MGMT 3301 EXAM 2 QUESTIONS & ANSWERS
Examples of measures used in objectives include:
- new product development
- the economic environment
- staff morale
- stock price - Answer -stock price
Your objective is probably realistic if:
- it is hard.
- you believe it can be accomplished.
- it has an open time frame.
- it is easy. - Answer -you believe it can be accomplished.
A manager prepared for an employee's annual performance review by creating goals
and objectives for the employee, scheduling a meeting, and presenting the employee
with the goals and objectives. The employee agreed to meet these by the following
year's annual review. What did this manager do wrong?
- Goals and objectives should not be part of the annual review.
- The manager didn't plan to review the goals and objectives at mid-year.
- The manager did not involve the employee in setting agreed upon goals and
objectives prior to the meeting.
- The employee didn't create the goals and objectives prior to the meeting and present
them to the manager. - Answer -The manager did not involve the employee in setting
agreed upon goals and objectives prior to the meeting.
The Balanced Scorecard focuses on four types of measures, including which one that
looks at organizational efficiency?
- customers
- internal processes
- learning and growth
- financial performance - Answer -internal processes
In the SMART criteria, what does the "S" stand for?
- standards
- strategy
- specific
- skills - Answer -specific
Characteristics of MBO include:
- all of these.
- a detailed roadmap for implementation.
,- improving communication by centralizing decision making
- systematic and organized. - Answer -systematic and organized.
Objectives typically are:
- stated in terms of the corporate mission.
- related directly to the values of the company.
- clear, concise, and understandable.
- the same thing as goals. - Answer -clear, concise, and understandable.
Generally, goals and objectives serve to:
- improve performance.
- do all of these.
- gauge and report performance.
- align effort. - Answer -do all of these.
A Balanced Scorecard relies on which process to bind short-term activities to long-term
activities?
- communicating and linking
- performance metrics
- succession planning
- creating a vision - Answer -communicating and linking
In a personal Balanced Scorecard, __________ reflects your values and philosophy of
life.
- goal
- mission
- vision
- objective - Answer -mission
The most common appraisal error is:
- leniency.
- a desire to show authority.
- preconceived notions.
- favoritism. - Answer -leniency.
In personal scorecard, the financial goals:
- reflect those strengths that you wish to be distinguishing features.
- capture your needs and aspirations about money.
- reflect the goals related to your health and well-being.
- refer to your skills with regard to personal learning and growth. - Answer -capture your
needs and aspirations about money.
Which statement about corporate social responsibility (CSR) is accurate?
- It has been gathering momentum for over a decade.
- No positive links between CSR and firm financial performance have been identified.
- It is more prevalent in the U.S. than in Europe or Asia.
, - It bears no relationship to stock valuation. - Answer -It has been gathering momentum
for over a decade.
In the SMART criteria, what does the "R" stand for?
- reasonable
- reactive
- realistic
- relative - Answer -realistic
In KPMG's 2017 survey of the 250 largest companies worldwide, approximately what
percentage reported their corporate social responsibility?
- 22%
- 100%
- 93%
- 48% - Answer -93%
Best practices relating to performance reviews suggest that goals and objectives should
inspire, challenge, and...
- not exceed current expectations.
- stretch capabilities.
- avoid discussion of the reward system.
- be limited to a couple ideas. - Answer -stretch capabilities.
Who is generally responsible for setting goals and objectives in an organization?
- Stakeholders
- Employees
- Customers
- Leadership - Answer -Leadership
When setting an objective, you should answer six "W" questions. Which one relates to
identifying requirements and constraints?
- Why?
- Which?
- What?
- Who? - Answer -Which?
Which question should be addressed to determine whether your objective is
measurable?
- What do I want to accomplish?
- How will I know when it is accomplished?
- What are the requirements and constraints?
- Who is involved? - Answer -How will I know when it is accomplished?
The timing for a performance evaluation should coincide with:
- the employee's annual pay raise.
- the company's annual budget process.
Examples of measures used in objectives include:
- new product development
- the economic environment
- staff morale
- stock price - Answer -stock price
Your objective is probably realistic if:
- it is hard.
- you believe it can be accomplished.
- it has an open time frame.
- it is easy. - Answer -you believe it can be accomplished.
A manager prepared for an employee's annual performance review by creating goals
and objectives for the employee, scheduling a meeting, and presenting the employee
with the goals and objectives. The employee agreed to meet these by the following
year's annual review. What did this manager do wrong?
- Goals and objectives should not be part of the annual review.
- The manager didn't plan to review the goals and objectives at mid-year.
- The manager did not involve the employee in setting agreed upon goals and
objectives prior to the meeting.
- The employee didn't create the goals and objectives prior to the meeting and present
them to the manager. - Answer -The manager did not involve the employee in setting
agreed upon goals and objectives prior to the meeting.
The Balanced Scorecard focuses on four types of measures, including which one that
looks at organizational efficiency?
- customers
- internal processes
- learning and growth
- financial performance - Answer -internal processes
In the SMART criteria, what does the "S" stand for?
- standards
- strategy
- specific
- skills - Answer -specific
Characteristics of MBO include:
- all of these.
- a detailed roadmap for implementation.
,- improving communication by centralizing decision making
- systematic and organized. - Answer -systematic and organized.
Objectives typically are:
- stated in terms of the corporate mission.
- related directly to the values of the company.
- clear, concise, and understandable.
- the same thing as goals. - Answer -clear, concise, and understandable.
Generally, goals and objectives serve to:
- improve performance.
- do all of these.
- gauge and report performance.
- align effort. - Answer -do all of these.
A Balanced Scorecard relies on which process to bind short-term activities to long-term
activities?
- communicating and linking
- performance metrics
- succession planning
- creating a vision - Answer -communicating and linking
In a personal Balanced Scorecard, __________ reflects your values and philosophy of
life.
- goal
- mission
- vision
- objective - Answer -mission
The most common appraisal error is:
- leniency.
- a desire to show authority.
- preconceived notions.
- favoritism. - Answer -leniency.
In personal scorecard, the financial goals:
- reflect those strengths that you wish to be distinguishing features.
- capture your needs and aspirations about money.
- reflect the goals related to your health and well-being.
- refer to your skills with regard to personal learning and growth. - Answer -capture your
needs and aspirations about money.
Which statement about corporate social responsibility (CSR) is accurate?
- It has been gathering momentum for over a decade.
- No positive links between CSR and firm financial performance have been identified.
- It is more prevalent in the U.S. than in Europe or Asia.
, - It bears no relationship to stock valuation. - Answer -It has been gathering momentum
for over a decade.
In the SMART criteria, what does the "R" stand for?
- reasonable
- reactive
- realistic
- relative - Answer -realistic
In KPMG's 2017 survey of the 250 largest companies worldwide, approximately what
percentage reported their corporate social responsibility?
- 22%
- 100%
- 93%
- 48% - Answer -93%
Best practices relating to performance reviews suggest that goals and objectives should
inspire, challenge, and...
- not exceed current expectations.
- stretch capabilities.
- avoid discussion of the reward system.
- be limited to a couple ideas. - Answer -stretch capabilities.
Who is generally responsible for setting goals and objectives in an organization?
- Stakeholders
- Employees
- Customers
- Leadership - Answer -Leadership
When setting an objective, you should answer six "W" questions. Which one relates to
identifying requirements and constraints?
- Why?
- Which?
- What?
- Who? - Answer -Which?
Which question should be addressed to determine whether your objective is
measurable?
- What do I want to accomplish?
- How will I know when it is accomplished?
- What are the requirements and constraints?
- Who is involved? - Answer -How will I know when it is accomplished?
The timing for a performance evaluation should coincide with:
- the employee's annual pay raise.
- the company's annual budget process.
