Chapter 1 Test

Question 1

Management is defined as:

a.The process of allocating financial resources within an organization
b.The coordination of administrative tasks within a department
c.The implementation of marketing strategies to increase sales
d.The pursuit of organizational goals efficiently and effectively

Answer 1

d.The pursuit of organizational goals efficiently and effectively

Question 2

Efficiency is defined as:

a. The ability to adapt to changing market trends
b.The process of creating new products
c. The management of financial resources
d. the means of attaining the organization’s goals

Answer 2

the means of attaining the organization’s goals

Question 3

effectiveness is defined as:

The process of optimizing resource allocation
Regards the organization’s ends, the goals
The ability to respond to market changes
The implementation of marketing campaigns

Answer 3

regards the organization’s ends, the goals

Question 4

What are the four functions of management?

Planning, Organizing, Leading, and Controlling
Budgeting, Communicating, Evaluating, and Supervising
Designing, Monitoring, Executing, and Analyzing
Negotiating, Delegating, Motivating, and Reviewing

Answer 4

Planning, Organizing, Leading, and Controlling

Question 5

what are the tasks of a top manager?

a. Supervising daily operations, Implementing short-term plans, Managing frontline employees, and Solving routine problems

b.Conducting market research, Developing product prototypes, Implementing marketing campaigns, and Managing customer relationships

c. Making long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it
d. Analyzing financial statements, Allocating resources, Monitoring productivity, and Evaluating employee performance

Answer 5

Making long-term decisions about the overall direction of the organization and establish the objectives, policies, and strategies for it

Question 6

what are the tasks of middle managers?

a. Implementing the policies and plans of the top managers above them and supervising and coordinating the activities of the first-line managers below them
b.Developing long-term strategies, Setting organizational goals, Leading strategic initiatives, and Evaluating market trends
c. Training new employees, Resolving conflicts between departments, Handling customer complaints, and Managing inventory
d. Analyzing financial data, Creating budgets, Tracking expenses, and Forecasting revenue

Answer 6

Implementing the policies and plans of the top managers above them and supervising and coordinating the activities of the first-line managers below them

Question 7

what are the tasks of first-line managers?

Developing strategic plans, Setting organizational objectives, Allocating resources, and Evaluating performance metrics

Creating marketing campaigns, Conducting product research, Managing supplier relationships, and Analyzing customer feedback

Reviewing financial reports, Forecasting budget needs, Negotiating contracts, and Monitoring cash flow

Making short-term operating decisions, directing the daily tasks of non-managerial personnel

Answer 7

Making short-term operating decisions, directing the daily tasks of non-managerial personnel

Question 8

technical skills are defined as

Interpersonal abilities required to work effectively in teams
Leadership qualities necessary to manage diverse teams
Consist of the job-specific knowledge needed to perform well in a specialized field
Problem-solving skills essential for addressing complex issues

Answer 8

Consist of the job-specific knowledge needed to perform well in a specialized field

Question 9

conceptual skills are defined as

a. Technical expertise in a specialized field
b. Interpersonal communication abilities
c. Efficiency in completing tasks
d. The ability to think analytically, visualize an organization as a whole, and understand how the parts work together

Answer 9

The ability to think analytically, visualize an organization as a whole, and understand how the parts work together

Question 10

soft skills are defined as

Technical abilities required for specific job tasks
Conceptual understanding of organizational strategies
Leadership qualities for guiding teams
Interpersonal “people” skills needed for success at all levels

Answer 10

Interpersonal “people” skills needed for success at all levels

Question 11

What is scientific management?
Focuses on maximizing employee satisfaction and morale
Applies the scientific study of work methods to improving the productivity of individual workers
Emphasizes the use of technology to automate tasks
Aims to increase customer engagement and loyalty

Answer 11

Applies the scientific study of work methods to improving the productivity of individual workers

Question 12

scientfic management has 4 principles:

Innovate, collaborate, measure, optimize
Plan, execute, review, adjust
Evaluate, carefully, give, use
Analyze, delegate, monitor, adjust

Answer 12

Evaluate, carefully, give, use

Question 13

Scientific management examples:

a. Hospitals, hotels and fast-food restaurants

b. Schools, construction companies, and retail stores

c. Law firms, art galleries, and automotive repair shops

d. Museums, fitness centers, and travel agencies

Answer 13

Hospitals, hotels and fast-food restaurants

Question 14

What is behaviorism?

a. Focuses on the study of animal behavior in laboratory settings.
b. Advocates for the use of punishment as a primary motivator in the workplace.
c. Emphasizes the importance of understanding human behavior and of motivating employees toward achievement.
d. Suggests that human behavior is primarily driven by unconscious desires and conflicts.

