Question 1. The four key elements that make the current business environme

1. The four key elements that make the current business environment different from the past include globalization, technological change, the importance of knowledge and ideas and collaboration across organizational boundaries. True False

2. It can be said that technology both complicates things and creates new opportunities. True False

3. Using personal technology such as a BlackBerry, means that you must be available all of the time to do the best job possible. True False

4. Knowledge management is a set of practices aimed at discovering and harnessing the competition’s intellectual resources. True False

5. Collaboration can occur between but not within organizations. True False

6. Better serving the customer can start with involving the customer more in company decisions, especially when it comes to discovering more about customer attitudes. True False

7. The key to company success is how much the industry in which it operates will affect society or how much it will grow. True False

8. The fundamental success drivers for an organization are innovation, quality, speed, and product delivery time. True False

9. Innovation is the introduction of new goods and services. True False

10. If an organization does not innovate, it will die. True False

11. Quality is the excellence of your product (including goods and services). True False

12. Total quality includes preventing defects before they occur. True False

13. Today, customers value both the quality of physical goods and the quality of services. True False

14. One dimension of service quality is making it easy and enjoyable for customers to experience a service or to buy and use products. True False

15. Corporate speed often separates the winners from the losers in business. True False

16. “Cost competitiveness” means pricing your products lower than all competitors’ products. True False

17. Managing for competitive advantage includes delivering innovation, quality, service, speed, and cost competitiveness. True False

18. Management is the process of working with people and resources to make profit at all costs. True False

19. To be efficient is to achieve organizational goals. To be effective is to achieve goals with minimum waste of resources. True False

20. Efficiency is far more important than effectiveness in today’s competitive environment. True False

21. The four traditional functions of management include planning, organizing, leading and service. True False

22. Organizing is assembling and coordinating the resources needed to achieve goals. True False

23. Leading is taking care of all of the organizational items that occur so that your department moves forward. True False

24. Controlling monitors performance and implements necessary changes. True False

25. To become an effective manager you should choose one or two of the four management functions and become expert in only those. An outstanding manager only needs to be proficient in one or two of the functions as he or she can hire others to do the remaining functions. True False

26. Top managers are also called tactical managers since they must translate the general goals into specific objectives and activities. True False

27. Frontline managers often have titles such as supervisor or sales manager. True False

28. The need for interpersonal and communication skills fades as a manager moves from the lower levels of an organization into the upper management arena. True False

29. As managers rise through an organization, they will probably rely less on their technical skills. True False

30. Interpersonal skills are most important early in your career, whereas technical skills are important as you rise higher in the company. True False

31. Being a manager is more like being the conductor of an orchestra than playing an instrument in it. True False

32. In today’s work environment, one should only focus on becoming a specialist, since jobs are becoming so specialized. True False

33. Emotional intelligence involves the skills of understanding yourself, managing yourself and dealing effectively with others. True False

34. Social capital is the goodwill stemming from your social relationships. True False

35. In managing your career, it is important to know that now, more than ever individuals will be accountable for their actions and for results. True False

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