Mgmt 371 #2
18. Google is a highly successful search engine site. It maintained that expertise and tried to expand into mobile devices. It used a _____ strategy. a. Defender b. Analyzer c. Prospector d. Reactor e. Rescuer
b
2. Which of the strategy types in the Miles and Snow model avoids long term commitment to any single technology, is highly decentralized and has a propensity to take risk? a. Reactor b. Prospector c. Defender d. Analyzer e. Rescuer
b
23. In which of the following decision making conditions is the decision maker aware of all the alternatives and able to assign probabilities to the costs and payoffs of each alternative? a. Rationality b. Certainty c. Uncertainty d. Risk e. Probability
b
24. _____May explain why publishers are more likely to publish a children's book by a recognizable celebrity like Katie Couric than to consider a beautifully illustrated and written book by an unknown author a. Synergy b. Bounded rationality c. Equifinality d. a need to optimize e. a need to control the market
b
28. Many decisions regarding basic operating systems and procedures and standard organizational transactions are non programmed decisions a. True b. False
b
29. A good reason to attempt to shift programmed decisions to non programmed decisions is because of decision fatigue a. True b. False
b
34. Which of the following statements explains why small businesses are generally more effective than large companies in specialty retailing a. Innovative people leave the bureaucracy of big business to start their own firms b. Specialty retailing relies on customization, which is not cost effective for large companies c. Large companies generally lack the specialists that are needed to make a retail store profitable d. Specialty retail stores are generally located in small towns where large organizations tend not to compete e. Specialty retailing requires a different organizational structure than is usually found in large companies
b
37. The first step for the entrepreneur in planning his or her business is to a. Choose a business location b. Engage in self analysis c. Develop an organizational plan d. Forecast sales revenues
b
38. A small business can only have one owner a. True b. False
b
12. The BCG matrix evaluates an organization's various businesses to identify which ones offer high potential and which drain organizational resources a. True b. False
a
13. During the maturity stage of a product life cycle, sales volume for a product typically reaches its peak a. True b. False
a
15. An example of ____ would be when credit card and mortage dividions of banks often get their customers from the bank's commercial loan customers a. Synergy in related diversification b. Resource deployment c. Competitive advantage d. Strategic scope e. None of these
a
16. If the marketing department adopts a strategy calling for substantial test marketing , aggressive advertising campaigns, and inducing customer product trials. Which of the following business strategy is being used by the company as a whole? a. Prospector b. Cost leadership c. Defender d. Focus e. Analyzer
a
17. The merging of analysis of internal and external factors influencing the organization's strategy is known as _______ a. SWOT analysis b. Organizational behavior and theory c. Definitional analysis d. Complete studies
a
22. Decision making is perhaps the most basic and fundamental of all managerial activities a. True b. False
a
26. When an employee comes to you with a feasibility evaluation of a decision alternative, he will give you information about how practical the alternative is for the organization a. True b. False
a
30. An effective decision may be one that minimizes loss, expenses, or employee turnover a. True b. False
a
32. The business plan should describe the match between the entrepreneur's abilities and the requrements for producing and marketing a particular product or service a. True b. False
a
41. A gender related problem that many organizations face today is called a. Glass ceiling b. Macho syndrome c. Mars and venus d. None of these choices e. The good ole boy network
a
42. Paula is an American working in a German company. She gets frustrated with the German tendency to really analyze decisions but is working to adjust. The company has been very successful for over 100 years, so paula is practicing a. Tolerance b. Empathy c. Conflict resolution d. Synergy e. Entropy
a
44. The _______ argument supports the idea that if managers work effectively with a diverse group the organization's as a whole will respond more effectively to its changing environment a. Systems flexibility b. Creativity c. Resource acquisition d. Cost e. Marketing
a
45. The majority of people who will graduate in the US from college are women a. True b. False
a
48. When a team is chosen for an important assignment the composition of the group will be noted by employees. It can indicate if the organization has a. Full structural integration b. Cultural identification c. Pluralism d. Equality e. Reverse discrimination
a
54. When the public relations department develops a crisis reaction plan to deal with the media it is developing a reaction plan a. True b. False
a
57. One problem with qualitative goals is that they a. Are difficult to measure and thus are not good indicators of success or failure
a
58. Making decisions is with the essence of management a. True b. False
a
66. Once the alternatives have been identified, a decision maker must analyze each one a. True b. False
a
67. Which of the following BEST example a single use plan a. The plan to build an aquatic center for the 2012 olympics b. The day care plan for dealing with a toddler who hits another c. The plan for how mcdonalds should cook its French fries d. The sign requiring all workers to wash their hands after visiting the restroom e. The "no smoking" sign on the restaurant door
