Business Quiz

The beginning of modern trade as we think about it today began in ______ with the creation of GATT

1944

John works for Texas Instruments. His tasks involve traveling to nearby colleges, interviewing students for hire after graduation, selecting certain ones to be invited for an office visit, and acquainting them with the facilities. He is in which phase of the HRM process?

Acquiring human resources

Burger King was the first fast-food company to offer drive-through service.

An example of operational efficiency.

Maslow's Hierarchy of Needs has its' foundation in

Aristotle

Robin Baker, a top manager at Westinghouse, has recently been put in charge of a new multi-million dollar project. She selects several individuals to participate in this effort and assigns each certain tasks to perform. Furthermore, she has set up a group hierarchy and indicated that all decisions must be routed through this chain of command. Robin is exhibiting which leadership style?

Autocratic

Contingency Plan

Backup plan

Which of the following were considered highlights of 'Taylorism' at the Ford plant included which of the following?

By reorganizing work flow, Fredrick increased Ford employee Mr. Schmitt's ability to move 12 tons of pig iron a day to 47 tons. A 300% increase., Improved Ford employee Margaret Owen's typing to a world record of 150 words per minute., Eliminating the need for 'craftsmen'.

Refer to Dazzle Magazine. What type of manager was Rosalea at Dazzle Magazine?

Democratic

Mission statement

Describes the purpose of the organization.

Efficiency + Effectiveness =

Success

When Henry Ford asked for the assistance of Fredrick Taylor

The correct answer is: Produce a car that would be affordable to his own employees.

Fredrick Taylor's basic assumption was that

The correct answers are: employees were basically lazy and would work only as hard as they had to., Saw employees as machines whose production could be improved.

Which of the following is an example of a horizontal merger?

The purchase of Mobil Oil by Exxon

The Malcome Baldridge National Quality Award (MBNQA) is intended to raise awareness of quality management and recognize U.S. companies that have implemented successful quality management systems.

This award was established by Congress in 1987

McGregor's Theory X and Y has its' foundation in

Thomas Hobbes

Organizing is the process of grouping resources and activities efficiently and effectively to accomplish an end result.

True

What is the primary disadvantage of both a sole proprietorship and a partnership that a corporation overcomes?

Unlimited liability

If Berkeley Shirtmakers ties compensation directly to output by paying an employee a certain amount for each unit of output produced, it is using

a piece-rate system.

In the first set of Hawthorne experiments dealing with lighting, the main conclusion was that

a sense of involvement affects production.

A locally owned and operated bakery with just one location is likely to have

a short chain of command.

A computerized data bank containing information on the skills and experience of all employees is called

a skills inventory.

When people from a variety of different countries and educational and work experience backgrounds come together to work on a project, they often have varying perspectives on given issues. This benefits the company in the form of

better problem solving

Refer to Dramatic Expressions. What type of departmentalization does Wanda want to switch to?

by product

The equity theory states that people are motivated

by receiving a reward commensurate with their performance.

The process of evaluating and regulating ongoing activities to ensure that goals are achieved is known as

controlling

Refer to Dazzle Magazine. Now that Rosalea has real-world experience, she understands more than ever that certain skills are needed for any manager's success. These skills include all of the following except

corporate behavior skills.

Citibank has one group of loan officers who handle consumer loans and another group who work in the commercial loan area. Grouping work units this way is known as departmentalization by

customer

The theory that people are motivated first to achieve and then to receive rewards in proportion to their contribution is called

equity

Refer to Dramatic Expressions. Wanda could best improve delegation by

explaining the purpose of each task.

Refer to Centrum Springs, Inc. If Riley were to take this first step up the corporate ladder, he would be classified as a

first-line manager.

Under the equity theory, when a worker feels under-rewarded, he or she may take all of the following actions except

forget about it

Refer to ABC Company. For ABC, using the Baldrige award criteria could result in all of the following except

form utility.

The Morgan Company, a small furniture manufacturer, divides its organization into marketing, human resources, accounting, and production departments. This is an example of departmentalization by

function

Thomas wants to make money, so he starts his own business as a sole proprietor. He likes this form of business because

he will get to keep all of the profits the business makes.

A merger between two firms that make and sell similar products in similar markets is known as a

horizontal merger.

The Hawthorne studies revealed that employees who are happy and satisfied with their work will perform better. Out of this study and others like it, the ____ movement was born.

human relations

Chevron Corporation is one of the largest integrated oil companies in the world. Its management is assessing the world marketplace and taking steps to sustain the company's competitive position. Chevron is studying external and internal factors that could influence its success. Faced with business competition on a global scale, Chevron is modifying its strategic business model to manage its resources more efficiently. At Chevron, as at competing companies, one of the most important resources is

human resources.

