unit 1 exam

Question 1

____ is the process of working with people and distributing resources to achieve goals efficiently and effectively

Answer 1

management

Question 2

____ is the level to which people or organizations achieve agreed-upon goals

Answer 2

effectiveness

Question 3

____ is using the smallest amount of resources to achieve the greatest output

Answer 3

efficiency

Question 4

The four major tasks of managers are p____, o____, l____, and c____

Answer 4

planning, organizing, leading, controlling

Question 5

____ is the process of setting goals for the future, designing strategies, and deciding on the actions and resources needed to achieve success

Answer 5

planning

Question 6

____ is the process of orchestrating people, actions, resources, and decisions to achieve goals

Answer 6

organizing

Question 7

____ is the process of effectively motivating and communicating with people to achieve goals

Answer 7

leading

Question 8

____ is the process of monitoring activities, measuring results and comparing them with goals, and correcting performance when necessary

Answer 8

controlling

Question 9

The primary roles managers play in an organization are i____ roles, i____ roles, and d____ roles

Answer 9

interpersonal, informational, decisional

Question 10

____ roles are when managers build relationships with the people they work with and act as a public symbol for the many people they represent

Answer 10

interpersonal

Question 11

____ roles are where managers gather, assess, and communicate information to individuals and teams in support of the organization’s values, mission, vision, and goals

Answer 11

informational

Question 12

____ roles in which managers are responsible for making judgements and decisions based on available information and analysis of the situation

Answer 12

decisional

Question 13

The two types of entrepreneurial mindset are a f____ mindset and a g____ mindset

Answer 13

fixed, growth

Question 14

A ____ mindset is where people believe their talents, intelligence, and abilities are set traits

Answer 14

fixed

Question 15

A ____ mindset is where people believe their talents, intelligence, and abilities can be developed through dedication, effort, and persistence

Answer 15

growth

Question 16

Today’s leaders put social and environmental impacts before profit to drive their decision-making, something that is called the triple bottom line, or the 3 Ps: ____, ____, and ____

Answer 16

people, planet, profit

Question 17

____ organizations have fewer than 100 employees

Answer 17

small

Question 18

____ organizations have between 100 and 500 employees

Answer 18

midsize

Question 19

____ organizations have more than 500 employees

Answer 19

large

Question 20

A ____-____ company is a newly formed organization with limited or no operational history

Answer 20

start-up

Question 21

A ____ ____ has operations in multiple countries and usually more than 10,000 employees that designs, develops, and sells products and services to customers all over the world

Answer 21

multinational corporation

Question 22

A ____ ____ focuses on increasing its annual revenue faster than its competitors

Answer 22

growth company

Question 23

____ ____ reinvest all profits back into the organization, as opposed to distributing that money to investors or employees

Answer 23

nonprofit organizations

Question 24

Managers are generally categorized as t____, m____, and l____

Answer 24

top, middle, line

Question 25

____ managers set the direction and make decisions that affect everyone in the organization

Answer 25

Top

Question 26

____ managers direct the work of first-line managers and make decisions affecting divisions or departments

Answer 26

middle

Question 27

____-____ managers make decisions affecting the daily operations for producing goods or services

Answer 27

first-line

Question 28

An organization's m____, v____, and v____ shape decision-making, products and services, beliefs, and relationships with people inside and outside the organization

Answer 28

mission, vision, values

Question 29

The ____ is the organization's central purpose that sets forth the vision

Answer 29

mission

Question 30

The ____ describes what the organization will be now and in the future

Answer 30

vision

Question 31

____ state the belief systems upheld by the organization and its employees

Answer 31

Values

Question 32

____ are talents or abilities that enable a person to complete a particular task, interaction, or process effectively and efficiently

Answer 32

Skills

Question 33

Three types of management skills are c____ skills, t____ skills, and r____ skills

Answer 33

conceptual, technical, relational

Question 34

____ skills are the ability to think through complex systems and problems

Answer 34

conceptual

Question 35

____ skills are the ability to perform job-specific tasks

Answer 35

technical

Question 36

____ skills are the ability to collaborate and communicate effectively with others

Answer 36

relational

Question 37

____ ____ is fundamental to managers when it comes to making good quick decisions

Answer 37

critical thinking

Question 38

There are two types of environments managers must deal with when operating an organization: i____ and e____

