Business Management Final Exam Review Part 1

Avery, who manages a silk-screening and embroidery business, has set a goal of increasing sales by 15% in the next six months. To reach his goal, he has increased the business's advertising budget. This is an example of the ______________ function of management. A. planning B. controlling C. organizing D. directing

A

Diana prepares bills and invoices for her company. Her career is in the area of A. corporate finance. B. marketing communications. C. securities and investments. D. professional selling.

A

Employees who have supervisory responsibilities for part or all of the business work in A. general management. B. securities and investments. C. business information management. D. merchandising.

A

Jenn has bookkeeping responsibilities at her new job. In what department does she likely work? A. Accounting B. Operations management C. Marketing research D. Securities and investments

A

Taylor works as a public relations manager. His career is in the area of A. marketing communications. B. operations management. C. professional selling. D. marketing research.

A

Textronics, Inc. manufactures and sells its computer chips in six countries. It employs over 8,000 people worldwide. Which organizational structure makes the most sense for Textronics, Inc.? A. Divisional B. Specialized C. Functional D. Matrix

A

Which industry includes brokerage firms and stock exchanges? A. Securities and investments B. Corporate finance C. Business information management D. Professional selling

A

Which of the following is the main purpose of management? A. To accomplish the business's goals B. To create a pleasant working atmosphere C. To reach a specific level of productivity D. To obtain the needed resources

A

Why do all businesses need financial resources? A. To pay operating expenses B. To negotiate bank loans C. To develop cash budgets D. To manage investment accounts

A

Why should managers know how to do the work of the workers they supervise? A. To have realistic expectations for workers B. To coordinate employees' efforts C. To create a team spirit among employees D. To establish a chain of command

A

A manager studies the business's previous sales statistics as well as the sales forecast before making purchasing decisions. What type of resource is the manager using? A. Human B. Information C. Financial D. Material

B

A manager worked to streamline the production process and was able to save the company several thousands of dollars. This is an example of how organizing A. unites company goals with the mission. B. reduces waste and improves efficiency. C. can be improved through communication. D. increases employee conflict and turnover.

B

An employee who answers phone calls and manages the office schedule works in A. general management. B. administrative services. C. human resource management. D. operations management.

B

How does organizing provide a sense of security for employees? A. They know how their work supports company goals. B. They know exactly what is expected of them. C. They do not have to duplicate work. D. They do not have to report to anyone.

B

Katharine has just been hired as a brand manager at a retail chain. Her career is in the area of A. banking services. B. marketing management. C. professional selling. D. operations management.

B

Nick is the CEO of a business. The vice presidents of marketing, product development, finance, and operations all report to him, and they each have their own teams made up of several employees. This is a __________ structure. A. divisional B. functional C. specialized D. matrix

B

Professional selling belongs in what career area? A. Sports B. Marketing C. Business management D. Finance

B

When managers are grouping related tasks into departments or teams, they are A. allocating the company's resources. B. determining the organizational structure. C. analyzing the external business environment. D. instructing employees about how to spend their time.

B

Which of the following do many businesses believe to be their most important resource? A. Equipment B. Employees C. Office supplies D. Sales revenue

B

Which of the following is a career area in finance: A. Marketing communications B. Insurance C. Professional selling D. General management

B

Who is normally responsible for purchasing the proper material resources for workers to use in doing their jobs? A. First-line workers B. Middle managers C. Top-level managers D. Supervisory managers

B

A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating A. creativity. B. natural talent. C. technical skills. D. aggressive behavior.

C

Bo's job is to choose and buy clothing for a retail store. His career is in the area of A. general management. B. marketing research. C. merchandising. D. professional selling.

C

Brianna works for a marketing agency, and she is skilled at graphic design. She spends all of her time creating graphics, rather than working on any other aspects of the marketing campaign. Brianna is A. an authoritative figure. B. allocating resources. C. a specialized worker. D. coordinating activities.

C

John has just been hired as a loan officer. His new career is in the area of A. corporate finance. B. insurance. C. banking services. D. accounting.

C

Mitch's boss placed him in charge of shipping at his company. Whenever anyone wants to ship a package, they need his approval and oversight. Mitch has A. organizing skills. B. divisional control. C. authority. D. specialization.

C

The best business career prospects are available to candidates who have A. a stockbroker's license. B. a background in accounting. C. earned a bachelor's degree. D. earned a high school diploma.

