Unit 2 test review Intro to Business

Select all that apply Regardless of the size of the organization, the principles of organizing include: Multiple select question. recognizing employee strengths knowing that change in the environment doesn't affect internal structures deciding what work needs to be done dividing up the tasks to be done

deciding what work needs to be done dividing up the tasks to be done recognizing employee strengths

Multiple Select Question Select all that apply Important decisions to be made while designing an organization include: Multiple select question. degree of centralization the budgeting process span of control departmentalization

degree of centralization span of control departmentalization

According to Blank______, a company buys raw materials in bulk so that the average cost of goods goes down as the production levels increase. Multiple choice question. economies of scale core competencies the law of diminishing returns the law of mass production

economies of scale

When GM and Ford Motor Company introduced large factories and mass production, the cost of building each car declined. This effect exemplifies Blank______. Multiple choice question. economies of scale departmentalization job specialization law of diminishing returns

economies of scale

Technological changes have had such a great impact on the Blank______ that this segment of the American economy will likely never employ as many people as it did in the 1950s. Multiple choice question. services industry manufacturing industry banking and finance industry electronics industry

manufacturing industry

In an organization, Blank______ establish a vision and corporate values, while Blank______ carry out that vision. Multiple choice question. managers; leaders leaders; managers a board of directors; leaders supervisors; employees

leaders; managers

Creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business in order to improve its effectiveness and efficiency is the definition of Blank______. Multiple choice question. empowerment motivation leadership management

leadership

Using less human effort, less manufacturing space, less investment in tools, and less engineering time is the basic premise of Blank______. Multiple choice question. flexible manufacturing mass customization lean manufacturing computer-aided manufacturing

lean manufacturing

Because of the evolving business environment, including more global competition, technological innovations, and changing customer expectations, what has become a critical management function? Multiple choice question. reducing customer expectations learning how to manage change decreasing employee workload creating a stable business environment

learning how to manage change

The type of organization that has direct two-way lines of responsibility, authority, and communication from the top down, with everyone reporting to one supervisor is called a Blank______. Multiple choice question. tall organization line organization line and staff organization staff organization

line organization

According to Fayol's order principle, Blank______ and Blank______ should be placed and maintained in the proper location. Multiple choice question. human resources; monetary capital materials; people capital; labor supplies; funds funds; people

materials; people

A Blank______ is an outline of the fundamental purpose and basic philosophy of an organization. Multiple choice question. vision statement objective goal goal statement purpose statement mission statement

mission statement

Using communications technology to link organizations and allow them to work together on common objectives is called Blank______. Multiple choice question. benchmarking networking structuring interacting

networking

Select all that apply What are three common causes of small business failure? Multiple select question. no experience in that business or industry underestimating time needed to build the business underpricing or overpricing goods or services not using capital to buy equipment

no experience in that business or industry underestimating time needed to build the business underpricing or overpricing goods or services

ISO is best classified as a Blank______. Multiple choice question. volunteer organization nongovernmental organization coalition of Fortune 500 companies government regulatory agency

nongovernmental organization (ISO stands for international organization for standardization)

Rank the order in which members of a corporation are chosen in order to separate ownership from management. The top item in your list should be the top of the managerial hierarchy. (Fig. 5.5) Board of Directors hire officers of the corporation Officers hire managers of the corporation Managers hire employees Owners/stockholders elect board of directors

1. Owners/stockholders elect board of directors 2. Board of Directors hire officers of the corporation 3. Officers hire managers of the corporation 4. Managers hire employees

Select all that apply A mission statement outlines the organization's fundamental purposes. It should address which of the following? Multiple select question. Organization's self concept Customer needs The structure of the organization Nature of the product or service

Organization's self concept Customer needs Nature of the product or service

A(n) Blank______ is a specific, short-term statement of how to achieve the organization's long-term Blank______. Multiple choice question. goal; strategies goal; objectives tactic; goals objective; goals

objective; goals

The definition of ______ states: specific, short-term statements detailing how to achieve the organization's goals. Multiple choice question. objectives vision mission goals

objectives

Select all that apply All organizations require the following: Multiple select question. many employees planning capital information management

planning capital information management

Select all that apply Since entrepreneurs can't compete with larger firms' pay and benefits, what are three ways they can motivate employees? Multiple select question. provide more challenging opportunities to learn be respectful of employees' opinions increase employees' workload reduce employee empowerment maintain good employee relations

provide more challenging opportunities to learn be respectful of employees' opinions maintain good employee relations

Select all that apply What are two advantages of home-based franchises? Multiple select question. relief from the stress of commuting low overhead expenses feeling more isolated ease of obtaining financing

relief from the stress of commuting low overhead expenses

If you start and manage a landscaping business on your own, you have likely started a Blank______. Multiple choice question. sole proprietorship franchise partnership corporation

sole proprietorship

Of the forms of business ownership listed below, the easiest type of business entity to form is a Blank______. Multiple choice question. corporation sole proprietorship partnership

sole proprietorship

Select all that apply Which are attributes of a conventional corporation? (Select all that apply) Multiple select question. It has unlimited liability. it is state chartered. it is a legal entity. Corporate liability is separate from owners.

it is state chartered. it is a legal entity. Corporate liability is separate from owners

