MGMT 303 Principles of Management

Week 8 Final Exam 3 Versions

 

 

MGMT 303 Week 8 Final Exam (Version 1)

 

(TCO1) When the dean of the college of business downsized the college from five departments to four departments, the dean primarily was performing the ____ function of management. (Points : 2)

(TCO 2) State supported universities receive money from state tax payers. Harvard University’s endowmentis so large that Harvard is guaranteed significant income just from the interest the fund generates. The ____dimension of these competitors is different. (Points : 2)

(TCO 2) The expiration of a pharmaceutical drug patent allows generic drug makers to introduce the same chemical compound under a different name and at lower prices. This is an example of ____ for the developer of the original drug. (Points : 2)

(TCO3) New York passed a law requiring no smoking in bars and restaurants. Owners who pressure bartenders and waiters to sell to people who are smoking in order to keep profits high are taking a(n)____ stance toward social responsibility. (Points : 2)

(TCO4) Coca-Cola is based out of Atlanta but reaches into hundreds of countries. The product is locally packaged, but the cola inside is essentially the same throughout the world. Coca-Cola is edging closer to being a(n) ____ business. (Points : 2)

(TCO4) The growth of multinational corporations has left little room for distinction. Any perceived competitive advantage is quickly copied. However, an area for competitive advantage remains in the level of ____ organizations attract, motivate, and retain. (Points : 2)

(TCO5) The ____ of Applebee’s is to gain “weekly repeat guests through providing surprisingly friendlyhospitality, superior quality food, and world class service and value.” (Points : 2)

 

MGMT 303 Week 8 Final Exam (Version 2)

Multiple Choice

1. Question : (TCO1) A CEO of a local newspaper has noticed that the advertising and subscription revenue has been decreasing. The CEO sets a goal of stopping the decline. The CEO is engaged in

2. Question : (TCO 2) State supported universities receive money from state tax payers. Harvard University’sendowment is so large that Harvard is guaranteed significant income just from the interest the fund generates.The ____ dimension of these competitors is different.

3. Question : (TCO 2) The expiration of a pharmaceutical drug patent allows generic drug makers to introducethe same chemical compound under a different name and at lower prices. This is an example of ____ for thedeveloper of the original drug.

4. Question : (TCO3) New York passed a law requiring no smoking in bars and restaurants. Owners who pressure bartenders and waiters to sell to people who are smoking in order to keep profits high are taking a(n)____ stance toward social responsibility.

5. Question : (TCO4) Coca-Cola is based out of Atlanta but reaches into hundreds of countries. The product is locally packaged, but the cola inside is essentially the same throughout the world. Coca-Cola is edging closer to being a(n) ____ business.

6. Question : (TCO4) Eric, an American, is an executive coach at Boeing. One of the executives he coaches is from India. Their diverse backgrounds add variety and create more solutions for management challenges. This illustrates the ____ argument.

7. Question : (TCO5) The ____ of Applebee’s is to gain “weekly repeat guests through providing surprisingly friendly hospitality, superior quality food, and world class service and value.”

8. Question : (TCO5) GE competes in industries ranging from medical devices to appliances to television networks. GE’s mixed strategy is an example of ____ strategy.

9. Question : (TCO6) Jay wants to start a new business. With which of the following methods of starting a new business will he pay a share of the income from the business in return for the use of such things as trademarks and business formulas?

10. Question : (TCO7) Sears has departments for clothing, tools, jewelry, and home goods. This is an example of departmentalization by

11. Question : (TCO7) Andrea had worked in the marketing department for 27 years. She knows the history and successes of the office better than any other employee. When change is suggested, she is reluctant because she remembers accomplishments related to the current way of doing things. As a result of ____, she is resistant to change.

12. Question : (TCO8) Fairway Green Inc. has added a lucrative retirement plan for its employees that includes medical benefits for

retirees. These benefits target which level of need in Maslow’s hierarchy?

