MGMT320 Exam 1
There is interdepartmental conflict at a company that manufactures outdoor sporting goods and athletic gear. The product development team is waiting on feedback from the marketing department. The marketing department needs a budget forecast from the accounting division before it can provide this feedback. If you were the top-level manager of this company, how would you handle this situation?
I would use the process of integration and sit everyone down together to talk it through
If publishing a newspaper company is arranged so that editors, editorial assistants, and reporters coordinate to determine which stories should be published, this community arrangement would align with ideas brought forth by
Mary Parker Follett
Kumail MBO in his company 12 months ago. Now, Kumail about to conduct his first-ever performance appraisals with his employees. Which of the following statements would you offer to Kumail as advice?
Be sure to reward employees who meet their objectives
Keiko wants to develop her proactive learning skills in order to increase her career readiness. What would you advise her to do?
Contribute to a Linkedin conversation about trends in her industry
Which of these managers is engaged in operational planning?
Renata is assigning employees to workstations and applying protocols to resolve customer complaints
Best Bottling is a beverage copacking company that contracts its beverage manufacturing services to small and upstart beverage brands. The leaders of Best Bottling have been updating their official statements to make it clear to customers that Best Bottling values customer service, product quality, and on-time order delivery. Best Bottling is at which step in the strategic management process?
Step 1: Establish the mission, vision, and values statements
Kira, the general manager of a travel agency, believes that her workers are responsible and capable, and that they can be trusted when given responsibility. Kira is an example of a __ manager
Theory Y
Which of the following is a key benefit of studying theoretical perspectives on management?
They serve as a guide to action and a source of new ideas
Executives, often referred to as the "C-Suite," should focus their decision making on which of the following?
What products and services shall we offer?
Based on the Management in Action case and what you know about VRIO, which of the following does La Croix have?
a valuable product
A key contribution of __ was the identification of the major functions of management which are planning, leading, organizing, and controlling
administrative management
Riesa is an attorney who specializes in real estate and land-use law. Together with her wife, she also owns a property management company with over 2000 apartment units in the metro area. Riesa is experienced in goal setting and strategic planning. If you were the commissioner of the city's housing authority, to which role would you most likely nominate Riesa?
board of regents
Which viewpoint emphasizes that a manager's approach should vary according to the individual and the environmental situation?
contingency
This year's sale at Yours Truly Consignment have been strong, and next year's sales are also projected to be good. Even so, Yours Truly managers should conduct __ so they are prepared in the case that sales drop unexpectedly
contingent planning
In the Management in Action case, assume Amtrak's CEO makes changes to the company's operations and then reviews the resulting revenue. What step in the planning/control cycle would this represent?
control the direction by comparing results with the plan
Carley, a successful store manager, leads her employees by encouraging them and showing that she genuinely believes in them. She also encourages group and team efforts. Carley manages Kohlberg's __ level of personal moral development
conventional
After reviewing her department's results, Laurel decided that she needed to cut more costs for the department to meet its profitability goal for the year. Eliminating the unplanned advertising expenses is one way to
correct deviations in the plan being carried out
Snow Assist sells emergency safety and rescue products to ski patrols and rescue workers at prices that are below those of its competitors, which offer a larger line of more expensive products and focus on broader markets. Snow Assist is pursuing a __ strategy
cost focus
At the strategic level of planning, managers must pay attention to the environment outside the organization, be future oriented, and
deal with uncertain and competitive conditions
Kingsolver's Classics, a local book store, is located in a community that has seen its population grow rapidly with a greater proportion of younger adults and a much more vivid LGBT presence. In response to these __ forces, Kingsolver's Classics offers free wireless Internet in its "quiet work zone" and sponsors the local PRIDE parade
demographic
In the Management in Action case, if Congress forces Amtrak to become a nonprofit, the organization will have to go back to which step in planning process?
developing a mission statement
Big Derrick Energy is an oil-drilling company that utilizes a __, wherein Derrick operators who exceed their performance targets will earn a bonus in addition to their regular pay
differential rate system
Planet Pantry sells high-quality products and grocery items that are unique to its highly populated area, and it offers frequent cooking classes showcasing global cuisine. By offering these types of products and services, Planet Pantry is pursuing a __ strategy
differentiation
The top managers of One Work Enterprises are meeting for the week to look at the long-term company goals and overall direction of the organization. The CEO has expressed his concern over the economy and has told his managers to look closely at the environment outside the organization before making decisions and to be future oriented. In this meeting, top managers of One World are
doing strategic planning
Organizational weaknesses in SWOT analysis are
drawbacks that hinder an organization in executing strategies
Charlotte wants to sell her business. Ashton has expressed an interest in purchasing it, but is worried about whether she will qualify for a load with the interest rates going up. Ashton is worried about a/an __ force
economic
Chyaru and her managers are discussing the unemployment, inflation, and interest rate trends that might affect their chain o coffee shops over the next 12 months. The managers are studying the __ forces in their organization's general environment
economic
Which forces are part of the macroenvironment?
