Question 1

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

Accepted Answer

A mission statement should provide a brief and concise statement that outlines the company's purpose and direction, not necessarily a detailed explanation of how it will achieve its objectives.

Question 2

Jamika is a manager at a well-known retail store.Each morning she determines the order in which store projects are performed;she sets work schedules for employees and standards that must be met.These activities suggest that Jamika is involved in operational planning.

Accepted Answer

Jamika's activities of determining the order of store projects, setting work schedules, and standards for employees indicate that she is involved in operational planning, which deals with day-to-day activities and decisions to achieve established goals.

Question 3

Tactical planning involves making decisions about which customers to serve,what products or services to sell,and the geographic areas in which the firm will compete.

Accepted Answer

The fundamental nature of the topics described in this question would be considered in the strategic planning process.

Question 4

The first step in the rational decision-making model is to identify alternative solutions.

Accepted Answer

The first step in the rational decision-making model is to identify the problem, not alternative solutions.

Question 5

After management has created a plan of action,the focus turns to the controlling function to recheck and often redo the plan.

Accepted Answer

The controlling function is not primarily about rechecking and redoing the plan; it is about monitoring performance to ensure that the goals of the plan are being met and taking corrective action if necessary. Planning and controlling are distinct functions, although they are closely related.

Question 6

Brainstorming is coming up with as many solutions as possible in a short period of time with a focus toward not censoring anyone's ideas.

Accepted Answer

Brainstorming is a process where all ideas are welcome and encouraged, without any judgement or criticism. The goal is to generate as many ideas as possible, which can then be evaluated and refined later.

Question 7

Problem-solving is more formal than using the rational decision-making model.

Accepted Answer

The rational decision-making model is a formal approach to problem-solving that uses systematic analysis and evaluation of alternatives. Problem-solving can be formal or informal, but it generally involves finding a solution to a specific problem or challenge.

Question 8

One step in the rational decision-making model is to develop alternatives.

Accepted Answer

Developing alternatives is a necessary step in the rational decision-making model. It involves brainstorming and evaluating different options to address the problem at hand.

Question 9

The last step in the rational decision-making model is to determine whether the decision was a good one and follow up.

Accepted Answer

The last step in the rational decision-making model is indeed to evaluate whether the decision made was effective and follow up on it.

Question 10

Organizing involves allocating resources,assigning tasks,and establishing procedures for accomplishing the organizational objectives.

Accepted Answer

Organizing is one of the four functions of management and involves the allocation of resources, assignment of tasks, and establishment of procedures to achieve organizational goals.

Question 11

Decision-making occurs in all management functions.

Accepted Answer

Decision-making is an integral part of all management functions, including planning, organizing, staffing, directing, and controlling. Managers are constantly making decisions to achieve organizational goals and objectives.

Question 12

Contingency planning is most important in markets where conditions are relatively stable and market growth is predictable.

Accepted Answer

Contingency planning is most important in markets where conditions are unpredictable and uncertain. In stable markets with predictable growth, the need for contingency planning may be less as the risks and uncertainties are lower.

Question 13

Crisis planning develops responses to sudden changes in the environment.

Accepted Answer

Crisis planning is the process of identifying potential crisis situations and developing strategies to respond to them quickly and effectively. This includes preparing for sudden changes in the environment or unexpected events that can disrupt regular operations.

Question 14

Sharon needed to solve a problem quickly,so she called together the work team in her department and asked them to list as many possible solutions as they could come up with in a short period of time.During the process she encouraged responses and avoided censoring what her workers said.Sharon is utilizing a problem solving technique known as brainstorming.

Accepted Answer

The description matches the problem solving technique of brainstorming, where the goal is to encourage free-thinking and facilitate the generation of multiple potential solutions in a short amount of time, without censorship or judgment.

Question 15

In order to ensure effective implementation,managers should make only one set of plans and carefully follow them to ensure that the organization's objectives are achieved.

Accepted Answer

Managers should not make only one set of plans because circumstances may change and adjustments to plans may be necessary. It is important for managers to regularly review and revise plans as needed to ensure effectiveness in achieving the organization's objectives.

Question 16

PMI is a problem solving technique that involves listing pluses,minuses and implications.

Accepted Answer

PMI stands for Plus-Minus-Implications and is a problem solving technique that involves listing the positive aspects (pluses), negative aspects (minuses), and potential consequences (implications) of a decision or situation.

Question 17

Instead of creating detailed strategic plans,the leaders of market-based companies (companies that respond quickly to environmental changes)set flexible directions so as to allow for change and seize opportunities when they come.

Accepted Answer

Market-based companies prioritize agility and adaptability over rigid strategic plans, opting for flexible directions to remain responsive to environmental changes and take advantage of opportunities as they arise.

Question 18

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

If the employees do not share a common sense of purpose or values, it indicates that there is no clear direction or shared understanding provided by top management, which is indicative of a lack of a clear vision for the firm.

Question 19

The SWOT analysis focuses only on the internal activities of the firm,while a PERT analysis is used to review the external environment in which the firm operates.

Accepted Answer

The statement is incorrect. A SWOT analysis evaluates both the internal and external factors that may affect a business, while a PERT analysis is a project management tool used to analyze the time required to complete a project and identify potential bottlenecks or critical paths.

Question 20

Lucy is part of the top management team at Cloudy Daze Rain Gear,a company that produces umbrellas,raincoats,hats and all-weather shoes.As a member of top management,Lucy is more likely to be involved in strategic planning than in tactical planning.

Accepted Answer

Top management is typically responsible for strategic planning, which involves setting long-term goals and strategies for the company, while tactical planning is usually the responsibility of middle managers and focuses on short-term plans and actions to achieve those goals.

Quiz 7: Management and Leadership