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Mgt 521 Final Exam Latest Question Answers

1990 words - 8 pages

1. ________ is defined as a business firm’s intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society.
• Social screening
• Social responsibility
• Social obligation
• Values-based management
2. The balanced scorecard measures organizational performance against previously established standards. Which of the four functions of management relates most closely to setting these standards?
• Controlling
• Leading
• Organizing
• Planning

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3. Budgets can be used as tools within which two functions of ...view middle of the document...

On Monday, Jim’s Taco Shop identified a problem with tainted ground beef that was used to make tacos and nacho platters for its lunch customers. If the staff at Jim’s did not identify the problem until after the lunch rush, what type of control would this demonstrate?
• Feed forward control
• Concurrent control
• Proactive control
• Feedback control
8. The ________ determines the number of levels and managers in an organization.
• chain of command
• span of control
• unity of command
• delegation of authority

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9. During benchmarking, an organization can compare its processes and products to competitors in its own industry and to noncompetitors outside the industry. What is a main benefit of comparing a firm’s performance against an organization it does not consider a competitor?
• A non-competitor may allow an organization to see its practices more readily than a competitor in the same industry.
• A non-competitor may be the world leader in a specific process or practice, and an organization can learn from it.
• A non-competitor may be easier to find and benchmark, because the top firms in the world are so diverse.
• There is no benefit to benchmarking a firm against a non-competitor.
10. If a manager rationalizes that he or she does not have time to investigate the source of a problem and instead resorts to putting out fires, the manager is missing the use of ________.
• bureaucratic control
• basic corrective action
• concurrent control
• immediate corrective action

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11. Which leadership theory is derived from the belief that a leader’s job is to remove pitfalls and roadblocks so followers can achieve their work goals?
• Contingency theory
• Fiedler’s theory
• Leader participation model
• Path-goal theory
12. A company that wants to distinguish itself from the competition in the marketplace is most likely using which of the following strategies?
• Functional strategy
• Focus strategy
• Differentiation strategy
• Generic strategy

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13. When a manager makes use of a SWOT analysis, one of his or her objectives is to
• set specific short-term performance standards for each department
• formulate appropriate strategies to exploit strengths, protect against threats, and correct weaknesses
• evaluate the desirability of issuing stocks or bonds in the current financial climate
• identify the best employees to fill each position in the organization
14. What can be said about a manager who believes she worked hard and met her organization’s productivity goals despite...

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1795 words - 8 pages management relates most closely to setting these standards? • Controlling • Leading • Organizing • Planning 3. Budgets can be used as tools within which two functions of management? • Controlling and organizing • Planning and leading • Controlling and planning • Organizing and leading Final Exam Answers just a click away MGT 521 Final Exam 4. Indira Patel has been working in her organization’s computer