14FABUS300350 PRIN OF MGT

• Question 1

2 out of 2 points

Decision makers who "cherry-pick" information that matches what they already know are guilty of confirmation bias.

Selected Answer:

• Question 2

2 out of 2 points

Which of the following is the most effective number of people to have in a group?

Selected Answer:

• Question 3

2 out of 2 points

In forward vertical integration, a company becomes its own ________, while in backward vertical integration, the company is its own ________.

Selected Answer:

• Question 4

2 out of 2 points

A sneaker company creating its own stores where it sells only its own brand is an example of which of the following?

Selected Answer:

• Question 5

2 out of 2 points

Which of the following is a frequently cited criticism of formal planning?

Selected Answer:

• Question 6

2 out of 2 points

Functional departmentalization groups jobs by ________.

Selected Answer:

• Question 7

0 out of 2 points

Which of the following is used exclusively to generate creative ideas in a group setting?

Selected Answer:

• Question 8

0 out of 2 points

When a top manager decides to hire an individual over the objections of her staff, she is exercising which kind of power?

Selected Answer:

• Question 9

0 out of 2 points

Groups decisions are usually ________ individual decisions.

Selected Answer:

• Question 10

2 out of 2 points

In the chain of command, each person above you ________.

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• Question 11

0 out of 2 points

Emotions and feelings ________ decision making.

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• Question 12

2 out of 2 points

Liquidity is a measure of an organization's ability to access cash to meet its debt obligations.

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• Question 13

2 out of 2 points

When dealing with international organizations, managers must be ________ in order to accommodate the managing styles of different cultures.

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• Question 14

2 out of 2 points

A bank manager who passes out bonuses at the end of the year is exercising this.

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• Question 15

2 out of 2 points

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?

Selected Answer:

• Question 16

2 out of 2 points

The chain of command answers this question.

Selected Answer:

• Question 17

2 out of 2 points

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?

Selected Answer: implementing the alternative

• Question 18

2 out of 2 points

In a decision tree, which of the following is true?

Selected Answer:

• Question 19

2 out of 2 points

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.

• Question 20

0 out of 2 points

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?

Selected Answer:

• Question 21

2 out of 2 points

A manager can faithfully execute the decision-making process but still end up with nothing of value if ________.

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• Question 22

2 out of 2 points

In informal planning, goals are usually ________ shared with others in the organization.

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• Question 23

2 out of 2 points

Which of the following is synonymous with work specialization?

Selected Answer:

• Question 24

2 out of 2 points

Most managerial decisions include an element of risk.

Selected Answer:

• Question 25

2 out of 2 points

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?

Selected Answer:

• Question 26

2 out of 2 points

A soap company that features a bath soap department, a laundry detergent department, and a dish soap department is using which of the following?

Selected Answer:

• Question 27

0 out of 2 points (Extra Credit)

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 ________.

Selected Answer: cost leader strategy

• Question 28

0 out of 2 points

Group decisions tend to provide more complete information than individual decisions.

Selected Answer:

• Question 29

2 out of 2 points

Which three conditions do decision makers face?

Selected Answer:

• Question 30

2 out of 2 points

Which of the following is an example of a strategic goal for a professional baseball team?

Selected Answer:

• Question 31

2 out of 2 points

An internal analysis, the third step of the strategic management process helps identify ________.

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• Question 32

2 out of 2 points

Sticking to a decision despite evidence that it is a mistake is called ________.

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• Question 33

2 out of 2 points

The first step in the six-step strategic management process is to ________.

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• Question 34

2 out of 2 points

Line authority gives a manager the ability to direct the work of ________.

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• Question 35

2 out of 2 points

Which of the following is NOT allowed in a brainstorming session?

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• Question 36

2 out of 2 points

Which statement accurately defines work specialization?

Selected Answer:

• Question 37

0 out of 2 points

The personal secretary of a top manager may have ________.

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• Question 38

0 out of 2 points

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) ________.

Selected Answer:

• Question 39

0 out of 2 points

In a condition of certainty, ________.

Selected Answer:

• Question 40

2 out of 2 points

In decision making, a problem can be defined as a discrepancy between what exists and what the problem solver desires to exist.

• Question 41

0 out of 2 points

Individualistic countries like the United States tend to have ________ than group-oriented countries like Japan.

Selected Answer:

• Question 42

2 out of 2 points

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 ________.

Selected Answer:

• Question 43

2 out of 2 points

SWOT analysis identifies and analyzes an organization's ________.

Selected Answer:

• Question 44

2 out of 2 points

Which of the following is NOT a function of planning?

Selected Answer:

• Question 45

2 out of 2 points

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?

Selected Answer:

• Question 46

2 out of 2 points

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?

Selected Answer:

• Question 47

2 out of 2 points

State motor vehicle offices usually use this kind of departmentalization.

Selected Answer:

• Question 48

2 out of 2 points

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.

• Question 49

2 out of 2 points

An external analysis, the second step of the strategic management process, helps identify ________.

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• Question 50

2 out of 2 points

A person who satisfices fails to ________.

Selected Answer:

• Question 51

2 out of 2 points

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 ________.

Selected Answer: