Devry MGT303 midterm exam september 2015

Multiple Choice and Short Answer Questions

Question 1. 1. (TCO 1) One example of a firm studying its _____ is an annual assessment of the labor supply available to the company. (Points : 5)

organizational culture

internal environment

external environment

organizational mission

Question 2. 2. (TCO 2) A company that is doing an analysis of its physical assets is doing what sections of a SWOT? (Points : 5)

Threats

Opportunities

Internal

External

Question 3. 3. (TCO 3) A leader who wants to encourage ethics within the company should do all of the following EXCEPT (Points : 5)

be a good role model by being ethical and honest.

be willing to admit personal failures.

communicate personal values with employees.

hide information.

Question 4. 4. (TCO 4) _____ is the attitude in which managers use a global view and look for the best approaches and people regardless of origin. (Points : 5)

Monolingualism

Parochialism

Ethnocentric attitude

Geocentric attitude

Question 5. 5. (TCO 5) You have decided to become a small business owner. On your business plan, you state that the business will offer exceptional customer service while providing locally grown vegetables and fruits that are organically grown. What part of the business plan does this represent? (Points : 5)

A strategic goal

An operational plan

A mission statement

A strategic plan

Question 6. 6. (TCO 6) An organization or an entrepreneur can look for opportunities in different external areas, according to Peter Drucker. When the opportunity is due to a change by altering the types and quantities of products and services desired and customers' buying power, this is _____. (Points : 5)

industry and market structure changes

demographics changes

perception change

the unexpected or unanticipated change

Question 7. 7. (TCO 1) Give the three critical management skills used by a manager. Describe the extent to which the skills are used by different managerial levels. (Points : 10)

Question 8. 8. (TCO 2) Identify and comment on three organizational stakeholders. (Points : 10)

Question 9. 9. (TCO 3) Give five of the factors that determine whether an individual will be unethical or ethical in a situation. Give a short definition of each of the factors. (Points : 10)

Question 10. 10. (TCO 4) Briefly describe the four different types of international organizations. (Points : 10)

Question 11. 11. (TCO 7) Give the six elements that are involved in organizational design. Briefly define each. (Points : 10)

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Essay Questions

Question 1. 1. (TCO 4) Explain how the International Monetary Fund and the World Bank support and promote global business. (Points : 15)

Question 2. 2. (TCO 5) Identify a company and write a brief SWOT analysis for that company. (Points : 15)

Question 3. 3. (TCO 6) Describe three major important roles of entrepreneurship in the American economy. (Points : 15)

Question 4. 4. (TCO 7) The business world today is increasingly complex and variable in virtually every country and industry. Thus, organizations must become more organic. How do you define an organic organization and a mechanistic organization? What are some of the outcomes that companies will experience as they become more organic and less mechanistic? Be sure to include both positive and negative outcomes. (Points : 15)