MGT-201 Exam 1 Quiz

The set of key values, beliefs, understandings, and norms shared by the employees of an organization is called _____.

• organizational design

• organizational effectiveness

• organizational attractiveness

• organizational culture

Answer explanation

The correct answer is 'organizational culture' as it refers to the shared values, beliefs, and norms among employees in an organization, shaping their behavior and interactions.

A _____ is a planned activity at a special event that is conducted for the benefit of an audience.

• norm

• folkway

• ceremony

• statute

Answer explanation

A ceremony is a planned activity at a special event designed to honor or celebrate something, making it the correct choice. Norms and folkways refer to social behaviors, while statutes are laws.

The hotel chain Ritz-Carlton uses the phrase "Ladies and gentlemen taking care of ladies and gentlemen" to demonstrate the company's cultural commitment to take care of both employees and customers. Which of the following is the Ritz-Carlton using to express its corporate culture?

• The company is using a monograph to convey its strong values.

• The company is conveying how valuable its employees are with a blurb.

• The company is expressing a key corporate value with a slogan.

• The company is using a foreword to demonstrate its values.

Answer explanation

The Ritz-Carlton's phrase "Ladies and gentlemen taking care of ladies and gentlemen" serves as a slogan that encapsulates its commitment to valuing both employees and customers, thus expressing a key corporate value.

Which type of organizational culture uses an internal focus for a stable environment and supports a rational and orderly way of doing business?

• The adaptability culture

• The consistency culture

• The involvement culture

• The achievement culture

Answer explanation

The consistency culture emphasizes an internal focus and stability, promoting a rational and orderly approach to business operations, making it the correct choice for the described organizational culture.

In the context of the different types of corporate culture, the achievement culture is different from the other types in that it mainly:

• places a high value on meeting the needs of employees.

• emerges in an environment that requires fast response and high-risk decision making.

• values competitiveness and willingness to work long and hard to attain results.

• supports a methodical, rational, and orderly way of conducting business.

Answer explanation

The achievement culture emphasizes competitiveness and a strong work ethic to achieve results, distinguishing it from other cultures that may prioritize employee needs or methodical processes.

In the context of the types of corporate culture, which of the following scenarios illustrates the adaptability culture?

• Canton Inc. operates in a stable environment and has a culture that values competitiveness, personal initiative, and willingness to work long hours to achieve results.

• Hoover Mechanics operates in a stable environment and has a culture that supports a methodical, rational, and orderly way of doing things.

• Employees at Bilton Associates have to be flexible and responsive in meeting the changing consumer needs and have the liberty to make decisions.

• The managers at Jelly Legs Entertainment focus on meeting the needs of the company's employees and on creating a caring, family-like atmosphere in the organization.

Answer explanation

The scenario at Bilton Associates exemplifies an adaptability culture, as it emphasizes flexibility and responsiveness to changing consumer needs, allowing employees to make decisions.

A manager with a global mind-set:

• sees everything from one's own cultural perspective.

• can perceive and respond to many different perspectives at the same time.

• avoids taking risks.

• is characterized by a liking for uniform ways of thinking.

Answer explanation

A manager with a global mind-set can understand and integrate various cultural perspectives, enabling them to respond effectively to diverse situations, unlike those who see only from their own viewpoint or prefer uniformity.

Julia, the manager of a software firm, considers multiple perspectives before making crucial decisions. She handles unforeseen difficulties tactfully and is not afraid of taking risks. In the context of the dimensions of a global mind-set, this scenario best illustrates the _____.

• cognitive dimension

• social dimension

• informational dimension

• psychological dimension

Answer explanation

The scenario illustrates the psychological dimension as Julia demonstrates adaptability, risk-taking, and a thoughtful approach to decision-making, which are key traits of a global mindset's psychological aspect.

Which of the following statements is true of global leaders?

• They have extensive experience interacting with people different from themselves.

• They avoid taking risks.

• They are characterized by a liking for uniform ways of thinking.

• They focus on speaking a single language fluently.

Answer explanation

Global leaders thrive on diverse interactions, which enhances their understanding and adaptability. The correct statement highlights their extensive experience with different cultures, unlike the other options that suggest limitations.

Which of the following is the most cost-effective strategy for a company to enter the international arena?

• Franchising

• Licensing

• Exporting

• Acquisition

Answer explanation

Exporting is the most cost-effective strategy as it requires lower investment compared to franchising, licensing, or acquisition. It allows companies to enter international markets with minimal risk and overhead.