BUS-110 Final Exam Review

_____ is the settling of a labor-management dispute by having a third party make a binding decision.

Arbitration

According to equity theory, if employees perceive that an inequity exists, they may:

Change their work habits

Human resource management is the process of _____ people in order to achieve organizational goals.

Doing all of the above (hiring, developing, motivating, and evaluating)

A kennel designed for boarding small dogs has current assets of $8,000, current liabilities of $2,000, and fixed assets of $25,000. The small company has a current ratio of:

4

Management involves:

All of the above (organizing, controlling, leadership, and planning)

Accounting provides a framework for looking at:

All of the above (past performance, current financial health, possible future performance, and financial performances of different firms)

Mandy Ewing has been working as a veterinarian's assistant for almost a year. Her friend recently told that her employee was in violation of the _____ because she was not being paid the minimum wage.

Fair Labor Standards Act

Unemployment compensation pays employees for lost work time caused by work-related injuries.

False (this describers worker's comp)

Which two different leadership styles use empowerment?

Laissez-faire and participative

_____ theory states that people do things because they know that certain consequences will follow.

Reinforcement

All the accounting personnel at a large construction company work 10 hour days Monday through Thursday and then get a three-day weekend. This construction company permits _____ for its accounting department.

a compressed work week

A short-term loan from a bank, supplier, or others that must be repaid within a year is a(n):

account payable

Employers set up _____ to expand job opportunities for women and minorities.

affirmative action programs

A(n) _____ is a yearly document that describes a firm's financial status and usually discusses a firm's financial activities during the past year and its prospects for the future.

annual report

Operations managers:

are accurately described by all of the above (Control about three-fourths of firm's assets, work closely with people in marketing, finance, accounting, and human resources departments; Help to decide which products the company should produce, and face the challenge of combining people and other resources to produce high-quality products.)

Hans Guten makes furniture according to the specifications of the customer who ordered it. Each piece of furniture he makes is unique. He only makes one piece of furniture at a time. Guten is engaged in:

customization

Luca Villanova has a major decision to make about how to increase attendance for the professional soccer team he owns. He wants to call his players and coaches together, generate alternatives, and come up with a solution by mutual agreement and vote. His style of leadership is called:

democratic (participative)

One of the three basic functions performed by the Equal Employment Opportunity Commission is:

developing diversity management plans

According to Theory X, workers _____ their work.

dislike every facet of

Computer-aided design (CAD) can be used to:

do all of the above (draw products, make changes in products, analyze products, and test prototypes)

The first type of training and development a new employee will be exposed to is:

employee orientation

In employee selection, the initial screening consists of two stages. They are the:

employment application form and the preliminary interview

A current asset is one that can or will be converted into cash within one year.

True

Technical skills are usually utilized at the lower levels of the organization.

True

_____ means that a portion of an employee's pay is directly linked to an individual or organizational performance measure.

Variable pay

Andy Pearson ran PepsiCo Inc. for nearly 15 years, driving revenues from $1 billion to $8 billion. In 1980, Fortunenamed him one of the 10 toughest bosses in the United States. Pearson was singled out for the relentless demands that he put on his people. As one employee put it, Pearson's talents were often "brutally abrasive." Every year, without hesitation, he fired the least productive 10% to 20% of his workforce. Pearson used a(n) _____ leadership style.

autocratic

Dewayne Gibbons of Burger King decided to introduce a new sliced chicken sandwich without consulting any of his subordinates or the franchise. Managers who use this style of decision making exhibit the _____ style of leadership.

autocratic

Among managers there are three distinctive leadership styles. They are:

autocratic, participative, and free-rein

Middle managers usually:

carry out plans and policies of top management

The belief behind employee ownership is the idea that it will:

cause employees to act more like partners than clock watchers

Airline stewards in China will remove someone from the plane if they attempt to bring their own food with them. Instead, passengers must buy the food sold on the plane. The stewardesses have been given _____ power to deal with passengers who won't obey the rules.

coercive

Asan Linhoud has a major decision to make regarding whether to create a new sales territory or simply add customers to existing territories. He asks for suggestions from his sales reps but will make his own decision. This style of leadership is called:

consultative

A clothing wholesaler that buys most of its inventory from manufacturers in the Caribbean should have a _____ plan in the event a hurricane demolishes the manufacturing facility of one of its principal suppliers.

contingency

Jon Schwartz is an electrical engineer. He works as a temporary worker for a contracting company that builds germ-free rooms for university researchers. While he likes the extra income, he would much rather stay home and work on the novel he is writing. His wife earns a six-figure income so money is not an issue. Schwartz is an example of a(n):

contingent worker

A system that utilizes long production runs resulting in high-volume, standardized products is called a(n) _____ process.

