FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 7: Management and Leadership

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 81

Multiple Choice

Review LaterAdd Note

Review Later

include dealers, who buy products to sell to others, and ultimate customers who buy products for their own personal use.

A) End users
B) External customers
C) Internal customers
D) Distribution centers

E) A) and B)
F) A) and C)

Correct Answer

verified

Show Answer

Question 82

True/False

Review LaterAdd Note

Review Later

In the control process, performance standards should be stated in general terms in order to give management as much flexibility as possible.

A) True
B) False

Correct Answer

verified

Show Answer

Question 83

True/False

Review LaterAdd Note

An analysis of the business environment helps managers identify threats and opportunities that face their firm.

Management carries out of the vision created by leadership.

Identify and define the four key functions of management.

Mini-Case Lauzy Fare left his position as senior vice president at Blue Skies Electronics a few weeks ago to become the new CEO of Idle Time Gaming. Before joining the new company, Lauzy spent time studying Idle Time's competitive position and talking to employees in all divisions and at all levels of the organization. Based on his findings, Lauzy believes that Idle Time has potential, but also faces some serious challenges if it expects to grow. Lauzy found that when confronted by him, most of Idle Time's professional employees seemed almost afraid to express their opinions. He learned that Otto Craddick, the previous CEO and founder of the company viewed himself as the boss, and, as such, micromanaged every aspect of the business. This discouraged employees from using their own initiatives and ideas to solve problems. For example, Otto required sales and service representatives to get his approval before they made any major commitments to customers. Otto's policy prevented the organization from responding quickly to customer requests, so sales were lost. Unlike his predecessor, Lauzy believes it is important for sales and service personnel to be able to deal with many types of customer requests without needing approval from top management. He is confident that giving employees the authority and flexibility to deal with customers, and providing them with the training and resources to help them do so, will improve morale within the company, create customer satisfaction, and grow revenues. Lauzy also wants to make workers throughout the organization feel more appreciated. He plans to continue meeting with them on a regular basis to seek their advice. He hopes his work colleagues will eventually respond to his leadership style. He has already encouraged middle managers to get employees more involved in decision-making, and has suggested some problem solving techniques the managers could try. Although he thought that changing the rigidity of the company culture would be his first challenge at the new firm, Lauzy quickly realized that there were no standards in place to measure the progress of changes in internal morale, customer satisfaction, and profitability. He has asked managers in those departments to spend more time setting performance standards and then monitoring actual performance. Lauzy is confident that in a relatively short period of time internal changes will lead to good company performance. As a member of top management, Lauzy performs a variety of important tasks. -Which of the following statements best describes the relative importance of the various types of skills Lauzy will use to perform these tasks? The tasks Lauzy performs will require:

Managers must lead by doing, not just by saying.

are specific, short-term, measurable results an organization wants to achieve in order to fulfill its long term goals.

Pro Fit, Inc., a maker of men's sportswear, has just reported a record profit. This proves that the firm is successfully achieving its goals.

Two of the key components of the control process are setting clear performance standards and communicating results and deviations to the employees involved.

Ricardo works as a department head at Barnes Hospital. His job requires Ricardo to spend most of his time training and coaching employees to perform their jobs more effectively and teaching other managers to be better leaders. Ricardo's job requires him to make full use of his:

Because of the threat of terrorism, the workplace is changing from an environment in which all employees work together to accomplish common goals to an environment in which a leader dictates the rules to others.

After thirteen years as a laborer for Hendrix Construction, Jimmy was promoted to the position of foreman. He is directly responsible for assigning various jobs to his work crew and evaluating their performance on a daily basis. Jimmy is now a member of:

The further up the managerial ladder a person moves, the his or her original job skills become.

Researchers have determined that all effective leaders have similar traits.

When all is said and done, financial standards such as profit and return on investment are the only relevant measures of how well a firm is meeting its goals.

Contingency planning involves developing alternative courses of action to be used if the primary plans do not achieve the desired results.

When controlling, it is advisable to set performance standards that exceed what workers can actually achieve, because setting lofty goals encourages workers to put forth a maximum effort.

Instead of creating detailed strategic plans, the leaders of market-based companies (companies that respond quickly to environmental changes) set flexible directions so as to allow for change and seize opportunities when they come.

Because of advancements in technology, managers now have an easier time obtaining long-term commitments from workers.