INTRODUCTION TO BUSINESS & MANAGEMENT

UNIVERSITY COLLEGE OF ISLAMIC ECONOMICS TAZKIA

EXERCISE 4: MANAGEMENT OF BUSINESS

24. Which business constituents analyze their competitive environments and plan, organize,
direct, and control the operations of their organizations?
A) managers
B) regulators
C) customers
D) stockholders
E) agents

26. Which type of manager is responsible for implementing the strategies, policies, and decisions
made by top managers?
A) supervisory manager
B) financial managers
C) office manager
D) middle manager
E) first-line manager

28. What type of skills are needed to understand and work well with people in the workplace?
A) decision-making skills
B) human relations skills
C) conceptual skills
D) motor skills
E) technical skills

30. What type of skills requires defining problems and selecting the best course of action to
take?
A) human relations skills
B) decision-making skills
C) production skills
D) technical skills
E) conceptual skills

32. If Kodak sets out to increase its share of the 35-mm film market by 10 percent during the
next eight years, what kind of goal is the organization setting?
A) a long-term goal
B) a tactical goal
C) an intermediate goal
D) an organizational goal
E) a short-term goal

34. What does e-partnering involve?

A) advertising another company on the "purchasing" company's Web site
B) buying shares of small companies that are similar to the "purchasing" firm
C) sharing a Web server with another company
D) buying shares of small companies that provide technology unavailable to the "purchasing"
company
E) linking up to the inventory records of another company

36. Which element of an organization is defined by shared experiences, stories, beliefs, and
norms?
A) its human resources
B) its corporate culture
C) its product philosophy
D) its organizational structure
E) its mission statement

38. Which description defines the planning function of the management process?
A) guiding and motivating employees to meet organizational objectives
B) discussing how best to arrange an organization's resources into a coherent structure
C) scanning the business environment for threats and opportunities
D) monitoring a firm's performance to make sure that it is meeting its goals
E) determining what an organization needs to do and how best to get it done

40. Hewlett-Packard decides to move toward a more centralized structure. This is an example of
which function in the management process?
A) controlling
B) monitoring
C) leading
D) organizing
E) planning

42. Comparing actual performance against standards is an example of which function of the
management process?
A) organizing
B) strategizing
C) planning
D) controlling
E) leading

44. Which type of business constituent has titles such as President and CEO?
A) top managers
B) middle managers
C) first-line managers
D) stockholders
E) power brokers

46. Which level of management sets general policies, formulates strategies, approves all
significant decisions, and represents the company in dealings with other firms and with
government bodies?
A) production managers
B) top managers
C) operations managers
D) middle managers
E) first-line managers

48. The titles supervisor, office manager, and group leader are examples of which level of
management?
A) human resource management
B) middle management
C) top management
D) first-line management
E) operations management

50. Which of the following managers are directly responsible for getting products from
producers to consumers?
A) marketing managers
B) public relations managers
C) human resource managers
D) financial managers
E) information managers

52. Which of the following managers are responsible for planning and overseeing the firm's
accounting functions?
A) production managers
B) marketing managers
C) financial managers
D) information managers
E) human resource managers

54. Camille Graham is a manager who works well with people and makes them feel excited
about their work. What type of skills is she illustrating?
A) technical skills
B) conceptual skills
C) accounting skills
D) marketing skills
E) human relations skills

56. Which of the following managers depend most on conceptual skills?

A) marketing managers
B) first-line managers
C) middle managers
D) financial managers
E) top managers

58. Which of the following best describes a mission?

a) the shared experiences, stories, beliefs, and norms that characterize an organization
b) an objective that a business hopes and plans to achieve
c) an organization's competitive standing in the marketplace
d) a broad set of organizational plans for implementing decisions made for achieving
organizational goals
e) an organization's statement of how it will achieve its purpose in the environment in which it
conducts business

60. Sometimes a corporation buys and operates multiple businesses in compatible industries as
part of its corporate strategy. This is an example of what type of strategy?
A) customer-driven diversification
B) unrelated diversification
C) e-partnering
D) complex collaborations
E) strategic diversification

62. Which of the following best describes functional strategy?

a) a strategy at the business-unit or product-line level that focuses on improving a firm's
competitive position
b) a strategy that assists first-line managers in making day-to-day decisions about motivating
employees
c) a strategy that integrates an organization's marketing goals into a cohesive whole by focusing
on the ideal product mix to achieve maximum profit potential
d) a strategy by which managers in specific areas decide how best to achieve corporate goals
through productivity
e) a strategy for determining the firm's overall attitude toward growth and the way it will
manage its businesses or product lines

64. Doreen Madison has been tracking product sales for McCoy Industries. She notices that
sales of surgical supplies have fallen off in the past six months and she is considering strategies
to reverse this trend. This is an example of what function of the management process?
A) planning
B) leading
C) controlling
D) organizing
E) budgeting

66. Terrell is being considered for promotion from a supervisory role to top management. He is
unsure whether he is qualified for the position. He wants to ensure that he is an effective
manager, and not simply having success in the workplace because of his multiple promotions in
the last few years. Although he's never been a top manager, there are some things he does in his
personal life other members of the management team think qualify him for the position.
What personal activity does management most likely think is a good indicator of whether or not
Terrell will be an effective top manager?
a) He is part of a theatrical group that gives performances to hundreds of people, showing that
he is not afraid to speak in front of a crowd.
b) He has many siblings, showing that he knows how to share space with a large number of
people.
c) He quickly learns how to play new games by following the rules explained to him.
d) He juggles being a parent, working as a middle manager, and having personal hobbies,
showing an ability to do well in all aspects of his life without going overboard in one or
neglecting another.
e) He was a member of the debate team in high school and consequently is well-versed in being
able to argue both sides of an issue.

68. "Teach For America provides a critical source of well-trained teachers who are helping break
the cycle of educational inequity. These teachers, called corps members, commit to teaching for
two years in one of 39 urban and rural regions across the country, going above and beyond
traditional expectations to help their students achieve at high levels.
"Teach For America's 20,000 alumni are playing critical leadership roles in the effort to improve
the quality of public education in low-income communities. Armed with the experience,
conviction, and insight that come from leading children to fulfill their potential, our alumni are
working from all sectors to shape our schools, policies, and investments in low-income
communities."
What objective might Teach For America have, based on its company mission?
A) Teach For America will open a food bank in low-income communities in each of its 39
regional offices. B) Teach For America will change the corps member service commitment to
four years, versus two.
C) Teach For America will open ten new regional offices by the year 2020.
D) Teach For America will transition from a nonprofit to a for-profit organization in 2015.
E) Teach For America will increase the number of its alumni in leadership positions within
school systems across the United States by 10 percent each year.

70. Increasing sales by 4 percent in the next eight months is an example of what kind of goal?
A) intermediate
B) long-term
C) strategic
D) short-term
E) tactical

72. Which of the following is the best example of unrelated diversification?

A) Northwest Airlines merging with Procter & Gamble
B) Tootsie Roll merging with Hershey
C) Bath and Body Works merging with The Body Store
D) McDonald's merging with Burger King
E) Ford Motor Company merging with General Motors

74. Which variable of SWOT analysis identifies changing consumer tastes, hostile takeover
offers, and new government regulations?
A) opportunities
B) weaknesses
C) threats
D) internal factors
E) strategies
76. When conducting a SWOT analysis of an organization, which question can help management
brainstorm for the weaknesses section of the analysis?
A) What external changes present interesting possibilities?
B) What necessary skills do the organization's employees currently lack?
C) What does the organization offer that makes it stand out from other organizations?
D) What aspect of the organization's vision can be altered?
E) What external economic forces can affect the organization's bottom line?

78. When conducting a SWOT analysis of an organization, which question can help management
brainstorm for the threats section of the analysis?
A) What external changes present interesting possibilities?
B) What external economic forces can affect the organization's bottom line?
C) What necessary skills do the organization's employees currently lack?
D) What does the organization offer that makes it stand out from other organizations?
E) What aspect of the organization's vision can be altered?

80. What type of analysis focuses on external factors?

A) environmental analysis
B) functional analysis
C) financial analysis
D) governmental analysis
E) organizational analysis

82. Marty uses computer forecasts to determine possible outcomes of an intended change in his
division. What element of management is Marty utilizing?
A) crisis management
B) related diversification
C) strategy formulation
D) goal setting
E) contingency planning