Question 1

What is the difference between a goal and a strategy?

Accepted Answer

A goal is an objective that a

Question 2

Functional strategies determine the firm's overall attitude toward growth and the way that it will manage its business or product lines.

Accepted Answer

A) True 
 B)False

Question 3

Short Case Scenario 5-1
Donna Hamilton is excited to open her own restaurant, the Westminster Inn. Although Donna has worked as a chef and even managed a number of restaurants during her career, she is concerned that she gets off to a good start. Donna spends several weeks before the restaurant opens setting goals.
-What is corporate culture? Can Donna significantly influence the corporate culture at the Westminster Inn?

Accepted Answer

Corporate culture includes the

Question 4

XYZ Cake Mix Company is merging with the ABC Petroleum Company.This could be an example of ________.

Accepted Answer

A)  unrelated diversification 
B)  related diversification 
C)  e-partnering 
D)  franchising 
A)  unrelated diversification 
B)  related diversification 
C)  e-partnering 
D)  franchising

Question 5

________ has a wider scope than ________.

Accepted Answer

A)  Strategy; planning 
B)  Goal-setting; planning 
C)  Planning; strategy 
D)  Planning; goal-setting 
A)  Strategy; planning 
B)  Goal-setting; planning 
C)  Planning; strategy 
D)  Planning; goal-setting

Question 6

The process of planning,organizing,leading,and controlling an organization's financial,physical,human,and information resources to achieve its goals is called ________.

Accepted Answer

A)  organizational planning 
B)  developing a mission statement 
C)  management 
D)  skills development 
A)  organizational planning 
B)  developing a mission statement 
C)  management 
D)  skills development

Question 7

The goals and objectives set by middle managers support the goals and objectives of ________.

Accepted Answer

A)  top managers 
B)  first-line managers 
C)  human resource managers 
D)  operations managers 
A)  top managers 
B)  first-line managers 
C)  human resource managers 
D)  operations managers

Question 8

Alice's job doesn't depend on conceptual skills,so she is likely not a ________.

Accepted Answer

A)  first-line manager 
B)  top manager 
C)  middle manager 
D)  lower-level manager 
A)  first-line manager 
B)  top manager 
C)  middle manager 
D)  lower-level manager

Question 9

Explain the importance of strategic management and effective goal setting in organizational success.

Accepted Answer

Strategic management is the process of h

Question 10

Short Case Scenario 5-1
Donna Hamilton is excited to open her own restaurant, the Westminster Inn. Although Donna has worked as a chef and even managed a number of restaurants during her career, she is concerned that she gets off to a good start. Donna spends several weeks before the restaurant opens setting goals.
-Donna is especially concerned about what her competitors are doing.What part of SWOT analysis will help her?

Accepted Answer

An environmental analysis,whic

Question 11

The events of September 11,2001,underscore the need for organizations to develop ________ plans.

Accepted Answer

A)  crisis management 
B)  contingency 
C)  strategic 
D)  operational 
A)  crisis management 
B)  contingency 
C)  strategic 
D)  operational

Question 12

Increasing sales by 4 percent in the next eight months is an example of ________.

Accepted Answer

A)  a tactical goal 
B)  a strategic goal 
C)  a short-term goal 
D)  an intermediate goal 
A)  a tactical goal 
B)  a strategic goal 
C)  a short-term goal 
D)  an intermediate goal

Question 13

What are the three basic levels of management?

Accepted Answer

The three basic leve

Question 14

Short Case Scenario 5-1
Donna Hamilton is excited to open her own restaurant, the Westminster Inn. Although Donna has worked as a chef and even managed a number of restaurants during her career, she is concerned that she gets off to a good start. Donna spends several weeks before the restaurant opens setting goals.
-Help Donna to understand the difference between conceptual skills and technical skills.

Accepted Answer

Conceptual skills refer to a person's ab

Question 15

In strategy formulation,________ is performed prior to ________.

