Question 1

Which of the following BEST describes functional 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 2

Fostering new ideas and innovation and resolving conflicts within a department is a responsibility under which managerial role?

Accepted Answer

A)  Interpersonal 
B)  Resource allocator 
C)  Decisional 
D)  Disturbance handler 
E)  Informational 
A)  Interpersonal 
B)  Resource allocator 
C)  Decisional 
D)  Disturbance handler 
E)  Informational

Question 3

What are the purposes of having a strong corporate culture?

Accepted Answer

A strong corporate culture serves severa

Question 4

Operations managers are responsible for production, inventory, and quality control.

Accepted Answer

A) True 
 B)False

Question 5

What activity do company managers undertake so they can later measure success or failure at every organizational level?

Accepted Answer

A)  Planning tactics 
B)  Setting goals 
C)  Devising strategies 
D)  Auditing skills 
E)  Publicizing promotions 
A)  Planning tactics 
B)  Setting goals 
C)  Devising strategies 
D)  Auditing skills 
E)  Publicizing promotions

Question 6

What element of management is being utilized when using computer forecasts to determine possible outcomes of an intended change?

Accepted Answer

A)  Strategy formulation 
B)  Goal setting 
C)  Crisis management 
D)  Contingency planning 
E)  Related diversification 
A)  Strategy formulation 
B)  Goal setting 
C)  Crisis management 
D)  Contingency planning 
E)  Related diversification

Question 7

An accountant's ability to audit a company's records is an example of what type of skills?

Accepted Answer

A)  Motor skills 
B)  Technical skills 
C)  Human relations skills 
D)  Conceptual skills 
E)  Decision-making skills 
A)  Motor skills 
B)  Technical skills 
C)  Human relations skills 
D)  Conceptual skills 
E)  Decision-making skills

Question 8

Information managers are responsible for getting products from producers to consumers.

Accepted Answer

A) True 
 B)False

Question 9

Discuss the art of management and how it is supported by the science of management.

Accepted Answer

Managers must blend an element of intuit

Question 10

When conducting a SWOT analysis of an organization, which question can help management brainstorm for the weaknesses section of the analysis?

Accepted Answer

A)  What external changes present interesting possibilities? 
B)  What aspect of the organization's vision can be altered? 
C)  What necessary skills do the organization's employees currently lack? 
D)  What does the organization offer that makes it stand out from other organizations? 
E)  What external economic forces can affect the organization's bottom line? 
A)  What external changes present interesting possibilities? 
B)  What aspect of the organization's vision can be altered? 
C)  What necessary skills do the organization's employees currently lack? 
D)  What does the organization offer that makes it stand out from other organizations? 
E)  What external economic forces can affect the organization's bottom line?

Question 11

What type of management process function is being used when a manager motivates the workforce by rewarding them with additional vacation when standards are achieved?

Accepted Answer

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

Question 12

A manager is expected to serve in what interpersonal capacity when coordinating people, groups, and organizations?

Accepted Answer

A)  Figurehead 
B)  Spokesperson 
C)  Leader 
D)  Negotiator 
E)  Liaison 
A)  Figurehead 
B)  Spokesperson 
C)  Leader 
D)  Negotiator 
E)  Liaison

Question 13

An organization retrenches by increasing its investment in a particular area.

Accepted Answer

A) True 
 B)False

Question 14

What type of skills are needed to understand and work well with people in the workplace?

Accepted Answer

A)  Human relations skills 
B)  Technical skills 
C)  Conceptual skills 
D)  Motor skills 
E)  Decision-making skills 
A)  Human relations skills 
B)  Technical skills 
C)  Conceptual skills 
D)  Motor skills 
E)  Decision-making skills

Question 15

Which type of manager is responsible for implementing the strategies, policies, and decisions made by top managers?

Accepted Answer

A)  First-line manager 
B)  Middle manager 
C)  Supervisory manager 
D)  Office manager 
E)  Financial managers 
A)  First-line manager 
B)  Middle manager 
C)  Supervisory manager 
D)  Office manager 
E)  Financial managers

Question 16

When conducting a SWOT analysis of an organization, which question can help management brainstorm for the threats section of the analysis?

