Quiz 6 Combines (PT.2)

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Which of the following is a disadvantages associated with the flexible manufacturing system (FMS)?

An FMS is initially expensive.

_____ is the set of values, ideas, attitudes, and symbols created to shape human behavior.

Culture

_____ is a computerized resource planning system that includes information about the firm's suppliers and customers as well as data generated internally.

Enterprise resource planning (ERP)

A listing of the components and the number of each required to make the product is called the bill of lading.

False

According to Maslow's hierarchy of need, the most basic needs are the social needs.

False

Equity theory is a theory of motivation that focuses on the link between motivation and organizational culture.

False

Human resources managers have yet to find any use for Maslow's hierarchy of needs.

False

In Herzberg's model, salary and fringe benefits are job satisfiers.

False

Market behavior is a term used to describe the actions people take in buying and using goods and services.

False

Networking links make it easier for someone outside an organization to gain access to a computer's information.

False

One-to-one marketing is synonymous with database marketing

False

One-to-one marketing is synonymous with database marketing.

False

Operations management refers to the role that computers play in the production process.

False

Podcasts are significantly different from blogs.

False

Prestige pricing is the pricing strategy of selling a new product at a low price in hopes of achieving a large sales volume and prestige for the product.

False

Price skimming is a price strategy often used in the maturity stage of the product life cycle.

False

The critical path method (CPM) is used to design, test, and modify new and existing products.

False

The final stage of the selling process is closing the sale.

False

The five P's are product, promotion, price, people and possession.

False

The frequent reference to Chili's restaurants on the television show The Office is probably an example of co-marketing.

False

The reason that Castle and Cooke processes and packages Dole pineapple products in Hawaii is more than likely because of low energy costs.

False

The two types of business products are classified as expense and non-expense items.

False

With the goal-setting theory, managers have learned that easier goals motivate more effectively than challenging ones.

False

The _____ is a 1993 law that requires employers to provide unpaid leave for up to twelve weeks.

Family and Medical Leave Act

_____ deals with reporting to outsiders. _____ accounting deals with the internal operations of the firm.

Financial accounting; Managerial accounting

Motivation and maintenance factors are essential parts of a job-satisfier theory formulated by:

Frederick Herzberg

The father of scientific management was:

Frederick Taylor

_____ skills refer to a manager's ability to operate in diverse cultural environments.

Global management

_____ allows people with PCs or other types of machines connected to the Internet to donate processor cycles to the search for extraterrestrial life. This process involves sifting through the static of deep space on billions of radio channels looking for stray signals that are generated by alien civilizations.

Grid computing

A ______ is a formal complaint, by an employee or by the union that management has violated some part of the contract.

Grievance

_____ could be used to explain why members of the night shift at a textile mill refuse to fill openings on the day shift even though most of the people who work at the plant feel day work is preferable to night work.

Group cohesiveness

_____ is the process of hiring, developing, motivating, and evaluating people in order to achieve organizational goals.

Human Resource Management

The ratios that are of special interest to the firm's creditors and measure the firm's ability to pay short-term debts as they come due are called _____ ratios.

Liquidity

Penny Clovis works as a maintenance supervisor for a large hotel. She is new in her position and the first woman to ever hold this position for this hotel chain. Clovis has become increasingly concerned about negative statements she has overheard like, "Well, Penny's promotion should get the affirmative action people off our back for awhile." According to the definition, does Clovis have a grievance?

NO. She does not have a grievance because there is no contract violation here.

_____ is arrived at by subtracting current liabilities from current assets.

Net working capital

Current assets, such as marketable securities and inventory, usually are expected to be turned into cash within:

One Year

_____ involves creating a unique marketing mix for every consumer.

One-to-One Marketing

_____ is the process of arranging the structures and relationships of human and material resources to carry out an organization's plans.

Organizing

Which of the following statements describes an advantage that personal selling has over other forms of promotion?

Personal selling is considerably more effective at creating a satisfied customer than other forms of promotion.

The three basic roles of management are:

Planning, Organizing, Controlling

_____ is the number of different target consumers who are exposed to a commercial at least once during a specific period, usually four weeks.

Reach

_____ involves presenting an accurate and positive image of the firm to those it is recruiting for jobs.

Recruitment Branding

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

Reinforcement

Wes Johnston overheard his manager say, "Work is as natural as play, and workers seek more job responsibility." This statement supports:

Theory Y assumptions

Which of the following statements about Theory Z style of management is true?

Theory Z contains many elements from Japanese management.

A knowledge-based work force is qualitatively different from a skills-based work force.

True

A local area network (LAN) connects computers at one site and enables their users to exchange data and share hardware and software from a variety of computer manufacturers.

True

Basing market decisions on what a product will do rather than on consumer characteristics is called benefit segmentation.

True

Blogs provide marketers with a real-time dialogue with customers and an avenue to promote their products.

True

Computer-aided manufacturing (CAM) uses computers to develop and control the production process.

True

Lumber mills are located near the forests in the Northwest to save shipping costs and to be near their raw material.

True

Marketing is the process of combining the conception, pricing, promotion, and distribution of goods or services to create exchanges that satisfy individual and organizational objectives.

True

Robots are especially useful for repetitive tasks such as cutting sheet metal and spot welding.

True

Sales promotion, advertising, and public relations are elements of the promotion strategy.

True

Scientific management is based on economic incentives and the premise that there is "one best way" to perform any job.

True

Selling retirement plans to people over the age of 50 is an example of demographic segmentation.

True

Supply chain management plays a dual role. Its first role is as a communicator of customer demand that extends from the point of sale all the way back to the supplier. The second role is as a physical flow process that engineers timely and effective movement of products.

True

The Theory Z approach emphasizes long-term employment.

True

The first step in the consumer decision-making process for buying sandals would be for the weather to turn hot and me to realize I have no footwear that doesn't make my feet sweat.

True

The informal organization can help the formal organization to achieve its goals.

True

The marketing concept emphasizes a consumer orientation.

True

The rewarding of a bonus for finishing a job proposal in a timely fashion would demonstrate how reinforcement theory can be used to motivate employees.

True

The strategy that is based on the demand for the product and the cost of producing it is called the pricing strategy.

True

When Clorox targets heavy users of bleach, it is using volume segmentation.

True

When the manufacturer of Dove soap introduced Dove moisturizing body wash, it was an example of the use of a line extension strategy.

True

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

Variable pay

_____ are distribution channel members that buy finished products from manufacturers and sell them to retailers.

Wholesalers

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.

Workman's Comp

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

Which of the following is an example of an industrial service?

a management consulting company

Which of the following manufacturers would be most likely to use a product layout?

a motorcycle manufacturer

_____ is the gap between what is and what is required.

a need

An apprenticeship:

a program that trains a worker to become skilled in a particular trade.

