management final

The first step in starting your own business is:

a self-assessment

"A" in SMART Framework refers to which of these?

achievable

Which of these represents the final step in Kotter's Change Model?

anchor the changes

Which of the following is a characteristic of the entrepreneurial personality?

Ambitious

Which of the following represent a model specifically designed as an abundance-based, bottom-up, positive approach?

Appreciative Inquiry (AI) model

Once Arnold Patel had decided he wanted to quit working as a Web designer for a large advertising agency and go into some kind of business for himself, he did a self-assessment, which indicated that he had an entrepreneurial spirit. His next step will be to:

find the idea for his business

A ______ strategy involves developing plans to increase the size of the firm in terms of revenue, market share, or geographic reach.

growth

In 2000, Eric Baker and Jeff Fluhr came up with a concept that would do away with scalping if they had their wish, and everyone used StubHub.com. The Internet company brings people who want tickets and people who have tickets that they are not using together. The company has assisted in the sale of tens of millions dollars worth of tickets annually and is always trying to sell more. It charges a small fee for its assistance. Baker and Fluhr would be classified as:

growth-oriented entrepreneur want their businesses to grow into a major corporation.

Intrapreneurs:

have the characteristics of creativity, vision, and risk taking. run mini-companies within large corporations receive regular salaries and employee benefits have a high degree of autonomy in spite of the fact they work for a large corporation

While ________ are things a firm has to work with, such as equipment, facilities, raw materials, employees, and cash, _____ are things a firm can do, such as deliver good customer service or develop innovative products to create value.

resources, capabilities

The major determinants of goal commitment include all of the following EXCEPT:

rewards and incentives are participation job satisfaction self-efficacy expectancy of success

Which of the following represent the first step in the planning process?

set goals

A _____ strategy is a strategy for a company to maintain its current income, market share, or geographic reach.

stability

Which of the following describe the high-level planning performed by company executives in order to set the overall direction of the company?

strategic planning

In the context of Porter's model, a(n) ____ is any other product or service that can satisfy the same need for a customer as an industry's offerings.

substitute

____ is the process for reviewing key roles and determining the readiness levels of potential internal and external candidates to fill these roles.

succession planning

Organizations tend to increase the amount of planning and control closer to the point of execution when:

the market is stable and not complex

The weakest impact of MBO effects appear to manifest themselves when:

top management does very little to talk the value/importance of MBO

According to the GLOBE project, countries in the Latin American cluster tend to be more collective, have high power distance, and have high uncertainty avoidance.

true

Exporting is one of the easiest ways to go international

true

From its earliest inception as a primarily compliance-type function, human resource management has further expanded and evolved into its current state as a key driver of human capital development.

true

Inadequate early planning is often at the core of small business failures.

true

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

true

The informal organization is emergent, meaning that it is formed through the common conversations and relationships that often naturally occur as people interact with one another in their day-to-day relationships.

true

The strategic management process is the set of activities that firm managers undertake in order to try to put their firms in the best possible position to compete successfully in the marketplace.

true

______ change is unintentional and is usually the result of informal organizing.

unplanned change

"V" in VRIO refers to which of these?

value

A firm's _____ is the progression of activities it undertakes to create a product or service that consumers will pay for.

value chain

Which of these refers to the increasing competition for recruiting?

war for talent

Domain planning would be most appropriate for all of the following situations EXCEPT:

when people agree on goals are when there is a recognized need for flexibility when an organization is in the startup period when an organization is in an unstable and uncertain environment

Which of the following argues that leaders assume that people are inclined to embrace change when they are respected as individuals with intrinsic worth, agency, and capability?

appreciative mindset

refers to factors that prevent new firms from successfully competing in the industry.

barriers to entry

is a process in which the performance standard is based on another firm's superior performance.

benchmarking

Within an organization, the primary lever to address the drive to _____ is culture, and the actions are to foster mutual reliance and friendships, to value collaboration and teamwork, and to encourage best practice sharing.

bond

Within an organization, the primary lever to address the drive to _____ is job design, and the actions are to design jobs that have distinct and important roles in the organization, as well as jobs that are meaningful and foster a sense of contribution.

comprehend

Garden Tools, Inc. (GTI) offers customers its product or service at a lower price than its rivals can. GTI can be described as utilizing which of the following strategy?

cost-leadership strategy

Within an organization, the primary lever to address the drive to _____ are performance management and resource-allocation processes, and the actions are to increase process transparency and fairness, and to build trust by being just in granting rewards, assignments, and other recognition.

defend

The final phase of an Appreciative Inquiry (AI) practice, ______, occurs as employees put into practice the plans they have developed.

destiny

Michael is a senior in high school and wants to major in a business-related class when he goes to college. Michael plans to select a variety of courses from the School of Business curriculum yet not select a major. After selecting courses based upon availability and interest he earns a sufficient number of credits within this chosen area that enables him to graduate with a major in marketing. Michael has engaged in:

domain planning

World at Work defines a total rewards strategy as the six elements of total rewards that collectively define an organization's strategy to attract, motivate, retain and engage employees. Which of the following is NOT an element of this total rewards?

employee life cycle

Which of the following is NOT a force in Porter's industry analysis model?

employee power

Which of these represents the first step in Kotter's Change Model?

establish a sense of urgency

A diffuse organization concentrates resources in only a one or very few locations, or only a few individuals are authorized to make decisions about the use of resources.

false

Collectively, Internet users amount to about 80 percent of the world's population.

false

Compare to Hofstede, the only two cultural dimensions unique to the GLOBE project are performance orientation and future orientation.

false

In corrective feedback, the receiver provides nonevaluative information to the communicator.

false

Internal factors are things in the global environment that may impact a firm's operations or success, examples are a rise in interest rates, or a natural disaster.

false

Research has shown that too much control can't be given to employees.

false

The decisional role of crisis handler involves managers making decisions about who gets what, how much, when, and why.

false

The evolution of HR work can be described terms of waves where wave 1 focused on the integration of HR strategy with the overall business strategy.

false

The vision statement describes the strategy a firm will use to follow its vision along with a description of why do they exists.

false

Threats offer positive potential, however sometimes a firm is not equipped to take advantage of them which is why considering the entire SWOT is important before deciding what to do.

false

The two sources for debt financing are angel investors and venture capitalists.

false those are two sources of equity financing

"R" in SMART Framework refers to which of these?

relevant

An evaluation tool that collects feedback from manager, peers, direct reports, and customers is called ______.

360 assessment

are entrepreneurs who start a series of companies.

Multipreneurs

_____ extends rights to many private-sector employees, including the right to organize and bargain with their employer collectively.

NLRA of 1947

Jason has expertise in change management processes. Jason can be classified as a(n) ______.

OD consultant

Hannah Li wants to quit her job as a legal secretary and start her own small business. She knows that she will be successful if she can find the right idea. Where can Li look for ideas for her new business?

Problems she noticed in her old job Her interest in the history of Asian art Suggestions from her family Other businesses in other regions of the country

All the following best practices illustrate the key steps for effective recruiting of key leadership hires EXCEPT:

Specify the compensation are effective: Anticipate your needs close the deal integrate the newcomer develop the pool

Jay Patel is the HR manager at BNB Manufacturing. Jay wants to establish the pay-for-performance structure at BNB. Jay's boss tells him that if any of BNB's current human resources and compensation policies conflict with pay for performance, they should be reviewed and changed. Jay should focus on which of the following step in the framework to address these issues?

identify any gaps that exist in the current processes

"I" in VRIO refers to which of these?

imitation

Lachlan Stuart is employed by International Paper, a company that values his vision and creativity. To stay ahead in a very competitive industry, International Paper gives Stuart, and his division has almost complete autonomy to develop innovative and effective communications. Stuart is an example of a(n):

intrapreneur are entrepreneurs who apply their creativity, vision, and risk taking within a large corporation rather than starting a company of their own.

Gord Larose and his friend David Allan worked in Ottawa at Nortel Networks, a giant telecommunications-equipment maker. One Friday afternoon, over a few beers in Larose's kitchen, they dreamed up a scheme for renting software over the Internet. Instead of quitting their jobs, they reported to work on Monday, explained their plan to their boss, and began working to make their idea a reality. Four years later, their idea has evolved into an important division of Nortel called Channelware. Larose and Allan are examples of:

intrapreneurs

The variables measured in BCG Matrix are:

market share; market growth

"M" in SMART Framework refers to which of these?

measurable

When Allison Logue found out her children were allergic to corn, she started looking for sweets and starches that were corn-free and was dismayed to find very few such products on the market. As a result, she has started her own small business to produce and market corn-free desserts. It is a small market, and Logue plans to keep her business small. Logue is an example of a(n):

micropreneur

The outcomes or goals stated in an organizations mission statement, annual report, and charter are called:

official goals

When an organization states it wants to increase output by 10%, they have stated a(n):

operational goal

"O" in VRIO refers to which of these?

organization

A plan that focuses on one of the organizations businesses would probably be a:

organizational scope plan

A ____ is a decision to carry out a particular action in order to achieve a specific goal.

plan

____ change is an intentional activity or set of intentional activities that are designed to create movement toward a specific goal or end.

planned change

The process by which managers establish goals and specify how these goals are to be attained is:

planning

"R" in VRIO refers to which of these?

rarity