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t/f: Planning helps managers to cope with events that can be predicted, but is not particularly helpful when conditions are uncertain.
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t/f: Determining an organization's mission is the responsibility of top management and the board of directors.
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PoM2
principles of management exam 2
| Question | Answer |
|---|---|
| t/f: Planning helps managers to cope with events that can be predicted, but is not particularly helpful when conditions are uncertain. | false |
| t/f: Determining an organization's mission is the responsibility of top management and the board of directors. | true |
| t/f: Strategic planning determines goals for an organization for a period of 1-5 years. | true |
| t/f: The 'R' in SMART goal stands for reachable. | false - reaching |
| t/f: Policies, procedures, and rules are types of single-use plans. | false |
| t/f: In the planning/control cycle, carrying out the plan is one of the control steps. | false |
| Planning is defined as: | setting goals and deciding how to achieve them. |
| What is the correct order of planning steps within an organization? | Mission statement& vision statement, strategic planning, operation panning, tactical planning |
| What is the time frame of an operational plan? | 1-52 weeks. (within a year) |
| Which of the following is associated with operational planning? | Directing daily tasks of non-managerial personnel. |
| After setting goals, managers should next . . ? | prepare an action plan for accomplishing the goals. |
| Terell is a new manager, and he is using MBO for the first time. it is essential for Terell to . . ? | reward employees when they meet objectives. |
| Improving future plans is part of which step in the planning/control cycle? | Controlling the direction. |
| t/f: In a world of rapid and discontinuous change, the ability to please nonmanagerial employees has been called the golden trait among managers. | false |
| A sustainable competitive advantage is the ability of an organization to produce goods and services more effectively than its competitors and outperform them. | true |
| t/f: Management of a small company is an industry that is not very competitive should not engage in strategic planning because the small gains in performance may not be worth the effort. | true |
| t/f: The first step in the strategic-management process is to establish the grand strategy. | false |
| t/f: A common challenge to strategy implementation is resistance by people within the organization. | true |
| t/f: The use of hedging to manage the cost of aviation fuel is an example of trend analysis. | false |
| The BCG matrix is a means of evaluating strategic business units on the basis of both their business growth rates and their profitability. | false |
| A __________ represents an "educated guess" about what must be done in the long term for survival or the prosperity of the organization or its principal parts. | strategy |
| Which of the following is NOT an area in which a company needs to get and stay ahead in order to sustain a competitive advantage? | Talented Employees |
| JT runs a bakery and likes penis, his bakery is in the middle of a popular town and yet he gets no business. JT should be aware of what research finding regarding strategic plannign? | Both small and large firms benefit from strategic plannning, but the small improvement in performance may not be worth the effort for small firms. |
| Rocky Mountain Ski and Snowboard has decided to increase advertising in two of the ski resorts in the rocky mountains, as well as sponsor one of the mountain competitions. It is following which strategy? | Growth. |
| Careful monitoring of an organizations internal and externam environment to detect early signs of opportunities and threats that may influence the firm's plans is called. . ? | environmental scanning. |
| When analyzing the "S" in a SWOT analysis, a manager might take note of . . ? | strong financial resources of the firm. |
| analysis of changing demographics of the population would be part of the assessment of a company's. . ? | opportunities or threats depending on the outcome of the analysis. |
| Creation of alternative hypothetical but equally likely future conditions is called . . ? | Contingency Planning. |
| An example of a firm that pursues a differentiation strategy is . . ? | Lexus |
| Adrianna would assess her companies mouthwash (the best-selling brand on the market) as _______ if she uses the BCG matrix to classify it. | cash cow |
| t/f: a manager makes a decision based on the beliefs she already has, she is guilty of a prior-hypothesis bias. | True |
| t/f: Women investors make trades much less often than men, do a lot more research, and have better returns on average. | True |
| t/f: Non-rational models of a decision making are descriptive rather than prescriptive. | True |
| t/f: The drawback of using the intuition model of decision making is that is can be difficult to convince others that your decision makes sense. | True |
| t/f: People with a low tolerance for ambiguity and an orientation toward task and technical concerns in making decisions have an analytic decision-making style. | False |
| t/f: Heuristivs are strategies that simplify the process of making decisions. | True |
| t/f: A disadvantage of group-aided decision making is that groups tend to supress an individual's intellectual stimulation and creativity. | False |
| t/f: Shakil, a manager, has to make a decision about a new procedure to be used by workers in his department. There is no great urgency in the situation. Shakil should make the decision by himself. | False |
| The rational model of decision making is also called . . ? | classical model |
| In the fianl stage of the rational model of decision making, you should . . ? | evaluate the results. |
| The concept of "bounded rationality" is most closely related to the _______ model of decision making. | satisficing |
| Making a choice without the use of conscious thought or logical interference is called . . ? | intuition |
| A person with high tolerance for ambiguity has . . ? | comfort with uncertain situations. |
| Anthony is an efficient manager who meets deadlines and is decisive. His employees find him controlling and unable to see the long-term consequences of his actions. Anthony is using _________ in his decision making stlye. | directive |
| Landon has a simple rule that he follows when it comes to new hiring; if four or more of his staff are working 20% or more overtime, he hires another employee. Landon is using . . ? | heuristics |
| Before doing a performance review, Janine reviews notes she made throughout the year, rather than relying on what she remembers. Janine is attempting to avoid the _________ bias. | availability. |
| Which of the following is an advantage of group decision making? | Deeper commitment to the decision. |
| The process of involving employees in setting goals, making decisions, solving problems, and making changes is called . . ? | participative management |
| _______ uses physically dispersed experts who fill out questionnaires to generate ideas and the judgments are combined into an expert consensus. | The Delphi technique. |
| t/f: Confidential matters and issues involving discipline cannot be effectively delegated. | True. |
| t/f: An adhocracy culture attempts to create innovative products by being adaptive, creative, and quick to respond to the envirionment. | True. |
| t/f: When the National Football League annually presents the winners of the Superbowl with rings in a ceremony, it is an example of a ritual. | True. |
| t/f: Only for-profit organizations can be represented by an organization chart. | False. |
| t/f: An organization is said to be flat when there are only a few levels with wide spans of control. | True. |
| t/f: Ford Motor Co.has what is known as a divisional structure because it has different divisions for passenger car dealers, large trucking customers, and farm products customers. | True. |
| Which of the following is a good reason to avoid delegating tasks? | A fear that sensitive personnel matters will not be kept private. |
| Whats an example of an observable artifact? | Myths about the company. |
| A ritz-Carlton beach attendant who surprised a couple with flowers, candles, and champagne for the man's proposal would be considered a . . ? | Hero. |
| What cultural perspectives lead to the highest long-term financial performance? | Adaptive perspective. |
| what can be classified as a mutual-benefit organization? | Trade association |
| Another term for the chain of command of an organization is . . ? | vertical heirarchy |
| A supervisor of an assembly line has 45 employees that report to her; this would be considered a _____ span of control. | wide |
| Good job design requires matching the level of responsibility to the level of . . ? | authority |
| Among the jobs titles at Greensboro Regional Hospital are Chief of Medical Serives, Director of Administrative Services, and Director of Outpatient Services. Greensboro has a ______ structure. | functional. |
| Aurelia is working with a group from different departments in her company on a special project, yet she still has all of responsibilities of her regular job and still reports to the same manager. Aurelia is working in a _____ structure. | team-based. |
| With a _____ structure, an organization can become a boundaryless organization, with extensive operations but a small core that keeps a payroll and overhead down. | network. |
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