Exam 7: Management and Leadership

Managers must lead by doing, not just by saying.

When all is said and done, financial standards such as profit and return on investment are the only relevant measures of how well a firm is meeting its goals.

Autocratic leadership is most effective with workers who like to work independently and make their own decisions.

Customers at any RefurbRite Repair Center see a framed statement prominently displayed near the front door. The plaque describes the company's fundamental purposes. In part, it states that "All RefurbRite Repair Centers operate under the belief that every customer deserves good quality parts, fast and dependable service, and a fair price." The words on this plaque reflect the ________ of RefurbRite.

________ involves recruiting, hiring, motivating, and retaining the best people available to accomplish the company's objectives.

Instead of creating detailed strategic plans, the leaders of market-based companies (companies that respond quickly to environmental changes) set flexible directions so as to allow for change and seize opportunities when they come.

If managers do a good job planning and organizing, there shouldn't be a need for them to be involved with controlling.

________ is the management function that involves determining whether an organization is progressing toward its goals, rewarding employees for doing a good job, and taking corrective action when they are not.

As a sales rep for an eyewear company, Gemma, frequently relies on the marketing department for information and materials. When using customer satisfaction to judge the success of their company, Gemma's managers should

Managers or teams of managers at the lower levels of an organization normally develop strategic plans, but top managers do most of the tactical planning.

Employees often work with managers to develop a(n) ________ that outlines the fundamental purposes of their organization.

Will is a manager for a major manufacturing corporation. He strives to maintain a free-rein approach to leadership in most situations. However, the company recently lost a major contract that it needs to continue the current level of operation. Management needs to take quick action to adjust, including slashing expenses. Under these conditions, Will should maintain his free-rein style of leadership.

The last step in the rational decision-making model is to determine whether the decision was a good one and follow up.

Rodrigo has worked for Three Brothers Construction for over 10 years and was recently was promoted to the position of foreman. He is directly responsible for assigning various jobs to his work crew and evaluating their performance on a daily basis. Rodrigo is now a member of

Margot needed to solve a problem fast! She called together her department team and asked them to list as many possible solutions as they could come up with in a short period of time. During the process she encouraged responses and avoided censoring what her workers said. Margot is utilizing a problem-solving technique known as brainstorming.

Management is more progressive today. There is more emphasis on

When we think of successful music entertainment groups of the past 60 years, the Beatles almost always appear in the top 5! In the early days, the entertainment group's life cycle could have ended as so many other rock groups do-here today, gone tomorrow. The four musicians were definitely creative and passionate about their craft and genre of music. As the informal leader of the group, John Lennon ________ the others to make important compositional contributions. All four members had the opportunity to create musical compositions and receive copyright credit for their contributions.

A mission statement outlines the fundamental purposes of an organization.

Research has shown that employee participation in decision making improves job satisfaction.

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