Mgmt Quiz

Front 1

Which of the following is true about planning?

Back 1

It helps managers create task strategies.

Front 2

Which of the following is an advantage of planning

Back 2

It encourages people to work harder for extended periods.

Front 3

According to the S.M.A.R.T. guidelines, goals should be

Back 3

measurable

Front 4

The most popular approach to increasing goal commitment is

Back 4

encouraging workers' participation in goal setting

Front 5

The last step in effective planning is to

Back 5

maintain flexibility in planning

Front 6

Which of the following is an accepted method for tracking progress toward goal achievement?

Back 6

Gathering and providing performance feedback

Front 7

_____ planning allows companies to maintain flexibility by making small simultaneous investments in many alternative plans.

Back 7

Options-based

Front 8

Top management is responsible for developing ____.

Back 8

Strategic Plans

Front 9

A(n) _____ is a brief, two-sentence statement of a company's purpose for existing.

Back 9

b. organizational mission

Front 10

_____ plans specify how a company will use resources, budgets, and people to accomplish specific goals within its mission.

Back 10

Tactical

Front 11

Who among the following is responsible for the creation of tactical plans?

Back 11

b. Middle managers

Front 12

Management by objectives (MBO) is a management technique often used to develop and carry out.

Back 12

e. tactical plans

Front 13

Which of the following is the first step in management by objectives?

Back 13

d. Discussing possible goals

Front 14

Who among the following is responsible for developing operational plans?

Back 14

a. Lower-level managers

Front 15

The ____ is a type of operational plan that saves managers time because it is created once and then used repeatedly to handle frequently recurring events.

Back 15

c. standing plan

Front 16

A laptop manufacturer has created a set of methods to deal with specific technical issues raised by customers. These methods are _____.

Back 16

e. standing plans

Front 17

____ are types of standing plans.

Back 17

Policies and procedures

Front 18

Which of the following is the most specific type of standing plan?

Back 18

Rules and regulations

Front 19

Budgets are a type of ____ plans.

Back 19

operational

Front 20

____ is the process of choosing a solution from available alternatives.

Back 20

Decision making

Front 21

____ is a systematic process of defining problems, evaluating alternatives, and choosing optimal solutions.

Back 21

. Rational decision making

Front 22

A ____ exists when there is a gap between a desired state (what managers want) and an existing state (the situation that the managers are facing).

Back 22

problem

Front 23

____ occurs when managers choose an alternative that is good enough, rather than the best possible alternative.

Back 23

Satisficing

Front 24

Groupthink occurs in ____.

Back 24

b. highly cohesive groups where there is a great deal of pressure to agree with each other

Front 25

____ is the emotional reaction that can occur when disagreements become personal rather than professional.

Back 25

b. A-type conflict

Front 26

______ are the assets, capabilities, processes, information, and knowledge that an organization uses to improve its effectiveness and efficiency, to create and sustain competitive advantage, and to fulfill a need or solve a problem.

Back 26

Resources

Front 27

Organizations can achieve a _____ by using their resources to provide greater value for customers than competitors can.

Back 27

c. competitive advantage

Front 28

A _____ resource is a resource that is not controlled or possessed by many competing firms.

Back 28

rare

Front 29

The strategy-making process begins with:

Back 29

c. the assessment of the need for strategic change.

Front 30

_____ is a discrepancy between a company's intended strategy and the strategic actions managers take when actually implementing that strategy.

Back 30

e. Strategic dissonance

Front 31

A _____ is an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment.

Back 31

a. situational analysis

Front 32

Which of the following is an example of core capabilities of an organization?

Back 32

c. The organization's skill in maintaining large inventories effectively.

Front 33

_____ are the central companies in a strategic group.

Back 33

d. Core firms

Front 34

In the context of the strategic reference point theory, the _____ strategy aims to protect an existing competitive advantage.

Back 34

a. risk-avoiding

Front 35

Which of the following is an example of a common approach to corporate-level strategy?

Back 35

d. Grand strategies

Front 36

_____ is a strategy for reducing risk by buying a variety of items so that the failure of one stock or one business does not doom the entire portfolio.

Back 36

Diversification

Front 37

_____ is defined as the purchase of a company by another company.

Back 37

Acquisition

Front 38

The _____ is a portfolio strategy that managers use to categorize their corporation's businesses by growth rate and relative market share. This strategy helps them to decide how to invest corporate funds.

Back 38

e. BCG matrix

Front 39

The research on diversification in portfolio management indicates that the best approach is probably _____.

Back 39

e. related diversification

Front 40

The purpose of a _____ strategy is to increase profits, revenues, market share, or the number of places (stores, offices, locations) in which the company does business.

