Question 1

Which of the following BEST describes a mission?

Accepted Answer

A)  An objective that a business hopes and plans to achieve 
B)  A broad set of organizational plans for implementing decisions made for achieving organizational goals 
C)  The shared experiences, stories, beliefs, and norms that characterize an organization 
D)  An organization's statement of how it will achieve its purpose in the environment in which it conducts business 
E)  An organization's competitive standing in the marketplace 
A)  An objective that a business hopes and plans to achieve 
B)  A broad set of organizational plans for implementing decisions made for achieving organizational goals 
C)  The shared experiences, stories, beliefs, and norms that characterize an organization 
D)  An organization's statement of how it will achieve its purpose in the environment in which it conducts business 
E)  An organization's competitive standing in the marketplace

Question 2

What type of skill is needed to understand foreign markets, cultural differences, and motives of foreign rivals?

Accepted Answer

A)  Technology 
B)  Strategic management 
C)  Decision making 
D)  Conceptual 
E)  Global management 
A)  Technology 
B)  Strategic management 
C)  Decision making 
D)  Conceptual 
E)  Global management

Question 3

What identifies performance targets used by organizations and their managers to measure success or failure at every level?

Accepted Answer

A)  Tactics 
B)  Goals 
C)  Strategies 
D)  Mission statements 
E)  Promotions 
A)  Tactics 
B)  Goals 
C)  Strategies 
D)  Mission statements 
E)  Promotions

Question 4

Corporate culture influences management's philosophy, style, and behavior.

Accepted Answer

A) True 
 B)False

Question 5

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Accepted Answer

A) True 
 B)False

Question 6

Strategy has a wider scope than planning.

Accepted Answer

A) True 
 B)False

Question 7

What is a mission statement?

Accepted Answer

A mission statement is a statement of ho

Question 8

Which element of an organization is defined by shared experiences, stories, beliefs, and norms?

Accepted Answer

A)  Its human resources 
B)  Its product philosophy 
C)  Its corporate culture 
D)  Its mission statement 
E)  Its organizational structure 
A)  Its human resources 
B)  Its product philosophy 
C)  Its corporate culture 
D)  Its mission statement 
E)  Its organizational structure

Question 9

If an organization sets out to increase its share of the snack food market by 10 percent during the next eight years, what kind of goal is the organization setting?

Accepted Answer

A)  A short-term goal 
B)  An intermediate goal 
C)  A tactical goal 
D)  A long-term goal 
E)  An organizational goal 
A)  A short-term goal 
B)  An intermediate goal 
C)  A tactical goal 
D)  A long-term goal 
E)  An organizational goal

Question 10

Differentiate among strategic, tactical, and operational plans.

Accepted Answer

Strategic plans reflect decisions about

Question 11

Which of the following BEST describes a business strategy?

Accepted Answer

A)  A strategy for determining the firm's overall attitude toward growth and the way it will manage its businesses or product lines 
B)  A strategy at the business unit or product line level that focuses on improving a firm's competitive position 
C)  A strategy by which managers in specific areas decide how best to achieve corporate goals through productivity 
D)  A strategy that assists first line managers in making day-to-day decisions about motivating employees 
E)  A strategy that integrates an organization's marketing goals into a cohesive whole by focusing on the ideal product mix to achieve maximum profit potential 
A)  A strategy for determining the firm's overall attitude toward growth and the way it will manage its businesses or product lines 
B)  A strategy at the business unit or product line level that focuses on improving a firm's competitive position 
C)  A strategy by which managers in specific areas decide how best to achieve corporate goals through productivity 
D)  A strategy that assists first line managers in making day-to-day decisions about motivating employees 
E)  A strategy that integrates an organization's marketing goals into a cohesive whole by focusing on the ideal product mix to achieve maximum profit potential

Question 12

Managers have many roles within the organization. Discuss the interpersonal roles of managers and how those roles affect the organization.

Accepted Answer

Three interpersonal roles are inherent i

Question 13

Who is responsible for designing and implementing systems to gather, organize, and distribute facts and data essential for the running of the company?

Accepted Answer

A)  Marketing managers 
B)  Information managers 
C)  Production managers 
D)  Human resource managers 
E)  Research and development managers 
A)  Marketing managers 
B)  Information managers 
C)  Production managers 
D)  Human resource managers 
E)  Research and development managers

Question 14

What does e-partnering involve?

