Chap001TB - CHAPTER 1 MANAGEMENT TRUE/FALSE Learning Goal 1...

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CHAPTER 1 MANAGEMENT TRUE/FALSE Learning Goal 1 Describe the basic functions of management. Level of Learning 1 (Knows basic terms and facts) 1.1. Management is the art of getting things done through people in organizations. Answer: True LG: 1/LL: 1 Page: 4 AG: 10 1.2. One function of management in the twenty-first century is producing. Answer: False LG: 1/LL: 1 Page: 4 AG: 10 1.3. Choosing goals is part of the formal planning process. Answer: True LG: 1/LL: 1 Page: 4 AG: 10 1.4. Only senior managers engage in formal planning. Answer: False LG: 1/LL: 1 Page: 4 AG: 10 1.5. Lower-level managers use planning to develop overall strategies for an organization. Answer: False LG: 1/LL: 1 Page: 4 AG: 10 1.6. Managers at all levels in an organization spend a lot of time strategizing. Answer: True LG: 1/LL: 1 Page: 5 AG: 10 1.7. Strategizing involves constantly thinking through strategic alternatives. Answer: True LG: 1/LL: 1 Page: 5 AG: 10 1.8. An incentive is a factor that motivates individuals to pursue a particular course of action. Answer: True LG: 1/LL: 1 Page: 6 AG: 10 3
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Level of Learning 2 (Understands concepts and principles) 1.9. Strategizing involves thinking about how changes in the external environment impact the organization. Answer: True LG: 1/LL: 2 Page: 5 AG: 10 Rationale: Strategizing is the process of thinking through on a continual basis what strategies an organization should pursue to attain its goals. Strategizing involves being aware of and analyzing what competitors are doing, thinking about how changes in the external environment, such as changes in technology or government regulations, impact the organization, weighing the pros and cons of alternative strategies, anticipating how competitors might respond to these strategies, and deciding upon a course of action. 1.10. Starbucks’ entry into music retailing was a result of a formal planning process. Answer: False LG: 1/LL: 2 Page: 5 AG: 10 Rationale: Starbucks’ entry into music retailing was not the result of a formal planning process. The company’s journey into music retailing started in the late 1980s when Tim Jones, then the manager of Starbucks’ store in Seattle’s University Village, started to bring his own tapes of music compilations into the store to play. Soon Jones was getting requests for copies from customers. Jones suggested to Starbucks’ CEO that Starbucks should sell its own music and eventually the CEO took up the suggestion. 1.11. Strategy is implemented through planning. Answer: False LG: 1/LL: 2 Page: 5 AG: 10 Rationale: Strategy is implemented through organization. For example, to implement the strategy of expanding into online music, Howard Schultz, the Starbucks’ CEO organized the expansion by setting up a separate unit, placing an executive in charge of that unit and giving him the task of rolling out the stores across the country.
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Chap001TB - CHAPTER 1 MANAGEMENT TRUE/FALSE Learning Goal 1...

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