Question 1

CFO and controller are titles associated with what type of manager?

Accepted Answer

A)  financial 
B)  information 
C)  human resource 
D)  marketing 
E)  operations 
A)  financial 
B)  information 
C)  human resource 
D)  marketing 
E)  operations

Question 2

When the finance department aims for a 3 percent increase in return on investment in three years, what type of goal is the organization setting?

Accepted Answer

A)  a long-term goal 
B)  a tactical goal 
C)  a short-term goal 
D)  an intermediate goal 
E)  an organizational goal 
A)  a long-term goal 
B)  a tactical goal 
C)  a short-term goal 
D)  an intermediate goal 
E)  an organizational goal

Question 3

Which of the following refers to a person's ability to think in the abstract, to diagnose and analyze different situations, and to see beyond the present situation?

Accepted Answer

A)  human relations skills 
B)  decision-making skills 
C)  conceptual skills 
D)  production skills 
E)  technical skills 
A)  human relations skills 
B)  decision-making skills 
C)  conceptual skills 
D)  production skills 
E)  technical skills

Question 4

Marty uses computer forecasts to determine possible outcomes of an intended change in his division. What element of management is Marty utilizing?

Accepted Answer

A)  strategy formulation 
B)  goal setting 
C)  crisis management 
D)  contingency planning 
E)  related diversification 
A)  strategy formulation 
B)  goal setting 
C)  crisis management 
D)  contingency planning 
E)  related diversification

Question 5

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 6

Increasing sales by 4 percent in the next eight months is an example of what kind of goal?

Accepted Answer

A)  tactical 
B)  strategic 
C)  short-term 
D)  intermediate 
E)  long-term 
A)  tactical 
B)  strategic 
C)  short-term 
D)  intermediate 
E)  long-term

Question 7

The titles supervisor, office manager, and group leader are examples of which level of management?

Accepted Answer

A)  top management 
B)  middle management 
C)  first-line management 
D)  operations management 
E)  human resource management 
A)  top management 
B)  middle management 
C)  first-line management 
D)  operations management 
E)  human resource management

Question 8

Which of the following is True about corporate culture?

Accepted Answer

A)  It can direct employees' efforts toward goals. 
B)  It is usually determined by outside forces. 
C)  It cannot be changed. 
D)  It is easy to change. 
E)  It rarely affects newcomers in an organization. 
A)  It can direct employees' efforts toward goals. 
B)  It is usually determined by outside forces. 
C)  It cannot be changed. 
D)  It is easy to change. 
E)  It rarely affects newcomers in an organization.

Question 9

Operations managers are responsible for production, inventory, and quality control.

Accepted Answer

A) True 
 B)False

Question 10

Which level of management is responsible for the overall performance and effectiveness of the firm?

Accepted Answer

A)  top managers 
B)  first-line managers 
C)  middle managers 
D)  supervisory managers 
E)  human resource managers 
A)  top managers 
B)  first-line managers 
C)  middle managers 
D)  supervisory managers 
E)  human resource managers

Question 11

What is SWOT analysis?

Accepted Answer

After strategic goals have been set, org

Question 12

How might an effective manager choose the best plan of action when making a decision?

Accepted Answer

A)  making a self-generated list of pros and cons and choosing based on the list 
B)  using the results of a survey that was sent to key customers who will be affected 
C)  sending a feedback form to customers after the plan has been executed 
D)  creating only one plan with no alternatives so it has to work 
E)  reviewing what other managers have done in the same situation and doing the same 
A)  making a self-generated list of pros and cons and choosing based on the list 
B)  using the results of a survey that was sent to key customers who will be affected 
C)  sending a feedback form to customers after the plan has been executed 
D)  creating only one plan with no alternatives so it has to work 
E)  reviewing what other managers have done in the same situation and doing the same

Question 13

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

Accepted Answer

A)  organizing 
B)  planning 
C)  controlling 
D)  processing 
E)  monitoring 
A)  organizing 
B)  planning 
C)  controlling 
D)  processing 
E)  monitoring

Question 14

Business strategy focuses on improving the company's competitive position.

Accepted Answer

A) True 
 B)False

Question 15

The marketing manager wants to increase regional sales by 2 percent each quarter over the next year. This is an example of what kind of goal?

Accepted Answer

A)  long-term 
B)  intermediate 
C)  short-term 
D)  strategic 
E)  tactical 
A)  long-term 
B)  intermediate 
C)  short-term 
D)  strategic 
E)  tactical

Question 16

Sometimes a corporation buys and operates multiple businesses in compatible industries as part of its corporate strategy. This is an example of what type of strategy?

Accepted Answer

A)  customer-driven diversification 
B)  unrelated diversification 
C)  e-partnering 
D)  strategic diversification 
E)  complex collaborations 
A)  customer-driven diversification 
B)  unrelated diversification 
C)  e-partnering 
D)  strategic diversification 
E)  complex collaborations

Question 17

Which of the following best describes business strategy?

Accepted Answer

A)  a strategy for determining the firm's overall attitude toward growth and the way it will manage its businesses or product lines 
B)  a strategy at the business-unit or product-line level that focuses on improving a firm's competitive position 
C)  a strategy by which managers in specific areas decide how best to achieve corporate goals through productivity 
D)  a strategy that assists first-line managers in making day-to-day decisions about motivating employees 
E)  a strategy that integrates an organization's marketing goals into a cohesive whole by focusing on the ideal product mix to achieve maximum profit potential 
A)  a strategy for determining the firm's overall attitude toward growth and the way it will manage its businesses or product lines 
B)  a strategy at the business-unit or product-line level that focuses on improving a firm's competitive position 
C)  a strategy by which managers in specific areas decide how best to achieve corporate goals through productivity 
D)  a strategy that assists first-line managers in making day-to-day decisions about motivating employees 
E)  a strategy that integrates an organization's marketing goals into a cohesive whole by focusing on the ideal product mix to achieve maximum profit potential

Question 18

What are the basic steps in decision making?

Accepted Answer

The basic steps are to gather facts, ide

Question 19

The last step in the decision-making process is the selection of the best alternative.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is NOT a characteristic of a solid contingency plan?

Accepted Answer

A)  contact information for an on-site crisis manager 
B)  information systems backup software 
C)  an evacuation plan 
D)  a prioritized list of critical operations 
E)  a summary of common types of emergencies 
A)  contact information for an on-site crisis manager 
B)  information systems backup software 
C)  an evacuation plan 
D)  a prioritized list of critical operations 
E)  a summary of common types of emergencies

CFO and controller are titles associated with what type of manager?

When the finance department aims for a 3 percent increase in return on investment in three years, what type of goal is the organization setting?

Which of the following refers to a person's ability to think in the abstract, to diagnose and analyze different situations, and to see beyond the present situation?

Marty uses computer forecasts to determine possible outcomes of an intended change in his division. What element of management is Marty utilizing?

Which of the following is most similar to the reasoning employed by the Product Director?

Increasing sales by 4 percent in the next eight months is an example of what kind of goal?

The titles supervisor, office manager, and group leader are examples of which level of management?

Which of the following is True about corporate culture?

Operations managers are responsible for production, inventory, and quality control.

Which level of management is responsible for the overall performance and effectiveness of the firm?

What is SWOT analysis?

How might an effective manager choose the best plan of action when making a decision?

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

Business strategy focuses on improving the company's competitive position.

The marketing manager wants to increase regional sales by 2 percent each quarter over the next year. This is an example of what kind of goal?

Sometimes a corporation buys and operates multiple businesses in compatible industries as part of its corporate strategy. This is an example of what type of strategy?

Which of the following best describes business strategy?

What are the basic steps in decision making?

The last step in the decision-making process is the selection of the best alternative.

Which of the following is NOT a characteristic of a solid contingency plan?

The Us Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

The Global Context of Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

Information Technology for Business

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters

Exam 5: Business Management

CFO and controller are titles associated with what type of manager?

When the finance department aims for a 3 percent increase in return on investment in three years, what type of goal is the organization setting?

Which of the following refers to a person's ability to think in the abstract, to diagnose and analyze different situations, and to see beyond the present situation?

Marty uses computer forecasts to determine possible outcomes of an intended change in his division. What element of management is Marty utilizing?

Which of the following is most similar to the reasoning employed by the Product Director?

Increasing sales by 4 percent in the next eight months is an example of what kind of goal?

The titles supervisor, office manager, and group leader are examples of which level of management?

Which of the following is True about corporate culture?

Operations managers are responsible for production, inventory, and quality control.

Which level of management is responsible for the overall performance and effectiveness of the firm?

What is SWOT analysis?

How might an effective manager choose the best plan of action when making a decision?

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

Business strategy focuses on improving the company's competitive position.

The marketing manager wants to increase regional sales by 2 percent each quarter over the next year. This is an example of what kind of goal?

Sometimes a corporation buys and operates multiple businesses in compatible industries as part of its corporate strategy. This is an example of what type of strategy?

Which of the following best describes business strategy?

What are the basic steps in decision making?

The last step in the decision-making process is the selection of the best alternative.

Which of the following is NOT a characteristic of a solid contingency plan?

The Us Business Environment

Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

The Global Context of Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Pricing, Distributing, and Promoting Products

Information Technology for Business

The Role of Accountants and Accounting Information

Money and Banking

Managing Finances

Filters