1201 test 2
You are applying for a job as a camp counselor for the summer. Listed below are some statements that are included on your resume. Which of these statements should be changed if you are using Jeff and Mike's tips from the video? Please choose all that apply.
-I worked at McDonalds for two years. -I taught swim lessons last summer. -My career goals are to find an entry level position in an accounting firm. - I love to swim! :-)
You are assigning management responsibilities for the air hockey tournament. To do this, you have to identify which committee member has the management skill to accomplish each task. Use the drop-down menu to identify manager has the skill needed for each task. 1.Brenda is a technology buff and can use many digital devices and applications. 2.Derek is experienced in both writing and public speaking. 3.Jonathan is known for creative thinking and devising solutions to unusual problems. 4.Jane enjoys networking with many groups and connecting people with each other. 5.Bob is a big-picture person, seeing how things fit within the whole situation. -Think about different ways to resolve problems like not having money to pay for promoting the tournament. -Utilize software to make attractive registration forms and fundraising receipts for the tournament. -E-mail two air hockey experts and persuade them to donate their time by attending your tournament. -Envision the scope of the tournament and how many people will be needed behind the scenes before, during, and after the actual event. -Accomplish tasks through the ability to get along with people at the charity, people who want to play in the tournament, and others whose efforts will make the fundraiser successful.
-Jonathan -Brenda -Derek -Bob -Jane
Before you open your new restaurant, you decide to get outside advice about management and financing. Using the drop down menu, match each of these descriptions with the appropriate organization providing the assistance. -Free counseling from retired and active businesspeople in the local community. -Free management counseling from students in business administration on local campuses. -Training and counseling services drawing on the resources of government agencies, private businesses, and universities. -Publications, workshops, and other assistance from a specialized government agency created by Congress more than 60 years ago. -Private firms licensed by the Small Business Administration to provide venture capital to small businesses that might otherwise be unable to attract such investment.
-SCORE -small-business institutes (SBIs) -small-business development centers (SBDCs) -small business administration (SBA) -small-business investment companies (SBICs)
As you plan for your own small business, you're making a list of possible pros and cons. Using the drop down menu, identify each statement as an advantage or disadvantage of small business. -You don't want to account to a boss for how you spend your time. -You enjoy meeting new people and doing what you can to be helpful. -You are worried about your business not doing well. -You wonder about how big your small business can grow because you want to make a good living. -You believe in experimenting with different ways to meet your customers' needs, even trying new things from one day to the next. -You want to work closely with customers rather than having to invest a lot of time in complicated paperwork.
-advantage -advantage -disadvantage -disadvantage -advantage -advantage
You are assigning management responsibilities for the air hockey tournament. To do this, you have to identify which committee member has the management skill to accomplish each task. Use the drop-down menu to identify the management skill needed for each task. -Think about different ways to resolve problems like not having money to pay for promoting the tournament. -Utilize software to make attractive registration forms and fundraising receipts for the tournament. -E-mail two air hockey experts and persuade them to donate their time by attending your tournament. -Envision the scope of the tournament and how many people will be needed behind the scenes before, during, and after the actual event. -Accomplish tasks through the ability to get along with people at the charity, people who want to play in the tournament, and others whose efforts will make the fundraiser successful.
-analytic skills -technical skills -communication skills -conceptual skills -interpersonal skills
You are a manager of college recruiting for IBM, a century-old technology corporation with $100 billion in annual sales and 400,000 employees worldwide. You have considerable experience with social media communications, which is why you've been assigned to prepare a report about how IBM can use social media to recruit graduating seniors. You can ask a number of young summer interns to help you complete this assignment. Use the drop down menu to indicate which management skills you must apply to be effective in handling this assignment. -Talk with a dozen summer interns to explain the assignment and learn what they can offer if they're chosen for the team. -Establish specific objectives, set up a work schedule, and figure out the steps your team should take to complete the assignment. -Get started on an app to dig into the social media messages already posted by IBM for recruiting purposes. -Get in touch with internal and external contacts to understand how different divisions and other corporations use social media for recruiting. -Determine, based on your team's findings, what needs to be improved and recommend a specific solution to fix the problem(s).
