Prin of Management Test 2
Establishing clearly formulated, overall organizational objectives provides a business with
direction for the business's activities
The Page-Turner Online Bookstore sent a questionnaire to its customers to determine how happy its customers are with its services. Customers' general responses indicated that the bookstore's lead and delivery times have improved a lot in the past three months. What aspect of quality has the bookstore evaluated?
Satisfaction
Which is the an effective mission statement:
We create happiness by providing the finest in entertainment for people of all ages, everywhere.
Which of the following is the most likely reason that a business might choose to engage in corporate social responsibility:
to improve its image
Which of the following is an example of a company objective that might be developed by top management:
to increase or maintain market share
Which of the following is an ethical issue that a business manager might encounter:
Conflict of interest
A furniture manufacturer has been receiving complaints about the safety of its Model BA2X baby crib. What is the first thing the manufacturer should do?
Initiate a product recall.
What should a manager of a global company do to build relationships among international colleagues?
Provide cultural training for employees
A mission statement should be
short, specific, and understandable
One of the purposes of developing a business plan before starting a new business is to
understand the risks involved
In which way can a start-up business benefit from writing a business plan?
Define managers' roles
Which of the following is a reason why managers develop company objectives:
To identify business purpose
One of the main purposes of a business plan is to help a new business
establish objectives
One of the main reasons why owners develop a business plan before starting a new business is to
estimate financial needs
The part of the business plan that gives an overview of the entire document is the
executive summary
The objectives that managers develop for a business to attain are also intended to serve as operating
guidelines
The new business owner set a goal of selling $50,000 of goods in the first six months. This is an example of a(n) __________ objective.
measureable