4PA3 Midterm Test with answers
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What is a general management perspective? - CORRECT
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ANSWERS ✔✔A capacity for appreciating the issues
|\ |\ |\ |\ |\ |\ |\
associated with organizational performance. |\ |\ |\
How does a general manager create value for the
|\ |\ |\ |\ |\ |\ |\ |\ |\
organization? - CORRECT ANSWERS ✔✔By identifying |\ |\ |\ |\ |\ |\
emerging opportunities for the organization.
|\ |\ |\ |\
What are the basic tasks of a general manager? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Setting direction, creating
|\ |\ |\ |\ |\
strategy, implementing change, and assessing
|\ |\ |\ |\ |\
performance.
What two sets of measures is organizational performance
|\ |\ |\ |\ |\ |\ |\ |\
based on? - CORRECT ANSWERS ✔✔The health of the
|\ |\ |\ |\ |\ |\ |\ |\ |\
organization and the financial performance of the firm. |\ |\ |\ |\ |\ |\ |\
Why are senior managers often unaware of the
|\ |\ |\ |\ |\ |\ |\ |\
organizational health of their firm? - CORRECT ANSWERS |\ |\ |\ |\ |\ |\ |\ |\
✔✔They receive filtered information from middle
|\ |\ |\ |\ |\ |\
managers.
,What are two common measures of operating
|\ |\ |\ |\ |\ |\ |\
performance? - CORRECT ANSWERS ✔✔Sales revenue |\ |\ |\ |\ |\ |\
and gross margin.
|\ |\
What is one common measure of organizational health? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Employee satisfaction rates.
|\ |\ |\ |\
What type of organization has negative operational
|\ |\ |\ |\ |\ |\ |\
performance but positive organizational health? -
|\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔A complacent organization.
|\ |\ |\ |\
What type of organization has both operational and
|\ |\ |\ |\ |\ |\ |\ |\
organizational performance positive? - CORRECT |\ |\ |\ |\ |\
ANSWERS ✔✔A healthy organization.
|\ |\ |\
What type of organization has positive operating
|\ |\ |\ |\ |\ |\ |\
performance and negative organizational health? -
|\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔A troubled organization.
|\ |\ |\ |\
What type of organization has both operating and
|\ |\ |\ |\ |\ |\ |\ |\
organizational performance negative? - CORRECT |\ |\ |\ |\ |\
ANSWERS ✔✔An organization in crisis.
|\ |\ |\ |\
,Why is developing a vision statement important for an
|\ |\ |\ |\ |\ |\ |\ |\ |\
organization? - CORRECT ANSWERS ✔✔To prevent |\ |\ |\ |\ |\ |\
confusion over the purpose of the business.
|\ |\ |\ |\ |\ |\
What two components make up a vision? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Guiding philosophy and a tangible image.
|\ |\ |\ |\ |\ |\
What do the core purpose and core values of an
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
organization represent? - CORRECT ANSWERS ✔✔Its |\ |\ |\ |\ |\ |\
guiding philosophy.|\
What characterizes a good mission statement? -
|\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔It challenges the organization.
|\ |\ |\ |\ |\
What is the timeframe for achieving the organizational
|\ |\ |\ |\ |\ |\ |\ |\
mission? - CORRECT ANSWERS ✔✔Over 10 years.
|\ |\ |\ |\ |\ |\
What is one purpose of the visioning process? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔To ensure the day-to-day actions of
|\ |\ |\ |\ |\ |\ |\
employees are consistent with the vision.
|\ |\ |\ |\ |\
Who is a common source of visionary ideas? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Employees. |\
, How are good vision statements best described? -
|\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Feasible and challenging.|\ |\ |\ |\
What is the key difference between vision and strategy? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔The vision provides broad|\ |\ |\ |\ |\ |\
direction; strategy sets general priorities.
|\ |\ |\ |\
What is the purpose of the vision, mission, and values of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
an organization? - CORRECT ANSWERS ✔✔To inspire the
|\ |\ |\ |\ |\ |\ |\ |\
organization and provide direction on how to achieve its |\ |\ |\ |\ |\ |\ |\ |\ |\
goals.
What is failure to translate a vision into a strategy known
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
as? - CORRECT ANSWERS ✔✔Strategic drift.
|\ |\ |\ |\ |\
What is strategic planning? - CORRECT ANSWERS ✔✔An
|\ |\ |\ |\ |\ |\ |\ |\
approach to strategic analysis based on how the strategy
|\ |\ |\ |\ |\ |\ |\ |\ |\
is developed.
|\
What kind of plan results from the strategic analysis
|\ |\ |\ |\ |\ |\ |\ |\ |\
process? - CORRECT ANSWERS ✔✔Business plan.
|\ |\ |\ |\ |\
What two aspects of the general manager's job must be
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
addressed before the strategy-making process can begin?
|\ |\ |\ |\ |\ |\
|\ |\ |\ |\
What is a general management perspective? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔A capacity for appreciating the issues
|\ |\ |\ |\ |\ |\ |\
associated with organizational performance. |\ |\ |\
How does a general manager create value for the
|\ |\ |\ |\ |\ |\ |\ |\ |\
organization? - CORRECT ANSWERS ✔✔By identifying |\ |\ |\ |\ |\ |\
emerging opportunities for the organization.
|\ |\ |\ |\
What are the basic tasks of a general manager? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Setting direction, creating
|\ |\ |\ |\ |\
strategy, implementing change, and assessing
|\ |\ |\ |\ |\
performance.
