MGMT 2347: Principles of Management

In the context of portfolio strategy, _____ is the purchase of a company by another company. A. acquisition B. divestiture C. restructuring D. demerger

A. acquisition (Acquisition is the purchase of a company by another company. Managers employing portfolio strategy can either develop new businesses internally or look for acquisitions.)

A _____ is a gap between a desired state and an existing state. A. problem B. benchmark C. minimum threshold D. condition of certainty

A. problem (A problem exists when there is a gap between a desired state (what managers want) and an existing state(the situation an employee is actually facing).)

According to the S.M.A.R.T. guidelines, goals should be _____. A. rational B. measurable C. service-oriented D. actionable E. tactical

B. measurable (S.M.A.R.T. goals should be: specific, measurable, attainable, realistic and timely.)

_____ is a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate. A. revealed competitive advantage B. sustainable competitive advantage C. core competency advantage D. comparative advantage

B. sustainable competitive advantage (Sustainable competitive advantage is a competitive advantage that other companies have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate.)

Which of the following statements is true of the relationship between social responsibility and economic performance? A. socially responsible companies are guaranteed profitability B. the costs of being socially responsible can be offset by a better product or corporate reputation C. there is a big trade-off between social responsibility and economic performance D. socially responsible companies and traditional businesses do not experience the same ups and downs in economic performance

B. the costs of being socially responsible can be offset by a better product or corporate reputation (The costs of being socially responsible - and those costs can be high, especially early on - can be offset by a better product or corporate reputation, which results in stronger sales or high profit margins.)

_____ is choosing a goal and developing a method or strategy to achieve that goal. A. controlling B. organizing C. planning D. leading

C. planning (Planning is choosing a goal and developing a method or strategy to achieve that goal.)

_____ are responsible for developing operational plans. A. board of directors B. top managers C. middle managers D. lower-level managers

D. lower-level managers (Lower-level managers are responsible for developing and carrying out operational plans.)

Phillip works at a graphic designing firm. He can efficiently work on various graphic design software. He can create visuals and illustrations as per client's requirements. This scenario illustrates that Phillip has _____. A. interpersonal skills B. conceptual skills C. negotiation skills D. technical skills

D. technical skills (This scenario illustrates that Phillip has technical skills. Technical skills are the specialized procedures, techniques, and knowledge required to get a job done.)

A company must avoid communicating its code of ethics to others outside the company. True False

False (A company must communicate its code of ethics to others both inside and outside the company to encourage ethical decision making and behavior.)

_____ are companies in the same industry that sell similar products or services to customers. A. competitors B. lobbyists C. intermediaries D. sponsors

A. competitors (Competitors are companies in the same industry that sell similar products or services to customers. Companies need to keep close track of what their competitors are doing.)

_____ increase in importance as managers rise through the management hierarchy. A. conceptual skills B. spatial skills C. informational skills D. technical skills

A. conceptual skills (Conceptual skills increase in importance as managers rise through the management hierarchy. Conceptual skills are the ability to see an organization as a whole, to understand how the different parts of the company affect each other, and to recognize how the company fits into or is affected by its external environment.)

The workers of ToxoPro Labs, a chemical manufacturing company, are exposed to toxic and hazardous working conditions. Last year, one of its workers died on the job. Nevertheless, the company took a long time to acknowledge any responsibility for the accidents occurring on the job and chose to only compensate the families of the affected workers when they sued the company. Which of the following social responsiveness strategies is the company using? A. defensive strategy B. accommodative strategy C. proactive strategy D. reactive strategy

A. defensive strategy (ToxoPro Labs is using a defensive strategy in this scenario. A company using a defensive strategy would admit responsibility for a problem but would do the least required to meet societal expectations.)

In the context of management functions, organizing is about: A. determining how things get done B. monitoring progress toward goal achievement C. motivating workers to work hard D. determining organizational goals

A. determining how things get done (Organizing is about determining how things get done. Organizing is deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom in the company.)

_____ is the positioning strategy of providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price for it. A. differentiation B. retrenchment C. commonality D. diversification

A. differentiation (Differentiation is the positioning strategy of providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price for it.)

_____ pertain to the social roles that businesses play in society beyond their economic, legal, and ethical responsibilities. A. discretionary responsibilities B. accommodative responsibilities C. proactive responsibilities D. obligatory responsibilities

A. discretionary responsibilities (Discretionary responsibilities pertain to social roles that businesses play in society beyond their economic, legal, and ethical responsibilities.)

