BA 101 - Quiz 5 Pt. 2

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weakness of group decision making

- More time consuming. - Conformity pressures in groups. - Discussion can be dominated by one or a few members. - Decisions suffer from ambiguous responsibility.

disadvantage of the Matrix structure

- can cause uncertainty and lead to intense power struggles - working relationships become more complicated - longer decision making process

strength of group decision making

-generate more complete information and knowledge -increased diversity of views -acceptance of a solution - higher quality decision

Contingency

A clothing wholesaler that buys most of its inventory from manufacturers in the Caribbean should have a _____ plan in the event a hurricane demolishes the manufacturing facility of one of its principal suppliers.

An IOU is most similar to which type of bank loan?

A line of credit

______ is a permanent organization structure that combines functional and product departmentalization.

A matrix structure

__________ is a permanent organization structure that draws from horizontal and vertical authority relationships.

A matrix structure

give recognition to employee

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

dislike every facet of

According to Theory X, workers _____ their work.

the act will have a particular outcome and on whether the individual values that outcome

According to expectancy theory, the probability of an individual acting a particular way depends on the strength of the individual's belief that:

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

Advertising

Andy Yocom and his small business.

All of the above

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

All of the above

Which of the following factors affects an employee's compensation?

All of the above

Which of the following statements about the informal organization is true?

All of the above statements about the informal organization are true.

Which of the following statements about the informal organization is true? The informal organization can create problems for the formal organization if it is not managed well. All of the above statements about the informal organization are true. Informal organizations can provide status and recognition that the formal organization cannot provide its employees. The informal organization learns information about the formal organization through the grapevine. Informal organizations provide a source of friendship for organization members.

All of the above statements about the informal organization are true.

Which of the following statements about LLCs is true?

All of the above statements are true

Kayla Langton purchase od Bonus Building Care franchise.

All of these

Decisional

Allocation of resources, approval of projects, and authorization of budgets are all activities that a manager performs in his or her _____ management role.

Which of the following is a characteristic of the entrepreneurial personality?

Ambitious

employee empowerment

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

Mission

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

______ is the setting of a labor-management dispute by having a third party make a binding decision.

Arbitration

a need

As it relates to scientific management, _____ is the gap between what is and what is required.

_____ is the process of reviewing the records used to prepare financial statements and issuing a formal repot indicating whether the statements have been prepared in accordance with accepted accounting rules.

Auditing

______ is the legitimate power granted by the organization and acknowledged by the employees.

Authority

Which of the following demographic groups is having the greatest impact on the growth of a franchising industry.

Baby Boomers

physiological

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

All of the following are examples of disadvantages associated with the ownership of a small business except

Being your own boss

makes the coordination of activities much easier

Both Kennedy and LaGuardia Airports have established airport management committees. These structures are advantageous because it:

recruitment

CMI International, a composite plastic manufacturer, wants to improve its involvement with the community, so it has established a Community Involvement Office. To fill the positions within this office, the company will attempt to find and attract qualified applicants from the external labor market. This process is called:

is the process of selecting the capital expenditures that offer the best returns and meet the goal of maximizing the firm's value.

Capital budgeting

Kirk McCoy is the district sales manager for Jimmy Dean division of Sara Lee Corp.

Centrelaized

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

Collective bargaining

banks are profit-oriented financial institutions that accept deposits and make loans to consumers and businesses

Commercial

_____ are profit-oriented depository financial institutions that accept deposits, make business and consumer loans, invest in government and corporate securities, and provide other financial services.

Commercial banks

A network of Bennetton retail sales agents select the Bennetton designs hat they feel will appeal to the Bennetton retail customers.

Committee

Which of the following statements about the committee structure is true?

Committees can be slow to reach a decision.

_______ are organizations formed by individuals or businesses with similar interests to achieve greater economies of scale and economic power through collective ownership.

Cooperatives

_____ refers to the core values and beliefs that support the mission and the business model of the firm and guide employee behavior.

Corporate culture

What type of business organization generates the most total sales?

Corporation

Asan Linhoud has a major decision to make.

Cosultatvie

_____ are specific repayment conditions as to how long customers have to pay bills and the amount of cash discount allowed.

Credit terms

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

Current liabilities

_ financing is a form of business financing consisting of borrowed funds that must be repaid with interest over a stated time period.

Debt

_____ financing is a form of business financing consisting of borrowed funds that must be repaid with interest over a stated period of time.

Debt

the firm is operating in a dynamic environment

Decentralization is usually desirable in a company when:

Decentralization

Degree to which decision-making authority is given to lower levels in an organization's hierarchy.

______ is the sharing of job duties and authority with subordinates.

Delegation of authority

A supervisor engaged in ____ is grouping people, tasks, and resources into organizational units to facilitate the planning, leafing, and control processes.

Departmentalization

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

Depreciation

_ is the reduction of a currency's value relative to another currency.

Devaluation

Autocratic

Dewayne Gibbons of Burger King decided to introduce a new sliced chicken sandwich without consulting any of his subordinates or the franchise. Managers who use this style of decision making exhibit the _____ style of leadership.

A corporation.

Does not have a size limitation

If a customer at a Target store brings a purchase to checkout.

Empowerment

The _____, created by the 1964 Civil Rights Act, investigates and resolves charges of discrimination.

Equal Employment Opportunity Commission

_____ financing is a form of financing consisting of funds raised through the sale of stock in a business.

Equity

A brokerage firm is an example of a depository financial institution.

False

A positive aspect of opening a small business is that it takes very little management skill because it is small.

False

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

False

Administrative accounting is the term given to the internal workings of the company, such as budgets, sales reports, and analyses of how well marketing strategies are working.

False

An example of a staff position would be the job of district sales manager with twenty people working for him or her.

False

Articles of incorporation usually specify the life of a corporation as a certain number of predetermined years.

False

Entrepreneurs, as a general group, dislike risk taking.

False

In a limited partnership, all of the partners have limited liability.

False

In business, an example of a protected class would be the spotted owl, whose habitat loggers and the paper industry may not disturb.

False

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

False

Mentoring is a form of off-the-job training.

False

Podcasts are significantly different from blogs.

False

Selling a firm's accounts receivables to a financial institution at a discount is called countertrading.

False

The Hawthorne effect is use to describe the individual reaction and not that of the group.

False

The balance sheet summarizes a firm's financial position over a period of time, for instance 3 months or a year.

False

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

False

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

False

The goal in environmental scanning is to gather internal environmental data to identify future market opportunities and threats.

False

The income statement is a snapshot of the firm's financial position at a certain point in time.

False

The internal labor market is made up of all employees in an industry.

False

The three tools used by the Federal Reserve to manage monetary policy are reserve requirements, the prime rate, and the discount rate.

False

Unlike large corporations, sole proprietorships do not need a business plan.

False

Verna Knight is doing observation research when he asks people to describe how to fold sheets, towels, and pillowcases.

False

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

Family and Medical Leave Act

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

Family and Medical Leave Act

The _____ is an independent, quasi-public corporation backed by the full faith and credit of the U.S. government that insures deposits in commercial banks and thrift institutions.

Federal Deposit Insurance Corporation (FDIC)

_____ management is the art and science used to determine the most effective ways to acquire and use funds to achieve the firm's goals. Correct!

Financial

National banks must belong to the Federal Reserve System and must carry FDIC insurance.

Float

Which of the following statements about the partnership as a form of business ownership is true?

Formation of the partnership is simple.

The purchaser of a franchise is called the.

Franchisee

skills are the ability to operate in diverse cultural environments

Global management

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

Group cohesiveness

_____ is the degree to which group members want to stay in the group and tend to resist outside influences. Group norming Group resistance Group cohesiveness Organizational culture Team synergy

Group cohesiveness

______ is the degree to which group members want to stay in the group and tend to resist uutside influences.

Group cohesiveness

Which of the following statements describes one the strengths of group decision making?

Group decision making results in a higher-quality decision then individual decision making

Which of the following statements about HR demand forecasting is true?

HR demand forecasting is an internal labor supply forecast.

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

Human resource management

is the process of hiring, developing, motivating, and evaluating employees to achieve organizational goals.

Human resource management HRM

job enlargement

In 2006, The Home Depot laid off 300 workers in its home office. Even though the workers have left, the same amount of work needs to be done. This sort of company downsizing often leads to:

The day-to-day relationships that develop in an organization chart are called the firm's ________ organization.

