MGT 521 Final Exam Guide New Version/MGT 521 Final Exam Guide New Version

1.  Unlike leaders, managers are those who:

encourage and motivate employees to work together to achieve a common vision.

implement procedures and processes to ensure the smooth functioning of an organization.

seek innovation rather than stability in their approach to fulfill organizational aspiration

develop relationships with employees based on trust and mutual respect.

2. Adopting a __________ involves distributing monetary resources among divisions to increase financial returns or to spread risks among different businesses.

differentiation strategy

global strategy

portfolio strategy

multidomestic strategy

3. Which of the following statements is true of a corporate-level strategy?

It provides the framework within which functional managers operate.

It is the primary responsibility of top managers.

It is used to identify an organization’s strengths and weaknesses.

It outlines a division’s long-term goals.

4. __________ is the process by which managers establish the structure of working relationships among employees to allow them to achieve a company’s goals efficiently and effectively.

Leading

Organizing

Planning