MGMT 303 MGMT303 Midterm Answers
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<strong>MGMT</strong> <strong>303</strong> <strong>MGMT</strong><strong>303</strong> <strong>Midterm</strong><br />
<strong>Answers</strong><br />
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<strong>MGMT</strong> <strong>303</strong> <strong>MGMT</strong><strong>303</strong> <strong>Midterm</strong> <strong>Answers</strong> (DeVry)<br />
1 (TCO 1) Carry Jones has proven herself as an able manager. Her work department’s<br />
project completion rate is the highest in the firm’s division. Furthermore, her team’s<br />
projects produce the highest quality products and the lowest defects in her division.<br />
This is all accomplished with fewer full-time people than other managers. When asked,<br />
Carry contributes the secret of her success is in her ability to delegate responsibility<br />
and her understanding of "management functions." Carry's ability to complete high<br />
quality activities efficiently and effectively with and through other people is known as<br />
_____.<br />
2 (TCO 2) A company that is doing an analysis of its physical assets is doing what<br />
sections of a SWOT?<br />
3 (TCO 3) A company is required by law to preserve and protect the natural resources. A<br />
company that goes beyond the requirements of the law might adopt a(an) ________<br />
approach.<br />
4 (TCO 4) _____ is the attitude in which managers use a global view and look for the<br />
best approaches and people regardless of origin.<br />
5 (TCO 5) If Delta Airlines decides to buy a regional carrier, this would be an example of<br />
a(n) _____ plan<br />
6 (TCO 6) Which of the following is a source of equity financing provided by a<br />
professionally managed pool of investors?<br />
7 (TCO 1) Mintzberg studied managerial roles and created a model with managerial<br />
roles. What are those roles? What does each role require?<br />
8 (TCO 2) Define this term about the general environment: Sociocultural dimension.<br />
Explain how a specific company has been impacted by the sociocultural aspect of<br />
society. Be specific.<br />
9 (TCO 3) Give five arguments for and five against a company being socially responsible.<br />
10 (TCO 4) Briefly describe the four different types of international organizations.<br />
11 (TCO 7) Give the six elements that are involved in organizational design. Briefly define
each.<br />
12 (TCO 4) Explain how the International Monetary Fund and the World Bank support and<br />
promote global business.<br />
13 (TCO 5) Briefly describe each of Porter’s competitive (generic) strategies, and give an<br />
original example of how a firm might use each strategy.<br />
14 (TCO 6) A new business can be started either from scratch or by buying an existing<br />
business. Which method seems best to you? Explain your answer.<br />
(TCO 7) The business world today is increasingly complex and variable in virtually<br />
every country and industry. Thus, organizations must become more organic. How do<br />
you define an organic organization and a mechanistic organization? What are some of<br />
the outcomes that companies will experience as they become more organic and less<br />
mechanistic? Be sure to include both positive and negative outcomes.