Select all that apply Management is the process used to accomplish organizational goals by the use of which four functions? Multiple select question. leading organizing promoting analyzing planning controlling

leading organizing planning controlling

Kendra is considering opening a new business. While writing the business plan, she is answering the following questions: What external success factors affect the industry? How does her business measure up to competition? What can my bakery do to survive and prosper during a recession? What was Kendra performing? Multiple choice question. A SWOT analysis Operational planning Tactical planning A risk analysis

A SWOT analysis

Identify the principle characteristic of an entrepreneur. Multiple choice question. A tendency toward self-discipline A relaxed approach to running a business A desire to prioritize personal goals over business goals An intolerance for uncertainty

A tendency toward self-discipline

Select all that apply What two advantages do small businesses have over larger companies? Multiple select question. Small failure rate Able to respond quickly to opportunities More personal customer service Ability to pay higher wages

Able to respond quickly to opportunities More personal customer service

What is the best definition of entrepreneurship? Multiple choice question. Accepting the risk of starting and running a business Tracking current trends in order to safely maintain a successful enterprise Developing innovative ideas for your employer in hopes of getting recognized. Working for others in order to build toward an early retirement

Accepting the risk of starting and running a business

Which country is the most popular target for U.S.-based franchises to enter the global market? Multiple choice question. Japan China Canada Mexico

Canada

Select all that apply A good business plan is between 25 and 50 pages long and takes many months to write. A comprehensive business plan will include which three sections? Multiple select question. Executive summary Bank analysis List of all competitors Cover letter Company background

Cover letter Company background Executive summary

Select all that apply What are two of the disadvantages of a corporation? Multiple select question. Cost of forming a corporation Limited financing Double taxation Limited life

Double taxation Cost of forming a corporation

Select all that apply Select the characteristics of an entrepreneurial team that will be developing and marketing a new product. Multiple select question. Each from different areas of business Members compete with each other in order to receive individual credit for outputs Members have complementary skills and are creative A group of experienced people

Each from different areas of business Members have complementary skills and are creative A group of experienced people

Many people do not like working for someone, so being your own ___________ is an advantage of sole proprietorships.

Employer

______ refers to accepting the risk of starting and running a business. Multiple choice question. Incubators Entrepreneurship Intrapreneurship Innovators

Entrepreneurship

Select all that apply Which are considered disadvantages of incorporating? Multiple select question. Limited Liability Extensive paperwork Initial Cost Double Taxation

Extensive paperwork Initial Cost Double Taxation

Partnerships are less likely to survive than sole proprietorships. True False

False

______ is the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources. Multiple choice question. Objectives Planning Financing Staffing Management

Management

Termination of a partnership is difficult without a(n) ______ agreement. Multiple choice question. employment partnership tax corporate

partnership

Select all that apply Because of the difficulty in ending a partnership, decisions regarding which two areas should be spelled out in a partnership agreement? Multiple select question. Whether to pay the taxes How to distribute assets The marketing plan When a partner can retire

How to distribute assets When a partner can retire

Select all that apply What three characteristics define a small business? Multiple select question. It meets certain standards of size in terms of employees or receipts. It is independently owned and operated. Its stock is traded on the open stock market. It is not dominant in its field.

It meets certain standards of size in terms of employees or receipts. It is independently owned and operated. It is not dominant in its field.

What advice would established entrepreneurs likely tell a new, would-be business owner? Multiple choice question. Make sure your business is not undercapitalized. Location isn't as important as everyone says. You don't need to hire an accountant if you can balance a checkbook. Employees are plentiful; focus on your product instead.

Make sure your business is not undercapitalized.

______ want to maintain a balanced life style while doing the kind of work they want to do. Multiple choice question. Entrepreneurs Micropreneurs Managers Intrapreneurs

Micropreneurs

Multiple Select Question Select all that apply Which of the following are part of a situation analysis (SWOT)? Multiple select question. Strengths Relationships Opportunities Weaknesses

Strengths Opportunities Weaknesses

Select all that apply What are three good ways to learn how to run your own business? Multiple select question. Start the business immediately to speed up the learning process Talk to other business owners Run a small business during your off hours Work for a successful entrepreneur

Talk to other business owners Run a small business during your off hours Work for a successful entrepreneur

Select all that apply Which two statements are true regarding the process of forming a corporation? Multiple select question. The filing process for the articles of incorporation are very consistent from state to state. The fee to incorporate is the same in all states. The bylaws of the corporation describe how the firm is to be operated. The articles of incorporation are usually filed in the state in which the company will be incorporated.

The bylaws of the corporation describe how the firm is to be operated. The articles of incorporation are usually filed in the state in which the company will be incorporated.

Select all that apply What are two characteristics that define goals? Multiple select question. They are flexible. They are long-term. They are short-term. They are broad.

They are broad.

What are two characteristics that define goals? Multiple select question. They are flexible. They are long-term. They are short-term. They are broad.

They are broad. They are long-term.

