Deck 5: Business Management

Question 1

Operational plans are shorter-term plans for implementing specific aspects of the company's strategic plans.

Answer 1

False

Question 2

When a sales manager compares actual sales to the quarterly sales quota,she is performing the controlling function of management.

Answer 2

True

Question 3

Contingency planning is an organization's method for dealing with emergencies.

Answer 3

False

Question 4

Planning begins when managers determine the firm's goals.

Question 5

Most companies have human resource managers who hire and train employees,evaluate performance,and determine compensation.

Question 6

Conceptual skills refer to the productive use that managers make of their time.

Question 7

Information managers are responsible for getting products from producers to consumers.

Question 8

The skills needed to perform specialized tasks are called human relations skills.

Question 9

Middle managers are responsible for implementing the strategies,policies,and decisions made by top managers.

Question 10

A strategy is a broad set of organizational plans for implementing the decisions made for achieving organizational goals.

Question 11

Contingency planning seeks to identify how a company will respond to change.

Question 12

A manager is likely to be engaged in planning,organizing,leading,and controlling during the course of any given day.

Question 13

Organizational analysis involves scanning the environment for threats and opportunities.

Question 14

The process of guiding and motivating employees to meet the firm's objectives is called planning.

Question 15

The shared experiences,stories,beliefs,and norms that characterize an organization are called an organization structure.

Question 16

Determining the best way to arrange a firm's resources and activities into a coherent structure is called controlling.

Question 17

Business strategy focuses on improving the company's competitive position.

Question 18

Strategic plans are usually created by the firm's top management team.

Question 19

According to the authors of the text,long-term goals are set for a period of less than one year.

Question 20

Functional strategies determine the firm's overall attitude toward growth and the way that it will manage its business or product lines.

Question 21

Changes in technology will result in a decrease in the amount of information that managers will use to make decisions.

Question 22

Most managers would be categorized as top managers.

Question 23

Technical skills are utilized most often by top managers in organizations.

Question 24

Goal setting helps managers assess performance.

Question 25

Long-term goals are derived directly from a firm's mission statement.

Question 26

Financial managers oversee accounting functions and financial resources.

Question 27

Goal setting provides direction and guidance for first-level managers only.

Question 28

As businesses become increasingly international in scope,global management skills will become more important.

Question 29

Increasing sales by 4 percent in the next 6 months would be an example of an intermediate goal.

Question 30

Human relations skills include the ability to get along with subordinates and to motivate employees to perform.

Question 31

Human relations skills are most important for first-line managers.

Question 32

Top managers depend most on conceptual skills.

Question 33

Information managers are responsible for getting products from producers to consumers.

Question 34

The last step in the decision-making process is the selection of the best alternative.

Question 35

The four leading causes of wasted time for managers are paperwork,phone calls,meetings,and e-mail.

Question 36

Operations managers are responsible for production,inventory,and quality control.

Question 37

Doubling the number of merchants participating in a sales program over the next 10 years is an example of a long-term goal.

Question 38

Supervisor,office manager,and group leader are titles of middle managers.

Question 39

The first step in the control process is to compare actual performance to standards.

Question 40

The starting point in effective management is setting goals.

Question 41

Corporate culture is largely a result of state and local laws and regulations.

Question 42

A firm first sets its strategies and then focuses attention on goals to accomplish them.

Question 43

Technical skills are not important for first-line managers.

Question 44

Although human relations skills are important at all levels,they are probably not important for middle managers.

Question 45

Crisis management involves a firm's methods for dealing with emergencies.

Question 46

SWOT analysis is usually conducted before strategic goals have been established.

Question 47

When IBM analyzes its strengths and weaknesses,it is conducting an organizational analysis.

Question 48

A strong corporate culture directs employees' efforts and helps everyone work towards the same goals.

Question 49

Decision-making skills involve gathering facts,identifying solutions,evaluating alternatives,and implementing the chosen alternative.

Question 50

Conceptual skills recognize new market opportunities and threats.

Question 51

A strategy is a focused plan that guides organizational decisions.

Question 52

According to the textbook,many managers spend as much as four hours a day in meetings.

Question 53

E-mail,video-conferencing,and other forms of communication are breaking down bureaucracies,and the decision-making process is benefiting from group building and team-work.

Question 54

It is not possible to change an organization's corporate culture.

Question 55

In the hierarchy of plans,the levels constitute a hierarchy because implementing plans is practical only when there is a logical flow from one level to the next.

Question 56

Top managers depend most on conceptual skills,first-line managers least.

Question 57

Corporate strategy determines what business or businesses to own or operate.

Question 58

According to the textbook,email and spam are big time-wasters for managers.

Question 59

The top management teams of large corporations today are likely to include directors only from the U.S.

Question 60

Corporate culture reflects an organization's reason for being.

Question 61

________ analyze their competitive environments and plan,organize,direct,and control the operations of their organizations.

A) Stockholders
B) Managers
C) Directors
D) Agents

Question 62

The process of planning,organizing,leading,and controlling an organization's financial,physical,human,and information resources to achieve its goals is called ________.

A) organizational planning
B) developing a mission statement
C) management
D) skills development

Question 63

A contingency plan will be more efficient if managers decide in advance what to do in case business falls below planned levels.

Question 64

Which of the following managers are responsible for implementing the strategies,policies,and decisions made by top managers?

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

Question 65

Which of the following refers to a person's ability to think in the abstract,to diagnose and analyze different situations,and to see beyond the present situation?

A) human relations skills
B) decision-making skills
C) conceptual skills
D) production skills

Question 66

In looking at the process of radical change,the three-stage process is characterized by conflict and resistance in the beginning.

Question 67

The ability to define problems and select the best course of action is the definition of ________.

A) human relations skills
B) production skills
C) conceptual skills
D) decision-making skills

Question 68

Objectives that a business hopes (and plans)to achieve are called ________.

A) tactics
B) strategies
C) actions
D) goals

Question 69

Skills in understanding and getting along with other people are called ________.

A) human relations skills
B) technical skills
C) conceptual skills
D) motor skills

Question 70

The manager uses which of the following management processes to guide and motivate employees to meet the firm's objectives?

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

Question 71

The productive use of the manager's time is referred to as the manager's ________.

A) production skills
B) technical skills
C) time management skills
D) conceptual skills

Question 72

Which of the following levels of management spend most of their time working with and supervising the employees who report to them?

A) first-line managers
B) middle managers
C) top managers
D) chief executive officers

Question 73

Crisis management involves planning for change.

Question 74

Duke Energy has engaged in contingency planning by making provisions for secondary trading centers in the event of a terrorist attack.

Question 75

The skills needed to perform specialized tasks are called ________.

A) motor skills
B) human relations skills
C) technical skills
D) conceptual skills

Question 76

Determining the best way to arrange a firm's resources and activities into a coherent structure is called ________.

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

Question 77

Determining what the organization needs to do and how best to get it done requires ________.

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

Question 78

Statements of how organizations will achieve their purposes in the environments in which they conduct their business are called ________.

A) mission statements
B) intermediate goals
C) long-term goals
D) short-term goals

Question 79

A ________ is a broad set of organizational plans for implementing the decisions made for achieving organizational goals.

A) mission
B) function
C) formula
D) strategy

Question 80

________ are performance targets,the means by which organizations and their managers measure success or failure at every level.

A) Tactics
B) Goals
C) Strategies
D) Mission statements