The best example of a firm following a cost-leadership business strategy is. Choose the most appropriate option after reading the following statements. 1. 1. sequential set of analyses and choices through which managers determine a strategy for the enterprise to pursue its objectives. This section includes practice questions related to leadership and management. Monitoring and correcting ongoing activities that facilitate goal attainment is defined as: What is motivating members of the organization to work in the best interests of the organization known as? Can increase employee motivation and satisfaction, An example of evaluating and controlling would be. The second function is to make sure In the food truck industry, for example, it is easy for new firms to enter and compete. Records management is the systematic control of records, from the creation or receipt of the record to its final disposition. 1. What is the difference between algorithms and heuristics? -Rewards for cost reduction (employee incentives), Generate economic value by having lower costs than rivals, -Generate economic value by offering a good or service that provides greater perceived benefits than those of rivals, -Almost anything can be a base of differentiation -A wide range of customers needs can be filled by a wide range of bases of differentiation, -Many methods for differentiating the product or service, -Cost leadership and differentiation can co-exist in the same firm, however mangers must set priorities. -Modular: firm assembles product chunks, or modules, provided by outside contractors, -Mechanistic: centralized hierarchy of authority, many rules and procedures, specialized tasks, formalized communication A. -Vertical functional structure: people are grouped by similar occupational specialties At December 31, 2020, the book value of the equipment was$30 million. Provides more opportunities for advancement B. A firm's ________ is really no more than a socially complex relationship between a firm and itscustomers and can serve as a basis for product differentiation. Its primarily effectiveness oriented Which managers are more expendable in corporate downsizing? Solve the problem without assigning blame, 8. 1. -Flat structure: wide span and fewer levels, -Centralization: decision authority is located near the top of the organization -Simple: authority in centralized in a single person with few rules and low work specialization The threat of new entrants in Porter's Five Forces analysis is often the most important force affecting an industry. separated, 1. answer choices The process of getting things done effectively and efficiently with and through people. -Behavioral: supportive, likes suggestions, show warmth, likes verbal instead of written, low tolerance to ambiguity, Ineffective responses to a decision situation: Relaxed avoidance, relaxed change, defensive avoidance and panic, Relaxed avoidance, relaxed change, defensive avoidance, panic, Three effective reactions and Steven Coveys Urgency Importance matrix, -Availability bias, confirmation bias, representativeness bias, sunk cost bias, anchoring and adjustment bias, escalation of commitment bias, -Greater pool of knowledge, different perspectives, intellectual stimulation, better understanding of decision rationale, Groupthink, satisficing and goal displacement concepts, Vroom-Jagon diagnostic questions pertaining to decision making, -Helps gauge the appropriate amount of participation for subordinates in process, -Listen to all ideas, no criticism, build on others ideas, -Adapt to change and uncertainty, discover errors, reduce costs, increase productivity, complexity, Three types of control: Feed forward, concurrent and feedback control, -Feed Forward: preliminary or preventative control Importance And Importance Of Project Management There is a need for knowledge and control of projects and resource commitment in the organization. B. What should you say? These are. Scientific A. measuring the past and not planning for future growth Determine the quality of the product But Google still has the basic levels of management, including, top, middle, and first-level management and team leaders, 1. Cost savings were not passed along to workers producing those efficiencies. 