Most entrepreneurs do not get their ideas from a flash of inspiration; they come more from their passions or looking at problems. True False

True

The main advantage of a sole proprietorship is ease of start up. True False

True

The principles of management are similar for a small neighborhood business and a giant global firm. True false

True

What term is given to individuals or companies that invest in new businesses in exchange for partial ownership in those businesses? Multiple choice question. Investment advisers Finance brokers White knights Venture capitalists

Venture capitalists

After working for a large auto manufacturing company for over 20 years, Silvia decided to start her own auto accessory store. While facing new challenges every day, Silvia enjoys being free to manage her company as she desires. This example illustrates: Multiple choice question. that Silvia was wealthy enough to open a business why people take the risks of entrepreneurship the costs of entrepreneurship outweigh the benefits the difficulties of working for a large corporation

why people take the risks of entrepreneurship

What is the outlook for online businesses? Multiple choice question. Online sales are projected to remain steady. Online sales are projected to increase. Online sales are projected to decrease.

Online sales are projected to increase.

What can be said about the survival rate of partnerships as compared to sole proprietorships? Multiple choice question. Partnerships are more likely to succeed. Partnerships and sole proprietorships have about the same survival rate. Partnerships are less likely to succeed.

Partnerships are more likely to succeed.

Select all that apply An inexpensive marketing research study may help you determine which of the following? Multiple select question. Where to locate What is an effective strategy for reaching your target market How to lower the cost of your product or service Whom to select as your target market

Where to locate What is an effective strategy for reaching your target market Whom to select as your target market

Select all that apply There are a few hurdles that prevent many small businesses from engaging in the global market. What are two examples of such problems? Multiple select question. There are too few customers in global markets. Would-be exporters do not know how to get started. Technology has not advanced enough to aid in overseas marketing. Financing is often difficult to find.

Would-be exporters do not know how to get started. Financing is often difficult to find.

What advice is helpful for someone wanting to learn small-business management? Multiple choice question. Don't be afraid to fail; everyone makes mistakes, but they can easily be corrected. Each business is unique; jump in, head-first, and learn as you go. You should become an apprentice or work for a successful entrepreneur. You should not start a business unless you have an advanced degree in business.

You should become an apprentice or work for a successful entrepreneur.

A franchise owner will experience the coattail effect when Blank______. Multiple choice question. a fellow franchisee buys out another franchise management assistance becomes a burden to the franchise owners they are required to pay a large share of their profits as a royalty a fellow franchisee does something that has an impact on growth and profitability

a fellow franchisee does something that has an impact on growth and profitability

All consumers with unsatisfied wants and needs who have both resources and the willingness to buy are: Multiple choice question. customers a country's population located in a specific region a market

a market

To keep track of daily sales, expenses, profits, inventory control, customer records, and payroll a small business needs a good Multiple choice question. CRM system inventory system accounting system

accounting system

Understanding where to locate your business, who your target market is, and how to reach them, can be accomplished through Multiple choice question. an experienced management team an inexpensive market research study a comprehensive financial plan a comprehensive production schedule

an inexpensive market research study

David opened his own bicycle shop 30 years ago, and although he enjoyed his work, he needed more free time. When Josie requested to work as an apprentice, David was very willing. Before long Josie was able to run the store without any help. This is an example of how Blank______. Multiple choice question. having your own business allows one to take long vacations apprenticeships can benefit both the business owner and the apprentice all apprenticeships work well business owners can save money by hiring an apprentice

apprenticeships can benefit both the business owner and the apprentice

An advantage of the separation of ownership from management in corporations is that the company can raise money from investors but the investors Blank______. Multiple choice question. control daily operations of the board do not usually receive stock are not involved in daily operations must receive dividends

are not involved in daily operations

It is extremely important to develop a(n) Blank______ before going to a bank for a loan, because it shows that you are aware of who the target market is, who the competition is, how much money you need, and exactly how you intend to turn a profit. Multiple choice question. business plan mission statement financial statement marketing plan

business plan

Jason has prepared a comprehensive Blank______ which includes a cover letter, executive summary, company background, management team, financial plan, capital required, marketing plan, location analysis, manufacturing plan, and an appendix. Multiple choice question. statement of operations action plan vision statement business plan

business plan

A business owned and controlled through pooled resources by the people who use it is a(n) Blank______. Multiple choice question. cooperative S corporation limited partnership limited liability company

cooperative

When producers, consumers, or workers with similar needs pool their resources for mutual gain, they start a(n) Blank______. Multiple choice question. bank franchise credit company cooperative

cooperative

A state-chartered legal entity with authority to act and have liability separate from its owners is a Blank______. Multiple choice question. corporation stakeholder sole proprietorship general partnership

corporation

Select all that apply A mission statement should address an organization's Blank______. (Select all that apply) Multiple select question. customer needs self-concept financial resources equity holdings

customer needs self-concept

Which term defines having to choose among two or more alternatives? Multiple choice question. strategic planning decision making brain storming resource allocation

decision making

What is a good tactic for entrepreneurs to implement in order to keep a new company growing? Multiple choice question. wait until the business is well established before giving employees additional pay or benefits delegate authority to employees continually bring in new employees rather than promote from within do the work yourself rather than rely on employees

delegate authority to employees

Some causes of small-business Blank______ include underpricing or overpricing goods or services, starting with too little capital, going into business without first learning something about the industry or market, and underestimating how much time it will take to build a market. Multiple choice question. failure creation success growth

