Managerial Economics Quiz
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Questions and Answers

What type of budget primarily reflects expenses that change in response to the volume of service?

  • Operating budget (correct)
  • Fixed budget
  • Personnel budget
  • Capital budget
  • Which managerial level is responsible for coordinating efforts between lower levels and top-level management?

  • Executive managers
  • First-level managers
  • Middle-level managers (correct)
  • Top-level managers
  • What does the formal structure of an organization primarily provide?

  • A framework for managerial authority (correct)
  • Creative team collaboration
  • Flexibility in decision making
  • Informal networking opportunities
  • What type of budget is focused on long-term investments such as buildings and major equipment?

    <p>Capital budget</p> Signup and view all the answers

    What best describes the informal structure within an organization?

    <p>A social network facilitating connections among employees</p> Signup and view all the answers

    What is the primary purpose of an organizational philosophy?

    <p>To guide actions toward the organization's mission</p> Signup and view all the answers

    How are objectives different from goals within an organization?

    <p>Objectives are similar to goals, but they are explicit and measurable</p> Signup and view all the answers

    What characterizes expressed policies in an organization?

    <p>They are formally written or verbally communicated</p> Signup and view all the answers

    What are procedures in an organizational context?

    <p>Sequence of steps for accomplishing a specific task</p> Signup and view all the answers

    What is the role of policies within an organization?

    <p>To guide decision-making and explain how goals will be met</p> Signup and view all the answers

    What should be ensured regarding existing rules within an organization?

    <p>They should be enforced to maintain organizational structure</p> Signup and view all the answers

    What is an implied policy?

    <p>A policy that has been developed over time without formal documentation</p> Signup and view all the answers

    What is the relationship between goals and objectives?

    <p>Goals are the ends pursued, while objectives are the measurable steps to achieve them</p> Signup and view all the answers

    What is the first phase identified by Kurt Lewin in the change process?

    <p>Unfreezing</p> Signup and view all the answers

    Which of the following activities is NOT part of the Movement stage?

    <p>Gather data</p> Signup and view all the answers

    What is a key responsibility during the Refreezing stage?

    <p>Support others so that the change continues</p> Signup and view all the answers

    What is the primary outcome of the Unfreezing phase?

    <p>Awareness of the need for change</p> Signup and view all the answers

    What does the butterfly effect refer to in terms of change management?

    <p>Small changes can lead to significant outcomes</p> Signup and view all the answers

    Which of the following is a responsibility of the change agent during the Movement stage?

    <p>Use strategies for overcoming resistance</p> Signup and view all the answers

    What does accuracy in a budget ensure?

    <p>Better planning for resource use</p> Signup and view all the answers

    Which step is NOT included in the Movement stage's responsibilities?

    <p>Evaluate the change</p> Signup and view all the answers

    What is the primary focus of first-level nurses in the organizational hierarchy?

    <p>Day-to-day needs at the unit level</p> Signup and view all the answers

    Which communication flow is most common for first-level managers?

    <p>Both upward and downward communication</p> Signup and view all the answers

    What type of planning is primarily associated with top-level managers?

    <p>Combination of long- and short-range planning</p> Signup and view all the answers

    Which organizational design is commonly referred to as line structure?

    <p>Bureaucratic organizational design</p> Signup and view all the answers

    What primary responsibility do mid-level managers have in communication?

    <p>Transmitting communication to top-level managers</p> Signup and view all the answers

    What characterizes a matrix organization structure?

    <p>Focus on both product and function</p> Signup and view all the answers

    How do top-level managers primarily receive feedback from subordinates?

    <p>Through middle-level managers</p> Signup and view all the answers

    In the context of organizational structure, ad hoc design is best described as:

    <p>A modification for temporary projects</p> Signup and view all the answers

    What characteristic defines functional nursing?

    <p>It is based on efficiency and fast completion of tasks.</p> Signup and view all the answers

    What is the primary responsibility of the primary nurse in primary nursing?

    <p>Provide total direct care and plan care from admission to discharge.</p> Signup and view all the answers

    In modular nursing, how is patient care organized?

    <p>In small, geographically-based teams with at least one RN present.</p> Signup and view all the answers

    What defines total patient care delivery?

    <p>One nurse assumes complete responsibility for all a patient's needs.</p> Signup and view all the answers

    What does team and modular nursing primarily rely on?

    <p>Assigning patients based on geographic location.</p> Signup and view all the answers

    Which of the following is NOT a traditional patient care delivery method mentioned?

    <p>Integrated nursing</p> Signup and view all the answers

    What is a key element of team nursing?

    <p>Collaboration among registered nurses and ancillary personnel under a nurse leader.</p> Signup and view all the answers

    How does the matrix organizational structure aim to improve traditional bureaucratic organizations?

    <p>By decentralizing decision-making and flattening hierarchical layers.</p> Signup and view all the answers

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