Managment Ohio University

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Exam 2 : chapters 6-10 Professor: Marcus Fila

A ______ represents an "educated guess" about what must be done in the long term for survival or the prosperity of the organization or its principal parts.

Strategy

Effective strategic management involves ?

Managers all parts of the organization.

What about strategic planning and strategic management is true?

Both should be implemented because they can provide direction and momentum.

Not an area a company needs to get/stay ahead in order to sustain a competitive advantage?

Talented Employees

What about strategy and strategic positioning is false?

Few customers with narrow needs can be a source of strategic position.

A small firm is likely to benefit significantly from strategic planning....

a very competitive industry

Milo owns and manages a small bike repair store. In order to determine if strategic planning will be likely to help his business, Milo should primarily assess

how many competitors he has.

Which steps of the strategic-management process is the source of its feedback loop

Maintain strategic control

What should be included in a good vision statement

Firm's standards of excellence and high ideals.

The common grand strategies are

growth, stability, and defensive.

High Peaks Skate and Snowboard is a small shop that provides equipment for Utah snowboarders in winter months. It has decided to increase advertising during this period in the Salt Lake Tribune and the Park Record in Park City, as well as to sponsor a new on-mountain competition. It is following which strategy?

Growth

A grand strategy that involves reduction in the organization's efforts is the ______ strategy

retrenchment

Recently ConocoPhillips, America's third-biggest oil company, spun off its refineries, pipelines, and chemicals division to form a new company called Phillips 66. Now ConocoPhillips will concentrate on its upstream operations. This is a variation of which of these grand strategies?

Defense

After film manufacturer Kodak failed to reinvent itself and declared bankruptcy in 2012, it decided to focus on its business of making inkjet printers as part of a ______ strategy

defense

Actively selling strategic plans to middle and supervisory managers, rather than just announcing them, is helpful for

Strategy implemetation

What is not one of Bryan Barry's recommendations to keep a strategic plan on track?

Avoid compromise

What is not a likely source of information for competitive intelligence

Competitor's customer records

Careful monitoring of an organization's internal and external environment to detect early signs of opportunities and threats that may influence the firm's plans is called

enviromental scanning

When analyzing the "S" in a SWOT analysis, a manager might take note of

strong financial resources of the firm.

When analyzing the "O" in SWOT analysis, a manager might take note of

favorable government regulations.

Analysis of changing demographics of the U.S. population would be part of the assessment of a company's

opportunities or threats depending on the outcome of the analysis.

Amanda has just determined that her employees will require extensive training if they are to acquire the necessary technological expertise to produce a new product line. She has discovered one of her firm's

weaknesses

Environmental factors that the organization may exploit for a competitive advantage are known as

organizational opportunities

A vision or projection of the future is called a(n)

forcast

Creation of alternative hypothetical but equally likely future conditions is called

contengecy Planning

Oil companies must be aware of other firms' development of ethanol products since this is an example of which one force in Porter's model for industry analysis?

Threats of substitute products and services

An organization is developing a low-cost line of environmentally friendly cleaning products that it intends to distribute internationally. Here, the organization is following a ______ strategy.

cost leadership

A firm that pursues a differentiation strategy is

Bic

An org. that keeps costs/prices low in targeting a narrow market is pursuing a strategy of

cost focus

What carmakers pursues a focused-differentiation strategy?

Ferrari

Time Warner runs different divisions specializing in television, music, and publishing. Time Warner is using a(n) ______ strategy.

diversification

__________ refers to the idea that the economic value of separate, related businesses under one ownership and management is greater together than the businesses are worth separately.

Synergy

Daniel is assessing his company's portfolio of products. One of them is the best-selling brand of mayonnaise, although this is now a slow-growing market. If Daniel uses the BCG matrix, he would classify this product as a ....

cash cow

Top concern among CEOs worldwide is

excellence in execution

According to Bossidy and Charan, which business process is most important for effective execution

People

What is not a behavior of a leader who executes?

Respect others' limitations.

What is a step in the rational decision-making model?

Identify the problem or opportunity

Diagnosis is used in which stage of the rational decision-making model?

Identify the problem or opportunity

In decision making, answering yes to what questions should cause you to reconsider choosing it?

Do you consider it merely "good enough"?