failure

Select all that apply In terms of operating flexibility, what are three things that LLCs are not required to do? Multiple select question. file written resolutions pay self-employment taxes hold annual meetings keep minutes

file written resolutions hold annual meetings keep minutes

An agreement that gives a business the right to use a business's name and sell a product or service in a given area is a(n) Blank______. Multiple choice question. franchise acquisition limited partnership merger

franchise

Most entrepreneurs get ideas for products and services Blank______. Multiple choice question. from already established products in the market without even thinking about it only from a flash of inspiration from looking around and asking questions

from looking around and asking questions

A partnership where all owners share in operating the business and in assuming unlimited liability for the business's debts is a Blank______. Multiple choice question. general partnership limited partnership cooperative master limited partnership

general partnership

Mark, Cal and Aidan have decided to form a business where all owners will share in operating the business and in assuming liability for the business debts. They are most likely forming a(n) Blank______. Multiple choice question. limited partnership cooperative sole proprietorship general partnership

general partnership

Select all that apply An organization that sets its vision hopes to achieve what two objectives? Multiple select question. giving the organization a formal operating structure giving the organization a sense of purpose giving the organization a set of short term objectives giving the organization a set of values

giving the organization a set of values giving the organization a sense of purpose

David's manager told him the company wants to achieve a 50 percent market share within 5 years. David's manager was relaying a company Blank______. Multiple choice question. goal objective standard protocol

goal

What term defines the broad, long-term accomplishments an organization wishes to attain? Multiple choice question. goals mission tactics strategy

goals

The expansion and development of the Internet has sprouted a world of small web-based businesses. This, among other reasons, may explain why online sales are rapidly: Multiple choice question. shifting abroad stagnating decreasing increasing

increasing

Select all that apply Select reasons why people become entrepreneurs. Multiple select question. independence regulations profit opportunity

independence profit opportunity

Select all that apply Managers practice the art of getting things done using organizational resources such as Blank______. (Select all that apply) Multiple select question. information workers equipment customers

information workers equipment

LLC's are considered to have operational flexibility because while they must submit articles of organization, they are not required to Blank______. Multiple choice question. distribute profits or keep meeting minutes pay taxes or hold annual meetings keep minutes or hold annual meetings provide employee benefits or pay taxes

keep minutes or hold annual meetings

An S corporation has the liability protections of a corporation but is taxed Blank______. Multiple choice question. as if it were a corporation twice at corporate rates for each year like a partnership or sole proprietorship

like a partnership or sole proprietorship

Select all that apply Managing a small business became relatively easy with the advent of inexpensive personal computers. Inexpensive computer systems and off-the-shelf or even free, open-source software make it easy for the small business manager to Blank______. Multiple select question. follow the daily sales and expenses lengthen their daily working hours travel to other area businesses manage customer records

manage customer records follow the daily sales and expenses

Employees who get things done using an organization's financial resources, information, equipment, and workers are: Multiple choice question. managers customers competitors suppliers

managers

Classes on small business and entrepreneurship offered at a local community college offer prospective business owners the chance to Blank______. Multiple choice question. recruit instructors who will help write your business plan form a network of students who might be willing to invest in your business present business ideas to an instructor to see if it is worth pursuing meet with experienced entrepreneurs to get advice and form support networks

meet with experienced entrepreneurs to get advice and form support networks

Although there are many functions that are important in both the start-up and management phases of the business, what two functions are considered to be primary concerns? Multiple choice question. accounting and marketing hiring and human resource development production and sales planning and financing

planning and financing

Select all that apply Select the characteristics of an intrapreneur. Multiple select question. someone who uses company's resources to launch new products a person who assumes the risk of starting a business. he or she generates profits by leveraging a firm's human financial and physical resources. a creative person who works within a corporation

someone who uses company's resources to launch new products. he or she generates profits by leveraging a firm's human financial and physical resources. a creative person who works within a corporation.

Gathering leads on a company website, selling products and keeping up to date on news via email, and chat rooms all serve as examples of using Blank______ to assist franchisees and customers. Multiple choice question. coattail effects franchise management diversity technology

technology

Select all that apply Many brick and mortar franchisees are using Blank______ to expand their businesses online to lower costs and better meet the needs of their customers. (Select all that apply) Multiple select question. websites personal sales mall kiosks technology

technology websites

Because of the poor publicity at a fellow franchise location, you notice that sales at your location have decreased. The impact of the poor publicity on your company is referred to as Multiple choice question. unlimited liability changes to the franchise agreement reinforcement of the franchise agreement the coattail effect

the coattail effect

Select all that apply What two items are delineated in a franchise agreement? Multiple select question. the royalty fee to be paid for each item sold the right to use a specific business' name the right to sell a business' products in a given territory the right to place one's logo on another business' product

the right to use a specific business' name the right to sell a business' products in a given territory

Select all that apply What two items are described in a business plan? Multiple select question. the target market the resources and qualifications of its owner(s) the advantages of using a chosen bank a demand forecast of employees

the target market the resources and qualifications of its owner(s)

Many franchises are expanding internationally because Blank______. Multiple choice question. it is expensive to adapt products there is much more competition there are markets available all over the world Cultural barriers are not significant

there are markets available all over the world

Select all that apply What are two reasons that franchises are attractive to minority populations? Multiple select question. they provide personal ownership of a business they have a higher failure rate they are often unknown beyond a local area some offer financial support to aspiring business owners

they provide personal ownership of a business some offer financial support to aspiring business owners

What level of management consists of the president and other key company executives who develop strategic plans? Multiple choice question. front line management middle management top management supervisory management

top management

Select all that apply Among the hurdles small businesses must overcome in starting to operate globally are: Multiple select question. bureaucratic paperwork many shippers available to start shipping more quickly understanding cultural differences difficulty finding financing

understanding cultural differences difficulty finding financing bureaucratic paperwork

Daniel wanted to start his own small business. After spending his own money on marketing research, Daniel asked his friend Chase to be his accountant. They spent a few months writing a business plan, which then they presented to a bank. Daniel: Multiple choice question. understands the steps needed to start a small business does not understand what it takes to start a small business is riding the coat tails of his uncle took the wrong initiatives

understands the steps needed to start a small business

Select all that apply Functions included in staffing an organization are Multiple select question. hiring controlling recruiting retaining

hiring recruiting retaining

Low overhead costs are an advantage of which type of business? Multiple choice question. home-based businesses large corporations sole proprietor retail store restaurant franchises

home-based businesses

Firms may use a combination of departmentalization techniques to create a(n) Blank______ form of organization. Multiple choice question. hybrid decentralized complementary multi-level

hybrid

Select all that apply Industrial robots have completely changed manufacturing because they: Multiple select question. increase the number of jobs for humans improve productivity can work 24/7 with great precision

improve productivity can work 24/7 with great precision

Tremendous opportunities exist for careers in operations management due to Blank______. Multiple choice question. decreased competition decreases in technology increased competition less automation

increased competition

Using an Internet-focused strategy, operations managers are outsourcing design, production, and shipping to other firms. This process is called a(n): Multiple choice question. inter-firm process mass production process one firm process intra-firm process

inter-firm process

Many rapidly growing firms are outsourcing areas like engineering, design, and manufacturing with the use of the Internet, thus, developing a(n) Blank______ approach to operations management. Multiple choice question. open interfirm holistic closed

interfirm

Which of these are centers that offer new businesses in the critical stage of early development low-cost offices with basic services such as accounting, legal advice, and secretarial help? Multiple choice question. Enterprises Small Business Administration offices Business incubators Affiliates

Business incubators

Which acronym refers to the use of computers to design products? Multiple choice question. CAD CAM CDP CAP

CAD (computer aided design)

Multiple Select Question Select all that apply What are two characteristics of lean manufacturing? Multiple select question. It uses more resources. It takes more time. It uses less resources. It takes less time.

It uses less resources. It takes less time.

The material _______ _______ _______ inventory method is designed to keep a minimum of parts, supplies, and other materials on hand just in time to go on the assembly line.

JIT (just in time)

Overall company quality is outlined by the standards set by the Blank______ National Quality Award Multiple choice question. ISO Six Sigma Malcolm Baldrige JIT

Malcolm Baldrige

What is telecommuting? Multiple choice question. When employees make work-related telephone calls while commuting to and from the workplace When employees commute to work via transit systems When employees work from home, via a computer When employees keep in touch with each other through conference calls via telephone instead of in person at the workplace

When employees work from home, via a computer

Mass production focuses on producing Blank______. Multiple choice question. a wide variety of products many products in small amounts customized products a limited variety of products

a limited variety of products

Select all that apply The result of the increase in the rate of change in the business environment from causes such as natural disasters and global competition has been that companies must Blank______. (Select all that apply) Multiple select question. retain traditional organization structures adapt to new technologies change more quickly than ever before defend their traditions and old ways of doing business

adapt to new technologies change more quickly than ever before

3D printing is a production process also known as Blank______ manufacturing. Multiple choice question. additive CAD specialized robotic

additive

Groups of employees from different departments who work together on a long-term basis and are empowered to make decisions without management approval are Blank______. Multiple choice question. matrix organization teams cross-functional teams cross-functional self-managed teams line and staff teams

cross-functional self-managed teams

Groups of employees from different departments who work together on a long-term basis are called Blank______. Multiple choice question. virtual corporations matrix organizations line and staff organizations cross-functional teams

cross-functional teams

Multiple Choice Question Which of Fayol's principles states that a manager should treat employees and peers with respect and justice? Multiple choice question. Chain of command Esprit de corps Order Clear communication channels Equity

equity

As organizations adopt empowerment, reduce the number of middle managers, and hire more talented and better educated lower-level employees the trend today is to Blank______ the span of control. Multiple choice question. reduce tighten moderately decrease expand

expand

A benefit of the unity of command principle is: Multiple choice question. it prevents confusion since employees are not required to report to a manager it prevents confusion since each employee reports to one manager it prevents confusion since employees are expected to follow strict rules and regulations it leads to job satisfaction since employees report to several different mangers

it prevents confusion since each employee reports to one manager

Select all that apply What are three tasks of knowledge managers? Multiple select question. keeping information in a readily accessible place finding the right information making information known to everyone in the organization securing information so only those at the top of the organization see it

keeping information in a readily accessible place finding the right information making information known to everyone in the organization