Informal

_____ are investment professionals who are paid to manage other people's money.

Institutional investors

An apprenticeship

Is accurately described by all of the above

A ______ is when two or more companies form a special entity to undertake a specific project, usually for a specific period of time.

Joint venture

reengineering

Korber is the world's largest producer of cigarette manufacturing equipment. As growth in the world tobacco consumption declines, it is obvious that Korber will face a bleak future unless it is able to divest itself of its connection to the cigarette industry and start anew. In other words, Korber needs to engage in:

A _____ is an organization of employees formed to represent workers in their disputes with management over wages, hours, and working conditions.

Labor Union

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

Leader

____ is the process of guiding and motivating other towards the achievement of organizational goals.

Leadership

is a legal process whereby a domestic firm gives a foreign firm the right to use its patents, trademarks, brands, products, and company name. The foreign firm will pay a royalty or fee agreed on by both parties.

Licensing

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

Management

accounting provides financial information for managers within the firm to manage, budget, and analyze the progress of the firm.

Managerial

recognize or define the problem or opportunity

Managers typically follow five steps in the decision-making process. The first step is to:

Fair Labor Standards Act

Mandy Ewing has been working as a veterinarian's assistant for almost a year. Her friend recently told that her employee was in violation of the _____ because she was not being paid the minimum wage.

***********

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. Its primary challenge will be to convince the 2,000 employees it inherited from the government-owned facility to work more efficiently. Manila Water sought to boost employee morale by linking pay to performance. In other words, management has used its _____ power to improve employee productivity.

Goal-setting

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. Its primary challenge will be to convince the 2,000 employees it inherited from the government-owned facility to work more efficiently. _____ theory would be applicable to this situation because the company has a stated objective, which could be used as a motivation tool for individual workers.

Which of the following statements about Maslow's hierarchy of needs is true?

Maslow claimed an upper level of need was not activated until a lower level of need was satisfied

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

Matrix

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

Merchant

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

Merchant wholesalers

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

Mission

supervisory, middle, top

Most firms have three distinguishable levels of management. They are:

are corporations that move resources, goods, services, and skills across national boundaries without regard to the country in which their headquarters are located

Multinational corporations

______ is the final figure or bottom line of an income statement.

Net profit or Net loss

Which of the following statements about human rights is true?

None of the above statements about individual rights is true.

_____ are bills that have accumulated and must be paid at a specified future date within the year although no bill has been received by the firm.

Notes receivable

An ______ organization is characterized by a relatively low degree of job specialization, loose departmentalization, few levels of management, wide spans of control.

Organic

____ is the process of arranging the structures and relationships of human and material resources to carry out an organizations plans.

Organizing

_____ involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals. Implementing Organizing Controlling Resource planning Operational planning

Organizing

_____ is the assignment of various functions, such as human resources, accounting, or legal work, to outside organizations.

Outsourcing

_______ is the assignment of various functions, like human resource management, accounting, or legal work, to outside firms.

Outsourcing

Which of the following statements about a general partnership is true?

Partners in a general partnership co-own the company's assets.

The _____ Act protects the retirement income of employees and retirees.

Pension Reform

Ethan Djuna sales person for Lennox.

Performance

Deutsche Bank

Planning

The _____ strategy would be concerned with refunds, rebates, fixed costs, variable costs and anything else that directly affects what is charged for a product.

Price

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

Production

____ is the process of salespeople searching for and identifying people who are most likely to buy the seller's offering.

Prospecting

classes are specific groups who have legal protection against employment discrimination.

Protected

Strategic

Reader's Digest Association, Inc., has published Reader's Digest magazine for over 80 years, and many believe the publication is dated and can no longer attract many readers. They believe _____ plans are needed to revamp the magazine's content, editorial staff, and readership.

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

Real Estate

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

Recruitment

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

Recruitment

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

Recruitment Branding

_____ is an SEC regulation that requires public companies to share information with all investors at the same time, leveling the information playing field.

Regulation FD

A disadvantage of franchising to the franchisee is.

Restricted operating freedom

_____ earnings are the amounts left over from profitable operations since the firm's beginning.

Retained

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

Selection

The toll most widely used in making hiring decisions is the.

Selection Interview

The ____ is an agency of the federal government that offers both managerial and financial assistance to small businesses.

Small Business Administration

_____ is the concern of businesses for the welfare of society as a whole.

Social responsibility

expectancy

Spring Airlines is a small budget airline that is based in China. The company has a strict rule against passengers bringing any food or beverage on board with them. In a country where meal time is extremely important, this has caused some passengers to slap, throttle, and insult stewardesses who tried to enforce this rule. The tenacity with which the company's employees enforce this ruling is based on how the employees predict customers will react to the news. This is an application of the _____ theory.

Reader's Digest Association, INC published magazine for over 80 years.

Strategic

conceptual

Tawna Reed was hired for a top managerial position in Nike Corporation because she had creative ability and a good overall feel for the athletic shoe industry. Reed is said to have good _____ skills.

product

The Cooke family has worked for various General Motors's divisions for over four decades. Bennett Cooke works at the Cadillac division. Rondella Cooke works at the Buick division. Their son Tyrone works at the Corvette plant, and their daughter Niome works at the Saturn plant. The Cooke family could tell you that GM is departmentalized by:

virtual

The _____ corporation is a network of independent companies linked by information technology to share skills, costs, and access to one another's markets.

informal

The day-to-day relationships that develop in an organization but are not listed on an organization chart are called the firm's _____ organization.

corporate culture

The founder and current CEO of Whole Foods Markets wears cut-off jeans to work. He is a vegetarian, an outspoken proponent of green marketing, and a person who believes in eating organic foods. His views and beliefs have shaped the _____ of the supermarket chain, and all employees are expected to agree with these tenets.

Which of the following statements about the informal organization is true? The informal organization learns information about the formal organization through the grapevine. Management should not be concerned about the informal organizations ever conflicting with the goals of the formal organization. Informal organizations never provide members with status and recognition; that is the function of the formal organization. All of the above statements about the informal organization are true. The group norms of the informal organization are developed and implemented by the formal organization.

The informal organization learns information about the formal organization through the grapevine

Which of the following statements about the managerial hierarchy is true?

The managerial hierarchy is also called the management pyramid.

Which of the following statements about the management pyramid is true?

The person with the most formal authority is at the top of the pyramid

Which of the following is NOT a key attribute of the virtual corporation?

The virtual corporation creates trust among its members.

The three basic levels of the managerial hierarchy are

Top, Middle, and Supervisory

A company with demographic employee profile that looks like its customers can often gain a competitive advantage.

True

A current asset is one that can or will be converted into cash within one year

True

A grievance is a formal complain by an employee that his or her supervisor has violated part of the union-management contract.

True

A labor union is an organization that represents workers in their disputes with management over wages, hours, and working conditions.

True

A mortgage loan is a long-term loan that uses real estate as collateral.

True

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

True

An advantage of a small manufacturer over a large manufacturer is the speed with which new products can be introduced to the marketplace.

True

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

True

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

True

Distribution strategy is another term for place strategy.

True

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

True

Frequent-buyer clubs are common tools in relationship marketing.

True

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

True

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

True

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

True

In finance, the potential for loss is called probability.

True

Independent accountants who serve organizations and individuals on a fee basis are called public accountants.

True

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

True

Managers can use equity theory to improve worker satisfaction.

True

One of the disadvantages of he sole proprietorship is that the owner has unlimited liability.

True

Performance appraisals are comparisons of actual performance with expected performance.

True

Revenues are the dollar amount of sales plus any other income received from sources like interest, dividends, and rent.

True

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

True

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

True

The NLRB defines the bargaining unit as employees who are eligible to vote and who will be represented by a particular union if it is certified.

True

The Theory Z approach emphasizes long term employment

True

The difference in value between a country's imports and exports is called its balance of trade.

True

The signing of the Central America Free Trade Agreement by the United States will more than likely not result in a major increase of U.S. exports.

True

The standards used to determine actions acceptable to the group called norms.

True

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

True

The usual expression of the accounting equation is Assets = Liabilities + Owners' Equity.

True

Theory X managers view their workers as untrustworthy and unmotivated.

True

_____ is the process of buying securities from corporations and governments and reselling them to the public.

Underwriting

Howard Cho and Greenwood Enterprises

Union

_____ guarantees that each employee will have only one direct supervisor.

Unity of command

_____ is a philosophy that focuses on the consequences of an action to determine whether it is right or wrong. This philosophy holds that an action that affects the majority adversely is morally wrong.

Utilitarianism

apprenticeship

Which of the following is a type of on-the-job training?

A knowledge-based workforce is quantitatively different from a less skilled workforce.

Which of the following statements about knowledge workers is true?

*********

Which of the following statements describes one of the strengths of group decision making?

to cut costs and satisfy labor needs

Why do companies engage in outsourcing?

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

William ouchi

_____ are groups of employees who share resources and coordinate efforts so as to help members better perform their individual duties and responsibilities. The performance of this group can be evaluated by adding up the contributions of the individual group members.

Work groups

Organizing

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

Leadership

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

Management

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

Human resource management

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

Global

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

One of the advantages of a narrow span of control is: a high degree of control greater organizational flexibility more levels of management top management isolation increased employee autonomy

a high degree of control

_____ is a permanent organization structure that combines functional and product departmentalization.

a matrix structure

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

a need

Which of the following would be an example of a capital expenditure for a superstore that specializes in outdoor grills and other items needed for outside dining?

a parking lot

Which of the following is an example of an intangible asset for a manufacturer of padlocks?

a patent on titanium lock mechanism

The first step in starting your own business is:

a self-assessment

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

a want; a need

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

ability of the manager to delegate responsibility

_____ proposed a theory of motivation based on universal human needs.

abraham Maslow

The difference between small business owners and entrepreneurs is that small business owners:

accept status quo and take a short-term view of the future

The marketing concept:

achieves long-term organizational goals satisfies customer wants and needs legally and responsibly focuses on customer wants so the company can differentiate its product from its competition integrates all of the company's activities to satisfy customer wants Correct! does all of the above

Andy Yocom was looking to start a small business so he could be his own boss. While golfing one day, he saw prime advertising space on the flags on the course. He has decided to call his new venture Invision Golf Group Inc. What should he include in his business plan?

all of the above

Hannah Li wants to quit her job as a legal secretary and start her own small business. She knows that she will be successful if she can find the right idea. Where can Li look for ideas for her new business?

all of the above

Management involves:

all of the above

Michael Bronner made a fortune in the direct marketing business as the cofounder and CEO of Bronner Slosberg Humphrey, a wildly successful direct-marketing firm. His newest venture, Upromise Inc., enlists some of America's largest corporations to help families pay for college and is extremely successful. Entrepreneur Bonner would more than likely have which of the following characteristics?

all of the above

a well-written business plan should contain:

all of the above

In buying an existing business, the prospective buyer should ask questions about the operation of the business. Which of the following would be an appropriate question to ask?

all of the above are questions to ask

One of the advantages of the matrix structure is:

all of these

Which of the following is a characteristic of the entrepreneurial personality?

ambitious

In the 21st century, we define justice as:

an equitable distribution of the burdens and rewards that society has to offer

are individual investors or groups of experienced investors who provide funding for start-up businesses.

angel investor

_____ are individual investors or groups of experienced investors who provide funding for start-up businesses.

angel investors

are individual investors or groups of experienced investors who provide funding for start-up businesses.

angel investors

Decentralization is usually desirable in a company when:

any or all of the above conditions occur

Intrapreneurs:

are acuratelty described by all of the above

Jayson Tully is contemplating the purchase of a Popeye's Chicken franchise. Tully has made a list of the disadvantages that he assumes he will face as a new business owner. Which of the following is actually an advantage?

assistance in building plans

The difference between the small business owner and the entrepreneur is that the entrepreneur:

assumes the risk of rhe business

______ is the legitimate power granted by the organization and acknowledged by the employees. Functionalization Cooperation Authority Coordination Centralization

authority

In order to attract younger customers to the Lacoste brand of clothing, CEO Robert Siegel made all of the major decisions in product planning, distribution, and promotion. He asked for no input from his employees. Siegel used a(n) _____ style to increase Lacoste's sales.

autocratic

autocratic RATIONALE:

Among managers there are three distinctive leadership styles. They are:

autocratic, participative, and free-rain

The difference between a country's total payments to other countries and its total receipts from other countries is called its:

balance of payments

The _____ is defined as the difference in value of a country's exports and imports over a period of time.

balance of trade

Functional Departmentalization

based on primary function

Geographic Departmentalization

based on the geographic segmentation of the organizational units

product Departmentalization

based on the goods or services produced or sold by the organizational unit

customer Departmentalization

based on the primary type of customer served by the organizational unit

process Departmentalization

based on the production process used by the organizational unit

As the CEO of Constellation Brands, the world's largest wine producer, Richard Sands would: not be a part of the managerial hierarchy have the narrowest span of management be in a staff position be at the bottom level of the managerial hierarchy be at the very top of the managerial pyramid

be at the very top of the managerial pyramid

Which of the following is an example of a capital product that would be found in a brewery?

bottling machine

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

breaking bulk

Which of the following is NOT one of the four functions of management?

budgeting

Kathy Elliot has decided that she will start an Internet company to sell reliable used cars to customers nationwide. She has decided to use the sole proprietorship business format. Elliot's next step is to write a formal _____ before she applies for a business loan.

business plan

Which of the following is NOT a commonly used method for departmentalizing a firm?

by managerial level

The _____ is the basic or conventional form of corporate organization.

c corporation

Funds invested in long-lived assets, such as land, buildings, machinery, and equipment, are called:

capital expenditures

Middle managers usually:

carry out plan and policies of top management

Middle managers usually:

carry out plans and policies of top management

the degree to which formal authority is concentrated in one area level of organization

centralization

In the accounting field, CMA stands for:

certified managerial accountant

The _____ defines the relationships of authority from one level of organization to the next, from top to bottom.

chain of command

Mark Ghermizian had quit his job and was looking to start a small business so he could be his own boss. When he read that people spend up to fifteen minutes every day staring at a bathroom stall door, he decided he would find advertisers who wanted to pay to have their advertising messages on bathroom stall doors. Since he has his idea, Ghermizian's next step is to:

choose a form of business organization

When he read Chicken Soup From the Soul, Joe Farmer was struck by how many of the stories mentioned the scent of the islands. So Farmer created bottles filled with Hawaiian air and some scented essence beads. When customers shake the bottles up and open the lids, they're transported back to paradise. While many marketing experts did not think that consumers would buy bottles of air, Farmer has earned more than half a million dollars of sale during his first year of operation. Farmer was an example of a _____ entrepreneur.

classic

A _____ provides employees with the knowledge of what their firm expects in terms of their responsibilities and behaviors toward their fellow employees, customers, and suppliers.

code of ethics

The _____ for the Music Teacher's National Associations establishes a standard of conduct and recommends a set of responsibilities teachers should have toward students, colleagues and the public. These guidelines assist the professional music teacher in gaining the respect of peers and avoiding conflicts and complaints with students and others. It points out to members what are and what are not considered fair, honest and reasonable practice when dealing with students, colleagues and the public, it provides guidance for such aspects as advertising practices, appropriate relationships, and personal and professional integrity. ethical covenant

code of ethics

Airline stewards in China will remove someone from the plane if they attempt to bring their own food with them. Instead, passengers must buy the food sold on the plane. The stewardesses have been given _____ power to deal with passengers who won't obey the rules.

coercive RATIONALE:

airlines stweards in china will remove someone from plane... stewards have been given ___ power to deal with passengers who dont obey the rules

coercive RATIONALE

A secured loan requires the borrower to pledge specific assets as _____ or security.

collateral

Albee Construction Company, a financially strong corporation that builds roads and bridges, finances its equipment leases by issuing unsecured short-term debt, which is called:

commercial paper

A network of Bennetton retail sales agents select the Bennetton designs that they feel will appeal to Bennetton retail customers. The responsibility for picking the next "hot style" is in the hands of this group. This is an example of a _____ structure.

committee

A structure in which authority and responsibility are held by a group of workers rather than a single manager is called a _____ structure.

committee

Which of the following statements about the committee structure is true?

committees can be slow to reach a decision

which of the following statements about the committee strcuture is true?

committees can be slow to reach a decision

All of the following terms are associated with international trade EXCEPT:

comparative advantage

Venezuela can grow and sell cut flowers for floral bouquets more easily and more cheaply than most other countries can produce the same flowers. When it comes to flowers, Venezuela has a(n):

comparative advantage

The disadvantages of group cohesiveness include:

conflict with other work groups in the organization

The disadvantages of group cohesiveness include: increased employee turnover increased willingness to accept change decreased productivity conflict with other work groups in the organization increased absenteeism

conflict with other work groups in the organization

A _____ merger brings together companies in unrelated businesses to reduce risk.

conglomerate

"If sales for the quarter drop by 10 percent or more, there will be an automatic cut in managers' travel and expense budgets." This type of change in a tactical plan is called a _____ plan.

contingency

Victorinox is swiss army knives.... but bc V had ___ plans, it was able to continue to operate profitably.

contingency

A _____ is an organization formed by individuals or businesses with similar interests to gain benefits from size and collective ownership.

cooperative

corporate culture

In manufacturing, all costs directly related to production including raw materials, labor, and factory overhead are classified as:

cost of goods sold

There are two types of expenses recorded on the income statement. They are:

cost of goods sold and operating expenses

In a complicated negotiated, Minmetals in China agreed to purchase at least 24,000 tons of copper cathode for $35 million from Pasar in the Philippines. According to the terms of the sale, Pasar will provide at least $12 million worth of coal to a Chinese power company that will provide the electricity needed to operate Minmetals. This is an example of a(n):

countertrade

A _____ is a nonprofit, member-owned financial cooperative.

credit union

A large furniture and appliance rental business is considering sponsorship options. It has brought together vice-presidents from the various functional areas of the company to determine which sponsorships will most effectively reach the rental company's prospective customers. The rental company has established a:

cross-functional team

A team made up of employees from about the same hierarchical level, but different functional areas of an organization is called a:

cross-functional team

A team made up of employees from about the same hierarchical level, but different functional areas of an organization is called a:

cross-funtional team

is cash held in the form of coins and paper money.

currency

The U.S. money supply is composed of:

currency, demand deposits, and time deposits

American Express is organized into four divisions that cater to businesses, consumers, travelers, and investors. American Express uses _____ departmentalization.

customer

As part of her marketing project, Lily Unruh is studying how Marriott operates. Since she thought it was simply a hotel chain, she was amazed to learn that its food divisions provide food for school cafeterias, airlines, hotels, and fast-food restaurants. Marriott's food divisions are departmentalized by:

customer

Marriot operates food divisions for school cafeterias, hotels, fast food. Marriots food divisions are departmentalized by:

customer

Jill Hansom borrowed $40,000 from a credit union to start a company that makes and sells peach salsa. Hansom used _____ financing.

debt

___ financing is a form of business finanicng consisting of borrowed funds that must be repaid with interest over a stated time.

debt

The two forms of business financing are _____ (borrowed funds) and _____ (ownership funds).

debt; equity

Leonora Whatley is the head of the marketing research department for a cosmetics manufacturer. Whatley delegates as much authority as possible to her fourteen subordinates although she still retains ultimate responsibility. Whatley manages a _____ department.

decentralized

In a(n) _____ election, the workers may vote out an existing union.

decertification

Work group cohesiveness can benefit the organization by doing all of the following EXCEPT:

decreased resistance to change

The major advantage of debt financing is the:

deductibility of interest expenses

Specialization refers to the:

degree to which tasks are subdivided into smaller groups

Specialization refers to the:

degree to which tasks are subdivivded into smaller groups

With its ease of registration and pro-corporate policies, _____ is called the "state of incorporation." About half of the Fortune 500 companies are incorporated there.

delaware

A checking account is also commonly referred to as a:

demand deposit

In the process of financial intermediation, households, businesses, and governments can all be are categorized as:

demanders of funds

A supervisor engaged in ______ is grouping people, tasks, and resources into organizational units to facilitate the planning, leading, and control processes.

departmentalization

A supervisor engaged in ______ is grouping people, tasks, and resources into organizational units to facilitate the planning, leading, and control processes. task integration task design departmentalization functionalization job enrichment

departmentalization

A supervisor engaged in __________ is grouping people, tasks, and resources into organizational units to facilitate the planning, leading, and control processes.

departmentalization

____ is the process of grouping jobs together so that similar or associated tasks and activities can be coordinated.

departmentalization

A supervisor engaged in ______ is grouping people, tasks, and resources into organizational units to facilitate the planning, leading, and control processes.

departmentalizing

Financial institutions can be divided into two broad categories. These are ______ institutions.

depository and nondepository

A business plan:

describes in detail the idea for the new business and how it will be carried out

line organization

design with direct clear lines of authority and community flowing from the top of the managers downwards

The management activity of organizing.

determines, groups, and assigns work activities

the management activty of organzing

determines, groups, and assigns work activities

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

differential competitive advantage

Top management usually performs all of the following tasks EXCEPT:

direct workers on the assemly line

When The Bank of Bank County borrows funds from the Federal Reserve; the rate the Fed charges the commercial bank is called the _____ rate.

discount

According to Theory X, workers _____ their work.

dislike every facet of

Which of the following is an activity performed by the Federal Reserve System as it carries out its monetary policy?

distributing currency

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

distribution

A company has developed a keyboard that is virtually indestructible. It is trying to decide how to get its product into the hands of people like to use their computers while they eat lunch. The company is concerned with the _____ strategy.

distribution

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

distribution

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

distribution

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

distribution

At your neighborhood Wendy's, some employees take and fill orders, others prepare food, a few clean and maintain equipment, and some supervise. This process of dividing work into separate jobs and assigning tasks to workers is called:

division of labor

_____ is the process of dividing the work and assigning tasks to workers.

division of labor

_____ is the process of dividing the work and assigning tasks to workers. Division of labor Task division Functional division Grouping of workers Worker breakdown

division of labor

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

do all of the above

In accounting, every transaction must be recorded as two entries. This system is called:

double-entry bookkeeping

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

douglas mcgregor

At your neighborhood Burger King, some employees take and fill orders, others prepare food, a few clean and maintain equipment, and some supervise. This process of dividing work into separate jobs and assigning tasks to workers is called:

dvision of labor

It has been alleged that a Coca-Cola water bottling plant in India has caused illegal water shortages in fifty villages that surround the bottler. If this accusation is true, than Coke was operating at which stage of the social responsibility pyramid?

economic

The first type of training and development a new employee will be exposed to is:

employee orientation

The Occupational Safety and Health Act requires:

employers to provide a safe and healthful workplace

In employee selection, the initial screening consists of two stages. They are the:

employment application form and the preliminary interview

A retailer that allowed its employees to handle a customer complaint without having to ask for permission or direction from management would have:

empowered its employees to help customers

Thrift institutions were formed specifically to make home mortgage loans and to:

encourage household savings

The person who takes the risk of starting and managing a business to make a profit is called a(n):

entrepreneur

Jeff Arnold and Reggie Bradford created WebMD, an Internet provider of health care information. During the development of this high-growth company, Arnold and Bradford attracted a group of investors who purchased stock in their company and provided them with ______ financing.

equity

_____ financing is a form of financing consisting of funds raised through the sale of stock in a business.

equity

A company can only be concerned about its _____ responsibilities once it has met its economic and legal responsibilities.

ethical

The _____ is the value of one currency in terms of another.

exchange rate

expectancy

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

expectancy

spring airlines.... this is an application of the __ theory

expectancy

Businessed close down for many reasons. Which of the following is NOT a typical reason for a business failure?

expenses were lower than the owner expected

Medical diagnostic equipment specialist Georgiana Rutland was asked to attend a medical conference in which the attendees discussed new uses for laser technology in diagnosing certain types of cancer. Rutland exerted considerable influence over the decisions to adopt the laser technology because of her _____ power.

expert

medical diahnostic speacialist Georgiana Rutland...Rutland considered influence bc of her ___ power.

expert

A non-virtual corporation is a network of independent companies linked by information technology to share skills, costs, and access to one another's markets.

false

Corporate philanthropy excludes any noncash donations.

false

Enlightened firms are realizing that empowerment puts too much stress on employees and are eliminating empowerment programs.

false

Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical behavior.

false

Manufacturers often centralize production and decentralize their financial decision making.

false

Organization charts show the formal and informal relationships among people, jobs, and departments.

false

Venture capitalists provide a source of debt financing and usually charge high interest for loans because of the high risk of the enterprises they finance. You Answered

false

When a domestic company allows a foreign firm to use its brand in exchange for royalty fees, it is called a joint venture.