Accepted Answer

A)  What external changes present interesting possibilities? 
B)  What aspect of the organization's vision can be altered? 
C)  What necessary skills do the organization's employees currently lack? 
D)  What does the organization offer that makes it stand out from other organizations? 
E)  What external economic forces can affect the organization's bottom line? 
A)  What external changes present interesting possibilities? 
B)  What aspect of the organization's vision can be altered? 
C)  What necessary skills do the organization's employees currently lack? 
D)  What does the organization offer that makes it stand out from other organizations? 
E)  What external economic forces can affect the organization's bottom line?

Question 17

Which business constituents analyze their competitive environments and plan, organize, direct, and control the operations of their organizations?

Accepted Answer

A)  Stockholders 
B)  Managers 
C)  Regulators 
D)  Agents 
E)  Customers 
A)  Stockholders 
B)  Managers 
C)  Regulators 
D)  Agents 
E)  Customers

Question 18

Define the term management.

Accepted Answer

Management is the process of planning, o

Question 19

The effectiveness of managers in using time can be undermined by frequent phone calls.

Accepted Answer

A) True 
 B)False

Question 20

Which description identifies the controlling function of the management process?

Accepted Answer

A)  Guiding and motivating employees to meet organizational objectives 
B)  Determining how to arrange a firm's resources into a coherent structure 
C)  Scanning the business environment for threats and opportunities 
D)  Monitoring a firm's performance to ensure that it is meeting its goals 
E)  Determining what an organization needs to do and how best to get it done 
A)  Guiding and motivating employees to meet organizational objectives 
B)  Determining how to arrange a firm's resources into a coherent structure 
C)  Scanning the business environment for threats and opportunities 
D)  Monitoring a firm's performance to ensure that it is meeting its goals 
E)  Determining what an organization needs to do and how best to get it done

Which of the following BEST describes functional strategy?

Fostering new ideas and innovation and resolving conflicts within a department is a responsibility under which managerial role?

What are the purposes of having a strong corporate culture?

Operations managers are responsible for production, inventory, and quality control.

What activity do company managers undertake so they can later measure success or failure at every organizational level?

What element of management is being utilized when using computer forecasts to determine possible outcomes of an intended change?

An accountant's ability to audit a company's records is an example of what type of skills?

Information managers are responsible for getting products from producers to consumers.

Discuss the art of management and how it is supported by the science of management.

When conducting a SWOT analysis of an organization, which question can help management brainstorm for the weaknesses section of the analysis?

What type of management process function is being used when a manager motivates the workforce by rewarding them with additional vacation when standards are achieved?

A manager is expected to serve in what interpersonal capacity when coordinating people, groups, and organizations?

An organization retrenches by increasing its investment in a particular area.

What type of skills are needed to understand and work well with people in the workplace?

Which type of manager is responsible for implementing the strategies, policies, and decisions made by top managers?

When conducting a SWOT analysis of an organization, which question can help management brainstorm for the threats section of the analysis?

Which business constituents analyze their competitive environments and plan, organize, direct, and control the operations of their organizations?

Define the term management.

The effectiveness of managers in using time can be undermined by frequent phone calls.

Which description identifies the controlling function of the management process?

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 functional strategy?

Fostering new ideas and innovation and resolving conflicts within a department is a responsibility under which managerial role?

What are the purposes of having a strong corporate culture?

Operations managers are responsible for production, inventory, and quality control.

What activity do company managers undertake so they can later measure success or failure at every organizational level?

What element of management is being utilized when using computer forecasts to determine possible outcomes of an intended change?

An accountant's ability to audit a company's records is an example of what type of skills?

Information managers are responsible for getting products from producers to consumers.

Discuss the art of management and how it is supported by the science of management.

When conducting a SWOT analysis of an organization, which question can help management brainstorm for the weaknesses section of the analysis?

What type of management process function is being used when a manager motivates the workforce by rewarding them with additional vacation when standards are achieved?

A manager is expected to serve in what interpersonal capacity when coordinating people, groups, and organizations?

An organization retrenches by increasing its investment in a particular area.

What type of skills are needed to understand and work well with people in the workplace?

Which type of manager is responsible for implementing the strategies, policies, and decisions made by top managers?

When conducting a SWOT analysis of an organization, which question can help management brainstorm for the threats section of the analysis?

Which business constituents analyze their competitive environments and plan, organize, direct, and control the operations of their organizations?

Define the term management.

The effectiveness of managers in using time can be undermined by frequent phone calls.

Which description identifies the controlling function of the management process?

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