Business Management and Administration

On what type of purchase order are you most likely to find the following information: "This order covers the MRE Manufacturing Company's purchase of ½" rubber gaskets, Model # 62376 metal washers, and "Y" PVC piping beginning April 10, 2022 through March 31, 2024. The prices stated in your quotation dated January 31, 2020 are effective until March 31, 2024" A. Blanket B. Service C. Referral D. Custom

Blanket

During which stage of the PDCA continuous improvement process does a business decide to implement a change on a widespread basis? A. Do B. Check C. Plan D. Act

Act

Marina's company needs to finance a new project. When Marina is figuring out the company's capital structure, she lists its current employees, equipment, and money as A. Return on capital B. Debt C. Equity D. Dividends

Equity

The laddering technique is used to capture and change categories of A. horizontal communication B. hierarchical information C. meaningless data D. redundant knowledge

Hierarchical information

Which of the following might occur during the litigation process: A. Online dispute resolution B. Jury selection C. Arbitration D. Attorney recertification

Jury selection

Which of the following is a disadvantage of corporations: A. Reduced financial power B. Unlimited life C. Unlimited liability D. More taxes

More taxes

What must occur before any management functions can be carried out? A. Processing B. Planning C. Analyzing D. Brainstorming

Planning

Siobhan is utilizing risk-management technology to quantify the potential losses that her company would incur if a tornado destroyed its largest manufacturing plant. What technique is Siobhan using to forecast the likely losses? A. Risk modeling B. Risk transference C. Cost-benefit analysis D. Fundamental analysis

Risk Modeling

What project-planning tool helps businesses effectively plan and use time? A. Schedules B. Objectives C. Guidelines D. Policies

Schedules

Which of the following is the primary reason why a speaker should make eye contact with the audience when giving a presentation: A. To connect with the audience B. To present a confident image C. To show interest in the subject D. To grab the audience's attention

To connect with the audience

Preparing wills and setting up guardianships are types of financial services that often are provided by A. beneficiaries. B. attorneys. C. courts. D. executors.

attorneys

Governments ban or control monopolies because monopolies A. do not always benefit consumers. B. reduce the power of the government. C. do not pay taxes. D. are hard to manage

do not always benefit the consumers

Which of the following types of regulations have a direct impact on operations management: A. Advertising, environmental, antitrust B. Environmental, employment and labor, insurance C. Antitrust, tax codes, employment and labor D. Privacy, antitrust, employment and labor

environmental, employment and labor, insurance

What is an important element of all businesses that managers must control? A. Benefits B. Competitors C. Finances D. Incentives

finances

Every time you spend money on yourself, you expose yourself to A. financial risk. B. relational risk. C. future debt. D. poverty.

financial risk

Economic factors that businesses generally examine when conducting an environmental scan include A. demographics, new laws, and social trends. B. inflation, investor confidence, and interest rates. C. investor confidence, demographics, and new laws. D. inflation, investor confidence, and demographics

inflation, investor confidence, and interest rates

Which of the following business activities would be most affected by weak economies, pricing pressures, regulatory changes, and global supply chain disruptions: A. Internal change management B. Domestic shipping processes C. International risk management D. Cultural literacy initiatives

international risk management

Eva manages a team member, Shawn, who is motivated primarily by his own satisfaction while working on challenging projects. This is an example of an __________ motivation. A. intrinsic B. ineffective C. external D. extrinsic

intrinsic

What is the most ethical way to handle product liabilities? A. Provide warnings on labels B. Make sure customers won't be harmed C. Avoid conflicts of interest D. Have a strong legal team in place

make sure customers won't be harmed

Nate's father has worked at the same company for 30 years, but Nate expects to work for at least four different companies by the time he is 30 years old. This trend explains how A. inevitable disclosure does not work in every situation. B. intellectual property can be passed down through generations. C. mobility increases the need for protection of trade secrets. D. noncompete agreements have become obsolete

mobility increases the need for protection of trade secrets

The Prater Corporation wants to expand its market share by 6% next year. What type of goal has the company set? A. Organizational B. Ideological C. Financial D. Input

organizational

Jack is a computer programmer who is struggling to fix a glitch with his company's new computer network. During a get-together with some friends who also work in technology, Jack brings up his dilemma. His friend Janelle suggests a process that helped her solve a similar problem that she experienced a few weeks ago. Jack and his friends are transferring knowledge by A. conducting a formal interview. B. forming a strategic alliance. C. applying Groupthink strategies. D. participating in a community of practice.

participating in a community of practice

The focus of the Six Sigma framework involves maximizing overall quality and A. emphasizing innovation. B. preventing problems. C. hiring qualified employees. D. expanding product lines.

preventing problems

Before knowledge can be reused or shared, it must be A. manipulated. B. recognized. C. embedded. D. analyzed.

recognized

Arbitration is usually a binding process, which means that it A. replaces the trial. B. ends with imprisonment. C. is confidential. D. is costly and risky.

replaces the trial

Which of the following quality-control tools is a graphical representation of two variables that is used to determine cause and effect: A. Histogram B. Scatter diagram C. Flow chart D. Check sheet

scatter diagram

If a business wants to send a mailing to customers in specific geographic regions, it should set the database query to sort its customer information by A. sales volume. B. name. C. state. D. street number

state