Production workers, distribution people, and marketing personnel who are responsible for directly achieving organizational goals are called __________ personnel.

line

Select all that apply Uses of sensors to control manufacturing processes include Blank______. (Select all that apply) Multiple select question. the measurement of the thickness of material framing a house handcrafting a pair of shoes measuring humidity

measuring humidity the measurement of the thickness of material

Two software companies each hold a small percentage of the market. To gain recognition and increase market share, these companies decide to join together to form one company. This move is known as Blank______. Multiple choice question. acquisition merger partnership co-op

merger

If a company has a goal of Blank______, it might choose to locate its facilities to an area that has access to major highways, ports, railways, and airports. Multiple choice question. reducing time to market replacing a labor force with machinery having more inventory on hand eliminating economies of scale

reducing time to market

Select all that apply The formal organization details lines of: Multiple select question. responsibility relationships authority position

responsibility authority position

Unlimited liability as it relates to sole proprietorships is the risk of Blank______. Multiple choice question. the loss of personal assets losing money rather than making a profit unlimited taxation losing one's personal freedom to run the business

the loss of personal assets

Select all that apply Today's trend is to expand the span of control because: Multiple select question. the workforce is better educated at all levels organizations want more control at every level organizations save by reducing the number of middle managers empowerment increases costs and reduces profits

the workforce is better educated at all levels organizations save by reducing the number of middle managers

Select all that apply What are two goals of operations management? Multiple select question. to advertise the product to create a good experience for the customer to create a domestic organization to keep operations running efficiently

to create a good experience for the customer to keep operations running efficiently

The Blank______ function of management measures performance relative to the planned objectives and standards, rewards people for work well done, and takes corrective action when needed. Multiple choice question. organizing leading control implementation

control

Less need for policy manuals, organization charts, and formal controls is a sign of shared values in a: Multiple choice question. corporate culture that doesn't empower employees. negative corporate culture. corporate culture that emphasizes service to others. corporate culture where there is little trust.

corporate culture that emphasizes service to others.

Organizations reorganized to empower frontline workers so that they: Multiple choice question. maintain the management pyramid maintain their systems could more efficiently and effectively serve customers continue to have managers direct frontline employees

could more efficiently and effectively serve customers

Select all that apply What are three attributes of successful entrepreneurs? Multiple select question. highly energetic self-nurturing action-oriented intolerant of uncertainty

highly energetic self-nurturing action-oriented

Multiple Select Question Select all that apply Examples of a problem solved by operations management planning as it relates to manufacturing include: Multiple select question. facility location performance review systems inventory control pricing

inventory control facility location

Select all that apply Examples of a problem solved by operations management planning as it relates to manufacturing include: Multiple select question. inventory control facility location performance review systems pricing

inventory control facility location

Those directly responsible for achieving the organization's production goals by issuing orders and enforcing discipline are __ managers. Multiple choice question. top production staff line

line

The type of production that does not concern itself with customer preferences, but instead focuses on making a large number of a few products is called _______ production.

mass

The method of producing large quantities of goods efficiently is: Multiple choice question. mass customization. customization. mass production. handcrafting.

mass production

A large organization might use a flat organization structure in order to Blank______. Multiple choice question. increase corporate control centralize operations maintain a narrow span of control match the flexibility of small firms

match the flexibility of small firms

The basic premise of just-in-time inventory is Blank______. Multiple choice question. many workers manage many items minimum inventory is kept on hand obsolescence is accepted large volumes of inventory are available

minimum inventory is kept on hand

The chain of command is the line of authority that moves from the Blank______ of a hierarchy to the Blank______ level. Multiple choice question. lowest; top middle; lowest lowest; middle top; middle top; lowest

top; lowest

An additive manufacturing process that creates a product one layer at a time using a nozzle similar to those in inkjet printers is Blank______. Multiple choice question. a layout process a fixed position process an assembly process 3D printing

3D printing

______ leadership is a leadership style that involves making managerial decisions without consulting others. Multiple choice question. Autocratic Democratic Free-rein Participative

Autocratic

Select all that apply What three positions are considered as top management in an organization? Multiple select question. Chief Financial Officer Chief Executive Officer The Plant Manager Production Supervisor Chief Operating Officer

Chief Financial Officer Chief Executive Officer Chief Operating Officer

Select all that apply Identify the four ways to structure an organization. Multiple select question. Visual corporations Cross-functional self-managed teams Line organizations Matrix-style organizations Line-and-staff organizations

Cross-functional self-managed teams Line organizations Matrix-style organizations Line-and-staff organizations

Select all that apply When designing responsive organizations, what decisions do firms have to make? Multiple select question. Decide the span of control Decide between centralization versus decentralization Choose between tall or flat structures Monitoring the environment

Decide the span of control Decide between centralization versus decentralization Choose between tall or flat structures

Select all that apply Identify the principles of Henri Fayol's book General and Industrial Management from the following list. Multiple select question. Consistent procedures, regulations, and policies Division of labor Unity of command Hierarchy of authority

Division of labor Unity of command Hierarchy of authority

Why is adapting to change one of the hardest challenges facing any manager? Multiple choice question. Governments are resistant to change. Employees and managers are sometimes resistant to change. Shareholders are resistant to change. Other companies may not change with you.