13. Question : (TCO8) A mid-level manager has power within an organization due to the management position she occupies. This kind of power is known as ____ power.

14. Question : (TCO9) You are a member of a self-managed team; the team has been experiencing interpersonal conflict among its members. Which of the following techniques could you use to eliminate the interpersonal conflict that is occurring within the self-managed team?

15. Question : (TCO10) The credit crisis and the Federal Reserve’s response to it faced criticism from Congress. The Treasury Department requested a review of the central bank’s structure and governance. There is now broad support for auditing the Fed using the Government Accounting Office. The change in the economic and political environment of the Fed means the Fed needs to adapt its ____ control.

 

MGMT 303 Week 8 Final Exam (Version 3)

Explanatory Answers

1. Question : (TCO1) Discuss the functions of management. Which function of management is the most important? Support your answer.

2. Question : (TCO2) In order to be effective and efficient, CEOs must monitor both the internal and external environments. Is it more important for the CEO to monitor the organization’s external or internal environment?Why?

3. Question : (TCO3) You have recently been assigned as the ethics officer for your organization, as part of your responsibilities you have been asked to write a code of ethics. Discuss the three areas of special concern for managerial ethics that you will need to address specifically in the code of ethics.

4. Question : (TCO4) There are several characteristics that an organization needs to possess to be considered a multicultural organization. Describe what a multicultural organization will look like using these characteristics.

5. Question : (TCO5) Discuss a time in your professional or personal life when you had to implement a reaction plan. How did that plan differ from a contingency plan?

6. Question : (TCO6) If you were considering starting you own business, what are the four major types of information would you include in your business plan?

7. Question : (TCO7) Define the term reengineering. Discuss why an organization might need to engage in it.

8. Question : (TCO8) Briefly explain what is meant by objective and judgmental performance evaluation. Discuss two methods of judgmental evaluation.

9. Question : (TCO9) As a manager, in what types of situations should you use written communication? Briefly discuss the reasons why written communication would be best in these situations.

10. Question : (TCO10) In your opinion, which two characteristics of effective controls are the most important? Why?

11. Question : (TCO2) Compare and contrast the sociocultural and the political-legal dimensions of the general environment, with particular attention to how forces in one could affect the other.

12. Question : (TCO3) Discuss the notion of social responsibility. Discuss how an organization is impacted when its adopts socially responsible practices.

13. Question : (TCO4) Assume you accepted a transfer with your company to move overseas as a manager within the company’s new international division. Discuss the general environmental challenges of international management that you will face in the global environment that you did not face in the domestic environment?

14. Question : (TCO5) The CEO of your organization has developed two potential plans to help the organization cut costs. The CEO has asked you to form a group; the members of the group are to represent a cross-section of all the departments within the organization. The goal of the group is to discuss and decide which of the two proposed plans you should implement to cut costs. Discuss which type of group you would form and why. Discuss the advantages and disadvantages of the using groups to make decisions.

15. Question : (TCO5) Describe the job characteristics approach to job design and explain how it is related to job enrichment and the creation of work teams.

16. Question : (TCO8) Phil W. supervises a group of very competent workers. These employees are involved in a routine task, and the company has written standard operating procedures to cover most of the operation. Phil is trying to decide what leadership style would be most effective in dealing with this group of employees. Discuss the path-goal theory and the substitutes for leadership approach. Which one would you recommend to Phil to use? Why?

17. Question : (TCO9) You are the plant manager at Acme Plastics. You are running two shifts, a day shift and an evening shift. Before the day shift leaves each day, the workers must get an adequate supply of raw materials from the warehouse for the evening shift to use. On several occasions, they have failed to do so. By the time the evening shift gets to work, the warehouse is locked up, and it takes about three hours to get someone out to unlock it and get the production line rolling again. The two shift supervisors are at each other’s throats, and you have to do something to correct the situation. What is the basic problem causing this conflict? What could you do to solve it?