Accepted Answer

A)  Buying shares of small companies that provide technology unavailable to the purchasing company 
B)  Buying shares of small companies that are similar to the purchasing firm 
C)  Linking up to the inventory records of another company 
D)  Sharing a Web server with another company 
E)  Advertising another company on the purchasing company's Web site 
A)  Buying shares of small companies that provide technology unavailable to the purchasing company 
B)  Buying shares of small companies that are similar to the purchasing firm 
C)  Linking up to the inventory records of another company 
D)  Sharing a Web server with another company 
E)  Advertising another company on the purchasing company's Web site

Question 15

When a company attempts to change its culture, what must take place to give the new culture solid shape within the firm?

Accepted Answer

A)  The firm must set up new systems for appraising and compensating employees who enforce the new values. 
B)  A highly responsive strategy must be determined. 
C)  There must be a period devoted to conflict and resistance. 
D)  There must be renewed focus on the activities of the competitors and customers. 
E)  There must be a thorough SWOT analysis to determine if the change is necessary. 
A)  The firm must set up new systems for appraising and compensating employees who enforce the new values. 
B)  A highly responsive strategy must be determined. 
C)  There must be a period devoted to conflict and resistance. 
D)  There must be renewed focus on the activities of the competitors and customers. 
E)  There must be a thorough SWOT analysis to determine if the change is necessary.

Question 16

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

Accepted Answer

A)  Organizing 
B)  Planning 
C)  Controlling 
D)  Processing 
E)  Monitoring 
A)  Organizing 
B)  Planning 
C)  Controlling 
D)  Processing 
E)  Monitoring

Question 17

A strong corporate culture directs employees' efforts and helps everyone work toward the same goals.

Accepted Answer

A) True 
 B)False

Question 18

What of the following indicates an organization's reason for being?

Accepted Answer

A)  Strategy 
B)  Tactic 
C)  Mission 
D)  Diversity 
E)  Profitability 
A)  Strategy 
B)  Tactic 
C)  Mission 
D)  Diversity 
E)  Profitability

Question 19

Corporate culture is largely a result of state and local laws and regulations.

Accepted Answer

A) True 
 B)False

Question 20

The last step in the decision-making process is the selection of the best alternative.

Accepted Answer

A) True 
 B)False

Which of the following BEST describes a mission?

What type of skill is needed to understand foreign markets, cultural differences, and motives of foreign rivals?

What identifies performance targets used by organizations and their managers to measure success or failure at every level?

Corporate culture influences management's philosophy, style, and behavior.

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Strategy has a wider scope than planning.

What is a mission statement?

Which element of an organization is defined by shared experiences, stories, beliefs, and norms?

If an organization sets out to increase its share of the snack food market by 10 percent during the next eight years, what kind of goal is the organization setting?

Differentiate among strategic, tactical, and operational plans.

Which of the following BEST describes a business strategy?

Managers have many roles within the organization. Discuss the interpersonal roles of managers and how those roles affect the organization.

Who is responsible for designing and implementing systems to gather, organize, and distribute facts and data essential for the running of the company?

What does e-partnering involve?

When a company attempts to change its culture, what must take place to give the new culture solid shape within the firm?

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

A strong corporate culture directs employees' efforts and helps everyone work toward the same goals.

What of the following indicates an organization's reason for being?

Corporate culture is largely a result of state and local laws and regulations.

The last step in the decision-making process is the selection of the best alternative.

The U.S. Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 5: Managing the Business

Which of the following BEST describes a mission?

What type of skill is needed to understand foreign markets, cultural differences, and motives of foreign rivals?

What identifies performance targets used by organizations and their managers to measure success or failure at every level?

Corporate culture influences management's philosophy, style, and behavior.

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Strategy has a wider scope than planning.

What is a mission statement?

Which element of an organization is defined by shared experiences, stories, beliefs, and norms?

If an organization sets out to increase its share of the snack food market by 10 percent during the next eight years, what kind of goal is the organization setting?

Differentiate among strategic, tactical, and operational plans.

Which of the following BEST describes a business strategy?

Managers have many roles within the organization. Discuss the interpersonal roles of managers and how those roles affect the organization.

Who is responsible for designing and implementing systems to gather, organize, and distribute facts and data essential for the running of the company?

What does e-partnering involve?

When a company attempts to change its culture, what must take place to give the new culture solid shape within the firm?

Which aspect of the management process involves determining what the organization needs to do and how best to get it done?

A strong corporate culture directs employees' efforts and helps everyone work toward the same goals.

What of the following indicates an organization's reason for being?

Corporate culture is largely a result of state and local laws and regulations.

The last step in the decision-making process is the selection of the best alternative.

The U.S. Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Developing and Pricing Products

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters