DECA 18-19
While brainstorming ideas for a new business venture, Shane's first suggestion is opening a new pizza parlor. Which of the following is the most appropriate response to Shane's suggestion: EN
"What if we served pizza and gelato?"
Which of the following financing strategies is considered a form of bootstrapping that an entrepreneur might use to help with the cost of starting a business: FI
Bartering to exchange services with suppliers
Which of the following is an example of an entrepreneurial opportunity: PD
Buying an existing business
Which of the following types of laws is most likely to affect students: BL
Child labor laws
Rosa is writing a business letter to Alex Smith, whom she has never met. Which of the following salutations should Rosa use: CO
Dear Alex Smith:
Which of the following should you do when selling your business: EN
Keep your business negotiations confidential.
Which step of the decision-making model involves identifying what you want to do? PD
Pinpointing your objective
Which of the following is an example of a company objective that might be developed by top management: SM
To maintain or increase market share
A fast-food restaurant chain recently analyzed its drive-thru process and found it to be inefficient. As a result, the chain's upper management decided to make changes to better streamline the drive-thru process nationwide. After acquiring the necessary resources and determining the desired changes, the restaurant chain should OP
communicate the planned changes to relevant stakeholders.
Many organizational changes fail because SM
companies do not properly execute the change-management lifecycle.
Which of the following is vital to the successful operation of a private enterprise system: EC
competition
The Simpson Company is negotiating discount terms with Cornwell Manufacturing, a prospective vendor. During the negotiation, Cornwell states that it is willing to offer Simpson a six-percent discount on orders over $50,000. Although Simpson would rather have an eight-percent discount, it agrees to the terms, hoping to obtain something it wants later in the negotiation. This is an example of a OP
concession
Which of the following words most accurately describes arbitration: BL
confidential
Reviewing activity status reports helps a project manager to PJ
control the project
A 12-screen movie theater recently opened in your neighborhood. Just a couple of months after it opened for business, the old single-screen drive-in movie theater nearby went out of business. This is an example of PD
creative destruction
The core activity of managerial planning involves SM
determining objectives
Inspecting raw materials before using them to produce finished goods is an example of ___________ control. SM
feedforward
The laddering technique is used to capture and change categories of KM
hierarchical information.
The first step of protecting a business's digital assets is taking an inventory. This includes what information is on what media, where the information is located, and OP
how the information is accessed
Alexis and her team are working on a new project proposal to show their boss. She knows that doing the project their way will be costly and time-consuming, but she also knows that the results will be great. She and her team decide to first present the benefits of the project and then draw the conclusion that investing company time and money would be a good idea. Alexis hopes to convince her boss using CO
inductive organization
Determining a project's feasibility, developing a statement of work (SoW), creating SMART objectives, and developing a project charter occur during the __________ stage of project management. OP
initiation
Jamal wants to purchase software for his small business that allows him to create text documents, prepare presentations, maintain a customer database, and develop numerical charts. What type of software would best meet Jamal's needs? NF
integrated
A business establishes virtual workspaces for several project teams in which information and expertise are continuously updated and shared among all of the work teams' members. What form of knowledge management technology is the business using? KM
knowledge repositories
The Six Sigma framework of quality management takes a disciplined approach to continuously providing better quality and QM
lowering costs
Who is usually responsible for analyzing a business's income statement? FI
managers
Your company had total sales of $5 billion last year, while your industry as a whole sold $50 billion. Your company's sales divided by total industry sales equals 10 percent, or your MK
market share
Which of the following is the best example of the types of resources it takes to complete a project successfully: OP
materials
Kate says, "I am very pleased with your progress on the project, Devon. Take the rest of the day off, and we'll talk about the next phase of the project tomorrow." What directing activity is Kate performing SM
motivating an employee
Dara is in charge of quality control at her company. Which type of business management and administration career does she have? PD
operations management
Nico knows he would never do anything unethical, but he is sure that all of his coworkers are tempted at one point or another. Nico is demonstrating FI
over-optimism and overconfidence
. Service businesses that use goods in order to perform their services usually do not transfer __________ those goods to customers. EC
ownership of
The focus of the Six Sigma framework involves maximizing overall quality and QM
preventing problems
Which of the following is the primary activity performed during the execution phase of a project: PJ
producing
Arbitration is usually a binding process, which means that it BL
replaces the trial
Longer supply lines, due to globalization, will most likely increase __________ for suppliers. OP
risk
Which of the following is a function of project-management software: NF
scheduling
Which of the following is an economic factor that affects business trends: NF
the business cycle
Information that has been printed for publication is often more reliable than many Internet sources because NF
the information is typically carefully checked for accuracy.
Which of the following is a criterion for evaluating the reliability of a source: CO
timeliness
One way that technology can facilitate risk management is by RM
tracking and enforcing compliance.
Rachel says to the audience, "Now that you have some insight about the nature of the problem, I'll discuss the methodology that our firm used to conduct the research." This statement is an example of a(n) CO
transition
Supply chain network design improves service and reduces cost by aligning purchasing, production, warehousing, inventory, and OP
transportation
If individuals are not self-employed, which of the following is a type of earned income they might receive: FI
vacation pay
During a job interview, Christian did not maintain constant eye contact with his interviewer. Instead, he looked down at his papers a few times. The interviewer most likely assumed that Christian CO
was nervous or trying to recall information.
In which of the following resources is a project team member most likely to find information about the standards and quality-control protocol for project work activities: PJ
work breakdown structure dictionary
Trevor needs to determine the procedures that he needs to follow for a specific project work activity. Trevor can locate that information in the PJ
work breakdown structure dictionary.
A corporation is building a facility in the city's business district. The city requires that the facility meet certain size, style, structural, and usage requirements. These requirements are outlined in the town's OP
zoning ordinances
What are important considerations in establishing hardware/software specifications for a business? NF
Capabilities, compatibility, reliability, and cost
Which of the following is an action that a business might take after comparing its operating results to the industry average: SM
Decrease collection time on accounts receivable
A local business raises money to help people in the community who were affected by a tornado. This is an example of which of the following positive actions that businesses should take: MK
Demonstrating corporate responsibility
Diamond Select Credit Cards recorded a 90% customer satisfaction rating for the last fiscal year. What is one way to translate this measure into a financial outcome? MP
Determine the amount of revenue from repeat customers
What type of insurance provides monetary payments to an independent business owner running a business from his/her home in the event that s/he develops a personal illness and is unable to work? FI
Disability
Which of the following is a way that government regulates business operations to create a fair marketplace: A local business raises money to help people in the community who were affected by a tornado. This is an example of which of the following positive actions that businesses should take: EC
Discouraging price-fixing
One of the customer profiles for Bea's Bookstore is a college student purchasing textbooks. Which of the following is a psychographic description of this typical customer: MP
Eager to save money
Evan is an introverted, thoughtful employee who likes structure and routine in his workday. Which of the following actions would help Evan's boss, Allison, bring out the best in him: EI
Providing Evan with plenty of notice each time she asks him to present in a meeting
Al is thinking about moving his company's headquarters to another city, which would be expensive but closer to the raw materials needed for manufacturing. The benefit in moving is EN
Proximity
Obtaining goods that will satisfy the needs and wants of a business's customers is a function of OP
Purchasing
Which of the following explains why monthly financial statements do not accurately show how much a company is worth: FI
They do not reflect how much a company owes on unpaid liabilities.
Which of the following is a condition that must exist for channels to be effective: CM
They must be properly managed.
Aaron, a small-business owner, develops an exit strategy so that his company keeps growing and prospering in the marketplace after he leaves. The exit strategy is one aspect of Aaron's EN
continuation plan
Which of the following is a financial consideration when measuring the effectiveness of online advertising based on a click-through rate: MP
cost versus response
Looking at problems from various points of view helps a small-business owner develop EN
creative solutions
Members of a board of directors are PD
elected by stockholders
To evaluate how well your vendors are performing, you must first OP
establish standards of success.
A business usually negotiates loans with the same bank in which it maintains a checking account because the business has a(n) __________ with that bank. FI
established relationship
"Big Q" focuses on OP
exceeding customer expectations.
Mark doesn't have much money to promote his new restaurant, so he focuses on inviting a few customers in for a special dinner in hopes that they will post favorable reviews online and tell their family and friends about their great meals. Mark is using __________ marketing. PR
grass roots
Which of the following is an external control used to govern companies: PD
health and safety laws
Managerial accounting differs from financial accounting because managerial accounting FI
helps people within a business rather than outside of the organization.
A company created a new production process that decreased the cooling time required for heat-treated manufactured parts. This method enabled employees to handle the parts more quickly in the next production step. The new production process was created in response to OP
human factors
A society in which group ties are very loose is known as a(n) EC
individualist society.
A small-business owner might register for trademark protection for the company's EN
logo
If a company's decision makers all require different information concerning sales transactions to make business decisions, the company relies on __________ accounting. FI
managerial
Sylvia needs to buy a new computer for her company. Instead of bartering for the computer, she uses money to purchase it. Which function of money does this illustrate? FI
medium of exchange
What type of competition is being used when businesses compete on a basis other than price? EC
nonprice
When Maura purchased a new car, she was able to get part of the purchase price back from the car's manufacturer. The car's manufacturer engaged in EC
offering rebates.