Answer 14

Emphasizes the importance of understanding human behavior and of motivating employees toward achievement.

Question 15

What is the Hawthorne Effect?

a. A concept in organizational psychology that focuses on employee motivation through financial incentives.
b. A management theory that emphasizes strict supervision and control over employees.
c. The idea that employees work harder when they feel valued and cared for by their supervisors.
d. An economic principle related to supply and demand in labor markets.

Answer 15

The idea that employees work harder when they feel valued and cared for by their supervisors.

Question 16

What did Mary Parker Follett believe?
a. Employees should have limited involvement in decision-making processes within organizations.
b. Organizations should be hierarchical with strict top-down control.
c. Employees had good ideas and should participate in decision-making processes, advocating for democratic organizations.
d. Managers should make all decisions independently without input from employees.

Answer 16

c. Employees had good ideas and should participate in decision-making processes, advocating for democratic organizations.

Question 17

What were Mary Parker Follett’s most important ideas?
a. Organizations should operate as communities.
b. Conflicts should be resolved through open communication between managers and workers.
c. The work process should be under the control of workers.
d. All of the above.

Answer 17

All of the above.

Question 18

What is quantitative management?
a. A management approach that focuses on qualitative analysis and subjective decision-making.
b. Using mathematical and statistical methods to make management decisions.
c. Managing operations without considering numerical data or analytical tools.
d. Relying solely on intuition and experience to guide management decisions.

Answer 18

b. Using mathematical and statistical methods to make management decisions.

Question 19

What is management science?
a. A management approach that prioritizes intuition and subjective judgment in decision-making.
b. Using mathematical models and quantitative analysis to solve management problems.
c. A theory that emphasizes the importance of leadership skills in managing organizations.
d. Ignoring data and relying solely on past experiences to make decisions.

Answer 19

Using mathematical models and quantitative analysis to solve management problems.

Question 20

What is operations management?
a. A management approach that prioritizes marketing and sales strategies.
b. The management of financial resources within an organization.
c. Focuses on managing the production and delivery of an organization’s products or services more effectively.
d. A theory that emphasizes employee motivation as the key to organizational success.

Answer 20

Focuses on managing the production and delivery of an organization’s products or services more effectively.

Question 21

What is quality management?
a. A management approach that prioritizes cost-cutting measures over quality.
b. Emphasizes the importance of continuous quality improvement, training, and customer satisfaction.
c. Focuses solely on maximizing profits without regard for product or service quality.
d. A theory that disregards customer feedback and preferences.

Answer 21

b. Emphasizes the importance of continuous quality improvement, training, and customer satisfaction.

Question 22

What is total quality management?
a. A management approach that focuses only on short-term profits.
b. A theory that disregards the importance of customer feedback and preferences.
c. Prioritizing quantity over quality in production processes.
d. A comprehensive approach to continuous quality improvement, training, and customer satisfaction, supported by top management throughout the organization.

Answer 22

d. A comprehensive approach to continuous quality improvement, training, and customer satisfaction, supported by top management throughout the organization.

Question 23

What are the four components of total quality management?
a. Make, create, implement, achieve
b. Plan, execute, review, adjust
c. Make, get, listen, use
d. Assess, analyze, innovate, adapt

Answer 23

Make, get, listen, use

Question 24

Where and who developed TQM?
a. TQM was developed in Germany at Volkswagen with two Japanese engineers.
b. TQM developed in Japan at Toyota with two American consultants
c. TQM was developed in the United States at Ford with two Japanese experts.
d. TQM was a collaborative effort between multiple international organizations.

Answer 24

b. TQM developed in Japan at Toyota with two American consultants

Question 25

What is a learning organization?
a. An organization that actively creates, acquires, and transfers knowledge within itself and modifies its behavior based on new knowledge.
b. An organization that focuses solely on profit generation without considering knowledge acquisition.
c. An organization that passively accepts knowledge without actively seeking new information.
d. An organization that disregards the importance of knowledge management.

Answer 25

a. An organization that actively creates, acquires, and transfers knowledge within itself and modifies its behavior based on new knowledge.

