Question 1

A strong corporate culture directs employees' efforts and helps everyone work toward the same goals.

Accepted Answer

A) True 
 B)False

Question 2

What does e-partnering involve?

Accepted Answer

A)   Buying shares of small companies that provide technology unavailable to the purchasing company
B)   Buying shares of small companies that are similar to the purchasing firm
C)   Linking up to the inventory records of another company
D)   Sharing a Web server with another company
E)   Advertising another company on the purchasing company's Web siteF) A) and D)
G) A) and C)

Question 3

Which of the following BEST describes a business strategy?

Accepted Answer

A)   A strategy for determining the firm's overall attitude toward growth and the way it will manage its businesses or product lines
B)   A strategy at the business unit or product line level that focuses on improving a firm's competitive position
C)   A strategy by which managers in specific areas decide how best to achieve corporate goals through productivity
D)   A strategy that assists first line managers in making day-to-day decisions about motivating employees
E)   A strategy that integrates an organization's marketing goals into a cohesive whole by focusing on the ideal product mix to achieve maximum profit potentialF) A) and B)
G) A) and D)

Question 4

When a company attempts to change its culture, what must take place to give the new culture solid shape within the firm?

Accepted Answer

A)   The firm must set up new systems for appraising and compensating employees who enforce the new values.
B)   A highly responsive strategy must be determined.
C)   There must be a period devoted to conflict and resistance.
D)   There must be renewed focus on the activities of the competitors and customers.
E)   There must be a thorough SWOT analysis to determine if the change is necessary.F) A) and C)
G) B) and E)

Question 5

Which element of an organization is defined by shared experiences, stories, beliefs, and norms?

Accepted Answer

A)   Its human resources
B)   Its product philosophy
C)   Its corporate culture
D)   Its mission statement
E)   Its organizational structureF) B) and D)
G) None of the above

Question 6

Which of the following BEST describes a mission?

Accepted Answer

A)   An objective that a business hopes and plans to achieve
B)   A broad set of organizational plans for implementing decisions made for achieving organizational goals
C)   The shared experiences, stories, beliefs, and norms that characterize an organization
D)   An organization's statement of how it will achieve its purpose in the environment in which it conducts business
E)   An organization's competitive standing in the marketplaceF) None of the above
G) A) and B)

Question 7

Managers have many roles within the organization. Discuss the interpersonal roles of managers and how those roles affect the organization.

Accepted Answer

Three interpersonal roles are inherent i...

Question 8

Corporate culture is largely a result of state and local laws and regulations.

Accepted Answer

A) True 
 B)False

Question 9

Differentiate among strategic, tactical, and operational plans.

Accepted Answer

Strategic plans reflect decisions about ...

Question 10

If an organization sets out to increase its share of the snack food market by 10 percent during the next eight years, what kind of goal is the organization setting?

Accepted Answer

A)   A short-term goal
B)   An intermediate goal
C)   A tactical goal
D)   A long-term goal
E)   An organizational goalF) A) and E)
G) D) and E)

Question 11

What identifies performance targets used by organizations and their managers to measure success or failure at every level?

Accepted Answer

A)   Tactics
B)   Goals
C)   Strategies
D)   Mission statements
E)   PromotionsF) A) and E)
G) C) and D)

Question 12

Who is responsible for designing and implementing systems to gather, organize, and distribute facts and data essential for the running of the company?

Accepted Answer

A)   Marketing managers
B)   Information managers
C)   Production managers
D)   Human resource managers
E)   Research and development managersF) C) and E)
G) A) and B)

Question 13

Strategy has a wider scope than planning.

Accepted Answer

A) True 
 B)False

Question 14

What of the following indicates an organization's reason for being?

Accepted Answer

A)   Strategy
B)   Tactic
C)   Mission
D)   Diversity
E)   ProfitabilityF) C) and E)
G) B) and D)

Question 15

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

Accepted Answer

A)   Organizing
B)   Planning
C)   Controlling
D)   Processing
E)   MonitoringF) None of the above
G) C) and E)

Question 16

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Accepted Answer

A) True 
 B)False

Question 17

What is a mission statement?

Accepted Answer

A mission statement is a statement of ho...

Question 18

The last step in the decision-making process is the selection of the best alternative.

Accepted Answer

A) True 
 B)False

Question 19

What type of skill is needed to understand foreign markets, cultural differences, and motives of foreign rivals?

Accepted Answer

A)   Technology
B)   Strategic management
C)   Decision making
D)   Conceptual
E)   Global managementF) A) and C)
G) B) and C)

Question 20

Corporate culture influences management's philosophy, style, and behavior.

Accepted Answer

A) True 
 B)False

Exam 5: Managing the Business

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

Correct AnswerverifiedShow Answer

The last step in the decision-making process is the selection of the best alternative.

Correct AnswerverifiedShow Answer

Differentiate among strategic, tactical, and operational plans.

Correct AnswerverifiedStrategic plans reflect decisions about ...View AnswerShow Answer

Corporate culture is largely a result of state and local laws and regulations.

Correct AnswerverifiedShow Answer

What does e-partnering involve?

Correct AnswerverifiedShow Answer

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Correct AnswerverifiedShow Answer

Which of the following BEST describes a business strategy?

Correct AnswerverifiedShow Answer

Strategy has a wider scope than planning.

Correct AnswerverifiedShow Answer

Who is responsible for designing and implementing systems to gather, organize, and distribute facts and data essential for the running of the company?

Correct AnswerverifiedShow Answer

When a company attempts to change its culture, what must take place to give the new culture solid shape within the firm?

Correct AnswerverifiedShow Answer

Which of the following BEST describes a mission?

Correct AnswerverifiedShow Answer

What is a mission statement?

Correct AnswerverifiedA mission statement is a statement of ho...View AnswerShow Answer

Which element of an organization is defined by shared experiences, stories, beliefs, and norms?

Correct AnswerverifiedShow Answer

What identifies performance targets used by organizations and their managers to measure success or failure at every level?

Correct AnswerverifiedShow Answer

A strong corporate culture directs employees' efforts and helps everyone work toward the same goals.

Correct AnswerverifiedShow Answer

What of the following indicates an organization's reason for being?

Correct AnswerverifiedShow Answer

What type of skill is needed to understand foreign markets, cultural differences, and motives of foreign rivals?

Correct AnswerverifiedShow Answer

Managers have many roles within the organization. Discuss the interpersonal roles of managers and how those roles affect the organization.

Correct AnswerverifiedThree interpersonal roles are inherent i...View AnswerShow Answer

If an organization sets out to increase its share of the snack food market by 10 percent during the next eight years, what kind of goal is the organization setting?

Correct AnswerverifiedShow Answer

Corporate culture influences management's philosophy, style, and behavior.

Correct AnswerverifiedShow Answer

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Strategic plans reflect decisions about ...
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A mission statement is a statement of ho...
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Three interpersonal roles are inherent i...
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