MGMT 303 Midterm Exam

1. (TCO 1) Carry Jones has proven herself as an able manager. Her work department’s project completion rate is the highest in the firm’s division. Furthermore, her team’s projects produce the highest quality products and the lowest defects in her division. This is all accomplished with fewer full-time people than other managers. When asked, Carry contributes the secret of her success is in her ability to delegate responsibility and her understanding of "management functions." Carry's ability to complete high quality activities efficiently and effectively with and through other people is known as _____.

2. (TCO 2) A company that is doing an analysis of its physical assets is doing what sections of a SWOT?

3. (TCO 3) A company is required by law to preserve and protect the natural resources. A company that goes beyond the requirements of the law might adopt a(an) ________ approach

4. (TCO 4) _____ is the attitude in which managers use a global view and look for the best approaches and people regardless of origin

5. (TCO 5) If Delta Airlines decides to buy a regional carrier, this would be an example of a(n) _____ plan

6. (TCO 6) Which of the following is a source of equity financing provided by a professionally managed pool of investors?

7. (TCO 1) Mintzberg studied managerial roles and created a model with managerial roles. What are those roles? What does each role require?

8. (TCO 2) Define this term about the general environment: Sociocultural dimension. Explain how a specific company has been impacted by the sociocultural aspect of society. Be specific.

9. (TCO 3) Give five arguments for and five against a company being socially responsible

10. (TCO 4) Briefly describe the four different types of international organizations

11. (TCO 7) Give the six elements that are involved in organizational design. Briefly define each

1.(TCO 4) Explain how the International Monetary Fund and the World Bank support and promote global business.

2. (TCO 5) Briefly describe each of Porter’s competitive (generic) strategies, and give an original example of how a firm might use each strategy.

3. (TCO 6) A new business can be started either from scratch or by buying an existing business. Which method seems best to you? Explain your answer

4. (TCO 7) The business world today is increasingly complex and variable in virtually every country and industry. Thus, organizations must become more organic. How do you define an organic organization and a mechanistic organization? What are some of the outcomes that companies will experience as they become more organic and less mechanistic? Be sure to include both positive and negative outcomes.