MGMT quizzes

Which of the following is the correct order of planning steps within an organization?

Mission statement & vision statement, strategic planning, tactical planning, operational planning

__________ refers to the idea that the economic value of separate, related businesses under one ownership and management is greater together than the businesses are worth separately.

Synergy

1.Which of the following is not a chief skill companies seek in top managers today?

The ability to give a wide range of orders authoritatively

______ time is a preference for doing one thing at a time.

Monochronic

Which of the following countries is a member of Mercosur?

Paraguay

Which of the following is a type of objective for MBO?

Personal development

Which of the following is a benefit of planning?

Planning helps you cope with uncertainty.

1.A group of people who work together to achieve some specific purpose is/are called

an organization

1.Petra is a new manager for a household products company, after getting a promotion from an administrative job that she found boring. But now she frequently experiences ______, like when she had to explain the new product her team is developing to the CEO and several board members. As psychologist Csikzentmihalyi predicts, her ideal state would be an emotional zone between that and boredom.

anxiety

In terms of difficulty, the best goals are

challenging but realistic.

1.The ability of an organization to outperform others by producing goods or services more effectively than its competitors is called its

competitive advantage.

1.To be ______ as a manager means to make the right decisions and successfully carry them out to achieve goals.

effective

1.Tracy, a manager at a busy warehouse, was slow to hire new employees, preferring instead to encourage improvements from his current staff. He carefully watched his other costs too, performing equipment maintenance on a regular basis to improve its lifespan. Tracy would best be described as a(n) _____ manager.

efficient

A vision or projection of the future is called a(n)

forecast

If your Chinese coworker in Hong Kong tells you that you have gained weight, you should interpret this comment as

friendliness

Meredith is a seasoned American manager, currently working in Brazil. She has noticed that some of her management techniques work well in her overseas position, but sometimes she finds it more effective to defer to the practices of her Brazilian counterparts. Meredith can be described as a(n) ______ manager.

geocentric

__________ is the practice of a foreign company exporting products abroad at a lower price than the price in the home market or even below the costs of production in order to drive down the price of the domestic product.

Dumping

1.The concept of a "flat" world means

globalization has leveled the playing field for emerging economies

Alita is participating with other division heads in a discussion about new international competition for the firm and what the organization's goals should be for the next three years. She is participating in

strategic planning.

A ______ represents an "educated guess" about what must be done in the long term for survival or the prosperity of the organization or its principal parts.

strategy

A manager assessing the organization's access to capital is involved in analysis of

strengths or weaknesses depending on the outcome of the assessment.

Managers at Cimarron Saddlery expect to meet profitability goals for the company by cutting costs through a 70% increase in global sourcing of leather and other materials over the next two years. This is an example of a(n)

tactical goal.

1.In seeking competitive advantage, the first law of business is to

take care of the customer.

1.Marie recently became a managing partner at her law firm. Though her job has changed, she still needs to have the necessary ______ skills to advise and review the contracts of the real estate attorneys that she manages

technical

1.Conceptual skills are particularly important for ______ managers.

top

Productivity gains from MBO are higher when an organization has

top-management commitment.

1.Which type of nonprofit organization offers services to all clients within its jurisdiction?

Commonweal

Jordan, a sales manager, met with his staff to discuss that they were only a third of the way to their sales goal, but halfway through the sales period. He was looking for suggestions to improve second-half performance. Which part of the planning/control cycle is Jordan doing?

Controlling the direction.

1.Which of the following is not an area in which an organization must stay ahead of its competitors to achieve competitive advantage?

Environmental action

1.Tyler has coffee with one of his direct reports almost daily. He does this to inquire in an informal way about progress on the job, and to provide coaching and support, as well as appropriate congratulations for special efforts. Tyler is exhibiting which type of managerial skill?

Human

Which of the following is not a typical cause of bad planning?

Inadequate planning budgets.

John recently received his CPA license and plans to run a small tax consulting business, so he just put up a website. What advantage does his business have over larger competitors?

It can change direction quicker.

An example of a firm that pursues a differentiation strategy is

Lexus

Which of the following is a negative effect for the United States of global economic interdependency?

Loss of well-paying jobs

David was feeling very anxious, confused, and out of place since he arrived for his new job in Taipei, Taiwan. It seemed like just about everything was different from what he was used to. David was experiencing

culture shock.

The adaptive cycle portrays businesses as continuously cycling through three kinds of business decisions: entrepreneurial, ______, and administrative.

engineering

An organization that offers unique, superior products or services to a narrow market is pursuing a strategy of

focused differentiation.

When analyzing the "W" in SWOT analysis, a manager might take note of

high turnover of employees.

How much pride and loyalty people should have for their family or organization is a cultural dimension in the GLOBE project known as

in-group collectivism.

1.One way to think of ______ is "the art of getting things done through people."

management

1.The pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading, and controlling the organization's resources is called

management

Effective strategic management involves

managers from all parts of the organization.

Oxfam International is a nonprofit that works in 90 countries on issues of poverty advocacy and eradication, as well as disaster relief. Oxfam is a(n)

multinational organization

1.The _________ effect states that a manager's influence on the organization has implications far beyond the results that can be achieved by one person acting alone.

multiplier

Environmental factors that the organization may exploit for a competitive advantage are known as

organizational opportunities.

Avon, the world's leading direct seller of beauty products, has a(n) ________ statement, which is "to be the company that best understands and satisfies the product, service, and self-fulfillment needs of women globally."

vision