What is NOT a recommended option when you "discover that an action" is not working after a decision

Abandon the solution in favor of the status quo

What's one of the nonrational models of decision making

Satisficing

Nicole and other managers in her firm have some ties to Europe and are investigating opportunities for global expansion. They are struggling to understand the risks, given the complexity of world markets today and recent global instabilities. The difficulty Nicole's team is facing prevents perfectly rational decision making, and is an example of

bounded rationality

What's NOT a hindrance to perfectly rational decision making

Lack of intuition

Jerome's accounts payable department is behind schedule as the month-end close is approaching. This has been happening every month, but he hasn't found time to provide additional training. Instead he asks all of his employees to work eight hours of overtime that week and reassigns some tasks. This is an example of using the ________ model.

incremental

Making a choice without the use of "conscious thought" or logical interference is called

intuition

What's NOT a reason why it is "hard to bring the best evidence" to bear on your decisions?

The evidence leads to an unethical solution.

What's a characteristic of companies that use analytics

Use of predictive modeling

Amanda was asked by her boss to create a handbook for new hires because several employees had recently complained, saying they felt lost when they first started because procedures didn't seem to be formalized. Amanda herself had not felt that way, perhaps because she has a

high tolerance for ambiguity.

A decision-making style based on the dimensions of "value orientation" and tolerance for ambiguity?

behavioral

A person with a conceptual decision-making style is __________ in her value orientation and __________ in her tolerance for ambiguity.

people/social; high

A person who is oriented "toward task" and technical concerns and has a low tolerance for ambiguity is ______ in his decision-making style.

directive

Charlie has a reputation for being slow to reach a final decision but being able to decide a reasoned course of action regardless of the uncertainty. He is very thorough in collecting information and evaluating more alternatives than other managers are. Charlie is most likely ______ in his decision-making style.

analytical

Savannah is a warm and likeable manager who is extremely supportive of her employees, but she sometimes doesn't say no when she needs to and is somewhat passive in enforcing her decisions. Her decision-making style is most likely

behavioral.

A graph of decisions and their possible consequences is known as a(n)

decision tree

What questions about a proposed action is NOT a key question in Bagley's ethical decision tree?

Should the effect of it be disclosed to shareholders

When a manager decides to "take no action" in the belief that there will be no great negative consequences, she is engaged in

relaxed avoidance

Which response to a challenge would be considered most like satisficing?

Relaxed change

"Passing the buck" or procrastinating about a decision are examples of which type of reaction to a challenge?

Defensive avoidance

Robin is very worried about potentially having to lay off several of her staff. She can't sleep well, her stomach is bothering her, and she snaps at her employees. She doesn't know what to do but won't talk with anyone about it. Robin is experiencing a ______ reaction to a challenge.

panic

Casey has a simple rule that he follows when it comes to new hiring; if four or more of his staff are working 20% or more overtime, he hires another employee. Casey is using

heuristics

As Janine prepares to perform Ian's performance review, she carefully reviews notes she made throughout the year, rather than relying just on what she remembers. Janine is attempting to avoid the ______ bias.

availability

Angelina is interviewing for an open position since she recently let go an employee for excessive absenteeism. Though she thinks that Ivy is the best candidate for the job, she has small children, which seemed to be the source of the last employee's absenteeism. Angelina is reluctant to hire Ivy, which is a(n) ______ bias.

representativeness

Managers at Thomas Canyon Credit Union have given employees raises year after year based on what they had given the year before, even though now their employees were quite underpaid compared to similar positions with other credit unions. This is an example of a(n)

anchoring and adjustment bias

The tendency for decision-makers to be" influenced by the way a problem is presented" to them is known as the ________ bias.

framing

The idea that decision makers find the "notion of an actual loss more painfu"l than giving up the possibility of a gain is called

the prospect theory

A disadvantage of group decision making

Satisficing

The tendency of a group to settle on a decision that is "good enough" is called

Satisficing

The ______ a group is, the ______ the quality of the decision

larger;lower

Anders has "assembled a task force "that is composed of people who don't know each other well. He should expect this group to make better decisions if

the members have common knowledge

A practical guideline in determining whether to use group decision making?

When it can increase development

Research on the effects of participative management (PM) on employees' performance and satisfaction indicates that

has a small positive effect on both

NOT a rule for brainstorming suggested by IDEO

Go for quality over quantity

Cara was enthusiastic about the new decision technique being used at her office. Everyone gathered in a room with their computers and typed responses anonymously. These appeared on the screen in the front of the room. Cara felt comfortable participating fully even though she was new to the company, and by the great number of comments, it seemed that everyone else did, too. Cara participated in

a group-driven computer-aided system

According to productivity expert Odette Pollar, which should a manager delegate?