false

A country that exports more goods than it imports is said to have a(n):

favorable balance of trade

Once the business plan is finished, the next step is to:

find financing for the business

Land, buildings, machinery, equipment, and furniture are called __________ assets.

fixed

A company with few managerial levels and a short chain of command usually has a wide span of control. This is called a _____ organizational structure. matrix mechanistic narrow flat tall

flat

Mariah Dover cashed her $100 traveler's check in Riga, the capital of Latvia. At the current _____ rate, she received $61.82 in Latvian currency from the bank teller who took her traveler's check.

floating exchange

Currency markets operate under a system called _____. This means that prices of currencies vary based upon demand and supply of that currency.

floating exchange rate

Competing against foreign banks can be difficult for U.S. banks because:

foreign banks are subject to fewer regulations than U.S. banks

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

frederick herzberg

The father of scientific management was:

fredrick Taylor

A policy of permitting the people of a country to buy and sell where they please, without restrictions, is called:

free trade

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

function

An advertising agency that has separate departments for artwork, creative design, print advertising, radio advertising, television advertising, and specialty advertising is using _____ departmentalization.

functional

Coca Cola..... this departmentalization by ___ allows cce to respond to demands of diff markets.

geography

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

gives recongnition to employee

One of the advantages of a wide span of control is:

greater organizational flexibility

Which of the following benefits do unions nearly always stress in an organizing campaign?

grievance procedures

___ is the degree to which group members want to stay in the group and tend to resist outside influences.

group cohesiveness

_____ is the degree to which group members want to stay in the group and tend to resist outside influences.

group cohesiveness

Which describes strengths of group decision making?

group decision making results in higher quality then Individual decision making

Which of the following statements describes one the weaknesses of group decision making?

group members may pressure others to conform to decrease the possibility of disagreement

Hugh Larrimore, Wilson Knight, and Frieda Perez have worked together for twelve years. They always clock in and clock out together. If one of the threesome happens to be late, the others will wait for him or her. This commonly accepted behavior for this informal group is called a(n):

group norm

In 2000, Eric Baker and Jeff Fluhr came up with a concept that would do away with scalping if they had their wish, and everyone used StubHub.com. The Internet company brings people who want tickets and people who have tickets that they are not using together. The company has assisted in the sale of tens of millions dollars worth of tickets annually and is always trying to sell more. It charges a small fee for its assistance. Baker and Fluhr would be classified as:

growth-orientded entrepreneur

Leadership is:

guiding others to achieve specefic goals

Leadership is:

guiding others to achieve specific goals

Which of the following is an example of nonstore retailing?

home shopping network

A team made up of employees from about the same hierarchical level, but different functional areas of an organization is called a:

horizontally-organized team

One of the keys to ethical business behavior is:

how the company's top management conducts themselves

Dottie Beauchamp recently was hired by PetSmart to help recruit, select, and train new employees to work in its stores. Beauchamp has a job in:

human resource management

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

hygiene

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

hygiene factor

one criticism of herzberg motivator and hygiene theory is that it:

ignored the impact of situational variables

The Blue Bird Bus Company in Georgia sells buses to the South African government. To South Africa, these buses are an example of:

import

Japan has limited the number of pounds of citrus fruit that can be imported into the country. This limitation is called a(n) _____.

import quota

South-Western College Publishing publishes business textbooks. A percentage of the books it publishes are sold to students in Canada. The textbooks are ____ to the Canada market.

imports

_____ is at the core of most business failures.

inadequate planning

The _____ summarizes the firm's revenues and expenses over some period and shows its total profit or loss.

income statement

Managerial accounting provides all of the following financial information EXCEPT:

income statements

When Linda McAnem began Stirya, a New York-based computer services company, she ran it as a sole proprietorship. As the business grew, she realized that she did not want to be personally liable for the business's debts and wanted her business accounts to be separate from her personal accounts. Therefore, she should have:

incorporated Stirya

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

increases in the manufacturer's inventory

Demography is the study of:

individual's ages educational levels household size income levels Correct Answer all of the above

A(n) _____ is an independent wholesaler who buys related product lines from many manufacturers and sells them to industrial users.

industrial distributor

Which of the following is NOT one of the five key types of power?

influential

A(n) _____ organization is a network of connections and channels of communication based on the informal relationships of individuals inside an organization.

informal

which of the following is NOT one of the five key types of power

infulential RATIONALE

Lachlan Stuart is employed by International Paper, a company that values his vision and creativity. To stay ahead in a very competitive industry, International Paper gives Stuart, and his division has almost complete autonomy to develop innovative and effective communications. Stuart is an example of a(n):

intrapreneur

Lachlan Stuart is employed by international paper, a company that values his vision and creativity. To stay ahead in industry..international paper gives Stuart, and his division has almost complete autonomy to develop innovative and effective communications. Stuart is an example of an:

intrapreneur

Gord Larose and his friend David Allan worked in Ottawa at Nortel Networks, a giant telecommunications-equipment maker. One Friday afternoon, over a few beers in Larose's kitchen, they dreamed up a scheme for renting software over the Internet. Instead of quitting their jobs, they reported to work on Monday, explained their plan to their boss, and began working to make their idea a reality. Four years later, their idea has evolved into an important division of Nortel called Channelware. Larose and Allan are examples of:

intrapreneurs

are entrepreneurs who apply their creativity, vision, and risk taking within a large corporation rather than starting a company of their own. They enjoy a high degree of autonomy while receiving a regular salary and financial backing from their employer.

intrapreneurs

An apprenticeship:

is accurately described by all of the above

To be a high-performance team, a team:

is accurately described by all of these

A code of ethics:

is considered by some to be public relations gimmicks You Answered provides employees with the knowledge of what their firm expects in terms of their responsibilities and behavior toward fellow employees, customers, and suppliers can offer a lengthy and detailed set of guidelines to employees is a summary statement of the firm's goals, policies, and priorities Correct Answer is accurately described by all of the above

Venture capital:

is financing obtained from investment firms that specialize in finiancing small, high-growth companies

Collective bargaining

is the process of negotiating labor agreements

Since the balance of payments is the summary of a country's financial transactions with another country, a discussion of a nation's balance of payments will need to include a discussion of:

its imports and exports its long-term overseas business investments its government loans its gifts and foreign aid Correct! all of the above

A _____ is a study of the tasks required to do a particular job well.

job analysis

is defined as whatever is considered fair according to the prevailing standards of society.

justice

One of the disadvantages of the matrix structure is:

lack of cohesiveness

One of the disadvantages of the matrix structure is: all of the above lack of cohesiveness inability to use teamwork reduce performance inflexibility

lack of cohesiveness

one of the disadvantages of the matrix structur is

lack of cohesiveness

Stuart McFarland is sales manager for a hotel. His job entails leading, motivating, and communicating with employees. McFarland's main management activity is:

leadership

The relatively consistent pattern of behavior that characterizes a leader is called his or her _____ style.

leadership

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

leadership

Typical staff positions are found in _____ departments.

legal and human resources

Typical staff positions are found in _____ departments. legal and human resources production and legal production and marketing public relations and production human resources and marketing

legal and human resources

Peter Drucker, a well-known management scholar, has said that companies should be evaluated on two basic dimensions:

legality and responsibility

Two co-workers at Nortel came up with an idea for renting software over the Internet. Nortel's top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product. The ability of the Nortel top management to create this new division and assign employees to it is a result of their having _____ power.

legitmate

The original Hawthorne studies were set up to study:

lighting

According to Theory Y, workers _____ their work.

like delegation and responsibility in

A _____ is a hybrid organization that offers the same liability protection as a corporation, but may be taxed as either a partnership or a corporation.

limited liability company

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

line

Larry Gomez is a warehouse manager for a company that markets electric generators. In this small entrepreneurial firm, there are direct lines of communication and authority flowing from the company's CEO down to Gomez and through her to the workers in the warehouse. Gomez works in a _____ organization.

