BUS 321 Exam 2 Review

Mark is assigned to this type of team. They are tasked with creating 6 viable alternatives to a problem and disbanding.

_____ occurs when managers know the goals they need to achieve but info about alternatives & future events is incomplete

This legal form of a business protects the owner from personal liability.

The next step for a decision maker after recognizing and analyzing a problem is ______.

This type of planning helps managers implement the overall strategic plan.

The official goals of the organization are known as:

Managers who have a deep concern for people adopt this kind of decision style.

This organizational structure supports a formal chain of command for both divisional and functional relationships

The combination of the benefits received and costs paid by the customer is called _______.

A SWOT analysis consists of __________.

__________ means that decision authority is located near the __________ of the organization.

Ted has a great product idea and finds the resources necessary to make and sell it. Ted is a ________.

Continuously perceiving and processing information based on knowledge and experience without being aware is called ___.

________ entrepreneurship combines profits and innovation with a mission to make the world a better place.

What is the primary limitation of planning?

XYZ factory gives wide authority to employees on the assembly line. XYZ Factory has a high degree of centralization.

This strategy helps international companies achieve both national responsiveness and global integration

A _____ provides a blueprint for goal achievement and specifies the allocation of resources, schedules and tasks.

Borrowing money that has to be paid back to start a business is called _______.

______ refers to the number of subordinates reporting to a supervisor/manager.

Relative to a flat organizational structure, a tall structure has a ____ span of management and ___ hierarchical levels.

A cost leadership strategy involves an attempt to distinguish a firm's products from others in the industry.

Change and uncertainty in the environment is typically associated with decentralization.

Which of the following is NOT an appropriate legal structure for an entrepreneurial company.

Outcomes that major departments must achieve so the organization can reach its overall goals are operational goals

A mix of business units and product lines that fit together to create a competitive advantage is called a _____ strategy

Research has identified four major decision styles. These include all of the following except ______.

You are asked to come up with a plan in the event that sales in the company drop by 20% or more. This is ____ planning.

This type of strategy involves having a product that people love and will pay a premium for.

Decentralized planning is planning done by top managers who have expertise in the strategic vision of the company.

In this arrangement, an owner of a company allows others to purchase the rights to distribute their product/service.

All of the following are methods used to monitor external environments except ________.

According to experts, creating a corporate strategy is much more difficult than executing one.

All of these are steps in the organizational planning process except _________.

_____ means choosing the first alternative that satisfies minimal decision criteria.

This personal decision style is used by people who prefer simple, clear-cut solutions to problems.

STAFF departments include all of those employees who provide the skills to support LINE departments.

Ambiguity occurs when _____.

_____ plans are associated with a long-term time frame (5 or more years).

Ann is collecting data on how the company has performed since her HR strategy was implemented. This is the ____ stage.