CH 6 SB

what is true about top management compensation?

many firms are trying to align CEO compensation with performance

Why is planning a key management function?

Accomplishing the other functions depends heavily on having a good plan.

Name the three key elements in a goal.

An attribute sought A target to be achieved A time frame

which statement is true of authentic leaders?

Authentic leaders are identified by the way in which they conduct themselves with stakeholders.

In public corporations the CEO's boss is the firm's _____.

Board of Directors

Jasmine needs to correct a quality control issue with her company's product. Clear standards for quality exist, and she has measured present performance against these standards. Jasmine has discovered a deviation where the company is not meeting the standard and is now investigating the causes of those deviations. What function of management is Jasmine involved in?

Controlling

Which of the following deal with potential disasters such as product tampering, oil spills, fires, earthquakes, a computer virus, or an airplane crash?

Crisis Management Contingency Plans

Fatima is manager for a retail organization. Her favorite part of the job is working one-on-one with employees, motivating them to excel, and encouraging them in their work. Fatima enjoys the _____ function of her management job.

Directing

_____ is the part of management that involves motivating and leading employees to achieve organizational objectives.

Directing

True or false: Although managers engage in four primary activities--planning, organizing, directing, and controlling--the activities are not interrelated; a manager can only perform one activity at a time.

False

Which type of manager is responsible for obtaining the money needed for the successful operation of the organization?

Financial Manager

The level of management that includes general managers, division managers, and branch and plant managers who are responsible for tactical planning is _____ _____.

Middle management

The interpersonal type of managerial role includes which three specific roles?

Liaison Leadership Figure

Which discipline is the process of planning, organizing, leading, and controlling people and organizational resources in order to accomplish the goals of the organization?

Management

______ can be defined as a process designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment.

Management

Which of the following best characterizes middle managers?

Narrowly focused, spends the most time on organizing

_______, the ends or results desired by an organization, derive from the organization's mission and they may be elaborate or simple.

Objectives

Managers are engaged in the ______ function of management when they review plans and determine what activities are necessary to implement them; then, divide the work into small units and assign it to specific individuals, groups, or departments.

Organizing

Middle managers spend the majority of their time on the ______ function of management.

Organizing

Select from the following the activities managers engage in so as to reach the organization's objectives.

Organizing Directing Controlling Planning

Which function of management is a crucial activity as it lays the foundation for all other management functions?

Planning

What are four common objectives of organizations?

Profit Growth Efficiency Competitive advantage

COO

Responsible for the daily operations of the company

Select the three general types of plans an organization uses to meet its objectives.

Strategic Operational Tactical

Which three activities are likely to be performed by first-line managers?

Supervising workers performance Implementing the plans of middle management Supervising daily company operations

Which of the following statements is TRUE regarding tactical plans?

Tactical plans should be periodically reviewed and updated.

Which statement best describes the importance of monitoring the consequences of decisions?

The consequences of decisions may not be apparent quickly enough without monitoring.

The highest level of management is _____ and consists of the president and other key company executives who develop strategic plans and have overall responsibility for the organization.

Top Management

A mission statement outlines the organization's fundamental purposes. It should address which five of the following?

Who are our customers? What are our responsibilities with respect to being a good steward? What is our operating philosophy? What are our core competencies and competitive advantages? Who are we?

what has been a recent trend with regard to the different levels of management within an orginzation?

_______

Growth objectives essentially relate to

adapting and releasing new products in the market.

Knowing how to sort large amounts of information in order to find relevant facts to resolve a problem or issue is an example of ______.

analytical skills

Skills that involve the ability to picture the organization as a whole and the relationship among its various parts are _____ skills.

conceptual

TopToBottom.com, a leading online retailer, uses the services of Privacy Pals Inc., a small startup that helps companies manage and keep their electronic data safe. This helps TopToBottom.com keep a backup of its proprietary information in case of virus attacks or any sort of damage to property. This is an example of _______?

contingency planning

All organizations must consider the possibility of unplanned disasters and create _____, which specify how the company will handle a variety of unplanned situations.

