Quiz Chapter 1

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 Question 1
1 out of 1 points
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 | A finance manager who reads the Wall Street Journal on a regular basis would be performing which role?Answer | | | | | Selected Answer:|  b.  monitor|
Answer Feedback:| One of the responsibilities of a finance manager would be to keep track or monitor important events taking place in the business world. Reading the Wall Street Journal would be a good way to do this. After reading, the manager might disseminate some of the information he learned, but this would be secondary to the information monitoring function. A leader or liaison may indeed read a newspaper but only in the function of being an information monitor.|

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 Question 2
1 out of 1 points
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 | One of the common characteristics of all organizations is ________ that define(s) rules, regulations, and values of the organization.Answer | | | | | Selected Answer:|  c.  a systematic structure|

Answer Feedback:| An organization's structure identifies organizational values that include behavioral standards, customs, ethical mores, and conventions that delineate relationships between organization members. The structure of an organization need not be formally written as bylaws. The goals and purpose of an organization can influence its values, but neither of these items can be said to define an organization's values.|

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 Question 3
1 out of 1 points
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 | The Busy Day (Scenario)

Don Sakaguchi, manager at Control Systems, Inc., sighs as he sips his coffee at 5 A.M. and reads his agenda for the day. Don's first duty is to preside over a retirement party for a beloved employee and say a few words on her behalf. Next, he will give a tour to a news reporter who is writing a story on the new plant expansion. Don then has a meeting with the unit manager, Phil Johnson, to discuss Phil's recent performance drop (a task Don always hates). Finally, in the late afternoon, Don will be reviewing the recent equipment malfunction and deciding whether to deploy extra people to get the equipment running as soon as possible. What a day!

When Don reviews the equipment malfunction, what management role will he play in deciding whether to bring in extra people?Answer | | | | | Selected Answer:|  c.  resource allocator|
Answer Feedback:| The decision of whether or not to bring in more workers is a matter of resource allocation-the resources being workers and the allocation referring to how Don chooses to distribute the people he has on various tasks. The malfunction itself could be classified as a disturbance and Don's assessment of it a form of monitoring. However, the key here is Don's decision to deploy extra people, and that again is a matter of resource allocation.|

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 Question 4
1 out of 1 points
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 | A pharmaceutical company manager attending a meeting of academic scientists would be functioning in which role?Answer | | | | | Selected Answer:|  c.  liaison|
Answer Feedback:| A liaison functions as a link from one organization to another. In this case, the manager would be linking her for-profit organization to an organization that might provide it with valuable expertise or information. The other choices here are all somewhat valid as the manager would need to procure information, represent her company, and make decisions. However, the liaison role is a much better fit for this situation.|

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 Question 5
1 out of 1 points
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 | In a short essay, discuss the difference between efficiency and effectiveness.Answer | | | | | Selected Answer: | Efficiency is known as "doing things right" while effectiveness is known as "doing the right things". When you are efficient you use th eleast amount of time and resources while producing the maximum amount of products. In other words, your output is larger than your input.When you are effective, you are reaching to achieve goals by doing the right...
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