BUSINESS

21. _____ is the introduction of new goods and services.

A. Collaboration

B. Standardization

C. Innovation

D. Adaptation

E. Saturation

22. Which of the following refers to service?

A. the speed and dependability with which an organization delivers what customers want

B. the technique of keeping costs low to achieve profits and to be able to offer prices that are attractive to consumers

C. the practice aimed at discovering and harnessing an organization’s intellectual resources

D. the technique of establishing goodwill through social relationships

E. the skill of understanding oneself, managing oneself, and dealing effectively with others

23. Which of the following is a contemporary approach to management?

A. scientific management

B. human relations

C. administrative management

D. systematic management

E. quantitative management

24. Which approach was the first to emphasize informal work relationships and worker satisfaction and emerged from a scientific management study that resulted in the discovery of the Hawthorne effect?

A. human relations

B. Hawthorne Studies

C. bureaucracy

D. administrative management

E. scientific management

25. Which of the following is one of the key elements that makes the current business landscape different from those of the past?

A. centralization

B. technological change

C. quality

D. cost competitiveness

E. speed

26. Bureaucracy can be defined as

A. a classical management approach that applied scientific methods to analyze and determine the “one best way” to complete production tasks.

B. a classical management approach that attempted to understand and explain how human psychological and social processes interact with the formal aspects of the work situation to influence performance.

C. a classical management approach that attempted to build into operations the specific procedures and processes that would ensure coordination of effort to achieve established goals and plans.

D. a contemporary management approach that emphasizes the application of quantitative analysis to managerial decisions and problems.

E. a classical management approach emphasizing a structured, formal network of relationships among specialized positions in the organization

27. If an organization ensures that a chain of command or hierarchy is well established, which characteristic of an effective bureaucracy does it exhibit?

A. qualifications

B. division of labor

C. authority

D. ownership

E. rules and controls

28. _____ skills influence a manager’s ability to work well with people.

A. Decisional

B. Technical

C. Interpersonal

D. Professional

E. Conceptual

29. _____ is assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.

A. Controlling

B. Planning

C. Organizing

D. Leading

E. Quantifying

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