Which of the following is the BEST example of a consumer product?

a textbook purchased by a student taking this class

Which of the following factors has an effect on the size of a manager's span of control?

ability of the manager to delegate responsibility

Amounts owed to the firm by customers who bought goods and services on credit are called:

accounts receivable

The process of packing 3 16-ounce bottles of Hershey chocolate syrup in super-sized packages like those sold at Sam's and Costco is an example of:

accumulating

Which of the following is NOT a popular form of sales promotion?

advertising

In a(n) ______ shop, the worker does not have to join the union but must pay dues to cover union expenses.

agency

A person who works as a sales representative for a manufacturer or wholesaler and gets paid a commission on any sales is classified a(n):

agent

Which of the following factors can be used to create an atmosphere in a store that sells sports memorabilia?

all of the above

Which of the following factors will be important in the selection of a site for a production facility?

all of the above

Which of the following is an example of an advertising medium?

all of the above

Which of the following organizations would analyze their market environments, find a competitive advantage, and create a marketing mix?

all of the above

According to the goal-setting theory,:

all of the above are true

Which of the following is a type of sales promotion?

all of these

Which of the following is NOT one of the current trends in business management today?

application of the expectancy theory

A(n) _____ is a service company that buys and maintains software on its servers and distributes it through high-speed networks to subscribers for a set period of time and a predetermined price.

application service provider

Industrial supplies:

are accurately described by all of the above

One of the biggest shortcomings of Gantt charts is that they:

are static

The product layout is sometimes called the _____ layout.

assembly-line

Which of the following calculations is a formal expression of the accounting equation?

assets = liabilities + owners' equity

PERT charts differ from critical path method (CPM) in one important way. PERT charts _____, and the CPM does not.

assign three time estimates for each activity

Price is:

based on the expected value you will receive from your purchase

Which of the following is a consumer durable?

bedroom dresser

A recent seminar on attracting retail customers addressed the following fact: "Time is on the mind of the consumer. If you ask anybody you know, 'Would you rather have an extra day off or an extra day's pay?' people in America would take the time off 2-to-1." This topic indicates that these retailers supported a need for more _____ segmentation to reach the time-poor consumer.

benefit

The 7-member Dover family recently purchased a mini-van because the ads for a Plymouth Horizon showed that it could haul 8 or more people and still have room for books, bags, and sports equipment. Plymouth Horizon was using what form of segmentation with its advertising?

benefit

Which of the following is a consumer nondurable?

breakfast cereal

Roy Petrie is a flower wholesaler. He buys fresh flowers from countries in South America, divides the large batches into small bunches, and delivers them to independent florists. This process is called:

breaking bulk

A(n) _____ are go-betweens that bring buyers and sellers together.

broker

The Springwood Inn offers a package of room, breakfast, and parking for $225.00. This strategy is called:

bundling

Which of the following is a current trend in production and operations management?

business process management (BPM)

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

Rego-Fix is a metalworking manufacturing company in Switzerland. The company primarily manufactures grinding machines in different size ranges. Rego-Fix has reduced setup time and change-over costs through the establishment of small, self-contained production units with teams who produce specific machines on small assembly lines. Rego-Fix uses:

cellular manufacturing

What is the salesperson doing when, after his presentation is over, he asks, "May I call the company and place your order for 20 cases of Ecco brand golfing shoes?"

closing the sale

What is the salesperson doing when, after his presentation is over, he asks, "May I call the company and place your order for 20 cases of Ecco brand golfing shoes?"

closing the sale RATIONALE: See Exhibit 12.5 Steps in Making a Successful Sale

The letters CAD stand for:

computer-aided design

The ability to view an organization as a whole, to understand how the various parts fit together, and how it relates to other organizations is a(n) _____ skill.

conceptual

Which of the following is NOT a step performed by the salesperson during the selling process?

conducting market research

Which of the following is NOT a step performed by the salesperson during the selling process? demonstrating the product following up on the sale handling objections conducting market research prospecting and qualifying

conducting market research

Which one of the following is NOT a commonly used method for segmenting markets?

consumer

What are the two distinct markets toward which sales promotions can be targeted?

consumers and members of the marketing channel

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

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

continuous

Cherokee Spring Mill produces four varieties of corn meal based on how finely the corn is ground. The mill makes long production runs of high volume. Cherokee Spring Mill uses a(n) _____ process.

continuous

Total quality management focuses on:

continuous improvement

A relatively inexpensive item that requires very little shopping effort is called a _____ product.

convenience

Haley Optics manufactures lens used in cameras, binoculars, and scientific equipment. It had sales of $300,000 during the last quarter. Its gross profit sold was $120,000. On an income statement, an accountant would classify the remaining $180,000 as:

cost of goods sold

The goal of cellular manufacturing is to:

create a team environment

The _____ is an important scheduling tool for large projects. It breaks the projects into a sequence of events and smaller tasks.

critical path method

A short story describing how reluctant British citizens are to play party games that might result in them looking foolish is an example of how _____ shapes human behavior.

culture

The United States Army retains a history of all equipment acquisition from approval of requirements through funding, authorizing, fielding, and maintenance to equipment retirement. This data would be kept in a(n):

data mart

data nugget

Cerner Corporation has created a(n) _____ containing the medical records of more than 400,000 people who received treatment at more than 200 different emergency rooms. It can be used to help emergency room physicians make decisions about what kind of treatment to give their patients.

database

A basic form of market segmentation that uses such variables as age, education, and income is called:

demographic

The acceptable turnover ratio is:

different for each industry

A firm with a _____ has its ability to provide a unique product or service that offers something of value to buyers besides simply a lower price.

differential competitive advantage

There are numerous office supplies manufacturers. U.S.-based Esselte concentrates on selling filing products and desktop products such as staplers and pen sets. Because the Esselte brand is recognized as an innovative leader in the development of filing products and desktop items, the company can be said to have a(n):

differential competitive advantage

John Sgromolo works for the 20th-largest accounting firm in the United States, but he's not an accountant. He works with hard drives and various other types of computer equipment strewn across several desks. Sgromolo, spends his days culling together bits and pieces of data people think they have erased from existence months, even years, before. His findings have been used in cyber-crime cases and murder investigations. Sgromolo engages in:

digital forensics

Victorinox is the name of the company that manufacturers Swiss army knives. The _____ channel the company utilizes to get its knives to market is to wholesalers, than to retailers, and finally to consumers.

distribution

When the producers of Ocean Spray cranberry products decided to make Craisins (a dried cranberry snack food) available in convenience stores, supermarkets, and vending machines, it was involved with determining _____ strategy.

distribution

Which of the following is NOT an element of the promotional mix?

distribution

The _____ is a series of marketing entities through which goods and services pass on their way from producers to end-users

distribution channel

Based on the expectancy theory, managers who want to motivate their employees should:

do all of the above

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

do all of the above

Companies that are trying to lower employee absenteeism are:

doing all of the above

Computers can enhance accounting by:

doing all of these

When an operations manager engages in _____, he or she has purchased raw material or component parts on the Internet.

e-procurement

The Occupational Safety and Health Act requires:

employers to comply with safety and health standards and regulations promulgated by OSHA or by a state with an OSHA-approved state plan.

