Question 1

The shared experiences,stories,beliefs,and norms that characterize an organization are called ________.

Accepted Answer

A)  human resource management 
B)  its product philosophy 
C)  its corporate culture 
D)  its mission 
A)  human resource management 
B)  its product philosophy 
C)  its corporate culture 
D)  its mission

Question 2

Middle managers are responsible for implementing the strategies,policies,and decisions made by top managers.

Accepted Answer

A) True 
 B)False

Question 3

Most managers would be categorized as top managers.

Accepted Answer

A) True 
 B)False

Question 4

According to the authors of the text,long-term goals are set for a period of less than one year.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following best describes functional strategy?

Accepted Answer

A)  A strategy for determining the firm's overall attitude towards 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. 
A)  A strategy for determining the firm's overall attitude towards 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.

Question 6

CFO and controller are titles associated with ________ managers.

Accepted Answer

A)  financial 
B)  information 
C)  human resource 
D)  marketing 
A)  financial 
B)  information 
C)  human resource 
D)  marketing

Question 7

Determining what the organization needs to do and how best to get it done requires ________.

Accepted Answer

A)  organizing 
B)  planning 
C)  controlling 
D)  processing 
A)  organizing 
B)  planning 
C)  controlling 
D)  processing

Question 8

Increasing sales by 4 percent in the next 6 months would be an example of an intermediate goal.

Accepted Answer

A) True 
 B)False

Question 9

The first step in the planning process is determining goals.What is the next step?

Accepted Answer

A)  Developing a mission 
B)  Developing a comprehensive strategy for achieving the goals 
C)  Developing tactics for achieving the goals 
D)  Developing an operational plan 
A)  Developing a mission 
B)  Developing a comprehensive strategy for achieving the goals 
C)  Developing tactics for achieving the goals 
D)  Developing an operational plan

Question 10

Which of the following is NOT listed in the text as one of the basic steps of strategy formulation?

Accepted Answer

A)  setting strategic goals 
B)  determining what advertising mode to use 
C)  analyzing the organization and its environment 
D)  matching the organization and its environment 
A)  setting strategic goals 
B)  determining what advertising mode to use 
C)  analyzing the organization and its environment 
D)  matching the organization and its environment

Question 11

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.
-At the end of the month,Donna compares actual sales to the goal that she set during the planning phase.Which of the management functions best describes this activity? Why is this important?

Accepted Answer

Donna is now engaging in the process of

Question 12

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 determined to spend a good amount of time on strategy formulation.How will she likely follow the process?

Accepted Answer

Donna will first focus on setting strate

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Most companies have which of the following types of managers to hire and train employees,evaluate performance,and determine compensation?

Accepted Answer

A)  operations managers 
B)  executive managers 
C)  human resource managers 
D)  production managers 
A)  operations managers 
B)  executive managers 
C)  human resource managers 
D)  production managers

Question 15

Mary Beth Graham works well with people and makes them feel excited about their work.She has strong ________.

Accepted Answer

A)  human relations skills 
B)  technical skills 
C)  accounting skills 
D)  conceptual skills 
A)  human relations skills 
B)  technical skills 
C)  accounting skills 
D)  conceptual skills

Question 16

Top managers depend most on conceptual skills,first-line managers least.

Accepted Answer

A) True 
 B)False

Question 17

The four leading causes of wasted time for managers are paperwork,phone calls,meetings,and e-mail.

Accepted Answer

A) True 
 B)False

Question 18

Strategic plans are usually created by the firm's top management team.

Accepted Answer

A) True 
 B)False

Question 19

A secretary's ability to type and an accountant's ability to audit a company's records are examples of ________.

Accepted Answer

A)  motor skills 
B)  technical skills 
C)  human relations skills 
D)  conceptual skills 
A)  motor skills 
B)  technical skills 
C)  human relations skills 
D)  conceptual skills

Question 20

Define the term corporate culture.

Accepted Answer

Corporate culture is the share

The shared experiences,stories,beliefs,and norms that characterize an organization are called ________.

Middle managers are responsible for implementing the strategies,policies,and decisions made by top managers.

Most managers would be categorized as top managers.

According to the authors of the text,long-term goals are set for a period of less than one year.

Which of the following best describes functional strategy?

CFO and controller are titles associated with ________ managers.

Determining what the organization needs to do and how best to get it done requires ________.

Increasing sales by 4 percent in the next 6 months would be an example of an intermediate goal.

The first step in the planning process is determining goals.What is the next step?

Which of the following is NOT listed in the text as one of the basic steps of strategy formulation?

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

Most companies have which of the following types of managers to hire and train employees,evaluate performance,and determine compensation?

Mary Beth Graham works well with people and makes them feel excited about their work.She has strong ________.

Top managers depend most on conceptual skills,first-line managers least.

The four leading causes of wasted time for managers are paperwork,phone calls,meetings,and e-mail.

Strategic plans are usually created by the firm's top management team.

A secretary's ability to type and an accountant's ability to audit a company's records are examples of ________.

Define the term corporate culture.

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

The shared experiences,stories,beliefs,and norms that characterize an organization are called ________.

Middle managers are responsible for implementing the strategies,policies,and decisions made by top managers.

Most managers would be categorized as top managers.

According to the authors of the text,long-term goals are set for a period of less than one year.

Which of the following best describes functional strategy?

CFO and controller are titles associated with ________ managers.

Determining what the organization needs to do and how best to get it done requires ________.

Increasing sales by 4 percent in the next 6 months would be an example of an intermediate goal.

The first step in the planning process is determining goals.What is the next step?

Which of the following is NOT listed in the text as one of the basic steps of strategy formulation?

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

Most companies have which of the following types of managers to hire and train employees,evaluate performance,and determine compensation?

Mary Beth Graham works well with people and makes them feel excited about their work.She has strong ________.

Top managers depend most on conceptual skills,first-line managers least.

The four leading causes of wasted time for managers are paperwork,phone calls,meetings,and e-mail.

Strategic plans are usually created by the firm's top management team.

A secretary's ability to type and an accountant's ability to audit a company's records are examples of ________.

Define the term corporate culture.

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