Final Exam (Exams 1-4)
What are the five steps in the decision making process?
1. Identify and define the problem 2. Generate and evaluate alternative COAS 3. Decide on a preferred COA 4. Take action to implement the decision 5. Evaluate results
List Kohlberg's three levels of moral development
1. Pre-conventional stage 2. Conventional stage 3. Post-conventional stage - "Principled stage"
(Exam 1 start) Which of the following refers to the ability to manage ourselves and our relationships effectively? A) Emotional intelligence B) Technical Skill C) Communication Skill D) Competitive Intelligence
A
A common management problem when implementing decisions is escalating commitment: A) True B) False
A
A person who guides the performance of an organization as a whole or of one of its major parts is called a ______ A) top manager B) middle manager C) first line manager D) Supervisor
A
Ethical dilemmas often arise out of the conflicting desires of managers, employees, and customers: A) True B) False
A
If you are a systematic thinker, you will: A) Be analytical in your approach B) Be creative in your methods C) Generally be spontaneous D) Try to stay very flexible in your thinking
A
In a ______ organization, the top management has the power to make most of the important decisions A) Centralized B) Flat C) Decentralized D) Wide
A
Managers who are problem solvers will make decisions and try to solve problems when required: A) True B) False
A
The evaluation of a decision should not only consider whether the results were gained, but should also determine whether any undesirable side effects occurred: A) True B) False
A
The generation of a novel idea or approach that solves a problem or identifies an opportunity is called: A) Creativity B) Problem solving C) Availability heuristic D) Representative thinking
A
The idea that the role of business is solely to maximize profits and shareholder value represents the classical view of CSR: A) True B) False
A
The problem with the classical decision model is that it does not take into account the cognitive limitations that managers, as humans, have: A) True B) False
A
The view "No one will ever know about it" is a way of _____ unethical behavior A) Rationalizing B) Acknowledging C) Eliminating D) Dismissing
A
To increase the power & visibility of ethics codes, some companies have new employees sign an agreement to follow the code as a condition of employment: A) True B) False
A
Which of the following is an example of a strategic question at the business strategy level? A) "How are we going to compete for customers in a competitive market?" B) "What is our role in supporting engineering?" C) "How many divisions should we have?" D) "In what industries and markets should the corporation compete in?"
A
Which of the following is an example of a strategic question for a functional strategy? A) "How can we best use the marketing Dept to support implementation of the business strategy?" B) "What Kind of product or service mix should we have?" C) "How are we going to compete for customers within this industry and in this market?" D) "In what industries and markets should the corporation compete in?"
A
Which of the following is not an advantage that planning offers? A) Ensuring success B) Helping us to sharpen our focus C) Increasing our flexibility D) Avoiding complacency
A
Which of the following is the final step in the control process? A) Taking corrective action as needed B) Comparing performance with standards C) Establishing objectives and standards D) Measuring actual performance
A
Which of the following refers to the process of developing alternative plans in anticipation of having problems with implementing the existing plans? A) Contingency planning B) Forecasting C) Scenario Planning D) Budgeting
A
Which of the following terms best describes an attempt by one culture to impose its values on another culture? A) Ethical imperialism B) Moral rights C) Cultural relativism D) Moral absolutism
A
Which theory assumes that people are willing to work, capable of self-control, responsible, and creative? A) Theory Y B) Scientific Management C) Theory X D) Bureaucratic Management
A
_____ are methods that lead to superior performance A) Best practices B) Complacency traps C) Operating procedures D) Forecasting
A
A ____ clarifies the purpose of an organization and expresses what it hopes to be in the future A) budget B) vision C) policy D) procedure
B
A _____ graphically displays the scheduling of tasks required to complete a project A) Business chart B) Gantt chart C) Pareto chart D) Project chart
B
Based on the Hawthorne study findings, as a manager you know that_______ A) Workers will not sacrifice pay just to keep coworkers happy B) Giving special attention to your employees will likely increase their performance C) Workers react consistently to work conditions and wages D) Increasing the lighting of employees' work area will increase their performance
B
