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Exam 1: Managing

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Question 61

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The four key elements that make the current business environment different from the past include globalization,technological change,the importance of knowledge and ideas,and collaboration across organizational "boundaries."

A) True
B) False

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Question 62

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"Cost competitiveness" means pricing your products lower than all competitors' products.

A) True
B) False

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Question 63

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Scrappy Sales,Inc.a local recycling plant,recently embarked on an effort to increase coordination and cooperation within the company.During the process,Scrappy managers reviewed and specified job responsibilities,grouped jobs into work units and re-allocated resources within the company.Scrappy managers were exercising the management function of

__________ is the excellence of your product.

The primary reason that companies fail is a change in the environment.

Planning today is always a top-down function in which top executives establish business plans and tell others to implement them.

Managing your costs and keeping them down requires being

It can be said that technology both complicates things and creates new opportunities.

A(n) __________ skill is the ability to perform a specialized task that involves a certain method or process.

When a customer service manger works to diffuse a situation with an irate customer,which of Mintzberg's roles is he/she taking on?

The planning function can be described as delivering strategic value.

To be efficient is to achieve organizational goals.To be effective is to achieve goals with minimum waste of resources.

The fundamental success drivers for an organization are innovation,quality,speed,and product delivery time.

"We have moved from an economy of hands to an economy of heads." Do you agree with this statement? Explain.

List and explain each of the five keys to managing for competitive advantage.

Scenario B. Suppose you are interviewing the CEO of a large company. The CEO is telling you about his/her job as a manager and how he/she spends time. Using the descriptions below, which function of management is the CEO most likely describing in each of the examples? -"My job,for some part of each day is to empower our employees to think of things in new and different ways,not just to come to work and complete the tasks on a list."

Top-level managers focus on

Listening to employee suggestions,gaining support for organizational objectives and fostering an atmosphere of teamwork are all considered

Globalization affects only large companies.

While many companies customize their products,which customers like,this is not an aspect of quality.