Exam 6: Managing the Business Enterprise

List the steps in the rational decision-making process.

Beta Company has set a goal of increasing sales by 10% this year. This goal will most likely have the effect of

Top managers are to middle and lower-level managers as

________ are areas in which a firm can potentially expand, grow, or take advantage of existing strengths.

The purpose of the four-part management process is to

In the typical organization, what is the view about managerial jobs and the role of overtime pay in those jobs?

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

The term SWOT analysis stands for the identification of

CN's diversification into trucking is an example of related diversification.

Mintzberg's research on managers showed which of the following?

Strategy formulation is the

What are the three general categories of roles that Mintzberg identified in his study of managers?

The basic management skill that is demonstrated in one's ability to think in the abstract and to see beyond the present situation is ________ skill.

When Maple Leaf Gardens, which already owned the Toronto Maple Leafs, also acquired the Toronto Raptors basketball team, this was an example of

The ________ managers are responsible for production, inventory, and quality control.

Which of the following is correct with regard to the question of whether management is an art or a science?

An organization called Teach For Canada provides a critical source of well-trained teachers who are helping break the cycle of educational inequity. These teachers, called corps members, commit to teaching for two years in one of 39 urban and rural regions across the country, going above and beyond traditional expectations to help their students achieve at high levels. Teach For Canada's alumni are playing critical leadership roles in the effort to improve the quality of public education in low-income communities. Armed with the experience, conviction, and insight that come from leading children to reach their potential, alumni are working from all sectors to shape our schools, policies, and investments in low-income communities. What objective might Teach For Canada have, based on this description of its company mission?

List the five key functional areas in which managers work.

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, if true, would weaken the product director's argument?

Describe the three steps in strategy formulation.