Question 1

When a manager responds to a strike at a supplier, the manager is acting in the ________ role.

Accepted Answer

A)  disturbance handler 
B)  liaison 
C)  monitor 
D)  resource allocator 
E)  leader 
A)  disturbance handler 
B)  liaison 
C)  monitor 
D)  resource allocator 
E)  leader

Question 2

Which of the following would usually be considered a weakness in a SWOT analysis?

Accepted Answer

A)  A small bank account 
B)  A large base of satisfied customers 
C)  A strong competitor 
D)  Increased government regulation 
E)  An economy that was turning down 
A)  A small bank account 
B)  A large base of satisfied customers 
C)  A strong competitor 
D)  Increased government regulation 
E)  An economy that was turning down

Question 3

The ability to type, to create a spreadsheet, or to write a computer program are examples of which basic management skill?

Accepted Answer

A)  Decision making 
B)  Conceptual 
C)  Human relations 
D)  Time-management 
E)  Technical 
A)  Decision making 
B)  Conceptual 
C)  Human relations 
D)  Time-management 
E)  Technical

Question 4

Common titles for top managers include president, vice-president, treasurer, chief executive officer, and chief financial officer.

Accepted Answer

A) True 
 B)False

Question 5

Ben is coordinating his work with that of Charlie, who is not in the same vertical chain of command that Ben is. When doing this coordinating, Ben is playing the role of "liaison."

Accepted Answer

A) True 
 B)False

Question 6

List the four leading causes of wasted time in the workplace.

Accepted Answer

Paperwork,

Question 7

Strategic goals are

Accepted Answer

A)  derived directly from the mission statement. 
B)  derived directly from tactical plans. 
C)  derived directly from operational plans. 
D)  the product of input from all customers. 
E)  the product of input from all employees. 
A)  derived directly from the mission statement. 
B)  derived directly from tactical plans. 
C)  derived directly from operational plans. 
D)  the product of input from all customers. 
E)  the product of input from all employees.

Question 8

Controlling involves

Accepted Answer

A)  monitoring expenses and revenues to ensure that the company is profitable. 
B)  reviewing data to ensure that employees are doing what they are supposed to do. 
C)  reviewing all financial and productivity data to ensure that the company is achieving its goals. 
D)  monitoring the firm's performance and acting to bring it in line with the firm's goals. 
E)  ensuring that all policies and procedures are followed within a company. 
A)  monitoring expenses and revenues to ensure that the company is profitable. 
B)  reviewing data to ensure that employees are doing what they are supposed to do. 
C)  reviewing all financial and productivity data to ensure that the company is achieving its goals. 
D)  monitoring the firm's performance and acting to bring it in line with the firm's goals. 
E)  ensuring that all policies and procedures are followed within a company.

Question 9

Both Rolex and Timex want to sell watches at a profit. They share a common

Accepted Answer

A)  purpose. 
B)  corporate performance target. 
C)  mission. 
D)  long-term goal. 
E)  strategic goal. 
A)  purpose. 
B)  corporate performance target. 
C)  mission. 
D)  long-term goal. 
E)  strategic goal.

Question 10

What is escalation of commitment?

Accepted Answer

Remaining committed to a decis

Question 11

Strategy formulation involves, in order,

Accepted Answer

A)  (1) creating a mission statement, (2) analyzing the organization and its environment, and (3) setting strategic goals. 
B)  (1) creating a mission statement, (2) setting strategic goals, and (3) analyzing the organization and its environment. 
C)  (1) setting strategic goals, (2) analyzing the organization and its environment, and (3) matching the organization and its environment. 
D)  (1) setting strategic goals, (2) analyzing the organization and its environment, and (3) creating a mission statement. 
E)  (1) analyzing the organization and its environment, (2) matching the organization and its environment, and (3) setting strategic goals. 
A)  (1) creating a mission statement, (2) analyzing the organization and its environment, and (3) setting strategic goals. 
B)  (1) creating a mission statement, (2) setting strategic goals, and (3) analyzing the organization and its environment. 
C)  (1) setting strategic goals, (2) analyzing the organization and its environment, and (3) matching the organization and its environment. 
D)  (1) setting strategic goals, (2) analyzing the organization and its environment, and (3) creating a mission statement. 
E)  (1) analyzing the organization and its environment, (2) matching the organization and its environment, and (3) setting strategic goals.

Question 12

In a SWOT analysis, strengths and weaknesses are factors external to the firm that must be considered.

Accepted Answer

A) True 
 B)False

Question 13

Jim wants to apply the rational decision-making process to a management problem he is facing. He has already recognized and defined the decision-making situation. What should he do next?

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 14

An example of a business that must follow a differentiation strategy is

Accepted Answer

A)  a fashion designer. 
B)  a resource-industry business. 
C)  an aluminum siding installer. 
D)  a discount retailer. 
E)  a local trucking company. 
A)  a fashion designer. 
B)  a resource-industry business. 
C)  an aluminum siding installer. 
D)  a discount retailer. 
E)  a local trucking company.

Question 15

An organizational analysis involves looking for ________, while an environmental analysis involves looking for ________.

