Mgm Exam # 3

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Among the ways information technology is changing organizations today, __________ is one of its most noteworthy characteristics

breaking down barriers internally and externally

Information technology assists with the management function of organizing because it _________

allows for better coordination among individuals and groups

A manager who is reactive and works hard to address problems after they occur is known as a _________

problem solver

A ___________ thinker approaches problems in a rational and an analytic fashion

systematic

The assigning of probabilities for action alternatives and their consequences indicates the presence of ________ in the decision environment

risk

The first step in the decision-making process is to ______

find and define the problem

Being asked to develop a plan to increase international sales of a product is an example of the types of ________ problems that managers must be prepared to deal with

unstructured

Costs, timeliness, and _______ are among the recommended criteria for evaluating alternative courses of action

ethical soundness

A common mistake made by managers facing crisis situations is that they ___________

isolate themselves to make the decision alone

The ________ decision model views managers as making optimizing decisions, whereas the ________ decision model views them as making satisficing decisions

classical, behavioral

When a manager makes a decision about someone's annual pay rise only after looking at his or her current salary, the risk that the decision will be biased because of _______

anchoring and adjustment

When a problem is addressed according to the positive or negative context in which it is presented, this is an example of _________

framing error

Among the environments for managerial decision making, certainty is the most favorable, and it can be addressed through _______ decisions

programmed

When a manager decides to continue pursuing a course of action that facts otherwise indicate is failing to deliver desired results, this is called _______

escalating commitment

Personal creativity drivers include creativity skills, task expertise, and _________

task motivation

Planning is the process of _________ and ________

setting objectives, deciding how to accomplish them

The benefits of planning include _________

improved focus

In order to implement its strategy, a business firm would likely develop a _________ plan for the marketing department

functional

_________ planning identifies alternative courses of action that can be taken if and when certain situations arise

Contingency

The first step in the control process is to ______

establish objectives and standards

A sexual harassment policy is an example of ________ plans used by organizations

standing-use

When a manager is asked to justify a new budget proposal on the basis of projected activities rather than past practices, this is an example of ________ budgeting

zero-based

One of the benefits of participatory planning is ________

more commitment to implementation

In a hierarchy of objectives, the ideal situation is that plans set at lower levels become the _______ for accomplishing higher-level plans

means

When managers use the benchmarking approach to planning, they ________

identify best practices used by others

One of the problems in relying too much on staff planners is _________

a communication gap between planners and implementers

The planning process isn't complete until ________

plans are implemented and results evaluated

Who should set an individual's performance objectives

the job holder and the supervisor

A good performance objective is written in such a way that it ________

can be easily measured

Which type of plan most directly links resource allocations with long-term advancement of the organizations mission of purpose

strategic

The most appropriate first question to ask in strategic planning is _______

Where do we want to be in the future

The ability of a firm to consistently outperform its rivals it called _________

competitive advantage

In a complex conglomerate business such as General Electric, a ________ level strategy sets strategic direction for a strategic business unit

business

An organization that is downsizing to reduce costs is implementing a grand strategy of _______

stability

The _________ is a predominant value system for an organization as a whole

core competency

A ________ in the BCG matrix would have a high market share in a low-growth market

question mark

In Porter's five forces framework, having ______ increases industry attractiveness

many rivals

When PepsiCo acquired Tropicana, a maker of orange juice, the firm's strategy was growth by __________

cooperation

Cost efficiency and product quality are two examples of _________ objectives of organizations

operating

Restructuring by Chapter 11 bankruptcy is a ______ strategy

turnaround

Among the global strategies that might be pursed by international businesses, the _______ strategy is the most targeted on local needs, local management, and local products

multidomestic

According to Porter's model of competitive strategies, a firm that wants to compete with its rivals in a broad market by selling a low-priced product would need to successfully implement a _______ strategy

cost leadership

When Coke and Pepsi spend millions on ads trying to convince customers that their products are unique, they are pursing a ________ strategy

differentiation

The role of the board of directors as an oversight body that holds top executives accountable for the success of business strategies is called ________

corporate governance

An example of a process failure in a strategic planning is _______

lack of participation

Productivity in a typical organization is computed using the formula Productivity= ________/Input

Output

If you conducted a value chain analysis of a business, you would study _______

the flow of activities that transform resources into goods and services

New computer technologies have made possible _______ that quickly and efficiently produces individualized products for customers

mass customization

In remanufacturing the focus is on _____

breaking down used products and using the parts to make new ones

Wal-Mart's suppliers electronically access inventory data and sales forecasts in the stores and automatically ship replacement products. This is an example of IT utilization in _______

supply chain management

An economic order quantity approach to inventory control _________

reorders inventory automatically when a certain point is reached

In a break-down analysis, the break-even point occurs when _________

revenues= total costs

Benchmarking, continuous improvement, and reduced cycle times are examples of organizational practices that show a commitment to ______

total quality management

A quality standard that has become essential for world-class companies competing in global markets is _____

ISO certification

________ is an example of a statistical quality control technique

Six Sigma

A work process is defined as a related group of tasks that together create value for ________

customers

The first step in process value analysis is to _______

identify core processes

In addition to operating efficiency, competitive advantage is often pursued through operations management initiatives that __________

provide for customer service improvements

A major difference between operations management in manufacturing and in services is that _______

service organizations often use different technologies than do manufacturing organizations

The techniques of operations management are closely aligned with the concept of the organization as an _________

open system

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