Exam 6: The Nature of Management

Mitch owns a large moving company. Over the years, the market has changed, and Mitch has had to adapt how he structures his resources and activities to continue to accomplish his business objectives efficiently and effectively. What does this scenario demonstrate?

All of the following are challenges managers confront in the business world today EXCEPT

Any organization requiring the coordination of resources requires management.

Jaclyn manages a fast food restaurant. One day, while sitting in the restaurant taking her break, she hears a group of customers complaining about how slow the service has been getting and that they may have to stop eating there. What is the most effective control action Jaclyn can take to resolve the problem?

Isra manages a small coffee house. In fact, this business is so small that Isra is the only manager. What level manager is Isra?

Easy Does It, a home improvement store, has a strategic plan to open a new store next year. As a result, it develops a plan to determine what needs to be accomplished in order to get the new store up and running. This is a ________ plan.

Wayne is a manager of a large pharmaceutical firm. He often meets with consumer groups to discuss the safety of the company's new drugs. When he does this, he is acting as a

Grace manages a beach rental kiosk. Her goal is to run this business in such a way that she achieves the desired result, making a profit and providing her customers with the items they need to enjoy their vacation. Thus, her primary managerial concern is

Melvin's fishing store has profit as an objective. As a result, he wants to have

Joey's jewelry business has grown from a small startup in his basement to a chain of outlets all over the state. His business has the potential to expand further, provided he has the resources. To attract investors and other resources, he creates a mission statement for his company. He highlights that his gems come from countries with fair labor practices. Which basic question of a well-developed mission statement is he addressing?

What should be kept in mind when setting company goals?

How are managers classified on the basis of their leadership styles?

Roger and his team members are primarily responsible for procuring the funds needed for the successful operation of the organization and investing that money to pursue organizational goals. Thus, Roger is a

Daniel is a first-line manager at a heating and cooling company. Because Daniel has worked in the field for over 20 years, he is able to train employees, answer questions, provide guidance, and solve problems. These abilities most closely describe his

Pamela manages a large blood donation facility. One of her roles is structuring the company's resources and activities to accomplish its objectives efficiently and effectively. What management function does this example pertain to?

A huge fire broke out in Fancy Fixtures, a small home decorating store. The fire destroyed the store's inventory, and ultimately, the company went out of business. What is most likely the reason this company went out of business?

A firm's ________ should contain three key components: an attribute sought, a target to be achieved, and a time frame.

Which of these basic questions will be answered by a well-developed mission statement?

Chip owns a scuba shop in Australia. His business is doing well, catering to local divers and tourists who want to learn to dive. He has developed a strong organizational culture, a good marketing plan, and a coherent business strategy. What serves as the foundation for developing these strengths?

The Electronics Warehouse wants to make sure its products are always available to customers. Since the company sells many electronic products, including computers, televisions, printers, and gaming equipment, it will need many diverse ________ to maximize efficiencies and provide creative solutions to help the company reduce expenses and reach its objectives.