Question 1

Comparing actual performance against standards is an example of which function of the management process?

Accepted Answer

A)  Planning 
B)  Organizing 
C)  Leading 
D)  Controlling 
E)  Strategizing 
A)  Planning 
B)  Organizing 
C)  Leading 
D)  Controlling 
E)  Strategizing

Question 2

Which of the following is NOT a characteristic of a strong contingency plan?

Accepted Answer

A)  Contact information for an on-site crisis manager 
B)  Information systems backup software 
C)  An evacuation plan 
D)  A prioritized list of critical operations 
E)  A summary of common types of emergencies 
A)  Contact information for an on-site crisis manager 
B)  Information systems backup software 
C)  An evacuation plan 
D)  A prioritized list of critical operations 
E)  A summary of common types of emergencies

Question 3

When the finance department has a goal of a 3 percent increase in return on investment in three years, what type of goal is the organization setting?

Accepted Answer

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

Question 4

The first step in the planning process is determining goals. What is the next step?

Accepted Answer

A)  Developing a strategic mission 
B)  Developing a comprehensive strategy 
C)  Developing an array of tactics 
D)  Developing an operational plan 
E)  Developing a functioning budget 
A)  Developing a strategic mission 
B)  Developing a comprehensive strategy 
C)  Developing an array of tactics 
D)  Developing an operational plan 
E)  Developing a functioning budget

Question 5

Business strategy focuses on improving the company's competitive position.

Accepted Answer

A) True 
 B)False

Question 6

Which function in the management process is being utilized when a firm elects to move towards a more centralized structure?

Accepted Answer

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

Question 7

Identify the four leading causes of wasted time in the workplace as outlined in the text.

Accepted Answer

The four leading causes of wasted time i

Question 8

What is SWOT analysis?

Accepted Answer

After strategic goals have been set, org

Question 9

A three year goal is considered to be what?

Accepted Answer

A)  Long-term 
B)  Intermediate 
C)  Short-term 
D)  Objective 
E)  Problematic 
A)  Long-term 
B)  Intermediate 
C)  Short-term 
D)  Objective 
E)  Problematic

Question 10

Increasing sales by 4 percent in the next six months would be an example of an intermediate goal.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is NOT considered an organizational strength?

Accepted Answer

A)  Strong market position 
B)  Dedicated work force 
C)  Changing consumer tastes 
D)  Technical expertise 
E)  Recognized customer relation management 
A)  Strong market position 
B)  Dedicated work force 
C)  Changing consumer tastes 
D)  Technical expertise 
E)  Recognized customer relation management

Question 12

Discuss the four main purposes of organizational goal setting.

Accepted Answer

Goal setting provides direction and guid

Question 13

In which step of the strategy formulation process would a SWOT analysis take place?

Accepted Answer

A)  Matching the organization and its environment 
B)  Analyzing the organization and the environment 
C)  Developing tactical and operations plans 
D)  Setting strategic goals 
E)  Contingency planning and crisis management 
A)  Matching the organization and its environment 
B)  Analyzing the organization and the environment 
C)  Developing tactical and operations plans 
D)  Setting strategic goals 
E)  Contingency planning and crisis management

Question 14

What can managers do to incorporate a scientific approach to management?

Accepted Answer

Many management problems and issues can

Question 15

Which of the following is the BEST example of unrelated diversification?

Accepted Answer

A)  Ford Motor Company merging with General Motors 
B)  Northwest Airlines merging with Procter & Gamble 
C)  McDonald's merging with Burger King 
D)  Tootsie Roll merging with Hershey 
E)  Bath and Body Works merging with The Body Store 
A)  Ford Motor Company merging with General Motors 
B)  Northwest Airlines merging with Procter & Gamble 
C)  McDonald's merging with Burger King 
D)  Tootsie Roll merging with Hershey 
E)  Bath and Body Works merging with The Body Store

Question 16

Discuss the three broad levels of strategy that organizations may implement.

Accepted Answer

Organizations may set corporate, busines

Question 17

The titles of supervisor, office manager, and group leader are examples of which level of management?

Accepted Answer

A)  Top management 
B)  Middle management 
C)  First-line management 
D)  Operations management 
E)  Human resource management 
A)  Top management 
B)  Middle management 
C)  First-line management 
D)  Operations management 
E)  Human resource management

Question 18

How is the decisional role of a corporate manager similar to the role of the entrepreneur?

Accepted Answer

A)  Both are initiators of change. 
B)  Both are resource allocators. 
C)  Both require technical skills. 
D)  Both must have strong Human Resource skills. 
E)  Both rely on strong conceptual skills. 
A)  Both are initiators of change. 
B)  Both are resource allocators. 
C)  Both require technical skills. 
D)  Both must have strong Human Resource skills. 
E)  Both rely on strong conceptual skills.

Question 19

Many managers spend as much as four hours a day in meetings.

Accepted Answer

A) True 
 B)False

Question 20

Contingency planning seeks to identify how a company will respond to change.

Accepted Answer

A) True 
 B)False

Comparing actual performance against standards is an example of which function of the management process?

Which of the following is NOT a characteristic of a strong contingency plan?

When the finance department has a goal of a 3 percent increase in return on investment in three years, what type of goal is the organization setting?

The first step in the planning process is determining goals. What is the next step?

Business strategy focuses on improving the company's competitive position.

Which function in the management process is being utilized when a firm elects to move towards a more centralized structure?

Identify the four leading causes of wasted time in the workplace as outlined in the text.

What is SWOT analysis?

A three year goal is considered to be what?

Increasing sales by 4 percent in the next six months would be an example of an intermediate goal.

Which of the following is NOT considered an organizational strength?

Discuss the four main purposes of organizational goal setting.

In which step of the strategy formulation process would a SWOT analysis take place?

What can managers do to incorporate a scientific approach to management?

Which of the following is the BEST example of unrelated diversification?

Discuss the three broad levels of strategy that organizations may implement.

The titles of supervisor, office manager, and group leader are examples of which level of management?

How is the decisional role of a corporate manager similar to the role of the entrepreneur?

Many managers spend as much as four hours a day in meetings.

Contingency planning seeks to identify how a company will respond to change.

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

Comparing actual performance against standards is an example of which function of the management process?

Which of the following is NOT a characteristic of a strong contingency plan?

When the finance department has a goal of a 3 percent increase in return on investment in three years, what type of goal is the organization setting?

The first step in the planning process is determining goals. What is the next step?

Business strategy focuses on improving the company's competitive position.

Which function in the management process is being utilized when a firm elects to move towards a more centralized structure?

Identify the four leading causes of wasted time in the workplace as outlined in the text.

What is SWOT analysis?

A three year goal is considered to be what?

Increasing sales by 4 percent in the next six months would be an example of an intermediate goal.

Which of the following is NOT considered an organizational strength?

Discuss the four main purposes of organizational goal setting.

In which step of the strategy formulation process would a SWOT analysis take place?

What can managers do to incorporate a scientific approach to management?

Which of the following is the BEST example of unrelated diversification?

Discuss the three broad levels of strategy that organizations may implement.

The titles of supervisor, office manager, and group leader are examples of which level of management?

How is the decisional role of a corporate manager similar to the role of the entrepreneur?

Many managers spend as much as four hours a day in meetings.

Contingency planning seeks to identify how a company will respond to change.

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