36. Which of the following is one of the key elements that
make the current business landscape different from the past? A. Diversity
B. Collaboration
across organizational boundaries
C. Quality
D. Cost
competitiveness E. Speed

37. Successful CEO’s know that the change from a local to a
global marketplace is

A. irrelevant to
today’s business environment.
B. irreversible.
C. unchanging.
D. slowing.
E. no different than
it has been over the last three decades.
38. Globalization is an issue primarily for A. large transnational firms. B.
medium-sized transnational firms. C. small transnational firms. D. domestic
firms with overseas sales. E. all firms.
39. Which of the following statements about the Internet is
true? A. The Internet always makes
things easier. B. The Internet drives down costs. C. The Internet’s only impact
is on business as a whole. D. All email messages are emergencies. E. People
connected to the Internet should respond to email messages immediately.
40. _________ is the set of practices aimed at discovering
and harnessing an organization’s intellectual resources—fully utilizing the
intellects of the organization’s people.
A. Knowledge management B. Collaboration C. Innovation D. Service
management E. Communication management
41. Which of the following statements about collaboration is
true? A. Collaboration occurs only
within the boundaries of the organization. B. It is unrealistic to think that
the company can collaborate with its customers. C. Disclosing your plans by
collaborating with potential investors in your firm is not a good idea. D.
Collaboration is an important process of knowledge management. E. Collaboration
outside of the organization is out of the question because of the risk of
disclosing trade secrets.
42. __________ is the introduction of new goods and
services. A. Collaboration B.
Invention C. Innovation D. Adaptation E. Production life cycle
43. __________ is the excellence of your product. A. Innovation B. Quality C. Quantity D.
Six-sigma E. Customization
44. Which of the following is a way to measure quality? A. Product performance B. Customer service
C. Reliability D. Aesthetics E. All of the above can be used to measure
quality.
45. __________–rapid execution, response, and delivery of
results—often separates the winners from the losers. A. Service B. Quality C. Innovation D.
Speed E. Competitiveness
46. Cost competitiveness means that you A. sacrifice quality to keep costs low. B.
carefully monitor costs mainly during the start-up of business. C. price your
product or service at a level attractive to consumers. D. manage your costs by
being effective. E. offer a high quality product at a higher price.
47. Managing your costs and keeping them down requires
being A. effective. B. fast. C.
mindful of high service requirements. D. efficient. E. collaborative.
48. Which of the following statements about the sources of
competitive advantage is true? A. The best companies choose one source of
competitive advantage and perfect it. B. Managing the sources of competitive
advantage is a zero-sum game where one source improves at the expense of the
other. C. It is possible to improve quality and also enhance speed. D.
Outsourcing certain functions is likely to decrease innovation. E. The faster
the product is provided the more innovation suffers.
49. ______________ is the process of working with people and
resources to accomplish organizational goals. A. Planning B. Management C. Controlling D. Decision making E.
Collaboration
50. The key management functions include A. planning, leading, controlling and
organizing. B. marketing, finance, accounting and production. C. planning,
operations, labor and contracting. D. hiring, training, appraising and firing.
E. marketing, management, finance and accounting.
51. Planning involves which of the following? A. Analyzing current situations B.
Determining rewards for goals achievement C. Attracting people to the
organization D. Motivating employees E. Implementing necessary changes
52. _______________ is specifying the goals to be achieved
and deciding in advance the appropriate actions needed to achieve those
goals. A. Staffing B. Leading C.
Organizing D. Planning E. Controlling
53. The Quilt Shop, Inc. periodically reviews the goals of
the company. During the process, the Quilt Shop managers analyze their current
strategies as compared to their competitors, determine goals that they will
pursue and decide upon specific actions for each area of the company to take in
pursuit of these goals. With these actions the Quilt Shop managers are engaged
in the management function of A.
organizing. B. planning. C. goal coordination. D. controlling. E. leading.
54. Scrappy Sales, Inc. a local recycling plant, recently
embarked on an effort to increase coordination and cooperation within the
company. During the process, Scrappy managers reviewed and specified job
responsibilities, grouped jobs into work units and re-allocated resources
within the company. Scrappy managers were exercising the management function
of A. planning. B. organizing. C.
leading. D. controlling. E. budgeting.
55. ______________ involves assembling and coordinating
organizational resources. A.
Controlling B. Planning C. Organizing D. Leading E. Quantifying
56. Building a dynamic organization is another way of
describing which function of management? A. Planning B. Organizing C. Leading D. Controlling E. Staffing
57. As one of the key management functions, leading focuses
on a manager’s efforts to A. mobilize
people to contribute their ideas. B. build organizations that are flexible and
adaptive. C. make sure goals are met. D. identify opportunities for sustainable
advantage. E. build a dynamic organization.
58. A manager’s ability to stimulate people to be high
performers is referred to as A.
planning. B. organizing. C. leading. D. controlling. E. monitoring.
59. When Johnny Jack, manager of Jack-Mack Enterprises
realized that his plan to increase sales levels among associates was not
producing the results he desired, he took quick action to make necessary
adjustments. Johnny was exercising the management function of A. planning. B. organizing. C. leading. D.
controlling. E. communicating.
60. _______ involves monitoring performance and making
necessary changes. A. Budgeting B.
Planning C. Organizing D. Leading E. Controlling
61. Through careful monitoring of the financial budgets of a
firm, managers can detect potential problems in reaching their financial goals
and take actions to reverse the problem. This is an example of the management
function of A. planning. B.
controlling. C. leading. D. organizing. E. budgeting.
62. Senior executives responsible for the overall management
and effectiveness of the organization are called A. long-term managers. B. middle managers.
C. strategic managers. D. tactical managers. E. short-run managers.
63. The three levels of managers within large organizations
are A. international, regional and
local. B. marketing, management and accounting. C. technical, functional and
departmental. D. upper level, top management and functional. E. top-level,
middle-level and frontline.
64. Top-level managers focus on A. long-term survival of an organization.
B. translating goals and objectives into specific activities. C. managing
frontline managers. D. supervising non-management employees. E. initiating new
daily activities.
65. ________________ managers are typically concerned with
the interaction between the organization and its external environment. A. Regional B. Top-level C. Middle-level D.
Frontline E. Functional
66. CEO, President, COO and Vice President are all titles
typical of which level of management? A. Strategic B. Tactical C. Operational D. Functional E. Regional
67. Which type of manager has responsibility for translating
the general goals and plans developed for an organization into more specific
activities? A. Operational managers B.
Functional managers C. Activities managers D. Strategic managers E. Tactical
managers
68. Lower-level managers who supervise the operational
activities of the organization are called A. frontline managers. B. middle managers. C. top-level managers. D.
tactical managers. E. strategic managers.
69. Tactical managers are often referred to as A. center managers. B. middle-level
managers. C. lower-level managers. D. operational managers. E. upper-middle
managers.
70. Managers responsible for supervising the operations of
an organization are referred to as A.
strategic managers. B. functional managers. C. supervisory managers. D.
operational managers. E. tactical managers.