Deck 1: Managing and Performing

Question 1

The most precious resources of an organization are people's expertise,skills,wisdom,and relationships.

Answer 1

True
Explanation: Knowledge management is about finding,unlocking,sharing,and altogether capitalizing on the most precious resources of an organization: people's expertise,skills,wisdom,and relationships.

Question 2

If an organization does not innovate,it will soon cease to exist.

Answer 2

True
Explanation: Products don't sell forever;in fact,they don't sell for nearly as long as they used to because so many competitors are introducing so many new products all the time.A firm must innovate,or it will die.

Question 3

Web 2.0 is redefining ways in which customers and sellers are sharing knowledge.

Answer 3

True
Explanation: Web 2.0 is not only a continuing reality,it is redefining the ways that customers and sellers,employees and employers are sharing knowledge.In 2003,tech guru Tim O'Reilly coined the term "Web 2.0" to describe the exciting new wave of social networking start-ups that allow users to publish and share information.

Question 4

It is not possible for a customer to collaborate with a company.

Question 5

An approach to achieving total quality includes preventing defects before they occur.

Question 6

Knowledge management is a set of practices aimed at discovering and harnessing the competition's intellectual resources.

Question 7

The fundamental success drivers of performance are leading,conceptualizing,emotional intelligence,and growth.

Question 8

Companies today must motivate and capitalize on the ideas of people outside the organization.

Question 9

Technology both complicates things and creates new opportunities.

Question 10

Technology has had only positive effects in the workplace,due to the tremendous opportunities it presents.

Question 11

Companies that want to grow should stay focused on domestic markets rather than on competing internationally.

Question 12

One of the ongoing challenges that characterize the current business landscape is globalization.

Question 13

Globalization affects both small and large companies.

Question 14

Globalization affects only large companies with overseas operations.

Question 15

A global company can be headquartered anywhere,but all employees come from the organization's home country.

Question 16

The key to understanding the success of a company is solely based on how much the industry in which it operates affects the society.

Question 17

In general,sustainability is defined as the excellence of a product.

Question 18

The need for innovation is driven in part by globalization.

Question 19

Effective collaboration can occur within but not outside an organization's boundaries.

Question 20

Innovation is the introduction of new goods and services.

Question 21

Cost competitiveness simply means pricing products lower than all competitors' products.

Question 22

Rising demand for resources,limited supplies,and changing social attitudes have contributed to the popularity of sustainable approaches to business.

Question 23

Today,customers value the quality of both physical goods and services.

Question 24

The best managers and companies focus primarily on one of the six dimensions of competitive advantage,such as cost alone or quality alone.

Question 25

In terms of good management,to be efficient is to achieve organizational goals.

Question 26

The organizing function of management is more dynamically described as delivering strategic value.

Question 27

Aesthetics,while important to customers,are not considered an aspect of quality.

Question 28

Value is strategic when it contributes to meeting an organization's goals.

Question 29

The management function of organizing refers to assembling and coordinating the resources needed to achieve goals.

Question 30

Controlling is one of the four traditional functions of management.

Question 31

In the future,organizing will include creating an organization chart and having a personnel department that administers plans,programs,and paperwork.

Question 32

One dimension of service quality is making it easy and enjoyable for customers to experience a service or to buy and use products.

Question 33

Efficiency is far more important than effectiveness in today's competitive environment.

Question 34

The Internet has made cost competitiveness a more important consideration for businesses.

Question 35

Done properly,sustainability allows people to live in ways that can be maintained for a short period without harming environmental resources.

Question 36

Leading involves monitoring performance and implementing necessary changes.

Question 37

In today's world,planning is a top-down function in which top executives establish business plans and tell others to implement them.

Question 38

Service is the speed and dependability with which an organization delivers what customers want.

Question 39

Planning,organizing,and leading often guarantee success.

Question 40

Corporate speed means being fast to respond to both your customers and the competition.

Question 41

Frontline managers often have titles such as supervisor or sales manager.

Question 42

Top-level managers are also known as tactical managers.

Question 43

The need for interpersonal and communication skills fades as a manager moves from the lower levels of an organization into the upper management arena.

Question 44

Emotional intelligence should be considered as a type of intelligence rather than a set of skills.

Question 45

_____ management is the set of practices aimed at discovering and harnessing an organization's intellectual resources-fully utilizing the intellects of the organization's people.

A) Knowledge
B) Scientific
C) Project
D) Service
E) Autocratic

Question 46

Social capital is the goodwill stemming from one's social relationships.

Question 47

The change from a local to a global marketplace is:

A) irrelevant to today's business environment.
B) irreversible.
C) not necessary to remain competitive.
D) slowing down.
E) no different than it has been over the last three decades.

Question 48

Which of the following is one of the ongoing challenges that characterize the current business landscape?

A) Uniformity of offerings
B) Technological change
C) Quality
D) Cost competitiveness
E) Speed

Question 49

It is sufficient for a manager to pay attention to one of the four management functions.

Question 50

Which of the following statements is true of collaboration?

A) Collaboration occurs only within the boundaries of an organization.
B) A sole focus on unit performance spurs collaboration.
C) It is unrealistic to think that a company can collaborate with its customers.
D) Companies should capitalize on ideas generated within the organization alone.
E) Collaboration is an important process of knowledge management.

Question 51

_____ is the introduction of new goods and services.

A) Collaboration
B) Vertical integration
C) Innovation
D) Adaptation
E) Introspection

Question 52

In today's work environment,one should focus solely on becoming a specialist because jobs are becoming so specialized.

Question 53

Conceptual and decision making skills become less important than technical skills as individuals grow in their career.

