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Study Resources (Business Management)

  67.Louis works as an artist for a major textile company and created an innovation for producing designs. The company will implement Louis’s idea as part of its ________ strategy. a.skunkworks b.angel investment c.seed capital d.entrepreneurship 68.________ percent of large firms allocate funds towards intrepreneurship. a.Twenty b.Five c.Fifteen d.Thirty 69.Former CEO George Buckley believes that the key to supporting intrapreneurship is.
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  ESSAY 18.Describe how extending decision making and activities generally handled by managers to employees can lead to employee empowerment. Provide a brief example. 19.Explain the key differences between employee stock ownership plans and employee stock option plans. 20.Define cross-functional teams and explain the emphasis on communication.     .
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  198.A trend toward decentralization has pushed decision making down to operating employees. 199.In a line organization, the staff manager has direct control over functions like production and marketing. 200.In a committee organization, the ultimate responsibility is still held by one individual. 201.In a line-and-staff organization, line departments participate directly in decision-making while staff.
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  149.A union’s bargaining process must end upon the rejection of a contract. 150.A federal arbitrator does not serve as a decision maker. 151.Only a small percentage of labor–management contract negotiations involve a work stoppage. 152.In order to use the services of an arbitrator, both union members and management must agree on the arbitrator.
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  48.Hasim is a bank manager who believes his bank should expand nationally for greater profit and efficiency. Hasim is using his ________ skills. a.supervisory b.conceptual c.Human d.technical 49.Conceptual skills are ________. a.not as important at the top management level b.most important for supervisors c.used to motivate, communicate, and lead other employees d.skills that allow a person to understand how.
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  49.Joanne performed substantially better than her supervisor had expected on predetermined department goals. Because of her excellent productivity, she received an extra $1,500 at the end of the year. Joanne was ________. a.paid an additional salary b.granted incentive compensation based on her knowledge c.given overtime pay d.awarded a gain-sharing bonus 50.Gain sharing is an employee.
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  148.Sometimes taking an ethical stand can cause a company to lose revenues. 149.An auto parts store establishes a policy requiring that customer service representatives respond to Web site e-mails within three business days. This policy is a result of the company’s operational planning. 150.Strategic planning entails developing and implementing tactics in specific.
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  TRUE/FALSE 99.Human resource departments are responsible for forecasting sales and personnel requirements, as well as recruiting new employees. 100.Training and evaluating performance are core responsibilities for human resource management. 101.A firm’s human resource plans often correspond with competitive strategies. 102.Internet recruiting is a quick but expensive way to reach a large pool of job.
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  31.List the steps involved in the decision-making process. 32.Describe leadership and power. From which sources do managers generate their power? 33.Distinguish among autocratic, democratic, and free-rein leadership. 34.Provide examples of tools managers might use to reinforce corporate culture. 35.Define centralization and decentralization. Provide an example.     .
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  89.Union contracts typically cover a time period of ________. a.less than one year b.two to three years c.five years d.more than five years 90.Collective bargaining encompasses all of the following issues EXCEPT ________. a.employee wages b.hours c.working conditions d.investor relations 91.Beatrice is trying to resolve a labor dispute. She meets with both sides, makes a number of recommendations, and suggests.
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  109.The Civil Rights Act of 1991 expanded the rights of discrimination victims to include damages for emotional distress. 110.Josh owns a trucking company and is interviewing potential drivers. Since Josh must provide weekend driver coverage, he is allowed to ask job candidates about their marital status. 111.Firms do not generally make poor.
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  37.Financial success ________. a.rarely results from starting a business b.is part of the appeal of becoming an entrepreneur c.plays little role in motivating people to become entrepreneurs d.is virtually guaranteed if people work hard enough starting their own businesses 38.Dina is a single mother who is required to work evenings and weekends at a local.