The idea that employees are motivated by their expectations, or estimates of chances for reward, is called the _____ theory.

expectancy

A company that is centralized has given a great deal of decision-making authority to lower-level managers.

false

Managerial accounting provides information that would probably be most beneficial to:

financial analysts

Products that are difficult to move out of a plant once they are manufactured, such as ocean-going vessels and room-sized murals, are usually manufactured in a _____ layout.

fixed-position

What is the final step in the selling process?

following up on sales

To ensure accuracy and consistency in the way financial information is reported, accountants follow rules known as:

generally accepted accounting principles

Selling more rainwear in Seattle than in San Diego due to the annual rainfall is an example of which type of marketing segmentation?

geographic

When Canada Dry first introduced Wink soda in the 1960s, it used the slogan, "Join the cola dropouts." The purpose of this advertising campaign was most likely to:

get customers to try the new product

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

give recognition to employee

Disney World is the epitome of customer service and empowerment. Empowerment is a religion there. Employees are thoroughly trained and then told that they have the authority to do whatever is necessary to deal with problems on the spot in order to make customers happy. In fact, management interference is discouraged. Based on this information, you know that Disney relies on _____ theory to motivate its employees.

goal-setting

The difference between net sales and cost of goods sold is:

gross profit

U.S. Carburetion Inc. makes natural gas and gasoline powered generators. Assume the company had $100,000 in net sales for the week of September 11th. Cost of goods sold was $42,000. On an income statement, the remaining $58,000 would be classified as:

gross profit

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

In Herzberg's theory, salary is an example of a(n):

hygiene factor

The two types of retailing are:

in-store and nonstore

Which goal are airlines trying to achieve when they use frequent flyer programs, which give customers points that can be redeemed for free travel, rental cars, and other merchandise?

increase the amount and frequency of use

A large, expensive capital product, such as the Corvette manufacturing plant in Kentucky and Cumberland Mall, is called a(n):

installation

Manufacturing resource planning II (MRPII):

is a complex computerized system for generating production plans

Programmed instruction:

is a self-paced, highly structured training method

Integrated marketing communications (IMC):

is accurately described by all of the above

A company that reupholsters furniture in fabric and style selected by the owner of the piece of furniture is more than likely an example of a:

job shop

A manufacturer that uses the intermittent process to produce special customer orders is called a:

job shop

A(n) _____ is a manufacturing firm that produces goods in response to customized orders.

job shop

Which of the following is NOT an example of a convenience product?

lawn furniture

The physical arrangement of a production facility is called its:

layout

Mazda once included a solar powered ventilation system on its cars. A solar panel on the roof powered a pair of fans near the trunk, which automatically turned on when the temperature in the car reached 90 degrees. Because customers were not willing to pay for this benefit and did not complain when it was no longer available, Mazda discontinued it. This is an example of:

lean manufacturing

A _____ organization is a design with direct, clear lines of authority and communication flowing from the top managers downward.

line

Ocean Spray first introduced cranberry juice drinks. Then it introduced Cranapple (a cranberry and apple juice mix) also sold under the Ocean Spray brand. This is an example of a:

line extension

The maker of Centrum multivitamins introduced Centrum Silver, a vitamin designed specifically for older people. Centrum Silver is an example of a _____, a product that uses an existing brand name in an existing category but with a new formula.

line extension

A network that connects computers at one site is called a(n):

local area network

The Theory Z style of management emphasizes:

long-term employment

The _____ is the belief that the firm should dedicate all of its planning, policies, operations, and efforts to the satisfaction of the customer.

marketing concept

Within the distribution channel, retailers and wholesalers are called:

marketing intermediaries

The _____ is based on the five P's.

marketing mix

The ability to manufacture many goods at once is called _____ production.

mass

There is a facility in California that takes off-the-shelf Ford Mustangs and hones them into high-performance vehicles. The assembly line at this facility is simply a line of cars on hand-pushed carts that are moved from station to station, but many of the operations that are typically performed in an assembly plant do take place here. Using this system the company has turned out over 8,000 vehicles, more than any other American specialty vehicle manufacturer. This is an example of:

mass customization

A(n) _____ organization is characterized by a relatively high degree of job specialization, rigid departmentalization, many layers of management, narrow spans of control, centralized decision making, and a long chain of command.

mechanistic

American Pet Pro purchases pet grooming supplies from various manufacturers, sorts them, and resells them to retailers. American Pet Pro is a(n) _____ wholesaler.

merchant

Independent wholesalers that buy goods from manufacturers on their own account and then resell them to other businesses are:

merchant wholesalers

Which of the following benefits do unions almost never stress in an organizing campaign?

more job satisfaction

After all expenses have been subtracted from revenues on an income statement, the final figure or bottom line is called the _____ when it is a negative number.

net loss

After all expenses have been subtracted from revenues on an income statement, the final figure or bottom line is called the _____ when it is a positive number.

net profit

Which of the following is NOT really a financial ratio though it is often used to measure a firm's overall liquidity?

net working capital

Another term for owners' equity is:

net worth

Which of the following is an example of in-store retailing?

none of the above

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

note receivable

A(n) _____ is a retail store that sells at prices 25 percent or more below traditional department store prices in spartan environments.

off-price retailer

Current assets, such as marketable securities and inventory, usually are expected to be turned into cash within:

one year

Fixed assets are property and buildings that a firm expects to use for more than:

one year

Robin Banyan applied for a job at Shane Printing, which is unionized. She was told that she need not join the union and did not have to pay union dues if she did not want to. Shane Printing's labor contract supports a(n) _____ shop.

open

Which of the following is NOT a type of ratio analysis used by managers to interpret the numbers in financial statements?

operating

The Library is a new bar in town. Unlike the other bars in town, it charges no cover charge. The new bar has also priced its beer at $3 less per pitcher than its competition. Given what you know about pricing strategies, which pricing strategy is the owner of the new bar using?

penetration pricing

With a _____ policy, a company offers new products at a low price in the hope of achieving a large sales volume.

penetration pricing

One of the major financial burdens for many companies is the need to provide and maintain funds to provide benefits needed by former employees. One of the ways that Delta Airline tried to avoid bankruptcy was by reducing the payout from this fund because returns on investments were not keeping pace with the number of retirees and their benefit demands. This example reflects a problem with:

pension funds

Which of the following is considered an expense item for a dentist's office?

peroxide for whitening teeth

In the newspaper comics, Cathy is often seen talking to a department store clerk who is trying to persuade her that she needs to buy a new wardrobe. The clerk is engaged in:

personal selling

Which of the following is an example of an individual factor that influences the consumer decision-making process?

personality

Bart Pietz works as a paramedic. Because he has just worked a plane crash and has been 20 hours without rest, he is extremely sleepy. Pietz needs to satisfy his _____ need.

physiological

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

Human resource _____ is the creation of a strategy for meeting future human resource needs.

planning

Boulders, building trusses, and lead ingots would not make good mediums of exchange because they lack the key characteristic of:

portability

The blend of the marketer's tools is called the five Ps. Which of the following is NOT one of the five Ps?