economic, technological, sociocultural, demographic, political-legal, international
Harps Food operates over 80 grocery stores across 4 states. Since 2001, Harps has been an ESOP, meaning that
employees own more than half of the company's stock
In her strategic planning, the CEO of a home goods manufacturing company is aiming to improve customer service by concentrating on distributors, local communities, and special-interest groups. These three group sare
external stakeholders
When the sales of a certain flavor of ice cream slowed, a national grocery retailer decided to drop the price of that product, which resulted in a large increase in sales of the ice cream. This sales increase is a type of
feedback
Duracell, a company well known for manufacturing alkaline batteries, derives its strategic position from which source?
few needs, many customers
To apply the classical viewpoint, you must assume that people are rational and
find ways to manage work more efficiently
In the Management in Action case, once Amtrak decided to change its dining cart service, what category of individuals needed to plan its operational execution?
first line managers and team leaders
Matthew has written his mission, vision, and value statements. He has completed his organizational assessment. What is his next step?
formulate functional strategies
A conclusion of the Hawthorne studies was that
giving more attention to employees increases worker productivity
In 2003, Myspace launched a social networking website offering an interactive, user-submitted network of friends, personal profiles, blogs, groups, photos, music, and videos. Myspace was the largest social networking site in the world, from 2005 to 2009. Recently, it was purchased by Specific Media, an online platform where music fans can interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. Which of the following describes Specific Media's strategy?
growth
A sign that ethics has become a primary concern for boards of directors is that
in 2018 more CEOs were fired for ethical violations than for financial performance
Fine Line is a popular tattoo shop that provides custom artwork and permanent tattoos. Recently, Fine Line pursued a(n) __ strategy when it developed a smartphone app that uses AR technology to let customers preview what their tattoo will look like before getting it
innovation
In the management in action case, the systems viewpoint would categorize the plant-based fibers and recycled polyester Stella McCartney uses to develop "fur-free" fur as
inputs
David, the Vice President of operations for a publicly traded beverage company, learns that his company is in talks to be acquired by a very popular candy company. Although the deal is not public yet, David expects the post merger value to increase dramatically, so he trades for a large number of shares of the candy company. In which illegal activity has David engaged?
insider trading
Research on MBO shows that participative goal setting is
just as effective as when managers set the goals
Managers for Isabella's Icy Treats, a business that operates two dozen ice cream trucks in a large city, have implemented an excellent strategy. Now the managers are faced with the strategic management process of
monitoring the execution of strategy and making adjustments as needed
Cyril, who manages an ATV dealership, is determined to implement management by objectives to help
motivate his employees
Michael Porter proposed that business level strategies originate with the primary competitive forces in the firm's environment; these forces are the threats of
new entrants, substitute products or services, bargaining power of suppliers and buyers, and competitive rivalries
__ can be another term used for a goal
objective
The managers of Kai's Catering want to increase the number of events booked by 20%. To accomplish this a(n) __ was established to include clear weekly targets for number of deposits received
operating plan
If you focus on managing the production and delivery of your organization's products or services more effectively, you are managing its
operations
Which core business process outlines what needs to be done and who is going to do it?
operations
Which aspect of the VRIO framework examines whether a firm has the control systems, policies, and financing needed to compete?
organization
A local farmer grows and sells corn and pumpkins to the local grocers. Look at the farmer's business as a system. In which category do the corn and pumpkins, profits, and losses fall?
outputs
Because this core process calls managers to link their employees' talent to strategic goals, Bossidy and Charan believe that the __ process is the most important
people
A factory supervisor, Miguel wants all 150 workers to complete a required training before the end of the fiscal year which is one month away. He sets a goal of training 15 workers each day. What is Miguel doing?
planning
Knowing the future is uncertain, Sofia should engage in __ so her family's business will have a set of goals and tasks that should lead to desired outcomes
planning
Which career readiness competency represents a desire to learn and improve and is desired by employers because it drives creativity and innovation?
