MGMT 303 FINAL EXAM ANSWERS

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MGMT 303 Final Exam Answers

1.

(TCO1) When the dean of the college of business downsized the college from
five departments to four departments, the dean primarily was performing the
____ function of management. (Points : 2)

2.

(TCO 2) State supported universities receive money from state tax payers.
Harvard Universitys endowment is so large that Harvard is guaranteed
significant income just from the interest the fund generates. The ____ dimension
of these competitors is different. (Points : 2)

3.

(TCO 2) The expiration of a pharmaceutical drug patent allows generic drug

makers to introduce the same chemical compound under a different name and
at lower prices. This is an example of ____ for the developer of the original drug.
(Points : 2)

4.

(TCO3) New York passed a law requiring no smoking in bars and restaurants.
Owners who pressure bartenders and waiters to sell to people who are smoking
in order to keep profits high are taking a(n)____ stance toward social
responsibility. (Points : 2)

5.

(TCO4) Coca-Cola is based out of Atlanta but reaches into hundreds of

countries. The product is locally packaged, but the cola inside is essentially the
same throughout the world. Coca-Cola is edging closer to being a(n) ____
business. (Points : 2)

6.

(TCO4) The growth of multinational corporations has left little room for
distinction. Any perceived competitive advantage is quickly copied. However, an

area for competitive advantage remains in the level of ____ organizations

attract, motivate, and retain. (Points : 2)
7.

(TCO5) The ____ of Applebees is to gain weekly repeat guests through

providing surprisingly friendly hospitality, superior quality food, and world class
service and value. (Points : 2)

MGMT 303 Principles of Management Final Exam Set 2

1.

(TCO1) A CEO of a local newspaper has noticed that the advertising and
subscription revenue has been decreasing. The CEO sets a goal of stopping the
decline. The CEO is engaged in

2.

(TCO 2) State supported universities receive money from state tax payers.
Harvard Universitys endowment is so large that Harvard is guaranteed
significant income just from the interest the fund generates. The ____ dimension
of these competitors is different.

3.

(TCO 2) The expiration of a pharmaceutical drug patent allows generic drug

makers to introduce the same chemical compound under a different name and
at lower prices. This is an example of ____ for the developer of the original drug.

4.

(TCO3) New York passed a law requiring no smoking in bars and restaurants.
Owners who pressure bartenders and waiters to sell to people who are smoking
in order to keep profits high are taking a(n)____ stance toward social
responsibility.

5.

(TCO4) Coca-Cola is based out of Atlanta but reaches into hundreds of

countries. The product is locally packaged, but the cola inside is essentially the
same throughout the world. Coca-Cola is edging closer to being a(n) ____
business.

6.

(TCO4) Eric, an American, is an executive coach at Boeing. One of the

executives he coaches is from India. Their diverse backgrounds add variety and

create more solutions for management challenges. This illustrates the ____
argument.
7.

(TCO5) The ____ of Applebees is to gain weekly repeat guests through

providing surprisingly friendly hospitality, superior quality food, and world class
service and value.

8.

(TCO5) GE competes in industries ranging from medical devices to

appliances to television networks. GEs mixed strategy is an example of ____
strategy.

9.

(TCO6) Jay wants to start a new business. With which of the following
methods of starting a new business will he pay a share of the income from the
business in return for the use of such things as trademarks and business
formulas?

10.

(TCO7) Sears has departments for clothing, tools, jewelry, and home goods.
This is an example of departmentalization by

11.

(TCO7) Andrea had worked in the marketing department for 27 years. She
knows the history and successes of the office better than any other employee.
When change is suggested, she is reluctant because she remembers
accomplishments related to the current way of doing things. As a result of ____,
she is resistant to change.

12.

(TCO8) Fairway Green Inc. has added a lucrative retirement plan for its
employees that includes medical benefits for retirees. These benefits target
which level of need in Maslows hierarchy?

13.

(TCO8) A mid-level manager has power within an organization due to the

management position she occupies. This kind of power is known as ____ power.

14.

(TCO9) You are a member of a self-managed team; the team has been
experiencing interpersonal conflict among its members. Which of the following
techniques could you use to eliminate the interpersonal conflict that is occurring
within the self-managed team?

15.

(TCO10) The credit crisis and the Federal Reserves response to it faced
criticism from Congress. The Treasury Department requested a review of the

central banks structure and governance. There is now broad support for
auditing the Fed using the Government Accounting Office. The change in the
economic and political environment of the Fed means the Fed needs to adapt its
____ control.

MGMT 303 Principles of Management Final Exam Set 3

1.

(TCO1) Discuss the functions of management. Which function of

management is the most important? Support your answer.

2.

(TCO2) In order to be effective and efficient, CEOs must monitor both the
internal and external environments. Is it more important for the CEO to monitor
the organizations external or internal environment? Why?

3.

(TCO3) You have recently been assigned as the ethics officer for your
organization, as part of your responsibilities you have been asked to write a
code of ethics. Discuss the three areas of special concern for managerial ethics
that you will need to address specifically in the code of ethics.

4.

(TCO4) There are several characteristics that an organization needs to

possess to be considered a multicultural organization. Describe what a
multicultural organization will look like using these characteristics.

5.

(TCO5) Discuss a time in your professional or personal life when you had to
implement a reaction plan. How did that plan differ from a contingency plan?

6.

(TCO6) If you were considering starting you own business, what are the four
major types of information would you include in your business plan?

7.

(TCO7) Define the term reengineering. Discuss why an organization might

need to engage in it.

8.

(TCO8) Briefly explain what is meant by objective and judgmental

performance evaluation. Discuss two methods of judgmental evaluation.

9.

(TCO9) As a manager, in what types of situations should you use written

communication? Briefly discuss the reasons why written communication would
be best in these situations.

10.

(TCO10) In your opinion, which two characteristics of effective controls are

the most important? Why?

11.

(TCO2) Compare and contrast the sociocultural and the political-legal

dimensions of the general environment, with particular attention to how forces
in one could affect the other.

12.

(TCO3) Discuss the notion of social responsibility. Discuss how an

organization is impacted when its adopts socially responsible practices.

13.

(TCO4) Assume you accepted a transfer with your company to move

overseas as a manager within the companys new international division. Discuss
the general environmental challenges of international management that you will
face in the global environment that you did not face in the domestic
environment?

14.

(TCO5) The CEO of your organization has developed two potential plans to
help the organization cut costs. The CEO has asked you to form a group; the
members of the group are to represent a cross-section of all the departments
within the organization. The goal of the group is to discuss and decide which of
the two proposed plans you should implement ..

15.

(TCO5) Describe the job characteristics approach to job design and explain
how it is related to job enrichment and the creation of work teams.

16.

(TCO8) Phil W. supervises a group of very competent workers. These

employees are involved in a routine task, and the company has written
standard operating procedures to cover most of the operation. Phil is trying to
decide what leadership style..?

17.

(TCO9) You are the plant manager at Acme Plastics. You are running two
shifts, a day shift and an evening shift. Before the day shift leaves each day, the
workers must get an adequate supply of raw materials from the warehouse for

the evening shift to use. On several occasions, they have failed to do so. By the
time the evening shift gets to work,..?

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MGMT 303 Final Exam Solution