line

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

local

The theory Z style of management emphasizes:

long-term employment

The Theory Z style of management emphasizes:

longterm employment

Once Arnold Patel had decided he wanted to quit working as a Web designer for a large advertising agency and go into some kind of business for himself, he did a self-assessment, which indicated that he had an entrepreneurial spirit. His next step will be to:

look for customers

Antony Johnson works in the human resources department of a small wholesale company. His boss has delegated to Johnson the job of finding a replacement for the company's shipping dock supervisor who has recently retired. Johnson will have total responsibility for filling this position. Johnson will be:

made accountable

When the Chili restaurant chain was in financial trouble, its CEO delegated the managers of each of the chain's restaurant to trim costs without sacrificing customer satisfaction. In other words, the individual restaurant managers were: made pseudo-authority figures given hierarchical authority made accountable given job security given task leniency

made accountable

The purpose of reengineering is to:

make sure that the company is operating at the post-conventional ethical level

Making sure that enough cash is on hand to pay bills as they come due and to meet unexpected expenses is called cash:

management

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

management

The ______ refers to the levels of management within the organization. These levels usually conform to the shape of a pyramid.

managerial hierarchy

The ______ refers to the levels of management within the organization. These levels usually conform to the shape of a pyramid. subordinated unit managerial hierarchy authoritative span functional group control matrix

managerial hierarchy

Which of the following is NOT an advantage associated with matrix structures?

managers can build large, permanent teams of specialists

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

manufacturer' agent

Which of the following is NOT a type of retailer?

manufacturers' representative

The _____ is oriented toward identifying consumer needs and producing goods and services that satisfy those needs.

marketing concept

Within the distribution channel, retailers and wholesalers are called:

marketing intermediaries

The _____ is based on the five P's.

marketing mix

which of the following statements about maslow hierarchy of needs is true?

maslow claimed an upper level of need was not activated until a lower level of need was satisfied

matrix structure

Pharmacie & Upjohn, a pharmaceutical company, uses a functional structure (research, development, manufacturing, and marketing) within each of its three largest major product divisions. This company is an example of a: committee structure matrix structure product organization networked organization functional organization

matrix structure

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

mechanistic

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

mechanistic

Military organizations, like the Pentagon, typically have a(n) _____ organization.

mechanistic

The typical problem-solving team:

meets on a regualr basis to share info and discuss ways to improve processes

Partnership agreements generally specify all of following EXCEPT:

methods of taxation of each partner

Many classic entrepreneurs are _____ who start small and plan to keep their business small.

micropreneurs

Plant manager Peter Kwillen receives the master budget from divisional headquarters and breaks it down for the three shift managers. He coordinates with other plant managers and manages lower-level managers. Kwillen is a(n) _____ manager.

middle

A ___ is a formal written statement that describes in detail the idea for a new business and how it will be carried out.

mission statement

A _____ is a formal document that states an organization's purpose and reason for existing and describes its basic philosophy.

mission statement

A _____ is a formal written statement that describes in detail the idea for a new business and how it will be carried out.

mission statement

According to the _____ of the New Mexico Nurses Association, the organization "is committed to advocating for all licensed nurses, promoting lifelong learning, and improving health care for all people.

mission statement

The _____ of the Booth Western Art Museum reads, "The Booth Western Art Museum will educate, entertain, and inspire a diverse audience by creating a place where people feel welcome, find meaning and value, and delight in exploring the uniqueness of Western American art and culture."

mission statement

According to Frederick Taylor's scientific management theory, the most important motivator in the workplace is:

money

_____ is anything (regardless of form) that is acceptable as payment for goods and services.

money

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

money owed to utility companies

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

more job satisfaction

_____ are entrepreneurs who start a series of companies.

multipreneurs

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

niche competitive advantage

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

one year

If a unionized company has a(n) ______ shop, the workers do not have to join the union, and they do not pay dues or fees to the union.

open

Dean Jager is the supervisor of the volunteer staff at the Booth Western Art Museum. He makes the work assignments, determines work schedules, and makes sure the museum uses all its volunteer staff efficiently. Jager is involved in _____ planning.

operational

Small colleges, like Shorter College and Berry College in Rome, Georgia, typically have a(n) _____ organization, which is also referred to as a flat organizational structure. line organic staff mechanistic matrix

organic

A(n) _____ is a picture of the relationships among tasks and those employees given authority to do those tasks.

organization chart

A(n) _____ is a picture of the relationships among tasks and those employees given authority to do those tasks.

organizational chart

In 2005, BridgePort Brewing Company expanded sales of its BridgePort India Pale Ale, and BridgePort Black Strap Stout into Alabama, Georgia, Kansas, Minnesota, Missouri, North Carolina, Oklahoma, Tennessee and Texas. These states will join BridgePort's current distribution markets of Alaska, Arizona, California, Colorado, Idaho, Montana, New Mexico, Oregon, and Washington. When the brewery allocated resources to increase its production and distribution, it would have relied on which of the following management functions?

organizing

One of the primary goals of Burberry, a British retailer, is to expand its market. When the company allocated resources so that it could open two stores in Japan, it was engaged in which management function?

organizing

Spring Airlines is a start-up business in China. It uses the management function of ____ to arrange that the three airplanes it operates are where they are supposed to be when they are supposed to be and have the appropriate number of operating personnel.

organizing

The Austrian-company Wienerberger is the world's largest brickmaker. It had to use the management function of _____ when it integrated the employees and manufacturing facilities that it gained from a merger with a brickmaking company in Great Britain.

organizing

Two co-workers at Nortel came up with an idea for renting software over the Internet. Nortel's top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product. The establishment of a new company and assigning the employees in the division the task of making an idea a reality requires which management function?

organizing

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

organizing

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

organizing

_____ provides the structure of people, positions, departments, and activities within which the company objectives can be accomplished.

organizing

spring airlines start-up bus in china. it uses management function ___ to arrange that the 3 airplanes it operates.....

organzining

Syntel is a software development company that originated in Michigan. The company once employed 6,500 workers in the U.S. In August of 2006, it reduced its U.S. workforce to 500 who are primarily in the marketing department and hired an Indian company to take charge of its production area. Syntel engaged in:

outsourcing

An entrepreneur is a person who _____ a business.

owns and operates

A common use of business plans is to:

persuade lenders and investors to finance the venture

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

physiological

planning

The world's largest bank. Deutsche Bank ..... The success of ots decsion to sponsor a PGA golf tournament to accomplish this organizational objective will ultimately depend on which management function?

planning

The world's largest bank. Deutsche Bank set as its objective to make its name more recognizable in the United States. The success of its decision to sponsor a PGA golf tournament to accomplish this organizational objective will ultimately depend on which management function?

planning

According to Herzberg, hygiene factors are:

potential job dissatisfiers

Types of Teams

problem solving -self managed -cross functional - virtual

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

product

Gambrinus is a large company that owns and operates the breweries that produce Moosehead Lager, Bridgeport Ale, Pete's Wicked Ale, Corona beer, Trumer Pilsner, and Shiner Bock. Each brewery is run as an independent division and each produces a malt liquor that appeals to a different market. This is an example of departmentalization by:

product

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

product

Typical line positions are found in _____ departments. human resources and legal human resources and public relations production and marketing public relations and marketing legal and marketing

production and marketing

Typical line positions are found in __________ departments.

production and marketing

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

profit sharing plan

Which of the following is NOT one of the key characteristics required in order for money to be an acceptable medium of exchange?

profitability

Another name for the matrix structure is the:

project management approach

another name for matrix structure is:

project management approach

another name for the matrix structure is the:

project management approach

Angel investors:

provide funding for a start-up business

Which of the following is NOT a need identified in Maslow's hierarchy of needs?

psychological needs

Which of the following is NOT an example of a hygiene factor?

recognition

which of the following is NOT an example of a hygiene factor?

recognition

A company that has a global vision:

recognizes and reacts to international business opportunities

One of the advantages of work group cohesiveness is:

reduced employee turnover

one of the advantages of group cohesiveness is:

reduced employee turnover

The goal of ______ is to redesign business processes to achieve improvements in cost control, product quality, and customer service. reengineering downsizing redesigning process restructuring reprocessing

reengineering

hassan nasrallah leader of hizbullah,.... Nasrallah exerts ___ power over his follwers.

referent

Customer satisfaction:

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

Strategic giving:

refers to the practice of tying philanthropy closely to the corporation's mission or goals

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

responsibility

reward

In finance, _____ is the potential for loss.

risk

In seeking a balance between the opportunity for profit and the potential for loss, a financial manager is dealing with the concept of _____ trade-off.

risk-return

An employee who was more worried about having a safe work environment and a financially sound pension plan than anything else would be most concerned with which of the needs in Maslow's hierarchy of needs?

safety needs

Which of the following is NOT an example of a job satisfier?