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  58.Generally, which type of manager establishes the company’s vision? a.supervisory managers b.staff managers c.middle managers d.top management 59.Vision should be ________ and ________. a.rigid; focused b.rigid; broad c.focused; flexible d.flexible; broad 60.________ planning guides the current and near-term activities required to implement overall strategies. a.Contingency b.Tactical c.Strategic d.Operational 61.Which type of planning determines the primary objectives of an organization, and then acts and allocates resources.
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  21.What are the advantages and drawbacks of virtual teams? 22.What is the ideal size for a team? What challenges do smaller or larger groups pose for team leaders? 23.Define and briefly describe the four things that managers should consider when planning and leading teams according to Ernst & Young. 24.List the five stages.
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  97.An important part of launching any new business is establishing a code of ethics. 98.Entrepreneurs are often easily discouraged by setbacks and failures. 99.Internal locus of control involves the personal belief that you control your own destiny. 100.Entrepreneurs tolerate the uncertainties associated with starting a new business. 101.Entrepreneurs take credit for both their successes.
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  ESSAY 21.Differentiate among the three levels of management and their corresponding responsibilities. 22.Identify the three basic skills necessary for managerial success and provide an example for each. 23.Describe each of the management functions. 24.Explain the role of vision and ethical standards in business success. 25.How does strategic planning differ from tactical planning? Give an example.
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  107.Banks cannot research an entrepreneur’s personal credit history when making lending decisions. 108.The Small Business Administration recommends avoiding the use of personal credit cards for business expenses. 109.Equity financing may benefit an entrepreneur who possesses good ideas and skills, but has little or no money. 110.Venture capitalists take an equity stake in businesses.
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MATCHING Complete the following using the terms listed. a.low-context culture b.affective conflict c.performing stage d.cross-functional team e.noise f.team norms g.encoding h.self-managed team i.grapevine j.norming stage k.team diversity l.virtual team m.cognitive conflict n.external communication o.listening p.communication q.team cohesiveness   1._____ refers to the emotional reactions that can occur when disagreements become personal rather than professional. 2.A group of workers who are empowered with the authority to decide how its members complete their.
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  ESSAY 15.Explain the concept of human resource management and the role of human resource planning in an organization’s competitive strategy. 16.Describe the core responsibilities of human resource management. 17.Describe the use of social networking sites as a job recruiting tool for firms and discuss what this means to job seekers. 18.Explain the advantages of.
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  69.Helène, an industrial sales representative, bought a cellular phone to use if she ever had car trouble while traveling between appointments. Which level of Maslow’s need hierarchy is Helène addressing? a.safety b.physiological c.self-actualization d.esteem 70.The desire to be accepted by family members and other individuals is what Maslow called ________ needs. a.physiological b.esteem c.social d.self-actualization 71.According to Maslow, the desire.
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  39.Which of the following is an example of on-the-job training? a.online training programs b.conferences c.classroom lectures d.apprenticeship programs 40.Some companies are replacing classroom training with computer-based and online training programs because these programs offer all of the following advantages EXCEPT ________. a.reduced travel costs b.online training programs are less difficult c.online training offers consistent presentations d.employees can learn at.
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  188.New Target employees learn during training that they are referred to as team members rather than workers, and that customers are called guests. This is an example of preserving corporate culture. 189.Corporate culture often changes to meet new demands in the business environment. 190.The first step in the organizing process is to.
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  88.All of the following require nonprogrammed decisions EXCEPT ________. a.complex problems b.unique problems c.recurring problems d.situations that have not occurred before 89.Luis is CEO of a new company that makes hand-held computers. He is trying to decide between two operating systems for his product. Luis is ________. a.creating a vision b.making a nonprogrammed decision c.developing a mission statement d.making.
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  47.Entrepreneurs possess all of the following traits EXCEPT ________. a.tolerance for ambiguity b.creativity c.low self-confidence d.Vision 48.An overall idea for how to convert a business idea into a success is called ________. a.creativity b.internal locus of control c.Vision d.tolerance for ambiguity 49.All of the following are important characteristics of entrepreneurs EXCEPT: a.tolerance for failure. b.internal locus of control. c.creativity. d.dependence on others. 50.Which of the.
