MGT 500 MIDTERM LATEST (2015 )

Question 1

____ managers are responsible for departments that perform a single functional task and have employees with similar training and skills. 

Answer

Top

Middle

First-line

Bottom

Functional

Question 2

The ____ role involves resolving conflicts among subordinates between the managers department and other departments.

 Answer

resource allocator

entrepreneur

negotiator

liaison

disturbance handler

Question 3

One of the important ideas in the text's definition of management is 

Answer

the management functions of planning, organizing, leading, and controlling.

the attainment of societal goals.

effectiveness is more important than efficiency.

management is unique to for-profit organizations.

efficiency is more important than effectiveness.

Question 4

Positions organized in a hierarchy of authority is an important characteristic of 

Answer

scientific management.

bureaucratic organizations.

quantitative management.

the human relations movement.

total quality management.

Question 5

____ focuses on managing the whole organization to deliver quality to customers. 

Answer

Bureaucracy

Theory Z

Management-by-objective

Total Quality Management

Organization-customer relationship

Question 6

According to Douglas McGregor, the classical perspective on management is consistent with which of the following? 

Answer

Theory X manager

Theory Y manager

Theory Z manager

Theory A manager

Question 7

Symbols, stories, and heroes are important because they

 Answer

entertain executive level management.

address the concerns of government.

acquaint customers to the organization.

communicate the significant values of an organization.

give employees something to talk about.

Question 8

An object, act, or event that conveys meaning to others is referred to as a 

Answer

symbol.

slogan.

story.

hero.

culture.

Question 9

Lying at the heart of Chinese culture, ____ is a supportive, mutually beneficial connection between two people. 

Answer

kaizen

ganqing

renqing

kansei

guanxi

Question 10

A country's physical facilities that support economic activities make up its ____. 

Answer

resource markets

infrastructure

physical markets

product markets

plants and equipment

Question 11

Heineken begins by exporting its product into new markets, and then ____ to a local brewer to establish its position in the market. 

Answer

countertrades

licenses

exports

franchises

markets

Question 12

The ____ is a single European currency that replaced 12 national currencies and unify a huge marketplace. 

Answer

Mark

Franc

MFN

Euro

Pound

Question 13

The concept that the party responsible should compensate individuals for the cost of their injuries is referred to as 

Answer

distributive justice.

injury justice.

procedural justice.

organizational justice.

compensatory justice.

Question 14

Which of the following is a(n) is the individual who must make an ethical choice in an organization? 

Answer

The symbolic leader

An obstructive manager

The defensive individual

The moral agent

An authoritarian manager

Question 15

The assumption that "If it's not illegal, it must be ethical," ignores which of the following? Answer

Domain of codified law

Domain of ethics

Domain of free choice

Discretionary responsibility

Domain of symbolism

Question 16

Which of the following is the process of starting a business venture, organizing the resources, and taking the risks? 

Answer

Intrapreneurship

Entrepreneurship

Small business administration

Venture capital

Equity financing

Question 17

At which stage of growth is the company if it is solidly based and profitable? 

Answer

Resource maturity

Takeoff

Survival

Success

Existence

Question 18

A(n) ____ is someone who recognizes a viable idea for a business product or service and carries it out. 

Answer

intrapreneur

entrepreneur

manager

leader

introvert

Question 19

____ is the first step in the MBO process. 

Answer

Setting goals

Developing action plans

Appraising overall performance

Reviewing progress

Question 20

____ refers to a broadly stated definition of the organization's basic business scope and operations that distinguishes it from similar types of organizations.

 Answer

Mission statement

Goal statement

Management by objective

Goal setting

Corporate competitive-value statement

Question 21

A statement that identifies distinguishing characteristics of an organization is known as 

Answer

a goals statement.

a values statement.

an income statement.

a mission statement.

a competitive-edge statement.

Question 22

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? 

Answer

Strategy formulation

Strategy implementation

Strategy coordination

Strategy control

SWOT

Question 23

The purpose of ________ is to expand the firm’s business operations to produce new kinds of valuable products and services?

 Answer

retrenchment.

diversification.

liquidation.

cash cow.

internal growth.

Question 24

____ refers to the use of managerial tools to direct resources toward the achievement of strategic goals. 

Answer

Strategy formulation

Strategy coordination

Strategy execution

Strategy control

Strategy planning

Question 25

Which of the following portfolio categories is made up of poor performers who command only a small share of a slow growth market?

 Answer

Star

Cash cow

Question mark

Dog

Cat

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