Question 1. (p. 5-6) According to the opening case, Ray Ozzie has a reputati

1. (p. 5-6) According to the opening case, Ray Ozzie has a reputation for being “the ultimate
techie”, which makes him an ineffective leader.
2. (p. 5-6) According to the opening case, Ray Ozzie’s talents were highly appreciated by Bill
Gates.
3. (p. 6) 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.
Chapter 01 – Managing
4. (p. 8) It can be said that technology both complicates things and creates new opportunities.
5. (p. 8) Among people who work long hours in high-stress jobs, 59% said technology
lengthens their workday.
6. (p. 9) Knowledge management is a set of practices aimed at discovering and harnessing the
competition’s intellectual resources.
7. (p. 10) Collaboration can occur between but not within organizations.
Type: Vocabulary
8. (p. 11) Better serving the customer can start with involving the customer more in company
decisions.
9. (p. 11) At one time there were at least 2,000 auto makers in the U.S.; now, there are only 3.
10. (p. 11) The fundamental success drivers for an organization are innovation, quality, speed
and product delivery time.
11. (p. 12) If an organization does not innovate, it will die.
Chapter 01 – Managing
12. (p. 14) Today, customers value both the quality of physical goods and the quality of
services.
13. (p. 16) “Cost competitiveness” means pricing your products lower than all competitors’
products.
14. (p. 19) To be efficient is to achieve organizational goals. To be effective is to achieve goals
with minimum waste of resources.
15. (p. 19) Efficiency is far more important than effectiveness in today’s competitive
environment.
3
16. (p. 19) The four traditional functions of management include planning, organizing, leading
and service.
17. (p. 19) Small organizations do not have to pay close attention to the controlling function to
be successful.
18. (p. 22) Top managers are also called tactical managers since they must translate the general
goals into specific objectives and activities.
Chapter 01 – Managing
19. (p. 23) Frontline managers often have titles such as supervisor or sales manager.
Learning Objective: 4
20. (p. 26) The need for interpersonal and communication skills fades as a manager moves from
the lower levels of an organization into the upper management arena.
: 5
21. (p. 26) As managers rise through an organization, they will probably rely less on their
technical skills.
22. (p. 26) Interpersonal skills are most important early in your career, whereas technical skills
are important as you rise higher in the company.
: 5
23. (p. 26) Being a manager is more like being the conductor of an orchestra than playing an
instrument in it.
5
24. (p. 26) In today’s work environment, one should only focus on becoming a specialist, since
jobs are becoming so specialized.
25. (p. 27) Emotional intelligence involves the skills of understanding yourself, managing
yourself and dealing effectively with others.
AACSB: Group/individual dynamics in organizations
Blooms taxonomy: Knowledge
Difficulty: Easy
Learning Objective: 5
Chapter 01 – Managing
26. (p. 28) In managing your career, it is important to know that now, more than ever,
individuals will be accountable for their actions and for results.
Chapter 01 – Managing
Multiple Choice Questions
27. (p. 6) Which of the following is NOT one of the key elements that make the current business
landscape different from the past?
A. Globalization
B. Diversity
C. Technological change
D. The importance of knowledge and ideas
E. Collaboration across organizational boundaries
the following are key components of the “current landscape in business” EXCEPT
A. Technological change
B. Globalization
C. The importance of knowledge and ideas
D. Collaboration across organizational boundaries
E. Isolationism
29. (p. 7) Successful CEO’s know that the change from a local to a global marketplace is:
A. Gaining momentum
B. Irreversible
C. Stable
D. Slowing
E. Both A & B are correct
30. (p. 7) About how many people use the internet?
A. 1,000,000
B. 5,000,000
C. 50,000,000

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