Tasks that challenge subordinates.

Not a description of organizational culture?

A system of "reporting relationships"

Type of culture that has an "internal focus" and values stability and control over flexibility?

Hierarchy

Turnbull Software is a medium-sized but growing company that works diligently to create a supportive and familylike atmosphere for its employees. It provides superior benefits and involves employees in decisions large and small. Turnbull has a(n) ______ culture.

clan

Hard-working people at insurance giant AIG joked that "thank heavens it's Friday because that means there are only two more working days until Monday." This is characteristic of which layer of organizational culture?

basic assumptions

______ values are the explicitly stated values and norms preferred by an organization.

Espoused

Not a device through which culture is typically transmitted to employees?

strategic plan

Southwest Airlines employees all know about when CEO Herb Kelleher visited one of the airline's hangars in the middle of the night in a dress with a purple boa—just to liven things up. In fact, this is part of Southwest's history. This is an example of using a ________ to impart organizational culture

story

The activities and ceremonies, planned and unplanned, that celebrate important occasions and accomplishments in the organization's life are known as

rites and rituals

Among the organizational cultures thought to enhance business performance, the ______ perspective assumes that the strength of a corporate culture is related to a firm's long-term financial performance.

strength

The "HP Way" at Hewlett-Packard fostered a culture of integrity, teamwork, and innovation that complemented the high-technology industry of the time. This is an example of which perspective?

fit perspective

What cultural perspectives leads to the "highest long-term' financial performance?

adaptive perspective

What is not one of the mechanisms used to "embed culture" into an organization?

Accounting practices.

A system of consciously coordinated activities/forces of two or more people is known as a

organization

Goodwill Industries, a charity that provides training and employment services to the disabled, is which type of organization?

nonprofit

Example of a mutual-benefit organization

United Steelworkers of America union

What's good advice for those transitioning upward in an organization?

Maintain good relationships with other departments.

An organization's ______ is a "control mechanism" for making sure the right people do the right things at the right time.

hierarchy of authority

A supervisor of an assembly line has 45 employees that report to her; this would be considered a(n) ______ span of control.

wide

__________ means that managers must report and justify work results to managers above them.

accoutability

Good job design requires matching the level of responsibility to the level of

authority

Jennifer's staff enjoys working for her but thinks she is a perfectionist. She often thinks that she is the only one who can handle her division's difficult clients or handle some of the most sensitive issues, so she frequently has problems with

delegation

At Caldwell Organic Grocers, all purchasing, hiring, and production decisions are made by top management. Caldwell has ______ authority

centralized

Organizational ________ is concerned with devising the optimal structures of accountability and responsibility that an organization uses to execute its strategies.

design

In a functional structure, people with ______ are grouped together

similar occupational specialties

_______ group activities around similar products or services.

Product divisions

Durant Security operates across Florida and Georgia with a variety of products and services. It has a unit located in Tampa that provides home security to its clients, and another unit in Atlanta that provides security for businesses, in particular banks and high-technology firms. This is a ______ structure.

customer division

Arnos Engineering has a functional structure throughout the company but also has a second chain of command based on the part of the United States where one works. This organization has a ______ structure.

matrix

Hollow, modular, and virtual structures lead to a ________ organization

boundaryless

In a ______ structure, a firm assembles portions of product provided by outside contractors.

modular

Rashid has examined the environment in which his organization operates and has determined that currently the market demands an organic and integrated structure. Rashid did this as part of his

contingency design

Rorschach Composites has precise requirements and very detailed procedures for creating small machine parts through an injection molding process. Because of the sensitive processes, employees are tightly monitored. Rorschach is a(n) ______ organization.

mechanistic

Information-technology companies such as Motorola favor a(n) ______ structure because they constantly have to adjust to technological change.

organic

According to Lawrence and Lorsch, the ______ determine(s) the degree of differentiation or integration that is appropriate.

stability of an organization's environment

Fonseca Construction Supply has product divisions for lumber, hardware, electrical supplies, and plumbing supplies. Each has its own production facility and sales staff. Fonseca is

highly differentiated.

At Harvestar Farm Equipment, specialists from marketing, manufacturing, and engineering departments work closely together in cross-functional teams on new professional planting and harvesting equipment designs. Harvestar is an example of a ______ organization.

highly integrated

As an organization goes through the stages of the life cycle, it becomes more

bureaucratic

Katsuro started a tax consulting business with his friend Carey. They have a small space in a strip mall and one administrative assistant. At which stage of the organizational life cycle is their business?

birth stage

At which stage of the organizational life cycles does lack of flexibility and innovation become the danger to the business?

