Question 1

List the three basic levels of management and explain how both the power and complexity of their duties increases as they move up the ladder.

Accepted Answer

First-line managers - supervise the work

Question 2

The marketing manager wants to increase regional sales by 2 percent each quarter over the next year.This is a(n)________ goal.

Accepted Answer

A)  long-term 
B)  intermediate 
C)  short-term 
D)  strategic 
A)  long-term 
B)  intermediate 
C)  short-term 
D)  strategic

Question 3

________ strategy,which takes place at the level of the business unit or product line,focuses on a firm's competitive position.

Accepted Answer

A)  Functional 
B)  Business 
C)  Corporate 
D)  Fundamental 
A)  Functional 
B)  Business 
C)  Corporate 
D)  Fundamental

Question 4

Duke Energy has engaged in contingency planning by making provisions for secondary trading centers in the event of a terrorist attack.

Accepted Answer

A) True 
 B)False

Question 5

What are the purposes of having a strong corporate culture?

Accepted Answer

A strong corporate culture serves severa

Question 6

Technical skills are not important for first-line managers.

Accepted Answer

A) True 
 B)False

Question 7

According to the CEOs of several companies that have undergone radical change in the last decade or so,the process usually goes through all of the following stages EXCEPT:

Accepted Answer

A)  At the highest level, analysis of the company's environment highlights extensive change as the most effective response to its problems. 
B)  Lower-level employees develop informal groups to plan for change. 
C)  The firm sets up new systems for appraising and compensating employees who enforce the firm's new values. 
D)  Top management begins to formulate a vision of a new company. 
A)  At the highest level, analysis of the company's environment highlights extensive change as the most effective response to its problems. 
B)  Lower-level employees develop informal groups to plan for change. 
C)  The firm sets up new systems for appraising and compensating employees who enforce the firm's new values. 
D)  Top management begins to formulate a vision of a new company.

Question 8

In global business,one recent trend pointed out in the text is to ________.

Accepted Answer

A)  hire managers from among the locals in a foreign country 
B)  transfer U.S. managers to foreign locations 
C)  participate less in the global marketplace 
D)  manage the international business from the United States 
A)  hire managers from among the locals in a foreign country 
B)  transfer U.S. managers to foreign locations 
C)  participate less in the global marketplace 
D)  manage the international business from the United States

Question 9

Contingency planning is an organization's method for dealing with emergencies.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) True 
 B)False

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.
-What will an organizational analysis reveal to Donna?

Accepted Answer

An organizational an

Question 12

What is SWOT analysis?

Accepted Answer

After strategic goals have been set,orga

Question 13

Which of the following best describes a mission statement?

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. 
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.

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Skills in understanding and getting along with other people are called ________.

Accepted Answer

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

Question 16

Contingency planning seeks to identify how a company will respond to change.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

The starting point in effective management is setting goals.

Accepted Answer

A) True 
 B)False

Question 19

Financial managers oversee accounting functions and financial resources.

Accepted Answer

A) True 
 B)False

Question 20

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

List the three basic levels of management and explain how both the power and complexity of their duties increases as they move up the ladder.

The marketing manager wants to increase regional sales by 2 percent each quarter over the next year.This is a(n)________ goal.

________ strategy,which takes place at the level of the business unit or product line,focuses on a firm's competitive position.

Duke Energy has engaged in contingency planning by making provisions for secondary trading centers in the event of a terrorist attack.

What are the purposes of having a strong corporate culture?

Technical skills are not important for first-line managers.

According to the CEOs of several companies that have undergone radical change in the last decade or so,the process usually goes through all of the following stages EXCEPT:

In global business,one recent trend pointed out in the text is to ________.

Contingency planning is an organization's method for dealing with emergencies.

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

What is SWOT analysis?

Which of the following best describes a mission statement?

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

Skills in understanding and getting along with other people are called ________.

Contingency planning seeks to identify how a company will respond to change.

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

The starting point in effective management is setting goals.

Financial managers oversee accounting functions and financial resources.

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

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

List the three basic levels of management and explain how both the power and complexity of their duties increases as they move up the ladder.

The marketing manager wants to increase regional sales by 2 percent each quarter over the next year.This is a(n)________ goal.

________ strategy,which takes place at the level of the business unit or product line,focuses on a firm's competitive position.

Duke Energy has engaged in contingency planning by making provisions for secondary trading centers in the event of a terrorist attack.

What are the purposes of having a strong corporate culture?

Technical skills are not important for first-line managers.

According to the CEOs of several companies that have undergone radical change in the last decade or so,the process usually goes through all of the following stages EXCEPT:

In global business,one recent trend pointed out in the text is to ________.

Contingency planning is an organization's method for dealing with emergencies.

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

What is SWOT analysis?

Which of the following best describes a mission statement?

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

Skills in understanding and getting along with other people are called ________.

Contingency planning seeks to identify how a company will respond to change.

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

The starting point in effective management is setting goals.

Financial managers oversee accounting functions and financial resources.

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

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