Question 1

Vertical integration means acquiring control of competitors in the same or similar markets with the same or similar products.

Accepted Answer

A) True 
 B)False

Question 2

Reebok wants to make a profit by manufacturing and selling athletic shoes and related merchandise. This is their

Accepted Answer

A)  strategic goal. 
B)  long-term goal. 
C)  purpose. 
D)  short-term goal. 
E)  mission. 
A)  strategic goal. 
B)  long-term goal. 
C)  purpose. 
D)  short-term goal. 
E)  mission.

Question 3

Which of the following is correct with respect to the concepts of certainty, risk, and uncertainty?

Accepted Answer

A)  The majority of managerial decisions are made under conditions of certainty. 
B)  In a situation of risk, the alternatives are known, but costs are simply probabilities. 
C)  In a situation of uncertainty, the manager knows the alternatives that are available, but not the outcomes that will result from a specific alternative. 
D)  There is very little difference between the conditions of risk and uncertainty because in both the outcome is unclear. 
E)  Under a condition of certainty, profits are guaranteed. 
A)  The majority of managerial decisions are made under conditions of certainty. 
B)  In a situation of risk, the alternatives are known, but costs are simply probabilities. 
C)  In a situation of uncertainty, the manager knows the alternatives that are available, but not the outcomes that will result from a specific alternative. 
D)  There is very little difference between the conditions of risk and uncertainty because in both the outcome is unclear. 
E)  Under a condition of certainty, profits are guaranteed.

Question 4

A study by Google found that technical expertise ranked first among a list of eight "Habits of Highly Effective Google Managers."

Accepted Answer

A) True 
 B)False

Question 5

Research shows that managers who set SMART goals have higher job satisfaction than managers who don't set SMART goals.

Accepted Answer

A) True 
 B)False

Question 6

Escalation of commitment means investing more money in a project, but only after it is clear that the project is worthwhile.

Accepted Answer

A) True 
 B)False

Question 7

At the end of the budget period, Mary compares actual performance against standards. When she does this, she is performing the ________ function of management.

Accepted Answer

A)  planning 
B)  organizing 
C)  leading 
D)  controlling 
E)  negotiation 
A)  planning 
B)  organizing 
C)  leading 
D)  controlling 
E)  negotiation

Question 8

Managers receive overtime pay if they work more than 40 hours per week.

Accepted Answer

A) True 
 B)False

Question 9

Describing managers' jobs by referring to functions like planning, organizing, leading, and controlling gives us a good general picture of what managers do, but it may not give a clear idea of the specific activities that managers are involved in.

Accepted Answer

A) True 
 B)False

Question 10

Leading is the management process that involves guiding and motivating employees to meet the firm's objectives.

Accepted Answer

A) True 
 B)False

Question 11

Explain how plans differ at the strategic, tactical, and operational levels.

Accepted Answer

plans that reflect decisions about resou

Question 12

Port Metro Vancouver's successful reduction of container "dwell time" illustrates 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)  It does 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)  It does none of the above.

Question 13

When Maple Leaf Gardens Ltd. acquired the Toronto Raptors, this was an example of related diversification because Maple Leaf already owned the Toronto Maple Leafs.

Accepted Answer

A) True 
 B)False

Question 14

A manager who focuses on being effective will likely also be efficient, but a manager who focuses on being efficient may or may not be effective.

Accepted Answer

A) True 
 B)False

Question 15

3M Corp.'s stated goal of earning 30 percent of its profits from sales of products less than four years old is an example of goals that

Accepted Answer

A)  define corporate culture. 
B)  help assess performance. 
C)  help allocate resources. 
D)  provide direction. 
E)  help make decisions. 
A)  define corporate culture. 
B)  help assess performance. 
C)  help allocate resources. 
D)  provide direction. 
E)  help make decisions.

Question 16

What is organizational analysis?

Accepted Answer

Organizational analy

Question 17

What is the difference in the need for conceptual skills at first-line management levels and the need at top management levels, and what accounts for this difference?

Accepted Answer

Top-level managers deal with abstract st

Question 18

Cheryl is a newly appointed manager. She wants to do a good job with regard to the controlling function of management. In terms of the control process, what is the first thing she should do?

Accepted Answer

A)  Adjust the standards 
B)  Continue with current activities 
C)  Compare performance with standards 
D)  Establish standards 
E)  Measure employee performance 
A)  Adjust the standards 
B)  Continue with current activities 
C)  Compare performance with standards 
D)  Establish standards 
E)  Measure employee performance

Question 19

If a firm is building a hotel and plans for two grand opening dates, they are most likely engaged in

Accepted Answer

A)  contingency planning. 
B)  crisis management. 
C)  investment reduction. 
D)  differentiation. 
E)  a SWOT analysis. 
A)  contingency planning. 
B)  crisis management. 
C)  investment reduction. 
D)  differentiation. 
E)  a SWOT analysis.

