Exam 5: Managing the Business

A) The product requirements for the online collaboration tool are well understood now, but they may change as the project develops. Since we cannot tell what will be required, we must choose a manager whose skills are outstanding in every way.
B) It is clear that we need a large truck in order to move all of our office equipment. Therefore, we should choose the largest truck possible.
C) The project before us requires both human skills and conceptual skills. Therefore, we should appoint two managers: one with outstanding human skills and one with outstanding conceptual skills.
D) We need to choose a site for the sales conference. Choosing a place close to most employees' workplaces would save travel costs, but some employees also prefer to travel to an exotic location far away. Since it will be impossible to meet both goals, we should focus on the goal that is easier to accomplish.
E) The design of the new office building should impress visiting guests, but that should not be the dominant factor in our decision. Relatively few guests visit our offices. Instead, we should save money by choosing an energy-efficient design.

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A) first-line manager
B) middle manager
C) supervisory manager
D) office manager
E) financial managers

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Strategic plans reflect decisions about ...

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A) tactics
B) goals
C) strategies
D) mission statements
E) promotions

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A) human resource managers
B) public relations managers
C) information managers
D) marketing managers
E) financial managers

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A) What external changes present interesting possibilities?
B) What aspect of the organization's vision can be altered?
C) What necessary skills do the organization's employees currently lack?
D) What does the organization offer that makes it stand out from other organizations?
E) What external economic forces can affect the organization's bottom line?

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A) At the highest level, analysis of the company's environment highlights extensive change as the most effective response to its problems.
B) Lower-level employees develop informal groups to plan for change.
C) The firm sets up new systems for appraising and compensating employees who enforce the firm's new values.
D) Top management begins to formulate a vision of a new company.
E) Change is characterized by much conflict and resistance.

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A) top management
B) middle management
C) first-line management
D) operations management
E) human resource management

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A) guiding and motivating employees to meet organizational objectives
B) discussing how best to arrange an organization's resources into a coherent structure
C) scanning the business environment for threats and opportunities
D) determining what an organization needs to do and how best to get it done
E) monitoring a firm's performance to make sure that it is meeting its goals

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A) first-line managers
B) top managers
C) middle managers
D) marketing managers
E) financial managers

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A) When initiatives achieve especially strong results, employees often receive supplementary bonuses in excess of what is called for in their bonus plan.
B) Employees are not punished when initiatives fail due to changes in external environment that could not have been predicted.
C) Employees are often rewarded for successful initiatives even when the employees' efforts did not contribute to the success of the initiative.
D) Employees are rewarded for positive outcomes, but not punished for negative ones.
E) Employees are punished for negative outcomes, but not rewarded for positive ones.

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A) an objective that a business hopes and plans to achieve
B) a broad set of organizational plans for implementing decisions made for achieving organizational goals
C) the shared experiences, stories, beliefs, and norms that characterize an organization
D) an organization's statement of how it will achieve its purpose in the environment in which it conducts business
E) an organization's competitive standing in the marketplace

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

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A) strategy formulation
B) goal setting
C) crisis management
D) contingency planning
E) related diversification

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