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Texas BUS300 exam 2

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Question 1;Decision makers who "cherry-pick" information that matches what they already know are guilty of confirmation bias.;True;False;2 points;Question 2;Which of the following is the most effective number of people to have in a group?;5-7;2-4;10-15;16-25;2 points;Question 3;In forward vertical integration, a company becomes its own ________, while in backward vertical integration, the company is its own ________.;supplier, distributor;supplier, customer;distributor, monitor;distributor, supplier;2 points;Question 4;A sneaker company creating its own stores where it sells only its own brand is an example of which of the following?;forward vertical integration;backward horizontal integration;forward horizontal integration;reverse vertical integration;2 points;Question 5;Which of the following is a frequently cited criticism of formal planning?;Plans lock organizations into rigid goals and timetables.;Plans take too long to create.;Plans create resentment within different levels of the organization.;Formal planning works well only for smaller companies.;2 points;Question 6;Functional departmentalization groups jobs by ________.;tasks they perform;territories they serve;products or services they manufacture or produce;type of customer they serve;2 points;Question 7;Which of the following is used exclusively to generate creative ideas in a group setting?;brainstorming;nominal group technique;groupthink;electronic meetings;2 points;Question 8;When a top manager decides to hire an individual over the objections of her staff, she is exercising which kind of power?;referent;expert;coercive;legitimate;2 points;Question 9;Groups decisions are usually ________ individual decisions.;more efficient than;less efficient than;equal in efficiency to;more efficient but less effective than;2 points;Question 10;In the chain of command, each person above you ________.;has special privileges;receives higher pay;has line authority;has no right to give you orders;2 points;Question 11;Emotions and feelings ________ decision making.;have no effect on;can improve;decrease performance in;are more important than facts and logic in;2 points;Question 12;Liquidity is a measure of an organization's ability to access cash to meet its debt obligations.;True;False;2 points;Question 13;When dealing with international organizations, managers must be ________ in order to accommodate the managing styles of different cultures.;as flexible as possible;as inflexible as possible;as strict as possible;as thorough;2 points;Question 14;A bank manager who passes out bonuses at the end of the year is exercising this.;reward power;coercive power;expert power;referent power;2 points;Question 15;A scientist cites two studies that show a positive effect for her drug and ignores five other studies that show a negative effect. Which error or bias is she committing?;hindsight;anchoring effect;confirmation bias;self-serving;2 points;Question 16;The chain of command answers this question.;Where do I go for help?;How do I know when the task is complete?;What are the rules?;Who reports to whom?;2 points;Question 17;Decisions, Decisions (Scenario);Sondra needed help. Her insurance company's rapid growth was necessitating making some IT changes, but what changes? Should they modify the servers that they currently used or purchase an entirely new system? Sondra was confused and needed help in making the correct decision.;Sondra has decided to purchase a new system. After obtaining permission, she has ordered the system from a reputable company. Which stage of the decision-making process is she carrying out in making the order?;analyzing alternative solutions;selecting an alternative;implementing the alternative;identifying the problem;2 points;Question 18;In a decision tree, which of the following is true?;The probabilities of all of the outcomes must be equal.;The sum of the probabilities of all of the outcomes must equal 1.0.;No outcome can have a probability that is less to 1.0.;The sum of the probabilities of all of the outcomes must be greater than 1.0.;2 points;Question 19;The decision tree shows the profit outcomes for a sandwich shop in a strong and a weak economy. If the economy is strong, the shop is likely to make an $80,000 profit.;True;False;2 points;Question 20;A manager has a choice of three bank CDs that pay different amounts of interest over different time periods. The manager is operating under which condition?;jeopardy;certainty;uncertainty;risk;2 points;Question 21;A manager can faithfully execute the decision-making process but still end up with nothing of value if ________.;he fails to identify the correct problem;he fails to assign number values to different criteria;he solves the problem inefficiently;he fails to correctly identify the steps of the process;2 points;Question 22;In informal planning, goals are usually ________ shared with others in the organization.;written, but little is;unwritten and little is;written and much is;unwritten, but much is;2 points;Question 23;Which of the following is synonymous with work specialization?;division of labor;job discrimination;chain of command;job preference;2 points;Question 24;Most managerial decisions include an element of risk.;True;False;2 points;Question 25;The decision tree shows the profit outcomes for a coffee shop in a strong and a weak economy for next year. What is the probability that the economy will be weak in the coming year?;0.73;27 percent;50 percent;7.3;2 points;Question 26;A soap company that features a bath soap department, a laundry detergent department, and a dish soap department is using which of the following?;process departmentalization;functional departmentalization;product departmentalization;customer departmentalization;2 points;Question 27;Taco Rocket (Scenario);Imagine that you are the president of Taco Rocket, a new and successful chain of 8 Mexican fast-food restaurants. The success you have experienced in the last 5 years has you thinking of what to do with the business next. Should you expand the business at the current rate? Open new and different restaurants? What?;For a limited time, Taco Rocket is thinking of coming out with a new Fifth Degree Burrito that is so hot it "burns a hole in the plate." Catering to the small segment of the market that likes super-hot food is an example of a ________.;focus strategy;cost leader strategy;long-term strategy;differentiation