BUS 201 COMPREHENSIVE EXAM QUESTIONS WITH
ACCURATE ANSWERS
______ are plans setting short-term targets for daily, weekly, or monthly
performance. correct answer operational plans
______ are those managers responsible for a firm's overall performance and
effectiveness and for developing long-range plans for the company. correct
answer top managers
______ competitiveness is the ability of a country to generate more wealth than
its competitors in world markets. correct answer international
______ involves mobilizing the resources required to complete a particular task.
correct answer organizing
______ involves the interactions between managers and their subordinates as
they both work to meet the firm's objectives. correct answer leading
______ is a financing technique whereby entrepreneurs make do with as few
resources as possible and use other people's resources wherever they can.
correct answer bootstrapping
______ is a long-term goal derived directly from the firm's mission statement.
correct answer a strategic goal
______ is a separate company unit responsible for its own costs and profits.
correct answer a profit center
,______ is achieving the greatest level of output with a given amount of input,
while ______ is achieving the organizational goals that have been set. correct
answer efficiency; effectiveness
______ is the duty to perform an assigned task, and ______ is the power to make
the decisions necessary to complete the task. correct answer responsibility;
authority
______ is the process by which the world economy is becoming a single
interdependent system. correct answer globalization
______ is the process of determining the firm's goals and developing a strategy
for achieving them. correct answer planning
______ is the process of identifying an opportunity in the marketplace and
accessing the resources needed to capitalize on that opportunity. correct answer
entrepreneurship
______ is the process of monitoring a firm's performance and making
adjustments to make sure it is meeting its goals. correct answer controlling
______ is the process of planning, organizing, leading, and controlling an
enterprise's financial, physical, human, and information resources to achieve the
organization's goals. correct answer management
______ is the reporting relationship within the company. correct answer the chain
of command
,______ is/are shorter-range plan(s) concerned with implementing specific aspects
of the company's ______. correct answer tactical plans; strategic plans
______ managers are responsible for designing and implementing various
systems to gather, process, and disseminate information. correct answer
information
______ managers are responsible for the production systems that create goods
and services correct answer operations
______ managers hire employees, train them, evaluate their performance, decide
how they should be compensated, and deal with labour unions. correct answer
human resource
______ require that products sold in a particular country be at least partly made
in that country. correct answer local content laws
_______ authority flows up and down the chain of command. correct answer line
_______ help managers define problems or opportunities and select the best
course of action. correct answer decision-making skills
_______ management means dealing with an emergency that demands an
immediate response. correct answer crisis
________ are not a type of product-line retailer. correct answer factory outlets
, ________ are people who recognize and seize opportunities and accept the risks
associated with creating and operating a new business venture. correct answer
entrepreneurs
________ departmentalization involves setting up departments or divisions that
focus on meeting the needs of specific customers. correct answer customer
________ departmentalization means creating departments based on the area of
the country or even the world they serve. correct answer geographical
________ departmentalization means dividing an organization according to the
specific products or services that are being created. correct answer product
________ departmentalization means dividing the company according to the
production process used. correct answer process
________ departmentalization means organizing departments according to the
function they perform marketing, finance, production, human resources, and so
on. correct answer functional
________ is concerned with the specification of the jobs to be done within a
business and how those jobs relate to one another. correct answer organizational
structure
________ is the process of identifying the specific jobs that need to be done and
designating the people who will perform them, whereas _________ is the process
ACCURATE ANSWERS
______ are plans setting short-term targets for daily, weekly, or monthly
performance. correct answer operational plans
______ are those managers responsible for a firm's overall performance and
effectiveness and for developing long-range plans for the company. correct
answer top managers
______ competitiveness is the ability of a country to generate more wealth than
its competitors in world markets. correct answer international
______ involves mobilizing the resources required to complete a particular task.
correct answer organizing
______ involves the interactions between managers and their subordinates as
they both work to meet the firm's objectives. correct answer leading
______ is a financing technique whereby entrepreneurs make do with as few
resources as possible and use other people's resources wherever they can.
correct answer bootstrapping
______ is a long-term goal derived directly from the firm's mission statement.
correct answer a strategic goal
______ is a separate company unit responsible for its own costs and profits.
correct answer a profit center
,______ is achieving the greatest level of output with a given amount of input,
while ______ is achieving the organizational goals that have been set. correct
answer efficiency; effectiveness
______ is the duty to perform an assigned task, and ______ is the power to make
the decisions necessary to complete the task. correct answer responsibility;
authority
______ is the process by which the world economy is becoming a single
interdependent system. correct answer globalization
______ is the process of determining the firm's goals and developing a strategy
for achieving them. correct answer planning
______ is the process of identifying an opportunity in the marketplace and
accessing the resources needed to capitalize on that opportunity. correct answer
entrepreneurship
______ is the process of monitoring a firm's performance and making
adjustments to make sure it is meeting its goals. correct answer controlling
______ is the process of planning, organizing, leading, and controlling an
enterprise's financial, physical, human, and information resources to achieve the
organization's goals. correct answer management
______ is the reporting relationship within the company. correct answer the chain
of command
,______ is/are shorter-range plan(s) concerned with implementing specific aspects
of the company's ______. correct answer tactical plans; strategic plans
______ managers are responsible for designing and implementing various
systems to gather, process, and disseminate information. correct answer
information
______ managers are responsible for the production systems that create goods
and services correct answer operations
______ managers hire employees, train them, evaluate their performance, decide
how they should be compensated, and deal with labour unions. correct answer
human resource
______ require that products sold in a particular country be at least partly made
in that country. correct answer local content laws
_______ authority flows up and down the chain of command. correct answer line
_______ help managers define problems or opportunities and select the best
course of action. correct answer decision-making skills
_______ management means dealing with an emergency that demands an
immediate response. correct answer crisis
________ are not a type of product-line retailer. correct answer factory outlets
, ________ are people who recognize and seize opportunities and accept the risks
associated with creating and operating a new business venture. correct answer
entrepreneurs
________ departmentalization involves setting up departments or divisions that
focus on meeting the needs of specific customers. correct answer customer
________ departmentalization means creating departments based on the area of
the country or even the world they serve. correct answer geographical
________ departmentalization means dividing an organization according to the
specific products or services that are being created. correct answer product
________ departmentalization means dividing the company according to the
production process used. correct answer process
________ departmentalization means organizing departments according to the
function they perform marketing, finance, production, human resources, and so
on. correct answer functional
________ is concerned with the specification of the jobs to be done within a
business and how those jobs relate to one another. correct answer organizational
structure
________ is the process of identifying the specific jobs that need to be done and
designating the people who will perform them, whereas _________ is the process
