PRM Exam 1 Questions and Answers All Correct

PRM Exam 1 Questions and Answers All Correct *What are the three questions Christensen thinks his students should find the answers for to measure their life? - Answer-1) How can I be sure that I"ll be happy in my career? 2) How can I be sure that my relationships with spouse/family become an enduring source of happiness? 3) How can I be sure I'll stay out of jail? *According to Frederick Herzberg, what are the powerful motivators in our lives? What does he say is not a powerful motivator? - Answer-Opportunity to learn, grow in responsibilities, contribute to others, and be recognized for achievements Money *What does Christensen say pepole need to keep "front and center" when deciding "how to spend their time, talents, and energy?" - Answer-Purpose of your life *What does Christensen say is one of the major root causes of business disasters? - Answer-Predisposition toward endeavors with immediate gratification *Is it easier to hold to your principles all of the time vs less than all of the time? - Answer-All of the time (if say one time won't hurt, pretty soon you'll do it all the time) *What was a characteristic of humble people that Christensen noted? - Answer-High self-esteem *The first test of a good manager is profit maximization: T or F - Answer-F *A synonym for planning is forecasting: T or F - Answer-F *The more alternatives one considers, the greater likelihood of finding the correct one: T or F - Answer-T *The essential steps in the function of directing are: a. order giving and supervising b. leadership, motivation, and communication c. both of the above - Answer-C *The essential premise of organization is: a. division of work b. leadership c. individual intiative - Answer-A *If one is given responsibility, one must also be given: a. alternatives b. authority c. confidential information - Answer-B *The setting of standards, the comparision of results with standards, and the correcting of deviations from standards are three steps in the ___ process. a. control b. decision-making c. planning - Answer-a *Doing nothing is never a viable alternative: T or F - Answer-F *The term efficiency is used t describe a condition in which the manager is: a. doing the right things b. accurately defining problems c. doing things right - Answer-C? *When a mangaer is doing the right things, the condition is known as: a. efficiency b. effectiveness c. dedication - Answer-B? *What is the primary task of a manger? - Answer-Makin decisions *What is the essence of managing? - Answer-Decision-making and risk-taking *Do managers need to like people? - Answer-No, just understand them *How is a manger's ability measured? - Answer-Results *Kotter's Change model - Answer-1) Create urgency 2) Form powerful coalition 3) Create vision for change 4) Communicate the vision 5) Remove obstacles 6) Create short-term wins 7) Build on the change 8) Achor changes in corporate culture *Kotter: why does sense of urgency need to be developed? - Answer-Make people want the change-spark initial motivation *Kotter: where does the power come from for influential people on the powerful coatliton? - Answer-Title Status expertise political importance... *Kotter: why is it important to set short-term targets that are achievable? - Answer-Provides the best source of motivation *Organizational mission vs culture - Answer-Mission: organization's purpose/objectives Culture: ex-dress code, how they care for patients... *Top store-related predictor of customer satisfaction in pharmacies - Answer-Staff courteousness *Successful business ownership involves efficienct management of 3 basic resources. What are they? - Answer-Money Manpower Merchandise Most important ingredient for business success - Answer-Highly trained, productive, loyal employee Can anyone be an entrepreneur? - Answer-Essentially, no-it's not for everyone You must have some innate traits Where do entrepreneurs come from? - Answer-Family tradition Parents born outside US Education level not the highest, but sufficient to get license Number of previous full time jobs Age-not really a factor Characteristics and work habits of entrepreneurs - Answer-Planning Desire to achieve Optimism Nurturing and compassionate attitude Hard work Acceptance of responsibility: victory and defeat Profit orientation Organized self-improvement *Entrepreneur vs intrapreneur - Answer-Develops own innovative business Manager w/in company that promotes innovative development *What is marketing? - Answer-Process of planning and carrying out conception, pricing, promotion, and distribution of ideas/goods/services-exchanges to satisfy customer and organization goals *What are the 4 Ps? Which is the most important? - Answer-Product Price Place *Promotion* Most common reason why customers go elsewhere - Answer-Employee's attitude of indifference Factors that foster company loyalty - Answer-1) Recognition of good work 2) Challenging work *Functions of management (understand) - Answer-1) Forecast and plan: might be most critical; can't eliminate chance/uncertainty, but can prepare for it 2) Organize: develop framework; DIVISION OF LABOR; balance authority and responsibility 3) Command/direct: ordering, supervising, leading, motivating, *communicating* 4) Coordinate: get everybody and everything working together; manage conflict 5) Control: see if meeting goals and make adjustments Importance of entrepreneurship - Answer-Someone has to be the one to take risks to keep the profession moving forward *Define transactional leadership - Answer-Might be called managing more than leading Leading transactions to get tasks done *Define transformational leadership - Answer-Leaders and followers help each other advance to higher levels of moral and motivation *Components of transformational leadership - Answer-Idealized influence: role model to followers Inspirational motivation Individualized consideration: concerned about followers needs-bring out best efforts Intellectual stimulation: challenge people to be innovative/creative Customer reasons for using a specific pharmacy - Answer-Convenience (location, hours) Service What type of pharmacies provides the most customer satisifaction? - Answer-Independent Predictors of customer satisfaction - Answer-Pharmacy-related: courteousness of staff Pharmacist-related: filling scripts in timely matter *Why companies lose customers - Answer-1) Felt ignored 2) Quality problems 3) Competition 4) Lured by friends 5) Moved 6) Decreased *"All my life, I always knew I wanted to be somebody. I see now I should've been more specific." What does this mean? a. blaming others for difficulties in life b. saying never took responsibility for her life c. she had a poorly defined personal mission d. saying she was never really aware of her problesm - Answer-c *Which is true about managing yourself? a. to take control of your life, you must stop blaming others for your failures b. good grades acheived ins chool have long-lasting effect on your success after graduation c. Meyers-Briggs test is designed to test the five dimensions of emotional intelligence d. knowing what you don't want in life is more important than knowing what you do - Answer-a *"I want to graduate from pharmacy school in spring 2011 with minimum 3.5 GPA," is example of what? a. objective b. mission c. goal d. vision - Answer-a