Executive MBA Principles of Management — practice questions
88 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice Executive MBA Principles of Management in the app →A store manager orders raw material every week using the same well-known criteria. This is a:A manager weighs whether to adopt a brand new technology with many unknowns. This is a:Mental shortcuts managers use to reach routine decisions quickly are called:Programmed decisions are also described as:Nonprogrammed decisions are also described as:The systematic decision-making process described has how many steps?The first step in that systematic process is to:After generating alternatives, the next step is to:The final step in that process is to:The idea that we cannot be fully rational because we cannot grasp all alternatives is:Choosing the first acceptable solution rather than hunting for the best one is:Paying more attention to information that supports what we already believe is:Time pressure in decision-making tends to push managers toward:Managers with more experience are better at decisions mainly because experience helps them:Only generating two options before choosing risks:Group members staying silent about concerns just to keep the peace is called:One group member deliberately taking the role of critic is playing the:The main advantage of involving a group in a decision is that it brings:A risk in group decisions is that one powerful member may:For routine decisions, the rules and criteria can be:A retail manager who always adds 30 percent staff for a big sale is using a:Deciding how many raw materials to order, given stock and expected production, is best treated as:The tool whose name stands for strengths, weaknesses, opportunities and threats is:A SWOT analysis is only as good as:The tool reminding managers to scan distinct categories of the macro environment is:The Harvard professor who developed the five forces tool is:The force placed at the centre of that five forces diagram is:Firms already competing in an industry are described as:A growing or very profitable industry is likely to attract:Factors that stop new firms from competing successfully in an industry are:Which of these can act as such a barrier?Any other product that satisfies the same customer need as the industry's offering is a:When using the five forces model, an analyst decides whether each force has an impact that is:Equipment, facilities, raw materials and employees a firm has to work with are its:The set of activities through which a firm turns inputs into something customers value is its:The tool used to assess whether a resource can give lasting advantage is:Under that tool, a resource gives competitive advantage when the answer to every question is:A firm offering a wide variety of products at prices below rivals is following:The strategy that is the exact opposite of that low-price approach is:Trying to combine those two strategies at once, Porter suggests, can leave a firm:A firm adding value that only a few customers will pay highly for is following a:The innermost circle of a firm's environment, holding its own members and investors, is the:Compared with the macro environment tool, the five forces tool examines the firm's:A car maker losing sales because young city dwellers stop buying cars faces a change in its:The process by which managers set goals and specify how they will be reached is:Plans are said to have two basic components: action statements and:Planning is described as being mainly what kind of activity?Managers are advised to treat planning as part of their:One stated reason managers plan is to offset:A study cited found absenteeism cost companies each year about:How many steps does the planning process described contain?The first step in that process is developing an awareness of the:The second step in that process is establishing:The third step, forming assumptions about the future environment, is called:In the fourth step, managers develop a statement detailing what needs to be done. That is the:The fifth step involves formulating plans that bolster and explain the basic plan. These are:Rules, policies and procedures, used repeatedly for recurring issues, are:Plans developed for unique situations and usually replaced after one use are:Which is one of the three types of that once-only plan?Controls used before work begins, to prevent deviation from the plan, are:Controls used after the product or service is finished, to examine output, are:Controls applied while the work is under way are called:Planning and controlling are described in effective organisations as being:Effective control systems rest, above all, on good:Plans that are placed on a shelf and never revisited show a failure to value:The push for continuous improvement in processes and products came in part from:The field that specialises in managing change, drawing on social science, is:The framework built on efficiency through structure, developed by Max Weber, is the:Organising people into subunits according to their expertise is called:The way people report to one another to coordinate their efforts is called:The breadth of the systems that must change within an organisation is called the:Change that is intentionally designed and purposefully implemented is:Change that is unintentional and usually comes from informal organising is:The psychologist who proposed one of the first models of change was:In that model, the first phase disrupts existing norms and routines. It is called:The final phase of that model, reinforcing the new norms, is called:That model assumes many people prefer an organisation that is:The widely used eight-step change model that fits mechanistic structures came from:The first step of that eight-step model is to establish a sense of:The second step is to form a powerful guiding:In the third phase, the manager and that group together create a:The fifth step, removing obstacles, is intended to reduce:The sixth step, creating small wins, works because it helps people see:The seventh step, consolidating improvements, rests on the idea that small changes:The last step of that model is to:The bottom-up, positive, abundance-based approach to change is called:The scholar who developed that positive approach at Case Western Reserve University was:In that approach, the primary mechanism for helping people create new narratives is: