2019 MNG2601 TEST BANK.pdf - MNG2601 u2013 Assignment 1...

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Unformatted text preview: MNG2601 – Assignment 1 Feedback Part 2 of 2 - Part 2: Theory Questions 10.0 Points Question 5 of 14 1.0 Points Office managers perform the following functions of management: _____. (Multiple correct answers) A. motivating B. controlling C. leading D. coordinating E. delegating F. organising G. planning Answer Key:B, C, F, G Feedback: Direct theory question. Correct answer: planning organising control leading Reference in prescribed book and Learning outcome (LO): p. 31 LO2 Question 6 of 14 1.0 Points The managerial skill "teambuilding" includes coaching, directing, coordination and cooperation skills. Coaching involves _____. A. imparts skills to a less experienced individual, who needs the skills to take greater responsibilities B. practical experience of the task at hand C. the ability to achieve team work and to accomplish goals and objectives together D. working together to accomplish the strategic, tactical and operational goals and objectives of the organisation Answer Key:A Feedback:Direct theory question. Correct answer: impart skills to a less experienced individual, who needs the skills to take greater responsibilities Reference in Prescribed Book and Learning Outcome (LO): p. 41 LO5 Question 7 of 14 1.0 Points Weaknesses and opportunities can only be identified in the organisation's micro environment, whilst strengths and threats can be identified in the macro environment. Is this statement true or false? A. True B. False Answer Key:B Feedback:Direct theory question. Correct answer: False Reference in Prescribed Book and Learning Outcome (LO): p. 85 LO4 Question 8 of 14 1.0 Points Which one of the following does not form part of the components of planning? A. Motivating employees to work towards the organisation's goals. B. Identifying ways of reaching the organisation's goals. C. Determining the organisation's vision, mission and goals. D. Managing within a complex environment. Answer Key:A Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) motivating employees to work towards the organisation's goals p. 213 LO1 Direct theory question Question 9 of 14 1.0 Points The timeframe for operational plans is _____ and they are _____. A. long term; broadly focused B. short term; narrowly focused C. intermediate; more specific than strategic plans D. long term; more specific than strategic plans Answer Key:B Feedback: Direct theory question. Correct answer: short term; narrowly focused Reference in Prescribed Book and Learning Outcome (LO): p. 222 LO3 Question 10 of 14 1.0 Points Which one of the following is not a criterion that a good objective should meet? A. Expressed in qualitative terms B. Is attainable C. States the desired organisational results D. Expressed in specific terms Answer Key:A Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) Expressed in qualitative terms p. 215 LO1 Direct theory question Question 11 of 14 1.0 Points _____ strategy is an example of a corporate growth strategy. A. Turnaround B. Integration C. Focus D. Cost leadership Answer Key:B Feedback:Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) Direct theory Integration p. 247 LO2 question Question 12 of 14 1.0 Points _____ is concerned with financial soundness and the public image of the organisation. A. Organisational philosophy B. Strategic management C. Organisational architecture D. Strategic leadership Answer Key:A Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) Organisational philosophy p. 240 LO2 Direct theory question Question 13 of 14 1.0 Points Which of the following are decision-making roles of a manager? (Multiple correct answers) A. Spokesperson B. Disseminator C. Resource allocator D. Figurehead E. Liaison F. Entrepreneur G. Problem solver Answer Key:C, F, G Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) resource allocator problem-solver entrepreneur p. 42 LO5 Direct theory question Question 14 of 14 1.0 Points A student was asked to give one practical example of each of the remote environment's sub-environments. This is the answer the student gave: "An example of the technological environment is the intranet of an organisation. Inflation is an example of the economic environment, while tax regulation is an example in the political environment. Values of society is an example of the cultural environment, and an organisation's resources is an example of the ecological environment." How would you rate this answer? A. Excellent. The student has provided the correct practical examples of each subenvironment. B. Poor. The student gave more than two incorrect practical examples. C. Unacceptable. None of the practical examples are correct. D. Good. The student gave one or two incorrect practical examples. Answer Key:D Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) Good. The student gave one or two incorrect practical examples. p. 80 LO3 Direct theory question MNG2601 – Assignment 2 Feedback Part 2 of 3 - Part 2: Theory Questions Question 5 of 29 1.0 Points Under conditions of _____ managers can use _____ as a quantitative tool for decision-making. A. uncertainty; queuing theory B. uncertainty; probability analysis 11.0 Points C. certainty; the break-even analysis D. certainty; simulation Answer Key:B Feedback: Direct theory question. Correct answer: uncertainty; probability analysis Reference in Prescribed Book and Learning Outcome (LO): p. 275 LO8 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 