Accepted Answer

A)  threats; opportunities 
B)  opportunities; threats 
C)  strengths and weaknesses; threats and opportunities 
D)  threats and opportunities; strengths and weaknesses 
E)  strengths and weaknesses; competitors 
A)  threats; opportunities 
B)  opportunities; threats 
C)  strengths and weaknesses; threats and opportunities 
D)  threats and opportunities; strengths and weaknesses 
E)  strengths and weaknesses; competitors

Question 16

Just as every individual has a unique personality, every company has a unique corporate culture.

Accepted Answer

A) True 
 B)False

Question 17

What are the four management functions that all managers must perform?

Accepted Answer

Planning,

Question 18

Which of the following would typically be considered an opportunity?

Accepted Answer

A)  An improving economy 
B)  Quick-paying customers 
C)  High unemployment 
D)  Decreased demand from foreign countries 
E)  A large base of satisfied customers 
A)  An improving economy 
B)  Quick-paying customers 
C)  High unemployment 
D)  Decreased demand from foreign countries 
E)  A large base of satisfied customers

Question 19

A study by Google found that technical expertise ranked last among a list of eight "Habits of Highly Effective Google Managers." What was at the top of the list?

Accepted Answer

A)  Bosses who had a strong concern for social responsibility and ethics. 
B)  Bosses who completed their work in a timely fashion. 
C)  Bosses who did what they promised. 
D)  Bosses who were even-tempered, who made time for one-on-one meetings, and who helped subordinates work through problems. 
E)  Bosses who protected their employees from harassment by managers in other divisions. 
A)  Bosses who had a strong concern for social responsibility and ethics. 
B)  Bosses who completed their work in a timely fashion. 
C)  Bosses who did what they promised. 
D)  Bosses who were even-tempered, who made time for one-on-one meetings, and who helped subordinates work through problems. 
E)  Bosses who protected their employees from harassment by managers in other divisions.

Question 20

Amy Madison has been tracking product sales for McCoy Industries. She notices that sales of surgical supplies have fallen off in the past six months and she is considering strategies to reverse this trend. This is an example of the ________ management function.

Accepted Answer

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

When a manager responds to a strike at a supplier, the manager is acting in the ________ role.

Which of the following would usually be considered a weakness in a SWOT analysis?

The ability to type, to create a spreadsheet, or to write a computer program are examples of which basic management skill?

Common titles for top managers include president, vice-president, treasurer, chief executive officer, and chief financial officer.

Ben is coordinating his work with that of Charlie, who is not in the same vertical chain of command that Ben is. When doing this coordinating, Ben is playing the role of "liaison."

List the four leading causes of wasted time in the workplace.

Strategic goals are

Controlling involves

Both Rolex and Timex want to sell watches at a profit. They share a common

What is escalation of commitment?

Strategy formulation involves, in order,

In a SWOT analysis, strengths and weaknesses are factors external to the firm that must be considered.

Jim wants to apply the rational decision-making process to a management problem he is facing. He has already recognized and defined the decision-making situation. What should he do next?

An example of a business that must follow a differentiation strategy is

An organizational analysis involves looking for , while an environmental analysis involves looking for .

Just as every individual has a unique personality, every company has a unique corporate culture.

What are the four management functions that all managers must perform?

Which of the following would typically be considered an opportunity?

A study by Google found that technical expertise ranked last among a list of eight "Habits of Highly Effective Google Managers." What was at the top of the list?

Amy Madison has been tracking product sales for McCoy Industries. She notices that sales of surgical supplies have fallen off in the past six months and she is considering strategies to reverse this trend. This is an example of the ________ management function.

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

When a manager responds to a strike at a supplier, the manager is acting in the ________ role.

Which of the following would usually be considered a weakness in a SWOT analysis?

The ability to type, to create a spreadsheet, or to write a computer program are examples of which basic management skill?

Common titles for top managers include president, vice-president, treasurer, chief executive officer, and chief financial officer.

Ben is coordinating his work with that of Charlie, who is not in the same vertical chain of command that Ben is. When doing this coordinating, Ben is playing the role of "liaison."

List the four leading causes of wasted time in the workplace.

Strategic goals are

Controlling involves

Both Rolex and Timex want to sell watches at a profit. They share a common

What is escalation of commitment?

Strategy formulation involves, in order,

In a SWOT analysis, strengths and weaknesses are factors external to the firm that must be considered.

Jim wants to apply the rational decision-making process to a management problem he is facing. He has already recognized and defined the decision-making situation. What should he do next?

An example of a business that must follow a differentiation strategy is

An organizational analysis involves looking for ________, while an environmental analysis involves looking for ________.

Just as every individual has a unique personality, every company has a unique corporate culture.

What are the four management functions that all managers must perform?

Which of the following would typically be considered an opportunity?

A study by Google found that technical expertise ranked last among a list of eight "Habits of Highly Effective Google Managers." What was at the top of the list?

Amy Madison has been tracking product sales for McCoy Industries. She notices that sales of surgical supplies have fallen off in the past six months and she is considering strategies to reverse this trend. This is an example of the ________ management function.

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

An organizational analysis involves looking for , while an environmental analysis involves looking for .