MGT 500 Week 5 Midterm This exam consist of 25 multiple choice questions and covers the material in Chapters 1 through 8. 1. The nature of management is to cope with ____ and far-reaching challenges. 2. One of the important ideas in the text’s definition of management is 3. Selecting goals and ways to attain them refers to 4. Positions organized in a hierarchy of authority is an important characteristic of 5. Which of the following is often considered the “father of the quality movement?” 6. Mary Parker Follett contributed to which field? 7. A ____ represents a phrase or sentence that succinctly expresses a key corporate value 8. ____ system draws resources from the external environment and releases goods and services back to it 9. The involvement culture has a(n) ____ focus on the involvement and participation of employees to rapidly meet changing needs from the environment. 10. A country’s physical facilities that support economic activities make up its ____. 11. Today’s companies compete in a ____. 12. The European Union has expanded to a ____-nation alliance 13. ____ is considered a decision that enables an individual or company to benefit at society’s expense 14. Human beings have fundamental rights and liberties that cannot be taken away by another individual’s decision. This ethical decision making approach is known as the 15. Individualism is most closely related to 16. What is the most common way that entrepreneurs finance the start-up of a new business? 17. The drawback(s) of proprietorship include 18. An artificial entity created by the state and existing apart from its owners is known as 19. Which of the following is a visual representation of the key drivers of an organization’s success, showing the cause-and-effect relationships among goals and plans? 20. Goals that define the outcomes that major divisions and departments must achieve in order for the organization to reach its overall goals is called 21. Contingency plans are also referred to as 22. ____ refers to the modification of product design and advertising strategies to suit the specific needs of individual countries. 23. Which of the following refers to the planning and decision making that lead to the establishment of the organization’s goals and of a specific strategic plan? 24. Which of the following is a business activity that an organization does especially well relative to its competition? 25. The ____ function recruits selects, trains, transfers, promotes, and lays off employees to achieve strategic goals Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help
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