MGT 3120 Review

A forecast is a projection of the future. glimpse of what just happened. strategic execution and implementation. plan for implementing strategic processes.

projection of the future.

As the yardmaster for Onion Pacific Railroad, Tamar regularly performed the management process. When Tamar assigned engineers to train routes, he was ________, and when he calculated how many trains arrived on time he was ________. delegating; leading organizing; controlling controlling; planning planning; delegating

organizing; controlling

According to Porter, the cost-focus and focused-differentiation strategies have what in common? Both focus on cutting costs. Both focus on wide markets. Both focus on narrow markets. Both focus on corporate-level strategy.

Both focus on narrow markets.

Zene is a chef and owner of a popular restaurant. Zene frequently visits competing restaurants to observe how they are doing things. He told one of his managers, "I eat dinner at a lot of restaurants because I want to know what is going on. I am always concerned that one of our competitors will surprise us with a new service or menu item, like ours but better." In which activity is Zene engaging? environmental planning TQM assessing current reality management by observation

A

________ is the process by which a company compares its performance with that of high-performing organizations. Trend analysis Contingency planning Benchmarking Forecasting

Benchmarking

________ is the idea that proposes that the ability of decision makers to be rational is limited by numerous constraints, such as complexity, time, cognitive capacity, values, skills, habits, and unconscious reflexes. Bounded rationality Rational decision making Nonrational decision making Analytics

Bounded rationality

According to Taylor's principles, which of these might help to improve workers' productivity? Reduce the use of scientific principles in planning work methods. Place workers in any vacant position which focuses on their abilities. Meet with each employee and coach him or her. Carefully select workers according to their abilities and give workers training.

Carefully select workers according to their abilities and give workers training.

________ is the process of examining data sets in order to draw conclusions about the information they contain. Cyber-age research Data analytics Electronic brainstorming Data mining

Data analytics

Akio is evaluating the alternatives that might solve his company's problem. One alternative would be an excellent outcome, but Akio is considering if he has enough time and resources to achieve it. Akio is asking himself: Is it feasible? Is it efficient? Is it ethical? Is it profitable?

Is it feasible?

Which of these represents the company's mission statement? LinkedIn: To connect the world's professionals to make the more productive and successful. Ferrari: To make the world dream. Airbnb: To tap into the universal human yearning to belong. Amazon: To be Earth's most customer-centric company.

LinkedIn: To connect the world's professionals to make the more productive and successful.

If publishing at 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. Frank Gilbreth. Hugo Munsterberg. Max Weber.

Mary Parker Follett.

Airbus Inc., a company that builds airplanes, typically orders parts for its airplanes from other companies. ________ is the practice Airbus Inc. is using. Outsourcing Countertrading Bartering Trading

Outsourcing

Breyona keeps a close eye on her company's internal and external environments to identify better ways of doing business and to discover possible opportunities for new products. In which activity is Breyona engaged? VRIO framework strategic control management by observation SWOT analysis

SWOT analysis

________ is the process wherein alternative possible plans are created and then the one that best fits the situation is applied. Organizational assessment Goal-setting Scenario analysis Trend analysis

Scenario analysis

Riley recently became a top manager at a technology firm that is attempting to rehabilitate its image and return to profitability after a very public scandal. Which of the following actions should Riley take to promote high ethical standards? Rely on AI to choose the most ethical job applicants for openings. Set policies that demonstrate organizational support for ethical behaviors. Fire whistle-blowers if it takes more than two weeks to investigate their accusations. Discipline employees for unethical behaviors, but do not disclose organizational misconduct to the public.

Set policies that demonstrate organizational support for ethical behaviors.

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 2: Assess the current reality. Step 3: Formulate the grand strategy. Step 1: Establish the mission, vision, and values statements. Step 4: Implement the strategy.

Step 1: Establish the mission, vision, and values statements.

According to Rosabeth Moss Kantor of the Harvard Business School, which three events of the 1980s paved the way for the global economy? The Berlin Wall came down, countries worldwide opened their economies to foreign investors, and there was a worldwide trend of governments increasingly regulating their economies. The Berlin Wall came down, Asian countries opened their economies to foreign investors, and there was a worldwide trend of governments deregulating their economies. The Berlin Wall was built, Asian countries formed their own stock market, and NAFTA was implemented. The governments of China and India implemented certain aspects of capitalism, Nixon opened China to international trade, and the value of the U.S. dollar skyrocketed.

The Berlin Wall came down, Asian countries opened their economies to foreign investors, and there was a worldwide trend of governments deregulating their economies.