-communication skills -conceptual skills -technical skills -interpersonal skills -analytical skills
After meeting with Soup Today's top executives and visiting three of its franchisees, you jotted down some quotes. Using the drop down menu, select pro or con to indicate whether it is seen as an advantage or a disadvantage from the franchisee's perspective. -A franchisee said: "Soup Today controls every tiny detail of my franchise, from soup recipes to employee uniforms to accounting systems. I want to make more decisions on my own, but I'm limited by the franchise agreement." -A second franchisee said: "Soup Today really knows the restaurant business. Sure, I pay royalties, but I feel more confident as an entrepreneur because I know I can get expert advice whenever I have a problem." -A third franchisee said: "Ingredients and supplies would be much more expensive if I didn't have the Soup Today franchisee buying group. Actually, I'm getting higher quality ingredients than I could afford as one small business on my own." -Soup Today's director of marketing said: "Have you seen our Super Bowl ads? Then you know we are very aggressive in advertising our brand to support local franchisees around the country." -Soup Today's director of franchise sales said: "So far, we have sold only two franchises in your part of the state. Be aware that we have received other inquiries and we have the right to sell to many other franchisees in your area." -Soup Today's executive chef said: "We carefully research consumer trends and introduce a steady stream of new soups to bring customers into local outlets again and again."
-con -pro -pro -pro -con -pro
You want to start your own small business. Which of these broad industry categories attract the most small businesses? Select all that apply.
-distribution industries -service industries -production industries
You are considering how to be most effective in leading the team of summer interns working on this special project for IBM. Use the drop-down menu to identify the style of leadership represented by each of the following descriptions. -You have a lot of visionary ideas for the team to consider, and you're prepared to take the initiative from the beginning, starting early and staying late if necessary to move the project forward every day. You think this could be a vital project and your enthusiasm could very well inspire your team to taking extra care and working extra hard to understand the problem and generate alternatives. -You want to complete the assignment efficiently and effectively. You will be creating a list of tasks and assigning each team member specific responsibilities. It's important to outline a clear process at the beginning so the team understands what you expect and what they can and can't do while analyzing the problem and generating alternatives. You will reserve the final selection of alternatives for yourself, as the manager. -You recognize that your team members are likely to have some good ideas and innovative suggestions, not just about the problem but also about possible solutions. You will clarify the objectives at the outset and encourage discussion among team members to elicit their thoughts about the problem and alternatives to solve the problem.
-entrepreneurial leadership -autocratic leadership -participative leadership
Imagine you read the following statements in newspaper interviews with different entrepreneurs. Use the drop down menu to indicate whether the information in each quote is generally associated with the success or failure of a small business. -Entrepreneur A says: "If my new product doesn't catch on quickly, within the first one or two months, I'll need to borrow additional money to keep the business going until revenue increases." -Entrepreneur B says: "I learned the ins and outs of this industry while working as a consultant to executives in market-leading companies, before I decided to run a business myself." -Entrepreneur C says: "My plan is to move full speed ahead, expanding month after month as quickly as possible before competitors have a chance to copy my unique new product." -Entrepreneur D says: "My can-do attitude, coupled with my experience, skills, and resources, will help me compete with much larger firms." -Entrepreneur E says: "I'm enjoying the challenge of learning to manage a lot of people and a large payroll, which I've never done before."
-failure -success -failure -success -failure
Which of the following statements about industries that attract small businesses are true and which are false? -Knowledgeable entrepreneurs are attracted to unfamiliar industries where they can raise capital based on their skills. -Entrepreneurs who choose production industries often need to have considerable capital for initial investment. -A decreasing number of self-employed entrepreneurs run service businesses from home in the United States. -Small businesses dominate in the real estate, leasing, and rental industries.