Refer to Boss Queen, Inc. The group of employees that participate in outside activities on the weekend would be considered a(n) ____ group.

informal

A manager with ____ skills has the ability to deal effectively with people inside and outside the organization.

interpersonal

Harley-Davidson employs a method of inventory control demanding that suppliers deliver parts and raw materials to Harley's production facility just as they are needed and in exactly the right amounts. This type of inventory control is known as

just-in-time inventory control.

When sales drop each summer at Vail Mountain Resorts, a high-quality destination ski area, the resort owners temporarily have too many employees to service the reduced number of tourists that enjoy the area during the warmer months. In this situation, the resorts most likely would

lay off workers

The process of influencing people to work toward a common goal is

leading

Coordinating people and the other resources of an organization to achieve the goals of the organization is the process of

management

A computerized system that integrates production planning and inventory control is called

materials requirements planning.

An employee's attitude toward his or her job, supervisors, and the firm itself is termed

morale

Refer to Garrett Enterprise. When the employees felt a sense of ownership, they must have been feeling more

motivation

If Dow Chemical were to emphasize achievement, recognition, responsibility, and advancement for its employees, it would be emphasizing

motivation factors.

Under Herzberg's theory, when ____ factors are present in the work environment, they act as satisfiers; when ____ factors are absent, they act as dissatisfiers.

motivation; hygiene

Jon has the chance to get promoted into a higher paid management position if he continues to exceed his goals in his current position. Thus, he has high ____. He loves the company and is excited about the new position opportunity. Thus, he also has high ____.

motivation; morale

A manager with few subordinates is said to have a

narrow span of control.

All of the managerial activities in which managers engage for the purpose of creating goods and services are known as ____ management.

operations

Greg is in charge of making sure the raw steel brought into his company's factory is turned into high-quality bearings for sale to customers. Greg is a(n) ____ manager.

operations

A SWOT analysis is an identification and evaluation of a firm's strengths, weaknesses, ___, and threats.

opportunities

Which of the following is external to a firm and exists independently of a company?

opportunities

Grouping resources and activities to efficiently and effectively accomplish a result is called

organizing

When JCPenney first decided to sell its merchandise online, the manager in charge of the process had to hire a technical staff to create the website, gather other resources necessary for the project, and ensure the site would be introduced in an effective and efficient manner. This is a description of the manager's ____ function.

organizing

A call center that is located in another country to answer customer problems is an example of

outsourcing

Operations Management

oversees the process of transforming resources into good and services.

Refer to Boss Queen, Inc. It seems that BQI managers could be considered all of the following except

owners

The leadership style advocating that a leader involve subordinates in most decisions as well as the assignment of tasks is called

participative.

____ is called the "first" management function because all other management functions depend on it.

planning

Karen Howard loves to cook and receives unqualified praise whenever she prepares a meal for someone. Encouraged by these compliments and eager to put her culinary talents to good use, Karen decides to open a small neighborhood restaurant. Since she plans to maintain complete control of the business, she will most likely organize it as a

sole proprietorship.

Paul wanted to know about the skills and experience needed to qualify for a management position with JCPenney. Thus, he called and asked the personnel specialist to send him a job

specification.

The just-in-time inventory system focuses on minimizing

storage and holding costs.

Determining how the work environment affects productivity was the original objective of

the Hawthorne studies.

Frederick W. Taylor's research led to the emergence of scientific management, which is defined as

the application of scientific principles to the management of work and workers.

An organization chart reveals

the company's organizational structure.

The management process consists of

Planning, Organizing, Leading and Controlling

Mondell's lack of effective writing skills and his challenges in speaking to groups of people is causing stress in his job. He's becoming very aware that he needs to improve his ___ skills.

communication

A manager who has the ability to see the big picture of an organization and to understand how the various parts of the organization can fit together has ____ skills.

conceptual

A merger between firms in completely unrelated industries is known as a

conglomerate merger.

Entrepreneur

Someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of the opportunity.,

Refer to ABC Company. Based on the information provided, what type of computer system is ABC Company using?

CAD

Total Quality Management (TQM) focuses on

Customer satisfaction, Employee Involvement and Continuous Improvement

Scientific Management is most associated with

Fredrick Taylor

Refer to Garrett Enterprise. Based on Herzberg's theory, which of these factors was applied to employees?

Hygiene

Three three characteristics of an entrepreneurial activity

Innovation, Running a business, Risk taking.

Which of the following is not an advantage of a sole proprietorship?

It has unlimited liability.

Providing focus and direction to others while motivating them to achieve organizational goals.

Leading

Activities that increase employee satisfaction such as satisfaction surveys, employee communication programs, exit interviews, and fair treatment are all part of which phase of the human resources management process?

Maintaining human resources

Although there may be great initiatives to prevent the loss of employees but people still quit. Which of the following are sited most as reasons for quitting?