FasterRides Inc. has introduced a new bike in the market. Majority of its profits come from the sale of bikes. The company is recognized worldwide for its ability to design and produce bikes with superior handling, smooth transmission, powerful brakes, and other premium features that its competitors are lacking. This ability to produce superior quality bikes is the company's _____. A. distinctive competence B. strategic alternative C. competitive resonance D. strategic reference point

A. distinctive competence (The ability of FasterRides Inc. to produce superior quality bikes compared with its competitors is a distinctive competence that the company has over its competitors. A distinctive competence is something that a company can make, do, or perform better than its competitors.)

Which of the following exemplifies a sociocultural component in the general organizational environments? A. increasing popularity of weight management programs B. new FDA regulations on food handling and storage in fast food chains C. increase in the number of fast food chains offering similar menus D. shortage of spice suppliers

A. increasing popularity of weight management problems (Increasing popularity of weight management programs is an example of a sociocultural trend that can affect the fast food chain industry. The sociocultural component of the general environment refers to the demographic characteristics, general behavior, attitudes, and beliefs of people in a particular society.)

In the context of direct competition, _____ is defined as the degree to which two companies have overlapping products, services, or customers in multiple markets. A. market commonality B. related diversification C. direct competition D. resource similarity

A. market commonality (In the context of direct competition, market commonality is defined as the degree to which two companies have overlapping products, services, or customers in multiple markets. The more markets in which there is product, service, or customer overlap, the more intense the direct competition between the two companies.)

Chris is part of the top management of a bank. He formulates a plan on how the bank will deal with its competitors and serve its customers for the next five years. In this scenario, Chris has most likely contributed to developing the bank's _____. A. strategic plan B. tactical plan C. operational plan D. single-use plan

A. strategic plan (In the given scenario, Chris has most likely contributed to developing the bank's strategic plan. Strategic plans are overall company plans that clarify how the company will serve customers and position itself against competitors over the next two to five years.)

Chocblur is the only wholesaler of cooking chocolate in the town of Wescanso. Klemmy's, a famous dessert shop in Wescanso, purchases cooking chocolate only from Chocblur because transporting the chocolate from other towns would increase its overall expenses. In the context of the specific environment, which of the following concepts does this scenario best illustrate? A. supplier dependence B. buyer dependence C. path dependence D. internal dependence

A. supplier dependence (In the context of the specific environment, this scenario best illustrates supplier dependence. Supplier dependence is the degree to which a company relies on a supplier because of the importance of the supplier's product to the company and the difficulty of finding other sources of that product.)

Chimera Inc., a chemical company, has been facing a loss in business. In an attempt to stop the declining profitability, it removed petrochemical products from its product list and concentrated on specialty chemicals, a less capital-intensive business. Which of the following grand strategies was used by Chimera in this scenario? A. the retrenchment strategy B. the acquisition strategy C. the growth strategy D. the stability strategy

A. the retrenchment strategy (In the given scenario, Chimera used a retrenchment strategy by removing petrochemical products from its product list and concentrating on specialty chemicals. The purpose of a retrenchment strategy is to turn around very poor company performance by shrinking the size or scope of the business.)

Todd's manager rejected his leave application because project deadlines were getting closer. Todd considered this a personal offence and got into an argument with his manager. In this scenario, the disagreements between Todd and his manager can best be classified as _____. A. constructive conflict B. a-type conflict C. c-type conflict D. cognitive conflict

B. a-type conflict (In this given scenario, the disagreements between Todd and his manager can be classified as a-type conflict. A-type conflict, meaning "affective conflict," refers to the emotional reactions that can occur when disagreements become personal rather than professional.)

_____ is a company's social responsibility to make a profit by producing a valued product or service A. discretionary responsibility B. economic responsibility C. ethical responsibility D. legal responsibility

B. economic responsibility (Economic responsibility is a company's social responsibility to make a profit by producing a valued product or service.)

A _____ is the positioning strategy of using cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment. A. portfolio strategy B. focus strategy C. retrenchment strategy D. growth strategy

B. focus strategy (A focusing strategy is the positioning strategy of using cost leadership or differentiation to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment.)

