Question 1

Which of the following is a tactical goal?

Accepted Answer

A) By the end of this fiscal year,we will achieve a 10% cost reduction in our office expenses. 
B) Within two years,we will enter into a strategic alliance with a company that is able to effectively market and sell our products in China,India,and other emerging economies. 
C) This company has a policy of conducting a background and credit check on all job applicants. 
D) Smoking on the factory floor is strictly prohibited;anyone caught smoking in company facilities will be disciplined immediately. 
E) As a company,we are committed to increasing our online presence through social media. 
A) By the end of this fiscal year,we will achieve a 10% cost reduction in our office expenses. 
B) Within two years,we will enter into a strategic alliance with a company that is able to effectively market and sell our products in China,India,and other emerging economies. 
C) This company has a policy of conducting a background and credit check on all job applicants. 
D) Smoking on the factory floor is strictly prohibited;anyone caught smoking in company facilities will be disciplined immediately. 
E) As a company,we are committed to increasing our online presence through social media.

Question 2

During a management meeting,Dave,the CEO of Top Office Equipment,reminded his management team of where the company wants to go as an organization: "Top Office Equipment is the expert whom customers should always call regarding all their office equipment needs because Top Office strives to understand customer needs and provide the right answers for them." This statement is Top Office Equipment's

Accepted Answer

A) belief statement. 
B) goals pact. 
C) code of ethics. 
D) management pledge. 
E) vision statement. 
A) belief statement. 
B) goals pact. 
C) code of ethics. 
D) management pledge. 
E) vision statement.

Question 3

Imagine that you are a manager of a local shoe store with the responsibility for four employees.Outline a detailed plan for how you would implement MBO to increase overall store revenue by 10% by the end of the year.

Accepted Answer

The four-step process of MBO is as follo

Question 4

______ is planning done by first-line managers to determine how to accomplish specific tasks with available resources within the next 1 to 52 weeks.

Accepted Answer

A) Writing a belief statement 
B) Developing a goals pact 
C) Producing a code of ethics 
D) Management pledging 
E) Operational planning 
A) Writing a belief statement 
B) Developing a goals pact 
C) Producing a code of ethics 
D) Management pledging 
E) Operational planning

Question 5

You have an idea for a company that sources fruits from local farms and makes fresh juices on a daily basis.You want to start a subscription-based service in which households within a 100-mile radius subscribe to your plan and receive two gallons of freshly squeezed juice (for example,cherry juice,apple juice,lemonade)twice a week.As you think about starting your business,you ask yourself: How rare is the service I am offering? How valuable is it? Can I organize the company to maximize my advantages in the marketplace? After asking these questions,review and identify which question from VRIO did you forget to ask?

Accepted Answer

A) Is the resource or capability valuable? 
B) Is the resource or capability currently controlled by only a few firms or no other firms? 
C) Is the firm organized to exploit the resource of capability? 
D) What values should be emphasized? 
E) Is the resource or capability costly for other firms to imitate? 
A) Is the resource or capability valuable? 
B) Is the resource or capability currently controlled by only a few firms or no other firms? 
C) Is the firm organized to exploit the resource of capability? 
D) What values should be emphasized? 
E) Is the resource or capability costly for other firms to imitate?

Question 6

Goals are arranged in a hierarchy known as a means-end chain because in the chain of management,the accomplishment of high-level goals is the means leading to the accomplishment of low-level goals or ends.

Accepted Answer

A) True 
 B)False

Question 7

The planning process begins with two attributes: a mission statement and a vision statement.What questions are answered with each of these?

Accepted Answer

A) What do we want to become?;What is our reason for being? 
B) What are the costs?;How much money can I make? 
C) What are the risks?;What is our reason for being? 
D) What do we want to become?;What products do we offer at a profit? 
E) What is our reason for being?;What do we want to become? 
A) What do we want to become?;What is our reason for being? 
B) What are the costs?;How much money can I make? 
C) What are the risks?;What is our reason for being? 
D) What do we want to become?;What products do we offer at a profit? 
E) What is our reason for being?;What do we want to become?

Question 8

In the planning/control cycle,managers take corrective action by correcting deviations in the plan being carried out or by improving future plans.

Accepted Answer

A) True 
 B)False

Question 9

Jerome's Italian Pizza is in a very competitive industry,and its upper management believes that it can achieve higher profits by focusing on a strategy of lowering costs and prices,providing quicker delivery,and providing good customer service."Increase profits by 15% a year for each of the next five years" is an example of a strategic goal.