salary and fringe benefits

Weeds, sand, and paper clips would not make good mediums of exchange because they lack the key characteristic of:

scarcity

A loan that requires the borrower to pledge specific assets as collateral is called a(n) _____ loan.

secured

The first step to incorporating a company is to:

select the company's name

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

selection interview

The power the Federal Reserve has to control credit terms on some loans made by banks and other lending institutions is called ______ controls.

selective credit

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

selective strike

Many organizations that experienced success using problem-solving teams expanded the team concept to allow team members to have greater responsibility in making decisions, implementing solutions, and monitoring outcomes. These highly autonomous groups are called:

self- managed work teams

Many rock and roll fans believe that Jimi Hendrix was the best guitarist ever and that he stretched his ability to the utmost. According to Maslow's theory of need, Hendrix more than likely satisfied his _____ need.

self-actualization

When Maslow wrote, "A musician must make music, an artist must paint, a poet must write, if he is to be at peace with himself. What a man can be, he must be," he was more than likely referring to man's:

self-actualization needs

The first step in starting your own business is:

self-assesment

self-manage

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

shopping

A group of investors in a retirement fund removed their money from the fund when they learned the fund manager had invested in a gambling casino. The investors' religious beliefs lead them to believe in the fundamental evil of all forms of gambling. These investors were engaging in:

social investing

The form of business ownership that has the most difficulty in raising capital is the:

sole proprietorship

Which of the following is a major building block for an efficient and effective organizational structure?

span of control

____ is the degree to which tasks are subdivided into smaller jobs.

specialization

On an automotive assembly line, Naif Marrot checks to make sure that recently painted car bodies are free of paint bubbles. Other people are assigned the task of seeing that other parts of the car are built to specifications. The task of building an automobile has been subdivided into a series of subtasks. The concepts of _____ have been employed in this situation. centralization and product departmentalization specialization and division of labor product design and structured manufacturing decentralization and unity of command functionalism and specialization

specialization and division of labor

Roger Wu has decided to buy a new Porsche. Since there are no Porsche dealers in his community, he must travel almost 200 miles to a find a Porsche dealer to purchase the car of his dreams. For Wu, a Porsche is a _____ product.

specialty

Abercrombie & Fitch stores are aimed at college-aged consumers. The parent company also operates retail clothing stores under the name Hollister, which are targeted to 14- to 18-year-olds and under the name Abercrombie, which sell children's wear. Abercrombie & Fitch operate:

specialty stores

Protected classes are:

specific groups that are protected against employment discrimination

The ______ personnel provide advice and specialized support services to line managers.

staff

The quality control engineer at a petrochemical refinery is in a _____ position. line centralized indirect power staff matrix

staff

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

store of value

Reader's digest.... they believe ___ plans are needed to revamp the magazine's content, editorial staff, and readership.

strategic

Kraft Foods Inc. joined with the National Latino Children's Institute to announce Salsa, Sabor y Salud - a first-of-its-kind healthy lifestyles educational program designed by Latinos for Latinos. The program was created by NLCI in partnership with Kraft to support Hispanic families, a population particularly at risk for obesity and accompanying health problems. Kraft donated $2 million to the program's startup. This donation is an example of:

strategic giving

Which of the following is an example of a trend in ethics and social responsibility?

strategic giving

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. To achieve this goal, Manila Water's top management will first need to engage in _____ planning to determine what resources are needed to achieve this goal.

stratgetic

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

supervision

Dean Jager is in charge of the volunteer staff at the Booth Western Art Museum. He makes the work assignments, determines work schedules, and makes sure the museum uses all of its volunteer staff efficiently. Jager is a _____ manager.

supervisory

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

supervisory

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

suppliers

After the World Cup soccer games, Puma, the German sporting goods manufacturer, increased its end-of-year sales target by $641 million. Puma developed _____ plans with a goal that extra sales would come from new product categories the company was introducing, sale of soccer equipment, and consolidation of several subsidiaries.

tactial

_____ planning is short-range, detailed planning that is based on long-range planning. It typically has a time frame that is less than one year long.

tactical

A company with a narrow span of control, which tends to have many managerial levels and a long chain of command, is said to have a __________ organizational structure.

tall

The goal of Budget Rent A Car System is to attract budget minded consumers with an entertaining and informative game. These budget-minded consumers would be classified as Budget's _____ market. Correct!

target

Advantage of matrix structure

teamwork efficient use of resources flexibility ability to balance conflicting objects higher performance opportunity for personal and professional development

Virtual teams have been made an effective management tool through: a trend toward greater employee empowerment a new motivational technique that is results-based the use of narrow spans of management the elimination of mechanistic structures from international companies technology

technology

Which of the following is NOT a legal method that employers can use to convince their employees not to sign authorization cards?

tell employees they will be fired if they sign the cards

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

the Hawthorne effect

According to expectancy theory, the probability of an individual acting a particular way depends on the strength of the individual's belief that:

the act will have a particular outcome and on whether the individual values that outcome

who provides the start-up financing for the majority of new small businesses?

the business owner and his or her family

Who provides the start-up financing for the majority of new small businesses?

the business owner and his or her family and friends

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

the explanation of the Hawthorne effect

In which of the following industries would you expect to find the most rapid growth of unionization?

the fast-food industry

Another name for the informal channel of communication used by the informal organization is:

the grapevine

Another name for the informal channel of communication used by the informal organization is: the norm network leapfrogging the talk ring the talk network the grapevine

the grapvine

informal organization

the network of connections and channels of communication based on the informal relationships of individuals inside an organization

Financial managers constantly strive for a balance between:

the opportunity for profit and the potential for los

Division of labor refers to:

the process of dividing work into separate jobs

division labor refers to:

the process ro dividing work into seperate jobs

Division of labor refers to:

the process to dividing work into seperate jobs

An article on the health care industry revealed several assumptions that health care administrators have adopted during the last decade. The administrators assume their (1) employees have several interests other than work and will work only to the degree necessary. (2) employees will accept additional responsibilities only if they receive rewards, and (3) employees exhibit little loyalty and will leave employment for reasons that are in their short-term interest. These assumptions lead support to the _____ approach to management.

the theory X style of management

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

the theory X style of management

All of the following are characteristics of an entrepreneurial personality EXCEPT:

the willingness to be a follower than a leader

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

theory X

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

theory X

A group of management consultants is studying OGSI Manufacturing and its team management strategy. Once Pete Jazoni's work group was selected for special attention by the management consultants, the work group's production output nearly doubled. Jazoni's group's reaction to the special attention is an example of:

theory Y

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

theory Y

Deposits at a bank or other financial institution that pay interest but cannot be withdrawn on demand are called _____ deposits.

time

Why do companies engage in outsourcing?

to cut costs and to satisfy labor needs

A relatively small group of managers at the head of an organization that establishes overall strategy and long-range goals is called _____ management.

top

The three basic levels of the managerial hierarchy are:

top, middle, supervisory

The three main types of unsecured short-term loans are:

trade credit, bank loans, and commercial paper

Accounts receivable or inventory usually secures short-term secured loans.

true

An organization that has undergone reengineering has completely redesigned its business structures and processes in order to improve operations.

true

Departmentalization is the grouping of jobs under the authority of one manager for the purposes of planning, coordination, and control.

true

Division of labor is the process of dividing the work and assigning tasks to workers.

true

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

true

In finance, the opportunity for a profit is called return. Correct!

true

International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs.

true

Limitations on the quantity of certain types of goods that can be imported over a period of time are called import quotas.

true

Money is anything that is acceptable as payment for goods and services

true

More than half of small businesses have between one and four employees.

true

One of the disadvantages of the sole proprietorship is that the owner has unlimited liability.

true

Organizations can be evaluated on two basic dimensions with regard to social responsibility--legality and responsibility.

true

Performance appraisals are used most often to make decisions about pay raises, training needs, and advancement opportunities.

true

Since Ibrahim Anguell has six subordinates reporting to him, his span of control is six.

true

Social responsibility is a voluntary obligation

true

The NYSE and NASDAQ are vying for supremacy in the U.S. securities markets.

true

The distributive process by which the burdens and rewards that society has to offer are shared varies from society to society.

true

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

true

A country that imports more goods than it exports is said to have a(n):

unfavorable balance of trade

In 2018, Rwanda exported $98 million and imported products valued at $243 million. Rwanda has a(n):

unfavorable balance of trade

The union and management agreement that allows non-union people to be hired but requires that they join the union after a probationary period creates the ______ shop.