_____ skills are equally important at all levels of management, from team leaders to chief executive officers. A. technical B. human C. conceptual D. spatial

B. human (Human skills are equally important at all levels of management, from team leaders to chief executive officers. Human skills can be summarized as the ability to work well with others.)

Which of the following is a disadvantage of planning? A. it decreases the effort put in by managers and employees B. it creates a false sense of certainty C. it pressures employees to work for extended periods D. it increases employee turnover

B. it creates a false sense of certainty (One of the disadvantages of planning is that it can create a false sense of certainty.)

Which of the following best defines competitive inertia? A. it is a corporate-level strategy that minimizes risk by diversifying investment among various businesses or product lines B. it is a reluctance to change strategies or competitive practices that have been successful in the past C. it is a discrepancy between a company's intended strategy and the strategic actions managers take when implementing that strategy D. it is a risk-seeking strategy that aims to create and acquire companies in a completely unrelated business

B. it is a reluctance to change strategies or competitive practices that have been successful in the past (Competitive inertia is a reluctance to change strategies or competitive practices that have been successful in the past. Success often leads to competitive inertia.)

Budgets are a type of _____. A. tactical plans B. operational plans C. strategic plans D. visionary plans

B. operational plans (Budgets are a type of operational plans. Budgeting is a quantitative planning because it forces managers to decide how to allocate available money to best accomplish company goals)

_____ refers to a transaction in which one party in the relationship benefits at the expense of the other. A. transactional behavior B. opportunistic behavior C. relationship behavior D. advocacy behavior

B. opportunistic behavior (Opportunistic behavior refers to a transaction in which one party in the relationship benefits at the expense of the other. A high degree of buyer or seller dependence can lead to opportunistic behavior.)

A business administrator in a school is determining how classes will be scheduled, which rooms will be allocated, and who will teach each subject in the curriculum. Which of the following management functions is illustrated in this scenario? A. controlling B. organizing C. planning D. leading

B. organizing (The management function of organizing is illustrated in this scenario. Organizing is deciding where decisions will be made, who will do what jobs and tasks, and who will work for whom in a company.)

A court ruling against the wrongful dismissal of employees is a development in the _____ component of the general environment. A. economic/demographic B. political/legal C. technological D. sociocultural

B. political/legal (A court ruling against the wrongful dismissal of employees is a development in the political/legal component of the general environment. The political/legal component includes the legislation, regulations, and court decisions that govern and regulate business behavior.)

_____ are described as a cushion of extra resources that can be used with options-based planning to adapt to unanticipated changes. problems, or opportunities. A. standing plans B. slack resources C. secondary firms D. strategic groups

B. slack resources (Slack resources are a cushion of extra resources that can be used with options-based planning to adapt to unanticipated changes, problems, or opportunities.)

Which of the following conditions must be met if a firm's resources are to be used to achieve a sustainable competitive advantage? A. the resources must be perfectly imitable B. the resources must be valuable, rare, and nonsubstitutable C. the resources must be controlled by other competing firms D. the resources must be low-cost and commutable

B. the resources must be valuable, rare, and nonsubstitutable (Four conditions must be met if a firm's resources are to be used to achieve a sustainable competitive advantage. The resources must be valuable, rare, imperfectly imitable, and nonsubstitutable.)

Which of the following best defines cost leadership? A. It is the positioning strategy of providing a product or service that is sufficiently different from competitors' offerings that customers are willing to pay a premium price for it. B. It is the positioning strategy to grow brand performance by reacting to changes in the external environment after they occur instead of following a consistent adaptive strategy. C. It is the positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competitors can so that a firm can offer the product or service at the lowest price in the industry. D. It is the positioning strategy to produce a specialized product or service for a limited, specially targeted group of customers in a particular geographic region or market segment.

C. It is the positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competitors can so that a firm can offer the product or service at the lowest price in the industry. (Cost leadership is the positioning strategy of producing a product or service of acceptable quality at consistently lower production costs than competitors so that a firm can offer the product or service at the lowest price in the industry. Cost leadership protects companies from industry forces by deterring new entrants, who will have to match low costs and prices.)

_____ refers to the emotional reactions that can occur when disagreements become personal rather than professional. A. personal conflict B. c-type conflict C. a-type conflict D. channel conflict

C. a-type conflict (A-type conflict meaning "affective conflict" refers to the emotional reactions that can occur when disagreements become personal rather than professional.)

