Question 1

Describe the three steps in strategy formulation.

Accepted Answer

Three steps in strategy formulation are:

Question 2

Define the term corporate culture.

Accepted Answer

Corporate culture is the uniqu

Question 3

A study by Google found that technical expertise ranked last among a list of eight "Habits of Highly Effective Google Managers."

Accepted Answer

A) True 
 B)False

Question 4

CN's diversification into trucking is an example of related diversification.

Accepted Answer

A) True 
 B)False

Question 5

The executive team at Marlon Corp.is involved in a systematic planning process.The first thing they did was to establish goals for the organization.What should they do next?

Accepted Answer

A)  Convey the new goals to employees. 
B)  Assess the feasibility of achieving the new goals. 
C)  Determine whether a gap exists between the company's desired and actual positions. 
D)  Develop plans to achieve the new goals. 
E)  Implement new plans. 
A)  Convey the new goals to employees. 
B)  Assess the feasibility of achieving the new goals. 
C)  Determine whether a gap exists between the company's desired and actual positions. 
D)  Develop plans to achieve the new goals. 
E)  Implement new plans.

Question 6

Both Rolex and Timex want to sell watches at a profit.They share a common

Accepted Answer

A)  purpose. 
B)  corporate performance target. 
C)  mission. 
D)  long-term goal. 
E)  strategic goal. 
A)  purpose. 
B)  corporate performance target. 
C)  mission. 
D)  long-term goal. 
E)  strategic goal.

Question 7

Companies like Procter & Gamble,Coca-Cola,and Levi Strauss have a particularly strong need for ________ managers.

Accepted Answer

A)  human resources 
B)  information 
C)  finance 
D)  operations 
E)  marketing 
A)  human resources 
B)  information 
C)  finance 
D)  operations 
E)  marketing

Question 8

Strategic goals are set by

Accepted Answer

A)  production employees. 
B)  middle management and first-line supervisors. 
C)  first-line supervisors. 
D)  top managers. 
E)  middle management. 
A)  production employees. 
B)  middle management and first-line supervisors. 
C)  first-line supervisors. 
D)  top managers. 
E)  middle management.

Question 9

Technical skills are especially important for

Accepted Answer

A)  middle level managers. 
B)  members of the board of directors. 
C)  top level managers. 
D)  company presidents. 
E)  first-line managers. 
A)  middle level managers. 
B)  members of the board of directors. 
C)  top level managers. 
D)  company presidents. 
E)  first-line managers.

Question 10

Which is the skill that top-level managers use more than first-level managers?

Accepted Answer

A)  Strategy 
B)  Technical 
C)  Human relations 
D)  Conceptual 
E)  Marketing 
A)  Strategy 
B)  Technical 
C)  Human relations 
D)  Conceptual 
E)  Marketing

Question 11

The management functions of planning,organizing,leading,and controlling follow each other in logical order.

Accepted Answer

A) True 
 B)False

Question 12

Identify and describe the three competitive strategies identified by Michael Porter.

Accepted Answer

- cost leadership: becoming the low-cost

Question 13

When an organization strives to provide goods or services that are distinctive from those of its competitors,it is pursuing the business-level strategy known as

Accepted Answer

A)  focus. 
B)  market development. 
C)  cost leadership. 
D)  market penetration. 
E)  differentiation. 
A)  focus. 
B)  market development. 
C)  cost leadership. 
D)  market penetration. 
E)  differentiation.

Question 14

General Electric's goal is to have each of its divisions be #1 or #2 in its industry.This illustrates the principle that "goal setting helps to define corporate culture."

Accepted Answer

A) True 
 B)False

Question 15

When the CEO of a company monitors the engineers' performance to make sure that they are on track to reach their goals,he is

Accepted Answer

A)  leading. 
B)  planning. 
C)  staffing. 
D)  controlling. 
E)  organizing. 
A)  leading. 
B)  planning. 
C)  staffing. 
D)  controlling. 
E)  organizing.

Question 16

What is contingency planning?

Accepted Answer

Contingency planning is planni

Question 17

Mega Computer has decided that within the next five years it wants to become an industry leader in disk drive technology,a technology that has little existing support inside the company at this time.This goal will

Accepted Answer

A)  help assess performance. 
B)  help make decisions. 
C)  help allocate resources. 
D)  provide direction. 
E)  help define corporate culture. 
A)  help assess performance. 
B)  help make decisions. 
C)  help allocate resources. 
D)  provide direction. 
E)  help define corporate culture.

Question 18

Managers with a high risk propensity are more likely than their conservative counterparts to achieve big successes with their decisions,but they are also more likely to incur greater losses.

Accepted Answer

A) True 
 B)False

Question 19

Marjorie is thinking about accepting a job offer at Arrow Financial Services,but she is wondering about how employees are rewarded.Which of the following would support the argument that Arrow rewards employees based on the process that led to results and not just on the results themselves?

Accepted Answer

A)  When employees achieve especially dramatic results,they receive bonuses that are greater than those called for in the bonus plan. 
B)  Management does not punish when results fall short due to changes in the external environment that employees have no control over. 
C)  Employees are sometimes rewarded even if it can be shown that employees' efforts didn't make a significant contribution to success. 
D)  Employees are not punished for negative outcomes,but they are rewarded for positive ones. 
E)  There are no particular rewards for positive outcomes,but there ar punishments for negative outcomes. 
A)  When employees achieve especially dramatic results,they receive bonuses that are greater than those called for in the bonus plan. 
B)  Management does not punish when results fall short due to changes in the external environment that employees have no control over. 
C)  Employees are sometimes rewarded even if it can be shown that employees' efforts didn't make a significant contribution to success. 
D)  Employees are not punished for negative outcomes,but they are rewarded for positive ones. 
E)  There are no particular rewards for positive outcomes,but there ar punishments for negative outcomes.

