BUS 321 Exam 2 Review

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

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

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

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

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

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

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

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

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

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

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

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

The official goals of the organization are known as:

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

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

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

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

A SWOT analysis consists of __________.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Ambiguity occurs when _____.

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

What is the primary limitation of planning?

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.

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

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