Question 1

Which of the following BEST describes functional 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 2

When conducting a SWOT analysis of an organization,which question can help management brainstorm for the weaknesses section of the analysis?

Accepted Answer

A)  What external changes present interesting possibilities? 
B)  What aspect of the organization's vision can be altered? 
C)  What necessary skills do the organization's employees currently lack? 
D)  What does the organization offer that makes it stand out from other organizations? 
E)  What external economic forces can affect the organization's bottom line? 
A)  What external changes present interesting possibilities? 
B)  What aspect of the organization's vision can be altered? 
C)  What necessary skills do the organization's employees currently lack? 
D)  What does the organization offer that makes it stand out from other organizations? 
E)  What external economic forces can affect the organization's bottom line?

Question 3

Changes in technology will result in a decrease in the amount of information that managers will use to make decisions.

Accepted Answer

A) True 
 B)False

Question 4

The managerial role characterized by the ability to gather and disseminate communications and areas of interest is referred to as

Accepted Answer

A)  interpersonal. 
B)  resource allocator. 
C)  decisional. 
D)  disturbance handler. 
E)  informational. 
A)  interpersonal. 
B)  resource allocator. 
C)  decisional. 
D)  disturbance handler. 
E)  informational.

Question 5

When a sales manager compares actual sales to the quarterly sales quota,he or she is performing the controlling function of management.

Accepted Answer

A) True 
 B)False

Question 6

How does a new employee learn acceptable behaviors within the organization?

Accepted Answer

A)  Quality standards 
B)  Crisis management strategies 
C)  Contingency plans 
D)  Operational plans 
E)  Cultural norms 
A)  Quality standards 
B)  Crisis management strategies 
C)  Contingency plans 
D)  Operational plans 
E)  Cultural norms

Question 7

The effectiveness of managers in using time can be undermined by frequent phone calls.

Accepted Answer

A) True 
 B)False

Question 8

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 9

One outcome of using conceptual skills is being able to select the best alternative.

Accepted Answer

A) True 
 B)False

Question 10

Effective crisis management involves having a contingency plan for emergencies.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is the BEST example of unrelated diversification?

Accepted Answer

A)  Ford Motor Company merging with General Motors 
B)  Northwest Airlines merging with Procter & Gamble 
C)  McDonald's merging with Burger King 
D)  Tootsie Roll merging with Hershey 
E)  Bath and Body Works merging with The Body Store 
A)  Ford Motor Company merging with General Motors 
B)  Northwest Airlines merging with Procter & Gamble 
C)  McDonald's merging with Burger King 
D)  Tootsie Roll merging with Hershey 
E)  Bath and Body Works merging with The Body Store

Question 12

Discuss the three broad levels of strategy that organizations may implement.

Accepted Answer

Organizations may set corporate,business

Question 13

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Accepted Answer

A) True 
 B)False

Question 14

Long-term goals are derived directly from a firm's mission statement.

Accepted Answer

A) True 
 B)False

Question 15

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 16

Goal setting helps managers assess performance.

Accepted Answer

A) True 
 B)False

Question 17

Identify the four leading causes of wasted time in the workplace as outlined in the text.

Accepted Answer

The four leading causes of was

Question 18

What type of skills are needed to understand and work well with people in the workplace?

Accepted Answer

A)  Human relations skills 
B)  Technical skills 
C)  Conceptual skills 
D)  Motor skills 
E)  Decision-making skills 
A)  Human relations skills 
B)  Technical skills 
C)  Conceptual skills 
D)  Motor skills 
E)  Decision-making skills

Question 19

Information managers are responsible for getting products from producers to consumers.

Accepted Answer

A) True 
 B)False

Question 20

Comparing actual performance against standards is an example of which function of the management process?

Accepted Answer

A)  Planning 
B)  Organizing 
C)  Leading 
D)  Controlling 
E)  Strategizing 
A)  Planning 
B)  Organizing 
C)  Leading 
D)  Controlling 
E)  Strategizing

Which of the following BEST describes functional strategy?

When conducting a SWOT analysis of an organization,which question can help management brainstorm for the weaknesses section of the analysis?

Changes in technology will result in a decrease in the amount of information that managers will use to make decisions.

The managerial role characterized by the ability to gather and disseminate communications and areas of interest is referred to as

When a sales manager compares actual sales to the quarterly sales quota,he or she is performing the controlling function of management.

How does a new employee learn acceptable behaviors within the organization?

The effectiveness of managers in using time can be undermined by frequent phone calls.

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

One outcome of using conceptual skills is being able to select the best alternative.

Effective crisis management involves having a contingency plan for emergencies.

Which of the following is the BEST example of unrelated diversification?

Discuss the three broad levels of strategy that organizations may implement.

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Long-term goals are derived directly from a firm's mission statement.

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?

Goal setting helps managers assess performance.

Identify the four leading causes of wasted time in the workplace as outlined in the text.

What type of skills are needed to understand and work well with people in the workplace?

Information managers are responsible for getting products from producers to consumers.

Comparing actual performance against standards is an example of which function of the management process?

The US Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding 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

Developing and Pricing Products

Distributing and Promoting Products

Information Technology Itfor Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 5: Managing the Business

Which of the following BEST describes functional strategy?

When conducting a SWOT analysis of an organization,which question can help management brainstorm for the weaknesses section of the analysis?

Changes in technology will result in a decrease in the amount of information that managers will use to make decisions.

The managerial role characterized by the ability to gather and disseminate communications and areas of interest is referred to as

When a sales manager compares actual sales to the quarterly sales quota,he or she is performing the controlling function of management.

How does a new employee learn acceptable behaviors within the organization?

The effectiveness of managers in using time can be undermined by frequent phone calls.

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

One outcome of using conceptual skills is being able to select the best alternative.

Effective crisis management involves having a contingency plan for emergencies.

Which of the following is the BEST example of unrelated diversification?

Discuss the three broad levels of strategy that organizations may implement.

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Long-term goals are derived directly from a firm's mission statement.

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?

Goal setting helps managers assess performance.

Identify the four leading causes of wasted time in the workplace as outlined in the text.

What type of skills are needed to understand and work well with people in the workplace?

Information managers are responsible for getting products from producers to consumers.

Comparing actual performance against standards is an example of which function of the management process?

The US Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding 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

Developing and Pricing Products

Distributing and Promoting Products

Information Technology Itfor Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters