1. The senior management team handed down the corporate goals to the business? units, who created goals and plans to support them and handed those down to the department heads. They likewise handed down their goals to the first line? supervisors, who developed plans with their?non-managerial employees to meet those goals. This organization has created? a(n) ____________.
A. ?needs-based chain
B. ?means-ends chain
C. ?objective-based competitive advantage
D. hierarchy of needs
E. ?strategy-based chain
2. In? 2007, Newmarket Inc. set as its annual production goal the manufacture of? 125,000 units. By?June, the economy had declined so drastically that sales were less than half what they had been one year earlier.? Still, Newmarket management insisted that the firm produce all? 125,000 units. It nearly went bankrupt in the process. Which one of the following statements could have helped prevent this? disaster?
A. Managers should develop plans that are specific then communicate those plans to all who need to know.
B. Make the organizational hierarchy flatter to effectively plan in dynamic environments.
C. It is important to continue formal planning in order to see any effect on organizational performance.
D. Managers need to recognize that planning is an ongoing process.
E. Managers need to stay alert to environmental changes that may impact the implementation of a plan and respond as needed.
3. One purpose of a formal plan is to? _____________.
A. counter actions taken by competitors
B. meet the requirements of the SEC
C. satisfy shareholders
D. get the organization from where it is to where it wants to be
E. provide job security for upper management
4. In addition to offering connections with? customers, a social media strategy can? ________.
A. increase the number of hits by potential customers
B. let competitors know what a firm is planning
C. gather personal information about employees
D. foster stronger ties with the communities in which an organization operates
E. promote collaboration among coworkers and experts
5. One significant difference between traditional goal setting and management by objective is?__________.
A. traditional goal setting is more effective
B. traditional goal setting is more motivational in nature
C. the MBO goals reduce productivity
D. in the MBO? process, goals are set jointly with the person responsible for achieving it
E. MBO is no longer relevant to? today's workforce
6. Management by objective is more effective when? ______________
A. managers meet with employees to set goals together
B. top management is committed to the process
C. goals are communicated to everyone in the organization
D. positive feedback is provided to the employee
E. goals are easily attained
7. Initially Walmart relied on common carrier trucks to ship its orders from vendors to its stores. Eventually it built warehouses and bought its own trucks to ship merchandise from those warehouses to its stores. Walmart grew through? _______________.
A. diversification
B. backward vertical integration
C. conglomeration
D. forward vertical integration
E. horizontal integration