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1.

Chapter06-34

Decision making is typically described as ________, which is a view that is too


simplistic.

Correct
Student Response
Answer
A. deciding what is correct
B. putting preferences on paper
C. choosing among alternatives
D. processing information to completion

2.
Chapter06-59

The type of decision making in which the solution is considered "good enough" is
known as ________.

Correct
Student Response
Answer
A. intuition
B. satisfying
C. maximizing
D. satisficing

3.
Chapter06-39

What is the second step in the decision-making process?

Correct
Student Response
Answer
A. identifying decision criteria
B. allocating weights to the criteria
C. analyzing alternatives
D. identifying a problem

4.
Chapter06-54
It is assumed that a perfectly rational decision maker ________.

Correct
Student Response
Answer
A. does not follow rational assumptions
B. does not consider value maximizing as an objective
C. offers inconsistent decisions
D. would be objective and logical

5.
Chapter06-43

In allocating weights to the decision criteria, which of the following is helpful to


remember?

Correct
Student Response
Answer
A. All weights must be the same.
B. The total of the weights should sum to 1.0.
C. Every factor criterion considered, regardless of its importance,
must receive some weighting.
D. Assign the most important criterion a score, and then assign
weights against that standard.

6.
Chapter06-57

When managers circumvent the rational decision-making model and find ways to
satisfice, they are following the concept of ________.

Correct
Student Response
Answer
A. jurisprudence
B. bounded rationality
C. least-squared exemptions
D. self-motivated decisions

7.
Chapter06-41
What is the third step in the decision-making process?

Correct
Student Response
Answer
A. allocating weights to the criteria
B. analyzing the alternatives
C. selecting the best alternative
D. implementing the alternative

8.
Chapter06-36

________ is the existence of a discrepancy between an existing and a desired state of


affairs.

Correct
Student Response
Answer
A. An opportunity
B. A solution
C. A weakness
D. A problem

9.
Chapter06-53

Managers are assumed to be ________; they make consistent, value-maximizing


choices within specified constraints.

Correct
Student Response
Answer
A. rational
B. leaders
C. organized
D. satisficers

10.
Chapter06-52

Which of the following is important to remember in evaluating the effectiveness of the


decision-making process?
Correct
Student Response
Answer
A. You should ignore criticism concerning the decision-making
process.
B. You may have to start the whole decision process over.
C. You will have to restart the decision-making process if the
decision is less than 50 percent effective.
D. Ninety percent of problems with decision making occur in the
implementation step.

11.
Chapter06-47

Selecting an alternative in the decision-making process is accomplished by ________.

Correct
Student Response
Answer
A. choosing the alternative with the highest score
B. choosing the one you like best
C. selecting the alternative that has the lowest price
D. selecting the alternative that is the most reliable

12.
Chapter06-42

If all criteria in the decision making are equal, weighting the criteria ________.

Correct
Student Response
Answer
A. improves decision making when large numbers of criteria are
involved
B. is not needed
C. produces excellent decisions
D. improves the criteria

13.
Chapter06-55

Managers can make rational decisions if ________.


Correct
Student Response
Answer
A. the problem is ambiguous
B. the goals are unclear
C. the alternatives are limited
D. time constraints exist

14.
Chapter06-51

The final step in the decision-making process is to ________.

Correct
Student Response
Answer
A. pick the criteria for the next decision
B. reevaluate the weightings of the criteria until they indicate the
correct outcome
C. evaluate the outcome of the decision
D. reassign the ratings on the criteria to find different outcomes

15.
Chapter07-38

Formal planning involves which of the following aspects?

Correct
Student Response
Answer
A. developing general objectives
B. planning for up to one year
C. writing objectives
D. distributing the plan to all managerial employees

16.
Chapter07-37

In formal planning, ________.


Correct
Student Response
Answer
A. specific goals covering a period of years are defined
B. specific goals are developed and not written
C. general goals are developed and not written
D. general goals covering an unspecified period of years are defined

17.
Chapter07-68

The flexibility inherent in directional plans must be weighed against the ________.

Correct
Student Response
Answer
A. gain of a shorter planning period provided by specific plans
B. gain of a longer planning period provided by specific plans
C. loss of clarity provided by specific plans
D. loss of a shorter planning period provided by specific plans

18.
Chapter07-72

Goals provide the direction for all management decisions and actions and form the
________.

Correct
Student Response
Answer
A. profit basis that the organizations will accomplish for
stockholders
B. desired outcomes that the organizational members will achieve
C. basis for the sharing of profits with the employees at the end
D. criteria against which actual accomplishments are measured

19.
Chapter07-77

When the hierarchy of organizational goals is clearly defined, it forms a ________.


Correct
Student Response
Answer
A. hierarchical-link chain
B. means-ends chain
C. weakest-link chain
D. level-level chain

20.
Chapter07-40

Planning can't eliminate change. Managers plan in order to ________.

Correct
Student Response
Answer
A. be prepared for when changes in management at the top occurs
B. anticipate changes and develop the most effective response to
changes
C. decide what needs to be done when a change in environments
happen
D. have the appropriate materials available when the demand for
them comes about

21.
Chapter07-73

With traditional goal setting, the goals are set at the top level of management and
________.