-false -true -false -true
You are about to prepare a business plan for opening a new soup and salad restaurant. Identify which of the following statements about a business plan are true and which are false. -A business plan can help you expand beyond the limited potential of your small business. -A business plan can help you determine the potential profitability of your small business. -A business plan can help you track, measure, and assess movement toward your business's goals. -A business plan can help improve your knowledge and expertise as your small business expands. -A business plan can help you communicate with potential financial backers.
-false -true -true -false -true
Look at the following personality traits and determine if each is favorable or unfavorable for someone who wants to start a successful small business. -Someone else in my family has run a small business. -I prefer to be independent. -I prefer to avoid challenges. -I have an idea for a new product. -I prefer to work for other people.
-favorable -favorable -unfavorable -favorable -unfavorable
Before you make a decision about buying a franchise from Soup Today, use the drop down menu to identify each of the statements below as being an advantage for the franchisor or the franchisee. -Franchising under nationally advertised brands attracts customers for local outlets. -Franchising results in a well-controlled distribution of products without investing heavily to build and run local outlets. -Franchising yields royalty payments when each local entrepreneur succeeds in building sales. -Franchising allows local operators to minimize the cost of supplies and advertising by buying in cooperation with other local operators.
-franchisee -franchisor -franchisor -franchisee
Instead of starting from scratch to open your own soup and salad restaurant, you're considering whether to work with Soup Today, a company that is offering franchises nationwide. Your first step is to investigate exactly what's involved in franchising. Using the drop down menu, read each statement and indicate whether the franchisee or the franchisor is responsible for that action. -Pay a fee for the use of the brand and design of the premises. -Inspect the premises to be sure that standards are being met. -Supply and train the labor to operate the business. -Provide the necessary initial training for managing the method of doing business. -Grant a license to use trademarks and patents.
-franchisee is responsible -franchisor is responsible -franchisee is responsible -franchisor is responsible -franchisor is responsible
Newbie Food is considering whether to introduce a frequent-buyer reward program. To answer that question, you'll have to ask a lot of other questions, including the four shown below. Using the drop down menu, identify where they fit in the managerial decision-making process. -What do food trucks and snack-food stands do to encourage repeat purchasing and attract new customers on a regular basis? -How would Newbie Food define success for a reward program, and how long would the program be allowed to continue if it does not meet the success criteria? -Would introducing a frequent-buyer reward program enable Newbie to profit by appealing to a new group of customers and retaining the loyalty of current customers? -Can Newbie conduct a limited test of two different reward programs and determine the pros and cons of each before settling on a single program?
-generating alternatives -implementing and evaluating the solution -identifying the problem or opportunity -selecting an alternative
You and your team of summer interns have listed a number of steps to take during this special assignment for IBM. Use the drop down menu to indicate where each item belongs in effective managerial decision making process. -Explain how the chosen improvement could be put into practice and its effectiveness determined. -Analyze the current situation and determine what might be improved. -Think about what might prevent IBM from making each change under consideration. -Consider what would make for an ideal solution and whether "ideal" is necessary or desirable. -Look at several unconventional ideas as well as the potential solutions that come to mind quickly and easily when thinking about the problem.
-implementing and evaluating the solution -identifying the problem or opportunity -selecting an alternative -selecting an alternative -generating alternatives
Your boss, the production manager, works with four main resources of management as he plans and supervises the company's printing projects. Use the drop down menu to label each item as the type of resource it represents. -customers' specifications for the content of each printing job -budget for purchasing equipment and ink -details about where the transport printed brochures ordered by a customer -employees who operate the printing equipment -inventory of ink and paper -scheduling staff to clean equipment during periods of non-use -spare parts for equipment maintenance and repair -express shipping to get an urgent order to the customer
-informational resources -financial resources -informational resources -human resources -material resources -human Resources -material resources -financial resources
Which of the following is an advantage of external recruiting? Check all that apply.
-it brings fresh perspectives to the firm -it brings fresh skills into the firms -it can improve the technical skills available
You and your best friend have just founded a small business partnership, Newbie Food, which will offer fruit smoothies processed fresh on a food truck. The two of you have divided up your responsibilities as shown in the list below. Identify the type of resource that each item refers to. -Buying ingredients for the smoothies (Your partner's responsibility) -Equipping the food truck with high-speed smoothie blenders (Your partner's responsibility) -Supervising two part-time employees on the truck (Your partner's responsibility) -Tracking purchases on the truck (Your partner's responsibility) -Applying for a bank loan to purchase the food truck (Your responsibility) -Monitoring competitive prices for smoothies (Your responsibility) -Determining how many part-time employees will be needed in the future (Your responsibility) -Making a bank deposit with each day's receipts (Your responsibility)
-material resources -material resources -Human Resources -informational resources -financial resources -informational resources -Human Resources -financial resources
You're going to need either investors or a bank loan to help finance your new restaurant. For example, you'll be buying new kitchen equipment, as well as new dining furniture. Use the drop down menu to indicate which of the following questions investors and bankers are seeking to answer when they examine a new venture's business plan. -"How will this new business affect local employment?" -"Is this new business a good idea, and why?" -"What level of funding is needed to get this new business off the ground and keep it going?" -"What does the entrepreneur hope to accomplish with this new business?" -"How is this entrepreneur providing technical innovation?" -"Is this new business part of the distribution, service, or production industries?"
-no -yes -yes -yes -no -no
You and a group of friends enjoy playing air hockey so much, you've decided to organize a tournament as a fundraiser for a local charity. You're heading up the tournament committee. To prepare for this tournament, you and your friends must take a number of actions. Read the list of actions below and use the drop down menu to show which management process it represents. -Determine which of your friends will sell tickets, which will distribute posters to nearby dorms, and which will talk with the charity your group wants to support. -Decide what you will do if tournament ticket sales are below expectations one week before the actual date. -Get your friends excited about doing what it takes to make this tournament successful. -Prepare a contingency plan in case bad weather prevents students from attending. -Consider how much money you want to raise for the charity and make that your target. -Invite a few more friends to handle specific tasks such as publicity. -Think about how many tickets you need to sell each week in the month leading up to the tournament to reach your overall goal. -Use your position as committee head to ask for ideas and input before you make an important decision.
-organizing -controlling -leading and motivating -planning -planning -organizing -controlling -leading and motivating
As part of the planning for this air hockey tournament, you're conducting a SWOT analysis. You and your friends have brainstormed the following information. Analyze your situation by determining which is a strength, weakness, opportunity, or threat by attaching the appropriate label using the drop down menu. -You've headed up two other fundraisers and are very motivated to make this one successful. -Another group is holding its yearly foosball tournament on the date you've chosen for your first air hockey tournament. -Your friends enjoy air hockey, but they've never been involved in organizing a tournament or planning a fundraiser. -There's always a crowd around the air hockey table in the local recreation center and people have to put their names on a waiting list to reserve time to play. -Your first Facebook message about the tournament date elicited 89 likes in one hour. -You convinced two air hockey experts to make personal appearances at your tournament and demonstrate winning techniques.
-strength -threat -weakness -opportunity -opportunity -strength
Which of the following questions are illegal to ask in an interview? Select all that apply.
-what country are you from? -are you married? -have you ever been arrested? -so you are blind. How much can you see? -when did you graduate?
most often, an operational plan is for
1 year or less
Women own approximately ________ percent of all home-based businesses in the United States.
66
Which of the statements below is FALSE according to the pricing video above?
A cost leadership focus means a firm only focuses on the competition's prices
How does SCORE work?
A small business with a particular problem requests free counseling and a SCORE volunteer assists with this issue.
Which of the following does not describe an example of how small businesses contribute to the U.S. economy?
Small Business Administration centers provide counseling and financial assistance for entrepreneurs.
Whose mission statement begins as "to inspire and nurture the human spirit. . . ."?
Starbucks
If you become a franchisee of Soup Today, you will have the right to use the company's brand names, recipes, and promotional techniques when your employees cook, sell, and serve soups to customers in your local restaurant. Which of the three categories of franchising arrangements does this represent?
The franchisee makes the finished products based on the franchisor's brand and techniques.
Which of the following is NOT an advantage of a 360 degree performance appraisal?
a self assessment is the best method for determining performance
Why is communication an important part of a business plan?
as a concise document, the business plan communicated information to a potential investor or lender.
________ leadership is very task-oriented with decisions independently made.
autocratic
Toyota targets people to buy a Prius who want to save money on gasoline
behavioral segmentation
The difference between compensation and benefits is
benefits are usually received in the form of services and compensation is received as money
According to the video, all of the following are advantages of internal recruiting EXCEPT
brings fresh ideas
your buy a toy and put it in the toy donation bin at work
charity
The three basic purposes of a business plan are
communication, management, and planning
Which of the following is NOT a type of monetary compensation?
company purchased health insurance
you buy a required textbook for your accounting class
compulsory
________ skills most help managers see the "big picture".
conceptual
Distribution industries includes all of the following categories except
construction
________ leaders discuss issues with workers in the organization but retain final power and authority.
consultative
You want to involve IBM's summer interns in generating creative ideas and you want to reinforce their commitment to the project. You have decided to apply participative leadership, even though you know the young interns have been with IBM only a few weeks and have little business experience. Which type of participative leadership would be most effective in this situation?
consultative leader
Considering alternative plans of action is to develop a(n) ________ plan.
contingency
Marketing can inform potential customers about a product, promote the product, and price it at a point customers would be willing to purchase it, but marketing cannot control
customers' social values
ensure drinks target baby boomers
demographic segmentation
"Small" in regard to "small business" is defined the same in all industries.
false
A goal is an end result that an organization is expected to achieve in six months to two years.
false
All U.S. companies have some type of TQM program.
false
Formal leaders in an organization have informal power.
false
Franchise opportunities are limited to fast food establishments.
false
If you are interviewing for a job, it is important that you have done your research so that you do not have any questions at the interview.
false
Implementation of the proper decision should require little time, planning, or preparation.
false
It doesn't matter who you are selling to, your marketing mix (the 4Ps) is always the same.
false
It is not acceptable to tell the firm that you are interviewing with that you would like the job for which you are interviewing.
false
Market segmentation consists of dividing the business world into for-profit and not-for-profit markets.
false
Participative leadership is quite rare in the 2000s.
false
Record keeping for a small business is always cumbersome, challenging, and should only be handled by a professional.
false
Small-business size standards are always defined by the average annual sales.
false
The SBA does not offer financial assistance to small businesses
false
The executive summary of a business plan should be four to five pages in length.
false
The only person in an organization that really needs goals is the CEO or President
false
The process of taking a physical product out to focus groups and potential customers to get their opinions on the product is known as concept testing.
false
The word "satisfice" means to find the optimal solution to an issue or problem.
false
Put in order, the mass job extinctions we have experienced and expect to experience in the future from oldest to most recent.
farming manufacturing driving
Of the following, ________ is least likely to be a personal factor in small-business success.
gender
Raleigh targets an urban population with its city bicycle
geographic segmentation
Of the following steps, which is not a step involved in managerial decision making?
identifying threats
In the last decade, the number of small businesses in the United States has
increased 49 percent.
Alex Goldfayn said that marketing "is systematically communicating your value to people who can buy from you." Which of the following was NOT included in his explanation of this definition?
make sure your product fits a niche in the market
It's your first day as a management trainee, working for a printing company that produces color brochures and catalogs for local businesses. You assist a production manager who oversees three shift supervisors responsible for round-the-clock printing, folding, boxing, and shipping of finished brochures and catalogs. As the production manager, is your boss at the printing company a top manager, a middle manager, or a first-line manager?
middle manager
Which of the following is NOT a core function of staffing an organization?
motivating employees
you pay your water bill to the city of waco
need
you buy a Michael Kors purse because every girl at Baylor carries one
niche identity/ peer effect
The SBTN is a(n)
online training network of SBA courses, workshops, and resources.
