1.The initial step in the decision-making process is to select an alternative evaluate the decision generate alternatives identify the problem 2.Making a decision by accepting the first option that meets your goal is referred to as optimizing minimizing accepting satisficing 3.Negative feedback received during the final evaluation of the decision indicates the problem was defined incorrectly implementation will require more resources the manager will not be allowed to have a second chance with the decision the decision was a bad choice 4.The set of important assumptions about the organization and its goals and practices that members of the company share is called organization norms organization culture industrial environment a closed system 5.Who must provide a long-term commitment in order to change an organizationâs culture? Customers and suppliers The CEO and organization managers Shareholders The government 6.Which of the following can be a useful clue about an organizationâs culture? The macroenvironment The industrial environment Information the media provides related to the organization The way the organization’s employees dress and behave 7.The macroenvironment of an organization consists of suppliers, customers, and the competition B.established, as well as new business,entering the environment C.the legal, political, economic, and social environment inputs, goods, products, and services 8.A key benefit of managers having ready access to information is the ability to increase costs gain inventory control increase their span of internal control gain a significant competitive edge 9.An example of a cooperative strategy is coalition building mergers dual legal action competitive action 10.Which statement best describes planning? A.Working with people and resources with the aim of accomplishing organizational goals B.Bringing people into the organization for achieving overall success Monitoring performance of an organization D.Making decisions related to the goals the organization will pursue 11.Which of the following involves planning? Analyzing current situations B.Determining rewards for goal achievement Implementing changes Attracting people to the organization 12.Which best defines how planning is used to deliver strategic value? A one-time process that is adhered to for the life of the organization to meet itsgoals B.Analyzing past situations to decide what type of activities the company will employ C.A dynamic process that considers the changing set of stakeholders’ needs when determining actions to achieve organizational goals D.A top-down approach, in which top executives establish business plans and direct others to implement them 15 13.Which of the following focuses on the organizing function of management? A.Mobilizing employees based on specific job responsibilities B.Coordinating a company’s human and physical resources needed to achieve goals C.Identifying business functions and establishing reporting relationships D.Analyzing current situations and the environment to determine objectives 14.Which of the following best describes a dynamic organization? A.Creating organizations that continually focus on the internal processes to achieve goals B.Building an organization by grouping jobs into work units and allocating resources C.Identifying business functions and mobilizing leaders D.Being flexible and responsive towards customer needs and the competitive environment 15.For todayâs managers, the organizing function requires a higher focus on which of the following? Establishing matrix reporting relationships B.Creating flexible and responsive organizations C.Specifying job responsibilities and grouping jobs into cross-functional work units D.Identifying business functions and allocating resources 16.The leading function for todayâs organizations necessitates taking care to minimize risks building a lean organization coordinating organizational resources D.involvement at all levels of the organization 17.As one of the key management functions, leading focuses on a managerâs efforts to A.mobilize people to contribute his or her ideas B.build organizations that are flexible and adaptive make sure goals are met D.identify opportunities for sustainable advantage 18.A managerâs ability to stimulate people to be high performers is referred to as leading organizing planning controlling 19.Through careful monitoring of the financial budgets of a firm, a manager can detect potential problems in reaching his or her financial goals and take actions to reverse the problem. This is an example of which management function? Leading Organizing Planning Controlling 20.An essential component of control includes which of the following? A.Monitoring performance and making necessary changes Mobilizing employees Assembling and coordinating resources Building a dynamic organization 21.In order to make needed adjustments, which of the following is required for the controlling function of management? Outcomes are consistent with goals Stimulating performance in employees Flexible and adaptive in leadership style D.Delivering strategic value to the Organization
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