Exam 6: Managing the Business Enterprise

General Industries Ltd.is a large conglomerate with many diverse divisions.One of the divisions has been experiencing poor performance,and it also has a small market share.Management is therefore thinking about selling the division.Which of the following would MOST strongly suggest that General Industries should keep the division instead?

Contingency planning involves

Vice president,treasurer,chief executive officer,and president are positions found at the ________ level of management.

3M allocates more resources to new projects with large sales potential than it allocates to mature products with low growth potential.This illustrates the principle that "goal setting helps managers assess performance."

With respect to the concepts of "purpose" and "mission," which of the following is correct?

In terms of Mintzberg's managerial roles,the person responsible for the work of the unit is a

A corporate-level strategy is developed to identify the various businesses that a company will be in.

Two executives at Lexar Corp.are having a disagreement about the managerial skills needed by the person who will be chosen to head up an important software development project.Executive A argues that the person must have strong technical skills and be very knowledgeable about the latest technology that is relevant for the project,but Executive B says that the person who heads up the project must first and foremost have strong conceptual skills in order to effectively manage the project.Which of the following would weaken Executive A's argument?

A(n)________ is a plan that is decided by a firm's top management,and that reflects the company's priorities,as well as the steps needed to meet strategic goals.

What is crisis management?

What are the characteristics of a good goal?

Which of the following is not an important element in establishing a unique corporate culture?

The three major kinds of goals that a firm sets are long-term,intermediate,and short-term.

Employees generally are enthusiastic about change because they assume that they will benefit from the change.

Ace Products hopes to increase sales of home heating products in the upcoming year.This is an example of a(n)

Describe the three steps in strategy formulation.

To manage time more effectively,managers must address the four leading causes of wasted time: the telephone,e-mail,meetings,and the internet.

Operations managers are responsible for the firm's financial operations,including its investments and accounting functions.

________ involves determining what the business needs to do and the best way to achieve it.

Explain the term "time management skills" and discuss the four leading causes of wasted time.Provide solutions to these problems and also include an example of a time where you had to use such skills.