MGMT 330 Exam 2 | Questions and Answers

MGMT 330 Exam 2 | Questions and Answers _____ is the act of determining the organization's goals and the means for achieving them. Planning Which of the following is not a step in the organizational planning process? ...

MGMT 330 Exam 2 | Questions and Answers _____ is the act of determining the organization's goals and the means for achieving them. Planning Which of the following is not a step in the organizational planning process? Plan Marketing tactics Sherry is a first-line supervisor at Rooftop Corporation. She is most concerned with which level of goals? Operational goals A statement that identifies distinguishing characteristics of an organization is known as a(n): Mission statement Silver Star Automobiles holds monthly planning and operational reviews to ensure that it is on track for meeting organizational goals. This involves which stage of the organizational planning process? Monitoring and Learning Darren set goals for each of his employees. Each employee ended up with at least twenty-five goals. This process violates which of the following criteria for effective goals? Covers key result areas High Fence Corporation is currently implementing an MBO program. Managers and employees jointly set objectives and develop action plans, and goal achievement is evaluated on an annual basis. High Fence is missing which major activity that must occur in order for MBO to be successful? Reviewing process Jerrica, a finance manager at LRV industries, is asked by her boss to develop a plan in the event that company sales drop by 20 percent or more. This type of plan is known as a _____. Contingency Plan After Sunshine Systems merged with RTD Enterprises, company executives noticed that due to increased employee collaboration between the two units, costs were down and revenues increased within both areas. This is an example of what business phenomenon? Synergy Janessa is the CEO of a privately-held software company. In defining corporate-level strategies, which of the following questions would she most likely be concerned with? What Business are we in? Which of the following refers to the planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan? Strategy Formulation Fred has been assigned to conduct a SWOT analysis for his organization, Acme, Inc. As part of this assignment, Fred will: search for the strengths, weaknesses, opportunities, and threats that impact his firm. Classy Clay has extremely creative employees who, in the opinion of the organization, keep the company ahead of the competition. The creativity of these employees would be classified as a(n) _____. Internal strength Gatekeep Utilities is a subsidiary of GW Enterprises. Gatekeep has a mission and product line that is unique from GW. Gatekeep's competitors are also very different from those of its parent, and the subsidiary markets to a very different group of customers. As such, Gatekeep can be described as a(n) _____. Strategic Business Unit The BCG matrix organizes along which of the following dimensions? Business growth rate and market share When an organization expands into a totally new line of business, it is implementing a strategy of: Unrelated diversification All of the following are Porter's competitive forces except: Differentiation Which of these is true about the cash cow? It has a large market share in a slow growth industry. The crisis management plan should be a _____ that specifies the actions to be taken, and by whom, if a crisis occurs. Detailed, written plan _____ refers to a desired future state that an organization attempts to realize. Goal Jacob was recently looking at his company's organization chart in an attempt to discover who reports to whom. Jacob is studying his organization's: Chain of command Which of the following refers to the number of employees reporting to a supervisor? The span of management Relative to a flat organizational structure, a tall structure has a _____ span of management and _____ hierarchical levels. Narrow; more _____ means that decision authority is located near the _____ of the organization. Centralization; top The use of teams may lead to too much: Decentralization When departments are grouped together on the basis of organizational outputs, the organization is using a: Divisional structure Kent works at the Tick Tock, Inc. He has two bosses, one a functional manager and the other a divisional manager. Tick Tock, Inc. has a _____ structure. Matrix Kara's department is made up of people with similar skills and work activities. Her organization uses the _____ approach to departmentalization. Vertical Functional With a(n) _____ strategy, the organization attempts to develop innovative products unique to the market. Differentiation All of the following are critical innovation strategies for changing products and technologies EXCEPT _____. Risk propensity Which of the following is NOT a characteristic of a creative individual? Authorization and dependent Which of the following provides a safe harbor where ideas from employees throughout the company can be developed without interference from company bureaucracy or politics? An idea incubator