Making unreasonable work demands, Refusing to value their opinions, Failing to be clear about what's expected of subordinates., Showing favoritism in compensation, regards, or promotions.

The hierarchy of human needs was developed by

Maslow

Refer to Garrett Enterprise. When Mr. Smith talks about implementing a system of rewarding only the best behavior and punishing bad behavior, which of these theories is he utilizing?

Reinforcement theory

Carol was recently fired from her job as a purchaser for a grocery store. She was told the reason for her dismissal was the almost continuous rotting of large amounts of produce and meat while in the stockroom awaiting sale in the store. Which objective of purchasing did Carol fail to accomplish?

She failed to make sure the materials needed were in the proper amounts.

Which of the following represent the conditions at the Hawthorne plant of Western Electric in the 1900-1920's?

Sick and disability pay, Vacations, Respect from the neighborhood.

SBA

Small Business Administration

Which form of business is the easiest to start?

Sole proprietorship

New employees at Disney World in Orlando spend their first several days learning what it means to be a "cast member" by studying the traditions that are Disney. This is called

an orientation process.

South Carolina is facing budget cuts. The number of employees needs to be reduced over the next three years at all state agencies. The state decides to stop hiring new employees to fill vacated positions to comply with budgetary constraints. This approach is called

attrition.

The leadership style advocating that a leader makes all decisions and tells subordinates what to do and how to do it is called

autocratic

Walters Company, LLC, is a wholesale distributor of industrial packaging. A primary advantage that Walters enjoys as an LLC that corporations do not have is

avoiding double taxation.

Joel Green has been working at The Bicycle Superstore for about two weeks. This morning he noticed that the store's inventory on bicycle tire repair kits is out, but he is unsure of whom he should report to for approval to place an order for more kits. Joel is unclear about the

chain of command

Refer to Boss Queen, Inc. BQI can best be described as a(n) ____ organization.

decentralized

The degree of centralization of an organization is based on the

delegation of authority.

Once a manager has identified a problem, he or she can generate alternatives to that problem. After this is done, the manager

determines the best alternative.

Periodically, employees at Southwest Airlines complete satisfaction surveys that management uses to improve employee job satisfaction. This is an example of

employee relations.

The end result of the Hawthorne studies was an unexpected one, which found that

employees' motivation to work is influenced by human factors.

A balanced scorecard is about finding the right balance between

profitability,customer satisfaction and associate satisfactions.

The process of checking and testing products to ensure that they meet specifications is called

quality control.

Refer to Dramatic Expressions. Wanda should address all of the following when it comes to organizing the business except

regulating behavior

The theory stating that rewarded behavior is likely to be repeated and that punished behavior is less likely to recur is called

reinforcement theory.

Refer to ABC Company. The supplier must have ____ in order to be the best possible option and do business with ABC.

reliability

Dana is assigned to create a training program for newly hired mortgage loan officers. She has the ____ to complete this assignment.

responsibility

Which of the following is an example of Herzberg's motivation factors?

responsibility

Refer to Dramatic Expressions. What would be an alternative to specialization if negative consequences were to develop at Dramatic Expressions?

rotation

Things were terrific at X Bank on Elm Street until an unfortunate incident occurred. Before the incident, the bank had installed hidden cameras, a fancy alarm system, and bars on entrance and exit doors. Nevertheless, the bank was burglarized last week. Although no employees were hurt, one of the bank's most loyal and respected tellers said, "For the first time in five years, I feel a bit uneasy, fearful on the job." The bank may find that for this employee and others, the ____ need must now be met.

safety

Fred Saunders receives $50,000 a year as a manager. This type of compensation is called

salary

The need for esteem concerns an employee's desire for

self-worth

Refer to ABC Company. Given that ABC is dedicated to operations control, the management must have incorporated all of these aspects of operations control except

selling

Burger King is an example of a

service company, not a manufacturing business.

Refer to Garrett Enterprise. When employees interact with each other, what needs are they meeting?

social

Glenn owns and operates a large hardware store in Missouri that employs about fifty people. He delegates some of the decision making to two managers, but he remains the only owner. Glenn's business is organized as a

sole proprietorship.

Regina worked hard and successfully as a salesperson for B&J Realty Company. For the past three years, she surpassed her peers in quality and quantity of sales. Yet in comparing pay, she discovered that she makes less than two salespeople who are well liked by management. Consequently, she accepted a higher-paying job with B&J's top competitor. To avoid losing other salespeople like Regina, management should understand and apply

the equity theory.

A corporate culture is generally defined as the

the inner rites, rituals, heroes, and values of a firm

Unlimited liability means

the owner is responsible for all business debts.

The real value of a diverse workplace is

the variety of views and life experiences that a diverse workplace brings to the company.