Deck 5: Managing for Business Success

Question 1

A SWOT analysis defines what an organization stands for.

Answer 1

False

Question 2

10 Peggy McLaughlin runs an ice cream shop.She is determining how many employees should work next week and at what times.She is performing which management function?

A)organizing
B)directing
C)controlling
D)planning

Answer 2

A

Question 3

Tim is the manager of a shoe manufacturing company that staffs 100 workers.The company receives an emergency bulk order for 3,000 pairs of shoes to be delivered in 3 days.Tim encourages the workers to finish the assignment on time by providing them an extra day off and overtime wages.Which of the following management functions does Tim perform to motivate the employees to complete the order on time?

A)directing
B)organizing
C)analyzing
D)controlling

Answer 3

A

Question 4

Wendy's public?relations team responded quickly to counteract the effects of bad publicity when a diner claimed that she'd found a fingertip in a bowl of chili.

Question 5

Describe the four functions that managers perform.

Question 6

Core values are the fundamental beliefs about what's important and what is and isn't appropriate in conducting company activities.

Question 7

9Which of the following is not one of the four primary functions of management?

A)organizing
B)budgeting
C)planning
D)directing

Question 8

When performing the management _____ function, managers measure the results of operations and compare them with the results they had laid out in their original goals.

A)directing
B)organizing
C)analyzing
D)controlling

Question 9

The mission statement describes the purpose of your organization-the reason for its existence.

Question 10

Although a _____ allows managers to take the business concept beyond the idea stage, it doesn't accomplish the actual work.

A)plan
B)vision
C)mission
D)goal

Question 11

When a manager motivates employees to achieve organizational goals he or she is engaging in the management function of directing.

Question 12

Operational plans are broken down into various tactical plans that provide detailed action steps to be taken.

Question 13

An organization needs ____ because they create more efficiency and effectiveness.

A)owners
B)managers
C)employers
D)team leaders

Question 14

Generating an idea and establishing an overall course of action for the long term is known as strategic planning.

Question 15

Core values describe the purpose of your organization and the reason for its existence.

Question 16

The management function of planning entails allocating resources (people, equipment and money) to carry out the company's plans.

Question 17

In developing tactical plans, managers identify those aspects of the business that are most likely to be adversely affected by change.

Question 18

To control operations, managers measure the actual results and compare them with the results that were laid out in the original plan.

Question 19

Management is the process of planning, organizing, directing and controlling resources to achieve specific goals.

Question 20

In setting strategic goals and performance objectives, Joan Rivers of DayMark Solutions would develop an overall course of action.

Question 21

In performing the _____ function, managers set goals and determine the best way to achieve them.

A)organizing
B)directing
C)planning
D)controlling

Question 22

The traditional planning process begins at the _____ level of an organization.

A)motivational
B)grass roots
C)top
D)operational

Question 23

Assessing a company's strengths, weaknesses, opportunities, and threats usually takes place during the process of _____ planning.

A)tactical
B)contingency
C)operational
D)strategic

Question 24

_____ are major accomplishments that a company plans to achieve over a long period of time, generally five years.

A)Objectives
B)Goals
C)Tactical plans
D)Operational plans

Question 25

Step one in planning a business, usually called _____, is the process of establishing an overall course of action.

A)strategic planning
B)operational planning
C)contingency planning
D)tactical planning

Question 26

Mary Kay Inc.'s _____ states that the organization is committed "To enrich the lives of women around the world."

A)vision statement
B)mission statement
C)core values statement
D)competencies analysis

Question 27

Build-A-Bear Workshop's stated _____ include Di-bear-sity, Colla-bear-ate, Cele-bear-ate, reach, and tell employees exactly what behaviors are acceptable.

A)ethics objectives
B)core plans
C)core values
D)ethics goals

Question 28

Johnson & Johnson's _____ states what the organization is generally committed to doing.

A)mission statement
B)customer profile
C)SWOT analysis
D)values and core beliefs statement

Question 29

In commenting on his company's responsibility for a massive oil spill in the Gulf of Mexico, Tony Hayward (CEO of BP) stated: "There's no one who wants this over more than I do.I would like my life back." This is an example of:

A)lack of strategic planning
B)poor crisis management
C)Ineffective contingency planning
D)failure to set goals

Question 30

Objectives are major accomplishments that the company wants to achieve over a long period of time.

Question 31

A common approach to environmental analysis, called _____ analysis, entails matching a company's strengths with its available opportunities.

A)SWOT
B)SNOOP
C)GATT
D)SOWHAT

Question 32

The best time for management to practice crisis management is when a crisis occurs in their company.

Question 33

The statement "The company forecasts sales of $20,000 and profit of $2,000 for the first 12 months of operations" is characterized as a _____.

A)functional goal
B)matrix objective
C)company objective
D)quantifiable goal

Question 34

A SWOT analysis begins by examining _____ factors that could influence a company in either a positive or negative way.

A)competitive
B)functional
C)internal
D)external

Question 35

_____ planning means identifying those aspects of a business that are most likely to be adversely affected by change.

A)Contingency
B)Tactical
C)Opportunity
D)Seat of the pants

Question 36

The company's _____ team led Wendy's response when a diner claimed to have found a fingertip in her chili.

A)complaint management
B)crisis management
C)contingency planning
D)strategic planning

Question 37

_____ are shorter-term performance targets that direct the activities of an organization.

A)Goals
B)Objectives
C)Tactical plans
D)Operational plans

Question 38

When Starbucks' profits fell by 77% in 2009, Howard Schultz attributed this drop in profits to:

A)his rapid growth strategy
B)competition from Dunkin Donuts
C)price of coffee beans
D)high price of the company's coffee

Question 39

What step in the strategic planning process is a manager engaged in when he or she asks this question: "What values will define it?"

