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MGT FINAL EXAMINATION \ > FINAL EXAM > Flashcards

FINAL EXAM Flashcards

1
Q

Ensures that a company is achieving what it set out to accomplish. It compares performance.

A

Evaluation and Control

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2
Q

It is the end result of the activity. It is based on the organizational unit to be appraised and the objectives to be achieved

A

Performance

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3
Q

Specify what is to be accomplished by focusing on the end result of the behaviors through the use of objectives and performance targets or milestones

A

Output control

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4
Q

Emphasize resources, such as knowledge, skills, abilities, values, and motives of employees

A

Input Control

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5
Q

Specify how something is to be done through: policies, rules, standard operating procedures, and orders from a superior

A

Behavior control

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6
Q

Recently developed accounting method for allocating indirect and fixed costs to individual products or product lines based on the value- added activities going into that product

A

Activity-based costing (ABC)

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7
Q

A corporate wide, integrated process for managing uncertainties that could negatively or positively influence the achievement of the corporation’s objectives

A

Enterprise Risk Management (ERM)

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8
Q

What are the traditional financial measures?

A

Return on Investment, Earning Per Share, Return on Equity
(ALL OF THE ABOVE)

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9
Q

Combines financial measures that tell the results of actions already taken with operational measures on customer satisfaction, internal processes, and the corporation’s innovation and improvement activities the drivers of future financial performance.

A

Balanced scorecard

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9
Q

Defined as the present value of the anticipated future stream of cash flows from the business plus the value of the company if liquidated.

A

Shareholder value

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9
Q

Which of the following areas the management develops goals and objectives?

A

Innovation and Learning

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10
Q

Measures that are essential for achieving a desired strategic option

A

Key performance measures

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11
Q

During series strategy formulation and implementation, top management approves a of programs and supports ______________ from its business units.

A

Operating Budget

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12
Q

This is typically done monthly. In addition, top management will probably require _______________ summarizing data on such key factors as the number of new customer contracts, the volume of received orders, and productivity figures

A

periodic statistical reports
(not A & B)

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13
Q

Resources are measured in dollars, without consideration for service or product costs. Thus, budgets will have been prepared for engineered expenses (costs that can be calculated) and for discretionary expenses (costs that can be only estimated). It is typically established whenever an organizational unit has control over both its resources and its products or services.

A

Expense centers

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14
Q

Primarily used in manufacturing facilities Computed for cash operation based o historical data. The result is the expected cost of production, which is then compared to the actual cost of production

A

Standard cost centers

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14
Q

It can be thought of as “the pattern of planned human resource deployments and activities intended to enable an organization to achieve its goals.”

A

Strategic human resource management (SHRM)

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15
Q

Which of the following are the Components of Strategic Management

A
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15
Q

It allows for consideration of human resource issues during the strategy formulation process

A

Two-Way Linkage

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16
Q

It is based on continuing rather than sequential interaction.

A

Integrative Linkage

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16
Q

Levels of integration focused on day-to- day activities

A

Administrative Linkage

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17
Q

T OR F: The role of the HRM function in strategic management is to ensure that the company has the proper number of employees with the levels and types of skills required by the strategic plan

A

TRUE

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18
Q

T OR F: For a company to have a good strategy
foundation, certain tasks must be
accomplished in pursuit of the company’s
goals, individuals must possess certain
skills to perform those tasks, and these
individuals must be motivated to perform
their skills effectively

A

TRUE

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19
Q

T OR F: According to Michael Porter of Harvard, jobs that can be executed by a single competitive advantage stems from A company’s being able to create value in its production process. Value can be created in one of two ways. First, value can be created by reducing costs. Second, value can be created by differentiating a product or service in such a way that it allows the company to charge a premium price relative to its competitors.

A

TRUE

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20
Q

A strategy focusing on increasing market share, reducing costs, or creating and maintaining a market niche for products and services.

A

Concentration Strategy

21
Q

Focus on new market and product. development, innovation, and joint ventures

A

Internal Growth Strategy

22
Q

The planned elimination of large numbers of personnel, designed to enhance organizational effectiveness

A

Downsizing

23
Q

It consists of the strategies that evolve firm the grassroots of the organization and can be thought of as what organizations do, as opposed to what they intend to do

A

Emergent Strategies

23
Q

A process of analyzing tasks necessary for the production of a product or service before assigning tasks to a particular job category or person. After thoroughly understanding the workflow design, we can make decisions regarding how to initially bundle various tasks into discrete jobs that can be executed by a single person.

A

Work-flow design

24
Q

Refers to the relatively stable and formal network of vertical and horizontal Interconnections among jobs that constitute the organization After understanding how job relates to different levels and functional areas, we can make informed decisions on how to design or improve jobs to benefit the entire organization

A

Organizational structure

25
Q

The activities that members of a work unit engage in to produce given output. The process consists of operating procedures and these procedures include all the tasks that must be performed in the production of the output.

