Question 1

Values are occasionally referred to as managers making business decisions.

Accepted Answer

The answer of Values are occasionally referred to as managers...

Question 2

A vision is the overall explanation of why an organization exists and where it is trying to head.

Accepted Answer

A vision statement provides a clear and inspiring picture of the future that an organization aims to achieve. It serves as a guiding principle for decision-making and strategy development within the organization.

Question 3

Objectives should be expressed as broad,general principles rather than as specific short-term results.

Accepted Answer

Objectives should be specific, measurable, achievable, relevant, and time-bound (SMART) to ensure clear understanding and effective evaluation of progress towards achieving them.

Question 4

Continuous planning is not necessary,because plans that worked well in the past are likely to continue to work well in the future.

Accepted Answer

Continuous planning is necessary because the future is always uncertain and circumstances can change quickly. Plans that worked well in the past may not be effective in the future due to changes in technology, market conditions, or other factors. By constantly reassessing and adjusting plans, businesses can stay agile and adapt to changing conditions.

Question 5

The top managers at the Sax Department Store find that their employees do not really share a common sense of purpose or have a common set of values.This suggests that top management has not provided a clear vision for the firm.

Accepted Answer

The lack of a common sense of purpose or shared values among employees indicates that the top management has not communicated a clear vision for the firm.

Question 6

Goals tend to be broad and focus on the long-term while objectives tend to be specific and short-term in their focus.

Accepted Answer

Goals are general and long-term, while objectives are specific and short-term in nature. Goals are the desired outcome or direction a person or organization wants to achieve in the future, while objectives are the concrete steps or actions that need to be taken to achieve those goals.

Question 7

Planning is a continuous process.

Accepted Answer

Planning is not a one-time task. It is a continuous process that involves reviewing and updating plans regularly to meet changing circumstances and goals.

Question 8

Planning involves setting the organizational vision,goals and objectives.

Accepted Answer

Planning is the process of setting goals, objectives, and strategies to achieve the desired outcome for an organization. It involves defining the direction in which the organization should head, and the steps needed to reach that direction.

Question 9

A mission statement outlines the fundamental purposes of an organization.

Accepted Answer

A mission statement defines the organization's overarching purpose and guides decision-making within the organization.

Question 10

The encompassing explanation of why an organization exists and what it is trying to achieve is called the organization's directive.

Accepted Answer

The answer of The encompassing explanation of why an organization...

Question 11

Most managers consider planning to be of little importance in today's rapidly changing business environment.

Accepted Answer

While the business environment may be rapidly changing, planning is still considered to be important in setting goals, assessing risks, and making informed decisions. Planning helps managers to adapt and respond to changes in the business environment more effectively.

Question 12

Astro is a no-nonsense boss who believes that the best way for an organization to achieve its goals is for workers to follow their boss' orders.Thus,he tells workers exactly what to do and how to do it.Astro's approach is an example of directing.

Accepted Answer

The statement describes the definition of directing, which involves giving clear instructions and guidance to workers on how to achieve the organization's goals. Astro's approach aligns with this definition, as he believes that workers should follow their boss' orders to meet these objectives.

Question 13

SWOT analysis helps firms identify both competitive threats and market opportunities.

Accepted Answer

SWOT analysis is a strategic planning tool used by firms to evaluate their strengths, weaknesses, opportunities, and threats. The analysis helps businesses identify potential threats, such as competitors or changes in the market or industry, as well as opportunities for growth and expansion.

Question 14

Beth has spent the last two hours going over some consumer surveys to see how well her company is achieving its goal of improving customer satisfaction.Beth's efforts are an example of the controlling function of management.

Accepted Answer

Beth's review of consumer surveys is an example of the controlling function of management, which involves monitoring the performance of the organization to ensure that it is meeting its goals and taking corrective action if necessary.

Question 15

Jack,a manager with Tiny Tots Toy Company,has just participated in a meeting that looked at future trends in the toy industry,and identified new challenges and opportunities for Tiny Tots.Jack's participation in this meeting was part of the organizing function of management.

Accepted Answer

The answer of Jack,a manager with Tiny Tots Toy Company,has...

Question 16

Goals are broad,long-term accomplishments an organization wants to achieve.

Accepted Answer

Goals are indeed broad, long-term achievements an organization aims to achieve.

Question 17

A vision is a detailed set of specific steps that a firm must take to achieve its short-run objectives.

Accepted Answer

A vision is a broad statement of the company's long-term aspirations and direction, not a set of specific steps for achieving short-term objectives.

Question 18

Rita is a manager of a medium-sized service company.She is currently involved in redesigning her department to ensure that employees and other resources can respond more quickly and efficiently to the needs of its customers.Rita's efforts are part of the organizing function of management.

Accepted Answer

The organizing function of management involves arranging resources and tasks to achieve organizational goals. Rita's efforts to redesign her department to improve responsiveness to customer needs fall under this function.

Question 19

A mission statement should provide a detailed explanation of how a company will achieve its objectives.

Accepted Answer

A mission statement should provide a broad and concise overview of a company's purpose and values, but it should not include detailed explanations of how the company will achieve its objectives. The strategies and tactics for achieving those objectives are typically outlined in a separate document, such as a business plan or strategic plan.

Question 20

While goals are measurable,objectives are not.

Accepted Answer

This statement is incorrect. Objectives are also measurable and specific, just like goals. In fact, objectives are the smaller steps that are taken to achieve a larger goal.

Quiz 8: Management and Leadership