The four basic management functions are planning, organizing,
influencing, and controlling.
A) True
B) False
A
Planning is concerned with setting objectives for organizational
success, while controlling is concerned with monitoring the actual
performance of the organization's success.
A) True
B) False
A
________ refers to all the organizational assets available for
activation during the production process.
A) Strategies
B)
Technologies
C) Resources
D) Plans
E) Information
C
A manager is considered efficient and effective if the manager
________.
A) does not reach goals and wastes resources
B)
does not reach goals and does not waste resources
C) reaches
goals and wastes resources
D) wastes resources on unattainable
goals
E) reaches goals and does not waste resources
E
If a manager reaches goals but wastes resources doing so, the manager
is considered to be ________.
A) inefficient and
ineffective
B) effective and inefficient
C) efficient and
effective
D) neither effective nor ineffective
E)
ineffective and efficient
B
Management principles are considered to be universal because
________.
A) the principles of planning, organizing, influencing,
and controlling are the same across organizations
B) all
organizations have the same organizational hierarchy
C) employees
in all organizations have the same skill sets
D) organizational
goals and methods do not change from organization to
organization
E) production processes and strategies remain the
same across organizations
A
According to Robert Katz, applying specialized knowledge and
expertise to work-related techniques is a characteristic of
________.
A) strategic skills
B) human skills
C)
technical skills
D) interpersonal skills
E) conceptual skills
C
As a manager’s career advances from lower-level management to
upper-level management, conceptual skills become more important and
technical skills less important while at the same time their time
spent planning increases and daily leading of operational employees
decreases.
A) True
B) False
A
In building a career, an individual should be focused on ________ to
qualify for the next planned job and not simply taking a job with the
highest salary.
A) the application process
B) making the
most money
C) interviews
D) unit performance
E)
developing skills necessary
E
Which career stage is characterized by self-analysis and the
exploration of the different types of available jobs?
A)
exploration stage
B) career plateauing stage
C)
establishment stage
D) decline stage
E) maintenance stage
A
Which of the following demonstrates the correct sequence in the
stages of entrepreneurship?
A) Opportunity identification,
opportunity evaluation, opportunity exploitation
B) Opportunity
identification, opportunity exploitation, opportunity
evaluation
C) Opportunity evaluation, opportunity identification,
opportunity exploitation
D) Opportunity evaluation, opportunity
exploitation, opportunity identification
E) Opportunity
exploitation, opportunity evaluation, opportunity identification
A
Which of the following is an example of an opportunity that has
arisen from new uses for raw materials?
A) The invention of the
heart stent
B) An American bank providing services in
Canada
C) Raising chickens without using any antibiotics
D)
Using the Internet to sell a product
E) Using corn to produce ethanol
E
Although an opportunity may exist, it needs to be recognized first.
This is ________.
A) Opportunity feedback
B) Opportunity
evaluation
C) Opportunity exploitation
D) Opportunity
identification
E) Opportunity cost
D
Entrepreneurial alertness refers to an individual’s ability to notice
and be sensitive to new information about objects, incidents, and
patterns of behavior in the environment.
A) True
B) False
A
What will entrepreneurs study in a feasibility analysis?
A)
Customer demands, structure of the industry, ability to provide the
new product or service
B) Ways to increase production and cut
corners on costs
C) Strategic planning
D) The likelihood of
a product or service affecting the generation gap
E)
Entrepreneurial alertness
A
Research suggests that organizations started by entrepreneurial teams
tend to perform better than those started by individual entrepreneurs
working by themselves. What is this attributed to?
A) The new,
fresh mindset of entrepreneurs
B) Organizations started by teams
have more money
C) Individual organizations do not have the
manpower to help
D) The combination of diverse skills,
experiences, and relationships of the entrepreneurial team
members
E) Entrepreneurial teams use more research for start-up decisions
D
Entrepreneurs are most likely to exploit an opportunity when
________.
A) Customers are likely to continue using an existing
product
B) There is no market demand, but an opportunity to
create market demand
C) They perceive that they have the support
of important stakeholders
D) They want to enhance the prospects
of the opportunity by training an incapable management team
E)
They feel they do not have access to the resources needed to ensure
high levels of organizational performance
C
Which of the following is an example of an opportunity that arose
from the use of a new method of organizing?
A) Using corn to
produce ethanol
B) Using the Internet to sell a product
C)
Raising chickens without antibiotics
D) An American bank
providing services in Australia
E) The invention of the heart stent
B
When Nintendo Crescendo, an electronics company, develops and markets
the Wii gaming system, it is an opportunity that has arisen from a
________.
A) New product or service
B) New geographical
market
C) New method of production
D) New raw
material
E) New method of organizing
A
The ability of entrepreneurs to understand how to turn a new
technology into a product or service that will be valued by consumers
refers to the ability to assess ________.
A) Information
symmetry
B) Market research
C) Means-end
relationships
D) Social networks
E) Entrepreneurial risk
C
Social responsibility is the managerial obligation to take action
that protects and improves both the welfare of society and the
interests of the organization.
A) True
B) False
A
Any individual or group that is directly or indirectly affected by an
organization’s decisions is called a stakeholder.
A) True
B) False
A
Measuring the present socially responsible activities of an
organization to assess performance in those areas is known as a/an
________.
A) Social check
B) Social audit
C) Social
benchmark
D) Social target reading
E) Social responsive mark
B
When Apple donates computers for educational purposes, the company is
said to be working towards enhancing its ________ efforts.
A)
Redundant
B) Philanthropic
C) Obligation
D)
Educational
E) Philosophical
B
________ is the degree to which a person or an entity can meet its
present needs without compromising the ability of other people or
entities to meet their needs in the future.
