Management Quiz 1-4

The degree to which outcomes are allocated without regard to ethnicity, race, gender, age, or other individual differences criteria is the concept of __________.

Distributive Justice

Which of the following statements most accurately describes the concept of environmental uncertainty?

Environmental uncertainty consists of two components — complexity of the environment and rate of change in the environment.

__________ reflect(s) the code of moral principles that sets standards as to what is "good" versus "bad" or "right" versus "wrong" in people's conduct, and thereby guides their moral choices and behavior.

Ethics

__________ is the tendency to view one's culture as superior to others.

Ethnocentrism

Stacey manages a department of 20 sales people. When any of her sales people come to her with a concern over dealing with a particularly difficult customer Stacey always asks for the "hard facts" about what really works in solving this situation as opposed to solutions that merely sound good. Stacey is engaging in the use of:

Evidence-based management

A nonprofit has neither costs nor revenues, which is why it is called a nonprofit.

False

Customer discovery can be thought of as a broader concept than customer development.

False

Customer segments are the same as customer relationships.

False

Discrimination refers to an invisible barrier that limits the career advancement of women and minorities.

False

Line managers use special technical expertise to advise and support the efforts of line workers.

False

Pivoting is the process of altering one's business plan as a result of the customer discovery process.

False

This question comes from the chapter on entrepreneurship. It is included because it is an important concept beyond what was discussed in class. Debt financing involves exchanging ownership shares for outside investment monies, whereas equity financing involves borrowing money to be repaid over time with interest.

False

Which of the following groups would be considered stakeholders?

e. A, B, and C. a. Competitors. b. Customers. c. Educational institutions.

ABC, Inc. is considering launching a joint venture in order to expand its operations internationally. According to your text, ABC, Inc. should consider which of the following as its evaluative criteria for a joint venture partner:

e. All of the above A. Employs a strong local workforce b. Values its customers c. Has potential for future expansion d. Has good profit potential

The obstructionist strategy of social responsibility meets the organization's __________

economic responsibility

During a job interview, Jim was told by one of the team leaders that the company uses lessons of experience to promote continuous change and improvement. Jim interviewed for a job in which kind of organization?

A Theory X organization

One reason for pursuing international opportunities is concerned with the notion of economic development, which represents:

A global firm conducting business in foreign countries with direct intent to advance local economic development.

Hawthorne Studies have been criticized for which of the following reasons?

All of the above (Poor research design. b. Weak empirical support for the conclusions drawn. c. The tendency of researchers to over generalize their findings.)

The text refers to types of learning styles which helps define how you like to learn. These learning styles are:

All the Above ( Accommodator, Diverger,Converger,Assimilator)

All of the following statements are accurate except:

Amoral and immoral leaders are less influential than moral leaders.

Which of the following is NOT a potential risk faced by people who act as whistleblowers?

Being generously rewarded for revealing misdeeds

The belief that people will rationally consider available opportunities and do whatever is necessary to achieve the greatest personal economic gain is the underlying assumption of which approach to management thought?

Classical approach.

All of the following statements correctly describe the innovation process EXCEPT:

Creativity is not essential for innovation

This question comes from the chapter on entrepreneurship. It is included because it is an important concept beyond what was discussed in class. For tax purposes, the limited liability corporation functions like a corporation, protecting the owners assets against claims made against the company.

False

Top managers are more concerned with the daily operations of the internal business processes than with activities in the external environment that impact the organization.

False

Virtual working environments have increased the need for face-to-face meetings, international travel and sharing of information.

False

Workforce diversity describes demographic differences among members of the workforce focusing primarily on income, social status, education, and experience.

False

Which one of the following forms of international business represents an investment in a local operation that is completely owned and controlled by a foreign firm?

Foreign subsidiaries.

Which of the following are competitive implications for the European Union?

Free flow of workers, goods and services, and investments across national boundaries.

Maslow's theory of human needs is consistent with which area of management thought?

Human relations movement

Which of the following rationalizations for unethical behavior displays the mistaken belief that because someone can be found to benefit from the behavior, the behavior is also in the organization's best interests?

It's in everyone's best interests

BMW's Chinese partner Brilliance Automotive Holdings and their new plant boosting production up to 100,000 cars annually is an example of which form of international business:

Joint venture

In contemporary organizations, the __________ concerns the protection of employees with respect to their rights to privacy, due process, free speech, free consent, health and safety, and freedom of conscience.