Question 20

"Hey Reg! I just caught two kids shoplifting! What do I do now?" the assistant manager said to his boss, Reg Caluza. Reg was about to function in the role Mintzberg identified as the

Accepted Answer

A)  spokesperson. 
B)  figurehead. 
C)  disturbance handler. 
D)  resource allocator. 
E)  monitor. 
A)  spokesperson. 
B)  figurehead. 
C)  disturbance handler. 
D)  resource allocator. 
E)  monitor.

Vertical integration means acquiring control of competitors in the same or similar markets with the same or similar products.

Reebok wants to make a profit by manufacturing and selling athletic shoes and related merchandise. This is their

Which of the following is correct with respect to the concepts of certainty, risk, and uncertainty?

A study by Google found that technical expertise ranked first among a list of eight "Habits of Highly Effective Google Managers."

Research shows that managers who set SMART goals have higher job satisfaction than managers who don't set SMART goals.

Escalation of commitment means investing more money in a project, but only after it is clear that the project is worthwhile.

At the end of the budget period, Mary compares actual performance against standards. When she does this, she is performing the ________ function of management.

Managers receive overtime pay if they work more than 40 hours per week.

Describing managers' jobs by referring to functions like planning, organizing, leading, and controlling gives us a good general picture of what managers do, but it may not give a clear idea of the specific activities that managers are involved in.

Leading is the management process that involves guiding and motivating employees to meet the firm's objectives.

Explain how plans differ at the strategic, tactical, and operational levels.

Port Metro Vancouver's successful reduction of container "dwell time" illustrates which basic purpose of goal setting?

When Maple Leaf Gardens Ltd. acquired the Toronto Raptors, this was an example of related diversification because Maple Leaf already owned the Toronto Maple Leafs.

A manager who focuses on being effective will likely also be efficient, but a manager who focuses on being efficient may or may not be effective.

3M Corp.'s stated goal of earning 30 percent of its profits from sales of products less than four years old is an example of goals that

What is organizational analysis?

What is the difference in the need for conceptual skills at first-line management levels and the need at top management levels, and what accounts for this difference?

Cheryl is a newly appointed manager. She wants to do a good job with regard to the controlling function of management. In terms of the control process, what is the first thing she should do?

If a firm is building a hotel and plans for two grand opening dates, they are most likely engaged in

"Hey Reg! I just caught two kids shoplifting! What do I do now?" the assistant manager said to his boss, Reg Caluza. Reg was about to function in the role Mintzberg identified as the

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

Vertical integration means acquiring control of competitors in the same or similar markets with the same or similar products.

Reebok wants to make a profit by manufacturing and selling athletic shoes and related merchandise. This is their

Which of the following is correct with respect to the concepts of certainty, risk, and uncertainty?

A study by Google found that technical expertise ranked first among a list of eight "Habits of Highly Effective Google Managers."

Research shows that managers who set SMART goals have higher job satisfaction than managers who don't set SMART goals.

Escalation of commitment means investing more money in a project, but only after it is clear that the project is worthwhile.

At the end of the budget period, Mary compares actual performance against standards. When she does this, she is performing the ________ function of management.

Managers receive overtime pay if they work more than 40 hours per week.

Describing managers' jobs by referring to functions like planning, organizing, leading, and controlling gives us a good general picture of what managers do, but it may not give a clear idea of the specific activities that managers are involved in.

Leading is the management process that involves guiding and motivating employees to meet the firm's objectives.

Explain how plans differ at the strategic, tactical, and operational levels.

Port Metro Vancouver's successful reduction of container "dwell time" illustrates which basic purpose of goal setting?

When Maple Leaf Gardens Ltd. acquired the Toronto Raptors, this was an example of related diversification because Maple Leaf already owned the Toronto Maple Leafs.

A manager who focuses on being effective will likely also be efficient, but a manager who focuses on being efficient may or may not be effective.

3M Corp.'s stated goal of earning 30 percent of its profits from sales of products less than four years old is an example of goals that

What is organizational analysis?

What is the difference in the need for conceptual skills at first-line management levels and the need at top management levels, and what accounts for this difference?

Cheryl is a newly appointed manager. She wants to do a good job with regard to the controlling function of management. In terms of the control process, what is the first thing she should do?

If a firm is building a hotel and plans for two grand opening dates, they are most likely engaged in

"Hey Reg! I just caught two kids shoplifting! What do I do now?" the assistant manager said to his boss, Reg Caluza. Reg was about to function in the role Mintzberg identified as the

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