Answer 38

internal, external

Question 39

A company's ____ environment comprises the forces inside the organization that affect how managers set expectations, how employees perform their roles, and how the company interacts with stakeholders and responds to the external environment

Answer 39

internal

Question 40

____ environments are the specific and general factors outside an organization that can change how it operates

Answer 40

External

Question 41

An organization's specific environment includes the external factors that affect the organization's o____ and p____ - including customers, talent, suppliers, competitors, advocacy, and regulation

Answer 41

operations, performance

Question 42

The ____ environment is external forces that affect all organizations participating in an economy, where managers have little or no power to effect change

Answer 42

general

Question 43

____ forces in the general environment include political and legal, resource availability, economic, technological, and sociocultural factors

Answer 43

external

Question 44

____ ____ is a collection of beliefs that individuals and groups share to help their organization respond to environmental forces and changes

Answer 44

organizational culture

Question 45

There are two main components of culture: o____ and u____

Answer 45

observable, unobservable

Question 46

____ culture refers to the components of culture that we can see in an organization

Answer 46

observable

Question 47

____ culture consists of the components that lie beneath the surface of an organization, such as company values and assumptions

Answer 47

unobservable

Question 48

The ____ of an organization such as slogans, stories, rituals, and ceremonies provide members and outsiders with a better understanding of its culture

Answer 48

artifacts

Question 49

The competing values framework suggests four types of culture: c____, h____, m____, and a____

Answer 49

clan, hierarchy, market, adhocracy

Question 50

A ____ culture is a family-like working environment where employees share the same goals and values and form strong personal relationships

Answer 50

clan

Question 51

____ cultures are formal and structured places where employees are primarily guided by processes, rules, and procedures

Answer 51

hieracrchical

Question 52

____ culture emphasize interactions conducted outside the organization with a view to increasing company competitiveness

Answer 52

market

Question 53

____ cultures are creative, dynamic, fast moving, and the quickest to adapt to changing markets

Answer 53

adhocracy

Question 54

A(n) ____ ____ is a plan of action for a company to achieve its long-term goals

Answer 54

organizational strategy

Question 55

One of the main responsibilities of managers is to c____, p____, and i____ strategies to defend the company against the threat of competition, ascertain the best market position, and determine the weaknesses that might make its position vulnerable in the industry

Answer 55

create, present, and implement

Question 56

Typically, there are three levels of strategy: o____, d____, and f____

Answer 56

organizational, divisional, functional

Question 57

A ____ ____ determines how particular business units or divisions compete in a particular industry or market

Answer 57

divisional strategy

Question 58

A ____ ____ determines how employees will implement and achieve a tactical plan

Answer 58

functional strategy

Question 59

____ ____ are the characteristics of an organization's products or services that distinguish it from competitors and provide an advantage in the marketplace

Answer 59

competitive advantage

Question 60

The ____-____ typology identifies four types of strategic behavior portrayed by companies: defender, prospector, analyzer, and reactor

Answer 60

Miles-Snow

Question 61

The five forces model outlines five forces that determine what managers should expect when competing in an industry: power of s____, power of b____, s____ products and services, new e___, and r____

Answer 61

suppliers, buyers, substitute, entrants, rivalry

Question 62

A ____ ____ ____ is an obstacle that makes it difficult for an organization to enter a particular market or replicate a competitor's service and product offerings

Answer 62

barrier to entry

Question 63

Examples of ____ ____ ____ include supply-side economies of scale, demand-size economies of scale, customer switching costs, capital requirements, incumbent advantages independent of size, access to distribution channels, restrictive government policy, expected retaliation, and rivalry

Answer 63

barriers to entry

Question 64

The ____ ____ is a framework developed by the Boston Consulting Group for evaluating business units according to growth and market share, so that managers could quickly categorize their company's position in the industry where it competes

Answer 64

BCG matrix

Question 65

The four quadrants defined in the BCG matrix are s____, q____ m____, c____ c____, and d____

