Reference no: EM132274081

True or False

1. The four contemporary management processes are planning, organizing, leading, and commanding.

2. In Mintzberg's view, the roles of figurehead, leader, and liaison are all interpersonal roles.

3. The Hawthorne studies suggested that groups could influence the productivity of an individual.

4.) This payoff matrix gives values for strategies S1, S2, and S3 for the Bigg Company and competitive strategies CA1, CA2, and CA3 for the Large Company. From Bigg's point of view, the S1 maximum regret for CA1 is 8.

1. CA1    CA2    CA3

S1       8         5      12

S2       9        14       3

S3      16        13      20

5. Planning provides direction to managers and nonmanagers alike.

6. SWOT analysis includes the identification of an organization's strengths, weaknesses, opportunities, and threats.

7. The key to MBO, or management by objectives, is that managers and subordinates mutually agree on goals.

8. One assumption of bounded rationality is that managers can analyze all relevant information about all alternatives for a situation.

9. Multinational corporations maintain significant operations in two or more countries simultaneously.

10. Currently, almost 50 percent of Fortune 500 companies are headed by women.

11. According to Hofstede, countries such as Singapore and Japan are more collectivist than the United States.

12. The classical view of organizational social responsibility is that management's only social responsibility is to maximize profits.

13. A utilitarian view of ethics focuses on consequences and the greatest good for the greatest number of people.

14. Workplace diversity focuses on the differences between people, but not their similarities.

15. Prior to the recession that began in 2008, many businesses became highly leveraged, which is another term for a company with a high debt-to-assets ratio.

 Single Choice 

1. The primary job of a manager is to ________.

A) make decisions that help an organization grow

B) tackle tasks that are too difficult for nonmanagerial employees

C) coordinate between organization leaders and ordinary employees

D) direct and oversee the work of others

2. Taylor began to develop his theory of ________ after a result of viewing workers in steel companies.

A) the functions of management

B) ethics-based management

C) management skills

D) scientific management

3. Organizing includes ________.

A) defining organizational goals

B) resolving conflicts

C) motivating organizational members

D) determining who does what tasks

4. All of the following are examples of informational roles according to Mintzberg EXCEPT ________.

A) entrepreneur

B) monitor

C) disseminator

D) spokesperson

5. Adam Smith's Wealth of Nations was first published in the same ________ as the Declaration of Independence.

A) city

B) year

C) publishing house

D) country

6. Which role does uncertainty typically play in how managers function?

A) Uncertainty limits the amount of information that is available.

B) Uncertainty increases the amount of information that is available.

C) Uncertainty improves the quality of information that is available.

D) Uncertainty enhances the information that is available.

7. Which of the following is NOT a reason for managers to plan?

A) to give direction to an organization

B) to deal with change

C) to establish goals

D) to establish responsibility for mistakes

8. Studies of performance in organizations that plan have reached ________ with respect to the benefits of formal planning.

A) somewhat negative conclusions

B) no conclusion

C) extremely negative conclusions

D) generally positive conclusions

9. SWOT analysis combines ________.

A) a company's mission with its goals

B) external and internal analyses

C) a company's philosophy with its ethics

D) profit with productivity

10. In forward vertical integration, a company becomes its own ________, while in backward vertical integration, the company is its own ________.

A) supplier; distributor

B) supplier; customer

C) distributor; monitor

D) distributor; supplier

11. Which of the following makes up the three main types of corporate strategies?

A) growth, vertical integration, horizontal integration

B) growth, retrenchment, renewal

C) renewal, retrenchment, diversification

D) growth, stability, renewal

12. Growth strategies include ________.

A) diversification, concentration, integration, stabilization

B) vertical integration, horizontal integration, concentration, diversification

C) vertical integration, horizontal integration, lateral integration, horizontal concentration

D) integration, allocation, horizontal diversification, vertical diversification

13. When Google purchased YouTube, a company that featured different, but related products, Google was engaging in which of the following?

A) concentration

B) forward vertical integration

C) backward vertical integration

D) diversification

14. A company that is on the verge of collapse or bankruptcy might employ this strategy.

A) retrenchment

B) incremental improvement

C) turnaround

D) hunker down

15. Which of the following best defines plans?

A) documents that identify company problems

B) documents that define goals

C) documents that describe how goals will be met

D) documents that identify how goals from the past were met

16. In addition to being made by both managers and employees, MBO goals must be ________.

A) nonspecific and open-ended with regard to time

B) specific and open-ended with regard to time

C) specific and include an explicit time limit

D) nonspecific and include no time limit

17. Which goal-setting sequence is correct for the following steps?

1. Evaluate resources.

2. Identify goals.

3. Review the mission and job tasks.

4. Communicate goals.

5. Link rewards to goals.

6. Build feedback mechanisms.

A) 1, 2, 4, 6, 3, 5

B) 4, 2, 5, 3, 1, 6

C) 3, 4, 2, 6, 5, 1

D) 3, 1, 2, 4, 6, 5

18. Which of the following defines the time frame of a long-term plan?

A) over seven years

B) over three years

C) under three years

D) over one year

19. To identify a problem, a manager ________.

A) compares one set of standards or goals to a second set of standards or goals

B) looks for unhappy customers

C) uses intuition to see that things don't look right

D) compares the current state of affairs with some standard or goal

20. In allocating weights to the decision criteria, which of the following is most helpful to remember?

A) All weights must be the same.

B) The total of the weights must equal 100.

C) The high score should be a 10, and no two criteria should be assigned the same weight.

D) Assign the most important criterion a score, and then assign weights against that standard.

21. A scientist cites two studies that show a positive effect for her drug and ignores five other studies that show a negative effect. Which error or bias is she committing?

A) hindsight

B) anchoring effect

C) confirmation bias

D) self-serving

22. Maximizing value for an organization means making sure that ________.

A) the organization makes money

B) the best interests of the organization are addressed

C) the decision made is as rational as possible

D) the decision is as simple as possible

23. This payoff matrix gives potential dollar gain values in thousands for strategies S1, S2, S3, and S4 for Sam's Pizza and competitive strategies CA1, CA2, and CA3 for Pam's Pizza. If Sam chooses S4, how is he feeling about the business climate?

1.       CA1      CA2      CA3

S1       13         14         7

S2        7         17        12

S3       31         29         4

S4       20         12        21

A) Sam is feeling optimistic because he has chosen a maximize strategy.

B) Sam is feeling pessimistic because he has chosen a maximum strategy.

C) Sam is feeling optimistic because he has chosen a maximum strategy.

D) Sam is feeling pessimistic because he has chosen a maximize strategy.

24. Which of the following best defines regret in a payoff matrix?

A) Regret refers to the difference of the sum of the values in a chosen strategy and the sum of the best strategy.

B) Regret refers to the difference of the sum of the values in a chosen strategy and the sum of the worst strategy.

C) Regret refers to the sum total of the sum of the values in a chosen strategy and the sum of the best strategy.

D) Regret refers to the extra amount of money that could have been made had the person chosen a different strategy.

25. When did global trade first make its appearance?

A) in the late 1980s and early 1990s

B) in the 21st century

C) several centuries ago

D) during the Bronze age

26. Joint ventures are a type of ________.

A) license

B) franchise

C) foreign subsidiary

D) strategic alliance

27. A country with a high uncertainty avoidance ________.

A) is highly structured and depends on rules and social institutions to cope with uncertainty

B) is highly structured and does not depend on rules and social institutions to cope with uncertainty

C) has no rules

D) has no structure or social institutions

28. Which of the following is not involved with the demograpic component of an organization's external environment?

A) values

B) gender

C) race

D) income