Devry MGMT303/MGMT 303 Mid term Exam Question 1

Devry MGMT303/MGMT 303 Mid-term Exam
Question 1.1.Which of the following is an example of an organization?
(Points : 4)
The Department of Commerce
Apple Inc.
The American Red Cross
All of the above
Question 2.2. In the National Football League, the promotional ads are a(n) _____ resource. (Points : 4)
Question 3.3. Which of the following correctly lists all of the basic management functions? (Points : 4)
Planning and decision making, organizing, leading, and controlling
Planning, decision making, organizing, and controlling
Planning and decision making, leading, and organizing
Decision making, controlling, leading, and coordinating
Question 4.4. The Ford Motor Company sold an auto parts company because profitability was low. The main environmental dimension considered was (Points : 4)
Question 5.5.The degree to which an organization is impacted by or involved in businesses in other countries refers to its (Points : 4)
Political/legal dimension.
International environment.
Economic dimension.
Sociocultural dimension.
Question 6.6.Which of the following is the MOST common approach to the management of ethics? (Points : 4)
Top management support
An unwritten code of ethics
A written code of ethics and top management support
Government regulation
Question 7.7. Identify the statement below that is NOT one of the arguments offered in favor of social responsibility. (Points : 4)
A business should fix the problems it creates.
Corporations have many of the same obligations and privileges as private citizens.
A business is a partner in society with the government and the general population.
Business executives are uniquely qualified to make decisions such as these.
Question 8.8. Which of the following is usually has the least amount of risk as an international business? (Points : 4)
Licensing strategy
Joint venture
Importing/exporting strategy
Direct investment

Question 9.9._____ is the form of international business agreement in which two or more firms have an equity stake in an operation. (Points : 4)
International brokering
Direct investment
A strategic alliance
A joint venture
Question 10.10. With whom is the United States involved in a mature market system? (Points : 4)
The Latin American Integration Association
The Caribbean Common Market
Canada and Mexico
Pacific Asia
Question 11.11. You have decided to become a small business owner. On your business plan, you state that you will be offering high-quality products with the best customer service. What does this statement in your business plan represent? (Points : 4)
An operational plan
A mission statement
A strategic plan
A tactical plan
Question 12.12. If Delta Airlines decides to buy a regional carrier, this would be an example of a(n) _____ plan. (Points : 4)
Question 13.13. When dealing with the strategic planning for an organization, the _____ is the single most important individual in the planning process. (Points : 4)
Chief executive officer
Chief legal counsel
Head of planning task force
Chief financial officer
Question 14.14. Identify the statement that is TRUE when comparing large and small businesses. (Points : 4)
Big businesses outnumber small businesses by a wide margin
Small businesses show consistently lower financial performance than big businesses
Business success creates jobs regardless of size.
Small business formations are on the decline, but the rate for big businesses is increasing.
Question 15.15. Due to cost and other factors, for which of the following industries are you LEAST likely to find a small business owner? (Points : 4)
Question 16.16. Which is the most popular source of funds for a small business? (Points : 4)
Bank loans
Personal financial resources
Money from venture capitalists
Issuing stock in the business
Question 17.17.Which of the following is not a characteristic of the new economy? (Points : 4)
Job opportunities are for knowledge workers.
Business accepts its social responsibilities.
National borders limit competition.
Customer needs drive business.
Question 18.18. Plans that apply to the entire organization, establish the organization’s overall objectives, are called _____ plans. (Points : 4)
Question 19.19. As more employees telecommute (do their work from home), managerial emphasis will be on the: (Points : 4)
Control of working hours.
Means by which work is accomplished
Sources of managerial power
Final output
Question 20.20.When uncertainty is high and management must maintain flexibility, which of the following types of plans are preferable? (Points : 4)
Long-term plans
No plans
Directional plans
Specific plans
Question 21.21. The greater the uncertainty, the more plans should be of the _____ variety. (Points : 4)
Intermediate in length
Question 22.22. Business ethics deals primarily with (Points: 4)
Social responsibility
The pricing of products and services
Moral obligation
Being unfair to the competition
Question 23.23. The statement that answers the question, “what business are we in,” is best described by which of the following? (Points : 4)
Strategic plan
Strategic purpose
Tactical objective
Question 24.24. A company that is assessing its large capital, skilled workers, and many patents is analyzing which of the following? (Points : 4)
When Northwest Airlines begins providing “car rental upgrade” to their business frequent flyers, which of the following business strategies it is pursuing? (Points : 4)
Sticking to core competencies
Question 26.26.What skill centers on a manager’s mental ability to coordinate all of the organization’s interests and activities? (Points : 4)
Question 27.27. The Major contributor to employee theft is (Points : 4)
Employee poverty.
Management ethical climate perceived to be lenient
Management ethical climate with rigid attitudes
The lack of year-end bonuses
Question 28.28. Team leader Gary is scheduled to prepare a performance of Lisa, a team member who also happens to be his wife’s closest friend. The ethical temptation Gary faces is (Points : 4)
Sexual harassment.
Misuse of corporate resources
Dealing with confidential information
Conflict of interest.
Question 29.29.The stakeholder view of social responsibility states that organizations must respond to the needs of (Points : 4)
Employees and customers.
Shareholders and owners.
All interested and involve parties
All those who might sue the organization.
Question 30.30.Which one of the following approaches to creating an ethical and socially responsible workplace is likely to be the most powerful? (Points : 4)
Passing out buttons with the statement “Just Say No to Bad Ethics”
Placing posters about ethics throughout the organization
Top management acting as models of the right behaviour
Including a statement about ethics and social responsibility in the employee handbook
Question 31.31.A firm is said to have good corporate social performance when (Points : 4)
Stockholders invest in socially responsible causes.
Workers are well paid and layoffs are minimized
The company has not been convicted of ethical violations for five consecutive years.
Stakeholders are satisfied with its level of social responsibility.
Question 32.32. Which of the following is an argument against formal planning? (Points : 4)
Planning focuses on the future.
Planning may create rigidity.
Planning replaces creativity
Planning ignores prior successes
Question 33.33.Tim’s Company is analyzing the technology that allows it to produce wireless communication equipment for less money. This technological breakthrough for Tim’s Company is which of the following? (Points : 4)

Question 34.34. Larry’s Company is in the process of buying a smaller competitor and incorporating that company’s resources into his business. This is an example of which of the following types of strategies? (Points : 4)
Sticking to core competencies
Strategic alliances
Redefining the industry
Question 35.35. Why people do not like change? (Points : 4)
Fear of losing something already possessed
Change substitute’s ambiguity and uncertainty for the known
The time and effort they invest in learning the existing system
All of the above

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