Management Tools & Principles FInal/Midterm

A team that draws together employees from different functional areas is known as a:

The Economic Environment refers to:

Which term depicts a leadership approach that emphasises the mutual benefits of employees and managers working together:

Management by Objectives is a technique rooted in:

Making jobs more interesting and challenging by expanding the range of skills required is called:

If a large organization wanted to reduce the time it takes to make decisions, they should:

When the GDP of a nation declines for six consecutive months, the economy is said to have entered a:

IE University buys a top private university in Belgium and starts operating it. This is an example of:

Repsol Spanish petrol company operating in Argentina was taken over and is now operated by local government. Example of:

Selling more of a firm's existing products into current markets is referred to as:

Leaders who advise and support but let subordinates chart their own course are considered:

Suffering lower managerial perspective is a problem that is faced mostly by:

If customers become more optimistic, the demand curve will:

Which term depicts a leadership approach that emphasizes the mutual benefits of employees and managers working together?

Collecting and comparing process and performance data from other companies is known as:

Which is a permanent forum for negotiating, implementing, and monitoring trade procedures and disputes?

Companies embracing the "marketing concept" instead of the "selling concept" have as their primary focusÇ:

A pathway for the flow of authority from one management level to the next is known as the:

What concept describes the degree to which tasks in an organisation are divided into seperate jobs?

Socialism is the most extreme example when we talk about planned economies:

What is the term for a firm's ability to outperform rivals and achieve higher returns?

Quotas are:

All the internal and external groups affected by a company's decisions and activities are called:

In the field of economics, ___ is the value of the most appealing alternative not chosen.

Which of the following is NOT a step of the Strategic Planning Process?

In the process of satisfying customers, businesses transform lower value inputs into...

A graphical representation of an organization’s structure is called:

What technology can financial institutions use to detect fraudulent transactions in real-time?

What refers to the capacity of employees to make decisions without seeking approval from a higher authority level?

"Big Tasty Burger" in Alaska selling a French company rights to its brand, processes, and assets is an example of:

Negative internal factors hindering a company’s success, like obsolete facilities or inadequate resources, are known as:

A written statement that sets for the principles that guide an organisation's decisions is a/an:

Which of these was NOT a success factor in the analysis of Queen Elizabeth and Lady Gaga from "The Concept of Strategy"?

An individual or company that owes money to another party is referred to as:

Practicing good business ethics involves at a minimum:

Private individuals who invest in start-ups early and with smaller amounts than VCs are known as:

Single-layer taxation means that:

Which question is NOT essential for describing a fimr's strategy?

A written statement of what an organization wants to achieve and how it will accomplish it is called a:

The positive internal factors that contribute to a company’s success are known as:

Which organizational structure allows for the specialization of tasks but also promotes interdepartmental cooperation?

An organizational structure that groups employees by skills and job requirements is known as:

Plans for achieving strategic goals, developed by top managers for 2-5 years, are known as:

Platform business models like Amazon beat pipeline business models like Walmart because:

Which of the following is NOT one of the three fundamental concepts of financial management?

Which of these is NOT one of the factors of production?

In the context of financial accounting, the term Liquidity refers to:

According to the definitions of value chain and supply chain and the difference between them, the correct statement is:

What is the process of determining the cost of producing and selling a product?

The point where revenue and total costs are equal is called the:

_was shocked by factory inefficiencies and in 1911 wrote a book depicting the use of_to find “one best way” to do a job

Of these funding resources which one should you pay back all the money you borrow?

What term is used to describe a team that operates with a high degree of autonomy and is typically cross-functional?

An unincorporated business owned by two or more people is known as a:

When workers can't find jobs that match their qualifications, it's an example of:

Which term refers to obtaining funds for a business by borrowing?

In industries dominated by a few large firms, one firm often sets prices that other firms follow. This is called:

Who in the management pyramid translates strategic goals into actions to meet targets?

According to the book, there are 3 qualities shared by successful entrepreneurs. These are:

Core competencies are those activities at which a company excels and that give it the potential to generate:

New companies such as Goiko Grill start with an initial amount of funds. Which is NOT available to start a company?

The study of larger economic issues, such as government policy, is termed:

________ is the study of the actions of people at work.

The portion of after-tax profits that is not distributed to shareholders is called:

In a line-and-staff organization what functional groups provide advice & services but are outside the chain of command?

