Business 001 - Introduction to Business » Fall 2020 » Chapter 5 Quiz

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Question #1
Management is the process of planning, organizing, leading and controlling an organization's financial, physical, human and information resources to achieve its goals.
A.   FALSE
B.   TRUE
Question #2
____________________________ is the process of monitoring a firm's performance to make sure that it is meeting its goals.
A.   Supervising
B.   Controlling
C.   Auditing
D.   Tracking
Question #3
The managerial process of planning involves determining the firm's _______ , developing a comprehensive _________ , and designing a ___________ and ___________ plan for implementing the strategy.
A.   goals, tactics, strategy, operational
B.   strategy, goals, plan, tactical
C.   goals, strategy,tactical, operational
D.   vision, goals, plan, operational
Question #4
A(n) _______________________ chart is a tool that helps everyone in the company understand the reporting relationships.
A.   organizational
B.   pareto
C.   flow
D.   picture
Question #5
Common titles for top managers include president, vice president, treasurer, chief executive officer, and chief financial officer.
A.   FALSE
B.   TRUE
Question #6
Match the manager's title with his or her area of specialty: Human Resource Manager
A.   Design and implement system to gather. Organize and distribute information
B.   Responsible for production, inventory, and quality control
C.   Plan and oversee accounting functions and financial resources
D.   Responsible for getting products from producers to consumers
E.   Hire and train employees, evaluate performance, and determine compensation
Question #7
Match the manager's title with his or her area of specialty: Operations Managers
A.   Hire and train employees, evaluate performance, and determine compensation
B.   Responsible for getting products from producers to consumers
C.   Responsible for production, inventory, and quality control
D.   Design and implement system to gather. Organize and distribute information
E.   Plan and oversee accounting functions and financial resources
Question #8
Match the manager's title with his or her area of specialty: Marketing Managers
A.   Hire and train employees, evaluate performance, and determine compensation
B.   Responsible for production, inventory, and quality control
C.   Plan and oversee accounting functions and financial resources
D.   Responsible for getting products from producers to consumers
E.   Design and implement system to gather. Organize and distribute information
Question #9
Match the manager's title with his or her area of specialty: Information Managers
A.   Responsible for production, inventory, and quality control
B.   Plan and oversee accounting functions and financial resources
C.   Hire and train employees, evaluate performance, and determine compensation
D.   Responsible for getting products from producers to consumers
E.   Design and implement system to gather. Organize and distribute information
Question #10
Match the manager's title with his or her area of specialty: Financial Managers
A.   Hire and train employees, evaluate performance, and determine compensation
B.   Responsible for getting products from producers to consumers
C.   Responsible for production, inventory, and quality control
D.   Design and implement system to gather. Organize and distribute information
E.   Plan and oversee accounting functions and financial resources
Question #11
Match the management skill with its description: Technical Skills
A.   Ability to think in the abstract, to diagnose and analyze different situations
B.   Ability to understand and compete in a global environment
C.   Ability to make the best use of time
D.   Ability to perform specialized tasks
E.   Ability to understand and get along with other people
F.   Ability to effectively define a problem and to select the best course of action
Question #12
Match the management skill with its description: Human Relations Skills
A.   Ability to effectively define a problem and to select the best course of action
B.   Ability to make the best use of time
C.   Ability to understand and compete in a global environment
D.   Ability to understand and get along with other people
E.   Ability to think in the abstract, to diagnose and analyze different situations
F.   Ability to perform specialized tasks
Question #13
Match the management skill with its description: Conceptual Skills
A.   Ability to think in the abstract, to diagnose and analyze different situations
B.   Ability to understand and get along with other people
C.   Ability to understand and compete in a global environment
D.   Ability to understand and use software and hardware
E.   Ability to perform specialized tasks
F.   Ability to make the best use of time
Question #14
Match the management skill with its description: Decision-Making Skills
A.   Ability to understand and compete in a global environment
B.   Ability to think in the abstract, to diagnose and analyze different situations
C.   Ability to understand and use software and hardware
D.   Ability to understand and get along with other people
E.   Ability to effectively define a problem and to select the best course of action
F.   Ability to perform specialized tasks
Question #15
Match the management skill with its description: Time Management Skills
A.   Ability to effectively define a problem and to select the best course of action
B.   Ability to make the best use of time
C.   Ability to perform specialized tasks
D.   Ability to think in the abstract, to diagnose and analyze different situations
E.   Ability to understand and use software and hardware
F.   Ability to understand and get along with other people
Question #16
Match the management skill with its description: Global Management Skills
A.   Ability to perform specialized tasks
B.   Ability to understand and compete in a global environment
C.   Ability to understand and get along with other people
D.   Ability to make the best use of time
E.   Ability to understand and use software and hardware
F.   Ability to think in the abstract, to diagnose and analyze different situations
Question #17
Match the management skill with its description: Information Technology Skills
A.   Ability to think in the abstract, to diagnose and analyze different situations
B.   Ability to perform specialized tasks
C.   Ability to understand and get along with other people
D.   Ability to understand and compete in a global environment
E.   Ability to understand and use software and hardware
F.   Ability to make the best use of time
Question #18
A SWOT analysis can be a valuable tool to determine health the organization and its business environment. SWOT is an acronym for:
A.   strengths, weaknesses, opportunities, and tactics
B.   strengths, weaknesses, options, and threats
C.   strengths, weaknesses, opportunities, and threats
D.   strategies, weaknesses, opportunities, and threats
Question #19
_________________________ plans seek to identify in advance important aspects of the business or its market that might change.
A.   Strategic
B.   Operational
C.   Tactical
D.   Contingency
Question #20
To effectively change the organization's culture, top management begins to formulate a ________ of a new company which must include renewed focus on the ____________ of competitors and the _____________ of customers.
A.   vision, activities, needs
B.   vision, role, needs
C.   vision, flow, desire
D.   goal, movement, wants

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