Last week Arturo, CEO of Quality Furniture in Providence, Rhode Island, traveled to Europe to visit customers. While overseas, Arturo checked his e-mail daily and showed his company's website to customers, explaining how the website will help them place orders and receive merchandise more quickly. After visiting the last customer Thursday morning, Arturo was able to return to the corporate office in Providence to meet with his board of directors that night. ________ is the "shrinking" of time and space with air travel and the electronic media. The intranet The small-world philosophy E-commerce The global village

The global village

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 Theory Z contingency Theory X

Theory Y

Ethnocentric managers believe that their native country, culture, language, and behavior are equal to all other cultures. are superior to all others. are hurtful to others. need to be changed.

are superior to all others.

A company is licensing its products when it allows another company to pay it a fee to train its employees. pays a competitor a fee to stop the competitor from selling its products in the company's territory. develops a strategic plan for another organization. allows a foreign company to pay it a fee to make or distribute the first company's product or service.

allows a foreign company to pay it a fee to make or distribute the first company's product or service.

Keisha has worked at the station next to yours in the textile factory for eight years. You have become close friends, attending each other's family events, birthday parties, and the like. Keisha sends a text message asking you to punch her timecard when you arrive for your shift because she is going to be late. You know the factory has strict policies against punching someone else's timecard, and it could be grounds for termination. You are facing a(n) an ethical dilemma. moral courage decision. ssue of corporate governance. social audit.

an ethical dilemma.

Harvard Business School professor Michael Porter defines strategic positioning as monitoring the execution of strategy and making adjustments, if necessary. looking at where the organization stands to maximize efficiency and effectiveness in achieving the organization's mission. the skills and capabilities that give the organization special competencies and competitive advantages in executing strategies in pursuit of its vision. attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company.

attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company.

Brenden, the department manager, feels that his employees lack the motivation to consistently meet department goals. To better understand human actions and to motivate his employees toward achievement, Brenden needs to adopt the ________ viewpoint. attitude classical behavioral scientific

behavioral

Predictive Health, a fast-growing medical research firm, has accumulated so much patient information that conventional database management systems cannot handle its needs. Therefore, Predictive Health purchased very sophisticated analysis software and supercomputing-level hardware to leverage the power of cyber-age databases. mega IT. big data. super data.

big data.

Santiago is the vice president of operations for a company that manufactures floor cleaning robots. The company's largest factory recently burned down, though thankfully no one was harmed. Now Santiago must decide the best course forward to replace that manufacturing capacity. He is considering rebuilding in the same location, moving to another city or state, or even another continent. In making this decision, Santiago will likely encounter ________ due to the countless locations, timelines, contractors, and demand pressures he must consider. an ethical dilemma groupthink bounded rationality a bounded dilemma

bounded rationality

Caleb, who owns a successful business with two locations and a few international clients, was approached by a large organization about dramatically expanding his company. Caleb later told his wife that he is happy with his success, but he wants to stay small because if he decides to add new products, small companies can get started more easily and maneuver faster. take more time to start new endeavors. typically maneuver slowly with new ideas. tend not to change due to inexperienced management.

can get started more easily and maneuver faster.

Alejandro is the type of manager who completely focuses on efficiency, and he assumes workers are rational. Alejandro is probably applying the ________ viewpoint. quantitative contingency classical behavioral

classical

As some of the earliest management theories, scientific management and administrative management comprise the ________ viewpoint. systems quantitative classical behavioral contemporary

classical

Pinpoint Diagnostic Laboratory has instituted new policies around misappropriation of assets, confidentiality of company information, and patient privacy. Also with the local elections just around the corner, management sent out reminders about political contributions and conflicts of interest. All of these policies can be found in Pinpoint's employee handbook. code of ethics. policies and procedures manual. moral rights approach.

code of ethics.

When organizations endeavor (1) to keep their costs (and hence the prices of their products or services) below those of competitors and (2) to target a wide market, they are utilizing a ________ strategy. focused-differentiation cost-leadership differentiation cost-focus

cost-leadership

A person's ________ reflects the combination of how he or she perceives and responds to information. location on the introvert/extrovert scale time orientation Big Data perception decision-making style

decision-making style

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 value-focused cost-focus focused-differentiation

differentiation

Order the phases of thought in the behavioral viewpoint from earliest to most recent. early behaviorism, human relations movement, behavioral science behavioral science, human relations movement, early behaviorism operations management, human relations movement, contingency phase early behaviorism, industrial relations, human relations movement

early behaviorism, human relations movement, behavioral science

Management is defined as the pursuit of organizational goals correctly and with synergy. efficiently and in a detailed-oriented manner. efficiently and effectively. with passion and effectiveness

efficiently and effectively.

