general business data bank

26. "Cost competitiveness" means pricing your products lower than all competitors' products.
True False

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

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

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

30. Efficiency is far more important than effectiveness in today's competitive environment.
True False

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

32. The planning function can be described as delivering strategic value.
True False

33. Planning today is always a top-down function in which top executives establish business plans and tell others to implement them.
True False

34. Value is "strategic" when it contributes to meeting the organization's goals.
True False

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

36. In the future, organizing will include creating an organization chart and having a personnel department that administers plans, programs, and paperwork.
True False

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

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

39. 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

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

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

42. 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

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

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

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

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

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

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

49. 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