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MGMT 3050 EXAM QUESTIONS AND ANSWERS
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MGMT 3050 EXAM QUESTIONS AND ANSWERS
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MGMT 3050 EXAM QUESTIONS AND ANSWERSWhich of the following is NOT a way in which companies can utilize competencies to
increase
competitiveness in the market? - Answers- Product development
One important ingredient for living your purpose is learning, a curiosity and desire to get
better and better at doing what you love. - Answers- True
Jorge R. Canedo did which of the following? He... - Answers- followed his passion.
If a business has all elements of VRIO with regard to their product or service, they have
a temporary competitive advantage. - Answers- False
A product or service that is valuable but is not rare, has what is called Competitive
Parity. - Answers- True
When considering what it means to be a competent professional, we look at what is
commonly referred to as KSAs. KSA stands for what? - Answers- Knowledge, Skills,
and Abilities
The lessor the level of competence specificity provided in the the statement, the more
understandable, accessible, and predictable the competency will be with regards to its
criterion. - Answers- False
First line managers are those individuals who are responsible for short-term decisions. -
Answers- True
Top managers have to be goal-oriented and willing to deal with uncertain and
competitive conditions. - Answers- True
Every manager is an employee, but not all employees are managers - Answers- True
Most people begin their management career as a __________ manager. - Answers-
First Line
The key difference between an employee and a manager is - Answers- Formal
Authority
What does POLC stand for? - Answers- Plan, organize, lead, control
Managers are leading when they decide to pursue corrective action upon noticing lack
of progress - Answers- False
,Which management function requires the coordination of resources needed to achieve
organizational goals? - Answers- Organize
Which function of management requires monitoring progress towards organizational
goals? - Answers- Control
Planning function of management seeks input from people throughout the organization
in order to create a plan that will work for the organization as a whole. - Answers- True
Managers use the controlling function of management when they set an example that
makes workers want to achieve organizational goals, - Answers- False
Who developed the three types of roles that managers fulfill? - Answers- Henry
Mintzberg
Liaisons tend to _________ the work of managers in various departments. - Answers-
synchronize
A _____ responds to problems that require immediate attention. - Answers- disturbance
handler
A monitor does not actively seek out information - Answers- False
A manager that is in charge of handling customer complaints as they arise during the
workday is filling the role of: - Answers- Disturbance Handler
______________ can be responsible for advertising campaigns. - Answers-
Spokespeople
Who decides the distribution of organizational resources? - Answers- Resource
Allocator
A liaison links and coordinates groups both inside and outside the organization; they
frequently work with individuals outside their units. - Answers- True
Which of these are steps the reading material suggests a new manager should take
upon their arrival at a new company? - Answers- Reflect upon past mistakes in their
past
Meet with longstanding company employees to learn about the organization
Managers must be _____ in picking employees so that they can match the most
qualified employee with the job. - Answers- selective
Administrative Management is different from Scientific Management because of its
focus on the individual. - Answers- False
, According to Max Weber and his Principles of Bureaucracy, Authority is exercised most
effectively when positions are arranged hierarchically. Why is this? - Answers- So that
there is a chain of command and each employee knows where their responsibilities lie.
The key to effective Administrative Management is when the organization has: -
Answers- a hierarchical structure
An organization is producing a product or service that is missing one of the elements
from the VRIO framework, has a ________ . - Answers- temporary competitive
advantage
Match the following statements with their corresponding part of the competitive
advantage framework. - Answers- Delivering a product or service that is of real value to
the customer - Valuable
Delivering a product or service that is difficult to find - Rare
Innovating products or services that are not easy to imitate or duplicate - Imitable
Providing the product or service in a high quality fashion - Orginization
According to the text, all managers perform many of the same tasks and face many of
the same challenges. Select the choice below which is not mentioned by the text as
something all managers have in common. - Answers- Work Within a Limited Budget
Do managers that work in different types of organizations perform the same tasks? -
Answers- Yes, for the most part.
______ refers to a person's capability to exhibit certain behaviors that lead to a
predetermined result. - Answers- Ability
According to Fayol, the principle that all communications that must follow the chain of
command is called ______________. - Answers- Scalar Chain
Henri Fayol published his five functions and 14 principles of management. Fayol's five
functions management are all except one: - Answers- Authority
Henri Fayol created five functions of management, which are as follows:
Planning
Organizing
Commanding
Coordinating
Controlling
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