union

One of the problems unions are experiencing today is the reluctance of autoworkers in southeastern United States to join unions. In a few instances, when the Auto Workers Union (AUW) gathered enough employee signatures to call for a(n) _____ election, the employees have voted against unionization.

union certification

A research employee at the European Metabolic Diseases Group would have a boss at the company's European Research department and a boss at the company's European Metabolic Diseases product group. This would be in violation of:

unity of command

_____ is financing obtained from investment firms that specialize in financing small, high-growth companies and receive an ownership interest and a voice in management in return for their money.

venture capital

The __________ corporation is a network of independent companies linked by information technology to share skills, costs, and access to one another's markets.

virtual

Understanding that 22 percent of the population buys 84 percent of the cereal products would be useful if cereal manufacturers wanted to segment its market according to:

volume

Social responsibility goes beyond obligations provided by law or union contract. Two important aspects of social responsibility are that the obligation is both:

voluntary and broad

Thrift institutions:

were formed specifically to encourage household savings

Frederick Taylor's scientific management emphasized:

work effienciency

work group

shares resources and coordinate effort to help members better perform their individual duties and responsibility

work group

work groups

requires coordination and collaboration

work team

According to the Hawthorne effect,:

workers respind to being paid attention to

Entrepreneurs typically are innovators who start companies to pursue their ideas for a new product or service.

True

Which of the following statements about unemployment compensation is true?

Unemployment compensation provides former employees with money for a certain period while they are unemployed.

The difference between small business owners and entrepreneurs is that small business owners:

accept the status quo and take a short-term view of the future

IBM purchased MRO Software Inc. for $740 million. MRO was a niche provider of software and services to help customers including nuclear power plants and oil companies. IBM, plans to fold MRO into its software unit. This is an example of a(n):

acquisition

A disadvantage of a partnership is that any partner may have to pay all of the debts of the company regardless of who incurred the debts.

true

A labor union is an organization that represents workers in their disputes with management over wages, hours, and working conditions.

true

An entrepreneur is a person who opens and manages his or her own business.

true

Navim Jain sold stock to investors in order to finance Sparkart, LLC, a company that markets software to track how many times music is played and shared among peers. Jain used _____ financing.

equity

A well-written business plan should contain:

executive summary or company overview a marketing plan a vision and mission statement a management plan all of the above

For fees of five to fifteen percent of gross sales and multi-year contracts, an _____ handle all aspects of exporting for small businesses.

export management company EMC

Job description refers to the specific location or office where a job is done.

false

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

true

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

Human resource management HRM

Articles of incorporation usually specify the life of a corporation as a certain number of predetermined years.

false

Performance standards and feedback are essential goals of the organizing function of management.

false

The lowest level of management is engaged in strategic planning process.

false

The short-range, detailed planning that focuses on current operations is called functional planning.

false

The sole proprietorship is considered a legal entity; therefore, it is taxed separately from the owner.

false

Since the development of affirmative action programs, companies no longer require physical examinations as part of the selection process

False

Which of the following is NOT one of the main activities for a human resource manager?

coordinating marketing and production activities

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

true

The corporation's board of directors elects the corporate officers.

true

The most common use of a business plan is to persuade lenders and investors to finance the venture.

true

When a union gets a sufficient number of authorization cards, it can ask the National Labor Relations Board for a:

union certification election

Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

False

Which of the following statements about the taxation of partnerships is true?

Partnerships file tax returns but pass profits and losses on to partners who report them on their tax returns.

A company with a demographic employee profile that looks like its customers can often gain a competitive advantage.

True

Management needs to be prepared to deal with problems and seize opportunities as they arise. A company often identifies alternative courses of action to be taken if events undercut a strategic or tactical plan. These are called _____ plans.

contingency

Jon P. Farmer is the founder of Kolopua Hawaii LLC, a company that markets Pure Hawaiian Air. Bottles of Pure Hawaiian Air contain air that smells like the floral bouquet that greets tourists as they get off the plane in Hawaii. Retailing for about $5 apiece, the bottles are sold at gift shops in Hawaii, as well as to travel agents nationwide who give them to clients. As a(n) _____, Farmer's annual income exceeds $100,000 annually.

entrepreneur

Which of the following is a trend that is changing the face of entrepreneurship and small business ownership?

entrepreneurial diversity

International trade specialists that buy goods at a discount from small businesses and resell them abroad are called:

export trading companies

The three participative leadership styles are consultative, democratic, and socialistic.

false

When Linda McAnem began Stirya, a New York-based computer services company, she ran it as a sole proprietorship. As a sole proprietor, McAnem:

found the business to be easy and inexpensive to form

A(n) _____ is a union that consists of many local unions in a particular industry, skilled trade, or geographic area and thus represents workers throughout an entire country.

national union

legitimate

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

mission

A company has used ______ if it hires a mailing house to stuff its multi-part advertising message into envelopes and make sure that its mailings comply with government regulations.

outsourcing

Pele Arnaz is a plant foreman for a generator manufacturer. He spends his day carrying out operational plans for the ongoing daily activities of the plant. Arnaz is a _____ manager.

supervisory

The lowest level of management, which usually carries out the daily operations, is called _____ management

supervisory

The short-range planning that details the methods of current operations and is usually done by supervisory management is called _____ planning.

tactical

planning is short-range, detailed planning that is based on long-range planning. It typically has a time frame that is less than one year long.

tactical

Which of the following statements about employee compensation is true?

Compensation is closely connected to performance appraisal.

When Art Baer read that Singapore would lift its ban on chewing gum, he thought to himself, "There has to be a market there." Baer, 26, knew if he was going to move beyond the daydreaming stage, he had to move fast. After investing $20,000 of his own money into developing a product he called Impress Gum, Baer quit his job, flew to Singapore, talked to the right people in the government, lined up a manufacturer, and hired a marketing firm to promote his gum, which fights tooth decay. Baer is an example of a(n) ______ entrepreneur.

classic

Victorinox is the name of the company that manufactures Swiss army knives. As a result of new regulations governing what passengers could carry with them on airplane trips, the company has lost 30 percent of its business. In other companies, this might have led to business failure, but because Victorinox had _____ plans, it was able to continue to operate profitably.

contingency

_____ is an organization of employees formed to represent workers in their disputes with management over wages, hours, and working conditions.

labor union

When Allison Logue found out her children were allergic to corn, she started looking for sweets and starches that were corn-free and was dismayed to find very few such products on the market. As a result, she has started her own small business to produce and market corn-free desserts. It is a small market, and Logue plans to keep her business small. Logue is an example of a(n):

micropreneur

Hassan Nasrallah, the leader of Hizbullah: grew up very poor but very smart, and although he wears the robes of a minor Shiite cleric, he is a world-class politician. He has been called the most charismatic figure in the Muslim world. Nasrallah exerts _____ power over his followers.

referent

The most common form of business organization is the:

sole proprisole

Which type of business organization experiences the least governmental regulation?

sole proprisole

strategic

Mentoring is a form of off-the-job training.

false

Michael Bronner made a killing in the direct marketing business as the cofounder and CEO of Bronner Slosberg Humphrey, a wildly successful direct-marketing firm. His newest venture, Upromise Inc., enlists some of America's largest corporations to help families pay for college and is extremely successful. The 40-year-old Bronner will more than likely start at least one more new company before he retires because Bonner is a(n):

multipreneur

The world's largest bank, Deutsche Bank, set as its objective to make its brand name as recognizable in the United States as FedEx and Visa are over the next ten years. The implementation of this long-range plan would require _____ planning.

tactical

is the art of attaining organizational objectives through use of people and other resources.

Management

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

Managers should ask for help if it is needed.

Taxing a corporation's earnings and taxing the stockholder's dividends from the corporate earnings is called _____ taxation.

double

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

grievance

When Suzanne Pogell wanted to learn to sail, but she could find no one to teach her because men were the ones who sailed, and women were their crew. She finally convinced someone to teach her to sail, and after mastering sailing, she started an all-woman sailing school called Womanship. Pogell started small and plans to stay small. She would be correctly called a(n):

micropreneur

_____ occur when mergers or acquisitions are financed by large amounts of borrowed money, secured by the acquired company's assets.

BA 101 - Quiz 5 Pt. 2

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