Maturity Stage

What's not a recommended way to stand out in a new job

underpromise

The strategic human resource management process includes which of these

Orient, train, and develop.

The economic or productive potential of employee knowledge and actions is called

human capital

The purpose of the strategic human resource process is to

get optimal work performance to help realize company's mission and vision.

Susan had been working as an executive assistant to the president for nearly 20 years, so when she retired no one had a good idea of all that her job entailed. Before she left, Ben sat with her for two weeks to observe her duties and ask her the details of all functions. Ben was performing a

job analysis

In considering the staffing an organization might need in the future, human resource managers should

understand the organization's vision and strategy and hire to support them.

Gwen, an HR manager, was using reports from the U.S. Bureau of Labor Statistics and the U.S. Census Bureau for information about her industry's labor pool in her geographic area. Gwen is planning to

recruit from outside the organization.

After being referred by a friend, Hasina attended a job interview. She didn't feel it went well but was surprised when her friend told her the boss didn't like that she had worn her hijab, a traditional headscarf. The boss told a coworker after the interview, "Our customers prefer working with Christians." This is an example of

discrimination

If a firm gives all international assignments to people without disabilities, assuming they will therefore not require special accommodations, which type of workplace discrimination has occurred

Disparate treatment

What statements about sexual harassment is true

A person who feels he or she must acquiesce to a sexual proposition in order to keep his or her job is facing a quid pro quo

The process of locating and attracting qualified applicants for jobs open in the organization is called

recruiting

What external recruiting methods works best

Employee referrals

When Jake became one of three final candidates for a managerial position with a large medical supply company, the director of the department scheduled a special meeting with him. There, the two talked about the stressful deadlines and heavy travel required of the position, as well as the great compensation and multiple perks. Jake appreciated that the director took time to conduct a(n)

realistic job preview.

The type of interview that is most likely to cause managers problems because of its potential for bias and questionable legality is the

unstructured interview.

What's a good suggestion for managers when conducting interviews?

After the interview write a short report with a quantitative score of the candidate's qualifications.

The Myers-Briggs Type Indicator is considered a(n) ______ test

personality

The degree to which a test measures the same thing consistently is known as its

reliability

Emilio, an HR manager, had a meeting with the director of operations to determine if the new training program appears to be effective in improving productivity on the shop floor. Tracy is performing which step of the training process?

evaluation

Keri, an HR manager, is designing a training class for those working on the new cross-functional teams within her company. This class that is aimed at improving group decision making. What method of delivery should she choose?

Role-play

What is a form of off-the-job training

Classroom instruction

MBO is consistent with a(n) ______ performance appraisal

objective

The type of appraisal that is most subject to validity problems due to evaluator bias is the ______ appraisal

trait

The type of performance appraisal that judges specific, observable aspects of performance like being on time for work is a(n) ______ appraisal

behavioral

A feedback technique in which an employee is appraised by her boss, peers, subordinates, and possibly clients is called a(n)

360-degree appraisal

A performance review system in which all employees within a business unit are ranked against one another is known as a

forced ranking

The point of the performance appraisal is to

stimulate better job performance

What's the best statement of feedback?

"Your last report contained seven errors which I think you could improve."

An example of an employee benefit?

Education reimbursements

What's not a characteristic of a successful incentive pay plan?

Complex and comprehensive rules

In considering a promotion for a subordinate, a manager must ensure fairness and

nondiscrimination

If employees have been dismissed "for cause," this means that

they are being fired for their job performance.

______ means that anyone can be "dismissed at any time" for any reason at all, or for no reason.

Employment at will

_______ are organizations of employees formed "to protect" and advance their members' interests by bargaining with management over job-related issues.

labor unions

Bethany had a starring role in a film that was shot in her hometown of Baton Rouge, Louisiana. Though the Screen Actors Guild, an actors' union, exists in Louisiana, Bethany was not required to join it because of the state's ________ law.

right-to-work

In 2009, the United Auto Workers union negotiated with Ford Motor Company a variety of ________, such as a $1/hour pay decrease and changes to overtime structure, designed to prevent Ford from declaring bankruptcy.

givebacks

According to Jim Collins, undisciplined pursuit of more and grasping for salvation are stages of organizational

decline

A change that is made in response to arising problems or opportunities is called

reactive change

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