Broad beliefs about what is appropriate behavior are called_____ A) Laws B) Values C) Judgments D) Ethics
B
Effective managers help others achieve high performance and ____ in their work A) Profits B) Satisfaction C) Salary D) Rewards
B
From Maslow's hierarchy of needs theory, which of the following needs is considered to be the most basic? A) Self-actualization B) Physiological C) Safety D) Social
B
In effective organizations, there is generally only one type and one level of managers: A) True B) False
B
Managers need to know that the only way the control process begins is by: A) Comparing results with established standards for measurement B) Establishing OBJ's and standards for measuring them C) Measuring actual performance D) Taking necessary action
B
Marjorie, VP of Exterior Lighting Co., believes she can improve production by analyzing workflow and then carefully designing the factory layout to support that workflow. Marjorie's focus is on ______ A) Scientific managemnet B) Operations Management C) Operations Research D) Knowledge Management
B
Susan has certain preferences about desired end states. These preferences are referred to as ____ values. A) Instrumental B) Terminal C) Righteous D) Ethical
B
The ______ view focuses the ethics analysis on long-term advancement of self-interests A) Utilitarian B) Individualism C) Moral rights D) Justice
B
The phrase "When in Rome, do as the Romans do" reflects the ethical position of _______ A) Moral absolutism B) Cultural relativism C) Individualism D) Distributive Justice
B
The riskiest growth strategy is through __________. A) Vertical integration B) Unrelated diversification C) Related Diversification D) Backward integration
B
The upside-down pyramid view puts workers at the top of the organization: A) True B) False
B
To be effective, the management functions are always performed one at a time and step-by-step: A) True B) False
B
When a company closes and sells its assets in order to pay its debts, it is called ______ A) divestiture B) liquidation C) Diversification D) Restructuring
B
Which of the following analyzes business opportunities according to market growth rate and market share? A) SWOT Analysis B) BCG Matrix C) GE Matrix D) PEST Analysis
B
Which of the following concepts suggests there is no one right way to behave and ethical behavior is always dependent on a cultural context? A) Universalism B) Cultural Relativism C) Procedural rights D) Ethical Imperialism
B
Which of the following set of skills is most important at lower organizational levels? A) Conceptual B) Technical C) Human D) Planning
B
Which of the following statements is true about restructuring? A) It occurs when a business closes and sells its assets to pay creditors B) It reduces the scale or mix of operations C) It is done by acquiring suppliers or distributors D) It involves expansion of an organizations' current operations
B
______ is a technique that makes use of external comparisons to evaluate current performance A) Forecasting B) Benchmarking C) Allocating D) Justifying
B
collective brainpower or shared knowledge of a workforce is called_____ A) Personality trait B) Intellectual Capital C) Groupthink D) Individual knowledge
B
(Exam 2 start) The process of predicting what will happen in the future is called: A) Contingency planning B) Scenario planning C) Forecasting D) Zero-based budgeting
C
A ____ graphically describes the arrangement of work positions within an organization A) informal structure B) PERT chart C) Organization chart D) Business strategy
C
A _____ decision applies a pre-existing solution to a routine problem A) Nonprogrammed B) Complex C) Programmed D) Correct
C
A _____ skill is the ability to work well in cooperation with other people A) Decisional B) Technical C) Human D) Conceptual
C
A ______ seeks the lowest costs of operations within a special market segment A) multi domestic strategy B) focused differentiation strategy C) Focused cost leadership strategy D) Retrenchment strategy
C
A special strength of an organization that gives it a competitive advantage can be called a ______ A) unfair advantage B) Differential strategy C) Core competency D) Differential advantage
C
According to Maslow, which of the following is the highest need category? A) Having enough $ to pay the rent B) Being accepted into a frat on campus C) Having a job you love, which also allows you to feel fulfilled D) Getting a date for the weekend
C
All of these are part of Max Weber's bureaucracy EXCEPT______ A) Careers based on merit B) Formal rules and procedures C) Employees personal needs D) Division of Labor
C
In a SWOT Analysis, outdated facilities and obsolete technologies will be considered as ______ A) Threats B) Opportunities C) Weaknesses D) Strengths
C
In the context of a governing moral code, which of the following primarily concerns what is "right" or "good"? A) MNGMNT Behavior B) Legal behavior C) Ethical Behavior D) Individual Behavior
C