A)
Accountability
B) Reliability
C) Sustainability
D)
Maintainability
E) Scalability
C
The three sustainability gauges for organizational development –
economy, environment, and society – considered collectively are
commonly referred to as the ________.
A) Triple
bottom-line
B) Triple threat
C) Long-term tests
D)
Global best practices
E) Protection areas
A
Which of the following suggests that an organization is acting
unethically?
A) The customers are unhappy with one of the
products manufactured by the organization.
B) The public
pressures legislators and other government officials to enforce
existing regulations.
C) The organization loses its customers to
competitors due to lack of after-sale services for its
products.
D) The public pressures the organization to conduct
social responsibility activities.
E) The union members of the
organization declare a strike to demand a hike in salaries.
B
________ is a formal statement that acts as a guide for the ethics of
how people within a particular organization should act and make
decisions.
A) A social audit
B) A whistle-blower’s
policy
C) Corporate governance
D) A code of ethics
E) A
mission statement
D
________ indicates that behavior can be considered ethical if it
provides the most good for the greatest number of people.
A) The
golden rule
B) The deontological principle
C) The
utilitarian standard
D) The virtue standard
E) The Kantian principle
C
A whistle-blower is ________.
A) The employee who reports the
alleged activities of the firm
B) The customer who files a
product liability suit against the firm
C) The business lawyer
who protects the firm against lawsuits
D) The employee who
performs the unethical or illegal activity in the firm
E) The
manager who protects the employee who reports the alleged activities
of the firm
A
The process of determining how an organization can get where it wants
to go and what it will do to accomplish its objectives is known as
________.
A) Organizing
B) Influencing
C)
Planning
D) Controlling
E) Analyzing
C
A potential disadvantage of planning is that it can take up too much
managerial time.
A) True
B) False
A
A single-use financial plan that covers a specified length of time is
known as a(n) ________.
A) Offshoot
B) Microsystem
C)
Spinoff
D) Subsystem
E) Budget
E
Alisa is trying to determine how to get her employees more involved
in the company’s plans and goals. Which one of the following actions
could she take as she begins identifying the goals for her department
for the upcoming year?
A) Tell employees which goals they will be
working on.
B) Have employees vote on the goals for the
organization.
C) Assign goals randomly to employees.
D) Let
the people responsible for attaining the objectives have a voice in
setting them.
E) Let upper management set all departmental goals.
D
Which one of the following steps in the planning process should
precede the others?
A) Develop premises upon which each
alternative is based
B) Develop plans to pursue the chosen
alternative
C) List alternative ways of reaching
objectives
D) Choose the best alternative for reaching
objectives
E) Put plans into action
C
Premises are the assumptions upon which alternatives to reaching
organizational objectives are based.
A) True
B) False
A
It is important for an organization to ensure that the objectives set
for its employees are ________.
A) Unrealistically high
B)
Within easy reach
C) Low
D) Within reach, but not easy
reach
E) Out of reach
D
According to Drucker, which one of the following key areas for
organizational objectives is more personal and subjective in nature,
and hence likely to arouse managerial opposition?
A)
Productivity
B) Innovation
C) Worker performance and
attitude
D) Physical and financial resources
E) Market standing
C
When using PERT, the sequence of events requiring the longest period
of time is considered to be critical because one delay in the
activities results in delays in the completion of a project.
A)
True
B) False
A
________ is a standing plan that designates specific required
action.
A) A resource
B) A rule
C) A budget
D) A
strategy
E) A responsibility
B
Long-range planning that focuses on the organization as a whole is
________.
A) Operational planning
B) Organizational
planning
C) Strategic planning
D) Tactical planning
E)
Managerial planning
C
The first step of strategic management is designed to
________.
A) Establish an organizational direction
B)
Formulate strategy
C) Study the organizational
environment
D) Advise managers to commit funds for
planning
E) Control the environment
C
The lobbying of government by interest groups is an example of the
________ component of the general environment.
A) Social
B)
Political
C) Legal
D) Technological
E) International
B
According to Porter, the threat of new entrants refers to
________.
A) The power that customers have over the firms
B)
The power that suppliers have over the firms
C) The extent to
which customers may use services from another industry instead of the
focal industry
D) The ability of new firms to enter an
industry
E) The intensity of the rules of an organization
D
A summer storm just passed through the town of Chester Oaks and
caused much roofing and siding damage to homes. This storm offers a(n)
________ to those offering roofing and siding services.
A)
Strength
B) Weakness
C) Opportunity
D) Threat
E)
Force fulfillment
C
The document that is written by management and describes and explains
what the purpose for which the organization exists is the
________.
A) Mission statement
B) Strategic plan
C)
Operating plan
D) Annual budget
E) Vision statement
A
Jewel Delight is planning to compete using a differentiation
strategy. Doing this means they will have what kind of products in
their jewelry stores?
A) Basic, no-frills jewelry
offerings
B) Highly unique jewelry offerings
C) One line of
jewelry
D) Comparable jewelry their competitors offer
E)
Easily imitable jewelry offerings
B
An SBU with a large market share of a low-growth market is a
________.
A) Star
B) Dog
C) Cash cow
D) Question
mark
E) Low-cost leader
C
________ is a strategy adopted by management to increase the amount
of business that an SBU is currently generating.
A)
Differentiation
B) Divestiture
C) Retrenchment
D)
Growth
E) Focus
D
Because strategic planning focuses on the long term and tactical
planning on the short term, strategic plans cover a relatively long
period of time, whereas tactical plans cover a relatively short period
of time.
A) True
B) False
A