Question 1

An organization where power is distributed and employees work in groups or teams is a ________ organization.

Accepted Answer

A horizontal organization is characterized by an equal distribution of power, where employees work in groups or teams to achieve a common goal. This type of organization promotes collaboration and sharing of responsibilities, leading to increased creativity, productivity, and job satisfaction among employees. On the other hand, a vertical organization is structured with a clear chain of command and a hierarchy of authority, where decision-making power resides with the top management. A linear organization follows a strict chain of command, where each employee reports to a supervisor and has a limited scope of authority. A virtual organization operates mainly through technology and may not have a physical location. A network organization may include several independent entities or businesses working together to achieve a specific goal.

Question 2

Network organization is an emerging business structure in which ________ collaborate.

Accepted Answer

Network organization involves collaboration between a group of companies to achieve a common goal or objective. This collaboration may involve sharing resources, knowledge, and expertise to create a competitive advantage in the market. In a network organization, each company retains its independence but works together as a unified group to achieve success.

Question 3

Keeping a schedule is an important time management skill.

Accepted Answer

Keeping a schedule helps individuals to plan and allocate their time effectively, prioritize tasks, and ensure deadlines are met, thus making it an important time management skill.

Question 4

When managers evaluate a decision and determine that it is not meeting the goals of the organization,the decision-making process may become cyclical.

Accepted Answer

When a decision is not meeting the goals of the organization, managers may need to re-evaluate the decision-making process and make adjustments. This can lead to a cyclical process where decisions are continually evaluated and improved upon.

Question 5

An understanding of the company mission can help fuel employee enthusiasm.

Accepted Answer

When employees understand and believe in the company's mission, they are more likely to feel a sense of purpose and motivation in their work. This can lead to increased enthusiasm and productivity.

Question 6

A vision statement is a current description of an organization's purpose,basic goals,and philosophies.

Accepted Answer

A vision statement is a forward-looking declaration that outlines what an organization wants to become in the future; it's aspirational, not a current description.

Question 7

Reebok only designs and markets its products.The company does not produce any products.This is an example of ________.

Accepted Answer

A network organization is characterized by outsourcing manufacturing and other functions, while concentrating on design, marketing, and other activities that are central to its core competencies. Reebok outsourcing its manufacturing activities is an example of a network organization.

Question 8

Top managers learn conceptual skills in business school and then apply what they've learned in the workplace.

Accepted Answer

The answer of Top managers learn conceptual skills in business...

Question 9

It is important for a marketing manager to have strong accounting skills.

Accepted Answer

While having some basic accounting knowledge and understanding of financial statements can be helpful for a marketing manager, it is not essential for the role. The primary focus of a marketing manager is on developing and implementing marketing strategies to promote a company's products or services, and they typically work closely with the finance department rather than directly handling accounting tasks.

Question 10

The skills of a manager and the process a manager goes through will be entirely different if the organization is a simple working group instead of a multibillion-dollar company.

Accepted Answer

While the scale and complexity of management tasks will vary significantly between a simple working group and a multibillion-dollar company, the fundamental skills of a manager (such as planning, organizing, leading, and controlling) remain consistent across different organizational sizes and types. The processes a manager goes through, such as decision-making, communication, and problem-solving, are also fundamentally similar, though they may be applied in more complex and varied ways in larger organizations.

Question 11

The vast majority of people who have graduated from a reputable Master's in Business Administration program have a mastery of the basic skills a successful manager needs to possess: technical,interpersonal,conceptual,decision-making,and time management.

Accepted Answer

The answer of The vast majority of people who have...

Question 12

A ________ is a graph that displays the values of two variables to see if there is a relationship between the variables.

Accepted Answer

A scatterplot specifically displays the values of two variables and visually shows if there is a relationship or correlation between them. A run chart shows data over time and can be used to track progress or identify trends, but it does not specifically display two variables. A check sheet is a tool used to collect data and organize it, but it does not display the relationship between variables. A control chart is used to monitor a process and see if it is in control or out of control, but it does not display the relationship between variables. A histogram displays the distribution of a single variable, but does not display the relationship between two variables.

Question 13

Only for-profit companies use mission statements.

Accepted Answer

Both for-profit and non-profit organizations use mission statements to communicate their purpose and values to stakeholders.

Question 14

It is virtually impossible to learn decision-making skills.Some people are decisive by nature and others are indecisive.

Accepted Answer

While some people may have a natural inclination towards being more decisive, decision-making skills can be learned and improved upon through practice and experience. There are also various decision-making frameworks and strategies that individuals can utilize in order to become more effective decision-makers.

Question 15

If a business owner has a superb knowledge of business logistics,has the ability to make good decisions every day,and has excellent interpersonal skills,the business will thrive.

Accepted Answer

While superb knowledge of business logistics, the ability to make good decisions, and excellent interpersonal skills are important factors for a business to thrive, success is not guaranteed. Other factors such as market conditions, competition, financial management, and external factors like economic downturns also significantly impact business success.

Question 16

The quality initiative that is statistically based,proactive,and long-term and that is designed to look at the overall business process to prevent problems is called ________.

Accepted Answer

Six Sigma is a quality initiative that is statistically based, proactive, and long-term. It is designed to look at the overall business process to prevent problems. Six Sigma uses data and statistical analysis to identify and eliminate defects in a process, resulting in improved quality and reduced costs. Total Quality Management (B) and the Control Cycle (C) are similar approaches to improving quality but do not use the same statistical methods as Six Sigma. Performance Measurement (D) and Pareto charts (E) are tools used within Six Sigma, but not the overarching initiative.

Question 17

Managers do not need to be comfortable with technology because they can delegate those tasks to their information technology (IT)staff.

Accepted Answer

In today's technological world, managers need to have a certain level of comfort and proficiency with technology in order to effectively lead and make informed decisions for their organization. They cannot solely rely on their IT staff to handle all technological tasks and issues.

Question 18

A company that is organized around specific business functions and where there are several levels of first-line and middle managers is a(n)________ organization.

Accepted Answer

A vertical organization is structured around specific business functions and has multiple levels of first-line and middle managers. This is a traditional hierarchical model that emphasizes clear chain of command and control. A network organization is based on collaboration and interdependence rather than hierarchy, a flat organization has few or no levels of management, a linear organization is focused on a single line of authority, and an inverted organization has a flipped organizational chart where customers and front-line employees are at the top.

Question 19

The basic steps in a formal decision-making process are identifying and analyzing the problem,generating possible solutions,examining the alternatives,selecting the best plan of action,and finally implementing it.

Accepted Answer

The answer of The basic steps in a formal decision-making...

Question 20

A mission statement identifies what a business wants to be in the future.

Accepted Answer

A mission statement describes the company's current purpose, objectives, and approach to reach those objectives, focusing on its present operations rather than future aspirations.

Quiz 7: Business Management and Organization