Accepted Answer

A) True 
 B)False

Question 10

Steve,a hotel general manager,has had great success using MBO.Hannah,his district manager,has found that Steve's employees are highly motivated.Because Steve _________,Hannah is able to discern that he is using MBO.

Accepted Answer

A) has increased training 
B) rewards his employees with compliments,raises,and other benefits as they meet their goals 
C) is big on discipline 
D) gives few compliments,but is very honest with his employees 
E) uses the Outward Theory that proposes discussing issues in open meetings 
A) has increased training 
B) rewards his employees with compliments,raises,and other benefits as they meet their goals 
C) is big on discipline 
D) gives few compliments,but is very honest with his employees 
E) uses the Outward Theory that proposes discussing issues in open meetings

Which of the following is a tactical goal?

Imagine that you are a manager of a local shoe store with the responsibility for four employees.Outline a detailed plan for how you would implement MBO to increase overall store revenue by 10% by the end of the year.

______ is planning done by first-line managers to determine how to accomplish specific tasks with available resources within the next 1 to 52 weeks.

Goals are arranged in a hierarchy known as a means-end chain because in the chain of management,the accomplishment of high-level goals is the means leading to the accomplishment of low-level goals or ends.

The planning process begins with two attributes: a mission statement and a vision statement.What questions are answered with each of these?

In the planning/control cycle,managers take corrective action by correcting deviations in the plan being carried out or by improving future plans.

Steve,a hotel general manager,has had great success using MBO.Hannah,his district manager,has found that Steve's employees are highly motivated.Because Steve _________,Hannah is able to discern that he is using MBO.

The Exceptional Manager: What You Do How You Do It

Management Theory: Essential Background for the Successful Manager

The Managers Changing Work Environment and Ethical Responsibilities: Doing the Right Thing

Global Management: Managing Across Borders

Strategic Management: How Exceptional Managers Realize a Grand Design

Individual and Group Decision Making: How Managers Make Things Happen

Organizational Culture, Structure, and Design: Building Blocks of the Organization

Human Resource Management: Getting the Right People for Managerial Success

Organizational Change and Innovation: Lifelong Challenges for the Exceptional Manager

Managing Individual Differences and Behavior: Supervising People As People

Motivating Employees: Achieving Superior Performance in the Workplace

Groups and Teams: Increasing Cooperation, Reducing Conflict

Power, Influence, and Leadership: From Becoming a Manager to Becoming a Leader

Interpersonal Organizational Communication: Mastering the Exchange of Information

Control Systems and Quality Management: Techniques for Enhancing Organizational Effectiveness

Filters

Exam 5: Planning: the Foundation of Successful Management

Which of the following is a tactical goal?

Imagine that you are a manager of a local shoe store with the responsibility for four employees.Outline a detailed plan for how you would implement MBO to increase overall store revenue by 10% by the end of the year.

______ is planning done by first-line managers to determine how to accomplish specific tasks with available resources within the next 1 to 52 weeks.

Goals are arranged in a hierarchy known as a means-end chain because in the chain of management,the accomplishment of high-level goals is the means leading to the accomplishment of low-level goals or ends.

The planning process begins with two attributes: a mission statement and a vision statement.What questions are answered with each of these?

In the planning/control cycle,managers take corrective action by correcting deviations in the plan being carried out or by improving future plans.

Steve,a hotel general manager,has had great success using MBO.Hannah,his district manager,has found that Steve's employees are highly motivated.Because Steve _________,Hannah is able to discern that he is using MBO.

The Exceptional Manager: What You Do How You Do It

Management Theory: Essential Background for the Successful Manager

The Managers Changing Work Environment and Ethical Responsibilities: Doing the Right Thing

Global Management: Managing Across Borders

Strategic Management: How Exceptional Managers Realize a Grand Design

Individual and Group Decision Making: How Managers Make Things Happen

Organizational Culture, Structure, and Design: Building Blocks of the Organization

Human Resource Management: Getting the Right People for Managerial Success

Organizational Change and Innovation: Lifelong Challenges for the Exceptional Manager

Managing Individual Differences and Behavior: Supervising People As People

Motivating Employees: Achieving Superior Performance in the Workplace

Groups and Teams: Increasing Cooperation, Reducing Conflict

Power, Influence, and Leadership: From Becoming a Manager to Becoming a Leader

Interpersonal Organizational Communication: Mastering the Exchange of Information

Control Systems and Quality Management: Techniques for Enhancing Organizational Effectiveness

Filters