MGMT 100 Final Exam 2022 Questions and Answers

These forms of performance measurement provide the best and most immediate forms of feedback. - ANSWER MBWA and oral report The more a control system helps an organization ________, the more successful it is judged to b - ANSWER meet it goals When should a manager's course of action be to do nothing? - ANSWER when the variance is acceptable This is the most informal form of performance measurement. - ANSWER personal observation Steve has a taped record of this one-on-one meeting with his boss. - ANSWER an oral report In many cases, immediate corrective action rather than basic corrective action is taken by managers because they ________. - ANSWER lack of time An effective control system can help managers delegate authority to employees with confidence - ANSWER True Direct supervision of employees is a form of ________ control. - ANSWER concurrent In general, ________ that falls outside an acceptable range of variation must be dealt with by a manager. - ANSWER any deviation Some control criteria, such as employee satisfaction and absenteeism, are applicable to almost any management situation. - ANSWER True Operations management includes service industries but not manufacturing firms. - ANSWER False After World War II, U.S. managers made the mistake of thinking that ________. - ANSWER production problems were solved You would expect a highly developed country like ________ to have a predominantly ________ economy. - ANSWER France; service A business model is ________. - ANSWER a strategic design for how a company intends to make profit A bus company (like Greyhound) is a ________ organization because its product is ________. - ANSWER service; transportation An especially difficult part of the coordination and collaboration requirement for successful value chain management is identifying things that ________. - ANSWER customers value but you do not value Most countries in today's global business climate see ________ as the key to success. - ANSWER increasing producitvity As a product, piano lessons are ________. - ANSWER a service because they are nonmaterial To find the planned duration of a project on a Gantt chart, simply look at the width of the bar that represents actual progress. - ANSWER False ________ is the process of managing the sequence of activities and information along the entire value chain for a product. - ANSWER Value Chain Management