Exam 2 Quizzes

Question 1

What provides individuals and work units with a clear map to follow in future activities

Answer 1

planning

Question 2

The planning process is similar to the ________ process in that both have a series of steps that are typically repeated in a cycle

Answer 2

decision making

Question 3

Planning begins with

Answer 3

situational analysis

Question 4

During the Covid-19 pandemic, many companies had to implement, or develop, new ________ due to the sudden change in the environment

Answer 4

contingency plans

Question 5

The planning level with the shortest time horizon is known as ________ planning

Answer 5

operational

Question 6

strategic planning

Answer 6

involves making decisions about the organizations long term goals and strategies

Question 7

strategic goals

Answer 7

major targets or results that relate to the long term survival, value, and growth of the organization

Question 8

a strategy

Answer 8

is a patter of actions and resource allocations designed to achieve organizational goals

Question 9

tactical planning

Answer 9

translates broad strategic goals and plans into specific goals and plans that are relevant to a particular unit in the organization (customer service, human resources)

Question 10

operational planning

Answer 10

identifies specific procedures and processes required at lower levels of organization

Question 11

in operational planning front line managers focus on

Answer 11

routine tasks such as production runs, customer service product updates, delivery schedules, and the human resource requirements described in later chapters

Question 12

6 major strategic management process components

Answer 12

1. establishing mission, vision and goals
2. analyzing external opportunities and threats
3. analyzing internal strengths and weaknesses
4. SWOT (strengths, weaknesses, opportunities and threats)
5. strategy implementation
6. strategic control

Question 13

A concentric diversification strategy is a strategy

Answer 13

used to add new businesses that produce related products or are involved in related markets and activities

Question 14

The BCG matrix categorizes businesses within a conglomerate’s portfolio as cash cows, stars, question marks, and

Answer 14

dogs

Question 15

In the BCG matrix, low-growth, weak-competitive-position businesses are called

Answer 15

dogs

Question 16

Two basic ethical ideas underpin the Caux Principles: human dignity and

Answer 16

kyosei

Question 17

universalism

Answer 17

a non profit organization treats all of its employees who work in different countries with fairness and dignity

Question 18

egoism

Answer 18

acceptable behavior is that which maximizes benefits for the individual

Question 19

utilitarianism

Answer 19

directly seeks the greatest good for the greatest number of people

Question 20

relativism

Answer 20

ethical behavior based on the opinions and behaviors of relevant other people

Question 21

virtue ethics

Answer 21

is a perspective that goes beyond the conventional rules of society by suggesting that hat is moral must come also from what a mature person with good moral character would deem right

Question 22

ethical climate

Answer 22

processes by which decisions are evaluated and made on the basis of right and wrong

Question 23

danger signs of unethical behavior in your organization

Answer 23

1. excessive emphasis on short term revenues over long term considerations
2. failure to establish a written code of ethics
3. a desire for simple, quick fix solutions to ethical problems
4. an unwillingness to take an ethical stand that imposes financial costs
5. consideration of ethics solely as a legal issue or a public relations tool
6. lack of clear procedures for handling ethical problems
7. a response to the demands of shareholders at the expense of the other constituencies

Question 24

compliance based ethics programs

Answer 24

are designed by corporate counsel to prevent, detect and punish legal violations

Question 25

integrity based ethics programs

Answer 25

go beyond the mere avoidance of illegality

Question 26

making ethical decisions takes

Answer 26

moral awareness, moral judgement and moral character

Question 27

moral character

Answer 27

the strength and persistence to act n accordance with your ethics despite the challenges

Question 28

stewardship means

Answer 28

contributing to long term welfare of others

Question 29

corporate social responsibility

Answer 29

obligation toward society assumed by business

Question 30

philanthropic responsibilities

Answer 30

are additional activities that society finds desirable and that the company supports

Question 31

a transcendent educations

Answer 31

1. empathy
2. generativity (learning how to give as well take)
3. mutuality (viewing success not merely as personal gain but a common victory)
4. civil aspiration (thinking not just in terms of dont’s)
5. intolerance of inhumanity (speaking out against unethical actions)

Question 32

legal responsibilities

Answer 32

to obey local, state, federal and relevant international laws

Question 33

ethical responsibilities

Answer 33

meeting other societal expectations, not written as law