Strategic Management 1
Managers should focus on risks which have a high ________ and high ________.
a. Impact; Profitability
b. Reward; Probability
c. Impact; Probability
d. Payoff; Likelihood
Impact; Probability
Which function of management involves guiding and influencing the work of employees to meet goals?
a. Staffing
b. Controlling
c. Planning
d. Leading
Leading
Where is ICDC in two years (2023)?
a. Nashville, Tennessee
b. Atlanta, Georgia
c. Anaheim, California
d. Orlando, Florida
Orlando, Florida
Which of the following shows a grasp of good oral presentation skills?
a. Using wild gestures and hand movements while speaking.
b. Dressing as comfortably as possible to express confidence.
c. Reading off note cards for the duration of the presentation.
d. Repeating the take-home message several times.
Repeating the take-home message several times.
What basic rights in the workplace is an employee legally entitled to expect?
a. Right to privacy
b. Right to fair compensation
c. All of these
d. Freedom from discrimination
In addition to the four core functions of management, this is often listed as a fifth function.
a. Organizing
b. Leading
c. Planning
d. Motivation
Motivation
________ exposes someone or something to danger, harm, or loss.
a. Events
b. Projects
c. Success
d. Risk
Risk
What does Competition University prepare for besides DECA?
a. FBLA
b. NHS
c. ABC
d. ALSC
FBLA
Which of the following is a potential disadvantage of a free market economy?
a. Encourages new businesses
b. Workers are not encouraged to work
c. No government control
d. Competition
No government control
Which agency regulates health and safety for businesses?
a. OSHA
b. FDA
c. FFA
d. SEC
OSHA
Measuring the productivity of employees is an example of
a. Top-level management
b. Managerial control
c. Leadership style
d. Formal authority
Managerial control
The identification of risks and how to manage these risks happens during the _____________ function of management.
a. Organizing
b. Leading
c. Planning
d. Controlling
Planning
Measuring the productivity of employees is an example of:
a. Managerial control
b. Top-level management
c. Formal authority
d. Leadership style
Managerial control
When customers complain, what is the general rule that employees should follow in order to assure that customers receive fair and consistent treatment?
a. Customer service plan
b. Store policy
c. Store employee procedure
d. Plan of action
Store Policy
___________ analytics involves looking at past performance to understand what went wrong and why.
a. Prescriptive
b. Diagnostic
c. Predictive
d. Descriptive
Diagnostic
The controlling function of management is important to business because it:
a. Motivates employees to achieve their goals effectively.
b. Defines workplace roles and relationships
c. Encourages innovation and problem solving.
d. Ensures the project is on track and will be completed successfully.
Ensures the project is on track and will be completed successfully.
Which managerial function is most helpful when facing uncertainty within a company?
a. Staffing
b. Motivating
c. Planning
d. Communicating
Planning
Where is DECA headquarters?
a. Nashville, Tennessee
b. Washington D.C
c. Reston, Virginia
d. Dallas, Texas
Reston, VA
Currency such as paper money, banknotes, and coins represent money that is:
a. Credit
b. Electronic
c. Liquid
d. Inflated
Liquid
Employees should be considered brand ____. They hold the key to delivering the intended experience to the company's customers.
a. Managers
b. Ambassadors
c. Marketors
d. Debtors
Ambassadors
Thomas is the sales manager of a mid-sized business. He notices his employees' production levels have fallen recently. Wanting to do something to improve sales, Thomas creates a contest with a monetary reward. What management strategy is Thomas using to entice the employees to work harder?
a. Force
b. Bribery
c. Motivation
d. Directing
Motivation
Which of the following statements regarding risk management is false?
a. During the risk management process, contingency plans should be developed.
b. Risk management steps must be done in order and will only be done one time.
c. Risk management is important for every project or event.
d. When it comes to risk management, it is best to be proactive.
Risk management steps must be done in order and will only be done one time.
The identification of risks and how to manage these risks happens during the _____________ function of management.
a. Controlling
b. Leading
c. Organizing
d. Planning
Planning
Cecilia relies heavily on planning and structure. She plans out every part of her day and likes to plan her future. When something doesn't go to plan, Cecilia gets very stressed. Cecilia needs to:
a. Develop a higher self-esteem
b. Work on time management
c. Develop a tolerance for ambiguity
d. Improve her self-control
Develop a tolerance for ambiguity
Katie's friend tells her about a new job opening. The position seems to involve the same responsibilities Katie has at her current job, but offers a great deal more pay. Upset and angry, Katie decides to instantly quit her job and apply for this new one. This is an example of:
a. How biases can lead to rash decisions.
b. How logic and reason can influence decision-making.
c. How emotions can lead to hasty decisions.
d. How past experiences can guide a person in making decisions.
How emotions can lead to hasty decisions.