Chapter 5 Answers – Business 101

Goal setting
What is the first step in the planning component of the management​ process?
A.
Competitive analysis
B.
Budget setting
C.
Goal setting
D.
Strategic review
Leading
When managers work to guide and motivate employees to meet the​ firm’s objectives, what are they​ doing?
A.
Leading
B.
Organizing
C.
Controlling
D.
Planning
Educational expectations
A​ manager’s job is complicated by all the​ following, EXCEPT which​ one?
A.
Government regulations
B.
Educational expectations
C.
Domestic competition
D.
​Internet-related uncertainties
Planning
Determining what the organization needs to do and how best to get it done requires​ _________.
A.
Controlling
B.
Planning
C.
Leading
D.
Organizing
Took a​ top-down approach to management
Alan Mulally did all the following as a manager to change the leadership culture at​ Ford, EXCEPT which​ one?
A.
Clarified channels of communication
B.
Revamped incentive system
C.
Took a​ top-down approach to management
D.
Decentralized activities
spent on the various management functions
Top-level managers differ from​ first-line managers in the amount of time​ ________.
A.
dedicated to charitable events
B.
spent on the various management functions
C.
spent on the job
D.
spent on vacation
Plan on reallocating time spent on each basic management function.
When individuals are given a promotion from​ first-line manager to middle​ manager, what changes do they need to​ make?
A.
Speak with other middle managers and ask what they do.
B.
Plan on reallocating time spent on each basic management function.
C.
No changes need to be​ made; they can just continue doing what earned them the promotion.
D.
Plan on working longer hours
Top managers
Which level of manager is responsible for the overall performance and effectiveness of the​ company?
A.
​First-line managers
B.
Beginning managers
C.
Top managers
D.
Middle managers
Operations managers
Which area of management is responsible for​ production, inventory, and quality​ control?
A.
Operations managers
B.
Human Resource managers
C.
Marketing managers
D.
Information managers
​First-line managers
Job titles such as​ supervisor, office​ manager, project​ manager, and group leader reflect which level of​ management?
A.
Top managers
B.
Middle managers
C.
​First-line managers
D.
Beginning management
knowing what basic management skills are necessary
If a person wants to become a good​ manager, the first step is​ ________.
A.
being highly motivated
B.
knowing your weaknesses
C.
knowing your strengths
D.
knowing what basic management skills are necessary
Manage time wasters.
How can managers optimize their​ time?
A.
Avoid long trips.
B.
Manage time wasters.
C.
Delegate to more staff.
D.
Use more technology.
Problem solving
Leading causes of wasted time for managers include all the​ following, EXCEPT which​ one?
A.
Meetings
B.
Telephone calls
C.
Problem solving
D.
Paperwork
Refers to a​ person’s ability to think in the​ abstract, to diagnose and analyze different​ situations, and to see beyond the present situation
Which of the following best describes conceptual​ skills?
A.
Refers to a​ person’s ability to think in the​ abstract, to diagnose and analyze different​ situations, and to see beyond the present situation
B.
Having the ability to effectively define a problem and to select the best course of action
C.
Enables a manager to understand and get along with other people
D.
Needed to perform specialized tasks
Disseminator
When managers transmit relevant information back to others in the​ workplace, they are serving as​ what?
A.
Spokesperson
B.
Resource allocator
C.
Disseminator
D.
Entrepreneur
jointly agree with each employee
When setting goals for their own​ department, managers should​ ________.
A.
check with other managers first
B.
jointly agree with each employee
C.
unilaterally set goals
D.
normalize all goals
perform a SWOT analysis
To develop effective strategies a manager should first​ ________.
A.
review the previous​ year’s strategies
B.
talk with the planning department
C.
encourage employee participation
D.
perform a SWOT analysis
strategic management
The process of helping an organization maintain an effective alignment with its environment is known as​ ________.
A.
corporate strategy
B.
strategy
C.
setting goals
D.
strategic management
What business a company operates and how it can be successful.
Which best describes the link between corporate strategy and business​ strategy?
A.
One is global and the other is operational.
B.
Corporations focus on global​ strategies, whereas business strategies reflect domestic activities.
C.
What business a company operates and how it can be successful.
D.
One is hands​ on; the other is hands off.
Goal setting guarantees company success.
The purpose of goal setting includes all of the​ following, EXCEPT which​ one?
A.
Goal setting guarantees company success.
B.
Goal setting helps firms allocate resources.
C.
Goal setting provides direction and guidance for managers at all levels.
D.
Goal setting helps managers assess performance.
Global management
Which of the following is one of the key management skills necessary for the 21st​ century?
A.
Asset management
B.
Legal knowledge
C.
Global management
D.
Computing ability
To identify in advance how to cope with changes that might occur
Why is it important for a company to develop contingency​ plans?
A.
To have​ out-of-the-box thinking
B.
To avoid complacency
C.
To identify in advance how to cope with changes that might occur
D.
To comply with the​ company’s mission statement
the shared​ experiences, stories,​ beliefs, and norms that characterize an organization
Corporate culture is defined as​ ________.
A.
the shared​ experiences, stories,​ beliefs, and norms that characterize an organization
B.
monitoring a​ firm’s performance to make sure that it meets its goals
C.
statements of how the company can achieve its purposes in the environments in which it conducts business
D.
skills that enable the people within the company to get along with other people
To direct​ employees’ efforts and to help everyone work toward the same goals
Which of the following is one purpose of a strong corporate​ culture?
A.
To direct​ employees’ efforts and to help everyone work toward the same goals
B.
To provide rewards to those who understand the culture
C.
To change the style of management
D.
To understand the organizations founder
Analysis of the​ company’s environment highlights extensive change as the​ most-effective response to its problems.
What period of changing culture is typically characterized by conflict and​ resistance?
A.
Top management begins to formulate a vision of a new company.
B.
Setting up new systems for appraising and compensating employees who enforce the​ firm’s new values.
C.
Working with all employees to write and rewrite the​ corporation’s mission and mission statement to redirect the changing culture.
D.
Analysis of the​ company’s environment highlights extensive change as the​ most-effective response to its problems.