Mgt 202 Study Questions

All of the following are examples of stakeholders except -suppliers -owners -employees -governments -All of these are examples of stakeholders

All of these are examples

_____ offer space, shared services, and advice to help get small businesses started.

Business incubators

_________ is the process of measuring performance and taking action to ensure desired results

Controlling

______ involves illegal practices to further one's business interests

Corruption

_____ is a shared set of beliefs, values, and patterns of behavior common to a group of people

Culture

Equity financing involves borrowing money that must be repaid over time, with interest

False

Preferences regarding the means to desired ends are terminal values; while preferences about desired end states are instrumental values

False

_____ cohorts consist of people born within a few years of one another and who experience somewhat similar life events during their formative years.

Generational

An employee whose mind is a critical asset to employers and who adds to the intellectual capital of an organization is called a

Knowledge worker

Which of the stages of the life cycle of entrepreneurial companies is described as refining the strategy, continuing growth, and managing for success?

Maturity stage

Which of the following is NOT an organizational trend and transition relevant to the study of management? -importance of networking -emphasis on teamwork -Renewed belief in human capital -demise of "command-and-control" -old workforce expectations

Old workforce expectations

Quality of work life

The overall quality of human experiences in the workplace

_______ managers pay special attention to the external environment, looking for problems and opportunities and fining ways to deal with them

Top

Moral absolutism suggests that ethical standards apply absolutely across all cultures

True

That which is accepted as "good" and "right" as opposed to "bad" or "wrong" in the context of the governing moral code is called

ethical behavior

An attempt to impose one's ethical standards on other cultures is called

ethical imperialism

Real management learning starts with commitment to

experience and self-assessment

A __________ is a local operation completely owned by a foreign firm

foreign subsidary

Identifying strengths and weaknesses, potential costs and benefits, and potential markets or applications is step ______ of the innovation process

four

A _________ is where a business owner sells to another person the right to operate the same business in another location, under the original owner's business name and guidance

franchise

which of the following is NOT an example of an instrumental value? -courage -ambition -imagination -self-discipline -freedom

freedom

International joint ventures are types of ____________ in which foreign and domestic firms act as partners by sharing resources and knowledge for mutual benefit

global strategic alliances

Which of the following is NOT a characteristic of entrepreneurs? -high need for affiliation -tolerance for ambiguity -self-confidence -internal locus of control -high energy level

high need for affiliation

Environments with _____ rates of environmental change and _____ complexity require the greatest flexibility and adaptation

high; high

The _____ chooses to behave unethically

immoral

The process of coming up with new ideas and putting them into practice is called _____

innovation

Which of the following personality traits of entrepreneurs is defined as their belief that they are self-directing and are in control of their own destiny?

internal locus of control

The process of arousing enthusiasm and inspiring efforts to achieve goals is called

leading

Internet censorship is a condition in the ______ environment of organizations

legal-political

Trends in the new workplace include which of the following?

more attention by organizations to valuing people as human assets

The process of building and maintaining good working relationships with others who may help implement a manager's work agendas is called __________

networking

Common legal problems faced by international businesses involve all of the following EXCEPT: -offering overpriced resources -handling intellectual property rights - patents; trademarks, and copyrights -incorporation practices and business owners -negotiating and implementing contracts with foreign parties -handling foreign exchange

offering overpriced resources

Thinking about new possibilities is step ______ of the innovation process

one

Trade Tools Manufacturing (TTM) transforms resource inputs from the environment such as wood and steel into product outputs such as Rakes and Plows. TTM can be described as an:

open system

The process of management involves the functions of planning, __________, leading, and controlling

organizing

Which of the following is not counted as part of the environmental or natural capital -land -water -atmosphere -people -minerals

people

When a team leader clarifies desired work targets and deadlines for a work team, he or she is fulfilling the management function of _______

planning

Which of the following is NOT an example of a functional manager? -accounting manager -sales manager -marketing manager -plant manager -production supervisor

plant manager

If Jason is exhibiting the negative, irrational attitudes towards members of diverse populations in his department, it is called:

prejudice

If your organization's approach to corporate social responsibility is most accurately articulated as "Take leadership in social initiatives," a(n) __________ strategy is being utilized

proactive

The three Ps of organizational performance consist of which of the following

profit, people, and planet

If American firms like Walmart and other department store chains are hurt by systematic efforts by Indian government to develop policies that build their domestic companies at the expense of US firms, it is called

protectionism

Criteria for choosing joint venture partners include all of the following EXCEPT: -employment of a strong local workforce -providing financial backing -familiarity with your firm's major business -good profit potential -valuing its customers

providing financial backing

Productivity is a measure of the quantity and _______ of work produced, relative to the cost of inputs

quality

The first step in the seven-step checklist for dealing with an ethical dilemma is which of these? -double-check with the spotlight questions -decide which option to follow -take action -test each option -recognize the ethical dilemma

recognize the ethical dilemma

Performance efficiency is a measure of the ________ associated with task accomplishment

resource costs

What recognizes the potential for valuable innovations to be launched from lower organizational levels and diverse locations, including merging markets

reverse innovation

An effective manager achieves both high-performance results and high levels of ________ among people doing the required work

satisfaction

The ability to understand oneself, exercise initiative, accept responsibility, and learn from experience is called

self-management

According to the U.S. Small Business Administration (SBA), an entity with fewer than 500 employees, which is independently owned and operated, and does not dominate its industry is called a

small business

The unique form of ethical entrepreneurship that seeks new ways of solving pressing social problems is called:

social entrepreneurship

A _____ is an individual pursuing business for a profit

sole proprietorship

The accounting manager for a local newspaper would be considered a ______ manager, whereas the editorial director would be considered a _______ manager

staff, line

Which of the following terms describe a group composed of suppliers, governments, customers, owners, media, and local communities

stakeholders

How the leadership transition and related financial matters will be handled in family businesses is called a

succession plan

The manager's role in the "upside-down pyramid" view of organizations is best described as providing __________ so that operating workers can directly serve _________

support, customers

Organizations with real commitments to _____ pursue specific goals like carbon reduction, energy efficiency, ethical sourcing, and food security

sustainability

The ability to use technology and commitment to stay informed on the latest technological developments is called

tech IQ

Preferences about desired end states, for example, self-respect, family security and happiness, are known as

terminal values

All of the following are views of ethical behavior EXCEPT -utilitarian view -moral rights view -theoretical view -individualism view -justice view

theoretical view

Which of the following is NOT one of the "myths" about entrepreneurs? -they are gamblers -they must have a degree in business -all of these are myths about entrepreneurs -they are made, not born -they are young

they are made, not born

There are ______ predictable progressive stages to a small business

three

A(n) _________ is a global corporation or MNE that operates worldwide on a borderless basis

transnational corporation

The social performance of an organization can be described as driven by compliance, which is acting to avoid adverse consequences, or by conviction, which is acting to create positive impact

true

Which of these refers to the underlying beliefs and attitudes that help determine behavior?

values

Michael is an individual who exposes the misdeeds of others in his organization in order to preserve ethical standards and protect against wasteful, harmful, or illegal acts. Michael can be described as a

whistlblower

_________ report to middle managers and supervise non-managerial workers

Team leaders

___________ is a significant pathway to business growth for both individual firms and economies by providing new customer bases and expanded markets for products and services

Exporting

The family firm institute reports that family businesses account for___% of new jobs created in the US

78

Somewhere around ___% of American businesses meet the definition of "small business" used by the Small Business Administration

99

The _________ is a political and economic alliance of European countries that have agreed to support mutual economic growth by removing barriers that previously limited cross-border trade and business development

EU

Suppose Susan from USA works for a multinational company and has just arrived in a remote country in Africa for her work assignment. At the first problem she encounters in speaking the language, she exclaims loudly, "I wish everyone in this little country just spoke English like the rest of the civilized world!" Susan's behavior is an example of which of the following concepts?

Ethnocentrism

The euro is now the common _____ currency

European

Which of the following statements BEST describes a licensing agreement? -A local operation is completely owned and controlled by a foreign firm -Member countries are given rights to sell products from each other's markets -One firm pays a fee for rights to make or sell another company's products -A fee is paid for rights to use another firm's name and operating methods -A co-ownership arrangement exists with local partners

One firm pays a fee for rights to make or sell another company's products

__________ tries to forecast political disruptions that can threaten the value of a foreign investment

Political risk analysis

_____ innovation results in better ways of doing things

Process

Which of the following is not one of the personality traits and characteristics of classic entrepreneurs -pursues opportunities others may view as problems or threats -All of these are personality traits and characteristics of classic entrepreneurs -run new ventures over and over again -pursues opportunities others fail to recognize -risk-taking

Run new ventures over and over again

The requirement that a manager answer to a higher-level boss for performance results achieved by a work team is called __________

accountability

A wealthy individual willing to invest in return for equity in a new venture is called a(n) ______

angel investor

The research of Mintzberg and others concludes that managers __________

are never free from the pressure of performance responsibility

A ________ entrepreneur is someone who takes risks to pursue opportunities in situations that others may view as problems or threats

classic

A first mover advantage ______________

comes from being first to exploit a niche or enter a market

Scholars in the area of _____ management study how management perspectives and practices systematically differ among countries and cultures

comparative

Tool Makers, Inc. make garden rakes extremely well and of the best quality in the industry. Their rakes are difficult to copy, and give it an advantage over competitors in the marketplace. It can be said that Tool Makers have a

competitive advantage

Which of the following is NOT part of the general environment? -competitors -natural environment conditions -all of these are part of the general environment -technological conditions -economic conditions

competitors

Which of Katz's essential managerial skills is most important for top level managers?

conceptual skill

The management function of __________ is being performed when a retail manager measures daily sales in the women's apparel department and compares them with daily sales targets

controlling

The four strategies of corporate social responsibility include all of the following EXCEPT -obstructionist strategy -accommodative strategy -proactive strategy -corrective strategy -defensive strategy

corrective strategy

When someone holds a negative attitude toward minorities, this is an example of __________. When a team leader with a negative attitude toward minorities makes a decision to deny advancement opportunities to a Hispanic team member, this is an example of __________

discrimination, prejudice

The composition of a workforce in terms of differences among people on gender, age, race, ethnicity, religion, sexual orientation, and able-bodiedness is called workforce:

diversity