Answer 65

star, question mark, cash cow, dog

Question 66

A ____ ____ refers to a company that creates a new market space where there is little or no competition

Answer 66

blue ocean

Question 67

Blue ocean strategists focus on creating ____ ____ rather than competing with existing companies for customers

Answer 67

new markets

Question 68

Once managers have a good idea about where the company is positioned within the industry, they can begin a ____ ____

Answer 68

SWOT analysis

Question 69

A SWOT analysis is a method of assessing an organization's s____, w____, o____, and t____

Answer 69

strengths, weaknesses, opportunities, threats

Question 70

Many companies use the following big strategies (sometimes known as grand strategies) to boost performance and increase growth: g____ strategies, s____ strategies, and d____ strategies

Answer 70

growth, stability, defensive

Question 71

Porter developed four competitive strategies that can be adopted by organizations to gain competitive advantage: c____ l____, d____, c____ f____, and d____ f____

Answer 71

cost leadership, differentiation, cost focus, differentiation focus

Question 72

Using multiple strategies risks organizations becoming ____ ____ ____ ____, meaning that they begin to lose focus on the direction of the organization

Answer 72

stuck in the middle

Question 73

Trader Joe's having value based food and beverages, being high quality, and superior customer service is an example of their ____

Answer 73

planning

Question 74

Trader Joe's products, suppliers, product placements, "one in one out", and real estate are examples of their ____

Answer 74

organizing

Question 75

Trader Joe's HR, employees, and labels are examples of their ____

Answer 75

leading

Question 76

Trader Joe's customer feedback and competitor price cuts are examples of their ____

Answer 76

controlling

Question 77

____ ____ is a process involving managers from all parts of the organization of formulating and implementing strategies to accomplish long-term goals and to sustain competitive advantage

Answer 77

strategic management

Question 78

The strategic management process: D____ ____ and ____ E____ ____ F____ ____ ____ ____ ____ I____ ____ N____ E____ ____

Answer 78

define mission and goals, evaluate situation, formulate plan after mission review, implement plan, now, evaluate performance

Question 79

Spirit and Frontier Airlines are examples of ____ ____

Answer 79

cost leadership

Question 80

Delta, American Airlines, and Southwest are examples of ____

Answer 80

differentiation

Question 81

Allegiant is an example of a ____ ____ ____

Answer 81

focus cost leader

Question 82

Emirates is an example of ____ ____

Answer 82

focus differentiation

Question 83

____ is a system of shared meaning that dictates how organizational members behave. Suggests the correct way to do things. "Personality" of the organization

Answer 83

culture

Question 84

Clues to culture include the v____ of the founder/CEO, s____, p____, r____, and m____

Answer 84

values, symbols, practices, rituals, and myths

Question 85

____ is a process of influence for directing behavior toward accomplishing goals

Answer 85

leadership

Question 86

The most commonly recognized source of leadership involves the ____ that leaders exercise over their followers

Answer 86

influence

Question 87

____-____ can be best described simply as the process of influencing oneself

Answer 87

self-leadership

Question 88

____ ____ ____ views the adoption and change of human behavior as a complex process with many parts

Answer 88

social cognitive theory

Question 89

____ ____ ____ emphasizes the importance of the "natural" rewards that we enjoy when we take part in activities or tasks that we like

Answer 89

intrinsic motivation theory

Question 90

Examples of ____ ____: - setting goals - giving orders - encouragement - expectations - threats

Answer 90

before behavior

Question 91

Examples of ____ ____: - rewards such as praise, money, promotion - punishments such as verbal reprimand, dismissal, demotion

Answer 91

after behavior

Question 92

The three sources of leadership are e____ leadership, p____ leadership, and s____ leadership

Answer 92

external, participative, self

Question 93

In Chapter 1 of your textbook, the authors provide a "self leadership in the movies" feature to provide a creative example of someone who practiced self-leadership to achieve success. This feature profiled ____

Answer 93

Rocky

Question 94

Dr. Neck recently showed us a video about the GoPro company to specifically illustrate which management concept of ____ ____ ____ ____

Answer 94

Porter's Generic Business Strategies