BK Chapter 1

Question 1

Top-level managers are also called tactical managers because they must translate general goals into specific objectives and activities (T/F)

Answer 1

False

Question 2

Social capital is the goodwill you gain from your social relationships (T/F)

Answer 2

True

Question 3

Managers need technical skills to perform specialized tasks (T/F)

Answer 3

True

Question 4

Creativity is defined as the introduction of new goods and services (T/F)

Answer 4

False

Question 5

Organizing sets the stage for action (T/F)

Answer 5

False

Question 6

Lower-level managers who possess technical skills tend to earn less credibility from their subordinates than comparable managers without technical know-how. (T/F)

Answer 6

False

Question 7

You can gain a competitive advantage by delivering on just one of the sources listed in the textbook (T/F)

Answer 7

False, You need innovation, quality, service, speed, cost competitiveness, and sustainability to gain a competitive advantage

Question 8

Globalization is not a major challenge that managers are facing (T/F)

Answer 8

False

Question 9

There are 6 sources of a competitive advantage: innovation, quality, service, speed, cost competitiveness, and sustainability (T/F)

Answer 9

True

Question 10

One of the five key elements that make the current business environment different from those of the past involves an increasingly diverse workforce (T/F)

Answer 10

True