Functions and Activities of Management Review Answer Key Part 4

Select four groups that make up the task environment. Multiple select question. Owners Board of directors Local communities Distributors Strategic allies Government regulators A company's external environment consists of which two environments? Multiple select question. task general internal service Those who pay to use an organization's services or to buy their goods are called ______. Multiple choice question. customers suppliers shareholders stakeholders Four restaurants that are all seeking to attract the same customers would be categorized as _____. Multiple choice question. customers suppliers distributors competitors Suppliers are people or organizations that Multiple choice question. provide raw materials, services, equipment, labor, or energy to other organizations. compete for an organization's customers, employees, or resources. pay to use an organization's goods or services. The eleven groups that present a company with its daily tasks to handle represent the company's _____ environment. Multiple choice question. managerial behavioral task internal Customers are the element of an organization's task environment who Multiple choice question. help the organization sell its goods and services. compete for employees and other resources. pay to use the organization's goods or services. provide raw materials, services, and labor to the company. A distributor is sometimes referred to as a(n) Multiple choice question. customer middle man ally associate The people or organizations that vie with your company for customers or resources are known as _____. Multiple choice question. competitors stakeholders suppliers regulators Two or more organizations that join forces in order to achieve advantages that neither can perform as well alone are known as _______. Multiple choice question. strategic allies internal stakeholders distributor-suppliers special-interest groups An employee organization that represents hourly workers as opposed to salaried employees is called a(n) ______. Multiple choice question. supplier competitor union distributor Local communities are important organizational stakeholders. In fact, if a community gives a company tax breaks in return for the promise of new jobs and the firm fails to deliver those jobs, the community may be able to institute a _____ and rescind the tax breaks. Multiple choice question. union clawback proprietorship takeback A person or an organization that helps another organization sell its goods and services to customers is called a(n) Multiple choice question. vendor. supplier. distributor. internal stakeholder. When companies link up with one another in order to realize certain advantages, they are known as strategic _____. Multiple choice question. allies franchisees proprietors unions Recent trends show that the percentage of the labor force represented by unions has _____. Multiple choice question. remained constant increased decreased True or false: Local communities can be affected greatly by the entrance or exit of large businesses. True false question. True False Which of these organizations are considered special-interest groups? Choose all that apply. Multiple select question. The Securities and Exchange Commission People for the Ethical Treatment of Animals GEICO Auto Insurance Mothers Against Drunk Driving An organization's macroenvironment is also known as its _____ environment. Multiple choice question. fixed external general internal Which of the following economic forces within a company's general environment affect the company's performance? (Select all that apply.) Multiple select question. The unemployment rate The profits of the company Bank interest rates Product prices _____ groups try to influence specific issues, some of which may affect your organization. Multiple choice question. Government regulator Financial institution Special-interest Labor union Which of these are forces within an organization's general environment? Multiple select question. Technological Political-Legal Sociocultural Economic Demographic Physical International New developments in methods for transforming resources into goods or services are called _______ forces. Multiple choice question. economic technological sociocultural demographic A(n) _____ force represents the influences and trends originating in the human relationships of a society that may affect industries. Multiple choice question. demographic economic sociocultural technological _____ forces consist of conditions such as unemployment, inflation, interest rates, and economic growth that may affect an organization's performance. Multiple choice question. Economic Sociocultural Demographic Technological Bio-Med Laboratories recently announced it had produced a new medication that would mitigate arthritis symptoms. This new medication is an example of a(n) _____ force. Multiple choice question. sociocultural economic demographic technological Sociocultural forces are defined as Multiple choice question. general economic conditions and trends that may affect an organization's performance. new developments in methods for transforming resources into goods or services. influences and trends originating in a country’s, a society’s, or a culture’s human relationships and values that may affect an organization or industry. influences on an organization arising from changes in the characteristics of a population, such as age, gender, or ethnic origin. Diversity in the US workforce is increasing in terms of race, ethnicity, and age groups. These are all examples of _____ forces. Multiple choice question. political-legal demographic economic technological A(n) _____ dilemma is a situation in which you have to decide whether to pursue a course of action that may benefit you or your organization but that is unethical or even illegal. Multiple choice question. ethical economic social sociocultural An organization's standards of right and wrong that influence employee behavior are referred to as _______. Multiple choice question. ethics morals rights unions Behavior that is accepted as proper according to a society's prevailing values is known as _______ behavior. ethical standard delinquent purposeful Which of the following are examples of demographic forces that can affect an industry? (Check all that apply.) Multiple select question. A decline in population size A rise in church attendance A decrease in marriage rates An increase in interest rates A decrease in global sales Which of the following are true of an ethical dilemma in an organization? (Select all that apply.) Multiple select question. It forces you to decide whether to pursue a course of action that may be good for you or the company but that is unethical and possibly illegal. It often involves choosing between economic performance and social performance. It always involves the choice to pursue a course of action that is against the law but that is also beneficial to you. A manager's responsibility to take actions that benefit both society and the business is known as _____ responsibility. value social demographic external According to Archie B. Carroll, the responsibilities of an organization can be arranged as a pyramid, with _____ at the base and _____ at the top. Multiple choice question. ethical practices; obeying the law corporate citizenship; profit making a profit; corporate citizenship corporate citizenship; ethical practices True or false: Ethical standards do not vary among countries or cultures. True false question. True False Ethical behavior is defined as behavior that is: Multiple choice question. accepted as < right= as opposed to < wrong= according to prevailing ethical standards not allowed by organizational policy, but passively accepted in the organization allowed by the law Running a company and protecting the interests of owners and other stakeholders is known as _____. Multiple choice question. natural capital corporate governance philanthropy corporate social responsibility _____ forces are influences on an organization arising from changes in the characteristics of the population, such as age, gender, or ethnic origin. Demographic Sociocultural Economic The _______ process helps us to cope with uncertainty by formulating future courses of action designed to help achieve specified results. management strategy planning assessment Today, it is stressed even more that companies go beyond just making a profit and take into consideration the environment and philanthropic initiatives. This is known as practicing ______. Multiple choice question. benchmarking corporate social responsibility whistle-blowing association economies of scale Place the following obligations of a corporation (as identified by Archie B. Carroll) in order, starting with the highest-level responsibility at the top of the list and placing the most fundamental obligation at the bottom of the list. Corporate _______ is the system of company oversight designed to ensure that the interests of owners and other stakeholders are protected. Multiple choice question. governance administration regulation supervision The document that details how a company's goals are to be met is called a(n)_____. Multiple choice question. vision investment mission plan A business plan is a document that outlines Multiple choice question. a firm's resources or capabilities along with their competitive strategic potential. the need the firm will fill, the operations of the business, and its expected revenues and expenses. a proposed firm's goals, strategy for achieving them, and standards for measuring success. the organization's long-term goals and direction. A firm's business _______ should include a description of the need the firm will fill, the operations of the firm, its components and functions, and the expected revenues and expenses. Multiple choice question. statement strategy plan model A company's strategy can best be described as a(n) _______ about what long-term goals or direction to pursue for the survival or prosperity of the organization. Multiple choice question. after thought placeholder shot in the dark educated guess A document that outlines a proposed firm's goals, its strategy for achieving those goals, and the standards for measuring success is known as a _______. Multiple choice question. vision statement SMART goal mission statement business plan True or false: One reason a company might create a bad strategic plan is because they make incorrect assumptions about what will happen in the market going forward. True false question. True False The purpose of _____ is to set goals and decide on the courses of action that will be used to achieve them. Multiple choice question. organizing planning leading controlling