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Texas BUS300 exam 2

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Question;Question 1Decision makers who "cherry-pick" information that matches what they already know are guilty of confirmation bias.TrueFalse2 points Question 2Which of the following is the most effective number of people to have in a group?5-72-410-1516-252 points Question 3In forward vertical integration, a company becomes its own ________, while in backward vertical integration, the company is its own ________.supplier, distributorsupplier, customerdistributor, monitordistributor, supplier2 points Question 4A sneaker company creating its own stores where it sells only its own brand is an example of which of the following?forward vertical integrationbackward horizontal integrationforward horizontal integrationreverse vertical integration2 points Question 5Which 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 6Functional departmentalization groups jobs by ________.tasks they performterritories they serveproducts or services they manufacture or producetype of customer they serve2 points Question 7Which of the following is used exclusively to generate creative ideas in a group setting?brainstormingnominal group techniquegroupthinkelectronic meetings2 points Question 8When a top manager decides to hire an individual over the objections of her staff, she is exercising which kind of power?referentexpertcoercivelegitimate2 points Question 9Groups decisions are usually ________ individual decisions.more efficient thanless efficient thanequal in efficiency tomore efficient but less effective than2 points Question 10In the chain of command, each person above you ________.has special privilegesreceives higher payhas line authorityhas no right to give you orders2 points Question 11Emotions and feelings ________ decision making.have no effect oncan improvedecrease performance inare more important than facts and logic in2 points Question 12Liquidity is a measure of an organization's ability to access cash to meet its debt obligations.TrueFalse2 points Question 13When dealing with international organizations, managers must be ________ in order to accommodate the managing styles of different cultures.as flexible as possibleas inflexible as possibleas strict as possibleas thorough2 points Question 14A bank manager who passes out bonuses at the end of the year is exercising this.reward powercoercive powerexpert powerreferent power2 points Question 15A 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?hindsightanchoring effectconfirmation biasself-serving2 points Question 16The 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 17Decisions, 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 solutionsselecting an alternativeimplementing the alternativeidentifying the problem2 points Question 18In 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 19The 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.TrueFalse2 points Question 20A 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?jeopardycertaintyuncertaintyrisk2 points Question 21A manager can faithfully execute the decision-making process but still end up with nothing of value if ________.he fails to identify the correct problemhe fails to assign number values to different criteriahe solves the problem inefficientlyhe fails to correctly identify the steps of the process2 points Question 22In informal planning, goals are usually ________ shared with others in the organization.written, but little isunwritten and little iswritten and much isunwritten, but much is2 points Question 23Which of the following is synonymous with work specialization?division of laborjob discriminationchain of commandjob preference2 points Question 24Most managerial decisions include an element of risk.TrueFalse2 points Question 25The 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?0.7327 percent50 percent7.32 points Question 26A soap company that features a bath soap department, a laundry detergent department, and a dish soap department is using which of the following?process departmentalizationfunctional departmentalizationproduct departmentalizationcustomer departmentalization2 points Question 27Taco 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 strategycost leader strategylong-term strategydifferentiation strategy2 points (Extra Credit) Question 28Group decisions tend to provide more complete information than individual decisions.TrueFalse2 points Question 29Which three conditions do decision makers face?certainty, risk, uncertaintycertainty, uncertainty, confidencerisk, high risk, low riskcertainty, risk, high risk2 points Question 30Which 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 yearsto increase television revenues over the next 5 yearsto decrease payroll by 20 million over the next 2 yearsto average over 90 wins a year for the next 5 years2 points Question 31An internal analysis, the third step of the strategic management process helps identify ________.opportunities and threatsresources and capabilitiesopportunities and possibilitiesvalues and philosophy2 points Question 32Sticking to a decision despite evidence that it is a mistake is called ________.escalation of commitmentescalation of rationalitysatisficing commitmenterror enhancement2 points Question 33The first step in the six-step strategic management process is to ________.analyze the organization's strengths and weaknessesidentify the organization's missionidentify strategies to reach the organization's goalsanalyze the opportunities the organization has2 points Question 34Line authority gives a manager the ability to direct the work of ________.any employee in the firmany subordinateany subordinate, after consulting with the next higher levelonly subordinates one level down2 points Question 35Which of the following is NOT allowed in a brainstorming session?clear definition of the problemcriticism or dismissal of poor ideaslarge number of alternativesrecording of all alternatives2 points Question 36Which 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 37The personal secretary of a top manager may have ________.power but not authorityauthority but not powerpower and authorityline authority but not staff authority2 points Question 38One 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 biasself-serving biasavailability biasframing bias2 points Question 39In a condition of certainty, ________.most outcomes are knownthe decision is already madeall outcomes of all alternatives are knownsome alternatives are not known2 points Question 40In decision making, a problem can be defined as a discrepancy between what exists and what the problem solver desires to exist.TrueFalse2 points Question 41Individualistic countries like the United States tend to have ________ than group-oriented countries like Japan.more conformity and more cooperationmore conformity and less cooperationless conformity and more cooperationless conformity and less cooperation2 points Question 42Decisions, 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 solutionsidentify decision criteriaevaluate her decision's effectivenessidentify the problem2 points Question 43SWOT analysis identifies and analyzes an organization's ________.strengths, weaknesses, opportunities, and threatsstrategy for competing in the markethuman resource assetslong-term goals2 points Question 44Which of the following is NOT a function of planning?defining goalsidentifying a strategy for attaining goalssettling disputes between employeescoordinating organizational activities2 points Question 45A 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 alternativeidentification of decision criteriadevelopment of alternativesanalysis of alternatives2 points Question 46Taco 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?stabilityvertical integrationhorizontal integrationdiversification2 points Question 47State motor vehicle offices usually use this kind of departmentalization.productfunctionalcustomerprocess2 points Question 48A manager uses break-even analysis to find out how many units of a product he needs to sell to make a profit of zero.TrueFalse2 points Question 49An external analysis, the second step of the strategic management process, helps identify ________.the products that a company makesthe long-term goals of a companya company's opportunities and threatsa company's concern for its employees2 points Question 50A person who satisfices fails to ________.maximize his or her decisionunderstand his or her positionaccept the truth of a situationmake any kind of decision2 points Question 51Taco 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 integrationhorizontal integrationbackward vertical integrationforward diversification

 

Paper#53887 | Written in 18-Jul-2015

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