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Mgt 3301 UHD Ch. 8 Exam Questions And Correct Answers
Managers monitor the four building blocks of competitive advantage by using organizational _______. - ANSWER control
Managers use control systems to _______. - ANSWER monitor, evaluate and get feedback on the organization's efficiency and effectiveness
Click and drag on elements in order
Rank the following steps of the control process in order from first (at the top) to last (at the bottom). - ANSWER 1. Establish standards of performance
- Measure actual performance
- Actual performance is matched against pre-set standards.
- Manager evaluates the outcome and institutes corrective action
As it relates to performance, managers must have to conscientiously select the standard that will help them to measure how they are performing with all four of the building blocks of _______ advantage. - ANSWER competitive
Which step of control process compares actual performance against standards or chosen standard of performance? - ANSWER Step three
Control systems help monitor which of the following building blocks of competitive advantage? (Check all that apply.) - ANSWER Superior efficiency
Innovation
Quality
Responsiveness to customers
Financial measures, organizational goals, and operating budgets are ____ controls. - ANSWER output
Feedback systems which provide managers with information about how well the organizational strategy and structure are working are an example of _______. - ANSWER control systems
Which of the following measures of financial performance is the product of the organization's net income before taxes divided by its total assets? - ANS Return on investment
Which of the following are steps of the control process? (Select all that apply.) - ANS Establish standards of performance
Measure actual performance
Evaluate the result and initiate corrective action
Compare actual performance to established standards
A company is highly leveraged if it uses more _______. - ANSWER debt than equity
When managers set the goals and standards of performance for employees to meet, they are accomplishing the _______ step of the organizational control process. - ANSWER first
What kind of ratio indicates how well managers are using the organization's resources to create profits? - ANSWER Profit
The third step of the organizational control process is to _______. - ANSWER compare actual performance against chosen standards of performance
Operating margin is calculated by _______. - ANSWER dividing a company's operating profit by sales revenues
Which of the following are the three main output controls? (Check all that apply.) - ANSWER Organizational goals
Once top managers set the organization's overall goals, they establish _______ for the divisions and functions. - ANSWER performance standards
A formal system for evaluating subordinates based on their ability to achieve specific organizational goals or standards of performance and to meet operating budgets is _______. - ANSWER management by objectives
Operating budgets are used by managers to _______. - ANSWER make use of organizational resources for realizing organizational goals effectively.
The behavior control mechanism that utilizes rules and standard operating procedures in an attempt to control the behavior of employees is _______ control. - ANSWER bureaucratic
If vital expenditures are decreased while, at the same, time managers try to increase short-term profit by reducing costs, this might very well decrease _______ profitability. - ANS long-term
Which of the following are examples of methods used by managers for behavior control? (Select all that apply.) - ANS Rules and standard operating procedures
Management by objectives
Direct supervision
Which of the following are issues that may arise from utilizing an bureaucratic control system? (Select all that apply.) - ANSWER People become so accustomed to following rules and SOPs that they stop thinking for themselves.
Decision making slows and managers react slowly to changing situations.
Which of the following is an element of direct supervision? (Select all that apply.) - ANSWER Intervening to take corrective action as needed
Training subordinates which behaviors are appropriate and not appropriate
Observation of the subordinate behavior
Monitoring
Management by _______. - ANSWER objectives
The shared set of beliefs, expectations, values, norms, and work routines that influences how members of an organization relate to one another is organizational _______. - ANSWER culture
Bureaucratic control is a means of controlling behavior through _______. (Check all that apply.) - ANSWER SOPs
rules
What kind of culture leads to stagnation and often failure over time? - ANSWER Inert
Which of the following best defines organizational change? - ANSWER The movement of an organization away from its present state and toward some desired future state
In a bureaucratic system, which of the following should managers keep in mind? (Check all that apply.) - ANSWER Managers must cautiously avoid becoming too overloaded with rules.
Too much standardization can lead to people not thinking for themselves.
At what stage of the change process is it important for the managers to recognize that a change is needed? - ANSWER First
Which of the following is affected by the organizational culture? (Select all that apply.) - ANSWER work together to achieve organizational goals
relate to one another
When a manager has identified that a change is required, the next stage is to _______. - ANSWER decide on the change to make
Cultures which lead to values that fail to motivate employees are _______ cultures. -
