Mgmt 230 Final Exam Highlight Notes with Answers

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MGT 230 Final Exam

1) Planning involves which of the following?

| |A.  Analyzing current situations | | |B.  Determining rewards for goals achievement | | |C.  Motivating employees | | |D.  Implementing necessary changes | | | |

2) _______ is specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals.

| |A.  Staffing |
| |B.  Leading |
| |C.  Organizing |
| |D.  Planning |
| | |

3) Advances in genetic engineering and biotechnology are expected to produce some food products that will become available year-round even in northern climates. These changes will provide grocers with an opportunity to reduce their shipping costs while at the same time, offering fresher produce to their customers. These advances are an example of changes in the

| |A.  technological environment |
| |B.  economic environment |
| |C.  political environment |
| |D.  ecological environment |
| | |

4) _________ trends regarding how people think and behave have major implications for management of the labor force, corporate social actions, and strategic decisions about products and markets.

| |A.  Psychological |
| |B.  Economic |
| |C.  Technological |
| |D.  Societal |
| | |

5) Which of the following is a step in the decision-making process?

| |A.  Generating an idea |
| |B.  Good business planning |
| |C.  Evaluating the decision |
| |D.  Delegating a task |
| | |

6) Which is a step in the decision-making process?

| |A.  Resolving and reducing conflict | | |B.  Making the choice | | |C.  Using the lack of structure | | |D.  Delegating a task | | | |

7) The targets or ends the manager wants to reach are called

| |A.  goals |
| |B.  missions |
| |C.  visions |
| |D.  strategies |
| | |
| | |

8) In the _______________ stage of the planning process, managers should weigh the advantages, disadvantages, and potential effects of each alternative goal and plan.

| |A.  goal and evaluation |
| |B.  goal and plan selection |
| |C.  implementation |
| |D.  alternate goals and plans |
| | |

9) Tactical planning would include which of the following?

| |A.  Profit goals | | |B.  Design, test, and install the equipment needed to produce a new product line | | |C.  Human resources requirements | | |D.  Return on investment | | | |

10) The internal analysis component of the strategic management process assesses the...
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