Final Exam for Businesses management

Which of the following is an example of an activity associated with the directing function of management?

A manager disciplines an employee for inappropriate behavior in the workplace.

Which of the following activities should be an employee's top priority?

Completing a status report that takes 45 minutes to prepare for a meeting that will occur in an hour

Which of the following can be taxed twice?

Corporate dividends

Which of the following is an activity associated with the organizing function of management?

Determining the division of labor

What is one reason why the overall unemployment rate understates the actual employment situation?

Discouraged workers are not included.

Which of the following business resources provides information about the company's dress codes and vacation policies, and genera

Employee handbook

What is an important element of all businesses that managers must control?

Finances

Which of the following are included when calculating gross domestic product?

Finished products

What is an important question that a manager must consider when hiring a new employee?

How will the company compensate this worker?

. Which of the following factors could legitimately be used as the basis for prioritizing work responsibilities?

Importance of the work

In the calculation of GDP, which of the following components is subtracted?

Imports

What effect does the underground economy have on GDP?

It decreases the GDP

How does double counting affect the gross domestic product?

It inflates the GDP.

Sally is a production-line worker who is experiencing problems with the production equipment. Following the appropriate chain of command, Sally should report the problem to

Jim, the production-line supervisor.

A plant manager or a department head would be an example of which level of management?

Middle

Which of the following is a primary staffing consideration when a manager decides to hire a new employee?

Necessary skills

What often happens to businesses when interest rates rise?

Output decreases.

Which of the following is a factor that measures the condition of a country's economy

Price stability

What usually decreases as the rate of inflation increases?

Purchasing power

What situation often exists when the economy is in a downturn, and many people are unemployed and cannot buy more than the basic necessities?

Recession

Which of the following is a benefit to businesses of orienting new employees?

Reduces turnover

Which of the following is an element of the planning function of management?

Setting goals

What management function involves identifying qualified candidates to perform the business's work?

Staffing

Jana has a meeting with her boss for two hours at 10:00 Monday morning and is leading a video conference at 4:30 that afternoon. Susan, a potential investor, calls Jana early Monday morning and says that she will be flying in from Portland Monday morning at 11:30. After she picks up her rental car, Susan wants to meet with Jana early Monday afternoon. Jana knows that meetings with her boss tend to last longer than expected, and that Susan will have a 45-minute drive from the airport to her office. The investor could really help the company, so Jana feels that it is important to meet with Susan. What should Jana tell this important potential investor about meeting on Monday afternoon?

Suggest that they meet for lunch at1:15 p.m. at a restaurant located between the airport and her office.

Within the next three years, the PRM Company wants to set up an electronic data interchange with all of its suppliers. What type of organizational goal is PRM establishing?

Technology

. Which of the following is a situation that demonstrates the use of technology to recruit employees?

The TRN Company posts its current job openings on its web site.

What often happens when a nation has a high unemployment rate?

The nation experiences an economic slowdown.

Which of the following is a factor that affects a business's selection of policies to guide its operations?

The nature of the business

If interest rates go down, which of the following would most likely occur?

The stock market will go up.

Why do some governments set very high taxes on certain products?

To limit the sale of those items

What is one of the main reasons why governments levy taxes?

To raise revenue

Which of the following is an example of human resources management?

Tony explains the company's policies to a new employee during orientation.

Which of the following is a company resource that employees often analyze to ascertain policies and procedures?

Training materials

Which of the following is the FIRST step of effective managerial planning

Use a systematic approach to establish objectives

How long do most business cycles last?

Varying lengths of time

Who is most likely to report directly to a corporation's chief executive officer(CEO)?

Vice president of finance

Which of the following is an effective technological tool for business people to use to share explicit knowledge simultaneously with coworkers who are in different geographical locations?

Webcam

Which of the following questions should effective managerial planning answer?

What do we want to do?

. Salespeople who are well informed about the brands, sizes, and styles of goods that the business offers can easily answer which of the following customer questions?

What merchandise is carried by the business?

An economy with a high unemployment level tends to have

a lower rate of inflation.

During an expansion phase of the business cycle, businesses will tend to

borrow more money.

Increased consumer spending indicates that the economy is stable and growing because increased spending leads to an increase in

demand for products.

The first task in the HR management activity of staffing is

determining need.

An important aspect of the organizing function of management involves

establishing levels of authority.

One way to determine if an employee is helping a business achieve its organizational goals is by

evaluating the employee's performance.

When consumer spending and consumption decrease, consumer confidence tends to

fall.

Unemployment hurts the economy because unemployed people are unable to contribute to the

gross domestic product

Businesses follow the law of diminishing returns in order to combine the right amount of variable resources to achieve production levels that

maximize profits.

The primary purpose of developing organizational goals is to

provide direction.

The prices of goods and services remaining fairly steady is an indication that the economy is

stable.

