Question 1

Managing your costs and keeping them down requires being

Accepted Answer

A)  effective. 
B)  fast. 
C)  mindful of high service requirements. 
D)  efficient. 
E)  collaborative.

Question 2

Being self-reliant means

Accepted Answer

A)  to take full responsibility for yourself, your actions, and your career. 
B)  responding when others have innovative ideas. 
C)  always waiting for orders from higher in the organization. 
D)  knowing that the organization will manage your career. 
E)  responding before orders come from higher in the organization.

Question 3

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

Accepted Answer

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 improves at the expense of the other. 
C)  It is possible to improve quality and also enhance speed. 
D)  Outsourcing certain functions is likely to decrease innovation. 
E)  The faster the product is provided the more innovation suffers.

Question 4

Scenario A. Naturally Yours, Inc. is a new brand of organic clothing recently introduced throughout the world. The company is unique in that it has collaborated with its suppliers and largest potential customers to bring the clothing to market. The concept has been a huge success as the idea of sustainability is becoming more "main stream" especially in developed countries. The quick growth in sales has lead Naomi and Yolanda, the company founders, to look to your consulting company for help in assuring the future success of the company.
-Naomi and Yolanda have always focused on being efficient managers. What is the best advice you should give them, given the quick success they have had with Naturally Yours and the information provided in the scenario?

Accepted Answer

A)  Efficiency is the only key to their continued success. 
B)  Now it is time for them to consider only effectiveness, since they clearly have efficiency under control and this is not likely to change in the future. 
C)  To continue their success they should maintain a clear focus on both effectiveness and efficiency especially while their company is experiencing such a high growth in sales. 
D)  Now would be the perfect time to buy beautiful homes for their families since they have earned it. 
E)  As the top-level managers the best action plan for them is to carefully design the new items to assure these items are well accepted by the target consumers.

Question 5

______________ skills influence a manager's ability to work well with people.

Accepted Answer

A)  Decisional 
B)  Technical 
C)  Interpersonal 
D)  Professional 
E)  Conceptual

Question 6

Tactical managers are often referred to as

Accepted Answer

A)  center managers. 
B)  middle-level managers. 
C)  lower-level managers. 
D)  operational managers. 
E)  upper-middle managers.

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements about the Internet is true?

Accepted Answer

A)  The Internet always makes things easier. 
B)  The Internet drives down costs. 
C)  The Internet's only impact is on business as a whole. 
D)  All email messages are emergencies. 
E)  People connected to the Internet should respond to email messages immediately.

Question 9

__________--rapid execution, response, and delivery of results-often separates the winners from the losers.

Accepted Answer

A)  Service 
B)  Quality 
C)  Innovation 
D)  Speed 
E)  Competitiveness

Question 10

Scenario B. Suppose you are interviewing the CEO of a large company. The CEO is telling you about his/her job as a manager and how he/she spends time. Using the descriptions below, which function of management is the CEO most likely describing in each of the examples?
-"My days are filled with opportunities to ask if we are meeting our goals, wondering if things are going as we planned and making adjustments where needed."

Accepted Answer

A)  planning 
B)  organizing 
C)  leading 
D)  controlling 
E)  decision making

Question 11

"We have moved from an economy of hands to an economy of heads". Do you agree with this statement? Explain.

Accepted Answer

The answer of "We have moved from an economy of...

Question 12

CEO, President, COO and Vice President are all titles typical of which level of management?

Accepted Answer

A)  Strategic 
B)  Tactical 
C)  Operational 
D)  Functional 
E)  Regional

Question 13

Which of the following statements about collaboration is true?

Accepted Answer

A)  Collaboration occurs only within the boundaries of the organization. 
B)  It is unrealistic to think that the company can collaborate with its customers. 
C)  Disclosing your plans by collaborating with potential investors in your firm is not a good idea. 
D)  Collaboration is an important process of knowledge management. 
E)  Collaboration outside of the organization is out of the question because of the risk of disclosing trade secrets.

Question 14

Social capital is the goodwill stemming from your social relationships.

Accepted Answer

A) True 
 B)False

Question 15

Goodwill stemming from social relationships is called

Accepted Answer

A)  social empathy. 
B)  social capital. 
C)  emotional intelligence. 
D)  emotional capital. 
E)  empathetic goodwill.

Question 16

List and describe several ways organizations collaborate across boundaries.

Accepted Answer

The answer of List and describe several ways organizations collaborate...

Question 17

Which of the following represent skills that managers need?

Accepted Answer

A)  Interpersonal & communication, conceptual & decision, and professional 
B)  Technical, interpersonal & communication and conceptual & decision 
C)  Professional, technical, and interpersonal & communication 
D)  Conceptual & decision, professional and technical 
E)  Professional, technical, and conceptual & decision

Question 18

If an organization does not innovate, it will die.

Accepted Answer

A) True 
 B)False

Question 19

Cost competitiveness means that you

Accepted Answer

A)  sacrifice quality to keep costs low. 
B)  carefully monitor costs mainly during the start-up of business. 
C)  price your product or service at a level attractive to consumers. 
D)  manage your costs by being effective. 
E)  offer a high quality product at a higher price.

Question 20

Scenario C. As a management researcher, you are studying management behaviors and the roles that managers play. Your field work takes you to Puffy Treats, a local cream puff bakery in your university's city, to "shadow" the manager for a day. At the end of the day, there are three events that really caught your attention. First, at an early meeting with the Puffy Treats employees, the manager notified the employees of a pending lay-off. This news was met with a great deal of anxiety on the part of the employees even though the manager was as kind as she could be when delivering the news. One employee reacted very angrily and became so disruptive that the manager had to call the local police to have her escorted out of the shop. Later in the day, the manager made a call to a supplier to find out if anything "new and interesting" was going on in the bakery industry. Finally, after work, the manager left to attend an employee's wedding.
-When the manager attends the employee's wedding, which of the managerial roles is the manager of Puffy Treats performing?

Accepted Answer

A)  Liaison 
B)  Figurehead 
C)  Spokesperson 
D)  Entrepreneur 
E)  Disturbance handler

Exam 1: Managing in a Global World

Managing your costs and keeping them down requires being

Being self-reliant means

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

______________ skills influence a manager's ability to work well with people.

Tactical managers are often referred to as

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

Which of the following statements about the Internet is true?

__________--rapid execution, response, and delivery of results-often separates the winners from the losers.

"We have moved from an economy of hands to an economy of heads". Do you agree with this statement? Explain.

CEO, President, COO and Vice President are all titles typical of which level of management?

Which of the following statements about collaboration is true?

Social capital is the goodwill stemming from your social relationships.

Goodwill stemming from social relationships is called

List and describe several ways organizations collaborate across boundaries.

Which of the following represent skills that managers need?

If an organization does not innovate, it will die.

Cost competitiveness means that you