possession strategy

According to Herzberg, hygiene factors are:

potential job dissatisfiers

There are a lot of talented people. Many singers who have not been discovered are as talented or more so than some of the best-known musical artists. For instance, pricing a musical act at $20,000 when a small community arts center can get just as great an entertainment experience for its audience for $5,000 is an example of:

prestige pricing

The two new-product pricing strategies most often used by marketers are:

price skimming and penetration pricing

A pharmaceutical company with headquarters in India sells fluconazole, the generic version of Pfizer's anti-fungal drug Diflucan internationally for significantly less money than many U.S. generic drug manufacturers. The generic drugs industry in this country needs to rethink its _____ strategy to stay competitive.

pricing

Maria Manow is planning to sell handmade quilts over the Internet. As she decides what to charge for a full-sized quilt, Manow will calculate her fixed and variable costs. At this point, Manow will be developing her _____ strategy.

pricing

The Financial Accounting Standards Board (FASB) is a:

private organization that is responsible for establishing financial accounting standards in the United States

A (n) _____ is any good or service that satisfies wants, along with its perceived attributes and benefits.

product

Vegetarians have the upper hand in Mumbai, India, where not eating meat is a centuries-old tradition. In a booming Indian economy, the vegetarians are outnumbering the meat-eaters in many metropolitan areas. In response to this growing vegetarianism (especially among the middle class), franchises like Pizza Hut have created 100 percent vegetarian menus. By eliminating all meat from pizzas, the Indian Pizza Huts have engaged in a _____ strategy.

product

Mike and Ike, the fruit-flavored chewy candies, needed a major facelift. The brand had a small but loyal core of "munchers." A relatively small brand, it needed visibility to take on share leaders like Starburst and Skittles. The company changed its packaging and developed contests all geared to 12- to 17-year-olds. The makers of Mike and Ike have modified its _____ strategies.

product and promotion

During production planning, the operations manager must make decisions about all of the following EXCEPT:

product design

The _____ is the person who develops and implements a complete strategy and marketing program for a specific product or brand

product manager

The _____ is the person who develops and implements a complete strategy and marketing program for a specific product or brand.

product manager

In August 2006, the manufacturer of Cross pens introduced the golden toned Verve pen as featured in the Stormbreaker film. In James Bond fashion, the Cross pen serves as one of the key gadgets in the film. The use of the Cross pen is an example

product placement

The brand name Cover Girl appeared in a young adult novel called Cathy's Book: If Found Call (650) 266-8233. One sentence in the book reads: "a killer coat of Lipslicks, a line of Cover Girl lip glosses. Procter &Gamble promoted the novel at beinggirl.com Web site in exchange for the mention. This is an example of"

product placement

product placement RATIONALE: Product placement is paid inclusion of brands in mass media programming.

Channels of distribution make distribution easier by performing all of the following functions EXCEPT:

production

A CAD/CAM system is a(n):

production design and control system

Personal selling, advertising, public relations, and sales promotions are decisions made when planning the _____ strategy.

promotion

Lee Robi has developed an electronic lice comb that tells whether head lice are present by emitting an audible sign. Robi has mailed promotional flyers on the lice comb to all the school districts in the nation. He has also run ads in several different women's magazine. This describes the _____ strategy that Robi used.

promotional

The sales process begins with the salesperson locating companies or people who are most likely to buy the seller's offerings. This activity is called:

prospecting

People with common Activities, interests, and opinions are grouped together into a given lifestyle. A company that segments its market according to these different lifestyles is using _____ segmentation.

psychographic

Miller Nwagi will not ride in elevators because he perceives them to be confining boxes that could fall. He refused to visit a store, which was selling his favorite brand of pipe tobacco, because the store could only be reached with an elevator. This would be an example of how _____ influences determine consumer buying decisions

psychological

National Geographic Magazine brought a bit of nature to New York as part of a week-long event promoting the magazine's October 2006 cover story on parks. The magazine hosted an interactive photography exhibit, which celebrated international and national parks. Invitations to representatives of the news media were an attempt to use which element of the promotional mix?

public relations

When Nike donated $25,000 to a low-income area to provide job training, it received free and positive _____ in the news media.

publicity

The process of creating quality standards and measuring finished goods and services against standards is called:

quality control

The unprocessed corn used as the primary ingredient in many brands of dog food is an example of:

raw material

Expense items that have undergone little or no processing and are used in the manufacture of end products are called:

raw materials

_____ is the number of different target consumers who are exposed to a commercial at least once during a specific period, usually four weeks.

reach

In which of the following industries are you most likely to find a broker?

real estate

Federal Reserve banks must hold a certain portion of their deposits in reserve. This percentage is called the:

reserve requirement

Which of the following terms equals the total profits of a company minus all dividends (distributions of profits) to stockholders?

retained earnings

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

The two key aspects of production control are:

routing and scheduling

During the growth stage of the product life cycle,:

sales grow at an increasing rate, and profits are healthy

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

screening

Benefit

segmentation is based on what the product will do rather than on consumer characteristics.

The first step in the new products planning process is:

setting new-product goals

Products that are bought after comparing price, suitability, quality, and style are called _____ products.

shopping

Which of the following is a characteristic of the intermittent process?

short production runs

A strategy of charging a high introductory price for a new product that invites eventual competition is called price:

skimming

In Maslow's theory, the need to belong to informal social groups both on and off the job is an example of _____ needs.

social

A retailer would separate children's clothing purchased from Carter's into various sizes and types of clothing, such as size 6 shirts, size 2T shorts, and size 4T sun dresses. This process is called:

sorting out

Cristos Hatzienmmanuil worked to make the Olympics in Athens a success. As a manager of the Olympic venues, he had 20 people who reported directly to him. His _____ is twenty.

span of control

A _____ product is a product for which consumers may search long and hard and for which they refuse to accept substitutes.

specialty

The quality control engineer at a petrochemical refinery is in a _____ position.

staff

Ruth Hu recently inherited $200,000. She has invested the inherited money in real estate and government securities. Hu is using her money as a:

store of value

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

The lowest level of management, which usually has the most people to manage, is called _____ management.

supervisory

In general, when a business is engaged in environmental scanning, it looks at all of the following external forces that might affect it EXCEPT:

suppliers

Electronic data interchange (EDI) is an important communications tool for:

supply chain management

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

Finding a place to live in Mumbai, India, has been getting harder these days for people who are not vegetarians. Vegetarianism is a centuries-old custom among the Indian population, but the requirement is becoming more obvious as non-vegs are being segregated from vegs. A real estate broker in Mumbai who will only rent or sell a home to a vegetarian as defined that group as its:

target market

The _____ is a specific group of consumers toward which a firm directs its marketing efforts.

