Deck 2: Managing the Agribusiness

Question 1

Management is defined as the --------------and----------------- of successfully pursuing desired results with the resources available to the organization.

Answer 1

art science

Question 2

A ------------------------------- helps to spell out the direction for a firm and describes the destination.

Answer 2

mission statement

Question 3

------------------------------- are the specific quantitative or qualitative aims of the company or business group that provide direction and standards that can be used to measure performance.

Answer 3

Goals

Question 4

The ------------------------------- task represents monitoring the evaluation of activities.

Question 5

A management technique that holds the premise that managers should not spend time on areas that are progressing according to plan; but rather, concentrate on areas that are not progressing as planned is called -------------------------------.

Question 6

Three of the four key tasks of agribusiness managers are:

A) Planning, coordinating, directing
B) Directing, planning, communicating
C) Controlling, directing, planning
D) Motivating, controlling, directing

Question 7

The development of alternative plans for various possible business conditions is called:

A) Strategic planning
B) Tactical planning
C) Contingency planning
D) None of the above

Question 8

An organizational chart shows the formal organization structure of a company and captures ideas about:

A) Division of labor
B) Chain of command
C) Bureaucracy
D) All of the above

Question 9

A step-by-step guide to implement a policy for a specific activity is called a:

A) Practice
B) Role
C) Procedure
D) None of the above

Question 10

A mission statement usually includes three parts, which are:

A) Profits, contribution, market share
B) Distinction, contribution, profits
C) Market share, distinction, contribution
D) Key markets, contribution, distinction

Question 11

Strategic planning by top management in an agribusiness would include the following characteristic(s):

A) Written analysis
B) Broad
C) Long term
D) All of the above

Question 12

Control complements the other three tasks of management because it compensates for:

A) Misjudgments
B) The unexpected
C) The impact of change
D) All of the above

Question 13

Analysis of alternatives in decision-making should include:

A) Personal opinion
B) Only subjective measures
C) Objective measures
D) Astrology

Question 14

To be a good manager one must be:

A) A good communicator
B) A good motivator
C) Technically knowledgeable about the product or service
D) All of the above

Question 15

Setting up the structure, determining the jobs to be done, and defining lines of authority and responsibility are known as

A) Planning
B) Organizing
C) Directing
D) Controlling

Question 16

Tactical planning is focused on developing courses of action for the longer term.

Question 17

The last step in the planning process is to develop a means of implementing the plan.

Question 18

Organizing is defined as guiding the efforts of others toward achieving a common goal.

Question 19

Leadership in today's business environment is increasing in importance.

Question 20

Tactical planning is focused on what is done tomorrow, or next month, or next year, and can occur at any level in an organization.

Question 21

Forecasting change is a key element of good planning.

Question 22

Performance objectives provide the performance targets at the unit and/or individual levels that are needed to accomplish strategic goals.

Question 23

Well-stated goals should allow appraisal of the results contributed by each unit or person.

Question 24

The manner in which jobs are broken into components and then are assigned to members or groups is called the chain of command.

Question 25

Leadership only involves providing instructions on how to complete a task and information on the desired results.