Exam 1

Question 1

April works to accomplish the company goals in an efficient and effective manner, utilizing her employees through

Answer 1

Managing

Question 2

Which one of the following is one way to think about management?

Answer 2

the art of getting things done through people

Question 3

Management is defined as the pursuit of organizational goals_____ and _____

Answer 3

efficiently and effectively

Question 4

According to the __________, taking care of customers is essential to obtaining a competitive advantage.

Answer 4

first law of business

Question 5

Even for nonprofits, sooner or later there will be no organization without _______

Answer 5

Customers

Question 6

Today, companies emphasize _________ with production.

Answer 6

efficiency

Question 7

________ is the discipline concerned with creating computer systems that simulate human reasoning and sensation.

Answer 7

Artificial intelligence

Question 8

What are the four principal functions of management?

Answer 8

planning, organizing, leading, and controlling

Question 9

According to management scholar Henry Mintzberg which of the following is true of managers?

Answer 9

They have work that is characterized by fragmentation, brevity, and variety

Question 10

True or False: Telecommuting has been found to enhance employee satisfaction and performance.

Answer 10

True

Question 11

True or False: Mintzberg concluded that managers play three broad types of roles: interpersonal, analytical, and critical.

Answer 11

False

Question 12

True or False: At times, to be efficient in management means NOT using resources in the most cost-effective way.

Answer 12

False

Question 13

Research shows that ________ is a key trait of successful people.

Answer 13

Resilience

Question 14

According to Robert Katz, which three skills do managers develop through education and experience?

Answer 14

technical, conceptual, human

Question 15

____ is based on the belief that facing hard facts about what works and what doesn’t will help organizations perform better.

Answer 15

Evidence-based management

Question 16

Which three approaches to management are considered historical perspectives?

Answer 16

Classical, Behavioral, Quantitative

Question 17

Which of the following is a key benefit of studying theoretical perspectives on management?

Answer 17

They serve as a guide to action and a source of new ideas.

Question 18

Chen has been studying the actions that his workers perform in an attempt to improve their productivity. He is utilizing

Answer 18

Scientific management

Question 19

Frank and Lillian Gilbreth identified 17 basic units of motion that they called.

Answer 19

therbligs.

Question 20

A pay structure in which more efficient workers earn higher wages, as coined by Frederick W. Taylor is known as a(n) ___

Answer 20

differential rate system

Question 21

_____ was the father of scientific management.

Answer 21

Frederick Taylor

Question 22

Hiro is interested in implementing the principles of administrative management, which involves

Answer 22

managing the total organization.

Question 23

The management approach that emphasized ways to manage work more efficiently is the ____ approach

Answer 23

Classical

Question 24

Hugo Munsterberg is known as

Answer 24

the father of industrial psychology

Question 25

True or false: Peter Drucker opposed capitalism and believed that managers were more of a hindrance than a help to most organizations.

Answer 25

False

Question 26

True or false: Synergy- the idea that two or more forces combined create an effect greater than the sum of their individual effects.

Answer 26

True

Question 27

True or false: Over half of millennials believe that companies operate to meet society's needs first and their own agenda second.

Answer 27

False

Question 28

True or false: "Good" corporate boards have balanced gender representation

Answer 28

True

Question 29

True or false: Forces of general environment: economic, technological, sociocultural, demographic, political-legal, and international

Answer 29

True

Question 30

Identify a way in which an organization can promote high ethical standards on the job.

Answer 30

Reward ethical behavior.

Question 31

Julian attended a workshop that discussed the triple bottom line which measures an organization's ___ performance.

Answer 31

Social, environmental, and financial

Question 32

A systematic assessment of an organization's performance in implementing socially responsible programs is a __

Answer 32

Social audit

Question 33

An organization's internal stakeholders consist of

Answer 33

the board of directors, employees, and owners.

Question 34

A supplier is an external stakeholder that

Answer 34

provides raw materials, services, equipment, labor, or energy.

Question 35

Hundreds of shoppers visit Zion Market to buy food for their home or business. These shoppers are ___ of Zion.

Answer 35

customers

Question 36

Which type of funding raises small amounts of money from many people to finance a new venture?

Answer 36

crowdfunding

Question 37

Globalization is the trend

Answer 37

of the world economy toward becoming a more interdependent system.

Question 38

True or false: A nation's culture is the shared set of beliefs, values, knowledge, and patterns of behavior common to a group of people.

Answer 38

True

Question 39

True or false: NAFTA is a trade bloc consisting of the United States, Canada, Panama, and Mexico

Answer 39

Flase: Only with the United States, Canada, and Mexico.

Question 40

True or False: The "most favored nation" describes a condition in which a country grants other countries favorable trading treatment.

Answer 40

True

Question 41

Grant systems of ______ are the hallmark of great civilizations.

Answer 41

Communications

Question 42

Fresh Toppings is based in Sacramento, California and has restaurants in 25 countries. Fresh toppings is a

Answer 42

multinational corporation

Question 43

Ethnocentric managers believe that their native country, culture, language, and behavior________

Answer 43

are superior to all others.

Question 44

Many companies are interested in expanding globally in order to

Answer 44

gain access to supplies, new markets, and lower labor costs.

Question 45

W-Truffles makes desserts and sells its products to customers in other countries. W-truffles is _____ it's products.

Answer 45

exporting

Question 46

Counter trading is __ goods for goods

Answer 46

bartering

Question 47

A company is licensing its products when it

Answer 47

allows a foreign company to pay it a fee to make or distribute the product.

Question 48

Free trade is

Answer 48

products moving between countries without political or economic obstruction.

Question 49

Prior to 1990, the United States imposed a tax, known as a(n) ________, on automobiles imported from Mexico.

Answer 49

tariff

Question 50

The United States limits the amount of cheese purchased from other countries; this is a(n) _____ policy

Answer 50

import quota

Question 51

What are the levels of management from top to bottom?

Answer 51

Top, Middle, First-line, team leaders, nonmanagerial employees

Question 52

What are the 3 types of organizations

Answer 52

For-profit, nonprofit, and mutual benefit.

Question 53

What are the triple bottom lines? (2)

Answer 53

1. People Planet, and Profit, 2. Social, Environmental, and financial.

Question 54

4 ways to solve ethical dilemmas:

Answer 54

utilitarian, individual, moral rights, and justice

Question 55

One of four approaches to solving ethical dilemmas; ethical behavior is guided by what will result in the greatest good for the greatest number of people

Answer 55

Utilitarian approach

Question 56

One of four approaches to solving ethical dilemmas; ethical behavior is guided by what will result in the individual’s best long-term interests, which ultimately are in everyone’s self-interest

Answer 56

Individual approach

Question 57

One of four approaches to solving ethical dilemmas; ethical behavior is guided by respect for the fundamental rights of human beings

Answer 57

Moral-rights

Question 58

One of four approaches to solving ethical dilemmas; ethical behavior is guided by respect for impartial standards of fairness and equity

Answer 58

Justice

Question 59

The “shrinking” of time and space as air travel and the electronic media have made it easier for the people around the globe to communicate with one another

Answer 59

Global village

Question 60

The increasing tendency of the economies of the world to interact with one another as one market instead of many national markets

Answer 60

Global Economy

Question 61

Ethnocentric managers

Answer 61

Managers who believe that their native country, culture, language, and behavior are superior to all ­others

Question 62

Polycentric managers

Answer 62

Managers who take the view that native managers in the foreign offices best understand native personnel and practices, and so the home office should leave them alone

Question 63

Geocentric managers

Answer 63

Managers who accept that there are differences and similarities between home and foreign personnel and practices and that they should use whatever techniques are most effective