Managerial Economics & Business Strategy, 10e Michael Baye, Jeff Prince, 2021 Test Bank
Managerial Economics & Business Strategy
( Test Bank)
Managerial Economics & Business Strategy, 10e Michael Baye, Jeff Prince, 2021 Test Bank
Edition: 10 Edition
Author Name: Michael Baye, Jeff Prince
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Student name:__________
1) At a recent staff meeting, Jeremy was praised by his CEO for choosing the right goals to pursue. The quality that Jeremy displays here is efficiency.
⊚ true
⊚ false
2) Patel Brothers Company uses a formal system of task and reporting relationships that coordinates and motivates its employees so that they work together to achieve organizational goals. This is an example of an organizational structure.
⊚ true
⊚ false
3) As a middle manager, Jobeth selects the goals for her team. The task that Jobeth is demonstrating is called leading.
⊚ true
⊚ false
4) Categorizing people by salary levels lays out the lines of authority and responsibility between different individuals and groups.
⊚ true
⊚ false
5) Categorizing people by salary levels lays out the lines of authority and responsibility between different individuals and groups.
⊚ true
⊚ false
6) The importance of planning, organizing, leading, and controlling remains the same irrespective of a manager’s position in the managerial hierarchy.
⊚ true
⊚ false
7) If you were an architect and spent your days working on design programs on the computer, you would be using your technical skills.
⊚ true
⊚ false
8) When Company XYZ needed to reduce costs to meet its annual profitability goal, it reduced levels in its hierarchy and laid off 15 percent of its workers. This is an example of restructuring.
⊚ true
⊚ false
9) A self-managed team is a group of employees who work independently but report to their respective managers about the progress of the team’s work.
⊚ true
⊚ false
10) The building blocks of competitive advantage are efficiency, quality, innovation, and responsiveness to customers.
⊚ true
⊚ false
11) A(n) _______ is a collection of people who work together and coordinate their actions to achieve a wide variety of goals.
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