Question 1

Two companies may have the same purpose but very different mission statements.

Accepted Answer

A) True 
 B)False

Question 2

What are the three types of time-based goals?

Accepted Answer

The three types of goals are l

Question 3

Cathi Prokofit is a candidate for a position at Domino Grace, a financial services firm. She knows that corporate culture can have a large impact on employees, and so she is trying to learn as much as she can about the culture at Domino Grace. During one of her interviews, a Domino Grace Human Resources representative describes the culture as very team-oriented, people-oriented, and hard-working. Which of the following, if true, would support the conclusion that Domino Grace rewards employees based on the process that led to results and not simply the results themselves?

Accepted Answer

A)  When initiatives achieve especially strong results, employees often receive supplementary bonuses in excess of what is called for in their bonus plan. 
B)  Employees are not punished when initiatives fail due to changes in external environment that could not have been predicted. 
C)  Employees are often rewarded for successful initiatives even when the employees' efforts did not contribute to the success of the initiative. 
D)  Employees are rewarded for positive outcomes but not punished for negative ones. 
E)  Employees are punished for negative outcomes but not rewarded for positive ones. 
A)  When initiatives achieve especially strong results, employees often receive supplementary bonuses in excess of what is called for in their bonus plan. 
B)  Employees are not punished when initiatives fail due to changes in external environment that could not have been predicted. 
C)  Employees are often rewarded for successful initiatives even when the employees' efforts did not contribute to the success of the initiative. 
D)  Employees are rewarded for positive outcomes but not punished for negative ones. 
E)  Employees are punished for negative outcomes but not rewarded for positive ones.

Question 4

Lenore is heading up a planning team at her company. The team has just completed the job of developing plans to reach the company's goals. What should they do next?

Accepted Answer

A)  Set new corporate goals 
B)  Determine whether a gap exists between the company's current situation and its desired situation 
C)  Assess the effectiveness of the plan before proceeding further 
D)  Implement the plan that has been developed 
E)  None of these 
A)  Set new corporate goals 
B)  Determine whether a gap exists between the company's current situation and its desired situation 
C)  Assess the effectiveness of the plan before proceeding further 
D)  Implement the plan that has been developed 
E)  None of these

Question 5

Human relations skills are needed at all levels of management.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following would usually be considered a corporate weakness?

Accepted Answer

A)  An economic down-turn 
B)  Increased government regulation 
C)  A large base of satisfied customers 
D)  A strong competitor 
E)  A small bank account 
A)  An economic down-turn 
B)  Increased government regulation 
C)  A large base of satisfied customers 
D)  A strong competitor 
E)  A small bank account

Question 7

"Ms. Jensen, there's someone here from the radio station to interview you about the explosion." Ms. Jensen is about to function in the role Mintzberg described as

Accepted Answer

A)  monitor. 
B)  disseminator. 
C)  spokesperson. 
D)  resource allocator. 
E)  leader. 
A)  monitor. 
B)  disseminator. 
C)  spokesperson. 
D)  resource allocator. 
E)  leader.

Question 8

When Bell Canada diversified by forming BCE, it acquired interests in businesses like trust companies, pipelines, and real estate. This is an example of

Accepted Answer

A)  vertical integration. 
B)  cooperative diversification. 
C)  concentric diversification. 
D)  cost leadership. 
E)  conglomerate diversification. 
A)  vertical integration. 
B)  cooperative diversification. 
C)  concentric diversification. 
D)  cost leadership. 
E)  conglomerate diversification.

Question 9

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)  How an organization will achieve its purpose in the environment in which it conducts business 
E)  None of these 
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)  How an organization will achieve its purpose in the environment in which it conducts business 
E)  None of these

Question 10

Toyota's goal to sell 200 000 vehicles in Canada in 2012 illustrated which basic purpose of goal setting?