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  138.A team leader at a department in a retail chain store would be classified as supervisory management. 139.Top managers devote most of their time to developing long-range plans for their organizations. 140.Conceptual skills are especially important for supervisors since they develop long-range plans for the future direction of their organizations. 141.Organizing involves the.
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  79.The goal of ________ is to increase employees’ interest in their jobs and allow them to learn more about different jobs in the company. a.enlargement b.management c.rotation d.enrichment 80.David is the head chef in a restaurant and has decided to increase the number of tasks performed by the kitchen staff. The added tasks do not.
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  MULTIPLE CHOICE 38.Management is the process of achieving ________ through people and other resources. a.Profits b.societal objectives c.Status d.organizational objectives 39.Lupe’s job duties include such tasks as deciding whether or not to introduce a new product or enter a new foreign market. Lupe is most likely a member of ________ management. a.Middle b.Top c.supervisory d.Line 40.Which level of management includes job.
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  118.Guadalupe’s firm is divided into work units representing human resources, marketing, production, and finance. This is known as ________ departmentalization. a.product b.geographic c.functional d.Process 119.Hewlett Packard (HP) is subdivided by its different lines (such as laptops, desktops, mobile devices, printers, and servers). HP is departmentalized by ________. a.Process b.function c.product d.customer 120.Leticia is reorganizing the sales force for her wholesale.
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  77.Overseas, workers have yet to discover the benefits of entrepreneurship compared to employment by big firms. 78.Social entrepreneurs recognize a societal problem and use business principles to develop innovative solutions. 79.The desire to work fewer hours is one of the main drives for those who choose to become entrepreneurs. 80.Entrepreneurs enjoy guaranteed job.
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  26.Define operational planning. How is this different from strategic planning? Provide an example. 27.What is a mission statement? What are the qualities of an effective mission statement? Provide an example. 28.Define SWOT analysis and explain its purpose in the strategic planning process. 29.Describe the final step in the strategic planning process. Provide an.
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  MULTIPLE CHOICE 29.The function of attracting, developing, and retaining enough qualified employees to perform the activities necessary to accomplish organizational objectives is part of ________. a.human resource management b.human asset accounting c.management objectives d.management development 30.All of the following are core responsibilities of human resource managers EXCEPT ________. a.employee recruitment b.employee training and performance evaluation c.employee compensation and benefits d.company.
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  68.Nearly a week before Hurricane Katrina reached New Orleans, Home Depot began moving trucks and supplies into position, as specified in the company’s ________ plan. a.Tactical b.strategic c.operational d.contingency 69.Minnesota & Iowa Railway has plans in place to reroute trains in the event that floods or other natural disasters close some of the railroad’s tracks..
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  78.Which of the following is made up primarily of external factors? a.strengths b.Threats c.mission statement d.weaknesses 79.Serguis is a member of his firm’s strategic planning team. He has identified several untapped markets that exist in other countries. His observation should be listed as a(n) ________. a.opportunity b.weakness c.strength d.Threat 80.Guideposts by which managers define the organization’s desired performance are called.
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  98.Autocratic leaders have all of the following characteristics EXCEPT ________. a.concentration of power with the manager b.two-way communication c.decisions are made by the manager with little to no consultation from subordinates d.employees are closely supervised 99.Democratic leaders ________. a.are always the most effective leaders b.let people know only what they need to know to do their jobs c.involve.
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  57.Which of the following is a major consideration in selecting a business idea? a.Make sure no company is currently offering the product/service. b.Select something that appeals to people around the globe. c.Find something you love to do and are good at doing. d.Choose a product/service that is inexpensive to sell. 58.All of the following are.
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  59.Darren decided to change jobs. Before he left the company, he talked to someone in the human resources department about the reasons why he was leaving. Darren went through a(n) ________ interview. a.termination b.exit c.downsizing d.outsourcing 60.Hailey manages the finance department at her company, and she discovers that one of her employees is performing poorly.