1. (Choose multiple) A. These are aspects of which macro term? C. Insurance. Effectiveness. -E-commerce: buying and selling of products and services through computer networks over long distances, -Ethnocentrism: belief that their own nation or country is best Please sign in to share these flashcards. A. planning, organizing, directing, and feedback. D. Well defined processes, . Google has unusual work teams. Which of the following is NOT included in what Configuration Management does to answer its goal? Your boss stops you in the hallway to commend you on a report you submitted to her. -Integration: tendency of the parts of an organization to draw together to achieve a common purpose, Stages in the life of the organization, the transitions from small to large firms, and the pyramid of organizational development tasks, -Birth stage: organization is created -TQM: comprehensive approach led by top management and supported throughout the organization dedicated to improvement, training, customer satisfaction The process of delegating instruction without consent of the employees Question 8 30 seconds Q. -Parochial: narrow view in which people see things solely through their own views Salary Only Project Manager. Details about the exam breakdown, credit recommendations, and free sample questions. Beat the competition's product quality B. planning, hiring, directing, and controlling. Staff managers (as opposed to line managers) Karen is an HR manager at Blue Cross/Blue Shield. -conflicts should be resolved by having managers and workers talk over differences and find solutions that satisfy both, work process should be under control of workers with relevant knowledge, Early behaviorism, Elton Mayo, and the principles derived from the Hawthorne effect, -Hawthorne effect: employees work harder if they receive added attention, believe that managers care C. Have the best product prices We'll bring you back here when you are done. In the Great Recession, General Motors went bankrupt, but Ford had acquired long-term financing beforehand that carried it through the downturn. C. federal regulations, 1. Managers pay careful attention to the external environment of the organization: the economy, proposals for laws that would affect profits, stakeholder demands, and consumer and public relations. D. Leave the meeting so they can talk privately. Manage the actions of each of their staff members Stress Management Test 1 Flashcards Quizlet Study with Quizlet and memorize flashcards containing terms like 3 types of Meditation, Mantra Meditation, 3 Kinds of Goals and more. B. Top Trending Quizzes Quiz: Configuration Management Exam Quiz: Configuration Management Exam Are you ready for the 'Configuration Management Exam?' What types of managers are associated with specific areas within the organization? B. And Google uses the following sweeping statement to inspire employees and stakeholders: "to provide access to the world's information in one click." What is one of the most important things you should focus on? Prior to Taylor, managers were owners or appointed by the owners with no role beyond oversight. C. Human resources in a company A. These are, C. planning, organizing, leading, and controlling. Management function that involves working with and through people B. career orientation This is Apple's Principles Of Management Quiz Questions With Answers, Integrated Management of Childhood Illness (IMCI) Quiz. Please upgrade to Cram Premium to create hundreds of folders! Questions and Answers 1. Which of the following bases of product differentiation attempts to create the perception that afirm's products or services are unusually valuable by focusing on links within and between firms? Suppose that you are the vice president of operations of a manufacturing firm that sells an industrial lubricant in a competitive market. Buildings If so, try out our well-researched quiz. -Espoused vs enacted: do the actions of employees reflect what is stated, Definition of the organization and organizing, -Organization: system of consciously coordinated activities or forces of two of more people Uncertainty avoidance-how strongly do people desire certainty 4. C. fixed salaries, 1. Take these online management aptitude test quizzes that have questions based on all important concepts to help you prepare for the exam. 1-5 Mid-term Exam","payreferer_url":"\/flashcards\/copy\/strategic-management-ch-1-5-mid-term-exam-6276236","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. WebStudy with Quizlet and memorize flashcards containing terms like The definition of management, The four key management responsibilities, The concept of organizational performance including efficiency and effectiveness and B. customers, competitors, supplicants, regulations, and advocacy groups A motivation for scientific management, which uses time and motion studies and work standardizations, is to: B. written policies Administering rewards, Barriers to effective control systems including goal displacement, suboptimization, measurementship and falsifying, -Goal displacement: lack of goal congruence created by the motivation to achieve some goals sought by the organization at the expense of other intended goals 1.2.6.3 & 4 Project Charter/PMP, Success measures - 4 cards. Immediately recall the product. -Dimension 2: Person's tolerance for ambiguity(uncertainty), Decision-making styles (directive, analytical, conceptual and behavioral), -Analytical: considers more info and alternatives, high tolerance to ambiguity Note: Each institution reserves the right to set its own credit-granting policy, which may differ from the American Council on Education (ACE). If so, try out our well-researched quiz. Make sure products meet the company's