MGT 230 Final EXAM

Topics: Decision making, Management, Decision theory Pages: 5 (1527 words) Published: November 11, 2014
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Correct Answers in Red
1) Planning involves which of the following?
A. Analyzing current situations (most correct, if only one is to be selected) B. Determining rewards for goals achievement
C. Motivating employees
D. Implementing necessary changes
2) _______ is specifying the goals to be achieved anddeciding 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 strategicmanagement process assesses the organization’s A. performance levels
B. competitors
C. industry growth rate
D. product substitutions in the market
11) Suppose you face a question regarding how to handle a defective piece of equipment that your company sold. To tell the customer would cost you a substantial amount of money, but if the equipment fails, it could lead to serious injury of the customer. You decide to disclose the defect and suggest alternatives to eliminate the risk of injury. This decision employs which ethical approach? A. Universalism

B. Egoism
C. Relativism
D. Virtue ethics
12) Your organization faces an ethical question. There has been a problem with your accounting process that has resulted in lower profits being reported than were actually earned. You are attending a meeting where senior management is deciding how to handle the situation. The people at the table have varying views of what action to take and why. John wants to report the error immediately because he believes that it is the right thing to do and that will keep them all out of jail. Bruce wants to report the error because it is the honest thing to do. After hearing his colleagues' opinions, Carlos says he wants to report the error as well because he believes the group is right. Carlos is using which ethical system for his decision making? A. Universalism

B. Relativism
C. Utilitarianism
D. Virtue ethics
13) In the study by Lawrence and Lorsch, companies in complex, dynamic environments developed _____ levels of differentiation; and _____ levels of integration. A. low; low
B. high; high
C. low; high
D. high; low
14) An aspect of the organization’s internal environment created by job specialization and the division of labor is called A. differentiation
B. integration
C. division of labor
D. specialization
15) An...
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