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Exam 1: Management

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Question 61

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After the death of her husband,Miriam McAllister became the CEO of a company that is the world's leading manufacturer of kidney dialysis machines.Even though she was not expected to,she was quick to ask company employees to develop ideas for new products that would lead to organizational growth in a changing environment.What decisional role did McAllister assume?

A) leader
B) disseminator
C) resource allocator
D) entrepreneur

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

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Question 62

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Team leaders direct the work of individuals within the team structure.

A) True
B) False

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Question 63

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The job of team leader is a management position.

A Fortune 500 management consulting firm conducts Project Management Preparatory Academies for its clients in which participants spend 70 hours learning how to create a differential competitive advantage through their employees.Which of the following most likely accounts for the participants' interest?

Designers such as Marimekko and Marant partnered with Swedish retailer Hennes & Mauritz to sell an affordable line of exclusively designed high-fashion clothing.Hennes & Mauritz will take responsibility for manufacturing and marketing the clothes.What management function guided the alliance between the designer and the retailer?

Who is typically responsible for creating a positive organizational culture through language and action?

Narrative 1-2 In April 2103, Volkswagen reported a net profit increase of 41 percent. While the future looks bright for VW today, it was not always so. In August 2005, VW's past chief executive officer, Bernd Pischetsrieder, announced another restructuring plan for the company. VW is Europe's largest carmaker and needed to make itself profitable once again. To do so, VW cut thousands of jobs through natural attrition, early retirement, and buyouts of worker contracts. The carmaker also reviewed its component parts factories in Brunswick, Kassel, and Wolfsburg to help it accomplish its organizational goal. Pischetsrieder blamed much of the company's problems on restructuring that was done in 1993. He insisted that the company missed a whole generation of managers because its former CEO eliminated a whole management layer. As a result, 45 percent of the managers at that time went into retirement over the following three to four years. -Refer to the Narrative 1-2.Which of the following management functions is most involved in deciding how to replace retiring managers?

Narrative 1-3 From the start, Amazon.com has been in a hurry to be a success. According to company founder and chief executive officer (CEO) Jeff Bezos, "Our initial strategy was very focused and very unidimensional. It was GBF: Get big fast." With billions to spend from its initial stock offering (Amazon's stock quickly rose to over $100 per share) , Amazon spent $400 million to build eight high-tech warehouses across the country. Each was capable of shipping 60 million items per year, and Amazon needed to control the entire buying transaction, beginning with online ordering, proceeding to quick warehouse handling and boxing, and ending with timely shipping and delivery. Unfortunately, Amazon grew so fast that it soon lost control of the basics. Amazon burned money so quickly that it had to issue bonds to raise another $2.2 billion to keep the company running. Still, it had only enough business and cash to run six of those new warehouses. Consequently, the company took a $400 million loss to close two of the warehouses and lay off 1,500 people. Furthermore, the six remaining warehouses were poorly run. Defective products, which should have been returned to manufacturers, sat on the shelves wasting space. Mystery orders kept showing up. Instead of declining the deliveries, workers put whole truckloads of unordered items on the shelves. Amazon had so much unsold inventory in its warehouses that CEO Bezos sent out an e-mail with a point-blank message, "Get the crap out." Amazon's problem was not its sales, which were growing exponentially, but rather in poor management. As a result, its stock, once valued at over $100 per share, dropped to a low of $6. Amazon has lost more than $3 billion since its inception. As for profits, founder Bezos cautioned patience. In the year that Amazon reported its first quarterly profit, that profit amounted to only $5 million on $1.12 billion in sales in its fourth quarter, and Amazon still lost $45 million for the year. Furthermore, it still has long-term debt of $2.2 billion to pay off at the rate of $120 million per year. Results like these would have cost any other CEO their jobs. If Amazon is ultimately to survive and be profitable, what does it need to do to become a more efficiently run company? -Refer to the Narrative 1-3.Which traditional management function was key in achieving the goal of getting rid of thousands of dollars' worth of unsold inventory?

As the shift supervisor at a car wash,Jakob is bossy,arrogant,and insensitive to the needs of his subordinates.He is unable to delegate any tasks to the other employees.Why will he more than likely never become a middle or top manager?

Companies look for a total of four sets of skills in individuals to identify potential managers.These desired skills are technical skills,human skills,conceptual skills,and the motivation to manage.

Which of the following responsibilities would be typical of a team leader in business?

According to Henry Mintzberg,which role would a manager assume if trying to convince union members to accept a 25-cent-per-hour reduction in pay in order to keep the manufacturing plant open?

Stan Dali was the most successful salesperson his realty company had ever hired.Although quickly promoted to sales manager,he was never able to reach any higher levels of management because he bullied his employees.Which type of manager is Dali an example of?

Which of the following tasks are first-line managers most likely to perform?

Who in a police department is typically responsible for determining which police officers will work overtime?

To achieve its goal of increased market share,a coffee and donut shop launched a program in London,Ontario,that awards grade-school students a free donut for every "A" on their report cards.What management function was used to create this program?

Habitat for Humanity founder Millard Fuller was forced into assuming a figurehead role after hiring a new managing director.What did Fuller most likely do in this new role?

The number one mistake made by managers who were "derailed" from their fast-track movement up the managerial ranks was that they didn't develop the necessary technical skills.

After the death of her husband,Miriam McAllister became the CEO of a company that is the world's leading manufacturer of kidney dialysis machines,and she encouraged its expansion into other hospital services.McAllister has almost doubled her company's revenues since she took control.Consider the studies of managers who fail (derailers) and managers who climb the organizational hierarchy (arrivers) .What quality did McAllister,as an arriver,likely exhibit?

What is the term for getting work done through others?