It's your first day as a management trainee, working for a printing company that produces color brochures and catalogs for local businesses. You assist a production manager who oversees three shift supervisors responsible for round-the-clock printing, folding, boxing, and shipping of finished brochures and catalogs. You were introduced to him by the manager of campus recruiting after you went to a job fair at your college. Then you met the head of sales when you interviewed at the company office. You also met the chief financial officer and the president during your final interview. Use the drop down menu to match each manager with his or her area of management specialization. production manager manager of campus recruiting head of sales director of finance president
operations human relations marketing finance administration
In a SWOT analysis, which factors exist independently and externally of the firm?
opportunities and threats
your firm bought a new warehouse
place
Which of the following is often considered the "first" management function?
planning
your firm offers a rebate on one of its printers
price
your firm offers free interest rates on furniture purchases
price
your firm improves the batter life in one of its games
product
a firm gives away a free product to one customer a week who comments on their social media
promotion
Kelloggs targets a market with a high fiber cereal
psychographics segmentation
Employers will often call individuals and former employers to verify background information on a candidate. The names of these ----- are normally provided to the employer by the applicant.
references
your buy junk food because you went to the store hungry
situational matters
What does SBI stand for?
small business institute
According to the SBA, the most profitable U.S. companies are small firms that have been in business for more than ________ years and employ fewer than ________ people.
ten; twenty
Which of the following is not a franchisee obligation for a franchise?
the obligation to attend monthly franchise meetings
Who is responsible for the strategic planning of a company?
top management
A human resource manager is charged with managing the programs that bring and train people in the company.
true
A problem in a company can actually be considered as a "positive" problem.
true
A tactical plan is smaller in scale than a strategic plan.
true
An SBIC is a government agency that works closely with small business financing needs.
true
An SBIC is a privately-owned firm.
true
Consensus leaders seek input from many workers in the organization, possibly all workers, with their support helping form her opinion.
true
David Lee says that jobs in the future will be based on our creativity. He say our frustrations are a catalyst for creativity.
true
Firms must continually develop new products to maintain market position and profitiability.
true
Frequently, entrepreneurs with successful small businesses make the mistake of overexpansion.
true
It is actually possible to view a problem as an opportunity for a company.
true
Lower operating costs is a financial benefit of many TQM programs.
true
McDonald's is a franchise.
true
SWOT stands for strengths, weaknesses, opportunities, and threats.
true
Statistics show that most failures in small business are related to poor management.
true
The SBA is a governmental agency of the United States
true
The lack of ability to obtain capital is a primary disadvantage for small businesses.
true
The material resources of a writer may be a computer, books for research, software programs, and a printer.
true
The real estate industry has experienced a rapid increase in franchising.
true
Tony Schwartz said that employers need to stop counting hours worked, but instead focus on output and productivity.
true
When a company gathers knowledge about the competitors of the firm, they are leveraging their informational resource.
true
You and your partner at Newbie Food agree that quality is extremely important to the success of your small business. The two of you have brainstormed a number of ways to achieve and maintain total quality as you put your first food truck on the road. Which idea would be the most effective to implement right away for total quality management?
use benchmarking to determine how many customers per hour other food trucks typically serve and how many are repeat customers, so you can gauge productivity and loyalty.
Newbie Food became so successful that after the first year, you merged with another smoothie food truck and purchased a third truck to expand your territory and meet high demand. Although benchmarking was the primary tool you used for total quality management in the early months, you're ready to do more because the business is now much bigger. Which of the following ideas would not help you achieve continuous quality improvement?
use your core competencies to address external threats that may hurt the company's long-term performance.