Question 1

Suppose that within the next four years McDonald's wants to double the number of franchised restaurants in the Toronto area. This is

Accepted Answer

A)  a short-term goal. 
B)  an intermediate goal. 
C)  a strategic target. 
D)  a long-term goal. 
E)  a midrange goal. 
A)  a short-term goal. 
B)  an intermediate goal. 
C)  a strategic target. 
D)  a long-term goal. 
E)  a midrange goal.

Question 2

Kohler makes and markets familiar kitchen and bathroom fixtures. But Kohler also offers a breadth of other products and services, including furniture, tile and stone, and even small engines and backup power systems. It also owns resorts and spas. Kohler ties this diverse product portfolio together under the mission of "contributing to a higher level of gracious living for those who are touched by our products and services." Kohler's overall objective is to build profitable customer relationships by developing efficient yet beautiful products that embrace the "essence of gracious living." Suppose that Kohler is deciding whether to create a line of self-installed kitchen and bathroom fixtures. In what way would Kohler's definition of its mission lead it to make a different decision than it would make if it had no defined mission and merely attempted to follow widely accepted business practices?

Accepted Answer

A)  Kohler would focus on the customers' underlying needs instead of their demand for existing Kohler products. 
B)  Kohler would pursue opportunities that are very different from the areas in which it has competed successfully. 
C)  Kohler would alter its conception of "gracious living" to include activities such as installing kitchen and bathroom fixtures. 
D)  Kohler would not produce the new line of fixtures if it determined that doing so would not fit with its definition of "gracious living." 
E)  Kohler would create the new line of fixtures if the expected profits were higher than products that could more reasonably fit under its definition of "gracious living." 
A)  Kohler would focus on the customers' underlying needs instead of their demand for existing Kohler products. 
B)  Kohler would pursue opportunities that are very different from the areas in which it has competed successfully. 
C)  Kohler would alter its conception of "gracious living" to include activities such as installing kitchen and bathroom fixtures. 
D)  Kohler would not produce the new line of fixtures if it determined that doing so would not fit with its definition of "gracious living." 
E)  Kohler would create the new line of fixtures if the expected profits were higher than products that could more reasonably fit under its definition of "gracious living."

Question 3

When Boeing and Airbus were trying to decide how they should respond to the question of how they could increase their international capacity, they were in what stage of the rational decision-making process?

Accepted Answer

A)  Select the best alternative 
B)  Identify alternatives 
C)  Evaluate alternatives 
D)  Implement the chosen alternative 
E)  Follow up and evaluate the results 
A)  Select the best alternative 
B)  Identify alternatives 
C)  Evaluate alternatives 
D)  Implement the chosen alternative 
E)  Follow up and evaluate the results

Question 4

What are the three levels of plans?

Accepted Answer

Strategic,

Question 5

Scott, the manager of a Computers R Us store, in reviewing the sales results from last week noticed that all but one employee was on target. As he contemplated how to fix the problem, he was engaged in the management process of

Accepted Answer

A)  controlling. 
B)  organizing. 
C)  planning. 
D)  directing. 
E)  staffing. 
A)  controlling. 
B)  organizing. 
C)  planning. 
D)  directing. 
E)  staffing.

Question 6

Top managers at Cortland are involved in the planning process, and they have just finished setting goals for the company. What should they do next?

Accepted Answer

A)  Develop plans to achieve the 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 plans that are necessary to reach the goals that have been set 
E)  None of these 
A)  Develop plans to achieve the 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 plans that are necessary to reach the goals that have been set 
E)  None of these

Question 7

If Ben and Jerry's Ice Cream has a goal of investing 2 percent of their after-tax profits in charitable contributions, that goal

Accepted Answer

A)  helps allocate resources. 
B)  helps assess performance. 
C)  provides direction. 
D)  helps to define corporate culture. 
E)  helps make decisions. 
A)  helps allocate resources. 
B)  helps assess performance. 
C)  provides direction. 
D)  helps to define corporate culture. 
E)  helps make decisions.

Question 8

When the CEO of Compaq Computers broke the company down into several smaller units, each responsible for its own functions, he was engaging in the management function of

Accepted Answer

A)  organizing. 
B)  staffing. 
C)  planning. 
D)  controlling. 
E)  directing. 
A)  organizing. 
B)  staffing. 
C)  planning. 
D)  controlling. 
E)  directing.

Question 9

Describe five of the different corporate-level strategies that a company might pursue.

