QUESTION 16

1. A(n) _____ is an operational plan that is developed to carry out a course of action that is not likely to be repeated in the future.

   	a.	rule or regulation
   	b.	standing plan
   	c.	single-use plan
   	d.	SOP
   	e.	policy

QUESTION 17

1. Keisha is the vice president of accounting, and she has to decide which computer software to purchase for her department. She has looked at all of the possible alternatives and is leaning toward the system with which she is most familiar. This is an example of _____.

   	a.	synergy
   	b.	bounded rationality
   	c.	escalation of commitment
   	d.	optimizing
   	e.	satisficing

QUESTION 18

1. The _____ is the component of a strategy that specifies the range of markets in which an organization will compete.

   	a.	divestiture
   	b.	competency
   	c.	deskilling
   	d.	scope
   	e.	resource deployment

QUESTION 19

1. Which of the following statements is true about tactical goals?

   	a.	Their focus is on how to operationalize actions necessary to achieve strategic goals.
   	b.	Their focus is on broad and long-term issues such as increasing the profitability of the organization over a period of time.
   	c.	They are set for and by top managers.
   	d.	They are set for and by the board of directors.
   	e.	They are broad and nonspecific.

QUESTION 20

1. An international _____ is a set of countries that agree to markedly reduce or eliminate trade barriers among member nations.

   	a.	customs union
   	b.	trade bloc
   	c.	commonwealth
   	d.	economic community
   	e.	free trade area

QUESTION 21

1. Which of the following statements is true about a tactical plan?

   	a.	It is an organized sequence of steps designed to execute strategic plans.
   	b.	It is exclusively developed by the board of directors.
   	c.	It is developed independently of the external business environment.
   	d.	It is more broad and nonspecific when compared to a strategic plan.
   	e.	It does not specify time frames and resources.

QUESTION 22

1. Which of the following statements is true about a franchise agreement?

   	a.	The franchisee and not the franchiser takes the responsibility of marketing and advertising activities.
   	b.	The franchisee can consult the franchiser for managerial and financial help.
   	c.	The franchisee is free to modify the franchisor's products.
   	d.	The franchisee can keep all the profits made by the venture.
   	e.	The franchisee does not have to pay a start-up cost for the venture.

QUESTION 23

1. The _____ perspective places emphasis on individual attitudes.

   	a.	systems
   	b.	quantitative management
   	c.	behavioral management
   	d.	classical management
   	e.	contingency

QUESTION 24

1. Two or more companies that work together in joint ventures or other partnerships are called what?

   	a.	Strategic partners
   	b.	Competitors
   	c.	Regulators
   	d.	Suppliers
   	e.	Customers

QUESTION 25

1. Which of the following statements is true about the process of decision making?

   	a.	In a business scenario, the decision-making process is always aimed at finding a way to increase profits.
   	b.	The first step in the process is to identify alternatives to a problem.
   	c.	It ends when the decision situation has been defined.
   	d.	It includes putting the chosen alternative to practice.
   	e.	The process is said to be complete when a set of alternatives to a problem has been created.

QUESTION 26

1. A(n) _____ is a form of group decision making in which a group arrives at a consensus of expert opinion.

   	a.	Delphi group
   	b.	inactive group
   	c.	interacting group
   	d.	unstructured group
   	e.	unconventional group

QUESTION 27

1. In general, while identifying alternatives, the more important the decision,

   	a.	the less the chances of managers using expert opinion to make the decision.
   	b.	the more the tendency of managers to ignore intuitions.
   	c.	the less the chances of managers making the right decision.
   	d.	the less the time needed to make the decision.
   	e.	the more alternatives should be generated.