C

What management function is being described in the following situation: David Thomas, a top-level manager, identifies jobs to be performed, assigns responsibility for them, establishes departments to handle the jobs, and determines how many and which employees mid-level managers will supervise. A. Controlling B. Planning C. Organizing D. Directing

C

What must managers be able to do if they want employees to understand the business's goals and be productive? A. Ask questions B. Obtain feedback C. Communicate clearly D. Listen carefully

C

Whenever clients arrive at the Skin Solutions Dermatology office, the receptionists struggle to find their records. Clients fill out multiple forms with the same information, and they wait a long time to be seen by a doctor. Skin Solutions is losing a lot of patients quickly. This is an example of how A. organizing reduces the need for customer service. B. managers need to create strict organizational structures. C. poor organizing damages a company's reputation. D. a lack of organizing leads to employee conflict and turnover.

C

Which management function is described in the following situation: Christy Chen determines the type of workers she needs, locates qualified applicants, selects those to be hired, and assigns the new hires to a work area. A. Directing B. Controlling C. Staffing D. Planning

C

Which management function is described in the following situation: James Crane has created a team atmosphere among the members of his sales department. When the team exceeded their monthly sales goal, James rewarded them with a celebratory dinner out and a five-percent bonus. A. Planning B. Organizing C. Directing D. Controlling

C

Which of the following are examples of first-line management job titles? A. Senior vice president, chief financial officer, and regional vice president B. President, senior vice president, and chief executive officer C. Collections supervisor, crew chief, and production supervisor D. Company vice president, department head, and regional sales manager

C

Which of the following are examples of middle-management job titles? A. Floor supervisor, area supervisor, and section manager B. President, senior vice president, and chief executive officer C. District manager, department head, and regional sales manager D. Collections supervisor, crew chief, and production supervisor

C

Which of the following are examples of top-level management job titles? A. District manager, department head, and regional sales manager B. Collections supervisor, crew chief, and production supervisor C. President, senior vice president, and chief executive officer D. Floor supervisor, area supervisor, and section manager

C

Which of the following industries exists to protect individuals and businesses from financial losses: A. Marketing research B. Operations management C. Insurance D. Accounting

C

Which of the following is a career area in business? A. Entertainment B. Health care C. Marketing D. Mathematics

C

Which of the following is an important function of mid-level management? A. To establish long-term objectives for the company B. To make sure projects meet deadlines C. To serve as a link between top-level and first-line management D. To prepare workers' daily schedules

C

Which of the following tasks would a manager complete when organizing: A. Training staff B. Hiring employees C. Arranging an office space D. Writing a marketing plan

C

A company has a goal to launch a new product. After setting this goal, company management needs to A. evaluate the effectiveness of this goal. B. assign tasks to different departments. C. design an organizational chart. D. determine the work needed to accomplish it.

D

A manager evaluates the production output of a department by checking it against the production goals for that time period. This is an example of the ______________ function of management. A. organizing B. directing C. planning D. controlling

D

A small-business manager who considers how a one-person reduction in office staff could impact the rest of his/her company is demonstrating A. job-knowledge skills. B. interpersonal skills. C. technical skills. D. conceptual skills.

D

An organization with a wide span of control usually A. does not give managers enough direct reports. B. uses a divisional organizational structure. C. gives little control to the CEO. D. has a lack of middle managers.

D

Employees who look for meaningful clues about what customers want and why they want it work in A. administrative services. B. insurance. C. securities and investments. D. marketing research.

D

Jared was just hired for a new job. The employee who interviewed him and took him through the hiring process works in A. operations management. B. banking services. C. marketing management. D. human resource management.

D

Jill's company just took on a new project, and she knows that she needs to decide which staff members will be in charge of each aspect of the project. Jill is A. planning. B. controlling. C. staffing. D. organizing.

D

Learning new job skills or updating your current job skills is known as A. An internship. B. a bachelor's degree. C. licensing. D. professional development.

D

Organizing can help companies handle issues with __________ so employees know to whom to report and who is responsible for what. A. efficiency B. tracking C. reputation D. authority

D

Under what circumstances would a company adopt a matrix organizational structure? A. It has fewer than 50 employees. B. It has offices in several cities. C. It has mostly inexperienced employees. D. It frequently uses cross-functional teams.

D

Which of the following is a benefit of the division of labor? A. Professional development B. Teamwork opportunities C. More direct oversight D. Increased efficiency

D

Which of the following is a career area in business management? A. Accounting B. Insurance C. Professional selling D. Business information management

D

Which of the following is a career area in marketing? A. General management B. Banking services C. Administrative services D. Merchandising

D

Which of the following skills is at the core of most business activities: A. Creativity B. Math skills C. Computer/Technology skills D. Communication skills

D

Which of the following statements about first-line management is true: A. First-line managers never work side-by-side with their employees. B. There are normally fewer first-line managers than middle or top-level managers. C. First-line managers are not responsible for carrying out middle management's plans. D. Businesses typically hire their first-line managers from inside the company.

D

Why do top-level managers usually receive high salaries? A. They have more experience than others in the company. B. They are required to attend a great many meetings. C. Their responsibilities involve hands-on supervision. D. Their decisions affect the entire company.

D