Deck 1: Management and Entrepreneurship

Question 1

In a Wall Street Journal Gallup survey,top executives identified leadership ability as the most important trait for successful managers.

Answer 1

False

Question 2

Planning is typically the second step in the management process.

Answer 2

False

Question 3

The manager's resources are human,financial,and physical.

Answer 3

False

Question 4

Interpersonal skills involve the ability to understand,communicate,and work well with individuals and groups through developing effective relationships.

Question 5

Organizing is the process of delegating and coordinating tasks and allocating resources to achieve objectives.

Question 6

The three levels of management are top managers,middle managers,and nonmanagement operative employees.

Question 7

The level of organizational performance is unrelated to how effectively and efficiently managers utilize resources to achieve objectives.

Question 8

There are basically four levels of management.

Question 9

A manager is responsible for achieving organizational objectives through efficient and effective utilization of resources.

Question 10

A manager is responsible for achieving organizational objectives through efficient and effective utilization of personal ability.

Question 11

Leading is the process of ordering employees to perform particular tasks.

Question 12

Decision-making skills are based on the ability to conceptualize situations and select alternatives to solve problems and take advantage of opportunities.

Question 13

There are three basic management functions.

Question 14

Technical skills involve the ability to use methods and techniques to perform a task.

Question 15

The three skills that managers need are technical,interpersonal,and analytical skills.

Question 16

Interpersonal skills are based on strong conceptual skills.

Question 17

The three management role categories are interpersonal,informational,and decisional roles.

Question 18

A manager needs technical,interpersonal,and decision-making skills.

Question 19

Controlling is the process of establishing and implementing mechanisms to ensure that objectives are achieved.

Question 20

The four management functions are planning,organizing,leading,and controlling.

Question 21

There are very few Web sites dedicated to providing information related to developing a business plan.

Question 22

Nearly half of new venture ideas stem from previous work experience.

Question 23

A first-mover advantage specifies how an organization offers unique customer value.

Question 24

All three levels of management use all three management skills to some degree.

Question 25

Different functions,skills,and roles can be expected when managing in a for-profit organization versus managing in a not-for-profit organization.

Question 26

A first-mover advantage refers to offering a unique customer value before competitors do so.

Question 27

A small business is defined as a company that is publicly owned and operated,with a small number of employees and relatively low volume of sales.

Question 28

Large businesses commonly acquire small businesses to gain innovations.

Question 29

A competitive advantage specifies how an organization offers unique customer value.

Question 30

When a company offers a unique customer value before competitors do so,it's referred to as a first-mover advantage.

Question 31

The first step to entrepreneurship is to select the new venture or the industry in which the business will compete.

Question 32

A business plan is a written description of a new venture-its objectives and the steps for achieving them.

Question 33

Learning organizations have everyone engaged in identifying and solving problems,enabling change,and continuous improvement.

Question 34

Much of the creativity and innovation in society comes from entrepreneurs.

Question 35

Intrapreneurs commonly start a new small business venture,while entrepreneurs commonly start a new line of business within a large organization.

Question 36

Small businesses are the primary suppliers and distributors of products for large businesses.

Question 37

One difference between a manager's job in for-profit organizations versus not-for-profit organizations is that the primary measure of performance in for-profit organizations is bottom-line profit.

Question 38

Intrapreneurs commonly have more risk than entrepreneurs.

Question 39

Knowledge management involves everyone in an organization in sharing knowledge and applying it to continuously improve products and processes.

Question 40

General,functional,and project managers perform basically the same tasks.

Question 41

__________ is the process of setting objectives and determining in advance exactly how the objectives will be met.

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

Question 42

Which of the following is the best example of being efficient?

A) doing more than others
B) doing more than in the past
C) doing things right
D) doing the right thing

Question 43

Which of the following are requisite management skills?

A) technical skills
B) interpersonal skills
C) decision-making skills
D) all of these

Question 44

A manager is responsible for achieving organizational objectives through:

A) controlling the process.
B) efficient and effective utilization of resources.
C) planning and controlling.
D) personal effort.

Question 45

According to Ghiselli,the number-one trait that contributes to successful management is:

A) intelligence.
B) self-assurance.
C) decisiveness.
D) supervisory ability.

Question 46

All the following are management skills EXCEPT:

A) technical skills.
B) interpersonal skills.
C) psychological skills.
D) decision-making skills.

Question 47

The management function of __________ involves delegating and coordinating tasks and allocating resources to achieve objectives.

A) controlling
B) organizing
C) leading
D) planning

Question 48

An important part of __________ is staffing.

A) planning
B) controlling
C) leading
D) organizing

Question 49

A manager is responsible for achieving:

A) his or her objectives for the organization.
B) the objectives established by governmental leaders.
C) the organization's objectives.
D) the objectives which are common to the manager's industry.

Question 50

__________ is the process of influencing employees to work toward achieving objectives.

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

Question 51

Which of the following statements is TRUE regarding technical skills?

A) Managers need only skills regarding people; subordinates do all the technical work.
B) Most employees are promoted to their first management position primarily because of their technical skills.
C) Technical skills are used mostly by top management.
D) Technical skills are used mostly by middle management.

