2019 MNG2601 TEST BANK

Question 6 of 29 1.0 Points A student was asked to explain any three areas of management. The student gave the following answer: "I choose to explain the operation, procurement and research and development areas. The operations function is responsible for the actual provision of goods and services to the organisation's client. The procurement function is responsible for buying the inputs and resources needed to produce the final product or service the company sells. The research and development function is responsible for developing new products and services and/or to improve "old" products and services". What is wrong with this answer? A. Nothing is wrong with the question. All three areas where correctly explained by the student, with no mistakes. B. There is one mistake. The operations area was incorrectly explained. Instead, he actually explained the marketing area. C. There are two mistakes. The operations area and the research and development were explained incorrectly. D. The student did not explain any of the three areas correctly. Answer Key: A Feedback: Direct theory question. Correct answer: Nothing is wrong with the answer. All three areas were correctly explained by the student, with no mistakes. Reference in Prescribed Book and Learning Outcome (LO): p. 38 LO3 Question 7 of 29 1.0 Points Mission statements should reflect at least ____ components, namely _____. A. five; technology, finance, customers, internal, and learning and growth perspectives B. four; finance, customers, internal, and learning and growth perspectives C. three; finance, target market and technology D. three; products and services, target market and technology Answer Key:D Feedback:Direct theory question. Correct answer: three; products and services, target market and technology Reference in Prescribed Book and Learning Outcome (LO): p. 239 LO2 Question 8 of 29 1.0 Points _____ management is responsible for _____.A. Top-level; implementing policies and strategies in their respective portfolio, aimed at achieving the vision and mission of the organisation B. Lower-level; short-term planning, and includes managerial titles such as financial manager or marketing manager C. Middle-level; implementing plans and strategies applicable in their respective functional areas and monitoring environmental influences that may affect their operations. D. Individual-level; determining jointly set objectives with their subordinates, aimed at achieving the broad organisational goals and objectives Answer Key:C Feedback:Direct theory question. Correct answer: Middle-level; implementing plans and strategies applicable in their respective functional areas and monitoring environmental influences that may affect their operations. Reference in Prescribed Book and Learning Outcome (LO): pp. 36 – 37 LO3