James is a proactive information gatherer and a forward-thinking manager. He is an example of a: A) problem solver B) problem creator C) problem seeker D) problem avoider
C
Plans that define the various short term activities needed to implement strategic plans are called ____ plans A) Strategic B) Business C) Operational D) Long term
C
Qualitative approaches to forecasting generally use: A) Statistical analysis of historical data B) Math models C) Expert opinions D) Surveys
C
Susan is a manager who oversees the work of large departments or divisions consisting of several smaller teams at Colors Inc. Susan most likely holds the position of __________ at Colors Inc. A) Director B) CEO C) Middle manager D) A first-line manager
C
The ______ view holds that behaviors that deliver the greatest good to the greatest number of people are ethical A) Justice B) Moral rights C) Utilitarian D) Best
C
The primary responsibility of the board of directors is to______ A) Do tactical planning B) Tell all the managers what to do C) Oversee the affairs of the organization D) Make daily operational decisions
C
The three different conditions or problem environments in which managers make decisions are: A) certain, absolute, and risk B) good, neutral, and bad C) certain, risk, and uncertain D) Absolute, uncertain, and indeterminate
C
Two key elements of Weber's bureaucracy were fairness and ______ A) Informality B) History C) Efficiency D) Participation
C
WHICH of the following divisional structures brings together people and jobs performed in the same location? A) Product structures B) Customer structures C) Geographical structures D) Process Structures
C
When an organization reduces the size of its existing operations, it is called ___________ A) Divestiture B) liquidation C) downsizing D) diversification
C
Which of the following is the 2nd step in the control process? A) Comparing Performance with standards B) Establishing OBJ's and standards C) Measuring Actual performance D) Taking Necessary Action
C
Which of the following scenarios illustrates concurrent control? A) Susan, the customer care manager in an amusement park, actively seeks feedback form visiting tourists B) Jean, the manager in a restaurant, ensures the veggies used in cooking are organic C) Rebecca, the supervisor in a toy factory, gives suggestions to workers when they look for new designs D) Joshua, the stock manager in a steel factory, checks every evening whether adequate stocks are available for the next day's operations
C
_____ Limitations make it hard for managers to be fully informed and make perfectly rational decisions in all situations A) Behavioral B) Intuitive C) Cognitive D) Financial
C
______ is the strategy of working with rivals on projects of mutual benefit A) Competition B) Collusion C) Co-opetition D) Restructuring
C
_______ occurs as people exercise self-discipline in fulfilling job expectations A) Steering control B) Feedback control C) Internal Control D) Concurrent Control
C
one-time activities with many component tasks that must be completed in proper order and according to budget are called ____ A) Reviews B) Assessments C) Projects D) Controls
C
A ________ emphasizes formal authority, rules, order, fairness, and efficiency A) organic organization B) horizontal structure C) decentralized organization D) bureaucratic organization
D
A plan that commits resources to projects or activities is called a ______ A) strategy B) Vision C) policy D) budget
D
A strategy for expanding an organization's current operations is: A) Restructuring strategy B) Stability C) Retrenchment D) Growth
D
A strategy with the OBJ of correcting performance difficulties in a business through radical changes to current operations is called a ______ strategy A) Co-opetition B) Growth C) Status Quo D) Retrenchment
D
According to Michael Porter, industry attractiveness can be identified based on the five forces that include: A) Profitability, market share, workforce quality, innovativeness, social responsibility B) Cost efficiency, product quality, service quality, workforce quality, and innovativeness C) Differentiation, cost leadership, focused differentiation, focused cost, and integration D) Competitors, new entrants, suppliers, customers, substitutes
D
An organizational structure that combines functional and divisional approaches to emphasize project or program teams is called ________ A) Informal B) Operational C) Vertical D) Matrix
D
Big Money Bank has several branches that are headed by branch managers. The loan manager, investments manager, operations manager, and trust manager in each branch report directly to the branch manager. This scenario is an example of what type of structure? A) Dysfunctional B) Matrix C) Network D) Product
D
Carefully designing jobs with efficient work methods is necessary to __________ management. A) Behavioral B) Contingency C) Laissez-faire D) Scientific
D