A

Work processes

26
Q

The processes that emphasize manufacturing
goods with a minimum amount of time,
materials, money, and people to leverage
technology and flexible, well-trained, and
skilled personnel to produce more custom
products for less

A

Lean Production

27
Q

A systematic investigation of tasks, duties,
and responsibilities of a job and the
necessary knowledge, skills, and abilities
of the person who needs to perform the job
adequately Organizations need to
understand and match job requirements and people to achieve high-quality
performance.

A

job analysis

28
Q

Use large groups of low-skilled employees
to churn out long runs of identical mass
products stored in inventories for later sale

A

Batch Work Methods

29
Q

An effort where job responsibilities and tasks are reviewed, and possibly re- allocated among staff, to improve output Redesigning jobs lead to improvements in both productivity and job satisfaction

A

Job redesign

29
Q

Identifies the most qualified applicants for employment. It is necessary to determine the task that will be performed by the individual hired and the knowledge, skills, and abilities the individual must have to perform the job effectively.

A

Selection

30
Q

The process of increasing the knowledge and skills of an employee for doing a particular job. It involves the development of skills that are usually necessary to perform a specific job.

A

Training

31
Q

A regular review of an employee’s job performance and overall contribution to a company. Through job analysis, the organization can identify the behaviors and results that distinguish ineffective performance

A

Performance appraisal

31
Q

A systematic way of determining the value/worth of a job about other jobs in an organization. It tries to make a systematic comparison between jobs to assess their relative worth to establish a rational pay structure

A

Job evaluation

32
Q

T OR F: Unstructured Interviews follow systematic approach where employees are Interviewed accurately and consistently

A

FALSE

33
Q

Vertical expansion of a job by adding planning responsibilities and decision-making responsibilities

A

Job enlargement

33
Q

T OR F: The questionnaire job analysis method requires employees, supervisors, and managers to fill out forms, namely questionnaires. It’s one of the most widely used job analysis methods because it’s inexpensive to create and easy to distribute to numerous individuals at a faster rate

A

TRUE

34
Q

Enables job analysts to observe employees in their daily routines. The information collected through observation is extremely useful and reliable since it’s via first-hand knowledge

A

Observation method

35
Q

T OR F: The motivational approach to job design focuses on the job characteristics that affect the psychological meaning and motivational potential, and it views Attitudinal variables as the most important outcomes of job design

A

TRUE

36
Q

The consistency of a performance measure, the degree to which a performance measure is free from random error, refers to the measuring Instrument rather than the characteristic itself.

A

Reliability

37
Q

The degree to which the information provided by selection techniques enhances the effectiveness of selecting personnel in organizations.

A

Utility

38
Q

T OR F: The training design process refers to a systematic approach to designing training programs to be effective and produce learning

A

TRUE

39
Q

T OR F: Person analysis includes identifying the important tasks and knowledge, skills, and behaviors that need to be emphasized in training for employees to complete their tasks

A

TRUE

39
Q

An employee sent by his or her company to manage operations in a different country.

A

Expatriate

39
Q

The Strategic Management Journal was created

A

1980

40
Q

Sun Tzu’s The Art of War provides a classic handbook on military strategy with numerous business applications, such as the idea that “win without fighting is best.” This type of approach was used by businesses.

A

500 BC

41
Q

Moses uses hierarchical delegation of authority during the exodus from Egypt Dividing a large set of people into smaller groups creates a command structure that enables strategies to be implemented

A

1491 BC

42
Q

Machiavelli’s book The Prince offers clever recipes for success to government leaders. Some of the book’s suggestions are quite devious, and the word Machiavellian comes to refer to acts of deceit and manipulation

A

1532

43
Q

The American Civil War ends. Historians consider the Confederacy to have had better generals, but the Union possessed greater resources Sometimes good strategies simply cannot overcome a strenge. adversary.

A

1865

44
Q

T OR F: International strategy is a strategy through which the firm sells its goods or services outside its domestic market.

A

TRUE

45
Q

TOR F: By expanding the number of markets in which they compete, firms can enjoy economies of scale, particularly in manufacturing operations

A

TRUE

46
Q

T OR F: A global strategy is an international strategy in which a firm’s home office determines the strategies that business units are to use in each country or region

A

FALSE

46
Q

T OR FALSE: By Licensing is an entry mode in which an agreement is formed that allows a foreign company to purchase the right to manufacture and sell a firm’s products within a host country’s market or a set of host countries markets. The licensor is normally paid a royalty on each unit produced and sold

A

TRUE

46
Q

T ORE F: Regionalization is a second global environmental trend influencing a firm’s choice and use of international strategies.

A

TRUE

47
Q

T OR F:
By International diversification strategy is a strategy through which a firm expands the sales of its goods or services across the borders of global regions and countries into a potentially large number of geographic locations or markets.

A

TRUE

MGT FINAL EXAMINATION \ (1 decks)

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