proactive learning orientation
The Sarbanes Oxley Act of 2002 established requirements for __ and penalties of as much as __ for noncompliance
proper financial record keeping for public companies; 25 years in prison
After returning home from a trade show, Mr. Stephenson, the president of a manufacturing company, called a meeting of his production department. He indicated that the company would soon be implementing a new policy of __, which focuses on worker performance and urges employees to strive for zero defects
quality assurance
As the holiday season approaches, Stella, who is a regional director for a transportation company, has calculated several statistics to forecast demand. Then Stella input those statistics into a computer model to determine how to best deploy the trucks and drivers in her fleet. Stella is applying
quantitative management
Trinity turns off lights when she leaves a room, brings her water bottle from home and refills it throughout the day, and walks to work. Trinity is
reducing her carbon footprint
Food Wells Inc. is an organization that operates several companies that market bulk food products, restaurant equipment, and disposable dishes. Recently, Food Well acquired a restaurant consulting division. Food Well is pursuing a(n) __ strategy
related diversification
Besides generating ideas with impact, you can also generalize them—that is, reduce the barriers to learning among employees and within your organization. You can
reward risk taking
__ is the process wherein alternative possible plans are created and then the one that best fits the situation is applied
scenario analysis
Assuming that workers are rational, __ seeks to improve individual efficiency while __ focuses on entire organizations
scientific management; administrative management
Loukas is the CEO of a company that makes laundry detergent. Even in this very competitive market, Loukas acts with __ to take actions that benefit the interests of society as well as the organization
social responsibility
Everytown for Gun Safety is a __ that tries to exert political influence by contributing funds to elect lawmakers who support increased background checks and other gun safety measures.
special interest group
A local boat manufacturing company has been family owned for more than 70 years, and it is the largest employer in the country. The boat company demonstrates corporate social responsibility by
starting a free trade school that trains people to be welders, electricians, plumbers, or boat builders
The Doritos Locos Taco is a fast food item sold by Taco Bell that uses a crunchy shell made to taste the same as nacho cheese flavored Doritos. Doritos is a tortilla chip brand owned by Frito Lay. Taco Bell and Frito Lay worked as __ to develop the now iconic product that sold over a billion units in the first year
strategic allies
Aanu owns several computer repair shops across the northeastern Wisconsin, and she has set a goal for her company of increasing market share in all locations over the next three years. Aanu has set a
strategic goal
Which sequence of goals is consistent with "cascading" goals that begin at the top of the organization?
strategic goals > divisional goals > department goals > individual goals
The move by Philip Morris International (PMI), the industry leading tobacco company, to invest billions in creating a smoke free future is an example of
strategy innovation
Nena's Naan, an Indian style restaurant, has wait staff, cooking staff, and managers who must work together to ensure the customers have a smooth and pleasant dining experience. Nana's Naan is an example of a(n)
system
Picnic, a meal kit company, has set a strategic goal of decreasing corporate costs by 12% over the next 4 years. Joseph manages one of Picnic's distribution centers. Installing a just in time inventory system and partnering with a new produce wholesaler are __ that Joseph can implement over the next 12 months to contribute to the strategic goal
tactical goals
To achieve a meaningful life, you should understand the ethical and social responsibilities of being a manager and
the environment in which a manager operates
The owners of Blazing Pitchforks, a family owned farm supply outlet in a rural community, are concerned over the news that a large retailer specializing in farm and garden products is building a new store on the other side of town. According to a SWOT analysis, this new retailer is an organizational __ to Blazing Pitchforks
threat
Myra, a new branch manager, shares her personal story of how she came into the profession, her family life, and the challenges she has faced being biracial. She shares her excitement to learn from everyone and is excited to introduce the new app that will be released to customers in the near future. Myra is demonstrating she is part of a learning organization by
transferring her knowledge
As a newer employee, you can better __ by proactively seeking mentoring, joining the job rotation program, or attending cross functional meetings
understand the business
During recent economic downturn, executive of a national home goods retailer decided to permanently close 12 stores (out of 267) to ensure the long term viability of the business. Closing these locations put hundreds of employees out of work and negatively affected 12 local communities. However, this decision will ultimately save the company millions of dollars and benefit many stockholders and other stakeholders. The benefits of closing the stores outweigh the benefits of keeping them open. Keeping the stores open would be advantageous for many fewer people than closing the stores. This logic is an example of the __ approach to deciding ethical dilemmas
utilitarian
Believing that employees should be promoted solely on the basis of merit, that no bribes will be paid to foreign officials to obtain business licenses, and that companies should offer extended maternity leave upon the employee's request are examples of
values
A mission statement tells you
what the company wants to become or achieve over time
A forklift operator in an auto parts warehouse, Haider recognized that his employer did not follow OSHA standards such as pre-shift safety inspections, enforcing speed limits, or ensuring all forklift operators were certified. After a coworker was seriously injured on the job, Haider acted as a(n) __ and filed a report with OSHA and gave an interview to the local news
whistle blower