What two sets of measures is organizational performance
|\ |\ |\ |\ |\ |\ |\ |\
based on? - CORRECT ANSWERS ✔✔The health of the
|\ |\ |\ |\ |\ |\ |\ |\ |\
organization and the financial performance of the firm. |\ |\ |\ |\ |\ |\ |\
Why are senior managers often unaware of the
|\ |\ |\ |\ |\ |\ |\ |\
organizational health of their firm? - CORRECT ANSWERS |\ |\ |\ |\ |\ |\ |\ |\
✔✔They receive filtered information from middle
|\ |\ |\ |\ |\ |\
managers.
,What are two common measures of operating
|\ |\ |\ |\ |\ |\ |\
performance? - CORRECT ANSWERS ✔✔Sales revenue |\ |\ |\ |\ |\ |\
and gross margin.
|\ |\
What is one common measure of organizational health? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Employee satisfaction rates.
|\ |\ |\ |\
What type of organization has negative operational
|\ |\ |\ |\ |\ |\ |\
performance but positive organizational health? -
|\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔A complacent organization.
|\ |\ |\ |\
What type of organization has both operational and
|\ |\ |\ |\ |\ |\ |\ |\
organizational performance positive? - CORRECT |\ |\ |\ |\ |\
ANSWERS ✔✔A healthy organization.
|\ |\ |\
What type of organization has positive operating
|\ |\ |\ |\ |\ |\ |\
performance and negative organizational health? -
|\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔A troubled organization.
|\ |\ |\ |\
What type of organization has both operating and
|\ |\ |\ |\ |\ |\ |\ |\
organizational performance negative? - CORRECT |\ |\ |\ |\ |\
ANSWERS ✔✔An organization in crisis.
|\ |\ |\ |\
,Why is developing a vision statement important for an
|\ |\ |\ |\ |\ |\ |\ |\ |\
organization? - CORRECT ANSWERS ✔✔To prevent |\ |\ |\ |\ |\ |\
confusion over the purpose of the business.
|\ |\ |\ |\ |\ |\
What two components make up a vision? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Guiding philosophy and a tangible image.
|\ |\ |\ |\ |\ |\
What do the core purpose and core values of an
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
organization represent? - CORRECT ANSWERS ✔✔Its |\ |\ |\ |\ |\ |\
guiding philosophy.|\
What characterizes a good mission statement? -
|\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔It challenges the organization.
|\ |\ |\ |\ |\
What is the timeframe for achieving the organizational
|\ |\ |\ |\ |\ |\ |\ |\
mission? - CORRECT ANSWERS ✔✔Over 10 years.
|\ |\ |\ |\ |\ |\
What is one purpose of the visioning process? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔To ensure the day-to-day actions of
|\ |\ |\ |\ |\ |\ |\
employees are consistent with the vision.
|\ |\ |\ |\ |\
Who is a common source of visionary ideas? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔Employees. |\
, How are good vision statements best described? -
|\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Feasible and challenging.|\ |\ |\ |\
What is the key difference between vision and strategy? -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔The vision provides broad|\ |\ |\ |\ |\ |\
direction; strategy sets general priorities.
|\ |\ |\ |\
What is the purpose of the vision, mission, and values of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
an organization? - CORRECT ANSWERS ✔✔To inspire the
|\ |\ |\ |\ |\ |\ |\ |\
organization and provide direction on how to achieve its |\ |\ |\ |\ |\ |\ |\ |\ |\
goals.
What is failure to translate a vision into a strategy known
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
as? - CORRECT ANSWERS ✔✔Strategic drift.
|\ |\ |\ |\ |\
What is strategic planning? - CORRECT ANSWERS ✔✔An
|\ |\ |\ |\ |\ |\ |\ |\
approach to strategic analysis based on how the strategy
|\ |\ |\ |\ |\ |\ |\ |\ |\
is developed.
|\
What kind of plan results from the strategic analysis
|\ |\ |\ |\ |\ |\ |\ |\ |\
process? - CORRECT ANSWERS ✔✔Business plan.
|\ |\ |\ |\ |\
What two aspects of the general manager's job must be
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
addressed before the strategy-making process can begin?
|\ |\ |\ |\ |\ |\