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  21.What types of benefits are mandated by law? 22.On what factors do firms based their compensation policies? 23.What is downsizing? How is it different from outsourcing? 24.Explain Maslow’s hierarchy of needs and how an individual is motivated at each level. 25.Explain Victor Vroom’s expectancy theory.     .
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  128.Malita’s company has evolved from a line structure to a line-and-staff structure. The production department would be classified as ________. a.Staff b.Matrix c.decentralized d.Line 129.Which of the following job titles is an example of a staff position? a.Director of Engineering b.Chief Executive Officer c.Production Vice-President d.Director of Marketing 130.A local bookstore uses an organizational structure in which authority and responsibility.
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  129.Employers may obtain valuable information regarding employee satisfaction from exit interviews. 130.Downsizing streamlines the organizational structure. 131.The two most common objectives of downsizing are to improve employee morale and to decrease costs. 132.Downsizing is a method used to weed out employees who exhibit poor performance. 133.Downsizing can have devastating effects on employee morale. 134.Outsourcing is.
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  178.Democratic leaders give their subordinates the authority to make all decisions. 179.Free-rein leaders allow subordinates to make most of the decisions and communicate with employees when situations arise. 180.Free-rein leaders believe in minimal communication since employees are empowered to make all decisions. 181.Jorge believes that close supervision of employees stifles creativity, so he.
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  168.Developing and launching a new version of its iPad is an example of Apple making a programmed decision. 169.The first step in the decision-making process is recognition of a problem or opportunity. 170.A formal decision-making process is practical for all companies and organizations. 171.Great leaders do not share the same qualities. 172.A willingness to.
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  139.John received a companywide award for his idea to improve worker safety. This award will help satisfy John’s social needs. 140.Sven believes in giving his employees challenging assignments so they can realize their own potential. Sven is attempting to satisfy his employee’s self-actualization needs. 141.“Our company wants to increase our profit by.
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  87.There is very little the government can do to encourage entrepreneurship. 88.Many colleges and universities offer programs in entrepreneurship. 89.Students who graduate from entrepreneurship programs are more likely to be self-employed. 90.Most entrepreneurs are skeptical of using social media to promote their businesses. 91.The aging of the U.S. population has made it more difficult.
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  MATCHING   Complete the following using the terms listed. a.corporate culture b.management c.organization d.top management e.departmentalization f.management g.delegation h.matrix i.span of management j.control k.decentralization l.chain of command m.SWOT analysis n.contingency planning o.nonprogrammed decision p.autocratic leaders q.human skills r.mission statement s.competitive differentiation t.empowerment 1._____, or project management, links employees from different parts of the organization to work together on specific projects. 2.A company that emphasizes _____ locates decision at lower levels. 3.A(n) _____ is an organized.
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  119.A potential weakness of 360-degree feedback is its anonymous nature. 120.An effective performance review should be linked to organizational goals. 121.One advantage of 360-degree performance reviews is they require less work for both employees and managers. 122.One of the advantages of performance appraisals is that they can provide employees with the chance to.
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MATCHING   Complete the following using the terms listed. a.job enlargement b.360-degree performance review c.collective bargaining d.Theory Y e.downsizing f.outsourcing g.flexible work plans h.grievance i.401(k) plans j.human resource management k.performance appraisals l.employee separation m.lockout n.arbitration 1.Using outside specialists to perform functions previously performed by company employees is called _____. 2._____ allow employees to adjust their working hours and places of work to accommodate their personal needs. 3._____ managers assume.
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  108.In an organization with a strong culture, ________. a.the management is usually autocratic b.everyone knows and supports the same objectives c.the use of rituals is nonexistent d.employees are encouraged to think and act independently 109.Which of the following statements is correct regarding corporate culture? a.The leadership style of managers, the way it communicates, and the overall.
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  158.Mission statements are generally no longer than one or two sentences. 159.SWOT is an acronym for strategies, weaknesses, opportunities, and teamwork. 160.A SWOT analysis is set in stone and serves as a constant reminder of a company’s strengths and continuing threats. 161.“Lack of financial stability” would be identified in a company’s SWOT analysis.
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