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Exam 8: Adapting Organizations to Todays Markets

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Question 121

True/False

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In order to improve services to customers,Northwest Electric,a regional monopoly recently rated their company's processes and products against the results achieved by the world's best at similar processes and products.Northwest Electric has adopted a policy of international standardization. Rating an organization's practices,processes,and products against the world's best is known as competitive benchmarking.

A) True
B) False

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Question 122

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Last week at Happy Trails Financial Services Company,all financial advisors who each serve more than 150 clients received a notice from the VP of Operations that every client's investment portfolio should consist of 50% individual stock purchases,25% bonds,and 25% property.Advisors were ordered to review all client portfolios for compliance to this directive.Clearly,Happy Trails is an inverted organization because management directives such as the one described are very common. In an inverted organization first-line employees are empowered to respond quickly to the wants and needs of customers,and to provide customers with the types of products and services that benefit them individually.

A) True
B) False

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Question 123

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For an inverted organization to be effective,it requires:

Young people today are often called __________ because they have never known life without the Internet.

Which of the following describes a temporary networked organization made up of replaceable firms that join and leave as needed?

Bull's-eye,a regional discount retailer,carefully watches and compares its operation with the operations of its closest rivals.This firm does:

A ____________ organization is characterized by direct two-way lines of responsibility,authority,and communication running from the top to the bottom of the organization,with all people reporting to only one supervisor.

Some business organizations still follow the 1940s organizational theory of Max Weber.

Due to more emphasis on empowerment and more talented and better-educated lower level management,span of control in organizations has __________.

A virtual corporation is a networked organization made up of replaceable firms that join the network and leave it as needed.

Inverted organizations empower employees by adding multiple layers of management and long lines of communication.

Eileen works in the human resources department of a corporation with several hundred employees.Her main function is to advise and assist managers in other departments,such as marketing and production,when they make staffing decisions.Eileen's position would be classified as a(n) ___________ position.

Effective employees learn the relationships of employees in the firm's informal organization.

At Green Acres Fencing Company,eight employees each perform various aspects of the company's work.One person does sales,four perform installation;one purchases materials;one does billing;one performs after-sales inspections.This type of organization reflects Fayol's principle of:

The matrix organization model brings together experts from different functional units of the firm to work on specific projects.

According to the Spotlight on Small Businesses box,titled,"Keeping that Small Company Feeling",the main idea is to:

Clear communication between workers and keeping order in materials and people are included in Fayol's principles.

Molly,a production line employee at Holiday Industries learned from a friend at her coffee break that one of the managers in accounting is about to be fired.She is eager to learn if other friends at Holiday know any more about the situation.This flow of information is an example of Holiday's grapevine. The grapevine is the flow of unofficial (and sometimes inaccurate)information between and among managers and employees within an organization.

The team experts in a matrix organization remain part of the traditional line-and-staff structure.

The optimum number of subordinates a manager can supervise is referred to as the: