Management Test 2.0 Word Scramble

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Question	Answer
What does planning mean?	Choosing a goal and developing a strategy to achieve that goal
What does S.M.A.R.T mean?	Specific, Measurable, Attainable, Realistic, Timely
What is the difference between proximal goals and distal goal?	Proximal goals are short term or subgoals, Distal goals are long term or primary goals, Both are good for business (Both B&D)
Which manager develops tactical plans and management by objectives to motivate employee efforts toward the overall vision and mission?	Middle Managers
What is the correct definition of a company’s vision?	A statement of a company’s purpose or reason for existing
What is the correct order of steps to make a plan that works?	Set goals, develop commitment, develop effective action plans, track progress toward goal achievement and maintain flexibility
Goal commitment is:	The determination to achieve a goal
Maximizing is:	Choosing the best alternative
What is a proximal goal?	a short term goal
What is the standing plan that indicates the general course of action that should be taken in response to a particular event?	policy
What best describes a vision?	A statement of a company’s purpose or reason for existing
A systematic process of defining problems, evaluating alternatives, and choosing optimal solutions best describes:	Rational decision making
Unethical behavior that violates organizational norms about right & wrong is known as ____ deviance.	Workplace
What is the third step in the rational decision-making process?	Weigh the criteria
What decision-making method involves a panel of experts responding to questions and to each other until reaching an agreement on an issue?	Delphi technique
A ( ) strategy focuses on improving the way in which the company sells the same products or services to the same customers.	Stability
Which of the adaptive strategies focus on seeking moderate, steady growth by offering a limited range of products and services to a well defined set of customers?	Defenders
To achieve a ____, the resources must be valuable, rare, imperfectly, imitable, & nonsubstitutable.	Sustainable competitive advantage
What are 2 major approaches to corporate-level strategy that companies use to decide which businesses they should be in?	Portfolio strategy & Grand strategy
How can an organization achieve a competitive advantage?	By using their resources to provide greater value force customers than competitors can
Resources that are not controlled or possessed by many competing firms are:	Rare resources
Name A Core Firm	Lowe's
What is a small company with a small share of a slow growing market?	Dog
Star is:	Company with a large share of a fast growing market
What is measure of the intensity of completive behavior between companies in an industry?	Character of the rivalry
What do managers typically include in their strategic groups?	Companies that compete directly with their customers, Companies that use similar strategies (Both A&C)
Which of the following are not examples of resources?	Firms
A rare resource is…..	Not controlled or possessed by many competing firms
The central companies in a strategic group is known as what?	Core firms
What are the four symbols used by the Boston Consulting Group (BCG) in the BCG Matrix?	Question mark, Star, Dollar Sign, Dogs
When a company makes an attach on its direct competitor, what move by its competitor does it prompt?	Response
How many steps are in the Strategy-Making Process?	3
Core firms are?	The central companies in a strategic group
What does unfreezing mean?	Getting the people affected by change to believe that change is needed
What does creativity mean?	The production of novel and useful ideas
Technology cycle is:	A cycle that begins with a new technology and ends when that technology reaches its limits and is replaced by a newer one.
Opposition to change resulting from self interest, misunderstanding, and a general intolerance for change is known as:	Resistance to change
The phase of a technology cycle characterized by technological substitution and design competition is which of the following?	Discontinuous change
Which of the following are considered to be errors that managers make when leading change?	All of the above
Sometimes the _____ to a problem ____ another problem.	solution, causes
Which of the following are not components of creative work environment?	Lack of leadership Impediment
Managing resistance to change is:	All of the above
What are the general steps of organizational development?	all of the above
Using formal power and authority to force others to change is known as?	Coercion
Getting people who are affected by the change to believe that the change is needed is called:	Unfreezing
When companies don’t anticipate, recognize, neutralize, or adapt to the internal or external pressures that threaten their survival, what occurs?	Organizational decline
Forces that support the existing state of conditions in organizations are what type of forces?	Resistance forces
Technological ____ is a scientific advance or a unique combination of existing technologies creates a significant breakthrough in performance of function.	Discontinuity
What’s a component of creative work environment?	Both B & C
Refreezing is supporting and reinforcing	the new changes so that they stick
In which stage of organizational decline will management announce “belt tightening” plans designed to cut costs, increase efficiency, and restore profits?	faulty action stage
What is one of the largest and most important regional trading groups in Asia?	ASEAN
An agreement in which a foreign business owner pays a company a fee for the right to conduct a business in his or her country is a	Cooperative contract
Government imposed regulations that increased the cost and restrict the number of imported goods is called ______.	Trade barriers
Franchise is a collection networked firms in which the manufacturer or service, the ______, licenses the entire business to another person or organization, the ______.	Franchisor; franchisee
What is the most important factor in an attractive business climate?	Access to a growing market
There are two factors that help companies determine the growth potential of foreign markets; they are:	Purchasing power and foreign competitors
Foreign offices, facilities, or manufacturing plants that is owned 100% by the parent company is a(n)?	Wholly Owned Affiliate
What is the biggest disadvantage to a wholly owned affiliate?	Expense
What are quotas?	Specific limits on the number or volume of imported products
What is a tariff?	A direct tax on imported goods
The Maastricht Treaty is a regional trade agreement between most European countries, which of the following was not one of the countries?	China
The GATT is a worldwide trade agreement that reduces and eliminates tariffs, limits governement subsidies, and establishes protections for intellectual property. What does GATT stand for?	General Agreements on Tariffs and Trade
What reason would a company have for choosing a location in a foreign country?	All of the above
Who recognized the five cultural differences, power distance, individualism, masculinity, uncertainty avoidance, and short-term versus ling-term orientation?	Geert Hofstede
A strategic alliance is:	When two companies combine recourses, costs, risk, technology, and people
What is a joint venture?	A strategic alliance in which two existing companies collaborate to form a third, independent company
________ is an active strategy to prevent or reduce political risks?	Control
When conducting a global business, companies should attempt to identify two types of political risks.	Political Uncertainty & Policy Uncertainty

Created by: BeccaLeigh756