Expenses such as payroll and rent that are necessary to the running of a business are called __________ expenses OP
operating
When negotiating maintenance contracts, which of the following should businesses consider that often adds to the overall cost: OP
optional features
Which of the following is one of the main functions of promotion in the advertising industry: PR
persuading
Product pricing is affected by transportation costs, which are factors related to the marketing element of PI
place
Government regulation is a factor that affects a business's pricing because pricing regulations prohibit PI
price fixing
Which of the following is a marketing activity that businesses consider when conducting a competitive analysis: MP
promotion
Broadcast advertising is an example of __________ media. PR
promotional
A company develops a new production process so employees can create products while seated. This requires the company to schedule overtime hours but complies with a law that prevents employees from standing for more than eight hours. The company has changed its manufacturing process in response to OP
regulations
Before launching a new product, marketers should obtain the support of top company leadership. This is an example of which aspect of change management? SM
sponsorship
Because the MBC Company has one location that services the eastern part of the country and another location that services the western part of the country, the company's work flow is organized by EN
territory
Which of the following financial analysis methods is used to show the relationship of each component to the total within a single financial statement: FI
vertical analysis
Monroe Manufacturing uses a numerical rating scale to quantify a vendor's activities in a variety of areas, including delivery, service, and quality. What system is Monroe using to evaluate the vendor's performance? OP
weighted-point
In which of the following situations does a nation have a favorable balance of trade: EC
Exports of $3.5 million and imports of $3.1 million
True or false: Companies without an HR department do not participate in HR management activities HR
False; in companies without HR departments, other managers and supervisors participate in HR management activities.
ABC Builders are two months behind schedule on the mall they are building. Management has decided to "crash" the project. Which of the following is an example of "crashing" a project: PJ
Hire ten additional construction workers
Which of the following is a benefit of a company intranet: KM
Improved engagement in employee communications
Which of the following types of data analysis suggests a future course of action: NF
Prescriptive analytics
Which of the following examples best illustrates cheating: EI
Pretending to be a customer to gain competitors' information
So that a business can achieve its organizational goals, the business's employees must have PD
adequate training
A business may use accounting to keep track of FI
amounts owed to it
Certain industries are more sensitive to specific environmental changes than others. Which of the following organizations is most likely to be significantly affected by an increase in fuel prices: EC
an airline
Kara has natural artistic talent and thinks that she might want to work as an interior designer. Kara's artistic ability is an example of a(n) PD
aptitude
One way that employees can help to control a business's expenses is by OP
arriving at work on time.
A company inspected its final deliverables and found an error in the product design. To prevent this, the company should have OP
built quality into the project plan.
Which of the following best describes the relationship between buyers and sellers when it comes to product pricing: PI
A game of tug-of-war
A car company has decided to invest less in its successful pickup truck and to use those funds instead on the development of its new hybrid vehicle. This is an example of EN
A harvest strategy
Which of the following depicts a situation in which you should stick up for others who are being treated unfairly: EI
A new coworker is asking others to do his work for him.
What company has the highest sales-to-receivables ratio based on the following information: Company A has sales of $250,000 and accounts receivable of $20,000; Company B has sales of $275,000 and accounts receivable of $25,000; Company C has sales of $300,000 and accounts receivable of $30,000; and Company D has sales of $290,000 and accounts receivable of $32,000. SM
Company A
Which of the following is an action that a business can take to capture tacit knowledge from its employees: KM
Conducting personal interviews
Which of the following activities would be most useful in building a corporate brand: PM
Creating a logo and tagline to identify a company
Why is it important for an organization to consult external data when trying to determine a new pricing strategy? IM
External data provide information about competition and market demand.
In which of the following situations are you most likely to pay excise taxes: EC
Filling up your car with gasoline
What action should a manager take first in response to an employee's complaint that s/he has been scheduled to work on a day s/he had expected to have free? HR
Gather additional information about the situation.
A hotel discovers that 60% of consumers prefer to book directly with a hotel versus via an online travel agency (OTA) listing with the same price. The hotel's research findings also indicate that 55% of consumers still prefer to book directly with a hotel when the hotel option is up to 20% higher than the price listed on an OTA site. Based on this information, which of the following business strategies should the hotel adopt to increase direct hotel bookings and maintain its profitability: NF
Gather consumer opinions about the hotel's booking process to improve it
Which of the following best describes what it means to have a vision: EI
Having a mental picture of the ideal future
A manufacturer of dishwashing soap has just invented a new type of soap that cleans better. The manufacturer should choose to distribute the soap through __________ distribution. CM
Intensive
What is one of the risks associated with a business obtaining a fixed interest rate on a long-term loan? FI
Interest rates decrease
Which of the following best describes the finance function: FI
It boosts the company's growth and reduces risks.