target market

Topik is a product that is sprayed on thinning hair and makes the hair appear thicker. The manufacturer considers its potential market to be blue-collar workers who earn less than $30,000 per year, are divorced, and who like to think of themselves as weekend athletes. The manufacturer of Topik considers this group to be its:

target market

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

task-oriented

Life Savers Gummies Fruit Splosions, liquid-filled gummies combined with a burst of real fruit juice, are a new product for The Wrigley Co.. Before marketing the product nationwide, Wrigley gave out samples of the candy at several rock concerts and then recorded consumers' feelings about the candy, its taste, and its name. In which stage of the new-product development process would this have happened?

test marketing

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 _____, workers respond to attention from superiors, and they like their opinions to be valued.

the Hawthorne effect

On a statement of cash flows for a pizza restaurant, the cash flows from investment activities section would include:

the brick oven stove used to cook the pizzas

On a statement of cash flows for a manufacturer of digital thermometers, the cash flows from investment activities section would include:

the sale of land adjacent to the manufacturer's administrative office building

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. In terms of the managerial hierarchy, its president Antonino Aquino is in _____ management.

top

Arranging a firm's human and material resources to carry out plans is called organizing.

true

Managers can use equity theory to improve worker satisfaction.

true

Managers must act in interpersonal, informational, and decisional roles.

true

Planning is the process of deciding what needs to be done to achieve organizational objectives; identifying when and how it will be done, and determining by whom it should be done.

true

The nature of the task and the location of the workers affect the size of a manager's span of control.

true

The skills, knowledge, and abilities a person must have to fill a job are spelled out in a job specification.

true

Training workers by changing and varying jobs is called job rotation.

true

The four major groupings of consumer products are:

unsought, convenience, shopping, and specialty

When compared to the consumer market, the business-to-business market:

uses more direct channels of distribution

When compared to the consumer market, the business-to-business market: is more geographically dispersed is accurately described by all of these. bases buying decision more on emotions than rational thought uses more direct channels of distribution is lower in volume

uses more direct channels of distribution

What is the primary difference between a merchant wholesaler and an agent?

whether it takes title to the product

Frederick Taylor's scientific management emphasized:

work efficiency

According to the Hawthorne effect,:

workers respond to being paid attention to

A company that specializes in planning parties for children had $7,000 worth of inventory on January 1, 2018, and it had $5,000 worth of inventory on December 31, 2018. If its cost of goods sold for that period was $3,000, and its net profit was $9,000, what was its inventory to turnover ratio?

2 times

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:

Managerial accounting provides information that would probably be most beneficial to:

A manager of the Company

_____ is the gap between what is and what is required.

A need

The Financial Accounting Standards Board (FASB) is currently:

A private, non for profit organization standard setting body whose primary purpose is to establish and improve generally accepted accounting principles within the United States in the public's interest.

_____ is the gap between what is and what is desired, and _____ is the gap between what is and what is required.

A want; a need

_____ ratios reflect the speed with which resources are converted to cash or sales.

Activity

Which of the following statements about the accounting profession is true?

All of the above statement about the accounting profession are true.

Which of the following statements about corporate culture is true?

All of the above statements about corporate culture are true.

Which of the following statements about knowledge workers is true?

All of the statements about knowledge workers are true.

What do the United Way, the Sierra Club, the Girl Scouts of America, and the American Red Cross have in common? They all have a target market. They all engage in not-for-profit marketing. All of these statements describe ways in which the organizations are similar. They all have created a marketing mix They all engage in environmental scanning.

All of these statements describe ways in which the organizations are similar.

Things of value owned by a firm are called its:

Assets

The Federal Deposit Insurance Corporation (FDIC): 1. is an independent, quasi-public corporation 2. is backed by the full faith and credit of the United States government A. is backed by the full faith and credit of the United States government B. is accurately described by all of these C. insures deposits in commercial banks and thrift institutions up to a ceiling of $250,000 per account D. is an independent, quasi-public corporation

B. is accurately described by all of these

_____ is the process of negotiating labor agreements between union members and management.

Bargaining Agreement

_____ segmentation is based on what the product will do rather than on consumer characteristics.

Benefit

_____ is the system used to record a firm's financial transactions in a routine and clerical process.

Bookkeeping

Which of the following is a consumer nondurable?

Breakfast Cereal

_____ is the breaking down of large shipments of similar merchandise into smaller, more usable quantities that can be sold to consumers and end users.

Breaking bulk

_____ bring buyers and sellers together, do not title to merchandise, receive commission on sales; and have little say over company sales policies.

Brokers

_____ is the action that people take in buying and using goods and services.

Buyer behavior

_____ is the action that people take in buying and using goods and services. Group of answer choices

Buyer behavior

Price is:

Capturing value and is everything a buyer gives up in exchange for the product

Which of the following statements about computer networks is true?

Computer networks include clients and servers.

_____ uses a computer to design and test new products and modify existing ones.

Computer-aided design

_____ is the process of ensuring that the organization's objectives are being met and of correcting deviations from the plan.

Control

Aldi is a no-frills grocery chain. It sells grocery staples right out of crates and boxes. By controlling expenses, Aldi customers can expect to save 30 to 50 percent compared to Kroger customers. The supermarket chain's emphasis on maintaining its cost competitive advantage means the company's top management is often concentrating on its _____ strategy.

Cost competitive Advantage

_____ are debts that are to be paid within twelve months.

Current liabilities

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.

Customer Value

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.

Customer value

A basic form of market segmentation that uses such variables as age, education, and income is called:

Demographic Shenshen Zhongxing Telecom (ZTE)

_____ is the process of distributing the original cost of a long-term asset over the years of its useful life.

Depreciation

Differential competitive advantage

_____ is the efficient management of the acquisition of raw materials to the factory and the movement of products from the producer to industrial users and consumers.

Distribution

How do distribution channels improve product distribution?

Distribution channels reduce the number of transactions needed to get the product from the manufacturer to the consumer

Theories X and Y management styles are the result of studies by:

Douglas McGregor

Pricing products below the normal markup or even below cost to attract customers is called bait pricing.

False

Publicity is any information that a company issues to the media that is paid for by the company.

False

Salespeople typically use brainstorming to look for sales prospects, those people who are most likely to buy the seller's offerings.

False

Scientific management focused primarily on how human behavior and relations affect organizational performance.

False

_____ deals with reporting to outsiders. _____ accounting deals with the internal operations of the firm.

Financial Accounting and Managerial Accounting

Which of the following statements about forms of variable pay are true?

Gain-sharing is a motivational plan based on group productivity.

_____ is the process of hiring, developing, motivating, and evaluating people in order to achieve organizational goals.

Human resource management

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

Income Statement

Which of the following statements about international banking is true?

International banking is a high-risk business.

The _____ role of a manager consists of relationships with other people as figurehead, leader, and liaison.

Interpersonal

_____ is the expansion of the number of tasks and variety of tasks performed by a worker.

Job enlargement

_____ is the horizontal expansion of an employee's job.

Job enlargement

_____ is the redesign of a job to provide workers with more authority, responsibility, challenge, and the opportunity for more personal achievement is called:

Job enrichment

Which of the following statements about knowledge management is true?

Knowledge management focuses on gathering and sharing an organization's collective knowledge to improve productivity and foster innovation.

