MGMT CHAPTER 1

1. Efficiency refers to using people, money, raw materials, and the like wisely and cost-effectively.
True False

1. In 2006, the average incomes for full-time workers with a bachelor’s degree did not vary significantly from those workers with a high school degree.
True False

1. To maintain competitive advantage, an organization must stay ahead in which of the following areas?

A. Customer responsiveness
B. Human resources
C. Speed
D. Marketing

1. When an organization uses ________, every aspect of running the business is facilitated by the Internet.

A. E-business
B. E-commerce
C. Databases
D. Project management software

1. The management process includes which of the following management functions?
A. Innovating
B. Leading
C. Implementing
D. Follow through

1. _______ is defined as monitoring performance, comparing it with goals and taking corrective action as needed
A. Delegating
B. Leading
C. Controlling
D. Organizing

1. Which type of manager is responsible for just one organizational activity
A. General
B. Top
C. Functional
D. Middle

Which of the following is a decisional managerial role?
A. monitor role
B. liaison role
C. disturbance handler role
D. leadership role

Intrapreneurship is the process of taking risks to try to create a new enterprise.
True False

which of the following characteristics can be best found in an entrepreneur rather than a manager?

A. high tolerance for risk
B. belief in personal control of destiny
C. high need for achievement
D. internal locus of control