DEVRY MGMT303 MID-TERM EXAM

Question 1.1.Which of the following is an example of an organization?

(Points : 4)

The Department of Commerce

Apple Inc.

The American Red Cross

All of the above

Question 2.2. In the National Football League, the promotional ads are a(n) _____ resource. (Points : 4)

International

Physical

Informational

human

Question 3.3. Which of the following correctly lists all of the basic management functions? (Points : 4)

Planning and decision making, organizing, leading, and controlling

Planning, decision making, organizing, and controlling

Planning and decision making, leading, and organizing

Decision making, controlling, leading, and coordinating

Question 4.4. The Ford Motor Company sold an auto parts company because profitability was low. The main environmental dimension considered was (Points : 4)

Sociocultural.

Technological.

Economic.

Political/legal

Question 5.5.The degree to which an organization is impacted by or involved in businesses in other countries refers to its (Points : 4)

Political/legal dimension.

International environment.

Economic dimension.

Sociocultural dimension.

Question 6.6.Which of the following is the MOST common approach to the management of ethics? (Points : 4)

Top management support

An unwritten code of ethics

A written code of ethics and top management support

Government regulation

Question 7.7. Identify the statement below that is NOT one of the arguments offered in favor of social responsibility. (Points : 4)

A business should fix the problems it creates.

Corporations have many of the same obligations and privileges as private citizens.

A business is a partner in society with the government and the general population.

Business executives are uniquely qualified to make decisions such as these.

Question 8.8. Which of the following is usually has the least amount of risk as an international business? (Points : 4)

Licensing strategy

Joint venture

Importing/exporting strategy

Direct investment

Question 9.9._____ is the form of international business agreement in which two or more firms have an equity stake in an operation. (Points : 4)

International brokering

Direct investment

A strategic alliance

A joint venture

Question 10.10. With whom is the United States involved in a mature market system? (Points : 4)

The Latin American Integration Association

The Caribbean Common Market

Canada and Mexico

Pacific Asia

Question 11.11. You have decided to become a small business owner. On your business plan, you state that you will be offering high-quality products with the best customer service. What does this statement in your business plan represent? (Points : 4)

An operational plan

A mission statement

A strategic plan

A tactical plan

Question 12.12. If Delta Airlines decides to buy a regional carrier, this would be an example of a(n) _____ plan. (Points : 4)

Operational

Strategic

Tactical

Contingency

Question 13.13.  When dealing with the strategic planning for an organization, the _____ is the single most important individual in the planning process. (Points : 4)

Chief executive officer

Chief legal counsel

Head of planning task force

Chief financial officer

Question 14.14. Identify the statement that is TRUE when comparing large and small businesses. (Points : 4)

Big businesses outnumber small businesses by a wide margin

Small businesses show consistently lower financial performance than big businesses

Business success creates jobs regardless of size.

Small business formations are on the decline, but the rate for big businesses is increasing.

Question 15.15. Due to cost and other factors, for which of the following industries are you LEAST likely to find a small business owner? (Points : 4)

Transportation

Service

Retailing

Manufacturing 

Question 16.16. Which is the most popular source of funds for a small business? (Points : 4)

Bank loans

Personal financial resources

Money from venture capitalists

Issuing stock in the business

Question 17.17.Which of the following is not a characteristic of the new economy? (Points : 4)

Job opportunities are for knowledge workers.

Business accepts its social responsibilities.

National borders limit competition.

Customer needs drive business.

Question 18.18. Plans that apply to the entire organization, establish the organization’s overall objectives, are called _____ plans. (Points : 4)

Operational

Tactical

Strategic

Specific 

Question 19.19. As more employees telecommute (do their work from home), managerial emphasis will be on the: (Points : 4)

Control of working hours.

Means by which work is accomplished

Sources of managerial power

Final output

Question 20.20.When uncertainty is high and management must maintain flexibility, which of the following types of plans are preferable? (Points : 4)

Long-term plans

No plans

Directional plans

Specific plans

Question 21.21. The greater the uncertainty, the more plans should be of the _____ variety. (Points : 4)

Long-term

Short-term

Intermediate in length

Rigid

Question 22.22. Business ethics deals primarily with (Points: 4)

Social responsibility

The pricing of products and services

Moral obligation

Being unfair to the competition

Question 23.23. The statement that answers the question, “what business are we in,” is best described by which of the following? (Points : 4)

Strategic plan

Mission

Strategic purpose

Tactical objective

Question 24.24. A company that is assessing its large capital, skilled workers, and many patents is analyzing which of the following? (Points : 4)

Strength

Weakness

Opportunity

Threat

Question 25.25. When Northwest Airlines begins providing “car rental upgrade” to their business frequent flyers, which of the following business strategies it is pursuing? (Points : 4)

Limitation

Focus

Sticking to core competencies

domination

Question 26.26.What skill centers on a manager’s mental ability to coordinate all of the organization’s interests and activities? (Points : 4)

Conceptual

Interpersonal

Technical

political

Question 27.27. The Major contributor to employee theft is (Points : 4)

Employee poverty.

Management ethical climate perceived to be lenient

Management ethical climate with rigid attitudes

The lack of year-end bonuses

Question 28.28. Team leader Gary is scheduled to prepare a performance of Lisa, a team member who also happens to be his wife’s closest friend. The ethical temptation Gary faces is (Points : 4)

Sexual harassment.

Misuse of corporate resources

Dealing with confidential information

Conflict of interest.

Question 29.29.The stakeholder view of social responsibility states that organizations must respond to the needs of (Points : 4)

Employees and customers.

Shareholders and owners.

All interested and involve parties

All those who might sue the organization.

Question 30.30.Which one of the following approaches to creating an ethical and socially responsible workplace is likely to be the most powerful? (Points : 4)

Passing out buttons with the statement “Just Say No to Bad Ethics”

Placing posters about ethics throughout the organization

Top management acting as models of the right behaviour

Including a statement about ethics and social responsibility in the employee handbook

Question 31.31.A firm is said to have good corporate social performance when (Points : 4)

Stockholders invest in socially responsible causes.

Workers are well paid and layoffs are minimized

The company has not been convicted of ethical violations for five consecutive years.

Stakeholders are satisfied with its level of social responsibility.

Question 32.32. Which of the following is an argument against formal planning? (Points : 4)

Planning focuses on the future.

Planning may create rigidity.

Planning replaces creativity

Planning ignores prior successes

Question 33.33.Tim’s Company is analyzing the technology that allows it to produce wireless communication equipment for less money. This technological breakthrough for Tim’s Company is which of the following? (Points : 4)

Strength

Weakness

Opportunity

Threat

Question 34.34. Larry’s Company is in the process of buying a smaller competitor and incorporating that company’s resources into his business. This is an example of which of the following types of strategies? (Points : 4)

Domination

Sticking to core competencies

Strategic alliances

Redefining the industry

Question 35.35. Why people do not like change? (Points : 4)

Fear of losing something already possessed

Change substitute’s ambiguity and uncertainty for the known

The time and effort they invest in learning the existing system

All of the above