____ contribute to and benefit from information that use in performing, acquiring, searching, analyzing, organizing, storing, programming, producing, distributing, marketing, or selling functions.

Knowledge workers

_____ is the process of guiding and motivating others toward the achievement of organizational goals.

Leadership

_____ is the process of guiding the development, maintenance, and allocation of resources needed to attain organizational goals.

Management

No matter what the crisis, there are some basic guidelines managers should follow to minimize the negative outcomes. Which of the following is an example of one of those guidelines?

Managers should ask for help if it is needed.

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

Managing

_____ is the division of markets into different groups

Market Segmentation

_____ is the process of separating, identifying, and evaluating the layers of a market to design a marketing mix.

Market segmentation

_____ are temporary investments of excess cash in bonds and stocks that can readily be converted into cash.

Marketable securities

The _____ is based on the five P's.

Marketing

_____ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Marketing

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them.

Marketing concept

An organization's _____ is its general purpose or reason for existence.

Mission

_____ is the management of the production conversion process for both goods and services.

Operations management

_____ involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals.

Organizing

_____ pricing is the strategy of increasing the price of a product so that consumers will perceive it being of higher value.

Prestige

A (n) _____ is any good or service that satisfies wants, along with its perceived attributes and benefits.

Product

The process that products go through as they pass through their introduction, growth, maturity, and decline stages is called the:

Product Life Cycle

_____ is the process that converts inputs into outputs that can be sold as goods and services.

Production

Reisner, Inc., is a small company that manufacturers egg cartons. It has a sales force of fifteen who sell all over the U.S. Last year the company exceeded its predicted sales by almost $25,000. Forty percent of these added sales were divided equally among Reisner's salespeople. Reisner used a(n) _____ to reward its salespeople.

Profit Sharing Plan

_____ are independent accountants who serve organizations and individuals on a fee basis.

Public accountants

_____ involves calculating and interpreting financial ratios taken from the firm's financial statements in order to assess its condition and performance.

Ratio Analysis

_____ is the attempt to find and attract qualified job applicants in the external labor market.

Recruitment

When faced with an employee performance problem, managers tend to experience two primary emotions: anxiety and anger; anxiety, because the situation often leads to conflict, and anger because the manager realizes, "I did not create this problem. The employee did." No matter how well an attendance policy is written, there are those who will abuse it or push the limits. _____ theory can be used to acknowledge positive behavior with rewards and encourage others to improve their sub-par performance.

Reinforcement

_____ skills refer to a manager's ability to operate in diverse cultural environments.

Relations

_____ is a strategy that focuses on forging long-term partnerships with customers.

Relationship marketing

When your boss gives you a raise, he or she is using _____ power.

Reward

_____ is the technology involved in designing, constructing, and operating computer-controlled machines that can perform tasks independently.

Robotics

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

Screening

_____ is the process of determining which persons in the applicant pool possess the qualifications necessary to be successful on the job.

Selection

The tool most widely used in making hiring decisions is the:

Selection Interview

A strategy of charging a high introductory price for a new product that invites eventual competition is called price:

Skimming

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

Statement of Cash Flow

_____ planning is the creation of long-range, comprehensive objectives and the development of long-term courses of action.

Strategic

Accounting involves the _____ of the financial activities for firms.

Summarizing

The lowest level of management, which usually has the most people to manage, is called _____ management.

Supervisory

In general, when a business is engaged in environmental scanning, it looks at all of the following external forces that might affect it EXCEPT: political and legal forces demographic forces the economy technology suppliers

Suppliers

_____ focuses on smoothing transitions along the supply chain so that the firm can satisfy its customers with quality products and services while focusing on forging tighter bonds with its suppliers.

Supply chain management

Target Market

The specialized knowledge and ability that a person brings to a job, such as computer programming, is called a(n) ______ skill.

Technical

The Sarbanes-Oxley Act:

The Act contains provisions affecting corporate governance, risk management, auditing, and financial reporting of public companies, including provisions intended to deter and punish corporate accounting fraud and corruption.

On a statement of cash flows for a pizza restaurant, the cash flows from investment activities section would include:

The recipes used by the restaurant

Which of the following statements about computer viruses is true?

Viruses copy themselves onto other software.

Which of the following companies would be LEAST likely to use the continuous process?

a bakery

How has the Sarbanes-Oxley Act affected accountants?

a creation of additional responsibility to the accountants.

Ennis Worth has a six-month loan for $7,500 that he used to refurbish the fishing boat he uses to earn his living. This loan is an example of:

a current liability

The channels through which advertising is carried to prospective customers are advertising:

advertising media

Which of the following is a step in the new-product development process?

all of the above

The _____ is a list of components and number of each needed for file cabinets that a manufacturing company will produce.

bill of materials

To stay a market leader in the confectionary industry, Jelly Belly, the jelly bean manufacturer, must keep coming up with new flavors. In 2006, it released its Soda Pop Shoppe collection, which was developed after company employees were asked to suggest as many potential new jelly beans tastes as they could without being criticized for any of their ideas, no matter how outlandish. What method did Jelly Belly use to come up with this new product line?

brainstorming

When Gene O'Hare went online to plan his vacation to Australia, he learned that he could buy plane tickets, rent a car, and pay for a hotel in a reduced-price tourist package, which made it very convenient for him to book his trip. The Web site O'Hare visited used _____ to make trip planning easier and more economical.

bundling

Business products are classified into two categories. Large, expensive items with long life spans are called _____ products, and; smaller, less expensive items with short life spans are called _____ products.

capital; expense

An accountant who has a bachelor's degree, passes a test prepared by the professional organization AICPA, and has a certain number of years of on-the-job training becomes a:

certified public accountant

When a person at a lower level skips a level in the organization chart and consults his or her boss's boss, that person is said to be violating the:

chain of command

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

change their work habits

Which of the following is NOT a form of variable pay?

commissions

Radial tires installed on four-wheel drive vehicles are examples of:

component parts

The owner of Mercury Appraisal Company held a ribbon-cutting event when he opened his new business. He invited city dignitaries, representatives from all the news media, and anyone who might have need of his services to the event. The goal of his promotion was most likely to:

create awareness

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

Synergy Oil and Gas builds oil-well drilling platforms to customer and government specifications. These platforms can cost as much as $1 billion. Synergy works on one platform at a time, and when it is finished, moves its crew to a new project. Synergy engages in:

customization

The _____ ratio measures the relationship between the amount of debt financing and the amount of equity financing.

debt-to-equity RATIONALE: The debt-to-equity ratio measures the relationship between the amount of debt financing and the amount of equity financing.