In order, the steps of the strategic-management process are establish the vision and values statements, develop a mission statement, formulate the grand strategy, implement the strategy, and maintain the feedback loop. establish the mission and vision statements, assess the current reality, conduct a trend analysis, and maintain the feedback loop. establish the mission statement, maintain strategic control, formulate the grand strategy, and implement the strategy. establish the mission, vision, and values statements; assess the current reality; formulate the grand strategy; implement the strategy; and maintain strategic control.

establish the mission, vision, and values statements; assess the current reality; formulate the grand strategy; implement the strategy; and maintain strategic control.

A major U.S.-based commercial construction firm has established operations in Belize. Wyatt has been managing the Belizean operations for several months, and is perplexed as to why the workers arrive late, take long lunches, and leave early on Wednesdays. He begins requiring employees to punch in and out on a time clock. Wyatt's decision to utilize a time clock, something common in U.S. workplaces, may signal that he is a(n) ________ manager. geocentric open-minded polycentric ethnocentric

ethnocentric

How often should a company revise its strategic plan? every 100 days every 1 to 52 weeks every 1 to 2 years every 2 to 5 years

every 1 to 2 years

As a child in the 1950s, Matthew did not wear a seatbelt when riding in a car. In fact, he would lay in the window above the backseat of his family's sedan and then roll down into the floor when his dad pushed the brake pedal quickly. In the early 1980s, while he was a manager of a courier service, Matthew learned that seatbelts prevented fatalities in car crashes and kept the driver in place to better control the vehicle. Even though it was not yet legally required in the state, Matthew issued a company policy that all drivers and anyone riding in company vehicles must wear seatbelts. Matthew's management style is best described a behavioral. contingency. evidence-based. bureaucratic

evidence-based.

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 groups are general stakeholders. internal stakeholders. external stakeholders. preferred stockholders.

external stakeholders.

Pineapple Whip, a company that makes an ice cream-like treat using pineapple, sells its branding, production techniques, and proprietary flavors to other companies for a fee and a share of the profits. Pineapple Whip is engaged in importing. franchising offshoring. countertrading.

franchising

An entrepreneur would create a business plan to outline which of the following? plans for financing and reducing competition goals and strategies with success measures mentoring plans important details and a code of ethics

goals and strategies with success measures

After three summers working for a local landscaping business, Scott suggested that his boss add snow removal as an extra service. With this holistic hunch, Scott was acting on ________ that snow removal might be a good addition to the service offerings. hindsight bias minority dissent a knee-jerk reaction intuition

intuition

Nonrational decision-making models, such as ________, describe how managers sometimes make decisions. complexity competing values information overload intuition

intuition

When a cross-town competitor closed suddenly, the number of customers at Janie's Gun Gallery increased dramatically. Janie inspired her team to put in extra effort to meet every customer's needs. Which of the four key management functions was Janie using? leading planning organizing controlling

leading

The manager of a private limousine service is interested in implementing the principles of administrative management, which involves managing the total organization. doing time-motion studies. focusing on efficiency and effectiveness. increasing synergy.

managing the total organization.

Manufacturing plants with low labor costs that give special privileges to their American owners in return for employing Mexican citizens are known as joint ventures. barteristas. maquiladoras mercados.

maquiladoras

Fresh Toppings is based in Sacramento, California and has restaurants in 25 countries. In the United States, Fresh Toppings would be viewed as which of the following? conglomerate multinational organization multinational corporation foreign firm

multinational corporation

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 and the bargaining power of buyers and suppliers. substitute products and the services and competitive rivalries. government regulation, bargaining power of suppliers, and competitive rivalries. new entrants, substitute products or services, bargaining power of suppliers and buyers, and competitive rivalries.

new entrants, substitute products or services, bargaining power of suppliers and buyers, and competitive rivalries.

Jorge is an associate for a large retailer. Sometimes Jorge works alone answering customer questions or moving inventory. Other times, he works with other associates to rearrange displays or complete large orders. Jorge is probably a(n) lower-level manager. director of the board. top-level manager. nonmanagerial employee.

nonmanagerial employee.

With the community interested in eating healthy, Karima thought a restaurant centered on her grandmother's Mediterranean-style recipes would be popular. Her decision was uncertain, but it felt "right" to honor her grandmother by opening this restaurant. Karima is enacting rational decision making. MBO. analytics. nonrational decision making.

nonrational decision making.

Globalization is the trend of the world economy toward becoming a less dependent system. of the world economy adding more independent markets. toward one world language and culture. of the world economy toward becoming a more interdependent system.

of the world economy toward becoming a more interdependent system.

The three levels of ________ are strategic, tactical, and operational. diversity planning marketing the environment

planning

What are the four principal functions of management? scheduling, organizing, leading, and mentoring staffing, planning, motivating, and delegating staffing, planning, profiting, and delegating planning, organizing, leading, and controlling

planning, organizing, leading, and controlling

Nyah knows that planning and strategic management can help focus on the most critical problems, choices, and opportunities by encouraging new ideas. developing a sustainable competitive advantage. setting long-term goals. providing direction and momentum.

providing direction and momentum.

Kade, who manages a hotel, was recently explaining to Deja, a regional manager, his quandary about whether to fire a front desk employee about whom several guests had complained. Kade described, "I first identified the problem as poor customer service, and then I brainstormed several solutions. I evaluated each alternative, and then I implemented my decision not to fire the employee. Instead I provided him with additional training. Finally, I followed up with an evaluation to see if his customer service skills had improved." Kade is applying the employee relations model of evaluations. rational model of decision making. nonrational model of decision making. strategic-planning model of leadership.

rational model of decision making.

Which managers would be at Level 2: Business-level strategy? finance managers retail unit managers human resource managers marketing managers

retail unit managers

Bella Blooms is a successful business that sells a liquid spray fertilizer to farmers. The fertilizer consists of rich, organic, composted material. Recently, Natural Supply, another established fertilizer manufacturer, dramatically increased its marketing to farmers in the region that Bella Blooms views at its target market. When analyzing its industry, Bella Blooms should be concerned about the threat of buyers' negotiating influence. substitute products and services. new entrants. rivalry among competitors.

rivalry among competitors.

Kalini, a package delivery service manager, is interested in implementing ________. To do this, Kalini will study the routes that drivers take through a congested to city in order to identify ways that delivery staff can make the most deliveries in each two-hour period. human relations management contingency management scientific management management science

scientific management

A SWOT analysis is a search for the strengths, weaknesses, opportunities, and threats affecting an organization. search for the strengths, weaknesses, opportunities, and threats influencing an organization's competition. diversity and synergy method used in vertical integration. survey of organizational needs, ways to improve, output methods, and threats influencing a company.

search for the strengths, weaknesses, opportunities, and threats affecting an organization.

In a SWOT analysis, organizational strengths are external opportunities that a company can take advantage of. environmental factors that the organization may exploit for competitive advantage. skills and capabilities that give a company advantages in executing its strategies. MBO skills that should be emphasized.

skills and capabilities that give a company advantages in executing its strategies.

Jackson, the owner of a t-shirt shop, attended an entrepreneurship workshop that discussed the triple bottom line, which measures an organization's ________ performance. financial, diversity, and environmental social, synergy, and overall social, environmental, and financial marketing, profit, and efficiency

social, environmental, and financial

The three key principles of ________ are the creation of a unique and valuable position, trade-offs in competing, and creating a "fit" among activities. company diversity a strong employee morale strategic positioning an environment with few or no competitors

strategic positioning

Executives of a national insurance underwriting firm has informed its district managers of a new goal to improve customer retention. The district managers will set goals to be achieved over the next 6 to 24 months as part of ________ planning. working-level middle-level operational tactical

tactical

An organization's internal stakeholders consist of the board of directors, customers, and local government. customers, the community, and employees. the board of directors, employees, and owners. competitors, the community, and suppliers.

the board of directors, employees, and owners.

Hugo Munsterberg is known as the father of scientific management. the father of industrial psychology. a pioneer of scientific management. the father of the MBO method.

the father of industrial psychology.

With the holiday season approaching, Denelle reviews holiday sales from the last five years to determine how much inventory to purchase and how many employees to schedule during peak sales times. Denelle is conducting a strategic goal. business plan. trend analysis. vision statement.

trend analysis.

A national ice cream chain asked its 30 highest paid employees to take a 15% pay cut. Doing this, in response to the recent sales decline, meant no store closures and no downsizing. This could be characterized as the ________ approach to ethical dilemmas. individual moral-rights utilitarian value system

utilitarian

Orlando, the owner of a Belgian event-planning company called Memory Makers, plans to open a marketing company that focuses on product launches, called Kick Start, in Germany. Kick Start will be totally owned and controlled by Memory Makers, which makes Kick Start a ________ of Memory Makers. joint venture wholly owned subsidiary strategic alliance maquiladora

wholly owned subsidiary

A mission statement expresses ________, and a vision statement expresses ________. what the organization wants to become; what the organization stands for what the organization stands for; how employees will be served by the organization which goods and services the organization will produce; which charitable organizations it will support why the organization exists; what the organization wants to become

why the organization exists; what the organization wants to become