strategy;2 points (Extra Credit);Question 28;Group decisions tend to provide more complete information than individual decisions.;True;False;2 points;Question 29;Which three conditions do decision makers face?;certainty, risk, uncertainty;certainty, uncertainty, confidence;risk, high risk, low risk;certainty, risk, high risk;2 points;Question 30;Which of the following is an example of a strategic goal for a professional baseball team?;to increase attendance by 5 percent over the next three years;to increase television revenues over the next 5 years;to decrease payroll by 20 million over the next 2 years;to average over 90 wins a year for the next 5 years;2 points;Question 31;An internal analysis, the third step of the strategic management process helps identify ________.;opportunities and threats;resources and capabilities;opportunities and possibilities;values and philosophy;2 points;Question 32;Sticking to a decision despite evidence that it is a mistake is called ________.;escalation of commitment;escalation of rationality;satisficing commitment;error enhancement;2 points;Question 33;The first step in the six-step strategic management process is to ________.;analyze the organization's strengths and weaknesses;identify the organization's mission;identify strategies to reach the organization's goals;analyze the opportunities the organization has;2 points;Question 34;Line authority gives a manager the ability to direct the work of ________.;any employee in the firm;any subordinate;any subordinate, after consulting with the next higher level;only subordinates one level down;2 points;Question 35;Which of the following is NOT allowed in a brainstorming session?;clear definition of the problem;criticism or dismissal of poor ideas;large number of alternatives;recording of all alternatives;2 points;Question 36;Which statement accurately defines work specialization?;It is the degree to which tasks are grouped together.;Individual employees specialize in doing part of an activity rather than the entire activity.;Jobs are ranked relative only to their worth or value to the businesses.;Work specialization clarifies who reports to whom.;2 points;Question 37;The personal secretary of a top manager may have ________.;power but not authority;authority but not power;power and authority;line authority but not staff authority;2 points;Question 38;One legislator sees decreased tax revenue as the key problem in the budget. A second legislator sees increased spending as the problem. Each of these legislators has a(n) ________.;representation bias;self-serving bias;availability bias;framing bias;2 points;Question 39;In a condition of certainty, ________.;most outcomes are known;the decision is already made;all outcomes of all alternatives are known;some alternatives are not known;2 points;Question 40;In decision making, a problem can be defined as a discrepancy between what exists and what the problem solver desires to exist.;True;False;2 points;Question 41;Individualistic countries like the United States tend to have ________ than group-oriented countries like Japan.;more conformity and more cooperation;more conformity and less cooperation;less conformity and more cooperation;less conformity and less cooperation;2 points;Question 42;Decisions, Decisions (Scenario);Sondra needed help. Her insurance company's rapid growth was necessitating making some IT changes, but what changes? Should they modify the servers that they currently used or purchase an entirely new system? Sondra was confused and needed help in making the correct decision.;According to the decision-making process, the first step Sondra should take is to ________.;analyze alternative solutions;identify decision criteria;evaluate her decision's effectiveness;identify the problem;2 points;Question 43;SWOT analysis identifies and analyzes an organization's ________.;strengths, weaknesses, opportunities, and threats;strategy for competing in the market;human resource assets;long-term goals;2 points;Question 44;Which of the following is NOT a function of planning?;defining goals;identifying a strategy for attaining goals;settling disputes between employees;coordinating organizational activities;2 points;Question 45;A manager is determining what kind of new computers she should purchase for her department. She has made a list of five different computer models for consideration. Which stage of the decision-making process is this?;selection of an alternative;identification of decision criteria;development of alternatives;analysis of alternatives;2 points;Question 46;Taco Rocket (Scenario);Imagine that you are the president of Taco Rocket, a new and successful chain of 8 Mexican fast-food restaurants. The success you have experienced in the last 5 years has you thinking of what to do with the business next. Should you expand the business at the current rate? Open new and different restaurants? What?;Recently, Taco Rocket has considered buying a local competitor and the two would combine under the Taco Rocket name. This is an example of which of the following?;stability;vertical integration;horizontal integration;diversification;2 points;Question 47;State motor vehicle offices usually use this kind of departmentalization.;product;functional;customer;process;2 points;Question 48;A manager uses break-even analysis to find out how many units of a product he needs to sell to make a profit of zero.;True;False;2 points;Question 49;An external analysis, the second step of the strategic management process, helps identify ________.;the products that a company makes;the long-term goals of a company;a company's opportunities and threats;a company's concern for its employees;2 points;Question 50;A person who satisfices fails to ________.;maximize his or her decision;understand his or her position;accept the truth of a situation;make any kind of decision;2 points;Question 51;Taco Rocket (Scenario);Imagine that you are the president of Taco Rocket, a new and successful chain of 8 Mexican fast-food restaurants. The success you have experienced in the last 5 years has you thinking of what to do with the business next. Should you expand the business at the current rate? Open new and different restaurants? What?;You are thinking of buying a tortilla factory in a nearby state. This action would be an example of ________.;forward vertical integration;horizontal integration;backward vertical integration;forward diversification

 

Paper#25984 | Written in 18-Jul-2015

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