Correct
Student Response
Answer
A. then they become the responsibility of first-line management to
achieve the goals
B. then they are broken down into subgoals for each level of the
organization
C. all the efforts to achieve the goals are directed by top
management to ensure that they are achieved
D. then they are delegated to the next lower level to be achieved

22.
Chapter07-44
In studies in which formal planning did not lead to higher performance, ________.

Correct
Student Response
Answer
A. the external environment often was the culprit
B. management's execution of the plans was most often the reason
for failure
C. employees' implementation of the plans was the primary reason
for failure
D. lack of communication was most often the reason for failure

23.
Chapter07-74

With traditional goal setting, the assumption is that ________.

Correct
Student Response
Answer
A. top managers know what is best because they see the "big
picture"
B. top managers are unfamiliar with setting goals, so lower-level
managers are assigned to do the task
C. lower-level managers understand more of what needs to be
accomplished
D. lower-level managers are incapable of setting goals

24.
Chapter07-49

Plans are documents that outline how goals are going to be met and ________.

Correct
Student Response
Answer
A. define which department has what responsibilities needed to
accomplish the goals
B. tell what materials and processes are necessary to fulfill the goals
C. identify how much capital is required to complete the goals
D. describe resource allocations, schedules, and other necessary
actions to accomplish the goals

25.
Chapter07-67

Directional plans ________.

Correct
Student Response
Answer
A. have clearly defined objectives
B. identify general guidelines
C. meet the needs of a unique situation
D. last for 3-5 years

26.
Chapter07-57

The most common ways to describe organizational plans are by their frequency of use,
time frame, specificity, and ________.

Correct
Student Response
Answer
A. quantifiability
B. flexibility
C. breadth
D. attainability

27.
Chapter07-47

Planning involves two important elements: ________.

Correct
Student Response
Answer
A. goals and decisions
B. goals and plans
C. plans and decisions
D. goals and actions

28.
Chapter08-57

When an organization attempts to combine with other organizations in the same


industry, the strategy is known as ________.

Correct
Student Response
Answer
A. concentration
B. horizontal integration
C. vertical integration
D. a stability strategy

29.
Chapter08-49

The final step in strategic planning answers the question, ________

Correct
Student Response
Answer
A. How effective have our strategies been?
B. What business have we been in?
C. What business should we have we been in?
D. How much money have we lost?

30.
Chapter08-33

In the first step of strategic management, the mission of the firm answers the question,
________

Correct
Student Response
Answer
A. What business should we be in?
B. What is our reason for being in business?
C. Who are our customers?
D. Who are our creditors?

31.
Chapter08-35

In the first step of strategic management, identifying the current strategies and goals
provides ________.
Correct
Student Response
Answer
A. a basis to determine if the goals need to be changed
B. an understanding of what the competition is doing
C. an idea of what trends and changes are occurring
D. important information about an organization's specific resources
and capabilities

32.
Chapter08-52

When PepsiCo seeks to integrate the strategies of Pepsi, 7-Up International, and Frito-
Lay, it is developing what level of business strategy?

Correct
Student Response
Answer
A. functional
B. system
C. management
D. corporate

33.
Chapter08-37

When an organization is analyzing its labor supply, it is studying its ________.

Correct
Student Response
Answer
A. organizational culture
B. internal environment
C. external environment
D. organizational structure

34.
Chapter08-53

What are the three main types of corporate strategies?


Correct
Student Response
Answer
A. concentration, integration, and diversification
B. growth, stability, and renewal
C. retrenchment, turnaround, and clicks-and-bricks
D. cost leadership, differentiation, and focus

35.
Chapter08-78

What can challenge managers' attempts at creating a long-term, sustainable competitive


advantage?

Correct
Student Response
Answer
A. old technologies
B. predictable changes
C. competitive strategies
D. market instabilities

36.
Chapter08-73

For a small organization in only one line of business, the competitive strategy simply
describes ________.

Correct
Student Response
Answer
A. how the company will compete in its main market
B. what products or services it will offer
C. the customers it wants to reach
D. its competitive advantage

37.
Chapter08-48

The merging of the analyses of internal and external factors influencing the
organization's strategy is known as ________.

Correct
Student Response
Answer
Correct
Student Response
Answer
B. organizational behavior and theory
C. definitional analysis
D. SWOT analysis

38.
Chapter08-32

The first ________ steps of the strategic management process describe the planning that
must take place.

Correct
Student Response
Answer
A. two
B. three
C. four
D. five

39.
Chapter08-64

What type of strategy is a renewal strategy for times when the organization's
performance problems are more critical?

Correct
Student Response
Answer
A. retrenchment
B. turnaround
C. focus
D. differentiation

40.
Chapter08-61

When an organization attempts to combine with other organizations in different and


disassociated industries, the strategy is known as a(n) ________ strategy.
Correct
Student Response
Answer
A. unrelated diversification
B. horizontal integration
C. vertical integration
D. stability