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60 terms

Mgm Exam # 3

STUDY
PLAY
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