1. Sony Corporation corrected multiple mistakes in creating Blu-ray it made with the Betamax
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2. During the Industrial Revolution jobs were carried out in small organizations rather than large shops.
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3. Primary Shareholders include employees suppliers governments and local communities which are groups the organization depends for its survival.
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4. Getting work done through others is management.
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5. Resource scarcity is the increase of critical resources in an organizations external environment
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6. There are less than five steps in the strategy-making process.
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7. Society conforming to accepted principles of what is right and wrong is ethical behavior.
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8. Valuable and rare are components for sustainable competitive advantage.
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9. The Right to advise others who are not subordinates in the chain of command is Line Authority
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10. Efficiency is accomplishing tasks that help fulfill organizational objectives
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11. Socially Responsible companies are guaranteed to be successful
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12. Vision and mission are two key management pieces for Top Managers
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13. The most compelling benefit of planning is that it has been proven to work for both companies and individuals.
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14. Sustainable Competitive Advantage means all resources must be rare valuable and nonsubstitutable & perfectly imitable.
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15. First-level managers implement and create single-use plans standing plans & operational plans
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16. During discontinuous change companies should not find ways to anticipate and survive technological change
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17. Tariffs are imposed on Ford vehicles imported from a European plant
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18. Free trade agreements create new business opportunities without competition increasing
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19. Empowering employees is a good way of increasing productivity and employees feeling competent
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20. Quantitative factors have no absolute numeral associated; rather a value can be assigned when compared to others
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Multiple Choice Choose an appropriate response by placing the answers letter in the blank.
There is only one correct answer for each question. 2 Point Each
21. A management function that determines organizational goals & a means for achieving them
a. Pairing
b. Planning
c. Preparing
d. Prepping
22. Characteristics of External Environments consist one of the following
a. Environmental Norms
b. Environmental Simplicity
c. Resource Scarcity
d. Certainty
23. Intensified effort persistence and direction are all benefits for
a. Partnering
b. Packing
c. Praying
d. Planning
24. Gordons Foods Supply (GFS) is considered what to Mr. Burger
a. Secondary Stakeholder
b. Primary Shareholder
c. Primary Stakeholder
d. Secondary Shareholder
25. A S.W.O.T. is made up of these except one
a. Strengths
b. Weaknesses
c. Opportunities
d. Terrors
26. The technology industry has which type of environmental change
a. Dynamic
b. Steady
c. Stable
d. Consistent
27. Contributed the theories of strategy and identifying & attacking opponents weaknesses
a. Cato
b. Machiavelli
c. Sun Tzu
d. Venetians