Managing with an organization-wide commitment to continuous improvement, product quality, and customer needs is called______ A) Operations management B) Management by objectives C) A learning organization D) Total quality Management
D
Operating in successful ways that are difficult to imitate results in is called ________. A) a strategy B) a strategic intent C) vertical integration of a company D) a sustainable competitive advantage
D
Plans that usually cover 3 years or more are called _____ plans A) Medium B) Operational C) Short range D) Long range
D
The behavioral decision model views managers as attempting to provide _____ decisions A) Programmed B) Classical C) Optimizing D) Satisficing
D
The beleif that ethical behavior treats all people impartially and fairly is called the ______view A) Moral rights B) Individual C) Fair D) Justice
D
The intellectual capital equation is : Intellectual Capital = _______ A) Personality x Effort B) Competency x Money C) Personality x Commitment D) Competency x Commitment
D
The overall quality of human experiences in the workplace is known as _______ A) Quality of work experience B) Work environment C) Work culture D) Quality of work life
D
The process of grouping together people and jobs into work units is called ________ A) breakeven analysis B) relationship management C) socialization D) departmentalization
D
The process of measuring performance and taking action to ensure desired results is a part of the management function of: A) Planning B) Organizing C) Leading D) Controlling
D
The retrenchment strategy that involves selling off parts of an organization to refocus attention on core business areas is called ______ A) Liquidation B) Downsizing C) Diversification D) Divestiture
D
The writings of Fayol are the basis for our modern understanding of _______ A) Three 3 managerial skills B) The four P's of Marketing C) The key managerial roles D) The 4 functions of MNGMNT
D
Theory X & Theory Y were developed by ______ A) Max Weber B) Chris Argyris C) Frederick Taylor D) Douglas McGregor
D
Which of the following strategies integrates global operations without having a strong national identity? A) Multidomestic B) Globalization C) Diversification D) Transnational
D
Which of the following strategies uses information technology and the internet to link organizations vertically in supply chains? A) B2C business strategies B) P2P C) B2G D) B2B
D
Which of the following terms precisely describes actions to take in specific situations? A) Policy B) Project Plan C) Long-term plan D) Procedure
D
While making decisions, Jason selects the alternative that provides the absolute best solution to a problem. In this scenario, Jason takes a(n) _______ decision A) Carefully implemented B) Intuitive C) Satisficing D) Optimizing
D
Who is the author of the Principles of Scientific Management? A) Kotler B) Maslow C) McGregor D) Taylor
D
What is the Pre-conventional stage?
Focused on an individual's self-interest, what is best for that person may not be ethical or concerned with socially responsible actions. - Stage 1: Avoid harm or punishment - Stage 2: Make deals for personal gain
What is the Conventional stage?
Main focus is on social-centered behavior - Stage 3: Act consistently with peers, others - Stage 4: Follow rules, meet obligations
What is the Postconventional stage?
Principle centered behavior results in the individual living up to societal expectations and personal principles (Willing to break with norms, even laws, to act consistently with personal principles)
Essay Question: What are the 4 functions of Management? Define each
What are the four functions of management? Describe each. In the management process, planning sets the direction of the organization of an organization, organizing assembles the human and material resources, leading provides enthusiasm and direction, and controlling ensures results. Planning involves setting objectives and determining what should be done to accomplish them. I would argue this is the most important of the four functions of the management process. If a manager has not set any standards an organization cannot do the other three functions. The second function, organizing, involves allocating resources (Human, physical, etc.), assigning tasks, and coordinating work activities. When managers organize, they bring people and resources together to put plans into action. Leading involves inspiring enthusiasm and motivating others to accomplish the desired objectives/goals. When managers lead, they build commitments to plans and influence others to do their best work in implementing them. Controlling involves measuring performance and taking action to ensure desired results. The proper sequence of events within controlling are measure performance, compare to standards, and determine what corrective action needs to be taken. When managers control, they stay in contact with people as they work, gather and interpret information on performance results, and use this information to make adjustments.
