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Exam 7: Management and Leadership

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Question 71

True/False

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As a management function,the main focus of controlling is to keep complete and up-to-date records of the organization's financial transactions for tax and regulatory purposes.

A) True
B) False

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Question 72

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Which of the following activities is part of the organizing function of management?

A) Going over a spreadsheet to analyze some financial data
B) Teaching a new employee how to use a piece of office equipment
C) Giving front-line workers additional resources needed to provide faster and better service to customers
D) Developing a broad general strategy to help the organization meet its long-term growth objectives

E) A) and C)
F) B) and C)

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Question 73

Multiple Choice

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Rob intends to major in accounting because he is confident that an ability to read and interpret financial and accounting data is the way to get to the top in business.Rob seems to be concerned with developing his:

The downsizing that has occurred in recent years has __________ middle managers in many organizations.

Business partners Lars and Sam brought to life a revolutionary idea.Both were skilled in computer science.For the first few years,they hired people with their same mindset: employees who worked well under a free-reign leadership style where they could expand upon the company's technology and create new products.Moving forward,the partners realized that their fast-growing venture needed structure.Lars and Sam understood what was needed,but questioned whether they could change their own leadership behavior to make it happen.In order to develop the financial and operations side of the business,the partners hired an additional leader,a person whose leadership style was high on structure.Which of the following statements about leader behavior attests to the soundness of this strategic move?

A vision is a detailed set of specific steps that a firm must take to achieve its short-run objectives.

Mini-Case Lauzy Fare left his position as senior vice president at Blue Skies Electronics a few weeks ago to become the new CEO of Idle Time Gaming.Before joining the new company,Lauzy spent time studying Idle Time's competitive position and talking to employees in all divisions and at all levels of the organization.Based on his findings,Lauzy believes that Idle Time has potential,but also faces some serious challenges if it expects to grow. Lauzy found that when confronted by him,most of Idle Time's professional employees seemed almost afraid to express their opinions.He learned that Otto Craddick,the previous CEO and founder of the company viewed himself as the boss,and,as such,micromanaged every aspect of the business.This discouraged employees from using their own initiatives and ideas to solve problems.For example,Otto required sales and service representatives to get his approval before they made any major commitments to customers.Otto's policy prevented the organization from responding quickly to customer requests,so sales were lost.Unlike his predecessor,Lauzy believes it is important for sales and service personnel to be able to deal with many types of customer requests without needing approval from top management.He is confident that giving employees the authority and flexibility to deal with customers,and providing them with the training and resources to help them do so,will improve morale within the company,create customer satisfaction,and grow revenues. Lauzy also wants to make workers throughout the organization feel more appreciated.He plans to continue meeting with them on a regular basis to seek their advice.He hopes his work colleagues will eventually respond to his leadership style.He has already encouraged middle managers to get employees more involved in decision-making,and has suggested some problem solving techniques the managers could try. Although he thought that changing the rigidity of the company culture would be his first challenge at the new firm,Lauzy quickly realized that there were no standards in place to measure the progress of changes in internal morale,customer satisfaction,and profitability.He has asked managers in those departments to spend more time setting performance standards and then monitoring actual performance.Lauzy is confident that in a relatively short period of time internal changes will lead to good company performance.As a member of top management,Lauzy performs a variety of important tasks. -Lauzy's decision to establish well-defined standards for monitoring performance means that he expects management to seriously engage in the _________ function of management.

The level of management that is directly responsible for assigning specific jobs to workers and evaluating their daily performance is called:

Jermaine is a manager with Drevil Industries.Part of his job is to make specific short-term decisions about what his department must do to achieve Drevil's long-term success.Jermaine is involved in:

A(n) __________ leader would set objectives and give employees a great deal of freedom to decide for themselves how to accomplish those objectives.

A statement about why an organization exists and what it is trying to achieve is called the organization's directive.

Because of their importance and skills,few managers lost their jobs in the recent economic crisis.

Conceptual skills refer to the ability of a manager to perform the tasks associated with a specific discipline or department.

A(n) __________ would be used by a department manager as a tool for making daily and weekly assignments:

Mini-Case Lauzy Fare left his position as senior vice president at Blue Skies Electronics a few weeks ago to become the new CEO of Idle Time Gaming.Before joining the new company,Lauzy spent time studying Idle Time's competitive position and talking to employees in all divisions and at all levels of the organization.Based on his findings,Lauzy believes that Idle Time has potential,but also faces some serious challenges if it expects to grow. Lauzy found that when confronted by him,most of Idle Time's professional employees seemed almost afraid to express their opinions.He learned that Otto Craddick,the previous CEO and founder of the company viewed himself as the boss,and,as such,micromanaged every aspect of the business.This discouraged employees from using their own initiatives and ideas to solve problems.For example,Otto required sales and service representatives to get his approval before they made any major commitments to customers.Otto's policy prevented the organization from responding quickly to customer requests,so sales were lost.Unlike his predecessor,Lauzy believes it is important for sales and service personnel to be able to deal with many types of customer requests without needing approval from top management.He is confident that giving employees the authority and flexibility to deal with customers,and providing them with the training and resources to help them do so,will improve morale within the company,create customer satisfaction,and grow revenues. Lauzy also wants to make workers throughout the organization feel more appreciated.He plans to continue meeting with them on a regular basis to seek their advice.He hopes his work colleagues will eventually respond to his leadership style.He has already encouraged middle managers to get employees more involved in decision-making,and has suggested some problem solving techniques the managers could try. Although he thought that changing the rigidity of the company culture would be his first challenge at the new firm,Lauzy quickly realized that there were no standards in place to measure the progress of changes in internal morale,customer satisfaction,and profitability.He has asked managers in those departments to spend more time setting performance standards and then monitoring actual performance.Lauzy is confident that in a relatively short period of time internal changes will lead to good company performance.As a member of top management,Lauzy performs a variety of important tasks. -Otto,the previous CEO at Idle Time Gaming relied on a(n) ___________ style of management.

Human relations skills include those associated with leadership,coaching,morale building and supportiveness.

Ho Han has just spent two hours going over quality reports to determine whether his department is meeting quality standards he set for the current month.Ho's efforts are part of the ___________ function of management.

Planning involves setting the organizational vision,goals and objectives.

As a manager,two of Sylvia's strengths are her ability to communicate goals clearly,and her ability to guide,coach,and motivate workers.Based on these strengths,__________ is a management function that Sylvia is likely to be good at performing.

Pam is a sales manager for Paradise Beauty Products.She has told her sales people that she expects each of them to increase their customer contacts by at least 5 percent in the next month.Pam has set a(n) :