MGMT 303 Week 4 Midterm

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) One example of a firm studying it’s ______________ is an annual assessment of its labor supply

3. (TCO 3) Identify the statement below that is NOT one of the arguments offered in favor of social responsibility

4. (TCO 4) With whom is the United States involved in a mature market system?

5. (TCO 5) You have decided to become a small business owner. On your business plan, you state that you will be offering high-quality products with the best customer service. What does this statement in your business plan represent?

6. (TCO 6) Which is the most popular source of funds for a small business?

7. (TCO 1) Identify four skills that a manager needs in order to perform the job efficiently and effectively. Provide brief comments on each.

8. (TCO 2) Explain the differences among mergers, acquisitions, and alliances.

9. (TCO 3) How is an individual’s ethics determined? Explain

10. (TCO 4) Briefly describe the four basic levels of international business activity

11. (TCO 7) Briefly describe the bureaucratic model of organizational design

12. (TCO 4) Identify and describe three different ways that a firm can go global

13. (TCO 5) What are the differences between strategy formulation and strategy implementation?

14. (TCO 6) Briefly describe industries in which small businesses seem to be most effective and why this seems to be the case. In what area are small businesses least successful in comparison to large businesses?

15. (TCO 7) In what ways are virtual and learning organizations different from the typical organization?