Bo Riley pays his rent and utility bills each month by writing checks. Riley is using a _____ account

demand deposit

What type of market segmentation strategy was Kimberly-Clark, the manufacturer of Huggies diapers, using when it introduced Poise and Depend brands for adults?

demographic

The first step in performance planning and appraisal is to:

determine the reasons your organization wants to evaluate employee performance.

differential competitive advantage

Leon Georges works in the warehouse for a manufacturer of air-purification systems. He is responsible for the transportation of metal components, preformed plastic, etc. used to manufacture the systems as well as the efficient movement of the finished systems from the manufacturing facility to the warehouse to distribution trucks. Georges is involved in:

distribution

The chain of manufacturer, agent, wholesaler, and retailer through which items like x-ray machines, dental equipment, and safety goggles flow is called a(n) ______ channel.

distribution

Public relations departments:

do all of the above

Manufacturing resource planning II (MRPII):

does all of the above

Jan Carlzon, former president of Scandinavian Airlines (SAS), has said that one of the greatest fears executives have is that employees will "give away the store" to satisfy complaining customers. From this statement, it would appear that Carlzon was opposed to:

empowerment

The three major categories of applications supplied by application service providers are:

enterprise applications, collaborative applications, and applications for personal use

A(n) _____ is an internal Web site that provides proprietary corporate information to a defined user group.

enterprise portal

In a survey of middle-level managers in service industries, a majority stated that employees have an inherent distrust of managers and will respond to instructions only if they perceive their treatment to be fair. This statement indicates the managers would be most successful using the _____ to motivate their employees.

equity theory

A manager in a centralized organization tends to allow subordinates to assume authority and to make most of the decisions.

false

Publicity is any information that a company issues to the media that is paid for by the company.

false

Salespeople typically use brainstorming to look for sales prospects, those people who are most likely to buy the seller's offerings.

false

Strategic planning is long-range, formulated by top management, and made as if the company operated in a vacuum

false

The frequent reference to Chili's restaurants on the television show The Office is probably an example of co-marketing.

false

There is no way to embrace any one of the characteristics of a virtual corporation without embracing them all.

false

Which of the following is an example of a social factor that influences the consumer decision-making process?

family

The first step in controlling is to

find out how the organization went about its business

In 2006, the retail industry voted the Bike Gallery as one of the top 100 bicycle retailers in the United States. It recently purchased a truckload of Thule brand bike racks from the manufacturer. Until the Bike Gallery pays the bill, the purchase will be carried on Thule's books as a(n):

fixed liability

A marketer that took the city and the climate into consideration as marketing variables would be concerned about _____ segmentation.

geographic

Given the trend toward employee empowerment in the workplace, more and more employees are finding the _____ theory useful.

goal-setting

A company that needs access to high-end computing resources periodically but has little money to spend on such a project can use:

grid computing

Which of the following is an example of an individual factor that influences Bil Naggin's decision to buy a Sharps black powder cartridge rifle?

his desire to experience what it was like to be a Civil War soldier

Which of the following is an example of nonstore retailing?

home shopping network

The purpose of reengineering is to:

identify and abandon the outdated rules and fundamental assumptions that guide current business operations

One criticism of Herzberg's motivator and hygiene theory is that it:

ignores the impact of situational variables

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

improving efficiency through outsourcing

Which of the following is NOT a current trend in management and leadership?

increasing dependence on autocratic leadership

The two types of distribution channels are:

industrial and consumer

A bank is engaged in _____ when it accepts the farmer's deposit of $127,000, and then makes a business loan of $50,000 to a small business owner. Group of answer choices

intermediary banking

By dividing cost of goods sold by the average inventory to measure the speed with which inventory moves through the firm and is turned into sales, the _____ ratio is calculated.

inventory turnover

Business process management (BPM):

involves breaking a complex product, service, or process into smaller pieces that can be created independently and then combined quickly to make a whole

Supply chain management:

is accurately described by none of the above

Marketing research

is the collection, recording, and analysis of data important in marketing and communicating that information to management.

Market segmentation

is the division of markets into different groups

Frequency

is the number of times an individual is exposed to an ad.

Marketing

is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

Customer value

is the ratio of benefits to the sacrifice necessary to obtain those benefits.

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

Kohber is a Swiss-company that makes medical equipment. It recently purchased a company, which manufactures packaging for high-value drugs. Since it will run the packaging company as a separate division, it would seem that Kohber is departmentalized by:

product

The _____ is the combination of advertising, personal selling, sales promotion, and public relations used to promote a product.

promotional mix

The first step in the selling process is to:

prospect and qualifying

The Financial Accounting Standards Board (FASB) is currently:

pushing for major changes in GAAP

Customer satisfaction:

refers to the customer's feeling that a product has met or exceeded expectations

The dollar amount of sales plus any other income received from sources like interest and dividends is called:

revenues

A product that passes test-marketing is ready for market introduction, which is called _____, a step that requires extensive logistical coordination.

rollout

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

selective strike

Which of the following is NOT a characteristic of an intermittent process?

standardized products

Elton Mayo, America's first industrial psychologist, was responsible for formulating:

the explanation of the Hawthorne effect

Cerner Corporation has created a(n) ______ that helps emergency room physicians make decisions about what kind of treatment to give their patients. The system contains the medical records of more than 400,000 people who received treatment at more than 200 different emergency rooms. By comparing inputted information about a patient with information stored in the system, doctors can get a diagnosis and suggestions as to possible treatments.

transaction processing system

Which type of information system is used only by operational managers?

transaction processing system

A knowledge-based work force is qualitatively different from a skills-based work force.

true

A manager who makes one-directional decisions and seeks no input from her subordinates can be described as having an autocratic leadership style.

true

For most corporations, physical-distribution activities are usually the responsibility of the marketing department.

true

Human resource management is the process of hiring, developing, motivating, and evaluating people in order to achieve organizational goals.

true

In deciding how to pay workers, the firm must be concerned with the salaries paid by competitors.

true

Replacing human effort with robots is most effective for tasks requiring consistency, accuracy, and speed.

true

Service companies generally use a repetitive or intermittent production process rather than the continuous process.

true

One useful tool for routing is _____, where production managers "map" the flow from suppliers through the factory to customers.

value-stream mapping

The categories of heavy, moderate, and light users have to do with which type of segmentation?

volume

Steps in the new product development process

1. Idea Generation 2. Screening 3. Business Analysis 4. Development 5. Test Marketing 6. Commercialization

Stages of Product Life Cycle

1. Introduction 2. Growth 3. Maturity 4. Decline

The four functions of management?

1. Planning 2. Organizing 3. Leading 4. Controlling

When nurses at Children's Memorial Medical Center were asked what makes a great place to work. They responded with, "Great places to work have leaders that listen to staff feedback and act upon it. At great places to work, staff value developing their job expertise, actively support teamwork, are passionate about providing quality service, and are not afraid to take risks and try innovative approaches. Mutual respect is the interpersonal chemistry that produces a collegial environment that inspires excellence at great places to work." From this information, it appears that the nurses would also appreciate a _____ approach to management.

Theory Y

What do Gantt charts and PERT charts have in common?

They are both common scheduling tools for complex situations.

_____ is the action that people take in buying and using goods and services.

Trade

A distribution channel is a series of marketing entities through which goods and services pass on their way from producers to end users.

True

A product is any good or service, along with its perceived attributes and benefits, that satisfies wants.

