Exam 5: Managing for Business Success

Managers at ACE Consulting,who generally seek input from subordinates before making decisions,favor a democratic leadership style.

In developing tactical plans,managers identify those aspects of the business that are most likely to be adversely affected by change.

Managers who tend to make decisions without soliciting input from subordinates are using the following leadership style _____.

A common approach to environmental analysis,called _____ analysis,entails matching a company's strengths with its available opportunities.

Hans Goering,who manages the allocation of his company's resources to achieve its plans,is involved in the _____ process.

After a manager has compared actual performance with standards,the next step is to:

General Motors Corp., as everyone knows, makes many brands of cars, SUVs, vans, trucks, and hybrid vehicles. Production and assembly plants are located in numerous states and countries. Each make of vehicle—such as Chevy, Pontiac, and Saturn—is produced by a separate division. -Because the company serves the needs of individual consumers,businesses,police departments,and the military,GM's stock would be worth more if it reorganized into customer divisions.

Gathering relevant data that will shed light on a problem depends on _____ skills.

Strategic planning is often delegated to combined teams of top,middle,and first-line managers.

Operational plans are broken down into various tactical plans that provide detailed action steps to be taken.

When a manager motivates employees to achieve organizational goals he or she is engaging in the management function of directing.

When Starbucks' profits fell by 77% in 2009,Howard Schultz attributed this drop in profits to:

Generating an idea and establishing an overall course of action for the long term is known as strategic planning.

Core values are the fundamental beliefs about what's important and what is and isn't appropriate in conducting company activities.

What step in the strategic planning process is a manager engaged in when he or she asks this question: "What values will define it?"

The toughest part of the problem-solving process is selecting the best option.

COO stands for Chief Organization Officer.