a
70. Operational plans tend to be narrowly focused, have relatively short time horizons and involve lower level managers a. True b. False
a
73. Google wanted to compete more effectively against apple, so it offered to buy Motorola mobility. This is an example of a ______________ a. Strategic b. Operational c. Contingency d. Tactical e. Standing
a
The concept of product life cycle can be used to choose which strategy is appropriate for a given product at a particular point in time? a. True b. False
a
43. Maria gets upset when Raj takes off every Hindu holiday especially when he has to miss important meetings. If she had her way he would be allowed to take only national holdays. Maria is showing a willingness to communicate with Raj about diversity a. True b. False
b
46. Problems that arise from diversity should not be handled with policies but rather on an individual basis a. True b. False
b
49. The glass ceiling applies to all minorities a. True b. False
b
50. Standing plans are ongoing plans that provide ______ a. Stakeholders with identifiable goals that the organization will strive to achieve b. Guidance for activities performed repeatedly c. General directions of how to accomplish an identifiable task d. The stakeholders with identifiable goals that the organization will always strive to achieve
b
53. Managers must be able to follow through with plans even if conditions change a. True b. False
b
55. Many organizations develop a professional planning staff with overall responsibility for the planning process. Which of the following is not a reason for using a planning staff a. The fact that managers often lack required tools and skills to do a good job of planning b. The need to reduce coalition formation in the organization c. The need to reduce the workload of individual workers d. The need to integrate and coordinate planning activities e. The fact that managers tend to focus only on what is good for their part of the organization
b
56. Using a single objective can result in unethical practices because managers ______. a. Will manipulate the outcomes reported to assure that one objective is achieved b. Will ignore other important parts of their jobs in order to look good on that one measure c. Want to satisfy the stockholders of the organization d. Will use overtime to accomplish that single objective without reporting it
b
59. Which of the following organizations would face the most difficulty in developing long range plans? a. Those with stable, complex environments b. Those with dynamic complex environments c. Those with stable simple environments d. Those with dynamic simple environments
b
60. A _________ is an explicit statement that tells a manager what he or she can or cannot do a. Policy b. Rule c. Procedure d. Solution
b
64. In MBO or management by objectives, goals are often less well defined giving managers and employees more flexibility to respond to changing conditions a. True b. False
b
72. Starbuck's middle managers responsible for joint venture agreement with bookstores, hotels and airports work from a ________ plan a. Contingency b. Tactical c. Standing d. Operational e. Single
b
8. Fort Howard Paper Company has a cost saving manufacturing process that its competitors cannot imitate. Fort Howard Paper enjoys a. Product emulation b. A sustained competitive advantage c. Organizational threat d. Product integration e. Organizational opportunity
b
9. An international strategy in which the company attempts to combine the benefits of global scale effeciencies with the benefits and advantages of local responsiveness is called global strategy a. True b. False
b
An emergent strategy is a plan chosen and implemented to support specific goals. a. True b. False
b
14. Southwest Airlines gained access to the Atlanta market when it purchased Air Tran. This is an example of change in Southwest's a. Entropy b. Resource deployment c. Scope d. Synergy e. Industry niche
c
19. When Eric selected Janine for the marketing position, he had a feeling that she would fit into the culture of the department. Eric used_______ to fill the position a. The leeberg principle b. Empathy c. Intuition d. Synergy e. Optimization principle
c
27. When the manager knows what the alternatives are and the probabilities associated with each alternative are guaranteed, the manager is experiencing a. Decision making under risk b. Satisficing c. Decision making under certainty d. Bounded rationality e. Decision making under uncertainty
c
33. In which of the following ventures would a small business operator be most effective? a. Manufacturing b. Wholesale c. Services d. Transportation e. Construction
c
35. Four general factors that contribute to the failure rate of small businesses. Which of the following is Not one of those factors a. Insufficient capital b. Weak control systems c. Low startup costs d. Owner neglect e. Managerial incompetence or inexperience
c
4. Kraft food Inc offered to buy Cadbury, a confection and beverage company. Which advantage of related diversification could result from the merging of these two businesses? a. Creating a distinctive competence b. Reducing overhead c. Synergy d. Innovation e. Reducing business dependence
c
40. Four general factors contribute to the success rate of small businesses. Which of the following is NOT one of those factors? a. Careful analysis of market conditions b. Luck c. Empathy with customers d. Managerial competence e. Hard work, drive, dedication
c
51. CVS has more than 600 pharmacies with minute clinics in them. They are staffed with physician assistants. The plan to create a clinic is a _____ plan. It takes less than a year to carve the space out of existing floor plans a. Long range b. Contingency c. Short range d. Integrated e. Strategic
