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MGMT 110

Terms in this set (52)

Business scholar Archie Carroll suggested that the first and primary responsibility of an organization in the global economy is to ___.
To make a profit consistent with expectations for international business
In Dr. De Bono's Six thinking hats, who wears the blue hat
The person serving as the control function
North West Jacket Company has a policy that each employee volunteer at the local elementary school reading or helping with math for 2 hours a month. They also donate coats for all children who need them in the winter and give a financial contribution to the school. North West is demonstrating its social responsibility through
1/1/1 Charitable giving
Vicky keeps a close eye on her company's internal and external environment to discover possible opportunities for new products and to discern possible threats from the competition. In which activity is Vicky engaged?
SWOT analysis
What is a mission statement?
a statement of the organization's purpose - what it wants to accomplish in the larger environment
Little Rascals Child Care Center has decided to change its hours from 6am to 6pm to 7am to 5pm beginning at the start of the next month. The owner, Wanda, feels that the change is needed because only a few families were coming in before 7am, and, therefore, it was not cost-effective to be open that early. In making her decision, was Wanda being sensitive to the families who brought their children to the center?
No, she did not consider how the people affected may feel about the change
Today, companies emphasize________ with production
efficiency
Consider the following situation: Local livestock farmers could allow the runoff of manure nutrients into a stream that feeds a local lake because polluting the stream helps farmers in the short term. However, farmers will act ethically in the short run to avoid harming others in the long run because doing so is also in the farmer's best long-term interests. This type of thinking reflects the _____ approach to deciding ethical dilemmas.
Individual
The multiplier effect states that a manager's influence on the organization
Has implications far beyond the results that can be achieved by one person acting alone
Doreen, a project manager, has been given a limited amount of money to run the new marketing campaign. She was also told that the client wants the campaign ready to roll out in less than two weeks. Doreen is feeling very limited by these constraints and is not sure that it will produce her team's best work. Her supervisor and career mentor, tells Doreen that she is
affected by bounded rationality
_________ is another term for a defensive strategy
A retrenchment strategy
In 2015, approximately what percentage of the U.S. population was foreign-born?
13 percent
At the strategic level of planning, managers must pay attention to the environment outside the organization, be future oriented, and
deal with uncertain and competitive conditions
_______ are goals set by and for first-line managers and are concerned with short-term matters associated with realizing tactical goals.
operational goals
_______ are goals set by and for first-line managers and are concerned with short-term matters associated with realizing tactical goals.
governing a company so that the interests of corporate owners and other stakeholders are protected
Career readiness represents the extent to which you possess the ________ desired by employers.
knowledge, skills and attributes
In a staff meeting, Mark is employing Dr. De Bono's Six Thinking Hats. Doug expresses all the positives about being open on Thanksgiving. Rashmi presents the data from the last three years on sales from that day. Rafael explains why staying open late on Thanksgiving will not be in the employees or client's best interests. Sophie explores using the Internet only and not having the brick and mortar stores open. Which color hat would Rafael wear?
black
The top management of Fresh, a food distribution company, has set strategic goals of increasing organizational market share and also decreasing corporate costs over the next three years. Charles, a division manager for Fresh, has looked at his resources, and he has decided how his division can contribute to the two strategic goals set by upper management: (1) by partnering with another company and (2) by hiring a procurement manager to negotiate lower prices from vendors. Charles' next step is to roll out his ____ to his staff.
tactical goals
During a management meeting, Lester, the CEO of Elite Office Equipment, reminded his management team of where the company wants to go as an organization: "Elite Office Equipment is the expert that customers should always call regarding all their office equipment needs because we strive to understand customer needs and provide the right answers for them." This statement is Top Office Equipment's
vision statement
In February, Pedro, the manager of a pool supply and cleaning company, is looking at the upcoming need for more workers to handle the increased customers in spring and summer. Which of the four key management processes is he using?
organizing
Spotlight Movies has conducted market research about to where to open their next theater. They want to stay-focused on their mission to only open in markets with less than 200,000 people. Their strategy is
broad needs, many customers
The three types of MBO objectives are
performance, behavioral, and learning
The Parvizians own several oriental rug stores in and around the Washington, DC, metropolitan area. It is expected that as each of the brothers have children they will grow up and take part in the business too. The members of the family are considered
private investors
Bob, the owner of Orthopedic Supply, just discovered that his trusted friend Ruth, his accountant for over 30 years, has been mishandling the company books and stealing from the company bank account. Bob must decide whether to ignore his friend's actions and avoid bad publicity for Orthopedic Supply, or to have Ruth arrested for embezzlement. Bob is facing
an ethical dilemma
As a manager, you meet with each of your team members quarterly to review their progress toward their written and agreed-upon goals. One of your employees, Julie, had a goal of increasing sales in her territory by 10 percent in the first quarter of the year. However, when you review Julie's sales numbers, you see that her sales have actually gone down. You know Julie is a hard worker and has an excellent relationship with her customers. When you sit down to discuss her performance, she explains what is happening in her territory. A major automobile manufacturer, which once provided 25,000 jobs, has moved its operations to Mexico and laid off all 25,000 of its workers. As a result, the economy in Julie's region has become quite depressed, and the residents are living off their savings. Taking the steps of the planning/control cycle into account, what is your best course of action with Julie?