True

A retailer is showing concern for a store's atmosphere when he considers the type of store fixtures to have, the size and type of signage to use, the type of background music to play, and the number and type of employees to hire.

True

A target market is a specific group of consumers toward whom a firm directs its marketing effort.

True

Agents are sales representatives for manufacturers or wholesalers and usually are hired on a commission basis.

True

An example of nonstore retailing is the vending machine from which you purchased a soda.

True

An intermediary that takes possession and title of goods is called a merchant wholesaler.

True

Business process management provides businesses with a unified system of operation.

True

Chewing gum, flashlight batteries, sewing needles, and adhesive tape are considered convenience products.

True

For most corporations, physical-distribution activities are usually the responsibility of the marketing department.

True

In the product development process, most companies utilize the concepts of brainstorming, screening, and test marketing.

True

Information promotion is more common in the early stages of the product life cycle.

True

Public relations is the term used for any communication or activity designed to win goodwill or prestige for a company or person.

True

The goal of all promotion is to stimulate action.

True

The idea behind bundling is to reach a segment of the market that would not be reached as effectively if the product were sold separately.

True

Transmissions purchased by the Snapper Inc. to build riding lawn mowers are called component parts.

True

Types of promotional goals include creating awareness, increasing the use of products, and identifying potential customers.

True

By helping to eliminate critical errors and allowing nonprofits to stay focused on their primary missions of improving communities throughout California, nonprofit information specialists play a critical role and have a significant impact on work in the nonprofit sector. The nonprofit information specialist is frequently the first resource that board members, staff, and volunteers of nonprofit organizations, as well as the general public, contact to find answers to their questions. Trained NIS (nonprofit information services) staff must understand nonprofit culture and terminology and know the experts in a field to be able to give questioners appropriate information, community resources, Web sites, or consultant referrals. NIS staff use _____ to improve productivity and foster innovation.

knowledge management

A Theory X manager would assume his or her workers are:

lazy employees who can't be trusted

The pricing strategy of marking products below normal markup or even below cost to attract customers to a store where they would not otherwise shop is called _____ pricing.

leader

DaimlerChrysler decided not to build a $750 million plant in southeast Georgia in spite of the state spending $24 million to purchase the property and an additional $36 million to prepare the site specifically for DaimlerChrysler. The _____ offered was not enough to convince DaimlerChrysler that the Georgia site was a good location for its factory.

local incentives

A continuous production process has all of the following characteristics EXCEPT:

low volume

A manufacturers' representative is sometimes called a(n):

manufacturer' agent

Which of the following is NOT a type of retailer?

manufacturers' representative

In selling telephone service, AT&T tries to gather as much information as possible about the consumer's income, buying habits, service preferences, and occupation. AT&T is utilizing:

marketing research

The channels through which advertising is carried to prospective customers are advertising:

media

Which of the following is an example of a liability that might be owned by an antique mall?

money owed to utility companies

The Art Institute, a school for training artists to be financially self-sufficient, has a debt-to-equity ratio of 120 percent. This means the school has:

more debt than equity

Shenshen Zhongxing Telecom (ZTE) is a Chinese company that is the only telecommunications company in China that produces and markets an inexpensive camera phone to sell to middle class Chinese living in urban areas. Because ZTE targets a single segment within a limited geographical area, it can be said to have a(n):

niche competitive advantage

The Accent Modification Center helps upwardly mobile international professionals smooth accents that may be holding them back from getting that next promotion. The business's target market is from the growing Asian population in Virginia. The center has developed a(n):

niche competitive advantage

Jay Pontiac, an auto dealer, wanted to develop a service reminder program in the form of brochures that could be sent to individual customers. On the cover of each individualized brochure was an image of the customer's vehicle, the customer's name, and vehicle model name. Inside was the vehicle's estimated current mileage at the time of the mailing. Recommended services for that vehicle based on the estimated mileage were also included. Detailed service information was provided in the service history section of the brochure. On the back of the brochure were four coupons directly related to the service recommendations. Jay Pontiac used:

one-to-one marketing

Ethan Djuna is a territorial salesperson for Lennox heating and air conditioning systems. Every six months Djuna's sales manager gives him feedback by showing Djuna a comparison between his actual sales figures and his sales objectives. This feedback is called a _____ appraisal.

performance

place

pricing

The Theory X approach to management builds on the idea that worker and organizational interests are congruent.

False

_____ are incentive programs based on group productivity. Employees share in the financial gains attributed to the increased productivity of their group.

Gain-sharing plans

_____ charts are bar graphs that are plotted on a time line to show the relationship between scheduled and actual production.

Gantt

_____ is the vertical expansion of an employee's job.

Job enrichment

Fourteen million office workers in the US have their online activities under constant surveillance, according to the Denver-based Privacy Foundation. Worldwide, it reckons the number of employees under such surveillance totals around 27 million people. According to the foundation's Workplace Surveillance Project the low cost of snooping technology is the main reason why employers are employing a _____approach to management.

Theory X

The _____ style of management is based on a pessimistic view of human nature and assumes that the average person dislikes work, will try to avoid work, prefers to be directed, avoids responsibility, and wants security above all else.

Theory X

Feedback is very important to the successful application of the goal-setting theory.

True

In Herzberg's model, potential job dissatisfiers are called hygiene factors.

True

Motivation is basically a need-satisfying process.

True

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

True

The critical path method is a sophisticated scheduling system that is based on the minimum time the project will take to complete.

True

Theory X managers view their workers as untrustworthy and unmotivated.

True

Training workers by changing and varying jobs is called job rotation.

True

_____ is responsible for identifying the Theory Z style of management.

William Ouchi

An example of a provider of exceptional customer service is L.L. Bean, Inc. One of its employees actually drove 500 miles from Maine to New York to deliver a canoe to a customer who was leaving on a trip. The employee was able to perform this task with the support of L.L. Bean because the catalog retailer believes strongly in:

empowerment

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

The equity theory is concerned with:

how fairly a worker is treated compared to coworkers

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

human resources

According to Herzberg, _____ factors must be present to prevent work dissatisfaction, but these factors cannot serve as a source of satisfaction or motivation.

hygiene

Managers can use equity theory to:

improve worker satisfaction

In a typical set-up, American companies will employ Chinese firms to enter handwritten cards into electronic databases, but the English skills of the Chinese can only take them so far with sloppy American handwriting. Then the Chinese (or sometimes the American companies) hire Lakota Express, a company that uses Native Americans who live on a reservation in South Dakota to pick up the slack and to vet the often imperfect work. What kind of work does Lakota Express do?

outsourcing

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

A manufacturing company in which industrial engineers have maximized efficiency by determining the best way to perform every task from tightening a bolt to operating a forklift would be illustrative of:

scientific management

In Herzberg's model, which of the following would be an example of a hygiene factor?

supervision

Safeway Stores has installed dashboard computers in their trucks to monitor the delivery truck drivers as they work their routes. Safeway is checking on drivers to make sure they are working. This mistrust of employees derives from trust in the veracity of:

the Theory X style of management

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

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