standards. Recommendations for credit-granting scores from the American Council on Education. Efficiency. WebDefine the Strategic Management Process & Identify the Stages. What does "death by planning" mean? Management by objectives is Peter Drucker's version of goal setting. Managers encourage, support, and foster talented employees. -Team based: (process) workgroups are used to improve horizontal relations and solve problems throughout the organization A. lifetime employment guarantees However, she has no marketing goal or patient referral projections for the future. SitemapCopyright 2005 - 2023 ProProfs.com. You should schedule the call at a time that limits the inconvenience to: ________ decides how best to attain a company's mission and vision through the coordinated efforts to achieve specific goals and objectives. People B. that the people in the organization support the strategy WebQ. 1.2.4.5 Process Groups - 7 cards. The exam contains approximately 100 questions to be answered in 90 minutes. Solve the problem without assigning blame. C. make workers solely responsible for improving their conditions. WebWhat is management? Protect the company. A. A. -Importance: rise of virtual organizations, rise of boundaryless organizations, speed and innovation, The significance about learning about international management, Many places are multinational, may deal with foreign customers or partners, Globalization, the global village and e-commerce, -Globalization: trend of the world economy toward becoming a more interdependent system Ask your manager to solve the problem. Controlling may be the most important management function. WebDefine the Strategic Management Process & Identify the Stages. D. Yes, it is always good to control meetings this way. The percentages next to the main topics indicate the approximate percentage of exam questions on that topic. Power distance-how much do people accept inequality in power 3. Heartily cooperate with the men to ensure all the work is done in accordance with the science that has been developed. The subject matter of the Principles of Management exam is drawn from the following topics. Better attention to Johnson & Johnson's ________ might have saved the company from litigation and penalties. Develop operational systems 6. Some of these are pretest questions that will not be scored. firms are unable to differentiate their products. XAT January 2013: Verbal and Logical Ability Solved Question Paper. If you are in the management field and looking for a well-researched 'Introduction to Management' practice quiz with answers, you've reached the right place. Management activities are often grouped into four categories. Financial managers C. Operations managers D. Human resource managers E. Administrative managers F. Top managers G. Middle managers H. First-line managers 2. Talk to your coworkers. One of the responsibilities of operations managers is to IMPROVE the efficiency of product development and manufacturing. A. vision Competition between employees When the company neglects this to make more money, consumers are quick to criticize. Domestic U.S. companies conducting a PESTEL analysis consider national growth, employment, inflation, and interest rates. A. planning, organizing, directing, and feedback. C. Tooling C. Provides smaller, more manageable teams, An example of leading and directing would be, A. A. -Import quotas: limits on the numbers of a product that can be imported Your boss tells you the company needs to save money, so you have to lay-off employees and make other budget cuts. Substitutes are an issue due to the fact that the retail industry offers a wide range of products (Investopedia Staff, n.d.). Quiz: Are You A Lion, A Tiger, Or A Bear? B. resource allocator What are the 6 sources of cost advantage? The control process is also described as: 1. The opacity of the language leaves the law open to manipulation on political grounds. If you had to trim the budget, which of these could you probably cut with minimal impact to your team members? can increase the firms cost of developing its products or services - specifically by either charging a higher price or providing a lower quality, can decrease the price a firm is able to charge for its product or service, Meet approximately the same needs but do so in a different manner place a ceiling on the price a firm can charge for its products or services, The intensity of competition among the firms competitors often results in a reduction of price a firm can charge for its product or service. B. Heartily cooperate with the men to ensure all the work is done in accordance with the science that has been developed. Carefully review the card and then put it in a special place, 1. B. -Measurementship: lack of congruence created by motivation to look good in terms of the measures used in control systems, -Budget: formal financial projection In any ethical situation, the most important thing is to: Find out how you can intelligently organize your Flashcards. Thank her and don't mention the report. Management activities are often grouped into four categories. Managers must motivate employees, negotiate salaries, and encourage employees toward innovation and creativity. Decide if the product will be successful sequential set of analyses and choices through which managers determine a strategy for the enterprise to pursue its objectives. C. Tasks and responsibilities are shared within teams. What types of managers are associated with specific areas within the organization? In the S-C-P model, ________ refers to the strategies that firms in an industry implement. -Unity of command: each employee accountable to one supervisor WebWhich level of management has the primary functions of interpreting and integrating? answer choices True False Question 2 20 seconds Q. Efficiency. Tutor Name 1.2.4.2 Project Phase / 1.2.4.3 Phase Gate - 5 cards. WebManagement. A. project planning chart C. management by objectives, 1. 1.2.4.5 Process Groups - 7 cards. The quiz below consists of some basic questions about management processes and functions. C. ecological, 1. A good staffing plan WebManagement Module Test Flashcards | Quizlet Management Module Test 5.0 (7 reviews) Term 1 / 32 Which is an advantage of a matrix organization? 1.00 - 27 cards. D. Using color-coded file folders for different subjects, D. Using color coded file folders for different subjects. -Responsibility: duty to perform the task or activity the employee has been assigned C. Thank her and tell her who authored the report. What are the VRIO attributes of R&Cs producing temporary Competitive Advantage? The process of delegating instruction without consent of the employees Question 8 30 seconds Q. 1. ________ reduces uncertainty and indicates what everyone is expected to accomplish. You own a company. 1. D. Ignore the problem until someone reports it. A. setting SMART goals People are not motivated when they do not have clear goals and do not know what is expected of them. Each team is 3 to 4 people who work independently of other teams, but each team posts weekly to a company blog about what they are doing. C. process of continual adjustment, 1. B. Porter's Five Forces -Norms: rules of behavior that address such issues as how employees dress and interact, usually found in employee handbook, The four function of organization culture, -Organizational identity, collective commitment, social system stability, sense making device, -Level 1: observable artifacts (enacted culture) -Functional vs dysfunctional: does the culture enhance organizational productivity and performance -Divisional: people with diverse occupational specialties are put together in formal groups by similar products, customers, or geographic regions, Organization structure: matrix, team-based, net work and modular, -Matrix: organization combines functional and divisional chains of command in a grid so that there are two command structures-vertical and horizontal Industries in which a large number of small or medium-sized firms operate and no small set offirms has dominant market share or creates dominant technologies are called ________ industries. A company wishes to convince customers that its product or service provides more value to them than a competitor's product or service. Human Resources works with managers to do employee evaluations. Web1. Years ahead." A. quality assurance and quality control programs Porter's model includes all of the following EXCEPT: Cost-leadership and product-differentiation strategies are so widely recognized that they are oftencalled, When managers committed to an incorrect course of action increase their commitment to this actioneven as its limitations become manifest, this is known as, Cost-leadership firms are typically characterized by very ________ cost-control systems, The ability of companies that produce complex software packages to tailor these packages to thespecific needs of their customers is an example of product differentiation through. Resources & Capabilities that other firms cannot easily obtain or develop, Direct Duplication and/or Substitution is possible, set of business activities in which a firm engages to develop, produce, and market its products or services. B. entrepreneur, employee selector, and negotiator Kim, a manager at a chiropractic office, created 12 goals and objectives for her organization. In general, what is a business's most valuable resource? 1.2.6.3 & 4 Project Charter/PMP, Success measures - 4 cards. Immediately place the card in your pocket. B. make manual labor run more efficiently Testing to ensure quality products E. Manufacturing, . B. This is Google's Traditional graphs (bar charts, line graphs, pie charts) help decision makers see patterns and relationships in data contained in typical spreadsheets. Guide to understanding how CLEP scores are calculated and credit-granting recommendations for all exams. Quiz: What Will I Look Like When I'm Older? Quiz! 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