Deck 1: Managers and Entrepreneurs

Question 1

Based on its population, the United States uses less than its proportionate share of global resources such as oil.

Answer 1

False

Question 2

When calculating efficiency, the amount of resources used is irrelevant.

Answer 2

False

Question 3

True economic progress for individuals and organizations cannot be achieved without learning and continuous improvement.

Answer 3

True

Question 4

Achieving a stated objective involves efficiency.

Question 5

In the derailed managers study, mismanagement of funds was the number one problem.

Question 6

Change is the only certainty in today's climate.

Question 7

One of the five overarching sources of change for managers is globalization.

Question 8

Mismanagement can occur when too much emphasis is placed on either effectiveness or efficiency.

Question 9

A good term for management is "applied economics".

Question 10

Union Pacific Railroad's management team uses information technology to increase efficiency and improve the environment.

Question 11

Chemistry and management are closely related, because of their common focus on resources.

Question 12

In the year 2020, less than 40 percent of the world's population will live in relatively poor and less-developed countries.

Question 13

Organizations that waste resources are efficient but not effective.

Question 14

Management is, above all else, a political process.

Question 15

Management is the process of working with and through others to achieve organizational objectives in a changing environment.

Question 16

Collective action is always required for organizational objectives or goals.

Question 17

At Zappos, protecting the company culture and sticking to core values is a long-term benefit.

Question 18

Human resource management is the study of how limited resources are distributed among alternative uses.

Question 19

The effective and efficient use of limited resources is central to the management process.

Question 20

The management process would be aimless and wasteful without organizational objectives.

Question 21

Intense customer and employee involvement during the entire design-production cycle is the focus of the inspect-it-in approach to quality.

Question 22

TQM is a popular label for the fix-it approach to quality.

Question 23

Managerial functions are general administrative duties that need to be carried out in virtually all productive organizations.

Question 24

The global network of servers and computers is called the Internet.

Question 25

In the design-it-in approach, continuous improvement of personnel, processes, and product is emphasized.

Question 26

The initials TQM stand for Techniques for Quality Measurement.

Question 27

Frenchman Henri Fayol became the father of the functional approach because he identified five managerial functions: planning, organizing, command, coordination, and control.

Question 28

Years of headlines about discrimination, accounting fraud, and insider trading have placed managers under strong pressure to behave ethically.

Question 29

IBM owns the Web today, even though the concept of the Internet began as a U.S. Department of Defense research project.

Question 30

Everyone including business executives and politicians agree that offshoring is one of the best aspects of globalization.

Question 31

A challenge for managers is imbedding sustainability into their organizations product design, supply chain management, training, production, and transportation processes.

Question 32

The primary management function, which also involves the formulation of future courses of action, is called planning.

Question 33

Product/service quality has become a driving force in all organizations, thanks to the work of quality guru Mary Parker Follett.

Question 34

Wilson isolated five functions he believes are common to all managers.

Question 35

Identifying and eliminating causes of quality problems is the emphasis in the build-it-in approach.

Question 36

Web 2.0 or social networking is comprised of user-generated content such as Facebook, YouTube, and Twitter.

Question 37

Given that investors have the primary concern of making money, they do not care whether an organization is environmentally "clean" or "dirty," as long as it is profitable.

Question 38

Legal, ethical, security and privacy issues associated with the Internet have been resolved making it safe and worry free for managers to use for business transactions.

Question 39

According to a survey by Economist magazine, a sound ethical compass was Number One on a Top 10 list of leadership qualities.

Question 40

Drug abuse is the number one ethical problem in the workplace, according to a survey of employees.

Question 41

Research clearly indicates that future managers can learn to manage by disregarding theories, focusing on practice, and observing role models.

Question 42

About 20 percent of small businesses are "microbusinesses", with fewer than five employees, typically operating out of the owner's home.

Question 43

The primary way in which managers learn to manage is through formal training, according to the Honeywell study.

Question 44

What is the key for true economic progress for individuals and organizations?

A) Foreign competition
B) Government assistance
C) Job satisfaction
D) Life-long learning
E) Communication

Question 45

Recognizing that communication is a two-way process, managers should be responsive to feedback and upward communication.

Question 46

According to research, interruptions are what the work of top managers is all about, and actually constitute a valuable resource.

Question 47

According to recent statistics, four out of five businesses go out of business with unpaid bills within five years, that is an 80% failure rate.

Question 48

Which of the following core values impacted hiring decisions the most at Zappos?

A) Do more with less
B) Pursue growth and learning
C) Be humble
D) Create fun and a little weirdness
E) Embrace and drive change

Question 49

Full-time students tend to get a lot of theory and little practice.

Question 50

Although the pace of work for today's managers is hectic, it is expected that the pace will slow down for future managers.

Question 51

According to recent government data, small firms with fewer than 500 employees produced no new net jobs over the last decade.

Question 52

Which of the following is the driving force in the battle to stay competitive today?

A) Product/service quality
B) Flexibility
C) Change
D) Teamwork
E) Speed

Question 53

Entrepreneurs are less comfortable with ambiguity and risk taking compared to general administrators.

Question 54

An independently owned and managed profit-seeking enterprise employing fewer than 50 people is called a small business.

Question 55

Speed, teamwork, and ____ are the orders of the day, from both strategic and operational standpoints.

A) authoritarianism
B) hazardous working conditions
C) flexibility
D) stress
E) quality malfunction

Question 56

According to research by Clark L. Wilson, about 10 percent of managers at all levels do not achieve an appropriate balance of managerial skills and are thus ineffective.

Question 57

Making a big mistake and feeling threatened are included in the "school of hard knocks."

Question 58

The decision-making function involves comparing desired results with actual results so corrective action can be taken.

Question 59

At Zappos they have a philosophy that they are willing to make short-term sacrifices (including lost revenue or profits) if they believe that the long-term benefits are worth it. Protecting ____________is an example of a long-term benefit.

A) The 40% retention bonus
B) The company culture and sticking to core values
C) Investor's money by focusing on profit
D) The company's place on the Fortune magazine's "100 Best Companies to Work For" list
E) Seeking growth in online sales by hiring the top talent regardless of their ego

Question 60

Founder's disease refers to the problem of organizations outgrowing the entrepreneur's ability to manage them.

Question 61

The dean of students at State College wants to increase the average class size from 30 to 100 students, at the expense of instructional excellence. If this happens, it would be

A) somewhat effective and very inefficient.
B) not effective but efficient.
C) effective but not efficient.
D) not effective and not efficient.
E) both effective and efficient.

Question 62

____ is(are) always required by organizational objectives or goals.

A) Management approval
B) Job descriptions
C) Collective action
D) Financial resources
E) Information gathering

Question 63

____ is not a key component in the definition of management.

A) Coping with a changing environment
B) Making the most of limited resources
C) Working with and through others
D) Balancing effectiveness and efficiency
E) Maximizing shareholder wealth

Question 64

UPS uses sophisticated mapping-software to reduce driver time idling and decrease the volume of fuel burned. This is an example of a(n) _________ratio of benefits to costs.

A) uniform
B) favorable
C) predictable
D) stable
E) unfavorable

Question 65

The management process would be aimless and wasteful without

A) competitive pressure.
B) organizational objectives.
C) employee involvement.
D) shareholder commitment.
E) organizational profits.

Question 66

Paul earned his college degree after retaking four classes, changing his major three times, and spending twice as much as his family budgeted. In terms of the definition of management, Paul was

A) ineffective but efficient.
B) partly effective and partly efficient.
C) neither effective nor efficient.
D) effective but not efficient.
E) both effective and efficient.

Question 67

Dr. Marty Weller is a strong believer in maintaining smaller class sizes at the university where she is the President. This means hiring additional faculty and spending more money than allocated every year. However, the students are happy and are receiving a top-quality education. Dr. Weller is

A) somewhat effective and very inefficient.
B) not effective but efficient.
C) effective but not efficient.
D) not effective and not efficient.
E) both effective and efficient.

Question 68

Union Pacific Railroad uses information technology to track the fuel efficiency of every engineer. This is an example of a company increasing efficiency and productivity while also protecting __________________.

A) the train engines
B) the computers on board
C) the conductor
D) the natural environment
E) the freight

Question 69

Management is, above all else, a ______ process.

A) Technical
B) Political
C) Social
D) Economic
E) Profit-oriented

Question 70

Lexie, a sales representative for GreenWares Company, failed to achieve her sales quota last year but was praised by her manager for reducing her expense account by 25 percent. Lexie was

A) effective but not efficient.
B) somewhat effective and very inefficient.
C) both effective and efficient.
D) not effective but efficient.
E) not effective and not efficient.

Question 71

Poppy's Pancake House opened its 500ᵗʰ store in 2011, just as its founder had planned. This is an example of

A) coping with a changing environment.
B) working with and through others.
C) making the most of limited resources.
D) achieving an organizational objective.
E) balancing effectiveness and efficiency.

Question 72

____________ is an example of an American mult-national company that has prospered through global expansion that includes 32,000 locations, serving more than 60 million people in 117 countries each day.

A) Home Depot
B) Target
C) Sears
D) Baskin Robbins
E) McDonald's

Question 73

____ is the process of working with and through others to achieve organizational objectives in a changing environment.

A) Controlling
B) Leading
C) Planning
D) Organizing
E) Management

Question 74

The global economy produces $59 trillion worth of goods and services annually. __________________is the world's largest economy accounting for $14 trillion of the global economy.

A) Japan
B) China
C) Russia
D) Mexico
E) The United States

Question 75

Assume that both car manufacturers produce high quality vehicles. If Honda annually produces 51 cars per worker, whereas Toyota produces 69 cars per worker, it can be said that in terms of labor productivity,

A) Toyota is both more effective and more efficient than Honda.
B) Honda is both more effective and more efficient than Toyota.
C) Honda is more effective but Toyota is more efficient.
D) Toyota is more effective but Honda is more efficient.
E) both are inefficient.

Question 76

Natural disasters and weather events such as the earthquake in Japan and the Eyjafjallajokull volcano erupting in Iceland effect manufacturing managers world wide because of the impact on

A) population growth
B) hiring
C) corporate culture
D) product design
E) transportation & shipping

Question 77

Phil recently read about the derailed managers study. Being a first-line manager and aspiring to climb the management ladder, Phil wants to avoid the mistakes involving working effectively with and through others identified in the study. Which of the following does he need to work on?

A) the ability to think in closed-system terms
B) the ability to predict the future
C) the ability to build and lead a team
D) the ability to make financial decisions
E) the ability to avoid change

Question 78

____ is central to the management process.

A) Maintaining status quo in a changing environment
B) Maximizing profits
C) Becoming an employee-centered leader
D) Effective and efficient use of limited resources
E) Enhancing interpersonal relationships

Question 79

Annie is having difficulty as a manager because she is hampered by a problem identified in the derailed managers study. Annie's problem may be that she

A) does not pay appropriately.
B) is manipulative.
C) is unable to staff effectively.
D) is overly ambitious.
E) is too lenient.

Question 80

____ enters the picture when the resources required to achieve an objective are weighed against what was actually accomplished, whereas ____ entails promptly achieving a stated objective.

A) Quality; quantity
B) Effectiveness; quality
C) Efficiency; effectiveness
D) Efficiency; quality
E) Effectiveness; efficiency