Which of the following is a true statement about giving recognition: EI
It increases morale among group members.
Which of the following work tasks must always be completed in designated sequential order: OP
Jack pulls stock, Mary packs the box, and Tim places the order on the truck.
Katrina is using a special software program to develop a business chart that shows the employees' expertise and skills and how they access different types of information throughout the organization. What type of software is Katrina using to document the information? KM
Knowledge mapping
What type of business usually experiences economies of scale due to expanded operations? EC
Large Manufacturing plant
How does process thinking help organizations? OP
Lets them know why they succeeded or failed
What is an example of a way to manage physical risks? RM
Make sure employees know where all of the building exits are.
When a bank evaluates a company's capital to determine the company's ability to repay a loan, what does the bank consider? FI
Money the owner has invested into the company
What do managers need to do to develop and maintain the level of quality that customers expect? OP
Monitor all aspects of the business
Which of the following is an inexpensive source of information that entrepreneurs can use during concept development: EN
Researching similar products
What is an example of a company using a direct marketing channel? PR
Responding to customer ideas and requests via email
Which of the following is a characteristic of a self-confident leader: EI
S/He is decisive, even in uncertain circumstances.
Julio is starting a new business, and he has formed relationships with several successful local business owners. Which of the following is the best way to leverage these relationships to help his own business succeed: EI
Sharing those businesses' content on social media
Which management function includes providing professional development for employees? SM
Staffing
Business owners who finance their businesses with secured loans face the risk of losing FI
collateral offered.
Which of the following is important to keep in mind when creating a schedule for the day: PD
Stick to your set time limits.
Francine likes the auto shop where she takes her car for an oil change because it has a comfortable waiting room with good magazines. This illustrates which important characteristic of quality service providers? QM
Tangibles
Statistical findings indicate that the sales for an automaker's environmentally friendly hybrid cars increased by a minimum of eight percent each quarter last year. Based on the information provided, what can the automaker conclude? NF
Trends indicate an ongoing demand for more fuel-efficient vehicles.
A department manager reviews her budget and finds that she spent much less on office supplies than the budget had estimated. She has discovered a(n) FI
Variance
How long are businesses required to keep their records? NF
Varies greatly
When assessing a venture opportunity, an entrepreneur often considers how the venture can differentiate itself from similar businesses, which is determining the EN
competitive advantage.
An owner of a small business who needs to obtain funds to produce goods might borrow against the cash value of FI
a life insurance policy
Logan has a great idea for a new software program. However, for Logan's idea to be considered an entrepreneurial discovery, there must be EN
a market of customers willing to pay for it.
Tyrese and his team are creating a list of their company's critical enterprise-wide risks. They are compiling RM
a risk inventory
Which of the following is an example of a liability: FI
accounts payable
Business process thinking is meant to help companies OP
achieve goals and serve customers.
Which of the following characteristics is a primary dimension of diversity: EI
age
Ever since Marley received an undercooked burger from Quick n' Fresh Restaurant, she just can't bring herself to support the business again. She's concerned she'll get another undercooked sandwich—and she can't get rid of the negative feeling she gets when she sees the restaurant. Marley's distaste forQuick n' Fresh is an example of a(n) MK
attitude
Failing to manage information properly is most likely to cause a business to NF
be unprepared for a disaster.
Javon's coffee shop has finally started to make money, and he wants to invest in product innovation. Javon should EN
begin selling pastries and baked goods.
Which of the following business activities is most likely to impact an organization's governance structures PD
borrowing money from a bank
There are several auto repair shops in town, but Patricia's stands out. Her auto repair shop does great work, but what really sets her shop apart is the customer service. Every customer is greeted by a friendly employee, and s/he is given snacks and drinks while s/he waits for the repairs to be completed. The great customer service that people can expect from Patricia's business is considered her CR
brand promise
Which of the following is an activity that falls under supply chain management: OP
building relationships with vendors
What requirement of a legally enforceable contract requires that both of the parties who are entering into the contract are sane, sober, and of legal age? BL
capacity
Regan is deciding if she is willing to give up a secure position with a well-known company so she can start a home-based business. Which of the following risks is Regan assessing: EN
career
A risk management program helps to __________ risk, which makes it easier to organize and handle them. RM
categorize
Business analysis is essentially the process of helping companies OP
change