Question 9 of 29 1.0 Points Simulation _____. A. is a quantitative tool for analysing the costs of waiting for service B. indicates possible returns from pursuing different courses of action C. optimally allocates scarce resources among competing users to maximise benefits or to minimise losses D. imitates a set of real conditions so that the likely outcomes of various courses of action can be compared Answer Key:D Feedback:Direct theory question. Correct answer: imitates a set of real conditions so that the likely outcomes of various courses of action can be compared Reference in Prescribed Book and Learning Outcome (LO): p. 277 LO8 Question 10 of 29 1.0 Points All managers, regardless of the type of organisation, the level at which they are involved, their designated roles or specific skills, engage in the four management functions. Is the statement true or false? True False Answer Key:True Feedback:Direct theory question. Correct answer: True Reference in Prescribed Book and Learning Outcome (LO): p. 31 LO2 Question 11 of 29 1.0 Points The strategy formulation phase in the strategic management process involves _____. A. management effectiveness B. institutionalising strategies C. setting long-term goals D. developing a vision Answer Key:C Feedback:Direct theory question. Correct answer: setting long-term goals Reference in Prescribed Book and Learning Outcome (LO): p. 255 LO2 Question 12 of 29 1.0 Points The management functions is a fundamental and interrelated process that all managers engage in. Is the statement true or false? True False Answer Key:True Feedback:Direct theory question. Correct answer: True Reference in Prescribed Book and Learning Outcome (LO): p. 31 LO2 Question 13 of 29 1.0 Points _____ management makes decisions mainly under conditions of _____ and can use _____ as a quantitative tool for decision-making. A. Middle-level; certainty; the break-even analysis B. Top-level; uncertainty; simulation C. Middle-level; high risk; the queuing theory D. Top-level; uncertainty and low risk; the pay-off matrix Answer Key:B Feedback:Direct theory question. Correct answer: Top-level; uncertainty; simulation Reference in Prescribed Book and Learning Outcome (LO): p. 275 LO8 Question 14 of 29 1.0 Points The business portfolio analysis as a method to select a corporate strategy, and assists managers in plotting business units on a matrix according to the business unit's relative market growth rate and market share. Is this statement true or false? True False Answer Key:True Feedback:Direct theory question. Correct answer: False Reference in Prescribed Book and Learning Outcome (LO): p. 250 LO2 Question 15 of 29 1.0 Points Queuing theory _____. A. imitates a set of real conditions so that the likely outcomes of various courses of action can be compared B. indicates possible returns from pursuing different courses of action C. optimally allocates scarce resources among competing users to maximise benefits or to minimise losses D. is a quantitative tool for analysing the costs of waiting for service Answer Key:D Feedback:Direct theory question. Correct answer: is a quantitative tool for analysing the costs of waiting for service Reference in Prescribed Book and Learning Outcome (LO): p. 275 LO8 Part 3 of 3 - Part 3: Application_Secom Case study 14.0 Points Question 16 of 29 1.0 Points According to the Boston Consulting Group growth-share matrix, Secom Group Limited can classify Waltons (stationary store) as a _____ in 2011. A. question mark B. cash cow C. dog D. star Answer Key:B Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) cash cow p. 252 LO2 “Secom focused on Waltons – which provided for needed cash flow. The cash flow was redeployed to help fund the loyalty programme.” This strategy is one an organisation would implement when they want to “milk” an SBU. Review this section in the prescribed book, and pay attention to the various strategies listed on page 252. Question 17 of 29 1.0 Points The human resources policy at Secom can be classified as a _____ plan. A. short-term B. standing C. single use D. tactical Answer Key:B Feedback:Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) standing p. 223 Human LO3 resources policy – policies are examples of standing plans. Question 18 of 29 1.0 Points Which variables are examples from Secom's remote environment? (Multiple correct answers) A. The economic recession B. The Secom mail-order catalogue and stand-alone cosmetics store C. Big non-food retail industry players such as Edgars and Truworths D. The Secom division, including Secom, @Home, Secom Active, Beau Skin and BlingBling E. Nedbank F. A new South African government led by president Nelson Mandela G. Middle-income Secom customers H. Lerato Ledwaba, in her capacity as the CEO of Walt, a Macro-type retailer I. Secom scrimping on store upkeep Answer Key:A, F Question 19 of 29 1.0 Points _____, a _____ -level manager, would typically focus on _____. A. Mrs Kenaka ;top; the entire organisation B. Mr Zekile; middle; the entire organisation C. Mrs Kenaka; top; implementing strategies within the research and development department D. Mr Zekile; middle; short-term planning Answer Key:A Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) _____, a _____ -level manager, would typically focus on _____. Mrs Kenaka; top; the entire organisation p. 37 LO3 Mrs Kenaka is the department's director. Review section 2.3.1 in the prescribed book to see which titles are associated with toplevel managers. Mr Zekile is the experienced and dynamic departmental