Alice, a reporter at a daily newspaper, is given a low performance rating because she has not been meeting productivity requirements. She is personally affected by the low rating and gets into an argument with her manager. In this scenario, the disagreements between Alice and her supervisor can best be classified as _____. A. constructive conflict B. cognitive conflict C. a-type conflict D. c-type conflict

C. a-type conflict (In the given scenario, the disagreements between Alice and her supervisor can best be classified as a-type conflict. A-type conflict, meaning "affective conflict" refers to the emotional reactions that occur when disagreements become personal rather than professional.)

The economy is a part of the _____ that influences all organizations. A. specific environment B. internal environment C. general environment D. niche environment

C. general environment (Two kinds of external environments influence organizations: the general environment and the specific environment. The general environment consists of the economy and the technological, sociocultural, and political/legal trends that indirectly affect all organizations.)

In the context of management functions, which of the following is true of planning? A. it involves monitoring progress toward goal achievement B. it involves hiring and leading workers C. it is one of the best ways to improve performance D. it is the last function of management

C. it is one of the best ways to improve performance (Planning is one of the best ways to improve performance. It encourages people to work harder, to work for extended periods, to engage in behaviors directly related to goal accomplishment, and to think of better ways to do their jobs.)

After Hayworth Publishers realized that it was incurring losses, it set new objectives. These objectives were to increase revenues by at least five percent and reduce net losses by at least 80%. In this scenario, which of the following management functions is involved in setting these goals and helping the company meet them? A. controlling B. organizing C. planning D. leading

C. planning (In this scenario, the management function of planning is involved in setting the goals and helping the company meet them. Planning involves determining organizational goals and a means for achieving them. Planning is one of the best ways to improve performance.)

The _____ holds that an individual should never do anything that is not honest, open, and truthful and that he or she would not be glad to see reported in the newspapers or on television. A. principle of government requirements B. principle of utilitarian benefits C. principle of personal virtue D. principle of distributive justice

C. principle of personal virtue (The principle of personal virtue holds that an individual should never do anything that is not honest, open, and truthful and that he or she would not be glad to see reported in the newspapers or on television.)

A _____ is a social responsiveness strategy in which a company does less than society expects. A. discretionary strategy B. accommodative strategy C. reactive strategy D. proactive strategy

C. reactive strategy (In the context of social responsiveness, a company using a reactive strategy will do less than society expects.)

_____ is creating or acquiring companies that share similar products, manufacturing, marketing, technology or cultures. A. product positioning B. retrenchment C. related diversification D. market targeting

C. related diversification (Related diversification is creating or acquiring companies that share similar products, manufacturing, marketing, technology or cultures. The key to related diversification is to acquire or create new companies with core capabilities that complement the core capabilities of businesses already in the corporate portfolio.)

Bayer AG, Syndial SpA, Crompton Corp, DuPont Dow Elastomers, and Zeon Chemicals are all international manufacturers of rubber chemicals. They have all been indicted as participants in a price-fixing scheme that drove up the costs of chemicals used to make shoes, tires, and other products. They would be most likely to use the _____ model to justify their actions. A. accounting B. econometric C. shareholder D. stakeholder E. fiscal

C. shareholder (According to the shareholder model, the only social responsibility a business has is to make a profit.)

According to the _____, the only social responsibility that businesses have is to maximize profits. A. economic model B. stakeholder model C. shareholder model D. accounting model

C. shareholder (The shareholder model holds that the only social responsibility that businesses have is to maximize profits.)

_____ are persons or groups with a legitimate interest in a company. A. trade unions B. lobbyists C. stakeholders D. advocacy groups

C. stakeholders (Stakeholders are persons or groups with a legitimate interest in a company. Because stakeholders are interested in and affected by the organization's actions, they have a stake in what those actions are.)

Which of the following forms a component of the specific environment of an organization? A. socio-cultural trends B. the technological component C. the customers D. the political component

C. the customers (the customers form a component of the specific environment of an organization. Customers purchase products and services. Companies cannot exist without customer support.)