Employees and managers are sometimes resistant to change.

Students who can recognize future trends know that there are few opportunities for careers in operations management. True False

False

Using machines designed to do multiple tasks so they can produce a variety of products is called computer-aided design. True False

False (flexible manufacturing)

Under which Fayol principle does it state that all workers should know to whom they report? Multiple choice question. Hierarchy of authority Authority Division of labor Degree of centralization

Hierarchy of authority

A firm that has a marketing department organized geographically and a production process organized by function has which type of departmental structure? Multiple choice question. Customer group Hybrid Geographic Process

Hybrid

______ is finding the right information, keeping information in a readily accessible place, and making the information known to everyone in the firm. Multiple choice question. Managing capital Enabling management Accessibility management Knowledge management

Knowledge management

A computer-based operations management system that uses sales forecasts to make sure that needed parts and materials are available at the right time and place is referred to as Blank______. Multiple choice question. SQC MRP PERT JIT

MRP (material requirements planning)

Four organizational designs include: line, line and staff, Blank______, and cross-functional teams. Multiple choice question. functional matrix geographic process

Matrix

In a(n) Blank______ organization, project managers are in charge of teams made up of members from several departments. Multiple choice question. matrix line line-and-staff inverted

Matrix

If an organization temporarily borrows its specialists from different functional areas to accomplish a common project, it is implementing what type of organization? Multiple choice question. Matrix organization Virtual organization Line organization Self-managed team

Matrix organization

Written rules and procedures. promotion based on qualifications, and job descriptions are organizing principles proposed by Blank______. Multiple choice question. Frederick Taylor Mary Parker Follett Max Weber Henry Gantt

Max Weber

Select all that apply What are three things service providers should do to remain competitive in the increasingly crowded service sector? Multiple select question. Switch from traditional to nontraditional advertising Continuously improve to maintain a competitive edge Maintain close relationships with suppliers Outsource nonessential functions Provide customers with quality care and attention

Provide customers with quality care and attention Continuously improve to maintain a competitive edge Maintain close relationships with suppliers

Which is a true statement about the principles of organization? Multiple choice question. The principles of organization vary depending upon the size of the firm. Regardless of the business size the principles are similar. Only larger firms follow organizational principles. Only smaller firms follow organizational principles.

Regardless of the business size the principles are similar.

In order to be a quality organization, a firm must Blank______. Multiple choice question. confine quality measures to manufacturing consistently produce what the customer wants do only endpoint inspection view quality as one step in production

consistently produce what the customer wants

A corporation is formally formed with Blank______. Multiple choice question. bylaws and union formation articles of incorporation and bylaws very little paperwork or cost a partnership agreement

articles of incorporation and bylaws

The main idea behind mass production is to produce a large number of a limited variety of products Blank______. Multiple choice question. with very few inputs with very few employees at very slow speeds at a very low cost

at a very low cost

Centralized authority occurs when decision making is done Blank______. Multiple choice question. at all levels of management at the top level of management by employee teams by employees

at the top level of management

The line of authority that moves from the top of a hierarchy to the lowest level is called the Blank______. Multiple choice question. bureaucracy chain of command organizational chart division of labor

chain of command

Select all that apply Organizations reorganize to empower frontline workers to: Multiple select question. demonstrate appreciation and trust to frontline workers let them know they are valuable assets to the organization maintain tightly centralized controls serve customers more efficiently and effectively

demonstrate appreciation and trust to frontline workers let them know they are valuable assets to the organization serve customers more efficiently and effectively

Select all that apply Leaders in traditional organizations who direct employees are likely to: Multiple select question. empower workers to make their own decisions provide performance feedback explain routines give specific assignments

provide performance feedback explain routines give specific assignments

In his job, Manuel finds the highest quality material resources, the best suppliers, and then negotiates the best prices. Manuel works in the Blank______ department. Multiple choice question. logistics inventory management quality control purchasing

purchasing

When a firm reduces errors before and after delivery to the customer and thus delivers what the customer wants, the firm is said to exemplify the definition of Blank______. Multiple choice question. control process quality utility

quality

The present moment or the actual time in which something takes place is called _______ time.

real

MRP is a computer based operations management system that uses Blank______ to make sure that needed parts and materials are available at the right time and place. Multiple choice question. daily accounting reports sales forecasts customer feedback inventory records

sales forecast

Empowerment occurs when: Multiple choice question. employees recognize the hierarchal authority within their organization. employees reduce personal goals to achieve organizational goals. managers are given power to direct and control subordinates' behavior. employees are given the authority to make a decision and the responsibility to respond quickly to customer requests.

employees are given the authority to make a decision and the responsibility to respond quickly to customer requests.

Select all that apply Line managers are those who have the authority to: Multiple select question. enforce discipline adjust to changing conditions provide advice about affirmative action issue orders

enforce discipline adjust to changing conditions issue orders

_____________ customers include dealers, who buy products to sell to others, and ultimate customers (or end users), who buy products for their own personal use.

external

A type of problem that operations management planning helps to solve as it relates to manufacturing is Blank______. Multiple choice question. human resource issues budget planning marketing strategy development facility layout

facility layout

The physical arrangement of resources in the production process refers to Blank______. Multiple choice question. facility layout mass customization facility location lean manufacturing

facility layout

______ organization structures respond to customer demands faster because its lower-level employees have authority and responsibility for making decisions. Multiple choice question. Line-and-staff Matrix Tall Flat

flat

______ organization structures respond to customer demands faster because its lower-level employees have authority and responsibility for making decisions. Multiple choice question. Tall Line-and-staff Flat Matrix

flat

Remaining __ is the key to an organization's success in changing times. Multiple choice question. stable flexible inflexible consistent

flexible

Using machines that are designed to do multiple tasks in order to produce a variety of products is called Blank______. Multiple choice question. computer-aided design flexible manufacturing modular production systems engineering

flexible manufacturing

An example of Blank______ utility is when a butcher produces a specific cut of beef. Multiple choice question. possession form process delivered

form

______ utility is the value producers add to materials in the creation of finished goods and services. Multiple choice question. Manufacturing Output Form Process

form

The ______ organization details lines of responsibility, authority, and position. It is the structure shown on organization charts. Multiple choice question. digital natives informal straight-line virtual formal

formal

The structure that details lines of responsibility, authority, and position that represents different types of organizational design is known as a ________ organization.

formal

Ensuring that products are manufactured and delivered on time, on budget, and to specifications is the role of which manager in an organization? Multiple choice question. Purchasing Finance Operations Marketing

operations

Which of Fayol's principles states that materials and people should be placed and maintained in the proper location? Multiple choice question. equity order division of labor authority

order

Innovations like the mass production of cars can create economies of scale. However, over time this benefit becomes less meaningful because Blank______. Multiple choice question. raw materials become less expensive other companies copy the processes labor becomes less expensive consumers buy less and less

other companies copy the processes

Technical skills are the ability to Blank______. Multiple choice question. communicate and motivate other people train, develop, and support workers visualize the organization as a whole and how departments interrelate perform tasks such as filing tax forms or assembling a keyboard

perform tasks such as filing tax forms or assembling a keyboard

Real time is the ______ moment or the ______ time in which something takes place. Multiple choice question. predicted; estimated past; actual present; actual future; predicted present; non-official

present; actual

The creation of finished goods and services using the factors land, labor, capital, entrepreneurship, and knowledge is: Multiple choice question. production leading organizing controlling

production

Multiple Select Question Select all that apply The line organization has direct lines of Blank______ that extend from the top manager to employees at the lowest level of the organization. Multiple select question. collaboration responsibility authority communication

responsibility authority communication

With the use of Blank______, products can be tracked from the beginning of production to the point of delivery. Multiple choice question. sensors lean manufacturing additives CAD

sensors

The definition of ______ states: a management function that includes hiring, motivating, and retaining the best people available to accomplish the company's objectives. Multiple choice question. staffing organizing leading managing

staffing

ISO is not part of the government, but is a federation of national __________ bodies.

standards

Select all that apply The control function of management: Multiple select question. takes corrective action when necessary rewards people for work well done measures performance relative to the planned objectives and standards gives workers the education and tools they need to make decisions

takes corrective action when necessary rewards people for work well done measures performance relative to the planned objectives and standards

The definition of Blank______ Blank______ states: skills that involve the ability to perform tasks in a specific discipline or department. Multiple choice question. human relations conceptual skills technical skills tactical skills

technical skills

Working from home using information technology such as a computer and modem is referred to as Blank______. Multiple choice question. operations management telecommuting information technology quality of work life

telecommuting

When businesses evolved into larger organizations producing larger amounts of product more efficiently using mass production methods, it could be said that: Multiple choice question. larger plants were less efficient. smaller plants had less costs per unit produced. smaller plants were more efficient than larger plants. the bigger the plant, the more efficient production became.

the bigger the plant, the more efficient production became.

Select all that apply Advantages of a positive corporate culture include: Multiple select question. trust between employees people who enjoy working together to be productive emphasizing service to others, especially customers a focus on profit above all

trust between employees people who enjoy working together to be productive emphasizing service to others, especially customers

When each worker is to report to only one boss, it is an example of which Fayol principle? Multiple choice question. Esprit de corps Unity of command Division of labor Hierarchy of authority Authority

unity of command

In a sole proprietorship, any debts or damages incurred by the business are your personal debts and you must pay them. This disadvantage is known as Blank______. Multiple choice question. limited liability taxation responsibility unlimited liability

unlimited liability

Naomi invests in new businesses in exchange for partial ownership in those businesses. Naomi is a(n) Blank______. Multiple choice question. peer-to-peer lender white knight venture capitalist business incubator

venture capitalist

An organization's Blank______ gives it a sense of purpose and a set of values that unites workers in a common destiny. Multiple choice question. philosophy vision structure mission

vision

An organization's Blank______ is a broad explanation of why the organization exists and where it is trying to go. Multiple choice question. culture structure vision mission

vision

Fayol's equity principle states that a manager should treat employees and peers: Multiple choice question. as individual workers as a coordinated team with power and authority with respect and justice

with respect and justice

Select all that apply In which two situations is autocratic leadership effective? Multiple select question. working with new, unskilled workers working with long time employees emergencies working with highly professional employees

working with new, unskilled workers emergencies