Managerial Economics Quiz

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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?

Capital budget Signup and view all the answers

What best describes the informal structure within an organization?

A social network facilitating connections among employees Signup and view all the answers

What is the primary purpose of an organizational philosophy?

To guide actions toward the organization's mission Signup and view all the answers

How are objectives different from goals within an organization?

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

What characterizes expressed policies in an organization?

They are formally written or verbally communicated Signup and view all the answers

What are procedures in an organizational context?

Sequence of steps for accomplishing a specific task Signup and view all the answers

What is the role of policies within an organization?

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

What should be ensured regarding existing rules within an organization?

They should be enforced to maintain organizational structure Signup and view all the answers

What is an implied policy?

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

What is the relationship between goals and objectives?

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

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

Unfreezing Signup and view all the answers

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

Gather data Signup and view all the answers

What is a key responsibility during the Refreezing stage?

Support others so that the change continues Signup and view all the answers

What is the primary outcome of the Unfreezing phase?

Awareness of the need for change Signup and view all the answers

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

Small changes can lead to significant outcomes Signup and view all the answers

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

Use strategies for overcoming resistance Signup and view all the answers

What does accuracy in a budget ensure?

Better planning for resource use Signup and view all the answers

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

Evaluate the change Signup and view all the answers

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

Day-to-day needs at the unit level Signup and view all the answers

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

Both upward and downward communication Signup and view all the answers

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

Combination of long- and short-range planning Signup and view all the answers

Which organizational design is commonly referred to as line structure?

Bureaucratic organizational design Signup and view all the answers

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

Transmitting communication to top-level managers Signup and view all the answers

What characterizes a matrix organization structure?

Focus on both product and function Signup and view all the answers

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

Through middle-level managers Signup and view all the answers

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

A modification for temporary projects Signup and view all the answers

What characteristic defines functional nursing?

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

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

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

In modular nursing, how is patient care organized?

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

What defines total patient care delivery?

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

What does team and modular nursing primarily rely on?

Assigning patients based on geographic location. Signup and view all the answers

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

Integrated nursing Signup and view all the answers

What is a key element of team nursing?

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

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

By decentralizing decision-making and flattening hierarchical layers. Signup and view all the answers

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?

Which managerial level is responsible for coordinating efforts between lower levels and top-level management?

What does the formal structure of an organization primarily provide?

What type of budget is focused on long-term investments such as buildings and major equipment?

What best describes the informal structure within an organization?

What is the primary purpose of an organizational philosophy?

How are objectives different from goals within an organization?

What characterizes expressed policies in an organization?

What are procedures in an organizational context?

What is the role of policies within an organization?

What should be ensured regarding existing rules within an organization?

What is an implied policy?

What is the relationship between goals and objectives?

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

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

What is a key responsibility during the Refreezing stage?

What is the primary outcome of the Unfreezing phase?

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

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

What does accuracy in a budget ensure?

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

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

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

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

Which organizational design is commonly referred to as line structure?

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

What characterizes a matrix organization structure?

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

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

What characteristic defines functional nursing?

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

In modular nursing, how is patient care organized?

What defines total patient care delivery?

What does team and modular nursing primarily rely on?

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

What is a key element of team nursing?

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

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