Question 1

How can organizations best deal with emergencies requiring immediate response?

Accepted Answer

A)   Contingency plans
B)   Operational plans
C)   Crisis management plans
D)   Tactical plans
E)   Cultural flexibility plansF) B) and D)
G) B) and E)

Question 2

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 B)
G) A) and E)

Question 3

Define the term corporate culture.

Accepted Answer

Corporate culture is the share...

Question 4

What type of skills requires defining problems and selecting the best course of action to take?

Accepted Answer

A)   Human relations skills
B)   Production skills
C)   Conceptual skills
D)   Decision-making skills
E)   Technical skillsF) C) and D)
G) A) 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 E)
G) A) and E)

Question 6

The first step in the control process is to compare actual performance to standards.

Accepted Answer

A) True 
 B)False

Question 7

A firm first sets its strategies and then focuses attention on goals to accomplish them.

Accepted Answer

A) True 
 B)False

Question 8

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 C)

Question 9

What function of the management process is used to monitor and ensure the organization is meeting its goals?

Accepted Answer

A)   Planning
B)   Organizing
C)   Leading
D)   Controlling
E)   BudgetingF) A) and B)
G) B) and E)

Question 10

Which description identifies the organizing function of the management process?

Accepted Answer

A)   Guiding and motivating employees to meet organizational objectives
B)   Determining how best to arrange an organization's resources into a coherent structure
C)   Scanning the business environment for threats and opportunities
D)   Monitoring an organization's performance to ensure that it is meeting its goals
E)   Determining what an organization needs to do and how best to get it doneF) None of the above
G) A) and B)

Question 11

When the finance department has a goal of a 3 percent increase in return on investment in three years,what type of goal is the organization setting?

Accepted Answer

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

Question 12

Which of the following managers are directly responsible for getting product information from producers to consumers?

Accepted Answer

A)   Human resource managers
B)   Public relations managers
C)   Information managers
D)   Marketing managers
E)   Financial managersF) D) and E)
G) All of the above

Question 13

What can managers do to incorporate a scientific approach to management?

Accepted Answer

Many management problems and issues can ...

Question 14

Discuss the art of management and how it is supported by the science of management.

Accepted Answer

Managers must blend an element of intuit...

Question 15

Which of the following is NOT considered an organizational strength?

Accepted Answer

A)   Strong market position
B)   Dedicated work force
C)   Changing consumer tastes
D)   Technical expertise
E)   Recognized customer relation managementF) All of the above
G) C) and D)

Question 16

Identify and explain the four types of decisional roles and the function of each role.

Accepted Answer

The information acquired by the manager ...

Question 17

Define the term management.

Accepted Answer

Management is the process of planning,or...

Question 18

Which of the following managers are responsible for planning and overseeing the firm's accounting functions?

Accepted Answer

A)   Financial managers
B)   Information managers
C)   Production managers
D)   Human resource managers
E)   Marketing managersF) A) and B)
G) All of the above

Question 19

Which variable of SWOT analysis identifies changing consumer tastes,hostile takeover offers,and new government regulations?

Accepted Answer

A)   Threats
B)   Opportunities
C)   Strategies
D)   Internal factors
E)   WeaknessesF) B) and C)
G) C) and D)

Question 20

The starting point in effective management is setting goals.

Accepted Answer

A) True 
 B)False

Exam 5: Managing the Business

Which variable of SWOT analysis identifies changing consumer tastes,hostile takeover offers,and new government regulations?

Correct AnswerverifiedShow Answer

Discuss the art of management and how it is supported by the science of management.

Correct AnswerverifiedManagers must blend an element of intuit...View AnswerShow Answer

Which of the following managers are responsible for planning and overseeing the firm's accounting functions?

Correct AnswerverifiedShow Answer

What function of the management process is used to monitor and ensure the organization is meeting its goals?

Correct AnswerverifiedShow Answer

What type of skills requires defining problems and selecting the best course of action to take?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What can managers do to incorporate a scientific approach to management?

Correct AnswerverifiedMany management problems and issues can ...View AnswerShow Answer

A firm first sets its strategies and then focuses attention on goals to accomplish them.

Correct AnswerverifiedShow Answer

Identify and explain the four types of decisional roles and the function of each role.

Correct AnswerverifiedThe information acquired by the manager ...View AnswerShow Answer

Which of the following managers are directly responsible for getting product information from producers to consumers?

Correct AnswerverifiedShow Answer

Which of the following BEST describes a business strategy?

Correct AnswerverifiedShow Answer

How can organizations best deal with emergencies requiring immediate response?

Correct AnswerverifiedShow Answer

The first step in the control process is to compare actual performance to standards.

Correct AnswerverifiedShow Answer

Define the term management.

Correct AnswerverifiedManagement is the process of planning,or...View AnswerShow 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

The starting point in effective management is setting goals.

Correct AnswerverifiedShow Answer

Which of the following is NOT considered an organizational strength?

Correct AnswerverifiedShow Answer

Define the term corporate culture.

Correct AnswerverifiedCorporate culture is the share...View AnswerShow Answer

When the finance department has a goal of a 3 percent increase in return on investment in three years,what type of goal is the organization setting?

Correct AnswerverifiedShow Answer

Which description identifies the organizing function of the management process?

Correct AnswerverifiedShow Answer

Correct Answer
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Managers must blend an element of intuit...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Many management problems and issues can ...
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Correct Answer
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Correct Answer
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The information acquired by the manager ...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Management is the process of planning,or...
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Correct Answer
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Correct Answer
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Correct Answer
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Corporate culture is the share...
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Correct Answer
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Correct Answer
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