A fast-food restaurant chain is famous for its small, square hamburgers. Which of the following would be a component of its socio-cultural environment? A. regulations passed by the Food and Drug Administration B. a price war with Burger King and McDonald's C. the fact that most consumers prefer eating out than at home D. the development of fully automated drive-through windows E. the period of business prosperity

C. the fact that most consumers prefer eating out rather than at home

Benjamin saw one of his colleagues stealing office supplies while all the other employees had gone for lunch. He immediately reported the incident to his supervisor. Benjamin's action is an example of: A. property-deviance B. brainstorming C. whistle-blowing D. personal aggression

C. whistle-blowing (Benjamin's action is an example of whistle-blowing. Whistle-blowing is the act of reporting others' ethics violations to management or legal authorities.)

An _____ is a social responsiveness strategy in which a company accepts responsibility for a problem and does all that society expects to solve that problem. A. defensive strategy B. discretionary strategy C. reactive strategy D. accommodative strategy

D. accommodative strategy (An accommodative strategy is a social responsiveness strategy in which a company accepts responsibility for a problem and does all that society expects to solve that problem.)

_____ are groups of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions. A. employee groups B. supplier groups C. competitor groups D. advocacy groups

D. advocacy groups (Advocacy groups are groups of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions. The members of a group generally share the same point of view on a particular issue.)

The senior accountants at Spicedam have a disagreement with each other about the calculation of the company's annual budget because of their different industry experiences. However, they are willing to have a rational discussion and arrive at the optimal solution. In this scenario, the conflict among the senior accountants at Spicedam best exemplifies _____. A. a-type conflict B. affective conflict C. channel conflict D. c-type conflict

D. c-type conflict (In the given scenario, the conflict among the senior accountants at Spicedam best exemplifies c-type conflict. In c-type conflict, group members disagree because their different experiences and expertise lead them to view the problem and its potential solutions differently. C-type conflict is also characterized by a willingness to examine, compare, and reconcile those differences to produce the best possible solution.)

Which of the following is the last step of a strategy-making process? A. evaluating strategic alternatives B. conducting situational alaysis C. assessing the need for strategic change D. choosing strategic alternatives

D. choosing strategic alternatives ( The last step of a strategy making process is choosing strategic alternatives. The external business environment is much more turbulent than it used to be. After determining the need for strategic change and conducting a situational analysis, the last step in the strategy making process is to choose strategic alternatives that will help the company create or maintain a sustainable competitive advantage.)

Which one is not one of the Henry Fayol's functions of management? A. control B. leading C. organizing D. compensating

D. compensating

Claire is a manager at an IT firm. She notices a consistent drop in the productivity of her employees. She is not able to find the reason behind this drop. In the context of rational decision making, which of the following steps should Claire take first? A. identifying decision criteria B. computing the optimal decision C. generating alternative courses of action D. defining the problem

D. defining the problem (Claire should first define the problem. The first step in rational decision making is identifying and defining the problem.)

One of the primary reasons for the slow response to help the victims of Hurricane Katrina was an antiquated government system that was bogged down in bureaucratic red tape. In other words, the failure of assistance to arrive in a timely fashion was due to a lack of: A. instrumentality B. the absence of entropy C. apathy D. efficiency E. effectiveness

D. efficiency (Efficiency means getting work done with a minimum of effort, expense, or waste.)

_____ is the degree of concern people have about an ethical issue. A. ethical objectivism B. ethical pluralism C. ethical congruence D. ethical intensity

D. ethical intensity (The degree of concern people have about an ethical issue. When addressing an issue of high ethical intensity, managers are more aware of the impact their decision will have on others.)

A fast-food restaurant chain is famous for its small, square hamburgers. Which of the following would be a component of its general environment? A. boycotts by the Chicago organization of People for the Ethical Treatment of Animals (PETA) B. meat processing companies that provide its ground beef C. consumers who will drive miles out of their way to eat a burger D. inflation E. local zoning laws that designate the appropriate distance from the street for a restaurant to be located

D. inflation (Inflation affects all organizations. The other factors exert industry-specific influence on the restaurant.)

Which of the following statements is true of direct competition? A. it uses cost leadership to produce a specialized product for limited customers B. it minimizes the effects of industry competition C. it encourages the production of perfectly imitable resources D. it is determined by market commonality and resource similarity

D. it is determined by market commonality and resource similarity (Direct competition is the rivalry between two companies offering similar products and services that acknowledge each other as rivals and take offensive and defensive positions as they act and react to each other's strategic actions. Two factors determine the extent to which firms will be in direct competition with each other: market commonality and resource similarity.)

_____ is defined as getting work done through others. A. marketing B. accounting C. communication D. management

D. management (Management is defined as getting work done through others. Good management is basic to starting a business, growing a business, and maintaining a business after it has achieved some measure of success.)

An _____ refers to the values, beliefs, and attitudes shared by organizational members. A. organizational hierarchy B. organizational design C. organizational innovation D. organizational culture

D. organizational culture (An organizational culture refers to the values, beliefs, and attitudes shared by the organizational members.)

Which of the following is a component of the general environment that indirectly affects all organizations? A. industry regulations B. customers C. suppliers D. political/legal trends

D. political/legal trends (The general environment consists of the economy and the technological, sociocultural, and political/legal trends that indirectly affect all organizations.)

_____ is the degree to which a company relies on a provider because of the importance of the provider's product to the company and the difficulty of finding other sources of that product. A. regulator dependence B. internal dependence C. buyer dependence D. supplier dependence

D. supplier dependence (Supplier dependence is the degree to which a company relies on a supplier because of the importance of the supplier's product to the company and the difficulty of finding other sources of that product.)

A primary source of organizational culture is _____. A. a new employee B. the board of directors C. the company founder D. a new customer

D. the company founder (A primary source of organizational culture is the company founder. Founders like Walt Disney and Steve Jobs created organizations in their own images and imprinted them with their beliefs, attitudes, and values.)

Which of the following best defines cash cows in the BCG matrix? A. they are the companies that have a large share of a fast-growing market B. they are the companies that have a small share of a slow-growing market C. they are the companies that have a small share of a fast-growing market D. they are the companies that have a large share of a slow-growing market

D. they are the companies that have a large share of a slow-growing market (Cash cows are companies that have a large share of a slow-growing market. Companies in this situation are often highly profitable, hence the name cash cow.)

Secondary stakeholders are important to a company because: A. they are critical to the company's long-term survival B. they have the direct power to control management decisions C. they are involved in day-to-day transactions with the company D. they can affect public perceptions about socially responsible behavior

D. they can affect public perceptions about socially responsive behavior (Secondary stakeholders are important because they can affect public perceptions and opinions about socially responsible behavior.)

According to portfolio strategy, the more businesses in which a corporation competes, the larger its overall chances of failing. True False

False (According to portfolio strategy, the more businesses in which a corporation competes, the smaller its overall chances of failing. Portfolio strategy is a corporate-level strategy that minimizes risk by diversifying investment among various businesses or product lines.)

Carrying out discretionary responsibilities is mandatory for every organization. True False

False (Carrying out discretionary responsibilities is voluntary. Companies are not considered unethical if they do not perform them.)

Efficiency is accomplishing tasks that help fulfill organizational objectives. True False

False (Efficiency is getting work done with a minimum of effort, expense, or waste. Effectiveness involves accomplishing tasks that help fulfill organizational objectives.)

Human skills are more important for team leaders and lower-level managers than for top managers. True False

False (Human skills are equally important at all levels of management, from team leaders to chief executive officers. However, because lower-level managers spend much of their time solving technical problems, upper-level managers may actually spend more time dealing directly with people.)

Technical skills are more important for top managers and middle managers than they are for lower-level managers. True False

False (Technical skills are most important for team leaders and lower-level managers because they supervise the workers who produce products or serve customers.)

In the context of management functions, controlling is about determining how things get done. True False

False (The last function of management, controlling, is monitoring progress toward goal achievement and taking corrective action when progress isn't being made. Organizing is about determining how things get done.)

The sociocultural component of the general environment refers to the knowledge, tools, and techniques used to transform inputs into outputs. True False

False (The sociocultural component of the general environment refers to the demographic characteristics, general behavior, attitudes, and beliefs of people in a particular society. Technology is the knowledge, tools, and techniques used to transform inputs into outputs.)

Managers who always have their eye on their next job rarely establish more than superficial relationships with peers and coworkers. True False

True (Managers who always have their eye on their next job rarely establish more than superficial relationships with peers and coworkers. In their haste to gain credit for successes that would be noticed by upper management, they make the fatal mistake of treating people as though they don't matter.)

The nominal group technique begins by having group members act as individuals. True False

True (The nominal group technique begins with a quiet time in which group members independently write down as many problem definitions and alternative solutions as possible.)

The nominal group technique improves group decision making by decreasing a-type conflict. True False

True (The nominal group technique improves group decision making by decreasing a-type conflict.)