MGT 521 WEEK 6 FINAL EXAM 2 | GRADED A

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MGT 521 WEEK 6 FINAL EXAM 2 1. Which developmental method is useful for helping managers to understand their inner feelings & values? a.outdoor challenge programs b.personal growth programs c.men... toring programs d.multisource feedback workshops 2. According to Yukl, the difference between exchange & collaboration as an influence tactic is a.exchange involves personal trade-offs b.collaboration involves a joint effort to accomplish the same objective c. collaboration does not entail problem-solving d.exchange is a motivator whereas collaboration is not 3. Which condition is likely to encourage ethical behavior in organizations? a.Strong emphasis on individual productivity b.Cultural values for obedience to authority c. Intense competition for valued rewards d.Cultural values for individual responsibility 4. Which statement about moral development of leaders is correct? a.Moral development occurs naturally as a person becomes older & more experienced as a leader b.Someone at the highest level of moral development will risk social rejection to achieve an important ethical objective c.Most people conform to social norms even if they do not have a strong moral self identity d.The consequences of actions are more important than formal rules & laws for determining whether a person's behavior will be ethical 5. Which of the following questions will help individuals & organizations when deciding if their decisions are ethical? a.Do I feel good about this decision? b.Is it balanced? c.Has it been done before? d.Is there a desirable alternative? 6. Shelby recently started selling her invention: A bed that uses magnetic forces to appear as if it floats in mid-air. Shelby is a.an arbitrageur b.an entrepreneur c. a speculator d.an account manager MGT 521 WEEK 6 FINAL EXAM 2 7. Kenya recently quit a job with a large corporation to start her own business. While she realizes that her decision comes with risk, she is excited for the chance to be independent & by the challenges of running her own firm. Kenya is an example of a.an intrapreneur. b.an entrepreneur. c. a venture capitalist. d.a raconteur. 8. Which of the following entails the greatest amount of risk? a.Working for the government b.Working for a large business c.Working for a small business d.Starting a business 9. Which of the following is a major role of business managers today in meeting the wants & needs of the company’s stakeholders? a.Promoting quality of life b.Balancing the demands for higher salaries & stockholders’ profits c.Outsourcing d.Identifying potential customers 10. In performing a SWOT Analysis, which of the following would be considered as a threat? a.Falling trade barriers in attractive foreign markets b.Ability to grow due to increased market demand c.Vulnerability to recession & business cycles d.Subpar profitability 11. Bull's-eye, a regional discount retailer, carefully watches & compares its operation with the operations of its closest rivals. This firm does a.outsourcing b.functional positioning c. core competency ranking d.competitive benchmarking 12. Which of the following is a key step in the accounting cycle? a.Recording information into journals b.Collecting data from customers c. Forecasting expenses & revenues d.Preparing the advertising message MGT 521 WEEK 6 FINAL EXAM 2 13. A firm would use data mining if it wanted to a.store copies of crucial data in several different locations to protect against its loss during disasters such as earthquakes, floods, or terrorist attacks. b.protect its data from unauthorized outsiders. c. increase the rate at which information flows through a firm's intranet. d.discover hidden relationships among the data it accumulates. 14. Free trade means a.buyers & sellers contract with each other & offer some goods at no cost b.goods & services can be traded freely across borders without political or economic barriers c.there is no exchange of currency for these products d.there is no exchange of currency, but the trading partners determine the value of the product & perform a bartering process to exchange goods 15. Why does it make sense to trade with other nations? a.After producing all the product & service its people want & need, a nation can sell the excess products to the world. b.Some nations have lots of natural resources & technological know-how. They have an ethical obligation to offer the rest to other nations. c.A nation can watch the global market to see which product is bringing the highest price & start producing & trading that product. d.A nation will produce what it can produce most efficiently & effectively & buy from other nations what they can produce most efficiently & effectively. 16. Which of the following is true about economies of scale? a.They are available to small firms but not to large firms due to management inefficiencies. b.They are achieved when a firm reduces its average cost of production as it produces more. c. They can be avoided by purchasing supplies & raw materials in large quantities. d.They help explain the success of small businesses. 17. Which of the following correctly identifies the explanation behind the unity of command principle of management? a.Organization design will benefit by the emergence of quick decision-making. b.Organization design will eliminate systems of hierarchy & chains of command due to their hindrance of esprit de corps. c.Organizations that grow will develop several layers of management & the time that it takes to make a decision will increase. d.There will be a significant reduction of work force due to specialization & departmentalization. 18. For many years, Congressman Ricardo Perez has called for more government regulation of business. "After all," the Congressman said recently, "businesspeople are out to make a profit, not to create jobs or serve their customers. The government must MGT 521 WEEK 6 FINAL EXAM 2 pass more laws to require businesses to take the interests of consumers & workers into account." From these comments, it is clear that Congressman Perez a.agrees with the ideas of Thomas Malthus b.does not accept the “invisible hand” idea brought forth by Adam Smith c. is unaware of the fact that most businesses in the United States are owned by the government d.does not realize that government regulation is already the main determinant of business decisions in capitalist economies 19. Which of the following is a valid statement about contingent workers? a.An increasing number of companies are hiring skilled professionals such as accountants as part of their contingent workforce. b.Contingent workers are seldom skilled professionals. c. By law, employers must provide contingent workers the same salary & benefits as permanent employees. d.By law, companies cannot hire contingent workers as part of the management team. 20. Which of the following is a challenge that is facing the human resource managers of today? a.Too many unemployed scientists & computer engineers b.An increasing number of Gen Yers in the workforce c.A shift in employee attitudes toward work d.An increased demand for uniformity in benefits offered to employees candidate, finding her to be pompous, aggressive, & self-serving. In her focus on only the candidate’s education, Kelly may have fallen victim to _______. A. stereotyping B. selectivity C. the halo effect D. assumed similarity 9) It is crucial to determine an acceptable _____ during the comparing step in the control rocess. A. ideal standard B. written report C. measure of organizational performance D. range of varition 20) If a manager rationalizes that he or she does not have time to investigate the source of a roblem & instead resorts to putting out fires, the manager is missing the use of ________. . bureaucratic control . immediate corrective action . basic corrective action . concurrent control 21) Why are feed forward controls more rarely implemented as compared to other types of ontrols? A. Feedforward controls are time-consuming for managers because they must continually onitor progress. B. Feedforward controls result in wasted time & money. MGT 521 WEEK 6 FINAL EXAM 2 C. Feedfoward controls require managers to interact directly with employees. D. Feedfoward controls require timely & accurate information that is hard to obtain. 22) On Monday, Jim’s Taco Shop identified a problem with tainted ground beef that was used to ake tacos & nacho platters for its lunch customers. If the staff at Jim’s did not identify the roblem until after the lunch rush, what type of control would this demonstrate? A. Feedforward control B. Concurrent control C. Proactive control D. Feedback control 23) If a firm wanted toidentify how much money was being made for each sale of a given product (above & beyod the costs associated with making that product), what type of ratio would it use? A. Liquidity ratios B. Levrage ratios C. Actiity ratios D. Profitability ratios 24) Budgets can be used as tools within which two functions of management? . Organizing & leading . Controlling & organizing C. Planning & leading . Controlling & planning 25) The balanced scorecard measures organizational performance against previously established tandards. Which of the four functions of management relates most closely to setting these tandards? . Controlling . Leading . Organizing . Planning 6) During benchmarking, an organization can compare its processes & products to competitors in ts own industry & to non competitors outside the industry. What is a main benefit of comparing firm’s performance against an organization it does not consider a competitor? A non competitor may allow an organization to see its practices more readily than a ompetitor in the same industry. . There is no benefit to benchmarking a firm against a non competitor. . A non competitor may be easier to find & benchmark, because the top firms in the world are so iverse. . A non competitor may be the world leader in a specific process or practice, & an organization an learn from it. 7) ________ is defined as a business firm’s intention, beyond its legal & economic obligations, o do the right things & act in ways that are good for society. A. Social obligation B. Social responsibility C. Social screening D. Values-based management 28) In the ________ approach of going green, organizations respond to the environmental preferences of customers. A. legal MGT 521 WEEK 6 FINAL EXAM 2 B. market C. stakeholder D. activist 29) What can be said about a manager who believes she worked hard & met her organization’s productivity goals despite unfavorable conditions? A. She has an external locus of control. B. She has a high ego strength. C. She has a low ego strength. D. She has an internal locus of control. 30) Which business practice would likely encourage ethical behavior? A. Strong emphasis on individual productivity B. Strong emphasis on leading by example C. Cultural values for obedience to authority D. Intense competition for valued rewards [Show More]

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