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Exam 6: Understanding the Management Process

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Question 61

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Financial managers create and manage the systems that convert resources into goods and services.

A) True
B) False

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Question 62

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Decision making involves identifying the problem or opportunity, generating alternatives, selecting an alternative, and implementing and evaluating the solution.

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B) False

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Question 63

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Improved customer satisfaction can include developing good working relationships with suppliers, developing self-managed work teams, and improving quality of employee work.

By holding focus groups with employees, Robert Keening of Snow Bird Airlines is employing which aspect of total quality management?

Implementing a decision requires time, planning, and

For a total quality management program to be effective, it must be treated as a top priority by

​Prioritizing by top management and coordination of the specific elements so they work in harmony with each other are required for _____ to be effective.

The ___ leadership style tends to take initiative and be visionary.

Jessica is hired to keep the books and pay the bills for a small company. She provides a(n) ____ resource for the firm.

The coordination of efforts directed at improving customer satisfaction, increasing employee participation, improving supplier partnerships, and facilitating an organizational atmosphere of continuous quality improvement is known as

​The duties of a marketing manager include facilitating the exchange of products between the organization and its

Specific statements detailing what the organization intends to accomplish over a short period of time are called

Which of the following is not considered a communication skill that may be essential in management success?.

Organizing is the process of grouping resources and activities efficiently and effectively to accomplish an end result.

As a manager carries out his or her functions, the first step is to control, the second is to organize, and the third is to plan.

An outline of the actions an organization intends to take to accomplish its goals and objectives is called its

Karen Smith is a division manager at General Motors and, as such, must ensure that some sort of balance is achieved between the sometimes conflicting goals of the various departments within her division. For example, the marketing department's goal might be to increase sales by 15 percent, whereas the accounting department might strive for certain cost efficiencies. In compensating for these disparate goals, Karen is engaging in

Scott is in charge of managing, selling, and distributing the company's products. Scott is a(n) ____ manager.

Why would technical skills be important to first-line managers?

Frank Roberts recently has been named to head a major manufacturing plant at Dow Chemical. The plant has had significant increases in inventory and declines in net income over the past two years. Frank's task is to eliminate the excess inventory and return the plant to its previous level of profitability. To begin solving this problem, Frank invites suggestions from line workers, gathers managers from various levels of the plant to brainstorm, and talks with experts in the field of operations management. This step in the managerial decision-making process is known as