contingency plans

The process of evaluating and correcting activities to keep the organization on course is known as _____.

controlling

Production and operations managers ______.

develop and administer the activities involved in transforming resources into goods, services, and ideas ready for the marketplace

Providing incentives to employees to motivate them toward achieving organizational objectives relates to the management function of

directing

On which two management functions do first-line managers spend the majority of their time?

directing and controlling

When a manager attends an award banquet, he or she is acting in which interpersonal role?

figure

Liberty lockworks is contemplating opening a new plant in the Southeast United States. The company needs to know if it has the capital to make such an investment and if so, will it affect the organization's overall goals. This type of decision would fall under the responsibility of a ______ manager.

financial

Positions such as foremen, supervisors, and office service managers are a part of the ________ of a company.

first-line management

Managers who are directly responsible for supervising workers and evaluating their daily performance are called _____.

first-line managers

Which of the following is NOT one of the three general types of plans an organization uses to meet its objectives?

functional

To be successful, company _______ should be specific; containing an attribute sought, a target, and a time frame.

goals

Which skills are defined as the ability to deal with people, both inside and outside the organizations?

human relations skills

CEO

manages the overall strategic direction of the company

By engaging in four essential activities (planning, organizing, directing, and controlling) a __________ works to achieve the organization's objectives.

manager

Sven manages the computer department at his company. He helps the organization implement its general guidelines by managing the specific operations related to his department. Sven is a _______?

middle manager

A ______ is an outline of the fundamental purpose and basic philosophy of an organization.

mission statement

June is working as part of the strategic planning team in her organization. Currently, the team is developing a clear statement explaining the organization's reason for existence. June's team is writing a _____.

mission statement

Tactical plans typically cover a time frame of ______.

one year or less

Jake works in production for his company. Each week his work group is assigned a production quota to ensure enough product is available to meet the goals of the company. A production quota is an example of a(n) _____ plan.

operational

________ plans are very short-term plans that specify what actions individuals, work groups, or departments need to accomplish in a month, a week, or even a day.

operational

Which of the following refers to the actions specific individuals, work groups, or departments need to accomplish in order to achieve the company's tactical plan?

operational planning

Pamela manages a large blood donation facility. One of her roles is structuring the company's resources and activities to accomplish its objectives efficiently and effectively. What management function does this example pertain to?

organizing

The structuring of resources and activities to accomplish objectives in an efficient and effective manner describes the management function of ______.

organizing

Considered the first function of management, _____ is the process of determining the organization's objectives and deciding how to accomplish them.

planning

The process of determining the organization's objectives and deciding how to accomplish them is known as ______.

planning

Top managers spend the majority of their time on the ______ function of management.

planning

A marketing Manager is responsible for ____?

planning, pricing, and promoting products and overseeing their distribution

When analyzing options in the decision-making process, managers must consider the appropriateness and ________ of each option.

practicality

Which type of manager is responsible for the activities involved in getting goods and services ready for the marketplace?

production and operations managers

A good mission statement should address all of the following topics EXCEPT ______.

profit targets

CPO

responsible for managing the privacy concerns of the organization

A ______ planning process determines the course of action that a firm will use to fulfill its overall strategy and mission.

strategic

Plans that establish the long-range objectives and overall strategy or course of action by which a firm fulfills its missions are referred to as ______ plans.

strategic

This type of plan may include plans to add products, purchase companies, sell unprofitable segments of the business, issue stock, and move into international markets.

strategic plan

If an American surf board manufacturer has the strategic plan to expand sales into Australia, then the short-range plan to host surfing competition events in Australia is a ____ plan.

tactical

Short-range plans covering a period of one year or less that are designed to implement the activities and objectives specified in an organization's strategic plan are referred to as _____?

tactical plans

A manager with ______ expertise has skills that involve specialized knowledge and training needed to perform jobs that are related to particular areas of management.

technical

What is an effective practice with regards to tactical plans?

they should be periodically reviewed and updates by an organization's management

Positions such as Chief Executive Officer, President, Vice President, and Chief Financial Officer are examples of __________ positions.

top management