Question 1

A leader's most important job may be to transform the way the company does business so that it's more effective and efficient.

Accepted Answer

A) True 
 B)False

Question 2

Well-known retired basketball coach Bob Knight was known for his emotional antics at Indiana University and Texas Tech. If you talk with Bob, he believes in total dedication from his team and total compliance to his style of coaching. It's "his way or the highway." Bob typifies the ________ style of leader.

Accepted Answer

A)  bureaucratic 
B)  free-rein 
C)  remanded 
D)  autocratic 
A)  bureaucratic 
B)  free-rein 
C)  remanded 
D)  autocratic

Question 3

Today, a mission statement should also address social responsibility.

Accepted Answer

A) True 
 B)False

Question 4

Supervisory managers usually work more with ideas than with people.

Accepted Answer

A) True 
 B)False

Question 5

A modern manager's main job is to issue orders, then follow up to make sure employees do as they were told.

Accepted Answer

A) True 
 B)False

Question 6

Top management is also known as first-line management because it deals with key managerial decisions on a priority basis.

Accepted Answer

A) True 
 B)False

Question 7

One example of tactical planning is setting annual budgets and deciding on other details and activities necessary to meet the strategic objectives.

Accepted Answer

A) True 
 B)False

Question 8

As firms make greater use of empowerment and teams, managers will find that they

Accepted Answer

A)  should use the same techniques for directing employees that were used in the past. 
B)  will need to closely supervise the teams to make sure they remain focused on the goals of the organization. 
C)  will need to provide the teams with detailed instructions to give them a clear sense of direction. 
D)  must become more like coaches and counselors than bosses. 
A)  should use the same techniques for directing employees that were used in the past. 
B)  will need to closely supervise the teams to make sure they remain focused on the goals of the organization. 
C)  will need to provide the teams with detailed instructions to give them a clear sense of direction. 
D)  must become more like coaches and counselors than bosses.

Question 9

Which of the following activities is part of the planning function of management?

Accepted Answer

A)  Assigning a particular worker to do a specific task 
B)  Looking at market forecasts to identify future business opportunities and challenges 
C)  Praising a sales representative who has far exceeded her monthly sales objectives 
D)  Conducting a job interview with a potential new employee 
A)  Assigning a particular worker to do a specific task 
B)  Looking at market forecasts to identify future business opportunities and challenges 
C)  Praising a sales representative who has far exceeded her monthly sales objectives 
D)  Conducting a job interview with a potential new employee

Question 10

Setting contingency plans in an organization is considered very important today mainly because

Accepted Answer

A)  managers have historically been poor tactical planners. 
B)  the government can charge firms with unfair business practices if they do not have such plans. 
C)  conditions change rapidly in today's economic and competitive environments. 
D)  most employees and staff don't understand strategic planning, so they tend to rely more on contingency plans. 
A)  managers have historically been poor tactical planners. 
B)  the government can charge firms with unfair business practices if they do not have such plans. 
C)  conditions change rapidly in today's economic and competitive environments. 
D)  most employees and staff don't understand strategic planning, so they tend to rely more on contingency plans.

Question 11

A chief operating officer (COO) would be classified as part of a firm's

Accepted Answer

A)  primary management. 
B)  middle management. 
C)  top management. 
D)  first-line management. 
A)  primary management. 
B)  middle management. 
C)  top management. 
D)  first-line management.

Question 12

Because economic and competitive environments frequently change, organizations should

Accepted Answer

A)  set a long-term plan and stick to it. 
B)  develop contingency plans. 
C)  save time and money by cutting back on planning. 
D)  eliminate any long-term strategic plans, but devise short-term tactical plans and update them once a year. 
A)  set a long-term plan and stick to it. 
B)  develop contingency plans. 
C)  save time and money by cutting back on planning. 
D)  eliminate any long-term strategic plans, but devise short-term tactical plans and update them once a year.

Question 13

Lauzy seems to prefer a(n) ________ style of leadership.