c
6. MNCs can exploit their advantages over domestic business. Which of the following is NOT an advantage? a. Economies of scope b. Location efficiencies c. Multiple accounting systems d. Multi-market flexibility e. Worldwide learning
c
65. Dorothy Thompson heads the research and development laboraty at a small chemical company, because she is not a chemist, she feels uneasy setting goals for the research chemists, so she asks them to set their own goals. Thompson's area suffers from which a. Dynamic and complex environment b. Inappropriate goals c. Reluctance to establish goals d. Reluctance to change e. Improper reward system
c
71. Planning for too long or too short a time period __________ a. Depends on the organization b. Is effective planning c. Is inefficient and ineffective d. Is the concept of commitment
c
74. The strategic goal set forth by central ice machine company was to be the leading seller of ice machine replacement parts in the united states. As part of its _______ plan it set up distribution contracts with six manufacturers of refrigeration units a. Contingency b. Integrated c. Tactical d. Long range e. Strategic
c
11. In environmental SWOT analysis, the external organizational position is analyzed according to its a. Strengths and weaknesses b. Strengths and threats c. Opportunities and weaknesses d. Opportunities and threats
d
36. Which of the following statements about the recent trends in franchising is TRUE? a. Franchising has not been a big factor in US retail sales due to its high costs b. Franchising grew rapidly but has leveled off at one third of retail sales c. Franchising grew rapidly until 1975, but its percentage of retail sales is now on the decline d. Franchising is growing rapidly and is projected to account half of all retail sales e. Franchising has declined in its popularity because of high risk it involves
d
39. In which of the following industries are you LEAST likely to find a small business owner performing well due to a lack of economies of scale? a. Transportation b. Construction c. Retailing d. Manufacturing e. Service
d
47. Lyne is an extrovert. Kyle is an introvert. Lyne has been trying to "bring Kyle out of his shell" Kyle is happy the way he is and wishes she would demonstrate ________ for others a. Monoculturalism b. Conflict c. Pluralism d. Empathy e. Entropy
d
52. Goals set for a new product launch are called a. Functional b. Autonomous c. Strategic d. Tactical e. Operational
d
62. Operational plans specify the details of ________ a. What materials are required for which product being produced b. When each product model is to be produced c. How the overall goals are to be achieved d. What department performs which functional process to accomplish the goals
d
63. When problems are _______, managers must rely on _________ in order to develop unique solutions a. Structured, pure intuition b. Unstructured, programmed decision making c. Structured, non program decision making d. Unstructured non programmed decision making
d
The GE business screen is an expansion of the ideas from a. The generic strategy approach b. Porters competitive strategies c. The miles and snow typology of business strategy d. The bcg matrix e. The product life cycle approach
d
10. Companies should invest carefully and monitor closely a _______, which is a product that has a small share of a growing market a. Star b. Rising star c. Cash cow d. Defender e. Question mark
e
20. The us government has never faltered on its debt payments, although it came close in august 2011. Investing in treasury bills is an example of a. Bounded rationality b. Decision making under uncertainty c. Decision making under risk d. Satsficing e. Decision making under certainty
e
21. You tube was operating at a loss when Google bought it. Three years later it was still operating at a loss. Google may have experienced______? a. Empathy b. Intuition c. Political forces d. Risk propensity e. Escalation of commitment
e
25. the key to making effective decisions under conditions of risk is to a. develop a rational system for ordering your choices in hierarchy of importance b. recognize that information is not available and approach the situation intuitively c. recognize that you do not know all the alternatives related to the decision d. Identify the alternatives with completely predictable outcomes e. Determine the probabilities associated with each alternative as accurately as possible
e
31. If you make a decision that does not turn out as planned Warren Buffet advises "When you find yourself in a hole, stop digging" what behavioral influence on decision making does this attempt to prevent? a. Risk propensity b. Empathy c. Intuition d. Political forces e. Escalation of commitment
e
61. In what order should the following be developed? a. Strategic, tactical, mission, operational b. Mission, tactical, strategic operational c. Tactical strategic mission operational d. Mission operational strategic tactical e. Mission strategic tactical operational
e
68. A contingency plan a. Is unnecessary for organizations that face a dynamic environment b. Makes an organization less flexible c. Is used in conjunction with the organizations originally developed plan d. Can be used only at a strategic level e. Is developed after considering contingency events
e
69. The mission statement should include all EXCEPT which of the following? a. Premises b. Values c. Purpose d. Directions e. Tactics
e
7. Using the Boston consulting Group matrix, SBUs are classified of the basis of? a. Market growth rate and financial strength b. Cash generation and potential product life cycle c. Financial strength and product life cycle d. Market share and cash generation potential e. Market share and market growth rate
e
