31. (p. 7) Companies such as GE and Nestle

31. (p. 7) Companies such as GE and Nestle, which transcend national borders, are called:
A. International
B. Transnational
C. Internet
D. Globalized
E. None of the above

32. (p. 7) Globalization is an issue primarily for:
A. Large transnational firms
B. Medium-sized transnational firms
C. Small transnational firms
D. Domestic firms with overseas sales
E. All firms

33. (p. 9) One of the most important factors for change in management is the growing need for:
A. Command-and-control management style
B. Good, new ideas
C. Good, experienced employees
D. Eliminating costs
E. International recognition

refers to the practices aimed at discovering and harnessing an organization’s intellectual
resources?
A. Collaboration
B. Knowledge management
C. Innovation
D. Competitiveness
E. Effectiveness

Chapter 01 – Managing
35. (p. 10) All of the following are forms of collaboration across boundaries EXCEPT:
A. Partnering with a supplier to build success of both companies
B. Competitors joining forces to cooperate in pursuit of a common business interest
C. Sharing knowledge freely across the organization
D. Creating a new product to replace an existing one the company already produces
E. None of the above

Chapter 01 – Managing
36. (p. 11) Which of the following is NOT one of the fundamental success drivers for managing
competitive advantage?
A. Innovation
B. Quality
C. Speed
D. Cost competitiveness
E. All of the above are drivers for competitive advantage

37. (p. 12) _______ is the introduction of new goods and services.
A. Success
B. Strategic quality planning
C. Innovation
D. Competitive advantage
E. Entrepreneurship

: 2

38. (p. 13) All of the following statements regarding innovation are true EXCEPT:
A. It comes from people
B. It must be a strategic goal
C. It must be managed properly
D. It is only effective for large companies
E. All of the above are true

Chapter 01 – Managing
39. (p. 13) Which of the following concepts has been referred to as “today’s Holy Grail?”
A. Speed
B. Quality
C. Innovation
D. Finance
E. Management

40. (p. 13) The excellence of your product (goods or services) is called
A. Innovation
B. Quality
C. Speed
D. Cost competitiveness
E. None of the above

41. (p. 13-15) Surveying customers is about how helpful the staff was is an example of an
organization assessing ______________.
A. Innovation
B. Quality
C. Service
D. Cost competitiveness
E. Both B and C

Chapter 01 – Managing
42. (p. 14) Quality can be measured in all of the following terms EXCEPT
A. Product performance
B. Customer service
C. Eliminating failures or breakdowns
D. Being first in a new market
E. Aesthetics

43. (p. 15) Fast and timely execution, response and delivery of results is called:
A. Innovation
B. Speed
C. Cost competitiveness
D. Quality
E. Control

44. (p. 16) Cost competitiveness means that you
A. Sacrifice quality to keep costs low
B. Carefully monitor costs mainly during the start-up of business
C. Price your product of service at a level attractive to consumers
D. Manage your costs by being effective
E. All of the above

Chapter 01 – Managing
45. (p. 17) Which of the following statements is most accurate regarding competitive
advantage?
A. You may successfully select one competitive advantage and stick with it permanently
B. You will be most successful if you work on one element of competitive advantage at a time
C. The best managers and companies deliver all four elements of competitive advantage
D. Competitive advantage is over-rated as a factor for success
E. None of the above

46. (p. 19) ______________ is the process of working with people and resources to accomplish
organizational goals.
A. Planning
B. Management
C. Controlling
D. Decision making
E. None of the above

47. (p. 19) Which of these is NOT a key management function?
A. Controlling
B. Planning
C. Leading
D. Researching
E. Organizing

Chapter 01 – Managing
48. (p. 19) The key management functions include:
A. Planning, Leading, Controlling and Organizing
B. Marketing, Finance, Accounting and Production
C. Planning, Operations, Labor and Contracting
D. Hiring, Training, Appraising and Firing
E. Marketing, Management, Finance and Accounting

: 3

49. (p. 19) Planning involves all of the following EXCEPT:
A. Analyzing current situations
B. Determining objectives
C. Determining rewards for goals achievement
D. Deciding actions to be taken
E. All of the above

50. (p. 19) _______________ involves analyzing a situation, determining goals to be pursued
and deciding upon the actions that will be taken to achieve these goals.
A. Staffing
B. Leading
C. Organizing
D. Planning
E. Controlling

51. (p. 19) The Aquatic Center, Inc. periodically reviews the goals of the company. During the
process, The Aquatic Center managers analyze their current strategies as compared to their
competitors, determine goals that they will pursue and decide upon specific actions for each
area of the company to take in pursuit of these goals. The Aquatic Center managers have been
engaged in the management function of:
A. Organizing
B. Planning
C. Goal Coordination
D. Controlling
E. All of the above

Chapter 01 – Managing
52. (p. 20) Building a dynamic organization is another way of describing which function of
management?
A. Planning
B. Organizing
C. Leading
D. Controlling
E. Staffing

Chapter 01 – Managing
53. (p. 20) Gilmore, Inc. recently embarked on an effort to increase coordination and
cooperation within the company. During the process, Gilmore managers reviewed and
specified job responsibilities, grouped jobs into work units and re-allocated resources within
the company. Gilmore managers were exercising the management function of:
A. Planning
B. Organizing
C. Leading
D. Controlling
E. Budgeting

54. (p. 20) Organizing includes all of the following activities EXCEPT:
A. Attracting people to the organization
B. Specifying job responsibilities
C. Marshaling and allocating resources
D. Motivating employees to achieve their job’s goals
E. All of the above are correct

55. (p. 20) ______________ involves assembling and coordinating organizational resources.
A. Controlling
B. Planning
C. Organizing
D. Leading
E. All of the above

56. (p. 20) As one of the key management functions, leading focuses on a manager’s efforts to:
A. Communicate with employees
B. Motivate the workforce
C. Guide employees’ efforts
D. Stimulate high performance
E. All of the above

Chapter 01 – Managing
57. (p. 20) A manager’s ability to stimulate people to be high performers is referred to as:
A. Planning
B. Organizing
C. Leading
D. Controlling
E. All of the above

58. (p. 20) When Johnny Jack of Jack Enterprises realized that his plan to increase sales levels
among associates was not producing the results he desired, he took quick action to make
necessary adjustments. Johnny was exercising the management function of
A. Planning
B. Organizing
C. Leading
D. Controlling
E. Communicating

Chapter 01 – Managing
59. (p. 20) _______ involves monitoring performance and making necessary changes.
A. Budgeting
B. Planning
C. Organizing
D. Leading
E. Controlling

60. (p. 20-21) Through careful monitoring of the financial budgets of a firm, managers can detect
potential problems in reaching their financial goals and take actions to reverse the problem.
This is an example of the management function of:
A. Planning
B. Controlling
C. Leading
D. Organizing
E. Budgeting

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