Exam 1: Managers and Entrepreneurs

Big Wheel Bikes, Inc. Kaily Bach was recently promoted to the managing director's position at Big Wheel Bikes, Inc. Kaily was told by her boss that she received the promotion because he believed she had the management skills necessary to help the company become more efficient and effective. During her first week, Kaily first compared the actual revenues and expenses of the company with desired results. She also met with employees to get their feedback and suggestions. Armed with this information, she formulated the future course of action for Big Wheel Bikes. One of her short-term goals is to provide the employees of Big Wheel Bikes with flexible working schedules. Another short-term goal is to create business lunches, in which groups of five employees meet over lunch to discuss organizational objectives. Kaily is confident she can lead the company into a prosperous future. -Refer to Big Wheel Bikes, Inc. Kaily's formulation of a future course of action for Big Wheel Bikes is an example of the ____________management function.

What were the results of the Honeywell study regarding how managers learn to manage? What do these results say about the relative importance of formal management education?

More than 4,000 employees surveyed indicated that ______________ was the most common ethical problem in the workplace.

Lexie, a sales representative for GreenWares Company, failed to achieve her sales quota last year but was praised by her manager for reducing her expense account by 25 percent. Lexie was

In the design-it-in approach, continuous improvement of personnel, processes, and product is emphasized.

Recognizing that communication is a two-way process, managers should be responsive to feedback and upward communication.

Organizations that waste resources are efficient but not effective.

In the year 2020, less than 40 percent of the world's population will live in relatively poor and less-developed countries.

Collective action is always required for organizational objectives or goals.

____ are closely associated with Total Quality Management.

Annie is having difficulty as a manager because she is hampered by a problem identified in the derailed managers study. Annie's problem may be that she

Small businesses can be best described as ____, in relation to the economy.

The ____ approach to product quality involves making everyone in the organization responsible for identifying and correcting product defects, as well as identifying and eliminating causes of quality problems.

What is the key for true economic progress for individuals and organizations?

____ is commonly referred to as the primary management function.

According to research, interruptions are what the work of top managers is all about, and actually constitute a valuable resource.

Apple, Dell, Seagate and other U.S. companies have been criticized for ___________________, because they have reduced the number of manufacturing jobs in America.

Entrepreneurs are preoccupied with ____ rather than ____.

When calculating efficiency, the amount of resources used is irrelevant.

____ is not a key component in the definition of management.