A)Writing a mission statement
B)Conducting SWOT analysis
C)Establishing goals
D)Identifying core values

Question 40

After being away from leadership in Starbucks, Howard Schultz returned to his leadership position and concluded that his own rapid growth strategy had almost destroyed the brand.

Question 41

Explain contingency planning.

Question 42

As a first-line manager Joe Smith might also hold the title of foreman or supervisor.

Question 43

What is a mission statement?

Question 44

Dorothy Gibson and her team are currently working on _____ plans that specify her firm's activities and the allocation of its resources.

A)executive
B)managerial
C)tactical
D)operational

Question 45

A company usually has a product division structure when it must move goods through several production steps.

Question 46

There's no evidence that St.Claire department heads are involved in _____.

A)leading
B)controlling
C)planning
D)strategic planning

Question 47

Which of the following is a step in the contingency planning process?

A)Set up teams trained to deal with emergencies.
B)Set performance targets to direct all company activities.
C)Develop alternative courses of action in case an anticipated change does occur.
D)Assess the company's strengths and weaknesses.

Question 48

Improving the customer-satisfaction score on dependability is characterized as a(n) _____ goal.

A)strategic
B)tactical
C)managerial
D)executive

Question 49

In developing a flexible style of management for keeping employees motivated on a regular basis, St.Claire department heads are engaged in the function of _____.

A)planning
B)organizing
C)directing
D)controlling

Question 50

Long-range planning that establishes an overall course of action for a company is generally called _____.

A)contingency
B)tactical
C)strategic
D)crisis

Question 51

Scenario-Based
Department heads at St.Claire Machine Works, a $5?million metal fabricating company with operations in four states, are meeting to determine both the management responsibilities that they share in common and those that differ according to different functions.They all set goals, allocate resources, motivate employees, and compare results with original goals.Marketing oversees sales and advertising, while production handles purchasing, engineering, and fabrication.Finance oversees accounting, raising capital, and paying/collecting bills.
When they compare results with original goals, St.Claire department heads are engaged in the function of _____.

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

Question 52

Scenario-Based
Department heads at St.Claire Machine Works, a $5?million metal fabricating company with operations in four states, are meeting to determine both the management responsibilities that they share in common and those that differ according to different functions.They all set goals, allocate resources, motivate employees, and compare results with original goals.Marketing oversees sales and advertising, while production handles purchasing, engineering, and fabrication.Finance oversees accounting, raising capital, and paying/collecting bills.
Each department _____ its work.

A)outsources
B)organizes
C)audits
D)advertises

Question 53

SWOT analysis is a common approach used to:

A)develop a strategic plan.
B)plan for contingencies.
C)assess a company's fit with its environment.
D)identify the core values that will define the organization.

Question 54

Identify the steps in the strategic planning process.

Question 55

An organization chart is a diagram or visual representation delineating the interrelationships of positions within an organization.

Question 56

Middle managers, who direct all of the major activities that must be performed if the company is to fulfill its mission, are responsible for an organization's general health and performance.

Question 57

Explain the concept of SWOT analysis.

Question 58

All department heads are involved in _____.

A)planning
B)purchasing
C)research and development
D)strategic planning

Question 59

To educate new employees, orientation trainers at Valparaiso Communications use an organization chart in which horizontal connecting lines show the firm's chain of demand.

Question 60

Some companies prefer a customer division structure because it allows them to perform operations and customer service more efficiently.

Question 61

Strategic planning is often delegated to combined teams of top, middle, and first-line managers.

Question 62

The vertical connecting lines in the organization chart show the firm's span of control.

Question 63

There are more people at the middle level of the organization than at the bottom level.

Question 64

Managers engage in the organizing function when they allocate resources to carry out a company's plans.

Question 65

If you adopted a functional approach to departmentalization, which of the following types of jobs could you group into clusters?

A)Human resources
B)Operations
C)Accounting
D)All of these

Question 66

As a rule, _____ set overall performance targets for all levels of management.

A)the CEO and CFO
B)operational vice presidents
C)top managers
D)boards of directors

Question 67

Under its matrix structure, Nike creates product teams made up of designers, marketers, and other specialists to design new products.

Question 68

Showing who reports to whom, an organization's _____ describes the authority relationships among people working at different levels.

A)chain of communication
B)organization chart
C)power structure
D)chain of command

Question 69

A _____ organization groups together people who have comparable skills and perform similar tasks.

A)functional
B)serviceable
C)purposeful
D)divisional

Question 70

First-line managers report to top management and oversee the activities of middle managers.

Question 71

_____ oversee the activities of first-line managers.

A)Top managers
B)Supervisors
C)Human resource managers
D)Middle managers

Question 72

In designing an organizational structure, management uses departmentalization to group specialized jobs into meaningful units.

Question 73

Hans Goering, who manages the allocation of his company's resources to achieve its plans, is involved in the _____ process.

A)restructuring
B)organizing
C)specializing
D)planning

Question 74

More involved in day-to-day operations than in planning, _____ supervise employees and coordinate their activities to ensure consistent companywide work.

A)first-line managers
B)middle managers
C)team leaders
D)quality circle captains

Question 75

An organizational structure is considered wide if communications must filter upward through two or more management layers.

Question 76

The patterns of formal communication among an organization's members are called its _____.

A)reporting relationships
B)division relationships
C)functional relationships
D)command network

Question 77

The process of organizing activities into clusters of related tasks that can be handled by certain individuals is called specialization.

Question 78

When a manager delegates work to subordinates, he denies them the opportunity to learn new skills.

Question 79

Newly established Lyons Supermarkets, which shows only a few layers of management on its organization chart, has a _____ organizational structure.

A)deep
B)narrow
C)flat
D)tall

Question 80

COO stands for Chief Organization Officer.