Question 26

Who coined the concept of a Learning Organization?
a. Peter Drucker
b. Peter Senge
c. Peter Drucker and Peter Senge together
d. Peter Seige

Answer 26

b. Peter Senge

Question 27

three parts of a learning organization:
1. Creating and acquiring knowledge
2. Transferring knowledge
3. Modifying knowledge

Answer 27

three parts of a learning organization:
1. Creating and acquiring knowledge
2. Transferring knowledge
3. Modifying knowledge

Question 28

What are ethics?
a. Principles that guide decision-making in business.
b. Rules that govern interpersonal relationships.
c. The standards of right and wrong that influence behavior.
d. Guidelines for professional conduct.

Answer 28

c. The standards of right and wrong that influence behavior.

Question 29

What are values?
a. Principles that guide ethical decision-making.
b. Rules that govern societal norms.
c. Guidelines for professional conduct.
d. The relatively permanent and deeply held underlying beliefs and attitudes that help determine a person’s behavior.

Answer 29

The relatively permanent and deeply held underlying beliefs and attitudes that help determine a person’s behavior.

Question 30

What are signs of an unethical organization? correct answer: urgency and fear, isolation, fragmentation and plausible deniability, success and impunity, in-group language

Question 31

what is the utilitarian approach?
a. Pursues collective benefit
b. Considers majority welfare
c. Guided by the greatest good for the greatest number of people
d. Focuses on maximizing societal well-being

Answer 31

Guided by the greatest good for the greatest number of people

Question 32

what is the individual approach?
a. Focused on immediate gains
b. Based on personal preferences
c. Guided by everyone’s self-interest
d. Driven by emotional reactions

Answer 32

c. Guided by everyone’s self-interest

Question 33

what is the moral-rights approach?
a. Respect for fundamental rights and values
b. Focuses on legal obligations
c. Considers social norms
d. Based on individual opinions

Answer 33

a. respect for fundamental rights and values

Question 34

what is the justice approach?
a. Focuses on personal gain
b. Considers individual preferences
c. Based on subjective opinions
d. Guided by respect for impartial standards of fairness and equity

Answer 34

d. Guided by respect for impartial standards of fairness and equity

Question 35

What is the shareholder view?
a. Focuses on maximizing stakeholder welfare
b. Considers various social responsibilities
c. Believes profit is the only responsibility
d. Based on altruistic principles

Answer 35

c. Believes profit is the only responsibility

Question 36

What is the stakeholder view?
a. Believes that organizations exist to take actions that will benefit the interest of society.
b. Focuses on maximizing shareholder wealth
c. Considers various stakeholders’ interests
d. Based solely on profit maximization

Answer 36

a. Believes that organizations exist to take actions that will benefit the interest of society.

Question 37

What is the external task environment?

a. Focuses on internal operations
b. Consists of groups of individuals that present managers with daily tasks to handle
c. Involves the tasks performed by employees
d. Includes regulatory agencies

Answer 37

b. Consists of groups of individuals that present managers with daily tasks to handle

Question 38

what are general environmental factors?
a. Focuses on specific industries
b. Includes technological advancements
c. Encompasses sociocultural, economic, and demographic factors
d. Pertains to individual organizations

Answer 38

c. Encompasses sociocultural, economic, and demographic factors

Question 39

The corporate social responsibility pyramid has four levels (economic bottom, philanthropic top):
o Economic Responsibility: Make a profit.
o Legal Responsibility: Obey the law.
o Ethical Responsibility: Be ethical in its practices.
o Philanthropic Responsibility: Be a good global corporate citizen.

Answer 39

The corporate social responsibility pyramid has four levels (economic bottom, philanthropic top):
o Economic Responsibility: Make a profit.
o Legal Responsibility: Obey the law.
o Ethical Responsibility: Be ethical in its practices.
o Philanthropic Responsibility: Be a good global corporate citizen.

Question 40

What is philanthropy?
a. Making charitable donations to benefit humankind
b. Focused on maximizing profits
c. Based on personal preferences
d. Driven by emotional reactions

Answer 40

a. Making charitable donations to benefit humankind

Question 41

Who was the scholar who articulated the shareholder view of the organization

Edward Freeman
Mary Parker Follet
None of the options
Milton Friedman

Answer 41

Milton Fiedman

Question 42

To focus on improving company customer service this year, the CEO of a home goods manufacturing company outlined a list of stakeholders to concentrate on: distributors, competitors, and customers. These three groups are

internal stakeholders

In the general enviornment

external shareholders

In the external environment

Answer 42

In the external environment

Question 43

“The giving pledge” was developed by:

Jeff Bezos

Bill and Miranda Gates

Mark Zuckerburg

Madonna

Answer 43

Bill and Miranda Gates

Question 44

From the lecture, since 1958 the average life span of a S&P 500 organization has:

Increased
Stayed the same
Decreased

Answer 44

Decreased