MGMT Final Exam: FUN, GRO, HUM, DEC, MOT, LEA With Correct Answers

A Product or service that is valuable but is not rare, has what is called Competitive Parity: True False - ANS True The definition of management is to work with and through others to achieve goals in an effective and efficient manner: true false - ANS true Complexity development is quickly emerging as an opportunity for managers to stay at the forefront of organizational effectiveness: true false - ANS true KSA, in regards to the FUN module, stands for: - ANS knowledge, skills, abilities As you consider your "dream" next step, reflect on these important questions: (selected the three presented in the reading) - ANS - What is your "dream" career opportunity? - How are you getting ready for that opportunity? - If you don't know, what might it be? One important ingredient for living your purpose is learning, a curiosity and desire to get better and better at doing what you love: true false - ANS true What is a simple framework for understanding competitive advantage? - ANS VRIO An organization is producing a product or service that is missing one of the elements from the VRIO framework, has a _____________ - ANS temporary competitive advantage When a product or service is valuable, rare, inimitable, and of high quality, it suggests that the organization is vulnerable to be at a disadvantage competitively.: true false - ANS false If a business has all elements of VRIO with regard to their product or service, they have a temporary competitive advantage.: true false - ANS false According to the text, all managers perform many of the same tasks and face many of the same challenges. Select the choice below which is not mentioned by the text as something all managers have in common. - ANS Work Within a Limited Budget When considering what it means to be a competent professional, we look at what is commonly referred to as KSAs. KSA stands for what? - ANS knowledge, skills, and abilities Competency development is quickly emerging as an opportunity for managers to stay at the forefront of organizational effectiveness.: true false - ANS true The lessor the level of competence specificity provided in the statement, the more understandable, accessible, and predictable the competency will be with regards to its criterion.: true false - ANS false First line managers are those individuals who are responsible for short-term decisions.: true false - ANS true Managers who make short term decisions and supervise employees are typically at what level of organization? - ANS first-line Every manager is an employee, but not all employees are managers.: true false - ANS true Top managers have to be goal-oriented and willing to deal with uncertain and competitive conditions: true false - ANS true Managers who are involved in developing the overall strategy for an organization would be a(n): - ANS top manager ________________ is achieving organizational goals in an effective and efficient manner through planning, organizing , leading, and controlling. - ANS management Managers use the controlling function of management when they set an example that makes workers want to achieve organizational goals. true false - ANS false Which function of management requires monitoring progress towards organizational goals? - ANS Control Which management function requires the coordination of resources needed to achieve organization goals? - ANS organize