Multiple choice questions:
Question 1
The ideal decision-making orientation emphasizes the realization of the organization's potential as well as that of the decision-maker.
True
False
Question 2
Judgment, intuition, and creativity would most likely be classified as:
a modern decision-making technique appropriate for nonprogrammed decisions
a modern decision-making technique appropriate for programmed decisions
a traditional decision-making technique appropriate for programmed decisions
a traditional decision-making technique appropriate for nonprogrammed decisions
either C or D
Question 3
A group decision process in which negative feedback on any suggested alternative is forbidden until all members have presented alternatives is called brainstorming.
True
False
Question 4
The group decision-making process that involves the circulation of questionnaires among group members is known as:
groupthink
brainstorming
the Devil's Advocate technique
the Nominal Group technique
the Delphi technique
Question 5
Heuristic problem-solving techniques are examples of a modern technique that can be applied to a nonprogrammed decision.
True
False
Question 6
________ refers to the fact that managers are constrained in terms of time, computational power, and knowledge when making decisions.
Heuristic
Intuition
Bounded rationality
Satisficing
Question 7
A group decision-making process which forbids negative feedback on any suggested alternative by any group member until all members have presented alternatives is known as:
the Delphi technique
brainstorming
the Devil's Advocate technique
groupthink
the Nominal Group technique
Question 8
When decisions are reached using probability theory, the alternative normally chosen is the one with:
the highest risk
the lowest cost/benefit ratio
the highest expected value
the lowest expected value
the lowest risk
Question 9
The broader the scope of the decision, the higher the level of management responsible for it.
True
False
Question 10
One of the disadvantages of group decision-making is that they cost the organization more than individual decisions.
True
False
Question 11
Which of the following is a standing plan that outlines a series of related actions that must be taken to accomplish a particular task?
procedure
budget
rule
policy
guideline
Question 12
A plan has a greater probability of failing if managers at different levels in the organization are not properly engaged in or contributing to planning activities.
True
False
Question 13
On average, sales forecast are off by approximately ________.
10%
40%
20%
30%
Question 14
A relatively formal sales forecasting method that gathers, evaluates, and summarizes expert opinions as the basis for the forecast is the:
the Delphi technique
the time series analysis method
the salesforce estimation method
jury of executive opinion method
Question 15
A rule is a standing plan that designates specific required action.
True
False
Question 16
During the maturity phase of the product life cycle, the product has been in the marketplace for some time, it is becoming more accepted, and product sales continue to climb.
True
False
Question 17
The portion of the total management system at which a plan is aimed is called the ________ of the plan.
time dimension
longevity
level
scope
repetitiveness
Question 18
Which of the following products may never reach the decline stage of the product life cycle?
newspapers
washing machines
radios
treadmills
scissors
Question 19
The process of formulating a detailed listing of activities that must be accomplished to attain an objective, allocating the resources necessary to attain the objective, and setting up and following timetables for completing the job is:
controlling
scheduling
charting
organizing
planning
Question 20
A standing plan that designates specific required action, indicates what organizational members should or should not do, and allows no room for interpretation is a:
budget
guideline
procedure
policy
rule
Question 21
Which of the following is probably the least important skill for strategy implementation?
organizing skill
allocating skill
interacting skill
analytical skill
monitoring skill
Question 22
A broad and general plan developed to reach long-term organizational objectives is:
an operational plan
a tactic
a scenario
an organizational goal
strategy
Question 23
The last step in the strategic management process is:
establishing organizational objectives
strategy control
strategy formulation
environmental analysis
strategy implementation
Question 24
According to the GE Multifactor Portfolio Matrix, businesses falling in cells that form a diagonal from lower left to upper right are the strongest and the ones the company should invest in and help to grow.
True
False
Question 25
Motivations, status symbols, and attitudes are all important aspects of the international component of the organization's operating environment.
True
False
Question 26
________ is a strategy adopted by management to increasing the amount of business that an SBU is currently generating.
Divestiture
Growth
Differentiation
Retrenchment
Question 27
Demographics are the statistical characteristics of a population.
True
False
Question 28
The ________ component is the part of the general environment related to government affairs.
Economic
Technological
Political
Social
Question 29
The fourth step in the strategy management process is:
strategy formulation
strategic feedback
environmental analysis
strategy implementation
strategic control
Question 30
Which business strategy would generally apply to cash cows?
focus
stability
retrenchment
growth
divestiture
Question 31
The fundamental purpose of planning is:
protection and affirmation
organizing work processes
coordination and elimination of risk
helping the organization reach its objectives
identifying organizational objectives
Question 32
Olive's company wants to provide the highest quality customer service in the jewelry industry. This statement is an example of:
an operational objective
an organizational purpose
an operational plan
an organizational objective
a subsystem
Question 33
Planners need not have significant practical experience within the organization if they have good human relations skills.
True
False
Question 34
The high failure rate of new businesses seems primarily a consequence of inadequate planning.
True
False
Question 35
Managers should establish objectives for employees that are in easy reach.
True
False
Question 36
Short-term objectives are targets to be achieved within five to seven years.
True
False
Question 37
Which of the following is NOT a guideline for establishing quality objectives?
pinpoint expected results
set objectives only in relation to other organizational objectives
set objectives as subjectively as possible
relate objectives to specific actions whenever necessary
let the people responsible for attaining the objectives have a voice in setting them
Question 38
What an organization exists to do, given a particular group of customers and customer needs, is an organizational objective.
True
False
Question 39
Organizational coordination and efficiency are dependent on effective planning.
True
False
Question 40
The targets toward which an open management system is directed are:
operational plans
organizational purposes
individual objectives
organizational objectives
actions