Question 54

In managing their career,it is important to know that now,more than ever,individuals will be held accountable for their actions and for results.

Question 55

_____ is defined as the excellence of a product.

A) Innovation
B) Quality
C) Demand
D) Value
E) Reliability

Question 56

Emotional intelligence involves the skills of understanding and managing oneself,and dealing effectively with others.

Question 57

Which of the following is true of services?

A) It includes intangible products like medical care.
B) It includes manufacturing high-quality goods.
C) It focuses on establishing short-term relationships.
D) Jobs based on services have been declining in recent years.
E) Insurance and haircuts are examples of tangible products.

Question 58

Which of the following is true of globalization?

A) Only small companies are affected by it.
B) Only large companies are affected by it.
C) A company's talent should come only from within the country.
D) A company's talent can come from anywhere.
E) The global marketplace is stable and unchanging.

Question 59

Which of the following statements is true about the Internet?

A) It has reduced threats to most businesses.
B) It drives down costs.
C) It does not influence globalization.
D) It slows down globalization.
E) It slows down decision making because large amounts of information are availablE.

Question 60

As managers rise higher in an organization,they will probably rely less on their technical skills.

Question 61

Cost competitiveness involves:

A) sacrificing quality to keep costs low.
B) increasing prices to boost profits.
C) pricing products at a level attractive to consumers.
D) managing costs by being effective.
E) offering high-quality products at higher prices.

Question 62

_____ is assembling and coordinating the human,financial,physical,informational,and other resources needed to achieve goals.

A) Benchmarking
B) Planning
C) Organizing
D) Optimizing
E) Quantifying

Question 63

Biomark Software Inc.has recently started operations as a business.The managers have already determined their objectives and have decided on the field of activity they will be dealing in.They have now started to attract people to work for them and have started determining the responsibilities of workers.Which of the following management functions are Biomark's managers performing?

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

Question 64

_____ is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.

A) Staffing
B) Forecasting
C) Organizing
D) Planning
E) Reporting

Question 65

Which of the following is one of the four fundamental traditional management functions?

A) Planning
B) Contracting
C) Outsourcing
D) Distributing
E) Innovating

Question 66

Planning involves:

A) analyzing current situations.
B) determining rewards for goals achievement.
C) attracting people to the organization.
D) motivating employees.
E) implementing necessary changes.

Question 67

Which of the following statements is true of the sources of competitive advantage?

A) The best companies choose one source of competitive advantage and perfect it.
B) Managing the sources of competitive advantage is a zero-sum game where one source suffers at the expense of the other.
C) It is possible to improve quality and also enhance speed.
D) Trade-offs do not occur among the six sources of competitive advantage.
E) Sustainability is the speed and dependability with which an organization delivers what customers want.

Question 68

A manager's ability to stimulate people to be high performers is referred to as _____.

A) planning
B) staffing
C) leading
D) controlling
E) monitoring

Question 69

_____ involves monitoring performance and making necessary changes.

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

Question 70

Lorenzo is a general manager for Perry Corp. ,a mechanical engineering firm.He is considering some changes to the production floor which include layout adjustments and the purchase of new equipment to improve efficiency.He also wants to promote one of his employees to a higher post of assistant manager.Which of the following functions of management is Lorenzo performing?

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

Question 71

Which of the following is true of speed as a success driver of organizational performance?

A) It is defined as the excellence of a product.
B) The requirement for speed has decreased with time.
C) Faster companies are more likely to be losers.
D) It separates the winners from the losers.
E) It is no longer considered as a strategic imperativE.

Question 72

The planning function in the new business environment can also be described more dynamically as:

A) building a dynamic organization.
B) delivering strategic value.
C) stimulating people to be high performers.
D) monitoring performance and implementing needed changes.
E) motivating workers to do their jobs effectively.

Question 73

In terms of good management,efficiency differs from effectiveness primarily in the former's focus on:

A) customer satisfaction.
B) shareholder profits.
C) customer retention.
D) employee turnover.
E) resource utilization.

Question 74

_____ allows people to live and work in ways that can be maintained over the long term without depleting or harming the environmental and economic resources.

A) Sustainability
B) Total quality
C) Innovation
D) Collaboration
E) Cost competitiveness

Question 75

Sustainability is defined as:

A) the fast and timely execution,response,and delivery of results.
B) the speed and dependability with which an organization delivers what customers want.
C) the introduction of new goods and services into the market.
D) the effort to minimize the use of resources,especially those that are polluting and non-renewable.
E) the minimization of costs to achieve profits and be able to offer prices that are attractive to consumers.

Question 76

Which of the following functions of management is described as building a dynamic organization?

A) Planning
B) Organizing
C) Leading
D) Controlling
E) Organizational staffing

Question 77

When Bethany,manager of First Step Telemarketing,realized that her plan to increase sales levels among associates was not producing the desired results,she made the necessary adjustments that would help yield better results.Which of the following management functions is illustrated in this scenario?

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

Question 78

The managers at Capturion Action Cameras are currently developing strategies for the company's new products and setting objectives for its business units.These managers are engaging in the management function of:

A) forecasting.
B) planning.
C) staffing.
D) organizing.
E) outsourcing.

Question 79

Through careful monitoring of the financial budgets of a firm,managers can detect potential problems in reaching their financial goals and take actions to reverse the problem.This is an example of the _____ function of management.

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

Question 80

As one of the key management functions,leading focuses on a manager's efforts to:

A) mobilize people to contribute their ideas.
B) build organizations that are flexible and adaptive.
C) make sure goals are met.
D) identify opportunities for sustainable advantage.
E) build a dynamic organization.