Exam 6: Understanding the Management Process

Achieving a balance between conflicting goals is called optimization.

Common names for top-level managers are vice president, chief executive officer, and chief operating officer.

A certain chicken company decides that it will become the market leader in the poultry business in five years with a 40 percent share of the market.This statement would be classified as a(n) _____.

A(n) ____ is a smaller-scale plan developed to implement a strategy.

How does the organization's mission differ from its strategic planning?

Managers who manage systems that convert resources into goods and services are known as ____ managers.

When a manager identifies an opportunity, he or she generates alternatives to pursue the opportunity, selects one of them, implements it, and then evaluates the results.This manager is acting out the ____ process.

Dell Computer attempts to earn a profit by manufacturing premium-quality computers.This action represents its mission.

Certain techniques can help generate creative alternatives, but those techniques do not include brainstorming.

What does a manager manage?

A former CEO at International Telephone and Telegraph had a reputation for publicly humiliating subordinates who annoyed or disappointed him.This manager obviously needed to improve his ____ skills.

Frank Roberts recently has been named to head a major manufacturing plant at Dow Chemical.The plant has had significant increases in inventory and declines in net income over the past two years.Frank's task is to eliminate the excess inventory and return the plant to its previous level of profitability.To begin solving this problem, Frank invites suggestions from line workers, gathers managers from various levels of the plant to brainstorm, and talks with experts in the field of operations management.This step in the managerial decision-making process is known as

The CEO of The Limited Group attends the ribbon-cutting ceremony for the company's first Express store that includes both women's and men's clothing.The CEO is fulfilling the role of a _____.

Describe what you believe to be some of the challenges of being a manager.

First-line managers spend most of their time working with and motivating their employees, answering questions, and solving daily problems.

If Martin Jones, VP Finance, meets with Susan Sheridan, CEO, to discuss how much of the budget can be allotted to certain departments for next year's project plans, the two are engaging in _____.

American Airlines has established a goal of increasing its profits by 12 percent next year.To ensure that the goal is reached, management monitors profits on a monthly basis.After three months, if profits have not increased by 3 percent, management will take corrective action to get the company on track.By doing so, management is carrying out its ____ function(s).

A manager with ____ skills has the ability to deal effectively with people inside and outside the organization.

Which of the following is not a step in the decision-making process?

The roles managers must fulfill may be classified into three categories: decisional, interpersonal, and _____.