Back 40

growth

Front 41

Companies often choose a _____ strategy when their external environment doesn't change much or after they have struggled with periods of explosive growth.

Back 41

e. stability

Front 42

_____ consists of the strategic actions that a company takes to return to a growth strategy.

Back 42

Recovery

Front 43

A(n) _____ strategy is a corporate strategy that addresses the question "How should we compete in this line of business?"

Back 43

a. industry-level

Front 44

Which of the following is NOT one of the five industry forces that determine an industry's overall attractiveness and potential for long-term profitability?

Back 44

d. Organizational synergy

Front 45

_____ is the measure of the intensity of competitive behavior between companies in an industry.

Back 45

a. Character of the rivalry

Front 46

_____ strategies typically work in market niches that competitors have overlooked or have difficulty serving.

Back 46

Focus

Front 47

An industry-level strategy that is best suited to changes in the organization's external environment is a(n)_____ strategy.

Back 47

adaptive

Front 48

A company that is seeking to grow by taking risks and looking for innovations is best characterized as a(n) _____.

Back 48

prospector

Front 49

_____ is the rivalry between two companies that offer similar products and services, acknowledge each other as rivals, and act and react to each other's strategic actions.

Back 49

e. Direct competition

Front 50

Resource similarity and _____ are factors that determine the extent to which firms will be in direct competition with each other.

Back 50

b. market commonality

Front 51

Organizational _____ is the successful implementation of creative ideas in organizations.

Back 51

innovation

Front 52

A technology _____ begins with the birth of a new technology and ends when that technology reaches its limits and dies as it is replaced by a newer, substantially better technology.

Back 52

cycle

Front 53

Nearly all technology cycles follow the typical _____ pattern of innovation.

Back 53

a. S-curve

Front 54

_____ is defined as the knowledge, tools, and techniques used to transform inputs into outputs.

Back 54

Technology

Front 55

Over the long run, the best way for a company to sustain competitive advantage is to create _____ year after year.

Back 55

b. innovation streams

Front 56

____ is the phase of a technology cycle characterized by technological substitution and design competition.

Back 56

b. Discontinuous change

Front 57

_____ occurs when customers purchase new technologies to replace older technologies.

Back 57

b. Technological substitution

Front 58

In _____, the old technology and several different new technologies fight to establish a new technological standard or dominant design.

Back 58

e. design competition

Front 59

Which of the following is a characteristic of discontinuous change?

Back 59

a. Design competition

Front 60

When the first cell phone was released, only a few people could afford to buy it. Over the years, mobile manufacturers improved the phone designs and features and also reduced their cost to make them more affordable. This signaled the shift to the _____ stage of the technology cycle.

Back 60

e. incremental change

Front 61

The phases of a technology cycle within an innovation stream begins with:

Back 61

c. technological discontinuity.

Front 62

A technology can become a dominant design if:

Back 62

a. it solves a practical problem.

Front 63

_____ are defined as workplace cultures in which workers perceive that new ideas are welcomed, valued, and encouraged.

Back 63

b. Creative work environments

Front 64

Which of the following is NOT one of the components of creative work environments?

Back 64

e. Organizational impediments

Front 65

The _____ approach to innovation assumes that innovation is occurring within a highly uncertain environment.

Back 65

experiential

Front 66

Which of the following is NOT a part of the experiential approach to innovation?

Back 66

b. Design lockout

Front 67

The _____ approach to managing innovation assumes that innovation is a predictable process made up of a series of steps and that reducing the time it takes to complete those steps can speed up innovation.

Back 67

compression

Front 68

It is appropriate to use a(n) _____ approach to manage innovation in more certain environments, in which the goals are lower costs and incremental improvements in the performance and function of an existing technological design.

Back 68

compression

Front 69

The first step in the compression approach to innovation is _____.

Back 69

planning

Front 70

When companies don't anticipate, recognize, neutralize, or adapt to the internal or external pressures that threaten their survival, it results in _____.

Back 70

a. organizational decline

Front 71

Which of the following is a characteristic of the inaction stage of organizational decline?

Back 71

e. Managers wrongly assume that they can easily correct the problems, so they don't feel the situation is urgent.

Front 72

According to social psychologist Kurt Lewin, _____ lead to differences in the form, quality, or condition of an organization over time.

Back 72

d. change forces

Front 73

Which of the following statements about resistance to change is true?

Back 73

c. It is caused by misunderstanding and distrust.

Front 74

The three steps in the basic process of managing organizational change outlined by Kurt Lewin are ____.

Back 74

d. unfreezing, change intervention, and refreezing

Front 75

Organizational development _____.

Back 75

c. emphasizes employee participation in diagnosing, solving, and evaluating problems