Accepted Answer

A)  SWOT analysis; setting strategic goals 
B)  setting strategic goals; SWOT analysis 
C)  matching the organization and its environment; setting strategic goals 
D)  matching the organization and its environment; SWOT analysis 
A)  SWOT analysis; setting strategic goals 
B)  setting strategic goals; SWOT analysis 
C)  matching the organization and its environment; setting strategic goals 
D)  matching the organization and its environment; SWOT analysis

Question 16

Which of the following are directly responsible for getting products from producers to consumers?

Accepted Answer

A)  production managers 
B)  operations managers 
C)  information managers 
D)  marketing managers 
A)  production managers 
B)  operations managers 
C)  information managers 
D)  marketing managers

Question 17

Best Buy purchased the start-up business Geek Squad.What type of corporate strategy did this reflect?

Accepted Answer

This purchase is an example of

Question 18

Which of the following is NOT mentioned in the text as a purpose for setting organizational goals?

Accepted Answer

A)  providing direction and guidance for managers at all levels 
B)  helping firms allocate resources 
C)  implementing the firm's tactics 
D)  defining corporate culture 
A)  providing direction and guidance for managers at all levels 
B)  helping firms allocate resources 
C)  implementing the firm's tactics 
D)  defining corporate culture

Question 19

Determining the best way to arrange a firm's resources and activities into a coherent structure is called controlling.

Accepted Answer

A) True 
 B)False

Question 20

Organizing is the management process of ________.

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 
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

What is the difference between a goal and a strategy?

Functional strategies determine the firm's overall attitude toward growth and the way that it will manage its business or product lines.

XYZ Cake Mix Company is merging with the ABC Petroleum Company.This could be an example of ________.

has a wider scope than .

The process of planning,organizing,leading,and controlling an organization's financial,physical,human,and information resources to achieve its goals is called ________.

The goals and objectives set by middle managers support the goals and objectives of ________.

Alice's job doesn't depend on conceptual skills,so she is likely not a ________.

Explain the importance of strategic management and effective goal setting in organizational success.

The events of September 11,2001,underscore the need for organizations to develop ________ plans.

Increasing sales by 4 percent in the next eight months is an example of ________.

What are the three basic levels of management?

In strategy formulation, is performed prior to .

Which of the following are directly responsible for getting products from producers to consumers?

Best Buy purchased the start-up business Geek Squad.What type of corporate strategy did this reflect?

Which of the following is NOT mentioned in the text as a purpose for setting organizational goals?

Determining the best way to arrange a firm's resources and activities into a coherent structure is called controlling.

Organizing is the management process of ________.

The U.S.Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

The Global Context of Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters

Exam 5: Business Management

What is the difference between a goal and a strategy?

Functional strategies determine the firm's overall attitude toward growth and the way that it will manage its business or product lines.

XYZ Cake Mix Company is merging with the ABC Petroleum Company.This could be an example of ________.

________ has a wider scope than ________.

The process of planning,organizing,leading,and controlling an organization's financial,physical,human,and information resources to achieve its goals is called ________.

The goals and objectives set by middle managers support the goals and objectives of ________.

Alice's job doesn't depend on conceptual skills,so she is likely not a ________.

Explain the importance of strategic management and effective goal setting in organizational success.

The events of September 11,2001,underscore the need for organizations to develop ________ plans.

Increasing sales by 4 percent in the next eight months is an example of ________.

What are the three basic levels of management?

In strategy formulation,________ is performed prior to ________.

Which of the following are directly responsible for getting products from producers to consumers?

Best Buy purchased the start-up business Geek Squad.What type of corporate strategy did this reflect?

Which of the following is NOT mentioned in the text as a purpose for setting organizational goals?

Determining the best way to arrange a firm's resources and activities into a coherent structure is called controlling.

Organizing is the management process of ________.

The U.S.Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

The Global Context of Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters

has a wider scope than .

In strategy formulation, is performed prior to .