Which economic indicator shows the average change over time in the prices paid by urban consumers for goods and services

In the context of organisational design, what term describes an approach that removes layers of middle management?

What concept describes the degree to which tasks in an organization are divided into separate jobs?

__ is defined as a total ban on trade with a particular nation.

Which of the following theories speaks of the effect of "If we know we are being observed, our performance increases"?

An organizational structure which uses functional and divisional patterns simultaneously is known as:

Which of the following is NOT a factor of production?

An employee reports internal fraud to external authorities to protect stakeholders. What term describes this action?

A framework that helps managers divide responsibilities, ensure accountability, and distribute authority is known as:

When a country can produce a good or service at a lower opportunity cost than other countries, it has a(n):

The ability of a good or service to satisfy a customer’s wants is known as:

When a company’s risky decision causes others to bear the consequences, it is known as:

What term describes the set of guidelines outlining principles, values, and expected behaviour in a company?

When a company reduces the variety of its products, focusing only on what is most profitable, this strategy is called:

When workers can’t find jobs that match their qualifications, it is an example of:

How are positive demand economies of scale achieved in a platform business?

A team formed from a single functional department and based on the organization’s vertical structure is known as a:

Which of the following is NOT one of the three fundamental concepts of financial management?

In the context of factors of production, when we refer to "Capital", we refer to:

What term describes a product sold below its market price to attract customers to a store?

Management by objectives is a technique rooted on:

When there is a mismatch between workers' skills and employer needs, we call it:

Which of these is not a part of the business environment?

The process of identifying and attracting qualified candidates for jobs within a company is known as:

The total flow of money into the country - the total flow of money out of the country over a period of time is the:

What refers to the phenomenon where a group's desire for harmony results in a dysfunctional decision-making outcome?

When a buyer attempts to acquire a company against the wishes of management, this is known as a:

Which of the following concepts depicts when a buyer attempts to buy another company against the wish of its management?

Mass marketing is also known as:

The amount of a product that producers are willing to sell at various prices is called:

Which type of advertising encourages immediate consumer action by emphasizing discounts or promotions?

The measurable characteristics of a population are called:

________ is defined as a total ban on trade with a particular nation.

Which utility satisfies wants by providing goods and services at a convenient time for customers?

One important characteristic of sole proprietorship is:

What is a contractual agreement allowing a franchisee to sell or produce a franchisor’s products under their brand name?

________ is “the process of creating value for customers and building relationships to capture value in return.”

Who selects and hires the CEO of the company?

Establishing objectives and determining how to achieve them is known as:

When a country exports more than it imports, it has a:

In the process of satisfying customers, businesses transform lower value inputs into:

The first infusion of capital used to get a business started is known as:

In the context of organizational design, what term describes an approach that removes layers of middle management?

A company that enables quick responses to customer needs and changes is known as:

In the context of currency value, with a strong dollar...

The two general competitive strategies are:

The group of people most likely to buy a product is the:

What includes the policies, systems, and director responsibilities ensuring a business operates legally and effectively?

In the context of financial accounting, the term liquidity refers to:

A visual representation of employee groups and communication/authority flow is known as a:

The total value of a country’s exports minus the total value of its imports, over some period of time, is known as the:

Dividing the total market into groups of people who have similar wants and needs is called:

The criteria against which performance is measured is known as:

Tariffs are:

Consistency of a firm’s strategy, first with the external environment and second with its internal environment, is:

Mass marketing is also known as:

In general terms, profit is:

Who owns a corporation?

__ is the study of the actions of people at work.

C-level executives are considered as:

When the GDP of a country declines for 6 consecutive months the economy is said to have entered a:

At the top of Maslow's hierarchy is...

An unincorporated business owned by two or more people is known as a:

The managerial function of arranging resources to carry out the organization’s plans is known as:

A corporation’s first offering of shares to the public is known as:

All managerial roles that leaders must be can be grouped into 3 main categories. Which is NOT a management role?

Increasing usage of the Visa payment mechanism generates:

Telefónica was state-owned company until 1997 when the government stepped out of last 20% ownership they had.Example of:

The management function of guiding and motivating people to work toward organizational goals is known as:

The exchange of goods or services without using money is called: