1. Chapter06-34
Decision making is typically described as ________, which is a view that is too simplistic.
Student Response
Correct Answer
A. B.
deciding what is correct putting preferences on paper C. choosing among alternatives D. processing information to completion 2. Chapter06-59
The type of decision making in which the solution is considered "good enough" is known as ________.
Student Response
A. B. C.
Correct Answer
intuition satisfying maximizing D. satisficing
3. Chapter06-39
What is the second step in the decision-making process?
Student Response
A. identifying decision criteria B. allocating weights to the criteria C. analyzing alternatives D. identifying a problem 4. Chapter06-54
Correct Answer
It is assumed that a perfectly rational decision maker _ _______.
Student Response
A. B. C.
Correct Answer
does not follow rational assumptions does not consider value maximizing as an objective offers inconsistent decisions D. would be objective and logical
5. Chapter06-43
In allocating weights to the decision criteria, which of the following is helpful to remember?
Student Response
A. B. C.
Correct Answer
All weights must be the same. The total of the weights should sum to 1.0. Every factor criterion considered, regardless of its importance, must receive some weighting. D. Assign the most important criterion a score, and then assign weights against that standard.
6. Chapter06-57
When managers circumvent the rational decision-making model and find ways to satisfice, they are following the concept of ________.
Student Response
A.
jurisprudence B. bounded rationality C. least-squared exemptions D. self-motivated decisions 7. Chapter06-41
Correct Answer
What is the third step in the decision-making process?
Student Response
Correct Answer
A. allocating weights to the criteria B. analyzing the alternatives C. selecting the best alternative D. implementing the alternative 8. Chapter06-36
________ is the existence of a discrepancy between an existing and a desired state of affairs.
Student Response
A. B. C.
Correct Answer
An opportunity A solution A weakness D. A problem
9. Chapter06-53
Managers are assumed to be ________; they make consistent, value-maximizing choices within specified constraints.
Student Response
Correct Answer
A. rational B. leaders C. organized D. satisficers 10. Chapter06-52
Which of the following is important to remember in evaluating the effectiveness of the decision-making process?
Student Response
Correct Answer
A.
You should ignore criticism concerning the decision-making process. B. You may have to start the whole decision process over. C. You will have to restart the decision-making process if the decision is less than 50 percent effective. D. Ninety percent of problems with decision making occur in the implementation step. 11. Chapter06-47
Selecting an alternative in the decision-making process is accomplished by ________.
Student Response
Correct Answer
A. choosing the alternative with the highest score B. choosing the one you like best C. selecting the alternative that has the lowest price D. selecting the alternative that is the most reliable 12. Chapter06-42
If all criteria in the decision making are equal, weighting the criteria ________.
Student Response
A.
improves decision making when large numbers of criteria are involved B. is not needed C. produces excellent decisions D. improves the criteria 13. Chapter06-55
Managers can make rational decisions if ________.
Correct Answer
Student Response
Correct Answer
A. the problem is ambiguous B. the goals are unclear C. the alternatives are limited D. time constraints exist 14. Chapter06-51
The final step in the decision-making process is to ________.
Student Response
Correct Answer
A. B.
pick the criteria for the next decision reevaluate the weightings of the criteria until they indicate the correct outcome C. evaluate the outcome of the decision D. reassign the ratings on the criteria to find different outcomes 15. Chapter07-38
Formal planning involves which of the following aspects?
Student Response
A. B.
developing general objectives planning for up to one year C. writing objectives D. distributing the plan to all managerial employees 16. Chapter07-37
In formal planning, ________.
Correct Answer
Student Response
Correct Answer
A. specific goals covering a period of years are defined B. specific goals are developed and not written C. general goals are developed and not written D. general goals covering an unspecified period of years are defined 17. Chapter07-68
The flexibility inherent in directional plans must be weighed against the ________.
Student Response
Correct Answer
A. B.
gain of a shorter planning period provided by specific plans gain of a longer planning period provided by specific plans C. loss of clarity provided by specific plans D. loss of a shorter planning period provided by specific plans 18. Chapter07-72
Goals provide the direction for all management decisions and actions and form the ________.
Student Response
Correct Answer
A.
profit basis that the organizations will accomplish for stockholders B. desired outcomes that the organizational members will achieve C. basis for the sharing of profits with the employees at the end D. criteria against which actual accomplishments are measured 19. Chapter07-77
When the hierarchy of organizational goals is clearly defined, it forms a ________.
Student Response
Correct Answer
A.
hierarchical-link chain B. means-ends chain C. weakest-link chain D. level-level chain 20. Chapter07-40
Planning can't eliminate change. Managers plan in order to ________.
Student Response
Correct Answer
A.
be prepared for when changes in management at the top occurs B. anticipate changes and develop the most effective response to changes C. decide what needs to be done when a change in environments happen D. have the appropriate materials available when the demand for them comes about 21. Chapter07-73
With traditional goal setting, the goals are set at the top level of management and ________.
Student Response
A.
then they become the responsibility of first-line management to achieve the goals B. then they are broken down into subgoals for each level of the organization C. all the efforts to achieve the goals are directed by top management to ensure that they are achieved D. then they are delegated to the next lower level to be achieved 22. Chapter07-44
Correct Answer
In studies in which formal planning did not lead to higher performance, ________.
Student Response
Correct Answer
A. the external environment often was the culprit B. management's execution of the plans was most often the reason for failure C. employees' implementation of the plans was the primary reason for failure D. lack of communication was most often the reason for failure 23. Chapter07-74
With traditional goal setting, the assumption is that ________.
Student Response
Correct Answer
A. top managers know what is best because they see the "big picture" B. top managers are unfamiliar with setting goals, so lower-level managers are assigned to do the task C. lower-level managers understand more of what needs to be accomplished D. lower-level managers are incapable of setting goals 24. Chapter07-49
Plans are documents that outline how goals are going to be met and ________.
Student Response
A.
define which department has what responsibilities needed to accomplish the goals B. tell what materials and processes are necessary to fulfill the goals C. identify how much capital is required to complete the goals D. describe resource allocations, schedules, and other necessary actions to accomplish the goals 25.
Correct Answer
Chapter07-67
Directional plans ________.
Student Response
Correct Answer
A.
have clearly defined objectives B. identify general guidelines C. meet the needs of a unique situation D. last for 3-5 years 26. Chapter07-57
The most common ways to describe organizational plans are by their frequency of use, time frame, specificity, and ________.
Student Response
Correct Answer
A. B.
quantifiability flexibility C. breadth D. attainability 27. Chapter07-47
Planning involves two important elements: ________.
Student Response
Correct Answer
A.
goals and decisions B. goals and plans C. plans and decisions D. goals and actions 28. Chapter08-57
When an organization attempts to combine with other organizations in the same
industry, the strategy is known as ________.
Student Response
Correct Answer
A.
concentration B. horizontal integration C. vertical integration D. a stability strategy 29. Chapter08-49
The final step in strategic planning answers the question, ________
Student Response
Correct Answer
A. How effective have our strategies been? B. What business have we been in? C. What business should we have we been in? D. How much money have we lost? 30. Chapter08-33
In the first step of strategic management, the mission of the firm answers the question, ________
Student Response
Correct Answer
A.
What business should we be in? B. What is our reason for being in business? C. Who are our customers? D. Who are our creditors? 31. Chapter08-35
In the first step of strategic management, identifying the current strategies and goals provides ________.
Student Response
Correct Answer
A. a basis to determine if the goals need to be changed B. an understanding of what the competition is doing C. an idea of what trends and changes are occurring D. important information about an organization's specific resources and capabilities 32. Chapter08-52
When PepsiCo seeks to integrate the strategies of Pepsi, 7-Up International, and FritoLay, it is developing what level of business strategy?
Student Response
A. B. C.
Correct Answer
functional system management D. corporate
33. Chapter08-37
When an organization is analyzing its labor supply, it is studying its ________.
Student Response
A. B.
organizational culture internal environment C. external environment D. organizational structure 34. Chapter08-53
What are the three main types of corporate strategies?
Correct Answer
Student Response
Correct Answer
A.
concentration, integration, and diversification B. growth, stability, and renewal C. retrenchment, turnaround, and clicks-and-bricks D. cost leadership, differentiation, and focus 35. Chapter08-78
What can challenge managers' attempts at creating a long-term, sustainable competitive advantage?
Student Response
Correct Answer
A. B.
old technologies predictable changes C. competitive strategies D. market instabilities 36. Chapter08-73
For a small organization in only one line of business, the competitive strategy simply describes ________.
Student Response
Correct Answer
A. how the company will compete in its main market B. what products or services it will offer C. the customers it wants to reach D. its competitive advantage 37. Chapter08-48
The merging of the analyses of internal and external factors influencing the organization's strategy is known as ________.
Student Response
Correct Answer
Student Response
B. C.
Correct Answer
organizational behavior and theory definitional analysis D. SWOT analysis
38. Chapter08-32
The first ________ steps of the strategic management process describe the planning that must take place.
Student Response
Correct Answer
A. B.
two three C. four D. five 39. Chapter08-64
What type of strategy is a renewal strategy for times when the organization's performance problems are more critical?
Student Response
Correct Answer
A.
retrenchment B. turnaround C. focus D. differentiation 40. Chapter08-61
When an organization attempts to combine with other organizations in different and disassociated industries, the strategy is known as a(n) ________ strategy.
Student Response
A. unrelated diversification B. horizontal integration C. vertical integration D. stability
Correct Answer