The overall objective of workers who form labor unions is to

strengthen their bargaining power

If an employee continuously fails to follow the firm's rules of conduct, the firm is likely to

take disciplinary action

Which of the following phrases summarizes the overall purpose of employee orientation?

"Starting off on the right foot."

Jack, a manager, said to his staff, "I know that many of you think that this is a risky course of action. But, I've decided that we should proceed. If this is successful, it could greatly benefit the company. If it fails, I'll accept the consequences and work to find a new solution." What is Jack doing

Accepting responsibility for his decision

Which of the following is an ethical issue that relates to knowledge management in the workplace?

An employee deliberately doesn't share information with management that will help the company meet its goals.

The owner of a business has asked the manager to open another branch of the business. What phase of the business cycle would be MOST LIKELY to benefit this new branch?

Expansion

. Which of the following is an example of an ethical dilemma that human resources managers may encounter?

Hiring a friend and family member

Tim is the technology manager for the MSJ Company. Tim is responsible for backing up the computer system each evening to make sure that the company has a copy of each day's computer activities and transactions. On Tuesday evening, Tim was running late for a meeting and decided not to conduct the backup activities. Later that night, the computer system crashed and all of Tuesday's computer data was lost. By apologizing to his boss for making a poor decision and offering to work extra hours to help fix the problem, Tim was

accepting the consequences for the decisions he made.

An important purpose of management is to ___________________ the business

achieve the objectives of

Members of Local Union 999 refuse to buy products that are made by their company, Chip Rite. This is an example of

boycotting.

. Emphasizing customer service can help a business to be

competitive.

Before Bob can pay the business's bills, he checks with Ingrid to verify that accounts receivable are coming in and that there is enough cash in the business's checking account to cover the expenses. This is an example of coworkers who are

coordinating their work efforts.

According to the law of diminishing returns, continuing to hire additional employees will eventually cause the workers' individual production level to

decrease.

When consumers purchase gasoline, telephone services, and tobacco products, they must often pay a(n) _________ tax.

excise

Your chances of finding and maintaining a job are greatest during the business cycle phase known as

expansion.

During an executive staff meeting, the company's president stated, "Samari Enterprises experienced a three

explicit knowledge.

. By accurately explaining the company's policies to customers, salespeople often are able to avoid misunderstandings with customers and improve the company's

image.

The tax that businesses pay on the profits they earn is an example of _____________ tax.

income

Shannon has worked at the XBO Company for two years in the production department. During a weekly meeting, the staff was brainstorming ideas to resolve a problem the department has been experiencing on the production line. During the meeting, Shannon told the staff about some changes that her previous company made to its production process, which increased its efficiency and outputs. Shannon's manager liked the idea, and thought that it might work at XBO. This situation illustrates the concept of

inevitable disclosure.

. A primary activity of the directing function of management is

initiating action.

A business can prevent its trade secrets from further disclosure to third parties by asking the court to issue a(n)

injunction.

. Amy and Tom work in a busy purchasing department. Amy relies on Tom to provide her with important information every day to do her job. Because the business's ability to achieve its goals relies on Amy and Tom's collaborative efforts, these two employees' jobs are

interdependent.

One way for businesses to help employees prioritize their work responsibilities is by conducting a(n)

job analysis.

Melanie's supervisor made changes in some of Melanie's tasks so that she could finish them more easily. The technique the supervisor used is

job simplification

To handle customer inquiries about specific products in a large business, the sales staff should

know the location of products within the business.

9. It is important for employees to follow the rules of conduct established by management to

maintain a consistent and fair work environment.

An effective way to prioritize work is to categorize tasks in

order of their importance

. A business's human resources department is responsible for coordinating the ________________ for employees.

performance evaluations

. An important aspect of managing work commitments is

planning ahead.

One way for employees to demonstrate a service orientation to customers is to reinforce verbal communication with

positive body language.

When interest rates continue to increase to a high level, the economy might experience a(n)

recession

Tom needs Allison to provide a status report so he can review inventory levels. After Tom has reviewed the inventory report, he must tell Kayla which items the business needs so she can contact the appropriate vendors to order stock. To achieve the business's goal of maintaining adequate inventory levels, each employee must perform his/her tasks in a(n) ______________ order.

sequential

To reduce the risk of employees sharing trade secrets with industry rivals, businesses might require their employees to

sign a nondisclosure agreement.

The number of levels of management that a business needs usually depends on the

size of the business

When assisting employees with prioritizing work responsibilities, it is often helpful to

talk with the employees.

A business employee is assigned to handle all incoming phone orders. This specific assignment is considered to be specialization by

task.

Most businesses provide employee orientation as soon as new employees report for work because

that is when employees are anxious to learn.

When a human resources department uses interactive computer simulations to help employees learn how to do their jobs, it is using technology for _____________________ purposes.

training

The role of ethics in human resources management involves

treating all employees fairly.