Accepted Answer

A)  Goal setting provides direction, guidance, and motivation for managers. 
B)  Goal setting helps firms allocate resources. 
C)  Goal setting helps to define corporate culture. 
D)  Goal setting helps managers assess performance. 
E)  None of the above 
A)  Goal setting provides direction, guidance, and motivation for managers. 
B)  Goal setting helps firms allocate resources. 
C)  Goal setting helps to define corporate culture. 
D)  Goal setting helps managers assess performance. 
E)  None of the above

Question 11

A manager is likely to be engaged in most of the functions of management during the course of any given day.

Accepted Answer

A) True 
 B)False

Question 12

Product Director: We need to pick the best manager for the Prensabi software project. The project involves the latest technology and is very complicated. For example, this project uses a technology called Stage, which is a motion-capture technique that does not require actors to wear specialized gear to record their movements. Since this is a technical project that requires strong technical skills, we should pick the manager with the strongest technical skills.

Executive: The manager needs some familiarity with the technology, but he or she won't actually be writing the software code. The bigger challenge here is to analyze the goals of the project and make sure that it is being developed according to a strong overall vision. That's why we should insist that the manager have outstanding conceptual skills.
Which of the following is most similar to the reasoning employed by the product director?

Accepted Answer

A)  The product requirements for the online collaboration tool are well-understood now, but they may change as the project develops. Since we cannot tell what will be required, we must choose a manager whose skills are outstanding in every way. 
B)  It is clear that we need a large truck in order to move all of our office equipment. Therefore, we should choose the largest truck possible. 
C)  The project before us requires both human skills and conceptual skills. Therefore, we should appoint two managers: one with outstanding human skills and one with outstanding conceptual skills. 
D)  We need to choose a site for the sales conference. Choosing a place close to most employees' workplaces would save travel costs, but some employees also prefer to travel to an exotic location far away. Since it will be impossible to meet both goals, we should focus on the goal that is easier to accomplish. 
E)  The design of the new office building should impress visiting guests, but that should not be the dominant factor in our decision. Relatively few guests visit our offices. Instead, we should save money by choosing an energy-efficient design. 
A)  The product requirements for the online collaboration tool are well-understood now, but they may change as the project develops. Since we cannot tell what will be required, we must choose a manager whose skills are outstanding in every way. 
B)  It is clear that we need a large truck in order to move all of our office equipment. Therefore, we should choose the largest truck possible. 
C)  The project before us requires both human skills and conceptual skills. Therefore, we should appoint two managers: one with outstanding human skills and one with outstanding conceptual skills. 
D)  We need to choose a site for the sales conference. Choosing a place close to most employees' workplaces would save travel costs, but some employees also prefer to travel to an exotic location far away. Since it will be impossible to meet both goals, we should focus on the goal that is easier to accomplish. 
E)  The design of the new office building should impress visiting guests, but that should not be the dominant factor in our decision. Relatively few guests visit our offices. Instead, we should save money by choosing an energy-efficient design.

Question 13

________ strategy focuses on how specific areas can achieve corporate goals.

Accepted Answer

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

Question 14

Donna is going to open her own restaurant. She is concerned not only about her own organization, but also about what her competitors are doing. Explain why a SWOT analysis will be helpful to her.

Accepted Answer

To do a SWOT analysis, Donna must look a

Question 15

A market penetration strategy involves boosting sales of present products by more aggressive selling in the firm's current markets.

Accepted Answer

A) True 
 B)False

Question 16

What is the difference between a "purpose" and a "mission"?

Accepted Answer

A purpose is an organization's

Question 17

List the three types of corporate strategy.

Accepted Answer

Corporate,

Question 18

Terrell is being considered for promotion from a plant manager to top management. He is unsure whether he is qualified for the position. He wants to ensure that he is an effective manager, and not simply having success in the workplace because of his multiple promotions in the last few years. Although he's never been a top manager, there are some things he does in his personal life other members of the management team think qualify him for the position. What personal activity does management most likely think is a good indicator of whether or not Terrell will be an effective top manager?