Accepted Answer

A)  autocratic 
B)  participative 
C)  PMI 
D)  altruistic 
A)  autocratic 
B)  participative 
C)  PMI 
D)  altruistic

Question 14

The four key management functions are planning, organizing, leading, and controlling.

Accepted Answer

A) True 
 B)False

Question 15

Lauzy's decision to establish well-defined standards for monitoring performance means that he expects management to seriously engage in the ________ function of management.

Accepted Answer

A)  research and development 
B)  verbalizing 
C)  organizing 
D)  controlling 
A)  research and development 
B)  verbalizing 
C)  organizing 
D)  controlling

Question 16

________ involves setting the organization's vision, goals, and objectives.

Accepted Answer

A)  Organizing 
B)  Planning 
C)  Controlling 
D)  Directing 
A)  Organizing 
B)  Planning 
C)  Controlling 
D)  Directing

Question 17

The first step in controlling consists of

Accepted Answer

A)  issuing orders and explaining routines. 
B)  setting clear performance standards. 
C)  establishing a clear chain of command. 
D)  assigning workers to perform specific tasks. 
A)  issuing orders and explaining routines. 
B)  setting clear performance standards. 
C)  establishing a clear chain of command. 
D)  assigning workers to perform specific tasks.

Question 18

The SWOT analysis helps firms identify competitive threats and market opportunities.

Accepted Answer

A) True 
 B)False

Question 19

________ skills include the ability to perform tasks of a specific department or job, such as selling (marketing) or bookkeeping (accounting).

Accepted Answer

A)  Conceptual 
B)  Departmental 
C)  Technical 
D)  Tactical 
A)  Conceptual 
B)  Departmental 
C)  Technical 
D)  Tactical

Question 20

Dax has been promoted to a first-line manager. Dax's new position will require him to spend a lot of time

Accepted Answer

A)  developing strategic plans. 
B)  evaluating the daily performance of workers. 
C)  creating a vision for the company. 
D)  providing information to stakeholders. 
A)  developing strategic plans. 
B)  evaluating the daily performance of workers. 
C)  creating a vision for the company. 
D)  providing information to stakeholders.

Exam 7: Management and Leadership

A leader's most important job may be to transform the way the company does business so that it's more effective and efficient.

Today, a mission statement should also address social responsibility.

Supervisory managers usually work more with ideas than with people.

A modern manager's main job is to issue orders, then follow up to make sure employees do as they were told.

Top management is also known as first-line management because it deals with key managerial decisions on a priority basis.

One example of tactical planning is setting annual budgets and deciding on other details and activities necessary to meet the strategic objectives.

As firms make greater use of empowerment and teams, managers will find that they

Which of the following activities is part of the planning function of management?

Setting contingency plans in an organization is considered very important today mainly because

A chief operating officer (COO) would be classified as part of a firm's

Because economic and competitive environments frequently change, organizations should

Lauzy seems to prefer a(n) ________ style of leadership.

The four key management functions are planning, organizing, leading, and controlling.

Lauzy's decision to establish well-defined standards for monitoring performance means that he expects management to seriously engage in the ________ function of management.

________ involves setting the organization's vision, goals, and objectives.

The first step in controlling consists of

The SWOT analysis helps firms identify competitive threats and market opportunities.

________ skills include the ability to perform tasks of a specific department or job, such as selling (marketing) or bookkeeping (accounting).

Dax has been promoted to a first-line manager. Dax's new position will require him to spend a lot of time

Taking Risks and Making Profits Within the Dynamic Business Environment

Understanding Economics and How It Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

How to Form a Business

Entrepreneurship and Starting a Small Business

Structuring Organizations for Todays Challenges

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Employeemanagement Issues

Marketing: Helping Buyers Buy

Developing and Pricing Goods and Services

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money, Financial Institutions, and the Federal Reserve

Appendix: Working Within the Legal Environment

Appendix: Using Technology to Manage Information

Appendix: Managing Risk

Appendix: Managing Personal Finances

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