Principles of Management Unit 4 Quiz

Which of the following refers to the scenario when an organization concentrates resources in only a one or very few locations, or only a few individuals are authorized to make decisions about the use of resources? Command-and-control Formalization Centralization Span of control Specialization

Centralization

The vision statement describes the strategy a firm will use to follow its vision along with a description of why do they exists.

False

Which term best describe a group of firms all making similar products or similar services? Industry Substitutes Supplier VRIO Macro environment

Industry

Which of the following represents the level of strategy concerned with the large-scale actions involved in entering a brand-new geographic market? Corporate strategy BCG Matrix SMART framework International strategy Business-level strategy

International strategy

Which of the following model of change proposed an eight-step sequence and relies on a centralized, top-down process for creating planned change? Lewin's Change Model Kotter's Change Model Appreciative Inquiry (AI) model Complex Adaptive Systems Bureaucratic model

Kotter's Change Model

"O" in VRIO refers to which of these? Object Official Open Organization Occupation

Organization

In the ______ phase of the organizational life cycle, the organization is usually very small and agile, focusing on new products and markets. The founders typically focus on a variety of responsibilities, and they often share frequent and informal communication with all employees in the new company. entrepreneurship survival and early success sustained success maturity renewal

entrepreneurship

The top managers in organizations prefer to deal with the steps of strategic management one at a time to be able to provide the necessary attention to details.

false

The _____ is emergent, meaning that it is formed through the common conversations and relationships that often naturally occur as people interact with one another in their day-to-day relationships. level of organization organizational design organizational change organizational development informal organization

informal organization

Which change model argues that an organization is constantly developing and adapting to its environment, much like a living organism? Lewin's Change Model Kotter's Change Model Appreciative Inquiry (AI) model Complex Adaptive Systems Bureaucratic model

Complex Adaptive Systems

Which of the following represents is one of the most difficult kinds of changes to create within an organizational system? Differentiation change Incremental change Culture change Technological change Structural change

Culture change

When BA Products managers assume that BA employees will change if they know they will otherwise face negative consequences, it refers to which of the following? Top-down change Deficit-based change Emergent approach Abundance-based change Appreciative mindset

Deficit-based change

______ includes facts about income, education levels, age groups, and the ethnic and racial composition of a population. Political Economic Environmental Legal Demographics

Demographics

The final phase of an Appreciative Inquiry (AI) practice, ______, occurs as employees put into practice the plans they have developed. Define Design Destiny Discover Dream

Destiny

Which of the following step managers should focus on once the strategic analysis is completed in the strategic management process? Strategic analysis Vision and Mission Measure and evaluate performance Create and choose strategies Develop objectives

Develop objectives

______ factors are things in the global environment that may impact a firm's operations or success, examples are a rise in interest rates, or a natural disaster. External Competitive Internal Economic Socio-cultural

External

Internal factors are things in the global environment that may impact a firm's operations or success, examples are a rise in interest rates, or a natural disaster.

False

The variables measured in BCG Matrix are: Dogs; question mark Market share; market growth Threat of substitutes; Barriers to entry Supplier power; buyer power Stars; cash cows

Market share; market growth

Jason has expertise in change management processes. Jason can be classified as a(n) ______. OD consultant top manager strategist entrepreneur HR specialist

OD consultant

Which of the following SWOT factors are external to the firm? Strengths and weaknesses Weaknesses and opportunities Opportunities and threats Threats and strengths Threats and weaknesses

Opportunities and threats

Which term describes the process that firms use to study and understand the many different layers and aspects of their competitive environment? Strategic analysis strategic positioning Value chain VRIO SWOT

Strategic analysis

_____ is (are) the big-picture goals for the company. Vision Mission Opportunities Strategic objectives External competencies

Strategic objectives

Which of these is the process of planning and implementing actions that will lead to success in competition? Capabilities Resources Switching costs Value chain Strategy

Strategy

A firm's weaknesses are simply gaps in capabilities, and those gaps do not always have to be filled within the firm.

True

Which of these is an expression of what a business's founders want that business to accomplish? Vision statement SWOT Strategic analysis Mission statement SMART framework

Vision statement

All of these questions are answered by the Porter's 5 Force tool EXCEPT: What sociocultural trends provide opportunities for my business? Are other firms competing in the industry based on price or on differentiation? Are new firms coming into this market? Do buyers have attractive substitute options for my offerings? Are suppliers available for the supplies I need?

What sociocultural trends provide opportunities for my business?

A firm's ______ environment contains elements that can impact the firm but are generally beyond its direct control. These elements are characteristics of the world at large and are factors that all businesses must contend with, regardless of the industry they are in or type of business they are. micro internal competitive corporate cultural macro

macro

While ________ are things a firm has to work with, such as equipment, facilities, raw materials, employees, and cash, _____ are things a firm can do, such as deliver good customer service or develop innovative products to create value. capabilities; resources substitutes; resources resources; capabilities resources; substitutes capabilities; substitutes

resources; capabilities

According to the BCG Matrix, business divisions that are in a high market share, high growth quadrant are called ______. Dogs Stars Cash Cows Question Marks None of these

stars

Weber proposed all of these elements of bureaucracy that serve as a foundation for determining an appropriate structure EXCEPT: structural change. formalization. centralization. span of control. specialization.

structural change