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MGT 301 Answers: Which of the following goals satisfies the SMART criteria?

Which of the following goals satisfies the SMART criteria?

Which of the following goals satisfies the SMART criteria?

A) “As a talented florist, I will sell $100,000 in flowers.”

B) “This company will greatly improve its performance next year.”

C) “Within the next six months, I will grow my sole proprietorship into a corporation that is larger than Apple and IBM combined.”

D) “Improve our customer-service ratings.”

E) “In the next quarter, our Houston sales rep will increase sales by 10%.”

 

T/F: When using MBO, managers should meet about once a year, either informally or formally, to review progress on meeting objectives is FALSE.

 

T/F: Paula is the store manager for a national grocery retailer, and she received the yearly tactical plan from Greg, her district manager. Paula is meeting with her department managers to plan how to implement the specific tasks outlined in Greg’s plan for the next year. Paula is engaged in operation planning is TRUE.

 

When sitting at her desk, Ann is setting goals and deciding how to achieve them. She is
a) controlling
b) synergizing
c) delegating
d) diversifying
e) planning

 

_______ can help workers focus on critical problems, choices, and opportunities.
a) a strong value system
b) planning and strategic management
c) diversity planning
d) MBO
e) an effective synergy policy

 

T/F: The first three steps in the strategic-management process are establishing the mission and the values statement, assessing the current reality, and formulating the grand strategy is TRUE.

 

The growth, stability, and defensive strategies are common
a) types of differentiation plans
b) cost-leadership strategies
c) stabilization strategies
d) leadership
e) grand strategies

 

Delux technology has a reputation of reliability and winning customer service, qualities that helped to build this highly respected name brand over the last 15 years. Speaking at a recent business conference, Steve, the CEO of Delux, told his audience, “we have built out a reputation by changing little over the last several years, but consistently helping customers with great, caring service and a reliable product.” which type of strategy does Delux technology use?
a) retrenchment strategy
b) growth strategy
c) defensive strategy
d) stability strategy
e) merger strategy

 

T/F: Competitive intelligence means gaining information about one’s competitors’ activities so that you can anticipate their moves and react appropriately. For example, managers gain competitive intelligence by reading business publications, such as the Wall street journal, in order to understand competitors’ business plans, goals, and strategies is TRUE.

 

Strategy formulation is the process of
a) selecting the employees who best fit the organization
b) developing a strong diversity plan
c) choosing among different strategies and altering them to best fit the organization’s needs
d) gaining information about competition and then selecting which information to react to
e) strategically controlling your employees’ actions

 

_______ is(are) included in strategic control
a) monitoring the execution of strategy and making adjustments, if necessary
b) seldom making adjustments to a strategy
c) implementing MBO
d) a strong employee diversity and synergy agenda
e) developing a diversity plan

 

A SWOT analysis is
a) an analysis of strategies, ways to improve, output methods, and threats influencing a company
b) a search for the strengths, weaknesses, opportunities, and threats influencing and organization’s competition
c) a diversity and synergy method used in vertical integration
d) an inexpensive method of implementing a forecast
e) a search for the strengths, weaknesses, opportunities, and threats affecting an organization

 

T/F: Decision making is the process of identifying and choosing alternative courses of action is TRUE.

 

T/F: The rational model assumes that managers have complete information, are able to make an unemotional analysis, and are able to make the best decision for the organization is TRUE.

 

T/F: With satisficing, managers look for alternatives until they find one that is satisfactory, not optimal is TRUE.

 

______ is a data-mining technique used to predict future behavior and anticipate the consequences of change
a) decisions by trends
b) the decision tree
c) GIGO
d) data digging
e) predictive modeling

 

ABC medical technology, a fast-growing global research firm, has accumulated so much client information that conventional database management systems cannot handle its customers’ needs. Therefore, ABC purchased a very sophisticated analysis software and supercomputing-level hardware. For the company’s work with hospitals and university medical schools, ABC has been noted in the Wall street journal as a “real pioneer in innovation and productivity.” ABC medical technology is tapping the power of
a) super data
b) mega IT
c) big data
d) new age computing
e) cyber-age databases

 

A person’s _________ reflects the combination of how he or she perceives and responds to information
a) big data perception
b) decision-making style
c) time orientation
d) ambiguity index
e) location on the introvert/extrovert scale

 

T/F: Dave, a graphic designer with Development Advertising, enjoys working for the company because of the flexibility of its management and its culture, which encourages risk taking, innovation, and creativity. Dave gets quick answers from his boss, which allows him and Development advertising to quickly respond to changes in the marketplace. Development advertising is an example of an adhocracy culture is TRUE.

 

T/F: Changing organizational culture is essentially a teaching process, a process in which members instruct each other about the organization’s preferred values, beliefs, expectations, and behaviors is TRUE.

 

T/F: When Angela, a new nurse was hired at Mercy hospital, the HR manager gave her a handout containing a chart that showed a family-tree like pattern of boxes and lines. This document, which shows the formal lines of authority and the organization’s official positions and work specializations, at the hospital is called an organization chart is TRUE.

 

Jean-Paul, the store manager at an H&M outlet, was speaking with Patty, his new assistant manager, about the store’s system of job realtionships; he also explained whom she will report to and who will report her. Jean-Paul said, “this structure is one of the things that motivates our employees to work together to achieve our company’s goals.” Jean-Paul was telling Patty about the store’s
a) diversity plan
b) code of ethics
c) values statement
d) organizational structure
e) organizational culture

 

According to the competing values framework, the four types of ______ are clan, adhocracy, market, and hierarchy
a) organizational cultures
b) industry cultural standards
c) organizational standards
d) organizational values
e) value statements

 

Quality paper products utilizes a structure that includes functional divisions, such as accounting and production, and a divisional chain of command, such as the home products and office divisions. For example, Mariana, a salesperson, reported to both her sales manager and the office products manager when she first started working on the city of Springfield account. Quality paper products has a
a) geographic-divisional structure
b) hollow structure
c) team-based approach
d) modular structure
e) matrix structure

 

The safety committee, a temporary team at the Annapolis tool and die corporation, was established to make factory floor a safer place. Members of the committee still work in their department full-time, but they meet twice a month for a few hours as a committee. The safety committee is an example of a ______ within an organization
a) modular design
b) horizontal design
c) vertical design
d) common purpose
e) multipurpose design

 

With a modular structure, a firm ________. An example of the modular structure is the massive 787 Dreamliner project, in which Boeing contracted with many suppliers, each responsible for one component or assembly, which were then integrated to make the aircraft
a) consists of a company with many divisions
b) is an organization whose members are geographically apart, usually working via e-mail
c) has a central core of key functions and outsources production
d) is a company outside a company that is created specifically to respond to an exceptional market opportunity
e) assembles portions of product provided by outside contractors

 

Peter, the owner of Happy burger, is involved in the company’s daily decisions and has established procedures for every task. The company rules are clearly specified in the handbook, and Peter also believes in close supervision of all employees. Happy burger is a(n) __________ organization
a) informal
b) decentralized
c) mechanistic
d) non-hierarchical
e) organic

 

Raul, a salesperson for the Lovely landscapes landscaping company, is working with a longtime customer who is interested in either cutting back on the services or getting a better price due to the tight economy. Raul tells his manager, “I want to take care of the customer with the best value. So what do you think is the best package to offer in this situation?” Raul and his manager are trying to utilize the
a) boundaryless approach
b) streamlined design
c) focused spending approach
d) contingency design
e) mechanistic design

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