Question 20

Executives at Blendon Corp.are trying to determine what went wrong with a major project that recently failed.There were problems in every area of management (planning,organizing,leading,and controlling).Which of the following would MOST strongly suggest that there were failures in planning?

Accepted Answer

A)  Two employees who were put on the project couldn't stand each other. 
B)  The controlling problems the project experienced were commonly experienced by other project leaders in this industry. 
C)  Suppliers of components for the project had to produce at maximum capacity. 
D)  There was a failure to monitor production output. 
E)  Even if planning had been effective,the project would have failed because of controlling problems. 
A)  Two employees who were put on the project couldn't stand each other. 
B)  The controlling problems the project experienced were commonly experienced by other project leaders in this industry. 
C)  Suppliers of components for the project had to produce at maximum capacity. 
D)  There was a failure to monitor production output. 
E)  Even if planning had been effective,the project would have failed because of controlling problems.

Describe the three steps in strategy formulation.

Define the term corporate culture.

A study by Google found that technical expertise ranked last among a list of eight "Habits of Highly Effective Google Managers."

CN's diversification into trucking is an example of related diversification.

The executive team at Marlon Corp.is involved in a systematic planning process.The first thing they did was to establish goals for the organization.What should they do next?

Both Rolex and Timex want to sell watches at a profit.They share a common

Companies like Procter & Gamble,Coca-Cola,and Levi Strauss have a particularly strong need for ________ managers.

Strategic goals are set by

Technical skills are especially important for

Which is the skill that top-level managers use more than first-level managers?

The management functions of planning,organizing,leading,and controlling follow each other in logical order.

Identify and describe the three competitive strategies identified by Michael Porter.

When an organization strives to provide goods or services that are distinctive from those of its competitors,it is pursuing the business-level strategy known as

General Electric's goal is to have each of its divisions be #1 or #2 in its industry.This illustrates the principle that "goal setting helps to define corporate culture."

When the CEO of a company monitors the engineers' performance to make sure that they are on track to reach their goals,he is

What is contingency planning?

Mega Computer has decided that within the next five years it wants to become an industry leader in disk drive technology,a technology that has little existing support inside the company at this time.This goal will

Managers with a high risk propensity are more likely than their conservative counterparts to achieve big successes with their decisions,but they are also more likely to incur greater losses.

Marjorie is thinking about accepting a job offer at Arrow Financial Services,but she is wondering about how employees are rewarded.Which of the following would support the argument that Arrow rewards employees based on the process that led to results and not just on the results themselves?

Executives at Blendon Corp.are trying to determine what went wrong with a major project that recently failed.There were problems in every area of management (planning,organizing,leading,and controlling).Which of the following would MOST strongly suggest that there were failures in planning?

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters

Exam 6: Managing the Business Enterprise

Describe the three steps in strategy formulation.

Define the term corporate culture.

A study by Google found that technical expertise ranked last among a list of eight "Habits of Highly Effective Google Managers."

CN's diversification into trucking is an example of related diversification.

The executive team at Marlon Corp.is involved in a systematic planning process.The first thing they did was to establish goals for the organization.What should they do next?

Both Rolex and Timex want to sell watches at a profit.They share a common

Companies like Procter & Gamble,Coca-Cola,and Levi Strauss have a particularly strong need for ________ managers.

Strategic goals are set by

Technical skills are especially important for

Which is the skill that top-level managers use more than first-level managers?

The management functions of planning,organizing,leading,and controlling follow each other in logical order.

Identify and describe the three competitive strategies identified by Michael Porter.

When an organization strives to provide goods or services that are distinctive from those of its competitors,it is pursuing the business-level strategy known as

General Electric's goal is to have each of its divisions be #1 or #2 in its industry.This illustrates the principle that "goal setting helps to define corporate culture."

When the CEO of a company monitors the engineers' performance to make sure that they are on track to reach their goals,he is

What is contingency planning?

Mega Computer has decided that within the next five years it wants to become an industry leader in disk drive technology,a technology that has little existing support inside the company at this time.This goal will

Managers with a high risk propensity are more likely than their conservative counterparts to achieve big successes with their decisions,but they are also more likely to incur greater losses.

Marjorie is thinking about accepting a job offer at Arrow Financial Services,but she is wondering about how employees are rewarded.Which of the following would support the argument that Arrow rewards employees based on the process that led to results and not just on the results themselves?

Executives at Blendon Corp.are trying to determine what went wrong with a major project that recently failed.There were problems in every area of management (planning,organizing,leading,and controlling).Which of the following would MOST strongly suggest that there were failures in planning?

Understanding the Canadian Business System

Understanding the Environments of Business

Conducting Business Ethically and Responsibly

Understanding Entrepreneurship, small Business, and New Venture Creation

The Global Context of Business

Managing Human Resources

Understanding Labourmanagement Relations

Motivating and Leading Employees

Producing Goods and Services

Increasing Productivity and Quality

Managing Information Systems and Communication Technology

Understanding Accounting Issues

Understanding Marketing Processes and Consumer Behaviour

Developing and Promoting Goods and Services

Pricing and Distributing Goods and Services

Understanding Money and Banking

Understanding Securities and Investments

Financial Decisions and Risk Management

Filters