Moral-rights View

United Parcel Service (UPS) tracks the performance speed of their package sorters, utilizes GPS to plot the shortest delivery routes and trains their drivers to knock on the customers' doors rather than spend extra seconds looking for the doorbell. This type of analysis is an example of:

Motion study

Sociocultural conditions in the general environment include __________.

Norms, customs, and social values regarding human rights; trends in education and related social institutions; and demographic patterns in society.

Faced with slumping sales and increased costs, ABC Inc. has decided to outsource the work of one of its divisions to a foreign location. This is an example of:

Offshoring

A ____________tries to forecast political disruptions that can threaten the value of a foreign investment.

Political risk analysis

The findings of the GLOBE project and Hofstede's research directly share which of the following cultural dimensions?

Power Distance and Uncertainty Avoidance

The degree to which policies and rules are fairly administered to all individuals in an organization is known as __________.

Procedural Justice

Which of the following descriptions represents Hofstede's individualism-collectivism dimension?

Reliance on individual accomplishments and self-interests versus the collective accomplishments and interests of the group.

The three branches of the classical approach to management are __________.

Scientific management, administrative principles, and bureaucratic organization.

Organizations interested in finding ways to use their business models to address important social problems are engaged in ________________ innovation.

Social Business

According to Douglas McGregor, managers should pay more attention to __________.

Social and self-actualization needs

The basic principles behind TQM that Deming taught the Japanese include:

Tally defects, analyze and trace them to the source, make corrections, measure what follows.

The foundations of the behavioral approach to management include all of the following components EXCEPT:

The human systems contingency model.

A Spelman student wants to design a minimum viable product. Where can she go to do so?

The innovation Lab

According to contingency theories, __________.

There is no one best management approach.

A company's value proposition responds to the question "why would customers buy a given product or service?"

True

An employee's talents are what they know, what they learn, and what they do with it.

True

Globalization refers to the worldwide interdependence of resource flows, product markets, and business competition that characterizes the new economy.

True

Integrity and ethical leadership must be practiced at all organizational levels.

True

Intellectual capital is defined as the collective brainpower or shared knowledge of a workforce.

True

Recently, CEO compensation has received much public attention, particularly on the wide discrepancy between average CEO pay and average worker's pay.

True

The "glass-ceiling effect" limits the career advancement and promotion of women and minorities.

True

The triple bottom line assesses the economic, social, and environmental performance of organizations.

True

This question comes from the chapter on entrepreneurship. It is included because it is an important concept beyond what was discussed in class. A successful IPO enhances the value of the original investments of the venture capitalist and the entrepreneur.

True

This question comes from the chapter on entrepreneurship. It is included because it is an important concept beyond what was discussed in class. An angel investor is a wealthy individual willing to make an investment in return for equity in a new venture.

True

Commercializing Innovation is defined as:

Turning new ideas into actual products, services or processes that can increase profits through greater sales or reduced costs

There is a renewed emphasis on how to really use available data to make better management decisions. This is an area known as __________ which is the use of data to solve problems and make informed decisions using systematic analysis.

analytics

Management science focuses specifically on_________________________

applying mathematical techniques to solve management problems

The text identifies several criteria for evaluating socially responsible corporate behavior. A firm is meeting its __________ when it earns a profit through provision of goods and services desired by customers.

economic responsibility

A business thesis is based on three questions: "Who, why, and where?"

false

Arthur Blank is one of the main creators of the business model generation approach.

false

The business model canvas has eight components.

false

This question comes from the chapter on entrepreneurship. It is included because it is an important concept beyond what was discussed in class. In crowdfunding, entrepreneurs go online to raise funds from a particular individual.

false

Global sourcing, importing/exporting, licensing and franchising are typical ways to begin a(n) ___________.

international business

In-Group Collectivism _____________.

is the degree to which people take pride in their families, small groups and being members of an organization

The virtues of honesty, fairness, integrity, and self-respect provide __________ that help people make correct decisions even when circumstances are ambiguous and situational pressures are difficult.

moral anchors

An ethical dilemma __________.

occurs when someone must choose between a course of action offering personal or organizational benefit or both, but for which there is no clear right or wrong decision

In terms of today's management practices with relation to the historical roots of management throughout time, the history of management _____________.

provides many useful lessons, some of which we are still trying to perfect

Arguments for corporations engaging in socially responsible behavior include all of the following except

pursuing socially responsible goals may dilute the purpose of the business.

A franchise 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.

true

Lean startup methodology is another term for business model generation.

true

This question comes from the chapter on entrepreneurship. It is included because it is an important concept beyond what was discussed in class. Equity financing for entrepreneurs is usually obtained from __________.

venture capitalists.