Question 1

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 2

Define the term corporate culture.

Accepted Answer

Corporate culture is the share

Question 3

What type of skills requires defining problems and selecting the best course of action to take?

Accepted Answer

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

Question 4

Which description identifies the organizing function of the management process?

Accepted Answer

A)  Guiding and motivating employees to meet organizational objectives 
B)  Determining how best to arrange an organization's resources into a coherent structure 
C)  Scanning the business environment for threats and opportunities 
D)  Monitoring an organization'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 best to arrange an organization's resources into a coherent structure 
C)  Scanning the business environment for threats and opportunities 
D)  Monitoring an organization'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

Question 5

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 6

How can organizations best deal with emergencies requiring immediate response?

Accepted Answer

A)  Contingency plans 
B)  Operational plans 
C)  Crisis management plans 
D)  Tactical plans 
E)  Cultural flexibility plans 
A)  Contingency plans 
B)  Operational plans 
C)  Crisis management plans 
D)  Tactical plans 
E)  Cultural flexibility plans

Question 7

Identify and explain the four types of decisional roles and the function of each role.

Accepted Answer

The information acquired by the manager

Question 8

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 9

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 10

A firm first sets its strategies and then focuses attention on goals to accomplish them.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following managers are responsible for planning and overseeing the firm's accounting functions?

Accepted Answer

A)  Financial managers 
B)  Information managers 
C)  Production managers 
D)  Human resource managers 
E)  Marketing managers 
A)  Financial managers 
B)  Information managers 
C)  Production managers 
D)  Human resource managers 
E)  Marketing managers

Question 12

What function of the management process is used to monitor and ensure the organization is meeting its goals?

Accepted Answer

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

Question 13

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

Accepted Answer

Many management problems and issues can

Question 14

Which of the following managers are directly responsible for getting product information from producers to consumers?

Accepted Answer

A)  Human resource managers 
B)  Public relations managers 
C)  Information managers 
D)  Marketing managers 
E)  Financial managers 
A)  Human resource managers 
B)  Public relations managers 
C)  Information managers 
D)  Marketing managers 
E)  Financial managers

Question 15

The first step in the control process is to compare actual performance to standards.

Accepted Answer

A) True 
 B)False

Question 16

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 17

Which variable of SWOT analysis identifies changing consumer tastes,hostile takeover offers,and new government regulations?

Accepted Answer

A)  Threats 
B)  Opportunities 
C)  Strategies 
D)  Internal factors 
E)  Weaknesses 
A)  Threats 
B)  Opportunities 
C)  Strategies 
D)  Internal factors 
E)  Weaknesses

Question 18

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 19

The starting point in effective management is setting goals.

Accepted Answer

A) True 
 B)False

Question 20

Define the term management.

Accepted Answer

Management is the process of planning,or

Which of the following is NOT considered an organizational strength?

Define the term corporate culture.

What type of skills requires defining problems and selecting the best course of action to take?

Which description identifies the organizing function of the management process?

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?

How can organizations best deal with emergencies requiring immediate response?

Identify and explain the four types of decisional roles and the function of each role.

Which of the following BEST describes a business strategy?

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

A firm first sets its strategies and then focuses attention on goals to accomplish them.

Which of the following managers are responsible for planning and overseeing the firm's accounting functions?

What function of the management process is used to monitor and ensure the organization is meeting its goals?

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

Which of the following managers are directly responsible for getting product information from producers to consumers?

The first step in the control process is to compare actual performance to standards.

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

Which variable of SWOT analysis identifies changing consumer tastes,hostile takeover offers,and new government regulations?

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

The starting point in effective management is setting goals.

Define the term management.

The US 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 Itfor 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 is NOT considered an organizational strength?

Define the term corporate culture.

What type of skills requires defining problems and selecting the best course of action to take?

Which description identifies the organizing function of the management process?

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?

How can organizations best deal with emergencies requiring immediate response?

Identify and explain the four types of decisional roles and the function of each role.

Which of the following BEST describes a business strategy?

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

A firm first sets its strategies and then focuses attention on goals to accomplish them.

Which of the following managers are responsible for planning and overseeing the firm's accounting functions?

What function of the management process is used to monitor and ensure the organization is meeting its goals?

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

Which of the following managers are directly responsible for getting product information from producers to consumers?

The first step in the control process is to compare actual performance to standards.

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

Which variable of SWOT analysis identifies changing consumer tastes,hostile takeover offers,and new government regulations?

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

The starting point in effective management is setting goals.

Define the term management.

The US 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 Itfor Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters