Final Exam (MGMT 241)
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Final Exam (MGMT 241)

Course Number: MGMT 241, Spring 2011

College/University: University of Phoenix

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Final Exam Submitted by HOWELL, NAQUENA (HOWELLN0208) on 12/8/2010 9:39:29 PM Points Awarded Points Missed Percentage 50.00 0.00 100% 1. Krispy Kreme Krispy Kreme is a relatively small doughnut seller. It has only 295 stores while Dunkin Donuts has over 3,600 outlets in the United States and Canada. In spite of its size, Krispy Kreme has been described by many as the hottest brand in America. The companys...

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Exam Submitted Final by HOWELL, NAQUENA (HOWELLN0208) on 12/8/2010 9:39:29 PM Points Awarded Points Missed Percentage 50.00 0.00 100% 1. Krispy Kreme Krispy Kreme is a relatively small doughnut seller. It has only 295 stores while Dunkin Donuts has over 3,600 outlets in the United States and Canada. In spite of its size, Krispy Kreme has been described by many as the hottest brand in America. The companys success in an environment which has made success difficult for many food operations is due in large part to the longterm vision of its top management and its establishment and achievement of S.M.A.R.T. goals. The company originated in Winston-Salem, North Carolina, in the mid-1930s when Vernon Rudolph bought a secret recipe for yeast doughnuts from a French pastry cook. Rudolph ran the company until he died in 1973 without naming a successor, which caused the company problems for the next decade. Refer to Krispy Kreme. Krispy Kremes goal to open six new Krispy Kreme stores by 2009 in British Columbia where it already has a well-established reputation would be an example of a S.M.A.R.T. goal because it is ____. A) specific, measurable, attainable, realistic, and timely B) service-oriented, manageable, achievable, and time-oriented C) selective, marketable, achievable, and real-time-oriented D) standardized, measurable, actionable, response-driven, and temporal E) specific, marketable, and temporal Feedback: These are the characteristics of S.M.A.R.T. goals. Points Earned: 10.0/10.0 Correct Answer(s): A 2. At one time it was very difficult for independent booksellers to carry all the books from the different publishers. Book ordering was time-consuming and frustrating when orders did not arrive in a timely fashion. Returning unsold books was an equally miserable experience. The creation of Ingram Distribution allowed the booksellers to streamline the ordering and return procedures. Ingram made all the books bookstore owners wanted to carry available in one centralized warehouse. Many new bookstore owners would be unwilling and/or unable to return to the method of ordering books from the individual publishers. This is an example of the creation of ____. A) high supplier dependence on a buyer B) high buyer dependence on a supplier C) pure competition D) none of these E) transactional freedom Feedback: A high degree of buyer or seller dependence can lead to opportunistic behavior by one party at the expense of the other. Points Earned: 10.0/10.0 Correct Answer(s): B 3. In 2004, Coca-Cola PepsiCo and spent a total of $75 million to launch mid-calorie sodas, C2 and Pepsi Edge, banking on the lowcarb trend. Carb-conscious consumers rejected the drinks en masse since one of their key tenets is avoiding refined sugar in any amount. The new brands grabbed a combined market share of less than 1 percent. Given that the objective of both soft drink manufacturers was to increase their market share, the introductions were notably: http://bsuonline.bowiestate.edu/...d=01145F7FB3B54D998E7623B5CEBF259E&response_Id=263AF20DC3E64AC69B0E4F0140A8241D[12/14/2010 9:27:37 AM] Final Exam A) inefficient B) synergistic C) reciprocal D) autonomous E) empathetic Feedback: Efficiency is getting work done with a minimum of effort, expense, and waste. Points Earned: 10.0/10.0 Correct Answer(s): A 4. When the Chicago-based Club Aluminum Company was facing bankruptcy, one of the changes its new CEO made was to create a(n) ____ for all employees to follow in their business and professional lives. It read, "Of the things we think, say, and do: (1) Is it the truth? (2) Is it fair to all concerned? (3) Will it build goodwill and better friendships? (4) Will it be beneficial to all concerned? A) overt statement of integrity B) new vision C) statement of utilitarianism D) mission statement of principle E) code of ethics Feedback: A code of ethics states the companys core values and provides specific guidance for ethical behavior. Here Club Aluminums four questions reflect core values. Points Earned: 10.0/10.0 Correct Answer(s): E 5. Saturday, the manager of Tonys Pizza had to deal with an employee with a hangover, a missing server, and an unusually large number of customers. Monday was a slow day, and another employee fell asleep behind the prep table. Both employees came to work not ready to work their hardest. According to the ____, the manager should not be expected to have treated these two workers identically. A) principles of bureaucratic management B) systems approach to management C) contingency approach to management D) principles of administrative management E) human relations approach to management Feedback: According to the contingency approach, the most effective management theory or idea depends on the kinds of problems or situations that managers are facing at a particular time and place. Points Earned: 10.0/10.0 Correct Answer(s): C http://bsuonline.bowiestate.edu/...d=01145F7FB3B54D998E7623B5CEBF259E&response_Id=263AF20DC3E64AC69B0E4F0140A8241D[12/14/2010 9:27:37 AM]

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