McGraw Chapter 1 Questions

Which of the following are examples of globalization? (Choose every correct answer.)

A manufacturer producing its goods in facilities located in a different country A company selling its products to consumers in other countries An organization partnering with firms in other countries

Which management activity is related to the informational role of managers?

Being a spokesperson

Which of the following are the responsibilities of middle-level managers? (Choose every correct answer.)

Breaking down corporate objectives into business unit targets Putting together separate business plans from lower units for higher level corporate review Serving as nerve centers of internal communication between top management and front lines

A company gains competitive advantage by doing which of the following? (Choose every correct answer.)

By being better than competitors By doing valuable things for the customers

Which of the following is a type of top-level manager?

Chief information officer

Which of the following best exemplifies speed in the business environment?

Company Z creates and releases a rival program when it learns a competitor is planning a launch.

Handling disturbances, allocating resources, and engaging in negotiations are activities that fall under which category of management roles?

Decisional

Which of the following are the roles of top-level managers?

Focus on broad strategic issues Overall management of the organization Work extensively with outside individuals and organizations

What are the major waves of change that are part of the challenges of managing a business in the new competitive landscape? (Choose every correct answer.)

Globalization Collaboration across organizational boundaries The importance of knowledge and ideas Technological change Workforce diversit

Which of the following statements about globalization is correct?

Globalization taps into increasing demands in foreign markets.

Select all that apply Which of the following are the roles and responsibilities of frontline managers?

Implementing the specific plans developed with middle managers Supervising the operations of the organization

Which of the following are the roles and responsibilities of frontline managers?

Implementing the specific plans developed with middle managers Supervising the operations of the organization

What are the fundamental drivers of gaining a competitive advantage?

Innovation, quality, service, speed, and cost competitiveness

Which of the following are components of cost competitiveness? (Choose every correct answer.)

Keeping costs low Pricing products attractively to customers

__________ is about finding, unlocking, sharing, and capitalizing on the most precious resources of an organization: people's expertise, skills, wisdom, and relationships.

Knowledgable managment

Which of the following statements about must-have management skills are true?

Managers need a variety of skills to perform their roles well. Without technical, conceptual, and communication skills, a manager will not succeed.

What is the role of cost competitiveness?

Organizations that are able to keep costs low, make a profit, and price products at a lower price are more likely to succeed.

Which of the following are the roles of top-level managers?

Overall management of the organization Work extensively with outside individuals and organizations Focus on broad strategic issues

What is the best attitude for a manager to have in regard to the four functions of management

Prioritize all four functions equally.

Which of the following are among the fundamental factors that drive successful performance for a company, ultimately leading to competitive advantage? (Choose every correct answer.)

Service Innovation Quality

What are the intellectual resources that knowledge managers must seek to discover, unlock, share, and capitalize on? (Choose every correct answer.)

Skills Relationships Expertise Wisdom

Which of the following is the definition of controlling?

Supervising performance and making needed changes

Flatter organizational structures rely on lower level employees to participate in decision making. These employees are generally organized into groups. Which of the following type of manager oversees these groups?

Team Leader

Which of the following are trends in the U.S. labor market expected through 2026? (Choose every correct answer.)

The share of the workforce that is Hispanic will grow to about 20 percent. One out of four workers will be over 55 years old. A higher percentage of women than men will join the workforce

Which of the following statements about the importance of interpersonal and communications skills is true?

They are important at every level of management.

Which of the following are examples of technical skills managers may possess? Multiple select question.

Understanding financial statements Managing human resources

A middle manager has traditionally acted as an _________ who bridges the gap between higher and lower levels.

administrative controller

The management function of organizing includes:

assembling and coordinating all resources needed to achieve goals.

The increase in diversity of the labor force means managers will need to ______. Multiple choice question.

be able to relate to and work productively with these individuals

A management process in which people in different parts of an organization share information throughout the development of a product or process is called _______.

collabaration

At Toyota, engineers and manufacturing employees use a product development software which includes an online database that provides a central, easily accessible source of information about designs and processes. This form of knowledge management supports ______.

collabaration

The three essential categories of skills that managers need are technical skills, interpersonal skills, and ______ skills.

conceptual

Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members are called ______ skills.

conceptual and decision

The management function of monitoring performance and making needed changes is called ______.

controlling

Speed refers to the fast and timely execution, response, and ____ of results.

delivery

To be competitive, the best managers ______.

focus on all six sources of competitive advantage

The first management position of newer or younger managers is likely to be as a(n) _______ manager.

frontline

A manager's use of conceptual and decision skills ______ with greater responsibility.

increases

The introduction of new goods and services is known as ______

innovation

When Amazon first began, it sold books. It now offers food-delivery services, sells clothing, household appliances, and much more, and is dabbling with making deliveries with drones. These are examples of ______.

innovative

Which type of skill is of high importance at every level of management?

interpersonal skills

Five key elements that make the current business landscape different from the past are globalization, technological change, ________, collaboration across organizational boundaries, and an increasingly diverse labor force.

knowledge and ideas

The management function that involves the manager's efforts to stimulate high performance by employees is called ______

leadiing

The ability to motivate and communicate effectively with employees is called ______.

leading

In today's global economy, most mangers engage in the four functions of management by ______.

performing all four functions simultaneously throughout the day

In contrast to the traditional approach to quality, achieving total quality involves __

preventing defects before they occur

Focusing on continually meeting the changing needs of customers to establish mutually beneficial long-term relationships is an example of ______. Multiple choice question.

service

Giving customers what they want or need, when they want it, is the goal of ______.

service

The goodwill stemming from your social relationships is called ______. Multiple choice question.

social capital

The management function of planning is defined as ______.

specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals

Taking a long-term perspective on helping the natural environment and building tomorrow's business opportunities while effectively managing today's business is a form of competitive advantage known as ______.

substainablity

A relatively new type of manager who engages in a variety of behaviors designed to achieve work group effectiveness is called a(n) _____

team leader

A(n) ______ skill is the ability to perform a specialized task that involves a certain method or process.

technical

Trade-offs may occur among the six sources of competitive advantage. Managers should realize that ______.

this doesn't need to be a zero-sum game where one source has to suffer at the expense of another

When should individuals begin to build their social capital networks?

while in school