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Exam 1: Section 1: Management

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Question 21

Multiple Choice

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First-line managers will most likely have to:

A) monitor the performance of corporate investments
B) encourage, monitor, and reward the performances of their employees
C) determine how to deal with long-term environmental changes
D) periodically monitor the company's organizational culture
E) do none of these

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Question 22

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Typical responsibilities for_______include coordinating and linking groups, departments, and divisions within a company.

A) top managers
B) middle managers
C) vice presidents
D) team leaders
E) first-line managers
Include coordinating and linking groups, departments, and divisions within a

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Question 23

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A business school administrator who is determining what classes will be offered in which rooms and who will teach each specific class is involved in which classical management function?

From the start, Amazon.com has been in a hurry to be a success. According to company founder and chief executive officer (CEO) Jeff Bezos, "Our initial strategy was very focused and very unidimensional. It was GBF: Get big fast. We put that on our shirts at the company picnic." With billions to spend from its initial stock offering (Amazon's stock quickly rose to over $100 per share) , Amazon spent $400 million to build eight high-tech warehouses across the country. Why spend that much for warehouses? In theory, each was capable of shipping 60 million items per year, and Amazon needed to control the entire buying transaction, beginning with online ordering, proceeding to quick warehouse handling and boxing, and ending with timely shipping and delivery. And, believing that their growth would parallel its own, Amazon then spent $350 million to buy large shares of two Internet retailers, Kozmo.com and Pets.com. Kozmo.com promised the ability to deliver thousands of items from gourmet foods to CDs and movies to customers' homes in 11 major cities within one hour after an order was placed. Pets.com was supposed to grow because Americans spend over $30 billion a year on their pets, but the pet industry was still comprised largely of small family-owned stores and was not yet dominated by a "big box" retailer like Home Depot. Unfortunately, Amazon grew so fast that it soon lost control of the basics. Despite the billions it had raised, Amazon burned money so quickly that it had to issue bonds to raise another $2.2 billion to keep the company running. Still, it had only enough business and cash to run six of those new warehouses. Consequently, the company took a $400 million loss to close two of the warehouses and lay off 1,500 people. Furthermore, the six remaining warehouses were poorly run. Defective products which should have been returned to manufacturers sat on the shelves wasting space. Mystery orders, like a truckload of unordered kitchen knives, kept showing up. Instead of declining the deliveries, workers put whole truckloads of unordered items on the shelves. Amazon's frustrated chief of operations said, "We kept it all-we just kept it. We put it on the shelf and said, 'I don't know.' " In fact, Amazon had so much unsold inventory in its warehouses that CEO Bezos sent out an email with a point-blank message, "Get the crap out." Finally, Amazon's $350 million investment in Kozmo.com and Pets.com evaporated when both filed for bankruptcy. Amazon's problem was not its sales, which were growing exponentially, but poor management. As a result, its stock, once valued at over $100 per share, dropped to a low of $6. As for profits, founder Bezos cautioned patience, saying, "Look at USA Today; it took 11 years to become profitable." However, Amazon has lost over $3 billion since its inception. Although the company has finally earned its first profits, that profit amounted to only $5 million on $1.12 billion in sales in its fourth quarter (October to December) , and Amazon still lost $45 million for the year. Furthermore, it still has long-term debt of $2.2 billion to pay off at the rate of $120 million per year. Results like these would have cost any other CEO his or her job. If Amazon is ultimately to survive and be profitable, what does it need to do to become a more efficiently run company? -Refer to Amazon.com. CEO Jeff Bezos must wrestle with basic management issues such as how to get more done at Amazon with a minimum of effort, expense, or waste. In other words, Bezos must make Amazon more:

The ability to perform ___________increases in its importance to success as managers' rise through the managerial ranks.

Which skills increase in their importance to success as managers' rise through the managerial ranks?

The three interpersonal roles are monitor, disseminator, and spokesperson.

As the shift supervisor at a car wash, Jacob is bossy, arrogant, and insensitive to the needs of his subordinates. He is unable to delegate any tasks to the other employees. He will more than likely never be a middle or top manager because he:

Managers are responsible for doing the basic work in the company.

As the human resources manager for Spring Engineering and Manufacturing Corp. in Canton, Michigan, Kim Radeback had to find inexpensive ways to reward performing employees and bolster morale during a sales- flattening economic downturn. Radeback is an example of a:

What type of skills tends to be equally important at all levels of management?

Typical titles used for top managers are general manager, plant manager, regional manager, and divisional manager.

A U.S. Marine drill instructor motivating new recruits to challenge themselves is engaged in which management function?

Krispy Kreme is a relatively small doughnut seller. It has only 292 stores in the United States, while Dunkin Donuts has 3,600 outlets. The company originated in Winston-Salem, North Carolina, where it still operates a plant that fills a 50-pound bag with doughnut mix every seven seconds. It recently opened a new plant in Effingham, Illinois, that fills a bag every three seconds. This second plant allows the company to reduce costs while increasing its output. The company began in the mid-1930s when Vernon Rudolph bought a secret recipe for yeast doughnuts from a French pastry cook. Rudolph ran the company until his death in 1973. -Refer to Krispy Kreme. Which management function had Rudolph not performed at the time of his death?

List and briefly describe the three basic managerial roles identified by Mintzberg. Include a list of the basic sub- roles that characterize each of these roles in your definition.

Identify the four different kinds of managers and list one of the basic responsibilities for each of these different types of manager.

Middle managers are typically responsible for coordinating and linking groups, departments, and divisions within a company.

At the death of her husband, Miriam McAllister became the CEO of a company that is the world's leading manufacturer of kidney dialysis machines. Even though she was not expected to, she quickly asked company employees to develop ideas for new products that would lead to organizational growth in a changing environment. The decisional role she took on was that of a(n) :

Bernd Pischetsrieder, chief executive of Volkswagen, announced restructuring plans for the company. VW is Europe's largest carmaker and needed to make itself profitable once again. To do so, VW cut thousands of jobs in the ensuing years through natural attrition, early retirement, and buying workers out of their contracts. The carmaker also considered whether its component parts factories in Brunswick, Kassel, and Wolfsburg were helping VW accomplish its organizational goal. Pischetsrieder blamed much of the company's problems on restructuring that was done in 1993. He insisted that the company is missing a whole generation of managers because its former CEO eliminated a whole layer of management. Now, 45 percent of managers were expected to go into retirement in the following three or four years. -Refer to Volkswagen. The restructuring efforts mainly involved which of the management functions?

After the makers of Wonder Bread declared bankruptcy, their objectives were to increase revenues by at least 5 percent and reduce net losses by at least 80 percent. Which management function is used to set these goals and help the company meet them?