Question 52

The four management functions are:

A) planning, organizing, supervising, and controlling.
B) planning, organizing, leading, and feedback.
C) planning, directing, leading, and controlling.
D) planning, organizing, leading, and controlling.

Question 53

The level of organizational performance is based on:

A) how effectively and efficiently managers utilize resources to achieve objectives.
B) how well efforts are coordinated.
C) the innate ability of employees.
D) how well a manager stays within the budget.

Question 54

__________ skills involve the ability to use methods and techniques to perform a task.

A) Decision-making
B) Interpersonal
C) Technical
D) Communication

Question 55

__________ skills involve the ability to understand,communicate,and work well with individuals and groups through developing effective relationships.

A) Interpersonal
B) Decision-making
C) Technical
D) Team-building

Question 56

All of the following are manager's resources EXCEPT:

A) human resources.
B) financial resources.
C) physical resources.
D) technical resources.

Question 57

The ability to conceptualize situations and select alternatives to solve problems and take advantage of opportunities is:

A) technical skills.
B) interpersonal skills.
C) decision-making skills.
D) the classical decision-making model.

Question 58

Which of the following is the best example of being effective?

A) doing more than others
B) doing more than in the past
C) doing things right
D) doing the right thing

Question 59

A manager is responsible for:

A) setting organizational objectives.
B) determining organizational needs.
C) achieving organizational objectives.
D) administering discipline in the workplace.

Question 60

__________ is the process of delegating and coordinating tasks and allocating resources to achieve objectives.

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

Question 61

Which of the following is an example of a managerial informational role?

A) leader
B) liaison
C) monitor
D) negotiator

Question 62

The three management role categories are:

A) interpersonal roles, informational roles, and decisional roles.
B) interpersonal roles, operational roles, and decisional roles.
C) interpersonal roles, informational roles, and operational roles.
D) external roles, informational roles, and decisional roles.

Question 63

A functional manager:

A) coordinates employees and other resources across several functional departments to accomplish a specific task.
B) supervises the activities of several departments that perform different activities.
C) supervises activities in areas such as marketing, operations/production, finance/accounting, and human resources/personnel management.
D) supervises nonmanagement operative employees only.

Question 64

Middle managers are:

A) general managers.
B) functional managers.
C) project managers.
D) both general and functional managers.

Question 65

A management role is:

A) based on the manager's supervisor ability.
B) a set of expectations of how one will behave in a given situation.
C) performed by top management only.
D) performed by middle management only.

Question 66

In training others,one is performing a __________ role.

A) leader
B) liaison
C) figurehead
D) spokesperson

Question 67

The three levels of management are:

A) top managers, middle managers, and nonmanagement operative employees.
B) top managers, middle managers, and first-line managers.
C) executives, middle managers, and nonmanagement operative employees.
D) executives, middle managers, and first-line managers.

Question 68

All of the following are management role categories EXCEPT:

A) interpersonal roles.
B) informational roles.
C) decisional roles.
D) technical roles.

Question 69

The management function of __________ involves influencing employees to work toward achieving objectives.

A) planning
B) organizing
C) leading
D) controlling

Question 70

A general manager:

A) coordinates employees and other resources across several functional departments to accomplish a specific task.
B) supervises the activities of several departments that perform different activities.
C) supervises activities in areas such as marketing, operations/production, finance/accounting, and human resources/personnel management.
D) is another name for top management.

Question 71

The hierarchy of skills managers need,starting with first-line managers,is:

A) technical skills, decision-making skills, and interpersonal skills.
B) interpersonal skills, technical skills, and decision-making skills.
C) technical skills, interpersonal skills, and decision-making skills.
D) interpersonal skills, decision-making skills, and technical skills.

Question 72

In comparison to top and middle managers,first-line managers spend more time __________ and __________.

A) planning; organizing
B) leading; controlling
C) organizing; controlling
D) planning; leading

Question 73

Which of the following is an example of a managerial decisional role?

A) leader
B) spokesperson
C) monitor
D) negotiator

Question 74

Which of the following statements is TRUE regarding the primary management skills needed by top-level managers?

A) They have a greater need for technical and decision-making skills.
B) They have a greater need for technical and interpersonal skills.
C) They have a greater need for decision-making and interpersonal skills.
D) They tend to have a balanced need for technical, interpersonal, and decision-making skills.

Question 75

The three types of managers are:

A) general managers, functional managers, and project managers.
B) general managers, functional managers, and specific managers.
C) functional managers, project managers, and specific managers.
D) functional managers, project managers, and staff managers.

Question 76

The management function of __________ involves establishing and implementing mechanisms to ensure that objectives are achieved.

A) controlling
B) leading
C) organizing
D) planning

Question 77

Which of the following is NOT a type of manager?

A) general manager
B) functional manager
C) project manager
D) conceptual manager

Question 78

__________ is the process of establishing and implementing mechanisms to ensure that objectives are achieved.

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

Question 79

There are __________ levels of management.

A) two
B) three
C) four
D) five

Question 80

Which of the following is an example of a managerial interpersonal role?

A) figurehead
B) disseminator
C) disturbance handler
D) negotiator