Accepted Answer

A concentration strategy involves focusi

Question 10

Selection of the best course of action in a particular situation is known as

Accepted Answer

A)  organizing. 
B)  planning. 
C)  management. 
D)  decision making. 
E)  controlling. 
A)  organizing. 
B)  planning. 
C)  management. 
D)  decision making. 
E)  controlling.

Question 11

Mega Computer has decided that within the next five years it wants to become an industry leader in disk drive technology, a technology that has little existing support inside the company at this time. This goal will

Accepted Answer

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

Question 12

Supervisor, office manager, and group leader are at the ________ management level.

Accepted Answer

A)  middle 
B)  officer 
C)  top 
D)  intermediate 
E)  first-line 
A)  middle 
B)  officer 
C)  top 
D)  intermediate 
E)  first-line

Question 13

List and describe the four management functions.

Accepted Answer

The four management functions are planni

Question 14

Managers at Edson Corp. have decided to embark on a systematic planning process. What should they do first?

Accepted Answer

A)  Determine how well employees understand the current plan 
B)  Establish goals for the organization 
C)  Determine whether a gap exists between the company's desired and actual position 
D)  Develop plans to achieve the desired goal 
E)  Implement new plans 
A)  Determine how well employees understand the current plan 
B)  Establish goals for the organization 
C)  Determine whether a gap exists between the company's desired and actual position 
D)  Develop plans to achieve the desired goal 
E)  Implement new plans

Question 15

Setting strategic goals is the first step in strategy formulation. What is the next step?

Accepted Answer

A)  Analyzing the company and its environment 
B)  Segmenting the markets the company wants to penetrate 
C)  Preparing an organizational plan 
D)  Matching company strengths with environmental characteristics 
E)  Developing a mission statement 
A)  Analyzing the company and its environment 
B)  Segmenting the markets the company wants to penetrate 
C)  Preparing an organizational plan 
D)  Matching company strengths with environmental characteristics 
E)  Developing a mission statement

Question 16

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. Cathi has learned that organizations that promote employees' knowledge of the organization's history tend to have strong corporate cultures and that Domino Grace employees lack such knowledge. Cathi concludes that Domino Grace lacks a strong corporate culture. Which of the following points out a flaw in this reasoning?

Accepted Answer

A)  It fails to consider the possibility that Domino Grace has a long history that would inspire employees. 
B)  It mistakenly assumes that all companies with strong corporate cultures adopt the same corporate culture. 
C)  It erroneously concludes that the strength of a corporate culture has no effect on that company's performance. 
D)  It is based on the belief that a few exceptions invalidate a rule that applies in most cases. 
E)  It presupposes that employees' knowledge of company history is necessary in order to have a strong corporate culture. 
A)  It fails to consider the possibility that Domino Grace has a long history that would inspire employees. 
B)  It mistakenly assumes that all companies with strong corporate cultures adopt the same corporate culture. 
C)  It erroneously concludes that the strength of a corporate culture has no effect on that company's performance. 
D)  It is based on the belief that a few exceptions invalidate a rule that applies in most cases. 
E)  It presupposes that employees' knowledge of company history is necessary in order to have a strong corporate culture.

Question 17

Lynne Smith, chief financial officer for Web Industries, is working on a broad set of organizational plans for implementing the decisions made for achieving organizational goals. Lynne is developing a ________ for Web Industries.

Accepted Answer

A)  formula 
B)  blueprint 
C)  function 
D)  strategy 
E)  mission 
A)  formula 
B)  blueprint 
C)  function 
D)  strategy 
E)  mission

Question 18

Contingency planning involves

Accepted Answer

A)  identifying aspects of a business that require changes in organization in three to five years' time. 
B)  developing plans for a business should there be a sudden decrease in revenue or increase in expenses. 
C)  an organization's methods for dealing with emergencies. 
D)  developing plans for future growth. 
E)  identifying aspects of a business or its environment that might entail changes in strategy. 
A)  identifying aspects of a business that require changes in organization in three to five years' time. 
B)  developing plans for a business should there be a sudden decrease in revenue or increase in expenses. 
C)  an organization's methods for dealing with emergencies. 
D)  developing plans for future growth. 
E)  identifying aspects of a business or its environment that might entail changes in strategy.

Question 19

A study by Google of the "Habits of Highly Effective Google Managers" found that the top-ranked managers were

Accepted Answer

A)  strongest on technical skills, but also paid attention to human relations problems. 
B)  even-tempered bosses who made time for one-on-one meetings, and who helped subordinates work through problems. 
C)  strong on conceptual skills and were able to envision the activities that needed to be carried out in order for Google to be successful. 
D)  strong on human relations skills, but did not spend an excessive amount of time dealing with subordinates. 
E)  strong on decision-making and time management skills 
A)  strongest on technical skills, but also paid attention to human relations problems. 
B)  even-tempered bosses who made time for one-on-one meetings, and who helped subordinates work through problems. 
C)  strong on conceptual skills and were able to envision the activities that needed to be carried out in order for Google to be successful. 
D)  strong on human relations skills, but did not spend an excessive amount of time dealing with subordinates. 
E)  strong on decision-making and time management skills

Question 20

Ronald Koslowsky, a marketing manager at Wintron Co., receives a telephone call from LeRoy Shelton, a marketing manager at Young-Times Inc. The two chat socially, occasionally talking about different parts of their work. This is an example of a manager operating in Mintzberg's ________ role.

Accepted Answer

A)  disseminator 
B)  spokesperson 
C)  liaison 
D)  negotiator 
E)  resource allocator 
A)  disseminator 
B)  spokesperson 
C)  liaison 
D)  negotiator 
E)  resource allocator

Suppose that within the next four years McDonald's wants to double the number of franchised restaurants in the Toronto area. This is

When Boeing and Airbus were trying to decide how they should respond to the question of how they could increase their international capacity, they were in what stage of the rational decision-making process?

What are the three levels of plans?

Scott, the manager of a Computers R Us store, in reviewing the sales results from last week noticed that all but one employee was on target. As he contemplated how to fix the problem, he was engaged in the management process of

Top managers at Cortland are involved in the planning process, and they have just finished setting goals for the company. What should they do next?

If Ben and Jerry's Ice Cream has a goal of investing 2 percent of their after-tax profits in charitable contributions, that goal

When the CEO of Compaq Computers broke the company down into several smaller units, each responsible for its own functions, he was engaging in the management function of

Describe five of the different corporate-level strategies that a company might pursue.

Selection of the best course of action in a particular situation is known as

Mega Computer has decided that within the next five years it wants to become an industry leader in disk drive technology, a technology that has little existing support inside the company at this time. This goal will

Supervisor, office manager, and group leader are at the ________ management level.

List and describe the four management functions.

Managers at Edson Corp. have decided to embark on a systematic planning process. What should they do first?

Setting strategic goals is the first step in strategy formulation. What is the next step?

Lynne Smith, chief financial officer for Web Industries, is working on a broad set of organizational plans for implementing the decisions made for achieving organizational goals. Lynne is developing a ________ for Web Industries.

Contingency planning involves

A study by Google of the "Habits of Highly Effective Google Managers" found that the top-ranked managers were

Ronald Koslowsky, a marketing manager at Wintron Co., receives a telephone call from LeRoy Shelton, a marketing manager at Young-Times Inc. The two chat socially, occasionally talking about different parts of their work. This is an example of a manager operating in Mintzberg's ________ role.

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

Suppose that within the next four years McDonald's wants to double the number of franchised restaurants in the Toronto area. This is

When Boeing and Airbus were trying to decide how they should respond to the question of how they could increase their international capacity, they were in what stage of the rational decision-making process?

What are the three levels of plans?

Scott, the manager of a Computers R Us store, in reviewing the sales results from last week noticed that all but one employee was on target. As he contemplated how to fix the problem, he was engaged in the management process of

Top managers at Cortland are involved in the planning process, and they have just finished setting goals for the company. What should they do next?

If Ben and Jerry's Ice Cream has a goal of investing 2 percent of their after-tax profits in charitable contributions, that goal

When the CEO of Compaq Computers broke the company down into several smaller units, each responsible for its own functions, he was engaging in the management function of

Describe five of the different corporate-level strategies that a company might pursue.

Selection of the best course of action in a particular situation is known as

Mega Computer has decided that within the next five years it wants to become an industry leader in disk drive technology, a technology that has little existing support inside the company at this time. This goal will

Supervisor, office manager, and group leader are at the ________ management level.

List and describe the four management functions.

Managers at Edson Corp. have decided to embark on a systematic planning process. What should they do first?

Setting strategic goals is the first step in strategy formulation. What is the next step?

Lynne Smith, chief financial officer for Web Industries, is working on a broad set of organizational plans for implementing the decisions made for achieving organizational goals. Lynne is developing a ________ for Web Industries.

Contingency planning involves

A study by Google of the "Habits of Highly Effective Google Managers" found that the top-ranked managers were

Ronald Koslowsky, a marketing manager at Wintron Co., receives a telephone call from LeRoy Shelton, a marketing manager at Young-Times Inc. The two chat socially, occasionally talking about different parts of their work. This is an example of a manager operating in Mintzberg's ________ role.

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