Accepted Answer

A)  He is part of a theatrical group that gives performances to hundreds of people, showing that he is not afraid to speak in front of a crowd. 
B)  He juggles being a parent, working as a middle manager, and having personal hobbies, showing an ability to do well in all aspects of his life without going overboard in one or neglecting another. 
C)  He has many siblings, showing that he knows how to share space with a large number of people. 
D)  He quickly learns how to play new games by following the rules explained to him. 
E)  He was a member of the debate team in high school and consequently is well-versed in being able to argue both sides of an issue. 
A)  He is part of a theatrical group that gives performances to hundreds of people, showing that he is not afraid to speak in front of a crowd. 
B)  He juggles being a parent, working as a middle manager, and having personal hobbies, showing an ability to do well in all aspects of his life without going overboard in one or neglecting another. 
C)  He has many siblings, showing that he knows how to share space with a large number of people. 
D)  He quickly learns how to play new games by following the rules explained to him. 
E)  He was a member of the debate team in high school and consequently is well-versed in being able to argue both sides of an issue.

Question 19

To be effective, all managers need an equal balance of technical, human, and conceptual skills.

Accepted Answer

A) True 
 B)False

Question 20

Gildan Activewear pursues a cost leadership business-level strategy.

Accepted Answer

A) True 
 B)False

Two companies may have the same purpose but very different mission statements.

What are the three types of time-based goals?

Lenore is heading up a planning team at her company. The team has just completed the job of developing plans to reach the company's goals. What should they do next?

Human relations skills are needed at all levels of management.

Which of the following would usually be considered a corporate weakness?

"Ms. Jensen, there's someone here from the radio station to interview you about the explosion." Ms. Jensen is about to function in the role Mintzberg described as

When Bell Canada diversified by forming BCE, it acquired interests in businesses like trust companies, pipelines, and real estate. This is an example of

Which of the following best describes a mission statement?

Toyota's goal to sell 200 000 vehicles in Canada in 2012 illustrated which basic purpose of goal setting?

A manager is likely to be engaged in most of the functions of management during the course of any given day.

________ strategy focuses on how specific areas can achieve corporate goals.

Donna is going to open her own restaurant. She is concerned not only about her own organization, but also about what her competitors are doing. Explain why a SWOT analysis will be helpful to her.

A market penetration strategy involves boosting sales of present products by more aggressive selling in the firm's current markets.

What is the difference between a "purpose" and a "mission"?

List the three types of corporate strategy.

To be effective, all managers need an equal balance of technical, human, and conceptual skills.

Gildan Activewear pursues a cost leadership business-level strategy.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

Exam 6: Managing the Business Enterprise

Two companies may have the same purpose but very different mission statements.

What are the three types of time-based goals?

Lenore is heading up a planning team at her company. The team has just completed the job of developing plans to reach the company's goals. What should they do next?

Human relations skills are needed at all levels of management.

Which of the following would usually be considered a corporate weakness?

"Ms. Jensen, there's someone here from the radio station to interview you about the explosion." Ms. Jensen is about to function in the role Mintzberg described as

When Bell Canada diversified by forming BCE, it acquired interests in businesses like trust companies, pipelines, and real estate. This is an example of

Which of the following best describes a mission statement?

Toyota's goal to sell 200 000 vehicles in Canada in 2012 illustrated which basic purpose of goal setting?

A manager is likely to be engaged in most of the functions of management during the course of any given day.

________ strategy focuses on how specific areas can achieve corporate goals.

Donna is going to open her own restaurant. She is concerned not only about her own organization, but also about what her competitors are doing. Explain why a SWOT analysis will be helpful to her.

A market penetration strategy involves boosting sales of present products by more aggressive selling in the firm's current markets.

What is the difference between a "purpose" and a "mission"?

List the three types of corporate strategy.

To be effective, all managers need an equal balance of technical, human, and conceptual skills.

Gildan Activewear pursues a cost leadership business-level strategy.

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship, Small Business, and New Venture Creation

The Global Context of Business

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating, Satisfying, and Leading Employees

Operations Management, Productivity, and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters