PRINCIPLES OF MANAGEMENT MIDTERM EXAM QUESTIONS

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PRINCIPLES OF MANAGEMENT MIDTERM EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

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-Guarantee passing score -100 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: The ________ is an organization of 189 member countries that promotes international monetary cooperation and provides advice, temporary loans, and technical assistance to establish and maintain financial stability.

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IMF Question 2: After looking at several copiers, Andrew decides to buy one. He knows other models might be available elsewhere, but he doesn't have time to keep looking, and the one he is buying seems to meet his needs. This is an example of ________.

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satisficing Question 3: Which of these environments do most managers prefer if given a choice?

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An environment with lower levels of uncertainty Question 4: Which of the following is more essential to higher level managers than to lower level managers?

Answer:

Conceptual skills

Question 5: The gap between an existing state and a desired state is referred to as ________.

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a problem Question 6: Alberto is a manager who tends to think he knows more than he does. He is most likely exhibiting ________.

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the overconfidence bias Question 7: The data-driven, systematic use of the best available facts and information to improve management practice is referred to as ________.

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evidence-based management (EBMgt) Question 8: The law of comparative advantage supports the ________ argument regarding international trade and globalization.

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every country wins Question 9: Target refers to its customers as "guests" and its employees as "team members." This is an example of how the company uses ________ to reinforce its organizational culture.

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language

Question 10: What is the first step in the decision-making process?

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Identify a problem Question 11: A sign in the college bookstore states that students can return a textbook only if it is still shrink-wrapped and returned within the first 10 days of the semester. This is an example of a(n) ________.

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rule

Question 12: From a broad perspective, organizational environments differ based on their degree of _____.

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uncertainty Question 13: In order to make exchanges or returns at a clothing retailer, customer service representatives must follow an established series of steps, such as checking the receipt, inspecting the item for damage, and issuing a store credit. This is an example of a(n) ________.

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procedure

Question 14: Which statement about studying management is most likely true?

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Management is universally needed in all organizations.Question 15: According to the ________ view of management, managers have limited control and influence over the organization's success or failure.

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symbolic Question 16: Russ, a senior manager in an engineering firm, strongly believes that a manager decides his organization's future and has a plaque on his wall that reads, "I am the master of my fate." What view of management does this reflect?

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Omnipotent

Question 17: To improve your political skills at work, you should ________.

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gain control of organizational resources Question 18: Which of the following best illustrates a company with a strong organizational culture?

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Organizational goals and values are clear and widely accepted.

Question 19: Instead of identifying and evaluating alternatives with logic and deductive reasoning, a manager using ________ would try to envision and entertain new and innovative solutions to a problem.

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design thinking Question 20: Which of the following is a global organization of more than 150 countries that deals with the rules of trade among nations?

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WTO Question 21: A narrow view in which people see things solely through their own eyes and perspectives is known as ________.

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parochialism Question 22: Which of the following managers is using big data in decision making?

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A large retailer uses software to adjust prices in real time for more than 70 million items based on demand and inventory.Question 23: Zappos has a monthly ceremony in which it recognizes a member of its development content team with a "Super Awesome Description Award." This is an example of which element of organizational culture?

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Rituals Question 24: RVA Electronics has facilities worldwide. Instead of orienting itself toward either the host country or the home country, top managers select managers for assignments based on their skills and abilities, rather than their nationality or location. This reflects ________.

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a geocentric attitude Question 25: Cindy's Creations is a small producer of decorative napkins, placemats, and other tableware. Although all of the products are produced domestically, Cindy's Creations sells worldwide through its website. This is an example of ________.

Answer:

exporting