continuous

Total quality management focuses on:

continuous improvement

Creative Good is a 35-person strategy-consulting firm that believes you must create a good employee experience to offer a good customer experience. Toward this goal, Creative Good focuses on collaborative workshops, full-staff meetings, and a company-wide emphasis on relationships and communication--from the customer to the client, to the employees of Creative Good, and to the company's leaders. This description represents the _____ of Creative Good.

corporate culture

The founder and current CEO of Whole Foods Markets wears cut-off jeans to work. He is a vegetarian, an outspoken proponent of green marketing, and a person who believes in eating organic foods. His views and beliefs have shaped the _____ of the supermarket chain, and all employees are expected to agree with these tenets.

corporate culture

If a customer at a Target store brings a purchase to checkout, and the item is not priced, the clerk at the register can ask the customer what the price is. If the price is $25 or less, the clerk does not have to do a price check. The clerk has been given the authority to trust the customer to have quoted the correct price. This sort of discretionary power is called:

empowerment

Oscar Ramirez's job has been redesigned. He has more authority and responsibility and feels the job now is very challenging to him. The company has used job _____ to challenge Ramirez.

enrichment

Medical diagnostic equipment specialist Georgiana Rutland was asked to attend a medical conference in which the attendees discussed new uses for laser technology in diagnosing certain types of cancer. Rutland exerted considerable influence over the decisions to adopt the laser technology because of her _____ power.

expert

Bill Nielsen works as a graphic designer. He arrives at work at 7 a.m. and goes home at 3 p.m. One of Nielsen's co-workers who performs the same job as he does arrives at work at 10 a.m. and goes home at 6 p.m. Yet another co-worker arrives at 9 a.m. and leaves work at 5 p.m. From this brief description, you should realize that Nielsen's employer uses:

flextime

At IBM, the MDX group is at a crossroad about how to market a new software package. Judy Ramsby, the head of the group, has told the group of managers that "it is up to the group. As long as they don't violate company policy, the decisions are up to them." Judy Ramsby is practicing a(n) _____ leadership style.

free rein

According to Herzberg, to keep a worker satisfied or motivated, the manager should:

give recognition to the employee

Leadership is:

guiding others to achieve specific goals

During a typical employee performance appraisal, the employee's supervisor evaluates the employee's work in terms of:

his or her contribution to the organization

The goal of inventory management is to:

hold down costs and maintain accurate levels of inventory

Kent Huston is a middle manager at a management consulting company. He has the ability to negotiate, impress the right people, and make the right connections. Huston has _____ skills.

human relations

Dottie Beauchamp recently was hired by PetSmart to help recruit, select, and train new employees to work in its stores. Beauchamp has a job in:

human resource management

A flexible manufacturing system (FMS) combines all of the following EXCEPT:

human resources

Which of the following is an example of a trend in human resource management?

improving efficiency through outsourcing

A(n) _____ is a summary of what a company has earned and spent over a given period.

income statement

When manager Mariah Pitner delivered the company's financial report to local bankers and analysts, she was acting in a(n) _____ role.

informational

The three basic roles of management are:

interpersonal, decisional, and informational

An apprenticeship:

is accurately described by all of the above (is a form of on-the-job training, also involves classroom training, can last as long as four years, and is commonly found in the skilled trades of plumbing and electrical work)

Collective bargaining:

is the process of negotiating labor agreements

A _____ shop is a manufacturing firm that engages in customization.

job

A _____ is a study of the tasks required to do a particular job well.

job analysis

One of the documents that help human resource planners find the right person for a specific job is a list of tasks and responsibilities required of the job. This document is known as a:

job description

In 2006, The Home Depot laid off 300 workers in its home office. Even though the workers have left, the same amount of work needs to be done. This sort of company downsizing often leads to:

job enlargement

Crown Holdings Inc. manufactures a high-resolution, full color digital inkjet printed cans that allows smaller beverage producers to label the cans as they are needed to be filled rather than keeping a stock of preprinted cans. This is an example of how a beverage company could use:

just-in-time

A few years ago, when Coca-Cola introduced Fruitopia beverage, it spent $30 million and set what it thought was achievable sales goals. Since its introduction, Fruitopia has not been able to achieve its sales goals and has lost money for Coke. According to the concept of _____, Coke should delete the product.

lean manufacturing

According to Theory Y, workers _____ their work.

like delegation and responsibility in

A _____ union is a branch union that represents a specified area or even a specific plant.

local

Management's refusal to let workers enter a plant or building to work is a:

lockout

The Theory Z style of management emphasizes:

long-term employment

In _____, goods are produced using mass production techniques up to a point. Then production is custom tailored to the needs or desires of individual customers.

mass customization

A _____ is a formal document that states an organization's purpose and reason for existing and describes its basic philosophy.