Recognize the economic reality of her territory and change her goals to make them ambitious but realistic.
Penelope, a registered nurse, has decided to start a home healthcare service to assist with the medical, meal preparation, and light housecleaning needs of older adults. To grow her business, Penelope is focusing her marketing efforts on the older adult population; in these efforts, she is involved with the _____ environment.
general
Four Seasons Lawn and Landscaping provides customers with quality and value, treats others as they want to be treated, and practices open communications with all stakeholders. These are part of their
values statement
Blake has managed several restaurants for over 50 years and is close to retirement. With his maturity and business experience, his decisions are sound, based on solid, proven values. Blake tends to be an independent thinker who focuses on empowering his employees. Blake manages at Kohlberg's ______ level of personal moral development.
postconventional
A SWOT analysis is a(n)
search for the strengths, weaknesses, opportunities, and threats affecting an organization
Mark Zuckerberg stated that Facebook's early idea was to "Move fast and break things." He set that as his strategy for the company. Was he using the concept of strategy correctly?
No, because a strategy sets a long-term goal and direction for an organization
Republican advertisements about Representative Adam Johnson, the Democratic candidate, portray him as lazy, dishonest, and poor at his job. At the same time, the Democratic ads for Adam Johnson describe him as a caring, honest, hard worker. The sponsors of these advertisements know that ads can affect whom voters choose on Election Day. The tendency of decision makers (the voters in this example) to be influenced by how a situation or problem is presented to them is an example of
farming bias
Henry, Bekah, and Marcella are on the five-member Benefits Task Force that is researching options for the new benefits package. Over lunch, Henry suggests that going with the Members' Choice HMO is the best course of action, and Bekah and Marcella agree with Henry for the sake of unanimity, without ever researching and accurately assessing the decision. Henry, Bekah, and Marcella are engaged in
groupthink
Katelyn, a millennial, is conducting her job search. She wants to work for a company that cares not only about its people, but about the planet too. In reviewing different company portfolios, where in the company would you guide her to be successful with her research?
its social audit documents
An organization's _______ expresses the need the firm will fill, the operations of the business, its components and functions, and the expected revenues and expenses.
business model
Joelle wants to broaden her functional knowledge. Which of the following activities should she engage in?
attending a business conference
When confronted with a decision on an action, managers should utilize ________, which includes these four questions: "Is the proposed action legal? If yes, does the proposed action maximize shareholder value? If yes, is the proposed action ethical? If no, would it be ethical to take the proposed action?"
Bagley's ethical decision tree
Josiah was unhappy with how his boss was promoting individuals on his team. He felt like was being overlooked because of his race and the fact that he had reported an incident to management a year before. Instead of speaking to his boss and human resources about his hunch, he posted about it on Facebook. When confronted, he claimed he was protected as a(n) _____, even though he posted on Facebook.
whistle-blower
How would you describe Amazon's commitment to continuous evolution?
It is their strategy or strategic plan
This month, Susan, the branch manager of Intrepid Car Rentals, has heard several complaints from customers that Intrepid employees do not return calls. Today a good customer told Susan that "my phone calls and e-mails are returned after maybe a week or so." Hearing enough, Susan mandated that "all customer phone calls and e-mails must be returned within 24 hours." This new directive by Alice is an example of a(n)
policy
In the BCG matrix, _______ are organizations that have slow growth but high market share, with income that often finances stars and question marks.
cash cows
How does the text suggest prioritizing your decisions?
organize your decisions into three categories
At times, customers have an unexpected need and require certain departments, such as production, to change their schedule to meet the demands of the sales department. When Shannon, the vice president of marketing, inspires the production team to put in the extra effort, she is playing a(n) ________ role.
leadership
At the end of the company retreat, Dashaun had a blueprint for how to move forward for the year. His primary objective had been met. What do you think his primary objective was?
To have an outline of how the goals were going to be met
Davidson Production is keenly aware of the need to strive daily to produce goods and services more effectively than its competitors. Therefore, Davidson's management strives to ________ in order to achieve this standard.
maintain quality and efficiency
Research shows that ________ is a key trait of successful people.
resilience
On an organization's board of directors, inside directors
may be members of the firm and outside directors are supposed to be elected from outside the firm.
Porter's competitive strategies of cost leadership and differentiation focus on ____ markets, while the cost-focus and focused-differentiation strategies focus on ____ markets.
wide; narrow
What type of planning is completed by middle managers?
Tactical planning
Readily available information may not present a complete picture of a situation due to
availability bias
Armando, CEO of a successful medical supply company, is constantly reading press releases, ads, and news articles about his competition. He regularly checks information about new competitive products and visits trade shows to study his competition. Armando is involved in
evaluating opportunities
Josiah was unhappy with how his boss was promoting individuals on his team. He felt like was being overlooked because of his race and the fact that he had reported an incident to management a year before. Instead of speaking to his boss and human resources about his hunch, he posted about it on Facebook. When confronted, he claimed he was protected as a(n) _____, even though he posted on Facebook.
...
Josiah was unhappy with how his boss was promoting individuals on his team. He felt like was being overlooked because of his race and the fact that he had reported an incident to management a year before. Instead of speaking to his boss and human resources about his hunch, he posted about it on Facebook. When confronted, he claimed he was protected as a(n) _____, even though he posted on Facebook.
...
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