to settle on a decision that is "good enough" D. people to see events based on what has happened in the past E. group members to agree for the sake of unanimity and thus avoid accurately assessing the decision situation

C. a group to settle on a decision that is "good enough"

58. Countertrading is ___ goods for goods. A. outsourcing B. sourcing C. bartering D. selling E. licensing

C. bartering

86. In the BCG matrix, organizations that have slow growth but high market share, and income from them often finances stars and question marks, are ____. A. sleeping giants B. dogs C. cash cows D. turtles E. sleepers

C. cash cows

71. Organizations using a matrix structure _____. A. contain multiple overlapping command structures, in which employees report to several managers B. centralize authority into a single person C. contain two command structures, in which some people actually report to two bosses D. establish a hierarchy in which employees report to only one supervisor E. utilize teams or workgroups with few lines of authority

C. contain two command structures, in which some people actually report to two bosses

91. The process of assigning managerial authority and responsibility to lower-level managers and employees is known as ____. A. authority B. planning C. delegation D. a power trip E. control

C. delegation

76. The primary reason for an organization to adopt planning and strategic management is to _____. A. develop MBO B. encourage new ideas C. develop a sustainable competitive advantage D. provide direction and momentum E. increase organization diversity

C. develop a sustainable competitive advantage

97. Goal displacement, satisficing, and groupthink are ____. A. advantages of group decision making B. disadvantages of individual decision making C. disadvantages of group decision making D. problems with synergy E. a normal aspect of all groups

C. disadvantages of group decision making

55. On an organization's board of directors, inside directors ____outside directors _____. A. are supposed to be elected from outside the organization/ may be members of the firm B. must work for the company/ are also members of the firm C. may be members of the firm/ are supposed to be elected from outside the firm D. are always retired executives/ typically are employees E. must work for the organization/ are paid members of the organization

C. may be members of the firm/ are supposed to be elected from outside the firm

98. Who are our customers? What are our major products or services? In what geographic areas do we compete? These are all questions that are answered in a good _____. A. vision statement B. code of ethics C. mission statement D. value pact E. management belief statement

C. mission statement