manager.Review section 2.3.1 in the prescribed book to see which titles are associated with middle-level managers. Question 20 of 29 1.0 Points During which period did Secom follow a conglomerate diversification strategy? A. 1975–1981 B. 1965–1970 C. 1983–1998 D. 1945–1967 Answer Key:C Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) 1983–1998 p. 248 LO2 To answer this question, you needed to review each period in the case study and identify when Secom added an unrelated business in terms of products, market or technology (review section 11.2.2 in prescribed book). Adding beauty, fragrances and skincare brands is unrelated to clothing. Question 21 of 29 1.0 Points During which year did Secom follow a turnaround strategy? A. 2005 B. 2008 C. 2010 D. 2013 Answer Key:B Feedback: Correct answer (first column) Reference in Prescribed Book and Learning Outcome (middle column) Explanation (Last column) 2008 p. 249 You needed to check each year and identify which strategy Secom followed in each year. 2005 - In 2005, Secom acquired @Home, introducing home-living solutions (for example, bathroom, bedroom and kitchen products). (Diversification strategy) 2008 - The financial crisis of 2008 and the resultant economic recession only slightly curbed growth plans. Secom was scrimping (neglecting and saving) on store upkeep and stock as it serviced its buyout debt. During this time, Secom remained cautious with credit, but was building up cash. (Turnaround) 2010 - The year 2010 marked the introduction of Secom Active, a speciality store focusing on youthful lifestyles and brand-conscious customers. (Market development strategy) 2013 - During this year, Secom managed to increase its turnover and cash. In the same year, Secom sold its credit book to Nedbank for R7 billion. (Divestiture strategy) Question 22 of 29 1.0 Points Which variables are examples from Secom's market environment? (Multiple correct answers) A. Middle-income Secom customers B. The economic recession C. Big non-food retail industry players such as Edgars and Truworths D. A new South African government led by president Nelson Mandela E. Nedbank F. Secom scrimping on store upkeep G. The Secom mail-order catalogue and stand-alone cosmetics store H. The Secom division, including Secom, @Home, Secom Active, Beau Skin and BlingBling Answer Key:A, C, E Feedback:Correct answer: Market variables: Nedbank (Intermediary) Middle- to lower-income groups in South Africa looking for more affordable clothing products (Customers) Big non-food retail industry players such as Edgars and Truworths (Competitors) Reference in Prescribed Book and Learning Outcome: pp. 75 – 82 LO3 Explanation: Organisations can exert some influence on market environment variables. These variables are EXTERNAL. Review figure 4.3 in the prescribed book for examples. Question 23 of 29 1.0 Points _____ is an example of a/an _____ in Secom's micro-environment. A. The Secom division, including Secom, @Home, Secom Active, Beau Skin and Bling-Bling; opportunity B. Middle-income Secom customers; threat C. A new South African government led by president Nelson Mandela; strength D. Secom scrimping on store upkeep; weakness Answer Key:D Feedback:Correct answer: Secom scrimping on store upkeep (micro); weakness (yes, weakness) (correct combination) Reference in Prescribed Book and Learning Outcome: pp. 75 – 82 LO3; p. 85 LO4 Explanation: Review page 85. Strengths and weaknesses are identified in the MICRO-environment. Opportunities and threats are identified in the MACRO-environment (market and remote environments). Make sure you know what a strength, weakness, opportunity and threat mean. Question 24 of 29 1.0 Points _____ is an example of a/an _____ in Secom's external environment. A. Nedbank, who bought Secom's credit book for R7 billion; weakness B. The economic recession; threat C. Middle- to lower-income groups in South Africa looking for more affordable clothing products; strength D. Secom scrimping on store upkeep; opportunity Answer Key:B Feedback:Correct answer: The economic recession (remote); threat (yes, threat) (correct combination) Reference in Prescribed Book and Learning Outcome: pp. 75 – 82 LO3; p. 85 LO4 Explanation: Review page 85. Strengths and weaknesses are identified in the MICRO-environment. Opportunities and threats are identified in the MACRO-environment (market and remote environments). Make sure you know what a strength, weakness, opportunity and threat mean. Question 25 of 29 1.0 Points Which variables are examples from Secom's micro-environment? (Multiple correct answers) A. Big non-food retail industry players such as Edgars and Truworths B. A new South African government led by president Nelson Mandela C. Nedbank D. Secom scrimping on store upkeep E. The Secom mail-order catalogue and stand-alone cosmetics store F. The Secom division, including Secom, @Home, Secom Active, Beau Skin and BlingBling G. Middle- to lower-income groups in South Africa looking for more affordable clothing products H. Lerato Ledwaba, in her capacity as the CEO of Walt, a Macro-type retailer I. The economic recession Answer Key:D, E, F Feedback: Correct answer: Micro variables: The Secom division, including Secom, @Home, Secom Active, Beau Skin and BlingBling (Resource/function) The Secom mail-order catalogue and stand-alone cosmetics store Secom scrimping on store upkeep (Resource/function) Secom scrimping on store upkeep (Strategy) Reference in Prescribed Book and Learning Outcome: pp....
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