mission statement

According to Frederick Taylor's scientific management theory, the most important motivator in the workplace is:

money

Gantt charts are most helpful when:

only a few tasks are involved

If a unionized company has a(n) ______ shop, the workers do not have to join the union, and they do not pay dues or fees to the union.

open

Beyond all the publicity around a recent government audit about the lack of oversight by the Federal Aviation Administration (FAA) is another problem that has not received much publicity. Quality control is not being maintained when an airline engages a contractor to work on an engine, who in turn signs up a subcontractor to work on one part of the engine. This example represents a problem with:

outsourcing

Many companies keep a continuously updated list of inventory levels, orders, sales, and receipts. This is called a(n) _____ inventory.

perpetual

When union members carry signs and march near the entrance of their employer to publicize their view of the dispute and discourage customers, they are engaging in:

picketing

Accountants employed within organizations are called:

private accountants

The purchasing function, sometimes called _____, is an important part of any firm's production strategy.

procurement

The three main types of facility layouts are:

product, process, and fixed-position

Managers typically follow five steps in the decision-making process. The first step is to:

recognize or define the problem or opportunity

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. Its primary challenge will be to convince the 2,000 employees it inherited from the government-owned facility to work more efficiently. Manila Water sought to boost employee morale by linking pay to performance. In other words, management has used its _____ power to improve employee productivity.

reward

At Children's Hospital in Denver, good attendance is encouraged by recognizing staff members who have not missed work in the previous three months. At three-month intervals, at staff meetings, the names of those who have not missed work that quarter are announced. These employees are given ribbons of excellence, perfect attendance pins, prizes, tote bags, alarm clocks, gift certificates or movie tickets. As an added incentive, the person with the longest record of perfect attendance is allowed to choose first from the list of "gifts." This is an example of how _____ are used in association with the ______ theory.

rewards; reinforcement

Julia Li is a low-level manager for a manufacturer of collectible plates and figurines. She is assigned new jobs every few months so she can learn all aspects of her company's operations. Management is utilizing the concept of job _____ in training Li.

rotation

According to Maslow, people need to feel secure, to be protected from physical harm, and to avoid the unexpected. These needs are called _____ needs.

safety

A _____ strategy is a union strategy of conducting a strike at a critical plant that supplies parts to other plants.

selective strike

Allyson Cooke is a union member and an employee of a company that manufactures surgical equipment. She believes she has a grievance because her supervisor made her work an hour longer than usual for several days and has refused to pay her any overtime. Cooke should contact her _____, who represents union members to management when workers have complaints.

shop steward

Protected classes are:

specific groups that are protected against employment discrimination

A(n) _____ is a summary of the money flowing into and out of a firm.

statement of cash flows

Dean Jager is in charge of the volunteer staff at the Booth Western Art Museum. He makes the work assignments, determines work schedules, and makes sure the museum uses all of its volunteer staff efficiently. Jager is a _____ manager.

supervisory

Most firms have three distinguishable levels of management. They are:

supervisory, middle, and top

Some of the quickest emergency assistance to victims of Hurricane Katrina did not come from the American Red Cross or FEMA. It came from Wal-Mart. Millions of people were displaced or otherwise affected by the Gulf Coast calamity. Many waited for days as agencies struggled to provide assistance. Wal-Mart moved faster than traditional emergency aid groups because the retail giant has mastered:

supply chain management

A group of management consultants is studying OGSI Manufacturing and its team management strategy. Once Pete Jazoni's work group was selected for special attention by the management consultants, the work group's production output nearly doubled. Jazoni's group's reaction to the special attention is an example of:

the Hawthorne effect

According to expectancy theory, the probability of an individual acting a particular way depends on the strength of the individual's belief that:

the act will have a particular outcome and on whether the individual values that outcome

Hershey's hot cocoa mix combines dry milk, whey, corn syrup, processed cocoa, aspartame, and artificial flavorings and colors. This conversion process is an example of:

the assembly process

In a retail store, a point-of-sale (POS) terminal would be used to:

track inventories

A company with a demographic employee profile that looks like its customers can often gain a competitive advantage.

true

A study of the tasks required to do a job well is called a job analysis.

true

Financial incentives that allow variability in compensation to reflect an individual employee's contribution are generally known as pay-for-performance programs.

true

Production converts inputs into outputs by changing the inputs in some way.

true

Profit sharing, gain sharing, and stock options are all forms of variable pay.

true

A company that is experimenting with flextime, telecommuting, and job sharing is interested in:

work-scheduling options needed to retain quality employees

A falling box injured Beatrice Hix while she was helping to unload a truckload of aquariums for her employer, a pet store operator. She is receiving pay for lost work time due to the work-related injury. _____ paid her for her lost work time.

worker's compensation